How to Buy Fantom in Australia  

A Beginner’s Guide to Buying Fantom Cryptocurrency in Australia

Last Updated July 23rd 2021
5 Min Read

If you’re based in Australia and looking to buy Fantom  – the process is very simple. All you need to do is find a regulated exchange, deposit some funds into your account, and decide how many Fantom tokens you want to buy.

Fantom is one of the most popular cryptocurrencies in the market. The token is renowned for its incredible contributions in decentralized finance, given that it is based on the blockchain network. The major competing tokens for Fantom are Bitcoin, Ethereum, and Bitcoin Cash. Before investing in cryptocurrencies, you first need to research and gain ample knowledge that will help you make the right investment decisions.  

What’s in this guide? 

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

However, if you are unsure of investing in crypto, 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. 

  1. QUICK GUIDE: HOW TO BUY FANTOM IN AUSTRALIA
  2. Where to buy Fantom in Australia
  3. A step-by-step guide to buying Fantom in Australia
  4. How to sell Fantom
  5. Which wallets can I use to hold Fantom tokens?
  6. How Fantom works
  7. Key things to consider before buying Fantom in Australia
  8. FAQs

QUICK GUIDE: HOW TO BUY FANTOM IN AUSTRALIA

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Fantom
  5. Enter how many Fantom tokens you want to buy
  6. Check the details and confirm your purchase

Where to buy Fantom in Australia 

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

A step-by-step guide to buying Fantom in Australia 

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

Buying Fantom with other cryptocurrencies 

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

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

Buying Fantom using fiat currencies 

The other way for you to buy Fantom 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 Fantom tokens, 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, and all you need to do is choose the company that best suits your needs and one that supports Fantom and AUD. Some details will be requested of you 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 Fantom tokens. 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 Fantom

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

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

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

How to Sell Fantom

After you have bought Fantom 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 that you have exchanged for the tokens. 

If the exchange does not support the exchange of Fantom to AUD directly, 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 Fantom tokens? 

There are two ways you can hold crypto tokens. One of these wallets is the online crypto 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 Fantom 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 Fantom works 

Just like other cryptocurrencies, Fantom 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 easier, cheaper, and fast. 

Key things to consider before buying Fantom in Australia 

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

Availability 

The first thing you need to consider is the availability of Fantom 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 Fantom 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 Fantom if you are aware of the high risk involved. 

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FAQs 

Where can I buy Fantom in Australia? 

The only place for you to buy Fantom is from a cryptocurrency exchange 

Are Fantom tokens volatile? 

Just like with the other cryptocurrencies, Fantom tokens are highly volatile because their prices keep fluctuating. 

Can I buy Fantom with a credit card? 

Yes, that is one of the options some exchanges will give you to fund your account.

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