How To Buy Gala Coin (GALA) In Australia

A Beginner’s Guide to Buying and Trading Gala Cryptocurrency in Australia

Last Updated February 5th 2023
10 Min Read

If you’re based in Australia and wish to buy Gala crypto coin – the process is very simple. All you need to do is find an Australian regulated exchange, deposit some funds, and decide how many Gala coins you want to buy.

Presently, Gala is among the 50 most popular cryptocurrencies by its market capitalization, after its prices soared in November 2021. This can mainly be attributed to the listing of Gala coins by two big crypto exchanges Binance and Bibox. This cryptocurrency, which was released in 2020 to support the Gala Games ecosystem, is used as a means of exchange within this gaming platform and is now an extremely trendy crypto coin. 

In this guide, we will go into the details and explain how this cryptocurrency works. You will also learn everything you need to know to trade Gala coins and find answers to such questions as to whether Gala coin is a good investment, whether you should buy it right now, and what are the best platforms to buy Gala coins in Australia? And eventually, we will provide you with a complete guide explaining how to buy a Gala coin in Australia.

How To Buy In Gala In Australia – Quick Guide

To help you buy Gala 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 Gala on eToro – Search for GALA or Gala in the eToro crypto market.
  • Step 5: Buy GALA – Enter the amount of the worth of Gala 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 Gala 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 Gala Coin In Australia

Are you looking on how to buy Gala in Australia? Well, there are hundreds of crypto exchanges and brokers in Australia. This can make it hard to know which platform is right for you. 

List of the best Exchanges to buy Gala (GALA) in Australia:

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

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

What Is A Gala Coin?

To understand what is the purpose of the Gala cryptocurrency, let’s, first of all, explain what the Gala Games is. It’s a gaming platform that is blockchain-based and uses the play-to-earn gaming model. The company was launched in 2019 by Eric Schiermeyer (the co-founder of Zynga and gaming legend), and it aims to make the gaming industry more user-friendly, putting the players’ opinions first.

One of the reasons why the play-to-earn model has become so popular is that it created several privileges for the players. To begin with, it rewards players with the points which have value and can be later exchanged with fiat currency. So, if the players want to leave the game, they know the time they spent on the game was not a waste. In addition, Gala Games gives its users the opportunity to vote on which games they want to be published on the platform.

At the time of writing, Gala Games has released only one game - Town Star, but it works on several others, which will be published in the near future. But what is GALA cryptocurrency used within this ecosystem? It is actually a utility token that is used to purchase in-game items and NFTs. Players can also buy a node license and run nodes to get rewarded with points and eventually be rewarded with GALA for these points.

With this being said, we can note that GALA token popularity depends on how mainstream the Gala Games will go in the future. If more people start playing Gala Games, more people will get GALA, and the demand for the cryptocurrency will rise, resulting in its price growth. Considering this factor, Gala seems to have a positive long-term perspective, as the Gala Games corporation has set ambitious goals to develop its ecosystem, and it already has attracted more than 1.3 million monthly users.

Another reason associated with the increase of Gala coin value is its listing on such famous exchanges like Coinbase, Binance, and Bibox. The drastic growth followed, especially when Binance started supporting this cryptocurrency: its prices grew by 400% in November, and the token hit its all-time high of $0.83 on November 26th. Currently, it is ranked as the 57th largest crypto with a market cap of more than $1.78 billion.

Don't Miss: Gala Price Predictions

How To Buy Gala Coin With A Credit Card?

Buying Gala with a credit card is a quick and straightforward process because transactions conducted through bank cards usually take less time than in the case of other payment methods. To begin with, you need to select a crypto exchange like Binance that supports bank card transactions, create an account and verify it.

Once your account is created, you can deposit funds into it by choosing a bank card as a payment option. Now, you only need to fill in the required details about your bank card and add the amount you want to deposit. When your account is charged, you can finally search GALA and purchase it. Or, if GALA is not available through fiat currency, you can first buy another popular coin, such as BTC or DOGE, and exchange it with GALA.

If choosing Binance to buy Gala with a credit card, you might be able to purchase Gala coins with a limited amount of $300 without having to go through the long verification process. However, in this case, you need to buy BTC, BNB, or USDT first and then swap it for Gala coins.

What’s The Best Platform In Australia To Trade Gala Coin?

To find the best platform to trade Gala coins in Australia, in the first place, you need to consider what trading strategy you will use. Those strategies that involve active trading require opening and closing positions quite often. So, here you need to find a platform that charges relatively lower fees, is secure and safe, and operates quickly.

