Phala Network (PHA) is a privacy-preserving computing service built on substrate, aiming to offer computing power comparable to existing cloud services. It aims to protect the privacy of managed users and enterprises. A main concern for public blockchains is privacy, and it prevents many individuals and businesses from using them. Phala Network aims to resolve this issue by providing confidential smart contracts and data protection services.
Phala is based on TEE-Blockchain Architecture where developers can deploy smart contracts. TEE refers to Trusted Environment Execution which allows confidential data to run in a private environment and outputs results alone with authorization.
PHA is a utility token that can be used for the following cases:
The best place to buy Phala Network 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.
Yes, Swyftx is a safe and secure platform to buy and sell Phala Network (PHA). 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.
The price of PHA 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.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Phala Network with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy PHA instantly.
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.
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