Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Fantom. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent amount of trusted and regulated crypto exchanges, so it’s quite easy finding an exchange that has Fantom. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Fantom in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Fantom in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Fantom, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Fantom.
You can also take a look at our analysis of the cryptocurrency exchange reviews if you’re interested in learning more about which ones we prefer.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy Fantom, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy Fantom
The final step is to go to their asset list, find Fantom, navigate to the buy section, and then trade your AUD for some FTM. Once you’ve bought Fantom, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy Fantom (FTM)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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How to Sell Fantom
If you’re thinking about selling Fantom, just follow the steps below.
- Sign in to the crypto trading platform (like Swyftx).
- Click on Fantom in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell Fantom for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Fantom in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy Fantom with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Fantom. Have a look on their site first, you might be lucky.
How to buy Fantom with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Fantom with your credit/debit card.
Fantom is a directed acyclicgraph, smart contract platform and Decentralized Finance (DeFi) service provider to developers via its own consensus algorithm.
Fantom and FTM, the in-house token of Fantom, aim to solve problems associated with smart-contract platforms. Transaction speed is one of the benefits. Developers claim that they have reduced this time to less than 2 seconds.
The Fantom Foundation oversees all aspects related to the Fantom products. It was created in 2018 with the launch of OPERA, FantomaEUR (tm)'s mainnet in December 2019.
Fantom is an open-source and decentralized smart contract platform which allows DApps to be created. It was created as an alternative to Ethereum. Fantom is designed to address the shortcomings of older generation blockchains and balance three key elements: security, scalingability, and decentralization. This project offers a variety of tools to make it easier to integrate existing DApps. This project also features a detailed staking reward system and a built-in DeFi tool.
Fantom, a Layer-1 Blockchain uses a built consensus mechanism as well as an independent consensus layer called Lachesis, to facilitate DeFi, and other smart contract-based services. Lachesis provides security for additional layers such as Opera and FantomaEUR (tm)'s EVM-compatible smart contract chain. The long-term goal is to grant compatibility between all transaction bodies around the world.
Fantom's strengths are its speed in transaction processing and efficiency. Transactions can be completed in just 1-2 seconds, and they cost less than one penny per transaction. Fantom provides greater scalability for a lower price.
Fantom attempts to build a consensus mechanism to allow DeFi and other related services that are based on smart contract technology from scratch.
Lachesis promises much more capacity and faster transaction completions than traditional algorithm-based proof-of-stake (PoS) platforms.
It is similar to Ethereum, and will appeal to developers who are interested in decentralized solutions. According to its official literature, the project's mission is "to ensure compatibility among all transaction entities across the globe."
FTM is the PoS token in-house of FTM. It allows for fees collection and stake activities. This token also offers user rewards.
Fantom raised almost $40 million in token sales in 2018 to fund its development.