Arweave (AR) is the 58th largest cryptocurrency by market cap, valued at US$1,754,582,743.
Arweave is a highly volatile asset capable of major price swings in a single day. Today AR is trading for $26.7 USD, which is higher than yesterday's trading price of $22.58 USD. Over the past year, Arweave's price has seen an increase of 252%.
So before you buy Arweave, 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 Arweave.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy Arweave in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Arweave is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Arweave
You can now exchange your funds for Arweave. On beginner-friendly exchanges, this is as simple as entering the AUD or AR amount you want to purchase and clicking "buy".
Secure your Arweave
Consider transferring your AR to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy Arweave in
Australia
Find an exchange to buy, sell and trade AR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Arweave guide up-to-date
AR price data is regularly updated through data feeds so you always have the latest information.
What is Arweave?
The Arweave project is an innovative entrant into the cryptocurrency market with a focus on making data storage permanent. According to Arweave's blog, it aims to develop a collectively owned hard drive that never forgets. This is facilitated by a new type of blockchain-comparable system called the “blockweave”. Unlike traditional blockchains where each block is linked to the one prior in chronological order, each block in the blockweave is linked to the block immediately prior and a random previous one. The blockweave then implements a proof-of-access mechanism. This combination allows for far greater data storage on the network and helps Arweave to deliver its end goal – the “permaweb”. The permaweb is a decentralised, unchangeable and permanent Internet that can be browsed through and contributed to indefinitely. The platform is intended to counteract the issues of censorship, security and impermanence that plague the Internet of Things. AR is the native token to the Arweave ecosystem. The tokens are used to interact and store files on the permaweb as well as incentivise miners to contribute data to the blockweave.
How do I find the best places to buy Arweave?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in
Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Arweave?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Arweave.
This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing AR with your local currency then you will need to pass KYC.
Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy Arweave?
Once you've created an account, you will need to deposit funds to buy AR with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy AR:
Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
Cryptocurrency: You can usually purchase AR by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for AR on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Arweave?
The easiest way to buy AR is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying AR, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Arweave has been performing recently.
Best Arweave wallets to store your AR
You can keep your AR 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 AR below.
November, 2021: Arweave has experienced significant growth in the amount of files being stored within the network – 73% in the last week of October and 1,000% in the previous 3 months.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Arweave a good investment?
As with any investment, there are a number of factors to consider before buying a digital asset. For Arweave, here are a few things to consider.
Scalability. Scalability is an issue faced by many blockchains such as Bitcoin. Several new protocols are looking to address this issue in their architecture. With a protocol that intends to host the entire web, permanently, the issue of scalability becomes even more prominent. While certain web pages (Wikipedia, legal documents) can be saved, messenger conversations or random Facebook statuses provide a more taxing problem. Arweave's unique blockweave is one solution to this, but how the project continues to innovate will be important for future development.
Competition. Arweave is often compared to a network called Filecoin, which launched a few years earlier. The two projects have different fundamental use-cases; Arweave aims to tackle permanent file storage, whereas Filecoin is focused on expanding file storage. However, as the two projects exist in the same sphere, it may result in a loss of market share for Arweave. There are also future data storage projects, such as Storj, that will act as further competition for the protocol.
Dapp integration. A significant feature of the permaweb is its interaction with dapps. There are over 400 apps on the network. Greater adoption should influence the price of the native AR token.
Today's Arweave price versus ATH
Compare today's price of Arweave ($26.7 USD) against its all-time-high price of $89.24 USD on 05 November 2021. The closer the bar is to 100%, the closer AR is to reaching its ATH again.
Arweave's price: $26.7 USD ATH date: November 05, 2021
29.92%
Arweave ATH: $89.24 USD
How to trade, convert or sell Arweave
You can convert or sell your AR with the same exchange you bought it through:
Sign in to the exchange you have AR on.
If you store your Arweave in a digital wallet, compare crypto exchanges to convert or sell it on.
Choose Sell or Convert and place a sell order.
Choose the amount of AR you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Arweave.
Complete your transaction and move your AR to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Arweave, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of AR is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Arweave or any other cryptocurrency discussed.
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