Purchase Conflux EVM (CFX) with New Zealand Dollar (NZD) easily at Switchere and benefit from fast, secure transactions.
Conflux (CFX) is a high-performance Layer 1 blockchain designed to overcome the blockchain trilemma of achieving scalability, security, and decentralization simultaneously. It operates as a permissionless, public blockchain infrastructure engineered for building high-throughput decentralized applications (dApps), particularly in DeFi, Web3, and the metaverse. Its core innovation is the unique Tree-Graph consensus algorithm, a novel ledger structure that processes blocks in parallel rather than in a linear chain. This parallel processing capability allows for significantly higher transaction throughput and lower confirmation times compared to traditional blockchain architectures, providing a robust foundation for scalable digital assets and applications.
The network is secured by a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus mechanism, combining the proven security of PoW with the energy efficiency and governance benefits of PoS. A key feature is its full EVM compatibility, creating a seamless environment for developers to migrate Ethereum-based smart contracts and dApps. The native utility token, CFX, is integral to the ecosystem. It is used for paying transaction gas fees, participating in network governance through on-chain voting, and for staking to earn rewards, which contributes to the cryptographic security of the entire decentralized network.
The most common method to acquire CFX with NZD is through a centralized cryptocurrency exchange that serves as a fiat on-ramp. Users typically need to complete KYC/AML compliance, then deposit NZD via a New Zealand bank transfer or POLi payment. Once the account is funded, you can execute a trade on the NZD/CFX order book to purchase the digital asset.
There are typically three types of fees. First, a deposit fee for your NZD, which can vary depending on the payment method (e.g., bank transfer vs. debit card). Second, a trading fee on the exchange, often structured as a maker/taker fee. Third, a network withdrawal fee paid in CFX when you move your purchased tokens from the exchange to a personal digital wallet. You can verify Conflux network fees on a block explorer like ConfluxScan.
ShuttleFlow is Conflux Network's native cross-chain asset bridge. It enhances the utility of CFX by enabling seamless interoperability between Conflux (both Core Space and eSpace) and other major blockchains like Ethereum and BNB Chain. For CFX holders, this means they can bridge assets into the Conflux ecosystem to interact with its dApps, increasing liquidity and the overall value proposition of the network.
Conflux features a unique Tree-Graph ledger structure and a GHAST consensus mechanism, enabling high throughput and low latency. Its dual-space architecture includes the Conflux Core Space and an EVM-compatible environment called eSpace. This EVM compatibility is critical as it allows developers to easily migrate and deploy Ethereum-based decentralized applications (dApps) to Conflux, benefiting from its superior performance without rewriting smart contracts.
For secure trading and storage, it's highly recommended to move your CFX from the exchange to a personal digital wallet where you control the private keys. Conflux has its native wallet, Fluent Wallet. For enhanced security, especially for larger amounts, consider using a hardware wallet compatible with Conflux. Leaving assets on an exchange exposes you to counterparty risk.
Yes, a direct NZD/CFX on-ramp provides New Zealand-based developers with a streamlined way to acquire CFX. This is crucial for paying network gas fees when deploying and testing smart contracts on Conflux's high-performance eSpace. It removes the friction of multiple currency conversions, allowing them to focus on building dApps and leveraging unique Conflux features like sponsored transactions, where contract owners can subsidize gas fees for their users.