Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Uma. 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

Uma

Australia has a decent number of popular and regulated crypto trading platforms, so it’s quite easy finding an exchange that has Uma. 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 Uma 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 Uma

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

Also, check out our comparison of the best places to buy bitcoin in Australia for those looking to learn more about the exchanges we like.

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 Uma, 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 Uma

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

ExchangeRatingCryptocurrenciesSite
Swyftx logo5/5300+ cryptocurrenciesVisit Swyftx
CoinSpot logo4/5200+ cryptocurrenciesVisit Coinspot
binance logo3/5400+ cryptocurrenciesVisit 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 Uma

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

  1. Sign in to the crypto exchange (like Swyftx).
  2. Click on Uma 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 Uma for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

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

How to buy Uma 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 Uma with your credit/debit card.

About Uma

Uniswap is a well-known decentralized trading protocol that allows automated trading of DeFi tokens.

Uniswap (AMM) is an example an automated market maker. It was launched in November 2018, and has been very popular thanks to DeFi.

Uniswap aims to keep token trading open and accessible for all token holders. It also aims at improving the efficiency of trading as compared to traditional exchanges.

Uniswap automates the resolution of liquidity issues and improves efficiency. This eliminates many of the problems that plagued the original decentralized exchanges.

Uniswap made a further move in September 2020 when it gave its own governance token (UNI), to all users who had used the protocol. This allowed Uniswap to increase its profitability as well as allowing users to have an influence on its future. This is a wonderful aspect of decentralized entities.

Uniswap was created to offer liquidity and trading services for the DeFi sphere.

This protocol is one the most important AMMs in use today. It automates exchange using a formula -- X x Y= K. Hayden Adams is the founder of Uniswap.

Uniswap is more than a liquidity provider. It's a decentralized exchange.

It automates market making, reduces costs and limits risk. It eliminates the need to identify users. Anyone can create a liquidity pool for any pair of tokens.

According to Uniswap, their governance token (UNI) was created to "officially enshrin[e] Uniswap into public-owned sustainable infrastructure while still carefully safeguarding its indestructible and autonomous qualities."

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