Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy IoTeX. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent number of reliable and regulated cryptocurrency exchanges, so it’s quite easy finding an exchange that has IoTeX. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy IoTeX in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has IoTeX in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying IoTeX, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer IoTeX.
You can also check out our comparison of the best Australian crypto exchanges If you’re interested in learning more about which ones 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 IoTeX, 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 IoTeX
The final step is to go to their asset list, find IoTeX, navigate to the buy section, and then trade your AUD for some IOTX. Once you’ve bought IoTeX, 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 IoTeX (IOTX)
|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 IoTeX
If you’re thinking about selling IoTeX, just follow the steps below.
- Sign in to the cryptocurrency exchange (like Swyftx).
- Click on IoTeX 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 IoTeX for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying IoTeX 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 IoTeX 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 IoTeX. Have a look on their site first, you might be lucky.
How to buy IoTeX 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 IoTeX with your credit/debit card.
IoTeX was established in 2017 as an open source project. Since then, it has developed a decentralized platform to allow the open economics for machines. Under carefully planned economic incentives, this open ecosystem allows machines and people to interact with one another with trust and free will.
IoTeX is an international network of 40 scientists, engineers and researchers. Roll-DPoS was used to build the blockchain. It was launched in April 2019, and has processed more than 10 million transactions. On top of the IoTeX blockchain, the team has built the essential blocks of infrastructures to connect with Ethereum, BSC, and Heco blockchains such as ioPay wallet (https://iopay-wallet.iotex.io/) and ioTube bridge (https://tube.iotex.io/), which serve ten thousands of users. IoTeX makes it possible for EVM-based DApps without worrying about high gas prices.
On top of the IoTeX Blockchain, middleware such as Decentralized Identity, Confidential Computing and Decentralized Identity was developed to enable self-sovereign devices such as Ucam real-world Oracles like Pebble. The former (https://ucam.iotex.io/) has been deployed to 3000+ households (http://iott.network/) and still proliferates. However, the latter was initially launched to 300+ developers and allows for innovative Dapps that connect the physical and crypto worlds. This includes weather derivatives as well as real-world NFTs.
IoTeX is the backbone of machine economy and supports everything from autonomous cars to smart homes. IoTeX created and launched a fast, high-performance, EVM compatible blockchain in order to accomplish this goal. It is flexible and scaleable for various applications. Dapps, middlewares and other applications are built on top of it to bring self-sovereign devices and real-world oracles into reality.
IOTX, the native cryptocurrency that governs and provides the gas for the Blockchain protocol, is IOTX. Burndrop (http://burndrop.iotex.io/) is a unique economical design that leads to deflation of IOTX while the number of devices orchestrated by IoTeX increases.