Taking into account our thorough research, we would recommend using Binance or eToro, as long as both platforms charge entirely fair prices and provide a broad range of trading tools. Plus, both platforms stand out with a high reputation and safety - Binance uses several robust security features to protect your account, and eToro is regulated by four top-tier financial institutions.

Additionally, if you are looking to make a long-term investment in Gala, another option is Coinbase.

Here’s How You Can Instantly Buy Gala Coin In Australia

This section will explain thoroughly how you can start buying Gala coins online in Australia.

Step 1: Open an Account with a Crypto Exchange or Online Broker that Supports GALA

First and foremost, you need to have a verified account on your favourite crypto exchange or online brokerage platform. Verifying your account may not be necessary in the case of some platforms, but it’s vital if you want to enjoy safe and secure trading. The first step usually takes from a few minutes to some hours, depending on the exchange. Still, we should mention that the verification process may take a bit longer on some platforms.

Step 2: Select a Payment Method and Make a Deposit

The second step is about depositing some funds into your exchange account. Here, you will have several options to do that, including credit and debit cards, e-wallets, and wire transfer methods. There may be some differences between the deposit fees and transaction speed depending on the payment method, so consider this factor while selecting a payment option. Take note that in the case of Gala, most crypto exchanges require you to buy another benchmark coin and then exchange them to Gala. These coins typically include BTC, BNB, USDT, and more.

Step 3: Buy a Gala coin and Store it in a Crypto Wallet. 

Now, your account is fully completed, and you can start investing in Gala coin. You can find this cryptocurrency under the ticker GALA, click on the “Buy” button and fill in the amount you want to purchase. After this, there are mainly two ways you can store your cryptocurrency. First, you can keep it on your brokerage or crypto account, and the second method is to store them in a crypto wallet. Note that you cannot transfer your coins into a crypto wallet if you buy them through CFDs, because in this case, you don’t actually own the coins.

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

Here’s How You Can Start Trading Gala Coin In Australia

As mentioned previously, the first thing you need to consider before trading Gala is choosing the right platform. There are plenty of them, so carefully analyze and select the one that best suits your requirements. The next important factor is to develop a trading strategy that can make your investment more efficient. Trading strategies fall into two large groups - short-term and long-term strategies.

As its name suggests, short-term strategies are the ones in which the interval between the buy and sell actions is short. In contrast, long-term trading strategies require you to buy and hold the asset for a relatively long period. What kind of strategy is right to choose actually depends on the cryptocurrency you are trading as well as your personality. As for Gala, it can be an excellent short-term investment as it experiences quick price movements. You just need to guess the right moment to buy or sell it.

Beyond that, it’s also necessary to have an idea of what is going on in the market so that you can more precisely guess what is the right time to buy and sell your Gala. There are several platforms where you can get lots of educational and news content about cryptocurrency market analyses. You can find such content on educational websites, crypto forums, telegram channels, and so on.

Best Digital Wallet For Gala Coin

As we previously mentioned, when it comes to storing Gala coins on a digital wallet, you have two options - hot storage or software wallets and cold storage or hardware wallets. The difference between these two kinds is that the first is an app that keeps your coins online, while the second is a physical device that stores your coins offline.

If you want to select a software wallet, you can try Binance’s Trust wallet. However, if you're going to buy a hardware wallet, we would recommend the Trezor or Nano Ledger wallet.

Should You Buy Gala Coin Right Now?

The answer to this question actually depends on your trading goals, expectations, time spent on the research, etc. The Gala coin can be a good investment, but it actually has as high volatility as most other cryptocurrencies. So, you will need to keep an eye on the market, make thorough analyses about when you should open and close the positions, and always consider the risks of losing your money. It means that you need to develop a plan to make the process more efficient and get higher rewards. And always avoid putting your capital at risk if you cannot afford it.

With this in mind, Gala seems to be an interesting crypto project with a bright future. More importantly, as the NFT market is booming, Gala is also one of the leading crypto coins to invest in right now if you believe NFTs are going to make a change in the way people will transact digital assets in the future.

Conclusion

In a nutshell, the Gala coin is a utility token that is built on the ERC-20 token standard and is used within the Gala Games gaming platform. Players on this platform can use Gala to buy items, nodes, and most importantly, NFTs. The cryptocurrency was released in 2020, but it gained huge popularity at the beginning of 2021 and significantly increased in value during the last quarter of 2021.

Right now, the gala coin is traded at $0.26 and has a market cap of more than $1.78 billion. But it seems there's a huge potential for these coins to rise again and become a leading digital asset in the gaming industry.

To start buying Gala in Australia, firstly, you must find an exchange that accepts clients from this country and lists GALA coins. From our research, the best platforms to do so include Binance and eToro.

eToro – The Best Platform To Buy Gala In Australia

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

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