Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Syscoin. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good number of popular and regulated cryptocurrency exchanges, so it’s quite easy finding an exchange that has Syscoin. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Syscoin in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Syscoin in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Syscoin, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Syscoin.
If you’d like to know more about which exchanges we like, check our list of the best places to buy bitcoin 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 Syscoin, 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 Syscoin
The final step is to go to their asset list, find Syscoin, navigate to the buy section, and then trade your AUD for some SYS. Once you’ve bought Syscoin, 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 Syscoin (SYS)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
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How to Sell Syscoin
If you’re thinking about selling Syscoin, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on Syscoin 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 Syscoin for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Syscoin 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 Syscoin 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 Syscoin. Have a look on their site first, you might be lucky.
How to buy Syscoin 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 Syscoin with your credit/debit card.
Syscoin is a smart contract platform that supports a cutting-edge Web 3.0 ecosystem. It offers low fees and decentralized Layer-1 Security. Rollups allow for Layer-2 scaling, which allows for economies-of-scale. Syscoin supports smart contract in Metaverse, IoT, Smart Cities and future interplanetary economies. Syscoin's roadmap includes ZK-Rollups, Optimistic Rollups, Validium, and DAOSYS. These are all new types of DAOs which aim to provide self-sovereignty as well as governance-free treasury administration.
Syscoin, a smart contract platform and rollup platform, secures transactions via Bitcoin's Proof of Work. It also uses the network of miners via merge-mining. Syscoin offers Finality via chainlocks that are served with masternodes and quorums. This Finality makes it safer to do Defi. This Finality effectively eliminates both the 51% attacks and long-range miner extracted values (MEV), attacks that Ethereum is still vulnerable to. It retains the Nakamoto consensus and Proof of Work but also allows for safer Defi.
Syscoin, a dual-chain architecture, uses a rollupcentric design. This consists of an Ethereum-based blockchain called Network Enhanced Virtual Machine (NEVM), which was released December 6, 2021. It is compatible with all smart contracts and Rollups for Ethereum. Syscoin Core or Syscoin Major is the other blockchain. It is a Bitcoin-based cryptocurrency that has an asset layer that supports both fungible and non-fungible tokens, taproot, and a proprietary DAG protocol called ZDAG. Syscoin allows users and developers to use the strengths of both models, and Syscoin may create new synergies when necessary. Both blockchains use the native currency SYS which is based on EIP-1559. Syscoin Bridge is trustless and permissionless. It allows SYS owners transfer SYS between chains via a 2-way peg mechanism.
This project is broad in scope and offers innovative solutions to industry-wide issues, including regulatory compliance. Syscoin offers Notary as an opt-in solution to compliance. This allows companies to use Syscoinâ€™s public Blockchain for tokens. It ensures regulatory compliance on individual transactions while asset owners retain their self-custody. This technical foundation is essential for the future, where securities and stocks can participate in Defi on publicly blockchains along with other tokens.