How To Buy Elrond (EGLD) In Australia

Last Updated April 19th 2024

5 Min Read

A Beginner’s Guide to Buying and Selling Elrond Cryptocurrency in Australia

If you’re based in Australia and wish to buy Elrond – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Elrond tokens you want to buy.

Elrond is one of the most popular cryptocurrencies in the market. With eGold (EGLD) as its native token, Elrond is a top-rated coin in the crypto market, serving to pay network fees, staking and rewarding validators, among other purposes enabled by its characteristic ability to offer breakneck transaction speeds by using sharding.

The token is renowned for its incredible contributions in decentralized finance, given that it is based on the blockchain network. Some of the tokens that compete with Elrond in the crypto market include ZRX, Holo coin, and AAVE among others. Nonetheless, investors must always research to gain insight concerning the crypto market. The research must be done before they dive in as traders or investors, as this avenue can be very volatile and risky.

What is in This Guide?

With this guide, any crypto trader who wants to invest in Elrond will know how to buy, sell, and store Elrond tokens. The guide is well-detailed to ensure that even a beginner can understand all the steps involved.

However, suppose you are unsure of investing in crypto. In that case, you need to first consult with a financial advisor to understand all the stakes involved. To begin with, investing in cryptocurrencies is very risky, and sometimes traders lose their money.

How To Buy Elrond In Australia – Quick Guide

To help you buy Elrond coins as quickly as possible, we broke the process down into a few easy steps:

Step 1: Open an account with eToro – Head to eToro’s website and click join now to open a new account.
Step 2: Verification – By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time.
Step 3: Deposit – Fund your new eToro account with a minimum of $10.
Step 4: Search for Elrond on eToro – Search for EGLD or Elrond in the eToro crypto market.
Step 5: Buy EGLD – Enter the amount of the worth of Elrond you want to purchase in United States Dollars (USD), then click Open Trade.

That’s it! By following these easy steps, you can invest in Elrond in Australia in less than 5 minutes.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Where To Buy Elrond In Australia

If you want to buy Elrond in Australia, the only place to do it is from a crypto exchange. There are several crypto exchanges in the country, and you research the ones that support Elrond and AUD.

List of the best Exchanges to buy Elrond (EGLD) in Australia:

Looking where to buy Elrond in Australia right now? Below you will find 4 of the best brokers that allow you to buy Elrond in Australia.

eToro - Best broker to buy Elrond (EGLD) in Australia
Binance - Best exchange to buy Elrond in Australia for asset diversity
Coinbase - Best exchange to buy Elrond (EGLD) for beginners
OKEx - Best broker to buy EGLD in Australia for low-cost

A Step-by-step Guide To Buying Elrond In Australia

If you want to buy Elrond, there are two main ways for you to do it:

Buying Elrond with other cryptocurrencies

The first way of buying Elrond tokens is by using other cryptocurrencies. All you need is to buy other cryptocurrencies and then exchange them for Elrond. This option is not available on all exchanges.

For example, if you want to buy Elrond using Bitcoin, look out for the pair labelled BTC/EGLD, and this will exchange your Bitcoin with Elrond tokens.

Buying Elrond using fiat currencies

The other way for you to buy Elrond is by using fiat currency and, in this case, the AUD. As mentioned earlier, before registering with an exchange, ensure that it supports AUD.

To start buying Elrond, follow these simple steps:

Step 1: Register with an exchange

The first step you need to take is to register with an exchange account. Australia has several crypto exchange companies. All you need to do is choose the company that best suits your needs and supports Elrond and AUD. Some details will be requested to open the exchange account, including your name, telephone number, email address, and more.

Because of compliance measures given to exchanges, you will also have to verify some details you have provided through basic KYC rules. To verify, you will need supporting documents such as a government-issued ID, proof of address, and others.

When setting up the account, you need to set a strong password and multi-factor authentication to ensure that you keep your account safe from any third-party interference.

Step 2: Fund your account

The second step is to fund your account so that you can buy Elrond. To fund the account, link your bank account to the exchange, or you can also link your credit card or debit card.

Step 3: Buy Elrond

The third and most crucial step is to buy Elrond now. Now that you have funded your account with either AUD or other cryptocurrencies, you can now exchange them for Elrond tokens.

If you want to buy using cryptocurrencies, select the pairs matched against Elrond. These pairs will be listed as ETH/EGLD, BTC/EGLD, and others. To buy with AUD, you can select the pair written AUD/EGLD.

After selecting the pairs, you would like to exchange with, confirm your transaction. An email will notify you that the transaction has been processed.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How To Sell Elrond

After you have bought Elrond tokens and want to sell them after some time, you can follow the same process as buying the tokens.

Sign in to your exchange account and go to the sell section of the exchange. Afterwards, you can select the amount you want to sell and receive funds to exchange the tokens.

Suppose the exchange does not support the exchange of EGLD to AUD directly. In that case, you can exchange the tokens for other cryptocurrencies that you can later sell for AUD. Once you have your funds back, you can later withdraw them from the exchange account.

Which Wallets Can I Use To Hold Elrond?

There are two ways you can hold crypto tokens. One of these wallets is the online wallet that will store your tokens online. Online wallets are also known as hot wallets, and they allow you to withdraw and sell your crypto whenever you want to.

The other type of wallet is the cold wallet. This allows you to hold your Elrond tokens for a long time without having to sell them. Cold wallets are safe because they store your tokens offline on external devices such as a USB drive.

How Elrond Works

Just like other cryptocurrencies, Elrond is based on blockchain. This gives it a decentralized feature that allows it to be bought and sold without an intermediary.

Decentralization makes financial transactions more manageable, cheaper, and fast.

Key Things To Consider Before Buying Elrond In Australia

Some things you should consider before buying Elrond in Australia include:

Availability

The first thing you need to consider is the availability of Elrond tokens. You should select the tokens with a high supply circulation in the market because this will enable you to buy and sell at will.

Usability

The best tokens are those that can be used for purposes other than trading. Conduct research on whether Elrond can support other DeFi projects because this will raise its future value.

Volatility

You also need to check the volatility of the token. Every cryptocurrency is very volatile because its prices will keep changing. You need to invest in Elrond if you are aware of the high risk involved.