How to buy CoinEx Token (CET) in Australia
Learn how to buy CoinEx Token (CET) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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Where to buy CoinEx Token in Australia
Unfortunately, at this time no major exchanges in Australia offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
It looks like CET may not be available to purchase on an exchange in Australia.
You can still purchase CET by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.
Decentralised exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.
How to purchase CET using a decentralised exchange.
- Find CET on a decentralised exchange and make sure CoinEx Token can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for CET using an exchange like . You will need to purchase enough ETH to swap for CET as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for CET on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalise and the CET tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in Australia.
What to consider when buying CoinEx Token
Altcoins can be extremely risky investments. As a result, all aspects of both the cryptocurrency and associated protocol should be thoroughly evaluated. Here are a few factors to consider before investing in CET.
- Utility and governance token: CET is the native token of the CoinEx cryptocurrency exchange and CoinEx Smart Chain. It was created on the Ethereum network and migrated to the CoinEx Smart Chain when the mainnet went live. The token will be used as a block reward for validators, as payment for the gas fees of transfers and contract calls, and as payment for the transaction fees incurred by smart contract deployment. This means that the value of CET is intricately tied to the development success of the CoinEx Smart Chain.
- Daily repurchase and burn mechanism: CoinEx implements a daily repurchase of CET tokens which are then burnt and removed from circulation. 50% of all transaction fee income is used in the purchase. This mechanism introduces a deflationary characteristic to the coin, which could place upwards pressure on price over time. This mechanism is in place until the supply of CET reaches 3 billion.
- Competition: As an exchange-based cryptocurrency, CET is situated within a competitive market that includes platforms such as Binance, Crypto.com, KuCoin, and FTX. All of these platforms offer a native cryptocurrency token that offers similar privileges and perks to CET. CoinEx will need to continuously innovate to steal market share away from larger competitors.
How to sell CoinEx Token
You can cash out your CET with the same exchange you bought it through:
- Sign in to the exchange you have CET on.
If you store your CoinEx Token in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of CET you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of CoinEx Token.
Disclaimer: Cryptocurrencies, including CoinEx Token, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of CET 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 CoinEx Token or any other cryptocurrency discussed.
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