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How to buy, sell and trade ELF

A beginner’s guide to aelf and how to buy the ELF cryptocurrency.

Updated

Fact checked

Aelf is a decentralised cloud computing blockchain network. A self-evolving network, aelf is a blockchain system designed to function as an operating system similar to Linux, providing increased efficiency and the potential for customisation.

ELF tokens are used to pay resource fees and perform other important tasks within the aelf system. For a detailed look at how these tokens work and how you can buy ELF in Australia, keep reading.

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

Where can I buy ELF?

You can buy and sell ELF on a number of popular cryptocurrency exchanges, including:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
BPAY,Cash,POLi,PayID
AUD

169
cryptocurrencies

CoinSpot is an Australian-based exchange that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Bank transfer,POLi,Osko,PayID
AUD

177
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Bank transfer (ACH),PayPal,Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

64
cryptocurrencies

Get credit card crypto purchase fees waived when signing up for Crypto.com. T&Cs apply.
Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Credit card,Cryptocurrency,Debit card,Bank transfer (via third party)
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 23+ more

201
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Cryptocurrency
USD, EUR, GBP, JPY

164
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Cash,Cryptocurrency,Electronic Funds Transfer,POLi,PayID
AUD

106
cryptocurrencies

Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
AdvCash,Cryptocurrency,Payeer,Perfect Money,Capitalist
USD, RUB

1427
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Cryptocurrency
EUR, GBP

111
cryptocurrencies

Trade crypto to crypto with a choice of over 100 currencies on this global exchange based in China.
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

234
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Cryptocurrency,Wire transfer
KRW

103
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
IDEX Cryptocurrency Exchange
IDEX Cryptocurrency Exchange
Cryptocurrency
-

257
cryptocurrencies

A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
Bittrex Digital Currency Exchange
Cryptocurrency,Wire transfer
USD

278
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
AdvCash,Cryptocurrency,Payeer,Perfect Money
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
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Compare up to 4 providers

Quick guide: How to buy ELF

  1. Register for an account with a cryptocurrency exchange like Swyftx.
  2. Verify your account.
  3. Go to the deposits section
  4. Select your preferred payment method and confirm.
  5. Go to the buy section and select the cryptocurrency you want to buy.
  6. Enter how much you want to buy, or how much you want to spend.
  7. Double check the details and confirm your purchase.
Go to Swyftx's site

This is our quick guide to just one way to buy ELF. Compare some other options in the table below.

How to buy ELF: Step-by-step instructions

So you want to buy ELF tokens? Here’s what you need to do:

Step 1. Create an account on a cryptocurrency exchange that allows you to trade ELF

ELF isn’t available on every possible crypto exchange, so you’ll need to register for a trading account with an exchange that provides it in your desired currency pairing. You’ll have to supply an email address and password to sign up for an account, while some exchanges may also require your full name, contact details and proof of ID in order to comply with Know Your Customer (KYC) laws.

It’s also recommended that you enable two-factor authentication on your account before depositing any funds, as this provides an added layer of security.

Step 2. Deposit funds into your account

It’s currently not possible to exchange Australian dollars (AUD) for ELF directly. This means you’ll have to own or buy a currency that’s available in a pairing with ELF, such as bitcoin (BTC) or Ethereum (ETH), before you can acquire any ELF.

To make a deposit, login to your account and click on the “Deposit” link to generate a wallet address. You can then transfer the desired amount of coins into your trading account.

Step 3. Buy ELF

You can now exchange your BTC or ETH for ELF. The order process differs slightly between exchanges, but you’ll generally need to search for your chosen pairing (such as ETH/ELF) and then click on “Buy ELF”.

It’s then a matter of entering the amount of ELF you want to buy, reviewing the total cost of your transaction and finalising the purchase.

How to sell ELF

If you want to sell your ELF tokens, the process for completing a sale is quite similar to the “how to buy” steps outlined above. However, just remember that cryptocurrency exchanges don’t offer every possible currency pairing, so directly exchanging ELF for your desired currency may not be possible.

ELF wallets

For security purposes, it’s recommended that you store any cryptocurrencies you hold in a wallet rather than on an exchange. ELF is an ERC20 token on the Ethereum blockchain, so there are plenty of Ethereum-compatible wallets you may consider using, such as:

How aelf works

Originally known as Grid, aelf is a multi-chain parallel computing blockchain framework. Its creators envision it as a "Linux ecosystem" for blockchain, and aelf is designed to act as a versatile operating system to meet commercial needs. In other words, it’s hoped that aelf will provide the infrastructure for a new generation of digital businesses.

As outlined in the aelf whitepaper, the network does this through the use of five main features:

  • A Main Chain and multi-layer Side Chains to handle various commercial scenarios. Each chain is designed for one use case.
  • Communicating with external blockchain systems, such as bitcoin and Ethereum, via messaging.
  • Permitting parallel processing for non-competing transactions and cloud-based service.
  • Reducing data complexity and providing the potential for a high level of customisation.
  • Permitting stakeholders to approve amendments to the protocol, including redefining the Consensus Protocol.

Based in Singapore, aelf launched in December 2017. Rather than holding a public ICO, it raised 55,000 ETH in a private token sale to investors such as Alphabit, Block Tower, 1kx capital, FBG Capital and more.

Things to consider when buying ELF

You should never invest in anything you don’t fully understand, so it’s essential to be aware of all the risks associated with cryptocurrency trading before you make any purchases. Crypto coins are complex, speculative and risky, so make sure you thoroughly research any coin or token before buying.

If you’re thinking of buying ELF, below are some of the factors you should consider:

  • Supply. At the time of writing (25/01/18), the circulating supply of ELF was 260,000,000. The total supply of tokens is 1,000,000,000.
  • Use. ELF tokens are used to pay resource fees in the network, such as the deployment of smart contracts, transaction fees and cross-chain data transfer fees. ELF holders can also vote on major decisions, such as electing mining nodes and introducing new features to the system.
  • Switch from ERC20. ELF is currently an ERC20 token but, with the release of the aelf Main Chain (scheduled for May 2018), those ERC20 tokens will be converted to aelf’s own currency.
  • Roadmap. You can find a timeline for upcoming developments, upgrades and releases in this aelf presentation, as well as more details about how the aelf system works.
  • Potential. The large-scale commercial adoption of blockchain technology is yet to occur, but there certainly appears to be plenty of opportunities for the blockchain project that can make this a reality. However, you’ll need to thoroughly examine the aelf network, as well as the challenges it may face from competitors, to determine whether ELF tokens are worth buying.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

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