Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Near Protocol. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!

Sign up with Swyftx

Near Protocol

Australia has a good amount of trusted and regulated crypto trading platforms, so it’s quite easy finding an exchange that has Near Protocol. 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 Near Protocol in Australia

There are only 4 main steps involved and it’s pretty straightforward:

  1. Choose a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with AUD
  4. Buy Near Protocol

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 Near Protocol 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 Near Protocol, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Near Protocol.

Alternatively, if you want to know more about the exchanges we prefer, read our list of the best crypto trading platforms in Australia.

2. Sign up with the crypto exchange

Once you’ve decided on which exchange to use, it’s time to sign up.

Sign up with Swyftx and grab $20 free BTC.

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 Near Protocol, 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.

Swyftx Deposit Methods

4. Buy Near Protocol

The final step is to go to their asset list, find Near Protocol, navigate to the buy section, and then trade your AUD for some NEAR. Once you’ve bought Near Protocol, 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 Near Protocol (NEAR)

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How to Sell Near Protocol

If you’re thinking about selling Near Protocol, just follow the steps below.

  1. Sign in to the crypto trading platform (like Swyftx).
  2. Click on Near Protocol in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
  3. FInd the sell section and sell Near Protocol for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

Is buying Near Protocol 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 Near Protocol 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 Near Protocol. Have a look on their site first, you might be lucky.

How to buy Near Protocol 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 Near Protocol with your credit/debit card.

About Near Protocol

NEAR Protocol is a layer-one crypto currency that was designed to serve as a community-run cloud computing platform. This eliminates many of those limitations that plagued previous blockchains, such as slow transaction speeds or poor interoperability. This makes DApps possible and allows developers to easily use the platform. NEAR uses human-readable account numbers. This is different to the cryptographic wallet addresses used in Ethereum. NEAR uses its own consensus mechanism called "Doomslug" and has unique solutions to scaling problems.

NEAR Protocol is being developed by the NEAR Collective. This community is currently updating the initial code and releasing updates to the ecosystem. The community is working to build a platform that can be used by everyday users, while still being secure enough to handle high-value assets like money and identities.

Two examples of projects that are built on NEAR Protocol include Flux (which allows developers to create markets based on assets or commodities) and Mintbase (an NFT-mining platform).

NEAR uses Nightshade technology for dramatically increasing transaction throughput. Nightshade is a type of sharding that allows multiple sets of validators to process transactions simultaneously on multiple sharded chains. This improves the overall capacity of the blockchain. Nightshade is a different type of sharding. NEAR Protocol can reach near-instant transaction completion and achieve 100,000 transactions per minute by using Nightshade.

NEAR Protocol makes it easier to onboard other blockchains. It uses human-readable addresses and creates decentralized applications with a similar registration process as what users have seen. Developers can also use modular components to quickly create projects, such as token contracts or NFTs.

NEAR announced a $800 million ecosystem funding initiative on October 25, 2021. This follows the example of Layer-1s Blockchains like Celo, Fantom and Avalanche. This fund will be used to bankroll initiatives that seek to increase growth in the NEAR protocol ecosystem. Proximity Labs provided $350 million of funding. $250 million will be used to scale existing projects. Startup Grant Pools will receive $100 million, where 20 startups will each receive $5M. NEAR will finance Decentralized Finance (DeFi-focused groups) that "actively transform and reimagine how we interact with money." NEAR is actively looking for projects that utilize NFTs, DAOs and gaming. NEAR recently raised $150 million via a seed investment led by Three Arrows Capital. Dragonfly Capital, Mechanism Capital, and other investors participated in additional capital. This money will be used to accelerate Web3 technology adoption.