How to buy Avalanche (AVAX) from Australia

By   |   Verified by David Boyd   |   Updated 21st September 2022

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  • Interested in taking a position in Avalanche for exposure to this Ethereum challenger?
  • Find where you can buy the AVAX token.
  • Step-by-step guide through the entire buying process.

Avalanche is an open-source blockchain technology that competes with Ethereum. It uses a proof-of-stake consensus mechanism. One of its defining features is speed: transactions are verified very quickly on the Avalanche network, which is one of the reasons why the project is tipped as a long-term alternative to Ethereum.

Want to find out how to buy Avalanche in Australia? Read on for your full step-by-step guide.

Not sure which exchange to use?

Where to buy Avalanche

eToro Crypto

On eToro's website

Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.

Highlights

  • Access thousands of assets across multiple categories.
  • Copy trades of popular investors that trade Crypto.
  • Access powerful analysis tools and innovative social features.

Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.
Swyftx

On Swyftx's website

Highlights

  • Receive $10 worth of BTC when you sign up and verify your account.
  • Trade over 260 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
  • Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
  • New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.

Pros

  • Trade more than 300 crypto assets through the Swyftx platform.
  • Offers tight spreads and low trading fees.
  • Get support within 5 minutes through their live chat.
  • Practice trading with a demo mode.

Cons

  • Lacks access to advanced trading markets.
CoinSpot

On CoinSpot's website

Highlights

  • Buy Bitcoin, Ethereum, XRP and over 370 other digital currencies.
  • Refer a friend and earn $10 BTC.
  • Get 24/7 helpdesk support.

Pros

  • Trade for only 0.1% and withdraw in AUD for free.
  • Multiple deposit options.
  • Access CoinSpot NFT Marketplace.
  • CoinSpot is regulated by AUSTRAC and is ISO certified

Cons

  • Margin trading is not available.
Digital Surge

On Digital Surge's website

Highlights

  • Trade 270+ crypto assets in a clean design that's easy and fast to use.
  • Live chat support available 7 days a week with average response times of less than 1 minute.
  • Invest in crypto for your SMSF and get ATO compliant reporting.

Pros

  • Quick sign-up and verification process.
  • Fees are low and the fee structure is clear.
  • Has an Australian-based support team.

Cons

  • For fiat deposits, AUD is the sole choice.

First time buying?

How to buy Avalanche

Step 1: Open an account with an exchange

AVAX is offered on many cryptocurrency exchanges. Exchanges are the easiest way to purchase cryptocurrency, particularly if you are new to crypto.

When comparing exchanges, be aware of transaction costs (maker and taker fee, sometimes spread) and if there are any fees for depositing fiat currency, available order types, and other features such as the ability to stake, take out crypto-backed loans, or buy NFTs, etc.

Those exchanges listed on this page have all listed Avalance on their trading platform.

Step 2: Get verified

You'll probably be asked to provide your personal information — like your name, telephone number, email address, etc. — in order to get verified and start trading.

Verifying your identity will require any valid photo ID, such as your passport or driver's license. The verification may take about five minutes to complete. After your identity has been verified, you'll be able to begin trading.

Step 3: Decide how much to allocate

Cryptocurrencies are volatile investments and just like any other crypto token, Avalanche’s price has experienced both bull runs and bear markets. Therefore, you should only invest money you can afford to lose should the market turn after you buy.

Step 4: Deposit funds

You can transfer fiat (USD) to your account from a bank account or debit card. Some exchanges accept credit cards too. Payment services such as Payoneer, PayPal, Skrill, Venmo, etc., may be accepted too depending on the exchange.

Note that if you use a credit card to deposit funds, you'll likely be charged a fee on that transaction. Some exchanges do not allow crypto-to-crypto deposits.

Step 5: Buy AVAX

Market orders can be an excellent option for people who wish to buy AVAX quickly and are not concerned about slippage costs.

Many exchanges let you create orders that can be instantly executed at any point in time that AVAX reaches a specific price point. For example, you can configure an order to buy AVAX in the future when it hits a certain price (assuming your account is funded) or to sell if its price falls below a certain price.

Some exchanges support recurring orders, making it easy to build a position in Avalanche over time with additional purchases at set intervals, e.g. each week or every month. This strategy helps average out the price of AVAX over time.

After you buy

Where to store your Avalanche

To have easy access to AVAX tokens, store them in the exchange's hot wallet where you purchased the tokens. You may transfer them to an account at another exchange later. Note that hot wallets are connected to the internet, making them more vulnerable to hacking attacks, theft of funds, and malware. Bear this in mind if you plan on holding a substantial amount of crypto on an exchange.

A more secure, less convenient alternative is to keep your Avalanche tokens in a cold wallet.