How To Buy Spark (FLR) In Australia 

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

Last Updated May 20th 2022
5 Min Read

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

Before you start your investment journey in Spark, you first need to equip yourself with knowledge of Spark and how you can best invest in this cryptocurrency. 

Spark is the native token of Flare (FLR), and can be used to collateralize the trustless issuance of FXRP. FXRP is a fully trustless representation of XRP on Flare. While the Spark token was originally developed to offer smart contract functionality to XRP, it does this on an entirely different or separate blockchain. There is a maximum supply of 100 billion Spark (FLR) tokens.

Spark is a DeFi token that enables holders to gain scalability over issues present in the traditional financial sector, including high transaction fees and lack of security. Spark runs on the Binance Smart Chain blockchain. The incubation of Flare was done by Ripple's startup accelerator program Xpring in November 2019. Other than XRP, FLR supports three other crypto assets: XLM, LTC, and DOGE.

How To Buy In Spark In Australia – Quick Guide

To help you buy Spark 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 Spark on eToro – Search for FLR or Spark in the eToro crypto market.
  • Step 5: Buy FLR – Enter the amount of the worth of Spark 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 Spark in Australia in less than 5 minutes.

 

Where To Buy Spark In Australia 

Are you looking at how to buy Spark 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 Spark (FLR) in Australia:

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

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

A Step-by-Step Guide To Buying Spark (FLR) In Australia 

When buying FLR tokens, you need either AUD or other cryptocurrencies that you can exchange for the tokens. 

Buying Spark with other cryptocurrencies 

If you are holding other coins in a crypto wallet, you can exchange them for FLR tokens. The most common token you can use is Bitcoin because it is found in almost all exchanges in Australia, and it is readily tradable. 

To trade Bitcoin for Spark, deposit some tokens from your crypto wallet and then purchase Spark using the BTC/FLR. 

Buying Spark with fiat currency 

If you have not invested in other cryptocurrencies, you can choose to buy Spark with the AUD. All you need is to find an exchange that allows deposits in AUD. Luckily, most exchanges in Australia allow this. 

To start buying Spark in Australia, follow these steps: 

Step 1: Open an Exchange Account 

Sign up on a crypto exchange in Australia. There are many of them, and in this case, you need to choose one that supports FLR and AUD. To open an exchange account, you will need to provide your details such as your name, email address, and phone number. To verify your identity, you need to give a copy of a government-issued ID. 

Step 2: Fund your Account 

The next step is to fund your account. Several deposit options will be provided to you, ranging from using credit cards to using online payment platforms such as PayPal. Select the deposit option that is most convenient to you and enter the amount of AUD you want to spend.

Step 3: Buy Spark 

Once you have funds in the account, you can either use them or use your other crypto holdings. If you select a crypto-crypto paid, you can look for the pair written BTC/FLR, ETH/FLR, or any other similar pair under the ‘buy’ section. 

If you want to buy using fiat currency, look for the AUD/FLR pair. Afterwards, confirm your order, and you will receive a notification that your SPARK tokens have been added to your exchange account. 

Read Also: 15 Reasons Why You Should Invest In Spark FLR Today

How To Sell Spark (FLR)

Selling FLR tokens entails the same process as buying it. You can sell FLR for cash or other cryptocurrencies. The only difference is that you will be navigating the ‘sell’ option. 

If there is no option for directly selling FLR for cash, you can change it for other cryptos that you can later cash out. 

Which Wallets Can I Use To Hold Spark (FLR) Tokens? 

There are two main wallets that you can use to hold Spark. There is a cold wallet and a hot wallet. 

A hot wallet is like the one on the exchange account. The wallet will store your crypto online, so it is readily available whenever you need to trade. You can also use a cold wallet usually stored offline on an external device. Cold wallets are ideal if you do not want to trade regularly. 

How Spark (FLR) Works 

The role of the spark token is to colaterize the trustless issuance of FXRP on Flare. These tokens will also be used to generate useful data on Flare through an oracle system, and they are also used for network governance and spam prevention. 

Key Things To Consider If You’re Thinking About Buying Spark (FLR) In Australia 

Below are some of the things to consider before buying Spark in Australia: 

Risky nature 

Crypto trading is very risky because coin prices keep fluctuating. To invest in the market, you need to have a high-risk appetite ad invest with caution. 

Price movement 

It would help if you also studied the price movement of Spark before investing in it. If the prices are doing well, then your risk is minimized by a small percentage. 

Usability 

You also need to check whether Spark is being used for purposes other than trading. Such purposes may include funding DeFi projects. The more uses a token has, the more likely it is a worthy investment.

eToro – Best Exchange To Buy Spark 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 FLR tokens in Australia? 

To buy Spark in Australia, open a crypto exchange account, fund it and purchase Spark. 

Can I buy FLR with a credit card? 

You can buy Spark using a credit card. The option can be found on your exchange account, with most exchanges offering a tutorial for the same. 

How can I Sell FLR? 

If you want to sell Spark, you can do so from the crypto exchange account.