How to buy Aptos (APT) in Australia

Aptos (APT) is the 26th largest cryptocurrency by market cap, valued at US$5,294,466,191.

Aptos is a highly volatile asset capable of major price swings in a single day. Today APT is trading for $10.27 USD, which is lower than yesterday's trading price of $10.34 USD. Over the past year, Aptos's price has seen an increase of 109%.

So before you buy Aptos, make sure you understand these unique risks as well as its legal and tax status here in Australia.

If you're ready to get started, read on for step-by-step instructions on how you can use to buy Aptos.

Where to buy Aptos in Australia

Find an exchange to buy, sell and trade APT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

What is Aptos?

Aptos (APT) is a layer-1 blockchain launched on October 19, 2022 by a team that includes several former Meta developers who worked on Facebook's stablecoin project, Diem. Aptos Labs raised $400 million in VC funding from firms including FTX Ventures, Jump Crypto and Coinbase Ventures.

It is a proof-of-stake (PoS) chain built upon the Move programming language, designed for smart contract development. Move is also the programming language used by Diem, which after much hype, unraveled due to regulatory backlash.

The Aptos development team, many of whom were core developers on the Diem project, have been working on APT for around 4 years, intending to make crypto transactions faster and cheaper.

The Aptos blockchain promises to handle up to 160,000 transactions per second (TPS). However, at launch it came under immediate scrutiny after falling well short of this figure with claims that it only handled around 4TPS.

In addition, concerns have been raised regarding the project token distribution, with core contributors, the Aptos foundation and investors receiving a large sum (49%) of the total APT supply.

Best Aptos wallets to store your APT

You can keep your APT on the exchange you purchased it on, or move it to a personal wallet:

• Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
• Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your APT below.

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is Aptos a good investment?

Aptos has large goals and aims to be at the forefront of the layer-1 blockchain race, competing with the likes of Ethereum and Solana.

"Committed to developing products and applications on the Aptos blockchain that redefine the Web3 user experience." - Aptos Labs

While the technology and transaction processing speed sound promising, concerns have already been raised around factors including project tokenomics, value proposition and competition. Other things to consider before you invest in APT include:

• Token allocation. 130 million of the total 1 billion APT supply have been released upon its exchange listing - 13% of the total supply. This number is typical of new project launches, generally accompanied by VC vesting schedules and incentivized token distribution for validators. Although the distribution schedule for core contributors and investors is outlined in its tokenomics overview and includes no APT unlocks for the first 12 months, the fact that a small group holds a substantial quantity of tokens worth considering - especially in crypto where the market relies on decentralization and transparency.
• Market value. APT opened trading at about US$8.50 with a total market cap of nearly US$1 billion. This listing price may be interpreted as a high valuation for an unproven project. Aptos' initial valuation is likely largely due to the project's founders and their recognition as experienced project leads at Facebook and Diem. While this may seem like an overvalued listing price, having a trusted name attached to a project has worked favorably for other cryptocurrencies, including Polkadot and Cardano. Both of which gained instant traction due to their creators being recognized industry experts and co-founders of Ethereum.
• Competitor projects. Aptos is competing for market share with the likes of Ethereum, Solana and Polkadot. These projects have been around far longer and are more battle-tested cryptos, with ecosystems of dApps already built upon their blockchains. If Aptos is unable to prove itself as an improved layer-1 chain, there is no reason for dApps to switch to its network or for new projects to choose it as a preferred development platform.

Today's Aptos price versus ATH

Compare today's price of Aptos ($10.27 USD) against its all-time-high price of $19.92 USD on 26 January 2023. The closer the bar is to 100%, the closer APT is to reaching its ATH again.

How to trade, convert or sell Aptos

You can convert or sell your APT with the same exchange you bought it through:

1. Sign in to the exchange you have APT on.
2. If you store your Aptos in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of APT you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Aptos.
6. Complete your transaction and move your APT to a crypto wallet for storage.

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