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How to buy Coinmetro (XCM) in Australia

Learn how to buy Coinmetro (XCM) in our step-by-step guide.

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Where to buy Coinmetro in Australia

It looks like XCM may not be available to purchase on an exchange in Australia.

You can still purchase XCM 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 XCM using a decentralised exchange.
  1. Find XCM on a decentralised exchange and make sure Coinmetro can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for XCM using an exchange like Binance. You will need to purchase enough ETH to swap for XCM 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.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for XCM on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the XCM tokens will arrive in your wallet.
  6. 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.

Best Coinmetro wallets to store your XCM

You can keep your XCM on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is Coinmetro a good investment?

Prior to making any investment decision, it’s always a good idea to perform due diligence. Here are a few things to consider before buying XCM:
  • Competition. While CoinMetro’s goal to be perfect for beginners and professionals is appealing, they are not the first exchange to claim this. They are in direct competition with a lot of other platforms, and, according to the coin aggregator CoinMarketCap, currently rank outside the top 100 exchanges based on 24h volume.
  • Active use case. Although the CoinMetro exchange is geared towards beginners, the purchase of the XCM token may not be ideal as a "set and forget" cryptocurrency investment. The token is best used actively, whether for diminishing fees, margin trading, or earning interest via staking.
  • Centralisation. One of cryptocurrency’s key goals is financial decentralisation, yet many of the popular exchanges are centralised. CoinMetro is no exception. The XCM token has no bearing on governance and the development of the platform. Investors are unable to influence the direction of CoinMetro, which is common in the decentralised finance space.

Additional information about Coinmetro can be found using our XCM analysis tools.

Today's Coinmetro price versus ATH

Compare today's price of Coinmetro ($0.633419 USD) against its all-time-high price of $2019-05-04T00:00:00.000Z USD on 01 January 1970. The closer the bar is to 100%, the closer XCM is to reaching its ATH again.

Coinmetro's price: $0.633419 USD
ATH date: May 04, 2019
68.58%

Coinmetro ATH: $0.923577 USD


How to trade, convert or sell Coinmetro

You can convert or sell your XCM with the same exchange you bought it through:
  1. Sign in to the exchange you have XCM on.
  2. If you store your Coinmetro in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of XCM you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Coinmetro.
  6. Complete your transaction and move your XCM to a wallet for storage.

Disclaimer: Cryptocurrencies, including Coinmetro, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XCM 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 Coinmetro or any other cryptocurrency discussed.

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