- ICON uses smart contracts to connect multiple blockchains.
- It is supported by the South Korean government and Samsung.
- The protocol is growing in popularity with developers and crypto traders alike.
You can trade ICX on a number of exchanges from Australia. To find out where and how you can buy ICON, read on.
Where to buy ICON
Step 1: Find an exchange that offers ICON
ICON is a popular altcoin. Several of the most popular cryptocurrency exchanges have listed the coin. If you are comparing exchanges, make sure to research their fees, security, and reputation.
Step 2: Register and get verified
Before you can buy ICON using an exchange, you have to first open an account. Once your account is open, you will need to verify your identity. This is partly to comply with regulation and for security. In addition to your name, date of birth, and address, you'll probably be required to provide at least one proof of identity. A copy of your driving licence, passport, or another government-issued ID will suffice. ID verification is typically a fairly fast.
Step 3: Deposit funds
You can deposit funds into your account with a transfer of fiat currency from your bank account or with a credit or debit card. Alternative funding methods may be supported including PayID, PayPal, and POLi, but this varies widely. It could take several days for the funds to clear and be usable. If you already have cryptocurrency elsewhere, you may also be able to fund your account using that. It's not uncommon for an exchange to require a minimum deposit.
Step 4: Set a budget
Work out how much you can spend on buying ICON and stick to it. Crypto is a volatile and often speculative investment, so you should only ever invest money that you can afford losing.
Step 5: Purchase ICON
With your verified and funded exchange account, you can purchase ICON. Recurring buys may be an available if you want to dollar cost average over time.
Where to store your ICON
The most convenient location to store your ICX coins is in the wallet at the exchange where you bought it. But, you don't need to keep it there. It's possible to transfer to another wallet under your control elsewhere, including to a hardware wallet for greater security.