How to buy Cratos (CRTS) in Australia
Learn how to buy Cratos (CRTS) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy Cratos
1. Compare crypto exchanges
The easiest way to buy Cratos is from a cryptocurrency exchange. Comparing in the table below lets you find one 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 $ using the payment method that best suits you – cryptocurrency payments are widely accepted.
4. Buy Cratos
You can now exchange your funds for Cratos. 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 Cratos to your personal wallet.
Where to buy Cratos in Australia
Find an exchange to buy, sell and trade CRTS by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Cratos
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Cratos.
- Compare cryptocurrency exchanges that support CRTS.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Cratos.
- Buy Cratos.
Complete your Cratos purchase and then find the best wallet to store CRTS.
What to consider when buying Cratos
Cryptocurrencies are highly volatile assets. It is, therefore, extremely important to evaluate both the token and the associated protocol. Here are a few important considerations to assess before investing in CRTS:
- Transfer restrictions of CRTS: While the CRTS token was built using the ERC20 standard, the Cratos app uses its own off-chain ledger to allow fast and low-cost transactions. These are transactions that would otherwise require the Ethereum blockchain. Although the CRATOS off-chain ledger allows for far quicker transaction times, users can only transfer in-app CRTS to the Ethereum ecosystem once they’ve accumulated 50,000 tokens.
- Adoption: As of January 2022, the Cratos App has garnered over 410,000 downloads and roughly 156,000 global users. Considering it was only launched in December 2020, its adoption rate appears to be high.
- Tokenomics: CRTS has a maximum supply of 1 billion tokens. 36% of all tokens were allocated to the reward pool for onboarding users. The remaining 64% were allocated to partnerships, development purposes, and marketing. To offset the selling pressure from users, the platform has established a token burn mechanism. The token burn mechanism leverages the profits earned from the platform to buy back CRTS from exchanges. These are subsequently sent to a burn wallet to remove the tokens from circulation.
- Competition: The blockchain voting space is nowhere near as competitive as other niches within the cryptocurrency industry. While there are a few projects that are focused on similar themes, such as Agora, if Cratos executes its vision correctly the protocol has a much better chance of capturing a dominant market share.
- App rewards: Users can earn CRTS rewards based on a set schedule as defined within the App. Until June 30 2022, in-app CRTS rewards will be as follows: 1,000 CRTS tokens will be awarded for first-time registration, 5 CRTS tokens will be awarded for vote participation, 50 will be awarded for vote generation, and 10 will be awarded for any commentaries. After June 30 2022, the reward rates are set to halve.
How to sell Cratos
You can cash out your CRTS with the same exchange you bought it through:
- Sign in to the exchange you have CRTS on.
If you store your Cratos in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of CRTS you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Cratos.
Disclaimer: Cryptocurrencies, including Cratos, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of CRTS 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 Cratos or any other cryptocurrency discussed.
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