Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy STEEM. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good amount of reliable and regulated crypto trading platforms, so it’s quite easy finding an exchange that has STEEM. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy STEEM in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has STEEM in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying STEEM, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer STEEM.
If you’d like to know more about which exchanges we prefer, read our list of the cryptocurrency brokers 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 STEEM, 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 STEEM
The final step is to go to their asset list, find STEEM, navigate to the buy section, and then trade your AUD for some STEEM. Once you’ve bought STEEM, 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 STEEM (STEEM)
|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 STEEM
If you’re thinking about selling STEEM, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on STEEM 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 STEEM for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying STEEM 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 STEEM 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 STEEM. Have a look on their site first, you might be lucky.
How to buy STEEM 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 STEEM with your credit/debit card.
Steem is a community-focused cryptocurrency that creates immediate earning opportunities for its users. Based on their contribution to the network, customers can earn. It allows users to upload content online and to receive cryptocurrency payments.
This protocol, which is open-source and incentive-based, allows users to interact with one another and earn in return. To offer value, the network makes use of both cryptocurrency and social media technology. The network ensures fair treatment for contributors by offering a reward system that reflects each user's contribution.
Steemit launched July 4, 2016, the first Steem-based application. This protocol is intended to provide value to its users in these ways.
- To provide carefully selected news and commentary.
- Make a living by creating opportunities.
- It provides answers to users' questions.
- Secure cryptocurrency tied to USD
Many social media companies have made huge profits from the content of their users. Steem is unique in that it rewards users for contributing to the platform.
It is unique because of its blockchain-based technology. It is also non-custodial and decentralized. There are no data abuses. All data on the platform are protected. For their participation on the platform, users are paid in cryptocurrency.
Steem's fundamental principle states that everyone who contributes to a venture should be paid. This is similar to how startups allocate shares during funding rounds. Steem's second core belief is to serve its community through offering financial services and other opportunities.