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Where to buy ARK in Australia

Will ARK be the next global currency?

Updated

Fact checked

Some cryptocurrencies aim to become valuable through rarity and limited supply. ARK aims to become valuable by being extraordinarily useful and widely available.

It’s a complete system rather than just a token. It has a lot of defining features, but the main one is probably its bridging chains. These let the ARK system connect with existing blockchains such as Ethereum and endless others that have yet to be created.

These bridging chains let ARK adapt to include new features over time and bring the most useful elements of other blockchains into its own ecosystem.

It’s also characterised by a very speedy eight-second block time, making for noticeably more responsive transactions than other blockchains can offer.

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 to buy ARK

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
BPAY
POLi
Osko
PayID
AUD

105
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Crypto.com App
Bank transfer (ACH)
PayPal
Bank transfer (SEPA)
SWIFT
Xfers
Credit or Debit Card
TransferWise

AUD, EUR, SGD, HKD, GBP, JPY

64
cryptocurrencies

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.
Bank transfer
POLi
AUD

44
cryptocurrencies

Accepting POLi and bank transfers in AUD, Easy Crypto is a simple way to buy and sell a range of cryptocurrencies.
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

133
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
Bank transfer
Cash
Cryptocurrency
PayPal
Western Union
JPY, CNY, USD, KRW, RUB, DKK

219
cryptocurrencies

A global crypto exchange with OTC services based in Hong Kong that supports over 100+ 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.
Bitit Cryptocurrency Marketplace
Cash
Credit card
Debit card
Neosurf
Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
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.
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Compare up to 4 providers

Quick guide: How to buy ARK

  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 ARK. Compare some other options in the table below.

You can also get ARK on Bittrex, Bit-Z, COSS, UPbit, LiteBit, CoinSwitch and Cryptomate

What are the unique features of ARK and how does it work?

There are a lot of unique features. The most important thing to remember is probably that ARK isn’t just a token. It’s an entire system designed to function as the last cryptocurrency the world needs by utilising the following:

  • ARK SmartBridge. ARK is built to integrate features from other blockchains and to work across multiple chains. The most immediate application is to bring in essential features like smart contracts, but as blockchains proliferate and become a standard business solution, users may decide to use ARK to integrate multiple, application-specific business chains into a single framework.
  • Offchain solutions. ARK aims to release its own credit and debit cards, letting people use major-brand credit and debit cards backed by ARK.

ARK fees, inflation and earnings

A range of usage fees apply, which may be subject to change based on the value of the coin.

  • Transaction fee: 0.1Ѧ
  • Voting fee: 1Ѧ (51 votes per transaction)
  • Multi Signature: 1Ѧ per signature + 1Ѧ per signing account
  • Registering a delegate: 25Ѧ.

All fees are paid to the forging node which processes the block containing those fees.

For this to make sense. it’s worth knowing how ARK “forging” and “delegates” work.

ARK forging and delegates

Forging on ARK is equivalent to mining on other blockchains. ARK uses a delegated proof-of-stake (DPoS) mining algorithm to reward stakeholders semi-randomly for their contributions to the network.

These contributors are known as forgers or delegates. There are up to 51 at a time, and they’re democratically elected by other stakeholders. Their job is to maintain and run the network. In return, they get any of the set fees that they happen to process as well as a flat 2Ѧ per block reward.

There’s no set ARK coin supply limit or built-in deflation the way there is with other systems. Instead, having a set eight-second block time and a flat 2Ѧ mining reward results in reducing inflation year-on-year.

In the first year, ARK inflation was 6.31%, while in the second year, it was 5.93%. In the tenth year, it’s set to be 4.02%.

During December, 2017, the 51 delegates were forging a total of 10,800 blocks per day, earning a total of 422Ѧ. At US$5 per Ѧ, each delegate was earning over US$2,000 per day by being a forger, even before counting any transaction and other fees they earn in the process.

How voting works

Users can put an upvote next to their delegate of choice, at the cost of 1Ѧ. To change it, they can pay a further 1Ѧ.

Whichever 51 proposals have the highest number of votes at a time are eligible to force ARK blocks and collect the rewards.

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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