How To Buy Ontology (ONT) In Australia

Last Updated November 21st 2024

6 Min Read

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

If you’re based in Australia and wish to buy Ontology – the process is very simple. All you need to do is find a regulated online exchange in Australia that offers competitive fees, deposit some funds and decide how much you wish to buy.

It is imperative to conduct thorough research when choosing cryptocurrencies as your preferred investment market because it positions you in a place where you are well informed to make the right investment choices and at the right time. Ontology is a renowned cryptocurrency today, popular for its remarkable contributions in decentralized finance, especially because it is based on the blockchain network. Ontology coin stands next to Bitcoin, Bitcoin Cash, and Ethereum, among other cryptocurrencies.

What’s in this guide?

This guide is intended to help anyone who wishes to venture into the crypto market, showing them how to buy, sell and even store their Ontology tokens. The guide is thorough and simple to understand, which makes it ideal even for an investor with little to no experience or prior knowledge.

However, if you have any little uncertainties concerning the crypto market, make a point of consulting with your financial advisor or expert in the crypto space so that you can understand what the crypto market demands. You must note, however, the fact that this is an extremely risky, volatile, and highly unpredictable investment arena.

How To Buy Ontology In Australia – Quick Guide

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

The crypto exchange is the only place where one can buy Ontology cryptocurrencies in Australia. The country features several exchange accounts and requires that an investor chooses an account that best aligns and supports their investment needs and specifications.

List of the best Exchanges to buy Ontology (ONT) in Australia:

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

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

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

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

Buying Ontology with other cryptocurrencies

The first way of buying Ontology tokens is by using other cryptocurrencies. All you need is to buy other cryptocurrencies like Bitcoin, Bitcoin Cash, or Ethereum and, after that, exchange them for Ontology. This option is not available on all exchanges.

For example, if you want to buy Ontology using Bitcoin, look out for the pair labeled BTC/ONT, and this will exchange your Bitcoin for Ontology tokens.

Buying Ontology using fiat currencies

The other way for you to buy Ontology tokens 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 Ontology, follow these simple steps:

Step 1: Register with an exchange

Registering with an exchange account is the first step in buying the Ontology coin. The Australian crypto market features several crypto exchange companies, and an investor is expected to choose a company that best aligns with their needs.

The account must support the Ontology tokens as well as AUD. There are certain personal details that the investor will be expected to provide when opening the exchange account. Some of this information includes name, phone number, and email address. For compliance measures that govern the exchange accounts, it is also required that verification be done using a government-issued identity card, a utility bill for proof of address, and others as specified by the account.

For security reasons, make sure that you set a very strong password when setting up your account. Also, use multi-factor authentication so that your account is safe from unauthorized access.

Step 2: Fund your account

Having registered the account, you have to fund it before you can finally buy the Ontology coins. Funding is done by linking the exchange account directly to your bank account and making a direct money transfer from the bank to the exchange. Alternatively, you can fund the exchange by using a debit or credit card.

Step 3: Buy Ontology

The next step involves purchasing the Ontology coins and comes right after funding has been done successfully. At this point, you must know that funding is done using AUD or other cryptocurrencies that you intend to have exchanged for the Ontology tokens.

To trade other cryptocurrencies for the Ontology tokens, choose the pairs that are matched against the Ontology tokens. For example, to trade Bitcoin for Ontology, select the pair that reads BTC/ONT.

If you wish to buy the tokens using USD, select the pair that reads AUD/ONT.

Having effectively and efficiently select the pairs that align with your specifications, confirm your transaction and check your mail to receive notification that the transaction is under processing.

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

How To Sell Ontology

When you have successfully bought your Ontology tokens, you may want to sell them for a profit or achieve the predetermined interest. Follow the following steps to sell the Ontology tokens.

First, sign in to the exchange account you opened earlier and navigated to the sell section. Select to specify the number of Ontology tokens you intend to sell or convert into cash. On the off chance that the exchange does not support exchanging Ontology tokens for AUD, the remaining option is to trade the Ontology coins for other cryptocurrencies like Bitcoin, Bitcoin Cash, or Ethereum. The exchanged cryptocurrencies can later be sold for AUD, and the funds withdrawn directly from the exchange account.

Which Wallets Can I Use To Hold Ontology?

Cryptocurrencies are held either of the following two types of crypto wallets:

First, the hot wallet, otherwise referred to as the online wallet. Hot wallets store the cryptocurrency online and for a brief duration, giving the holder a chance to retrieve them to transfer another investment easily.

The other type of wallet is the cold wallet, otherwise referred to as the offline wallet, and allows the holder to store their tokens externally on a hardware storage device like a USB drive. This type of wallet is safer and more reliable for larger amounts of coins because it is not vulnerable to hackers and other online threats.

How Ontology Works

Similar to other cryptocurrencies in the market today, Ontology is based on the blockchain network. The tokens bear a decentralized quality that makes it possible to buy Ontology coins and even sell them without a broker. Financial transactions are made easier, simpler, less costly, and very brief when the tokens are decentralized.