Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy ICON. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent amount of reliable and regulated cryptocurrency exchanges, so it’s quite easy finding an exchange that has ICON. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy ICON in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has ICON in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying ICON, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer ICON.
It’s also possible to take a look at our analysis of the cryptocurrency trading platform If you’re interested in learning more about the exchanges we would recommend.
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 ICON, 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 ICON
The final step is to go to their asset list, find ICON, navigate to the buy section, and then trade your AUD for some ICX. Once you’ve bought ICON, 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 ICON (ICX)
|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 ICON
If you’re thinking about selling ICON, just follow the steps below.
- Sign in to the cryptocurrency exchange (like Swyftx).
- Click on ICON 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 ICON for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying ICON 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 ICON 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 ICON. Have a look on their site first, you might be lucky.
How to buy ICON 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 ICON with your credit/debit card.
ICON Network, a layer 1 blockchain, aims to create a multichain bridging network that is both scalable and chain-agnostic. ICON connects all other blockchains via BTP to its partners blockchains.
ICONaEUR(tm), the interoperability solution, offers Blockchain Transmission Protocol (BTP), ICONâ€™s main product. It supports cross-chain token swaps as well as more generic messaging features like corss-chain smart contract calls.
Many blockchains are connected to ICON ecosystem, such as Binance Smart Chain, Near Harmony, and Near, Harmony. Moonriver, Polkadot. ICE/SNOW, Ethereum.
ICON is a vibrant ecosystem that includes deFi protocols (Balanced, Omm), NFT platforms (Craft), and games.
ICON provides interoperability solutions that transcend existing connections and the base technology of Blockchain.
ICON is the hub that links all blockchains connected to the ICON ecosystem. It can be built with ICONaEUR(tm), Cosmos SDK or ICONaEUR(tm).
ICON's mission is to build a multichain future. It integrates with existing networks and creates new connections using its interoperability solution BTP.
ICON is a Proof-of-Stake network that has been delegated. This is when a majority stakeholder can delegate their share in the network - in this case, ICX aEUR", to registered validators who produce blocks or take part in governance. ICON's DPoS consensus permits non-technical stakeholders to reap the benefits of staking without having to create a node, or join a staking organization.
ICX holders can stake and delegate ICX ICON to PReps aEUR" entities registered to manage the ICON blockchain. This DPoS implementation offers the best of both worlds - stakers can earn passive rewards, while technical people interested in governing ICON or setting up infrastructure can do this.
The governance of the ICON Blockchain is performed by Public Representatives (PetReps). To become a PRep, a team or an individual must register on-chain. You will need to pay a 2,000 ICX registration fee. After registering, a P-Rep may begin to receive delegation in the form staked ICX.