Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Reef Finance. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent number of popular and regulated crypto trading platforms, so it’s quite easy finding an exchange that has Reef Finance. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Reef Finance in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Reef Finance in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Reef Finance, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Reef Finance.
Or, if you’d like to know more about which exchanges we like, check our comparison of the safest crypto exchanges in Australia.
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 Reef Finance, 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 Reef Finance
The final step is to go to their asset list, find Reef Finance, navigate to the buy section, and then trade your AUD for some REEF. Once you’ve bought Reef Finance, 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 Reef Finance (REEF)
|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 Reef Finance
If you’re thinking about selling Reef Finance, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on Reef Finance 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 Reef Finance for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Reef Finance 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 Reef Finance 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 Reef Finance. Have a look on their site first, you might be lucky.
How to buy Reef Finance 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 Reef Finance with your credit/debit card.
About Reef Finance
Reef is a fast, reliable layer-1 blockchain that can be used for gaming, NFT, and DeFi. Substrate Framework is used to build it and allows for high scaling. This allows for fast, low-cost transactions. Developers can seamlessly migrate DApps to Ethereum using Solidity and EVM Support.
Reef Chain is an EVM compatible, advanced blockchain. It can be self-upgradable and has on-chain governance. Its infrastructure permits for EVM extensions that allow native token bridge and scheduled calling (ie. recurring payments and smart contract in-place code upgrades. Developers will be able to code in multiple languages thanks to the addition of VMs. It is based on the Nominated Proof-of-Stake consensus mechanism, (NPoS), that allows for both scalability and low fees.
REEF is the native symbol used to:
- Storage and processing fees
- You can stake REEF tokens to run validator nodes.
- A way to nominate validator nosdes should be included in the network.
Reef is managed and backed by a variety of top venture capitalists, such as NGC, QCP, Bitcoin.com, and LD Capital. TRG Capital, Kenetic Capital, and TRG Capital. Krypital Group and Genesis Block, Woodstock Fund.
Reef Chain development tools include:
- Smart contracts can be developed in EVM and Remix integrated environments
- Reefscan Blockchain Explorer is available to assist with validators deployment, bonding, nomination validators and contract debugging.
- Developers can deploy applications in their local environment using the Reef command line tools.
- Use Reef wallet to interact and access the blockchain
Reef is for DeFi users and cryptocurrency newcomers who have trouble keeping up with multiple wallets and funds on different blockchains. Substrate allows fast transactions at a low cost. Some argue that DeFi protocols are unusable because of Ethereum's fees.
Reef Chain's unique feature is that any DeFi protocol that has been deployed on Ethereum, or another EVM compatible network, can be run on Reef. Reef Chain connects Ethereum and Polkadot. It can also be used to connect with other blockchains. Anybody can access the Reef ecosystem with a Web3 wallet.
Reef is extensible because Substrate was used. It supports multiple Virtual Machines (Virtual Machines), and extensions for popular VMs such as EVM (Ethereum Virtual Machine). It supports on-chain upgrading, which allows for new features to be easily pushed through both on-chain governance and the networking layer.