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How to buy, sell and trade Aeternity (AE)

Read our beginner’s guide to buying Aeternity tokens and where to store them.

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Ethereum may currently be the biggest smart contracts platform in the world of crypto, but there are plenty of other projects keen to challenge for the title. Aeternity is one of those challengers.

Launched in 2017, Aeternity aims to improve the scalability of smart contracts and decentralised applications (dapps) by moving contracts off-chain. It also relies on an oracle to provide the real-world data needed for those smart contracts and offers a native currency, Aeon (AE), which is required to access the network and run dapps.

If you’re thinking of buying any AE tokens, read on for detailed instructions on what you need to do.

Learn more Buy AE

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.

Quick guide: How to buy AE

  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 AE. Compare some other options in the table below.

Where to buy and sell Aeternity in Australia

You can buy and sell AE on the following crypto exchanges:

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

155
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

105
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Cryptocurrency
USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 23+ more

182
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.
Cash
Cryptocurrency
Electronic Funds Transfer
POLi
PayID
AUD

108
cryptocurrencies

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

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card
Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
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.
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

110
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
OKEx Cryptocurrency Exchange
Bank transfer
Cryptocurrency
WeChat
USD, CNY

146
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
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Compare up to 4 providers

A step-by-step guide to buying Aeternity

So you’ve decided you want to buy Aeternity? Here’s what you need to do:

How to sell Aeternity

To sell your Aeon holdings, the process you need to follow is similar to that outlined in step 3. Of course, you’ll need to make sure that you enter your transaction details in the “Sell” tab rather than the “Buy” section.

It’s also worth mentioning that unlike major currencies like bitcoin, which can be traded to an extensive range of coins and tokens, AE can only be exchanged for a limited number of currencies.

Which wallets can I use to hold Aeternity?

Rather than keeping your tokens on an exchange, which exposes you to a number of security risks, it’s recommended that you move your funds into a cryptocurrency wallet that lets you retain control of your private keys.

Aeternity is supported by a range of wallets, including Atomic Wallet.

How Aeternity works

Since the launch of Ethereum in 2015, there’s been no shortage of speculation and excitement about the potential uses for smart contract technology. However, the world’s leading smart contracts platform and second-largest cryptocurrency isn’t without its shortcomings – from a lack of scalability to working out an efficient way to integrate real-world information onto the blockchain – and it’s these problems that Aeternity aims to solve.

To improve scalability, Aeternity moves smart contracts off-chain, running them in private state channels. This minimises the amount of on-chain data and frees up network resources.

Next, it includes a decentralised oracle, the Aeternity Oracle Machine, to integrate the real-world data needed to execute smart contracts. For example, if the execution of a contract relies on the price of a specific share reaching a predetermined figure, an oracle can provide accurate, tamper-proof data about the share’s performance.

To achieve consensus, Aeternity uses a hybrid proof-of-work and proof-of-stake mechanism. Proof-of-work is used by miners to verify blocks, while proof-of-stake is used to allow AE token holders to vote on proposals and changes to the Aeternity network.

Based in Liechtenstein, the Aeternity team raised around US$5.2 million in an April 2017 pre-sale and US$24 million in a June 2017 token sale.

What to consider when buying Aeternity

Cryptocurrencies are complicated and speculative assets which are known for their volatility. There’s a high level of risk associated with buying any coin or token, so it’s essential that you understand and assess all the factors that could potentially influence a coin’s value.

If you’re thinking of buying any Aeon, consider the following factors first:

  • Supply. According to CoinMarketCap, at time of writing (June 2020), the circulating supply of Aeternity was 312,450,665 AE, out of a total supply of 358,271,608 AE.
  • Use. AE functions in much the same way as ETH. It is needed to use the Aeternity blockchain and to pay all system fees, and all Aeternity smart contracts settle in Aeon.
  • White paper. For a detailed explanation of the tech behind Aeternity and the problems it’s designed to solve, check out the project’s white paper.
  • Competitors. The battle to be the number-one platform for smart contracts and dapps is a fierce one. Not only will Aeternity be in direct competition with Ethereum, but it will also be in competition with a host of other strong contenders such as EOS, NEO and Cardano.

There are several other factors worth considering, so do your own research before deciding whether to buy any AE.

Buy AE


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.

Image source: Shutterstock

Disclosure: At the time of writing the author holds ADA, IOTA and XLM.

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