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What is Arweave (AR)?

What is Arweave ?  

Arweave (AR) is a decentralised data storage protocol that aims to offer blockchain-based organisation a permanent data storage solution.  The protocol connects people with spare hard drive space to individuals and organisations that need data stored.  This process of creating a collectively owned hard drive has become a popular permanent storage option for non-fungible tokens (NFTs). 

The Arweave network is built on blockweave technology and allows users to preserve valuable information indefinitely. On top of this network, Arweave has developed a community-driven permaweb that anyone can contribute to and potentially be paid to maintain.   

Arweave tokens, known as AR, are primarily used for protocol governance, network transactions and distributed data storage. The project places a strong emphasis on letting its community make decisions on what is built on the storage protocol.   

Interest in buying Arweave? Swyftx has some of the lowest trading fees and smallest spreads on the Australian crypto market. Sign up to Swyftx Crypto Exchange to start trading today. 

Who are the founders of Arweave?  

Arweave was co-founded by Sam Williams and William Jones, both are Ph.D. candidates who studied at the University of Ken. Williams has a deep knowledge of decentralised technology and developed his own operating system called HydrOS while at university. Williams vision was to create a truly permanent data storage method that utilises blockchain technology. He brought Jones on to develop the technical details of the project, however, Jones later left the project to complete his Ph.D.   

in 2019 Arweave raised $5 million from venture capital firms Union Square Ventures and Andreessen Horowitz.

How to Buy Arweave in Australia

  1. Signup for free
  2. Verify your account
  3. Deposit AUD instantly
  4. Buy AR

Frequently Asked Questions

Where is the best place to buy Arweave ?

The best place to buy Arweave is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.

Is Swyftx Safe to buy Arweave ?

Yes, Swyftx is a safe and secure platform to buy and sell Arweave (AR). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.

Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.

You can find more information on our security practices here.

How is the price of AR determined?

The price of AR is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.

Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.

What deposit methods does Swyftx support?

You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:

  • Bank transfer
  • OSKO
  • PayID
  • POli
  • Credit or debit card

Swyftx also allows you to deposit cryptocurrency from another wallet into your account.

Can I buy Arweave with credit card?

Swyftx does not allow you to directly buy Arweave with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy AR instantly.

What are Swyftx's trading fees?

Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.

Dislcaimer: The information is for general information purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any assets. It has been prepared without regard to any particular investment objectives or financial situation and does not purport to cover any legal or regulatory requirements. Customers are encouraged to do their own independent research and seek professional advice. Swyftx makes no representation and assumes no liability as to the accuracy or completeness of the content. Any references to past performance are not, and should not be taken as a reliable indicator of future results. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose. Consider our Terms of Use and Risk Disclosure Statement for more.