How To Buy IoTeX (IOTX) In Australia

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

Last Updated June 26th 2022
5 Min Read

If you’re based in Australia and wish to buy IoTEX – 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 IoTEX tokens you want to buy.

IoTEX stands the decentralized support for machine economics. It serves almost every machine that ranges from smart home devices like wearable fitness trackers and security cameras to autonomous vehicles and drones. As such, IoTEX has established its name in the crypto space as a fast, highly performing launch and a blockchain compatible with EVM. This makes it a flexible and scalable crypto to facilitate different applications. 

To enable self-reliant devices and real-life oracles into existence, the IoTEX blockchain also features inbuilt middlewares and dApps. The native token for the IoTEX blockchain is IOTX, which governs the underlying blockchain protocol while serving as its fuel. 

How To Buy In IoTeX In Australia – Quick Guide

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

Are you looking on how to buy IoTeX 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 IoTeX (IOTX) in Australia:

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

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

A Step-by-step Guide To Buying IoTeX (IOTX) In Australia 

There are two ways for you to buy IOTX tokens in Australia. You can use either fiat currency or other cryptocurrencies. If you are selecting an exchange to buy IOTX tokens, ensure they can support AUD or support the exchange of IOTX with other coins. 

Buying IOTX with other cryptocurrencies 

If you hold other cryptocurrencies, you can exchange them with IOTX tokens. The process for doing this is very easy. Withdraw the tokens you want to trade from your crypto wallet and into the exchange. Exchange the tokens by selecting a pair such as the BTC/IOTX pair. 

Buying IOTX with fiat currencies 

This is the easiest way of purchasing IOTX tokens and the most ideal for beginners. However, to buy IOTX with fiat currency, you need to ensure that the exchange supports AUD. Once you deposit the funds you want to purchase and confirm your details, you will receive IOTX tokens equivalent to that value. 

The process of buying IOTX tokens with AUD entails the following: 

Step 1: Open an exchange account 

After you have researched and settled on an exchange that supports IOTX tokens and the AUD, the next step is to create an account. Creating an account is a simple and fast process that will only take several minutes. 

You will be prompted to provide several details about yourself when opening an exchange account. These details include your name, phone number, and email address. Depending on the exchange, you will be required to verify the information you have provided using a government-issued ID or any other supporting document. 

When creating an account, you need to create a two-factor authentication process to keep your tokens safe in the exchange. 

Step 2: Fund your account 

You need funds to purchase IOTX tokens. You can use fiat currency to buy your tokens by linking a credit card to the exchange. Most exchanges will guide you on successfully linking your card and using it to make purchases. 

Once you have linked your card, deposit the amount of AUD you want to spend on the IOTX tokens. 

Step 3: Buy IOTX tokens. 

The final step is to buy the IOTX tokens. The buy option is usually located at the top part of the exchange page. Once you have the prompt, enter the amount of AUD you want to spend, which will give you IOTX tokens that are equivalent to the amount going by the prevailing market rates. After confirming your transaction, you will receive a notification with details of your purchase. The number of tokens bought will be displayed on your exchange account. 

Read More: IoTeX Price Predictions

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

How To Sell IoTeX (IOTX) Tokens 

If you want to sell IOTX tokens, you can follow the same process as buying the tokens. Go to your exchange account and the sell option to input the number of tokens you want to sell. The tokens will be sold at the prevailing market price. 

You can sell IOTX tokens for AUD or trade them for other cryptocurrencies such as Bitcoin and Ethereum. 

Which Wallets Can I Use To Hold IoTeX (IOTX) Tokens? 

If you want to hold IOTX tokens, you can do so using a crypto wallet. If you do not want to trade your IOTX tokens regularly but only want to hold them, you can choose a cold hardware wallet. The wallet keeps your tokens safe by storing them offline. 

If you are a retail trader looking to make quick profits from rapid price movements, you can store IOTX tokens on a hot wallet. These are online wallets that are mostly offered by exchanges. 

How IoTeX (IOTX) Works 

IOTX works differently from fiat currency. The token is based on the blockchain decentralized system. This means that they are free from intermediaries such as central banks and governments. 

Mostly, people buy IOTX tokens for speculation and sell after prices have been appreciated. The tokens can also be used to power the IoTEX Network and to support other DeFi projects. 

Read Also: Could IoTeX (IOTX) Be A Millionaire-Maker Coin

Key Things To Consider Before About Buying IoTeX (IOTX) In Australia 

Some things to put into consideration before buying IOTX tokens include: 

Usability

The first thing you should consider when buying IOTX tokens is usability. The tokens should be adaptable on several projects on decentralized networks to push their value. 

Volatility

There is no way to predict a token’s volatility. However, if you are a retail trader, you can check price performance to make trading decisions. 

Competition

The other factor you need to check is competition. Evaluate the competing tokens of IOTX to diversify your portfolio by buying multiple tokens. 

eToro – Best Platform To Buy Cryptos 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.

FAQs 

Where can I buy IOTX tokens? 

You can buy IOTX from an exchange in Australia that supports the token 

Can I buy IOTX with my credit card? 

Yes, you can buy IOTX with your credit card. All you need is to link the card with the exchange. 

Is investing in IOTX risky? 

Investing in all cryptocurrencies can be highly risky because of price volatility. It is advised that you invest with caution.