How to Buy Holo in Australia
A Beginner’s Guide to Buying and Selling Holo Cryptocurrency in Australia
If you’re based in Australia and wish to buy Holo – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Holo tokens you want to buy.
Holochain is a blockchain and smart contracts platforms featuring the Holo cryptocurrency. The Holochain exchange has its native token known as Holo. This governance token allows holders to table proposals that will create change on the Holochain platform.
What is This Guide?
This guide focuses on educating beginners about Holochain and how one can buy or sell the token. The guide has been well detailed to ensure that even the freshest minds in the crypto space can understand what the token is and derive value from it.
Before reading this guide, you need to understand that cryptocurrencies are very risky and volatile. As such, you can lose all your investment by trading with cryptocurrencies. On the other hand, investing in crypto can also be very lucrative. The best way for you to understand this market as a beginner is to consult with a professional and follow renowned investors on Twitter to gain trading insights.
- QUICK GUIDE: HOW TO BUY HOLO IN AUSTRALIA
- A Step-by-step Guide to Buying Holochain in Australia
- How to Sell Holo Tokens
- Which Wallets Can I Use to Hold Holo Tokens?
- How does Holochain Work?
- Key Things to Consider Before Buying Holo Tokens in Australia
QUICK GUIDE: HOW TO BUY HOLO IN AUSTRALIA
- Open an account with a cryptocurrency exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select Holo
- Enter how many Holo tokens you want to buy
- Check the details and confirm your purchase
A Step-by-step Guide to Buying Holochain in Australia
Buying Holochain is a very easy process that will only take you a few minutes. Holochain is only offered on select exchanges to research some of the exchanges in Australia that support the token. Once you have found your ideal exchange, the process of purchasing Holo tokens entails:
Step 1: Open an account on a crypto exchange
You can only buy Holo tokens if you have an account on a crypto exchange. Opening an account is an easy process. All you need to provide is your name and contact information. However, for exchanges to comply with the set regulations, you will also be asked to verify your identity. The exchange can ask for your government-issued ID, proof of address, or both.
You also need to follow safe internet practices when opening your exchange account. Safety, in this case, involves setting a two-factor authentication process that will protect your account and prevent chances of someone else impersonating you.
Step 2: Fund your exchange account
After setting up your account, you will need to add funds to it. You can use either your debit card or credit card to fund your account. You can add any funds to your account and buy your tokens depending on Holo’s market value.
Step 3: Buy Holo tokens
Once your exchange has funds, you can buy Holo tokens. The number of Holo tokens that you buy will be displayed on your exchange account. If you do not want to buy the tokens using fiat currencies, you can also buy them using cryptocurrencies. For example, you can exchange Holo tokens for other well-performing cryptocurrencies such as Bitcoin and Ethereum. To do this, you can select the pair that you want to trade. A pair can be written as HOLO/BTC or HOLO/ETH.
As soon as you have bought your crypto tokens, you can either hold them in the exchange or transfer them to another wallet.
How to Sell Holo Tokens
Selling Holo tokens is also quite easy. All you have to do is go to your exchange and select the number of tokens you want to sell. Moreover, you do not have to sell all your tokens at once. Instead, you can select a proportion of the tokens and have some left for further speculation.
Besides, you also do not have to sell your tokens for fiat currencies. Instead, you can sell them to receive Bitcoin or other digital currencies in return. Most time, people sell cryptocurrencies to receive returns. However, one may incur losses if they sold their crypto at a lower value than those they purchased because of market volatility.
Which Wallets Can I Use to Hold Holo Tokens?
There are two broad categories of wallets, cold wallets and hot wallets. Institutional investors who buy large amounts of Holo tokens use a cold wallet. The ideal feature of a cold wallet is that it stores your cryptocurrencies offline, and they are hence less susceptible to lose and hacking.
The other category of wallets is a hot wallet. A hot wallet is like the one where you hold your crypto at an exchange. With a hot wallet, your will store your Holo tokens online. However, hot wallets are not recommended if you hold large amounts of crypto for a long time. They are suitable for regular trading.
How does Holochain Work?
Holochain is a decentralized exchange. It is different from other exchanges because a single entity does not control it. 2018 marked the year for launching the Holochain exchange on the Ethereum blockchain.
Holo tokens allow holders to have governance rights that enable them to be part of the decision-making process for the company. At the time of its creation, Holochain developed millions of Holo tokens. The Holo tokens are different from the normal currencies. The tokens are decentralized as central banks and governments do not monitor them. They are also convenient because foreign exchange rates do not disrupt them. In addition, Holo tokens can be easily be exchanged for any cryptocurrency.
Key Things to Consider Before Buying Holo Tokens in Australia
Some factors that you need to consider before buying Holo tokens include the following:
You also need to check the volatility of the Holo token before making a purchase decision. While volatility is unavoidable in the crypto sector, you can use the token’s price history to find its lowest values, highest values, and price fluctuations.
You also need to assess whether Holo tokens are usable. You can gauge usability by checking whether you can use the token in developing DeFi projects and not just be used for speculation.
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Where can I buy Holochain?
You can buy Holochain from a crypto exchange. There are several crypto exchanges in Australia, so look for the ones that support Holo tokens.
Can I buy Holochain using a credit card?
Yes, it is possible to buy Holo tokens using a credit card. Just link your credit card details to your exchange account.
Is investing in Holochain risky?
Just like with other cryptocurrencies, investing in Holochain is highly risky because of price volatility.