How to Buy GameStop on CEX.IO

Purchasing GameStop (GME) through CEX.IO can be a seamless experience for both new and seasoned investors. Here’s how to acquire this asset:

1. Create a CEX.IO Account: Begin by visiting the CEX.IO website and registering for a new account using your email address.
2. Verify Your Identity: Complete the identity verification process, which may require documentation to comply with regulations.
3. Deposit Funds: Choose one of the available payment methods to deposit money into your account. Options include bank transfers, credit/debit cards, and cryptocurrency deposits.
4. Select GME: Navigate to the trading section and search for GameStop (GME) within the asset listings.
5. Place an Order: Decide how much you wish to purchase. You can place a market order for immediate execution or a limit order based on specific price points.
6. Complete Your Purchase: Finalise the transaction, and the GME will be credited to your account, which you can hold or trade further.

What is GameStop?

GameStop, represented by the ticker symbol GME, is primarily known as a retail company that sells video games, gaming consoles, and accessories. However, in the context of cryptocurrency markets, GameStop has gained notoriety due to events surrounding a significant rally in its stock prices, heavily influenced by retail investors using platforms such as Reddit. Despite its traditional background, GME has become a part of broader discussions around meme stocks and retail trading phenomena.

How GameStop Works

The functioning of GameStop in the financial marketplace is somewhat unique, especially pertaining to its stock and trading activity rather than conventional cryptocurrencies. The asset operates on standard stock market principles, being traded on major exchanges. The recent surge in interest can be attributed to social media activity where retail investors sought to counter institutional short selling, creating a situation known as a 'short squeeze.' This led to widespread media attention and increased trading volume.

Utility and Use Cases

While GameStop is primarily recognised as a stock rather than a cryptocurrency, it has implications in the realm of retail trading and investment dynamics. The events leading up to its stock surge illustrated how collective action among retail investors could impact market movements, bypassing traditional institutional influences. This phenomenon has opened discussions on the power of social media in trading behaviours, signalling to retail investors the potential influence they can wield in financial markets.

Facts About GameStop

GameStop has achieved several notable milestones that distinguish it in investment circles. It became the subject of global headlines in early 2021 when its stock price soared from single digits to over $400 in a matter of days, largely driven by retail investors on platforms like Reddit’s r/WallStreetBets. The company also transitioned towards e-commerce and digital sales to adapt to changing market trends. Partnerships with various gaming companies and an ongoing focus on revitalising its brand through both digital and physical channels contribute to its unique position in the market.

Furthermore, GameStop has announced plans to explore a broader digital strategy, signalling its intent to remain relevant in a rapidly evolving retail landscape. While it remains primarily a company tied to traditional stock markets, the discussions surrounding GME have led to its inclusion in conversations about modern investing and market behaviour amidst increasing retail participation.