How to Buy Ontology in Australia

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

Last Updated July 23rd 2021
6 Min Read

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, that the fact that this is an extremely risky, volatile, and highly unpredictable investment arena. 

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

QUICK GUIDE: HOW TO BUY ONTOLOGY 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 Ontology.
  5. Enter how many Ontology coins you want to buy.
  6. Check the details and confirm your purchase.

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. 

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. 

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. 

Key things to consider before buying Ontology in Australia 

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

Availability 

A high supply market circulation enables easy and fast-selling or buying of the tokens.  

Usability 

Find out whether Ontology supports other DeFi projects as this raises its value with time.  

Volatility 

Prices constantly change, and investing in Ontology is no different.  

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.

Virtual currencies are highly volatile. Your capital is at risk.

FAQs 

Where can I buy Ontology in Australia? 

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

Are Ontology tokens volatile? 

Ontology tokens are extremely volatile; Just like with the other cryptocurrencies, their prices are always fluctuating. 

Can I buy Ontology with a credit card? 

Certainly! A credit card is one of the options.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.