Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Stacks. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent amount of popular and regulated cryptocurrency trading platforms, so it’s quite easy finding an exchange that has Stacks. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Stacks in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Stacks in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Stacks, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Stacks.
Also, take a look at our analysis of the best cryptocurrency platforms If you’re curious to know 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 Stacks, 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 Stacks
The final step is to go to their asset list, find Stacks, navigate to the buy section, and then trade your AUD for some STX. Once you’ve bought Stacks, 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 Stacks (STX)
|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.
Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.
How to Sell Stacks
If you’re thinking about selling Stacks, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on Stacks 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 Stacks for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Stacks 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 Stacks 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 Stacks. Have a look on their site first, you might be lucky.
How to buy Stacks 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 Stacks with your credit/debit card.
Stacks is a layer-1 blockchain solution that brings smart contract and decentralized apps (DApps) to Bitcoin (BTC). These smart contracts can be added directly to Bitcoin, without any impact on its security or stability.
These DApps can be built over each other's apps, allowing developers the ability to create features not possible with regular apps. Stacks uses Bitcoin as its base layer. This means that all transactions on the network are settled using Bitcoin, which is arguably the most trusted and secure blockchain.
The platform is powered by the Stacks token (STX). It's used to execute smart contracts, process transactions and register digital assets on the Stacks2.0 Blockchain.
Blockstack was the original platform name. It was rebranded to Stacks in Q42020 to differentiate the ecosystem from Blockstack PBC, the company that developed the original protocols.
January 2021 was the day that Stacks 2.0's mainnet was launched.
Stacks aims at taking the best bits of Bitcoin and adding additional functionality without the need to fork or alter its original Bitcoin blockchain.
It connects directly with the Bitcoin blockchain via its proof-oftransfer mechanism (PoX consensus). To create new Stacks tokens, miners must pay in Bitcoin. STX token holders can stack their tokens (not stake) and receive Bitcoin as a reward.
Stacks has introduced Clarity, a smart contract programming language. Because of its clear syntax, it's easy to use and secure. Algorand (ALGO), which is a blockchain that uses smart contract-centric programming languages also uses it.
Stacks was also first cryptocurrency to receive SEC certification in the United States for a sale. It was able to launch a $28 million Reg A+ cash sale of STX tokens in July 2019.