Avalanche (AVAX) is the 12nd largest cryptocurrency by market cap, valued at US$11,844,037,866.
Avalanche is a highly volatile asset capable of major price swings in a single day. Today AVAX is trading for $30 USD, which is higher than yesterday's trading price of $28.48 USD. Over the past year, Avalanche's price has seen an increase of 121%.
So before you buy Avalanche, 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 Avalanche.
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 Avalanche 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 Avalanche 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 Avalanche
You can now exchange your funds for Avalanche. On beginner-friendly exchanges, this is as simple as entering the AUD or AVAX amount you want to purchase and clicking "buy".
Secure your Avalanche
Consider transferring your AVAX 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 Avalanche in
Australia
Find an exchange to buy, sell and trade AVAX 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 Avalanche guide up-to-date
AVAX price data is regularly updated through data feeds so you always have the latest information.
What is Avalanche?
Avalanche is a decentralised network that introduces a unique consensus protocol in order to host a network of high-speed blockchains, smart contracts and applications.
Avalanche's focus on smart contracts, efficient transactions and hosting decentralized applications has seen it dubbed as one of the potential 'Ethereum killers'. It offers many of the same functions as the Ethereum blockchain, but with faster transaction times.
Avalanche's price surged in September 2021 on the back of $230 million of private funding from Polychain and Three Arrows Capital.
Avalanche's Mainnet is EVM compatible, meaning that dApps on the Ethereum layer 1 network can be ported over to Avalanche without duress. They've also developed an Avalanche–Ethereum bridge that improves interoperability further, providing blockchain users and dApp developers the ability to transfer ETH and AVAX tokens between their respective networks.
AVAX is the native token of Avalanche. The AVAX token is primarily used for transactions, staking and network fees. It can also be used as the major economic token for various decentralized projects built on the protocol.
How do I find the best places to buy Avalanche?
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 Avalanche?
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 Avalanche.
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 AVAX 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 Avalanche?
Once you've created an account, you will need to deposit funds to buy AVAX 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 AVAX:
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 AVAX by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for AVAX on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Avalanche?
The easiest way to buy AVAX 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 AVAX, 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 Avalanche has been performing recently.
Best Avalanche wallets to store your AVAX
You can keep your AVAX 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 AVAX below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Avalanche a good investment?
When buying any cryptocurrency it is important to understand the risks associated with the underlying technology, as well as be aware of the volatile market conditions. In particular, buyers of AVAX will want to consider the following:
Competition. Avalanche is yet another new protocol competing in the over-saturated market of base-layer blockchains. While being labeled an 'Ethereum-killer' may seem appealing, Avalanche is just one of many that share this title. Avalanche is certainly not alone in its focus on smart contracts and decentralized applications, with Cardano (ADA) and Solana (SOL) having similar goals and greater public exposure.
Novelty. The Avalanche Mainnet was launched in September 2020, making it a relatively newer protocol. Because of this, the network is yet to have its vulnerabilities and potential weaknesses thoroughly tested.
Staking. AVAX block rewards are set to vary over time in accordance with governance decisions, which means any return on investment via staking will be dynamic. In the first year after launch, the staking reward is set at a target between 7% and 12%. Users may prefer the stable return rate from pegged tokens like Tether (USDT) or Binance USD (BUSD).
Today's Avalanche price versus ATH
Compare today's price of Avalanche ($30 USD) against its all-time-high price of $144.96 USD on 21 November 2021. The closer the bar is to 100%, the closer AVAX is to reaching its ATH again.
Avalanche's price: $30 USD ATH date: November 21, 2021
20.70%
Avalanche ATH: $144.96 USD
How to trade, convert or sell Avalanche
You can convert or sell your AVAX with the same exchange you bought it through:
Sign in to the exchange you have AVAX on.
If you store your Avalanche 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 AVAX you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Avalanche.
Complete your transaction and move your AVAX to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Avalanche, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of AVAX 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 Avalanche or any other cryptocurrency discussed.
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