How to buy Depo (DEPO) in Australia

Where to buy Depo 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.

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

You can still purchase DEPO 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.

How to purchase DEPO using a decentralised exchange.

1. Find DEPO on a decentralised exchange and make sure Depo 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 DEPO using an exchange like . You will need to purchase enough ETH to swap for DEPO 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 DEPO 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 DEPO 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.

What to consider when buying Depo

As with any investment, it is vital you understand the risks and potential upside of the asset before making any financial decision. With regards to DEPO, here are a few things to consider:

• Innovative solution: There are several hundred decentralised finance applications that now exist within the cryptocurrency industry. As a result, it can often be off-putting for new investors that are interested in the DeFi sector. Any application that helps to aggregate DeFi utility could become an attractive option to both those already using DeFi applications and those that are new to the sector.
• Reliance on the success of DeFi: While providing an innovative solution to the chaotic nature of DeFi, DePocket’s success relies solely on the success of the DeFi sector. Although it is unlikely the entire DeFi sector will fail, if there is any downturn in the DeFi market, the requirement for an application such as DePocket and, therefore, the demand for the DEPO token will lessen.
• Token supply and distribution:The total supply of DEPO tokens is fixed at 21 million. Of that 21 million, 21% were allocated to staking rewards, 20% were allocated to initial private and seed sales, 16% were allocated to the team and advisors, 10% were sectioned for liquidity, 25% were allocated to operations and marketing, and 8% were allocated to an initial DEX offering.
• Deflationary mechanism:According to DePocket’s documentation, a deflationary mechanism has been integrated into the application to improve the long term price outlook of DEPO. 20% of all DePocket transaction fees are used to buy DEPO tokens back from the market. These tokens are then sent to a burn wallet to be removed from circulation.

How to sell Depo

You can cash out your DEPO with the same exchange you bought it through:

1. Sign in to the exchange you have DEPO on.
   If you store your Depo in a digital wallet, compare crypto exchanges to sell it on.
2. Place a sell order.
   Choose the amount of DEPO you'd like to sell.
3. Complete your transaction.
   Confirm the sell price and fees and close your sale of Depo.

Sources

1. Data by CoinGecko

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