How to buy Avalanche (AVAX)

A beginner's guide to buying and selling Avalanche in Australia.

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AVAX is the native token of 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. The AVAX token is primarily used for transactions, staking and network fees.

How to buy AVAX

Follow these steps to purchase your first Avax.

  1. Compare crypto exchanges
    The easiest way to buy AVAX is from a cryptocurrency exchange. Use our comparison table to find an exchange with the features you want such as low fees, ease of use or 24-hour customer support.
  2. 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.
  3. Make a deposit
    Once verified, you can deposit AUD using the payment method that best suits you – Bank transfer, debit card, wire transfer and credit cards are all widely accepted.
  4. Buy Avalanche
    You can now exchange your funds for AVAX. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking "buy". If you like you can now withdraw your AVAX to your personal wallet.
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 AVAX in Australia

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

270
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

297
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

262
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

158
cryptocurrencies

Finder Exclusive: New members get $10 bonus after first trade. T&Cs apply.
Buy 150+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

266
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

119
cryptocurrencies

Get 0% fees on credit/debit card purchases for 30 days after signup.
Buy 80+ cryptocurrencies, earn up to 8% on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
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Compare up to 4 providers

A step-by-step guide to buying Avalanche

Want to buy Avalanche? Follow these simple steps:

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

Compare exchanges that support AVAX, then determine if the exchange you choose supports buying AVAX with Australian dollars (AUD), Bitcoin (BTC) or Ethereum (ETH). You'll need to provide your email address and create a password to register for an account.

  • Note: It's also recommended that you set up two-factor authentication to provide an extra level of security.

Step 2. Deposit funds into your account

Many cryptocurrency exchanges only allow trading between cryptocurrencies and don't allow the direct deposit of fiat currency, such as AUD, so you'll usually need to own or buy BTC or ETH first.

  • Note:The exact process for depositing funds into your account varies depending on the exchange you choose.

Step 3. Buying AVAX

The final step is to trade your chosen currency for AVAX on the exchange. Once again, the exact process you need to follow may vary slightly depending on the exchange you choose.

Which wallets can I use to hold AVAX?

Unless you're looking to place a trade, storing cryptocurrency in an account on an exchange is not recommended. Instead, it's generally much safer to store your AVAX in a secure wallet.

How does Avalanche work?

The Avalanche network was designed in response to the scalability issues encountered by earlier generations of smart contract platforms, in particular Ethereum.

At the core of the Avalanche platform is its novel consensus protocol, which is also known as Avalanche. The Avalanche consensus protocol was developed in response to the scalability issues encountered by earlier generations of blockchains, such as slow transaction speeds on Bitcoin and Ethereum. Instead of using Nakamoto consensus which was introduced by Bitcoin and adopted by many blockchains that followed, Avalanche consensus is a brand new method of validating transactions, which allows for in excess of 4,500 transactions per second using a proof-of-stake model.

Sitting on top of the consensus protocol is the Avalanche network itself, which essentially supports a myriad of blockchains interoperating with one another. You can think of Avalanche as the parent network (like the Internet), with a series of subnetworks (blockchains) operating within it. This allows for a granular approach to programming, meaning that blockchains with different rules, purposes and users can all operate somewhat independently while remaining part of a greater whole.

As for users, Avalanche will look like any other blockchain network.

It will host an array of familiar features, such as decentralised applications (dApps), tokenised assets, decentralised exchanges and smart contracts – albeit with a different set of rules dictating how it all works behind the scenes. To demonstrate this, the creators of Avalanche, Ava Labs, launched Athereum. Athereum is an Avalanche-based version of Ethereum with all the features and applications of Ethereum, but instead running on the much faster Avalanche protocol.

CryptocurrencyAVAX
Circulating supply (approx. as of November 2020)24,500,000
Maximum supply720,000,000
BlockchainAvalanche
PurposeProof-of-stake and fees

How does AVAX cryptocurrency do?

AVAX is the native token of the Avalanche network, which means it is used as the primary currency for network transactions, including gas fees and payments. AVAX is also used as the basic unit of account between the different blockchains which operate on the network, despite each of these networks potentially having their own currency.

Staking is another one of the primary uses for AVAX.

Avalanche uses a proof-of-stake consensus protocol to keep the network secure, which means users will be able to lock-up their coins to become a validator. In return for faithfully verifying transactions on the network, validators will be rewarded with additional AVAX tokens. To participate in staking, users will need to deposit a minimum of 2,000 tokens, with 50% of the total supply of AVAX tokens set to be distributed through staking rewards over the lifetime of the network.

Key factors to consider when buying Avalanche

Avalanche is yet another new protocol competing in the over-saturated market of base-layer blockchains which include platforms such as Ethereum, EOS and Tezos.

As a new protocol, it is yet to have its vulnerabilities and potential weaknesses thoroughly tested.

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%.

How to sell AVAX

If you want to sell your AVAX holdings, you can do so by following a similar process to that outlined in Step 3. You'll obviously need to look for the "Sell AVAX" link, while it's also worth remembering that you may not be able to directly exchange AVAX for the currency you want to acquire.

Frequently asked questions

Can AVAX tokens be staked?

Yes, a user will need a minimum of 2000 AVAX tokens to stake and operate a validating node on the network.

How long do I need to stake AVAX for?

A validator needs to stake funds for a minimum of two weeks.

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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