Ethereum is an open-source blockchain-based software platform and features its own cryptocurrency called Ether (ETH), though this is still commonly referred to as Ethereum. The network is designed for smart contracts and decentralised applications (DApps). Similar to other cryptocurrencies, Ethereum can be used to send and receive value without interference from a third party. Individual developers and Proprietary companies (Pty Ltd) can create DApps that run on it, using blockchain technology for all of the data.
First launched in 2015, ETH quickly rose to become one of the most widely used digital currencies and it is the second-largest cryptocurrency in the world by market cap. Despite the growth of alternative blockchain networks, the majority of DApps exist almost exclusively on the Ethereum blockchain.
Ethereum is created through mining, however, there are other ways to acquire Ethereum such as purchasing it on a Cryptocurrency exchange. In theory, the supply of Ethereum is not capped unlike that of Bitcoin, and its supply schedule is determined by members of the Ethereum community. Trade Ethereum on a registered Ethereum exchange like Swyftx.
How to Buy Ethereum in Australia
You can buy Ethereum in Australia from a Cryptocurrency Exchange platform that supports the buying and selling of Ethereum (ETH), such as Swyftx. When you sell, trade and buy Ethereum in Australia with Swyftx, you trade with some of the lowest trading fees and smallest spreads on the Australian market which allows you to keep more in your pocket. To create an account, all you need to do is enter your name, email address and phone number and create a secure password. Once your account has been created, you’ll need to verify your identification. This is quick and easy to do – most people verify their account within 3 minutes. Next, you’ll be required to deposit funds into your account. Once funds have been successfully deposited, you can buy Ethereum instantly.
Why Use Swyftx to Buy ETH?
The Swyftx Trading Platform has its own app which means you can buy or sell ETH anytime, anywhere. With the ability to chart and monitor your favourite cryptocurrencies, set recurring ‘buy Ethereum’ orders and set automatic buy and sell orders, you’ll never miss out on an ideal Ethereum trade ever again.
If you’re new to cryptocurrency, you can use our demo mode to trade ETH and other digital assets with zero financial risk. This gives you access to real-time market data and figures, allowing you to learn and understand the markets in-depth. Then, when you are more confident and ready to trade, you can turn off demo mode and purchase cryptocurrencies with real AUD.
Can I buy Ethereum with a credit/debit card?
With Swyftx you can deposit money into your account with a credit or debit card, which can be used to buy ETH. To deposit Australian dollars into your account with your credit card, you will need to navigate to the AUD deposit page. When you are on this page you will need to select the credit card deposit option and then follow the steps to deposit funds. Once you have money deposited into your account, you can buy Ethereum instantly. You’ll need to enter the amount of Ethereum you’d like to buy and then simply click the ‘Buy ETH’ button. Swyftx also allows you to deposit funds via other payment methods like bank transfer, POLi and PayID.
How to Sell Your Ethereum
If you want to sell some of or all of your ETH on Swyftx, you need to click on the sell tab and set the price limit. This is the price that you want to take profit at. After that, you’ll need to enter the amount of Ethereum that you wish to sell, by providing either the quantity of ETH or the quantity of what the ETH is worth at the sell price.
