How to buy DeRace (DERC) in Australia
Learn how to buy DeRace (DERC) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy DeRace
1. Compare crypto exchanges
The easiest way to buy DeRace 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 – credit card, cryptocurrency, paypal and transferwise payments are widely accepted.
4. Buy DeRace
You can now exchange your funds for DeRace. 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 DeRace to your personal wallet.
Where to buy DeRace in Australia
Find an exchange to buy, sell and trade DERC 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 DeRace
Look for an exchange that supports both fiat and cryptocurrency to simplify buying DeRace.
- Compare cryptocurrency exchanges that support DERC.
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 DeRace.
- Buy DeRace.
Complete your DeRace purchase and then find the best wallet to store DERC.
What to consider when buying DeRace
Cryptocurrencies are highly volatile and a speculative asset class. Make sure you always understand the various factors impacting the price of a cryptocurrency before investing. If you’re considering investing in DERC, here are some elements worth thinking about:
- Supply. There is a total supply of 120M DERC tokens. Of this, 6% were used in the initial IDO and 28% in an earlier, private investment round. 15% of the DERC supply is dedicated to marketing, while 25% will be held in reserve for promoting liquidity. The remaining 26% is split among the development team (10%), advisors (5%) and technological/community development (11%).
- Competition. The rise of blockchain-based games has resulted in stiff competition within the market. For starters, tactical games like Voxies and Axie Infinity, or metaverses such as The Sandbox already have large, established playerbases. DeRace has a point of difference due to its gambling mechanism, but there are plenty of similar protocols in existence, including FunToken and CoinPoker. Finally, Zed.Run is a popular horse racing, NFT-based ecosystem that is extremely similar in function and appearance to DeRace.
- Regulation. Sports betting and gambling has long been an area of concern for activists, governments and regulators. While the decentralised nature of DeRace theoretically allows for a fairer gambling experience, it also means a lack of regulations. If DeRace is, for example, viewed as influencing and cultivating underage betting, it could see swift intervention from regulators which may impact the platform’s adoption and success.
How to sell DeRace
You can cash out your DERC with the same exchange you bought it through:
- Sign in to the exchange you have DERC on.
If you store your DeRace in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of DERC you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of DeRace.
Disclaimer: Cryptocurrencies, including DeRace, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DERC 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 DeRace or any other cryptocurrency discussed.
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