How to buy Efforce (WOZX) in Australia
Learn how to buy Efforce (WOZX) in our step-by-step guide.
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You can buy Efforce (WOZX) on a cryptocurrency exchange like Gate.io. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Efforce is a blockchain-based platform dedicated to saving energy. Here's how to buy Efforce.
How to buy Efforce in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Efforce 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.
- 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.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – cryptocurrency payments are widely accepted.
- Buy Efforce You can now exchange your funds for Efforce. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Efforce to your personal wallet.
Where to buy Efforce in Australia
Find an exchange to buy, sell and trade WOZX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Efforce?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Efforce?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Efforce.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing WOZX with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Efforce with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy WOZX with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy WOZX on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase WOZX by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for WOZX on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Efforce?
The easiest way to buy WOZX is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying WOZX, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Efforce has been performing recently.
Best Efforce wallets to store your WOZX
You can keep your WOZX 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.
Is Efforce a good investment?Cryptocurrencies are highly volatile assets. Before purchasing any cryptocurrency both the potential upside and downside should be evaluated. Here are a few aspects to consider before purchasing WOZX:
- Supply and tokenomics. The total supply of WOZX tokens is capped at 1 billion. According to the Efforce website, no new tokens will ever be minted. Of the 1 billion tokens, 450 million (45%) will be sold in a private placement. The whitepaper indicates that there is no set lock-up period for these tokens. Efforce Ltd received a further 20% allocation. A further 20% has been kept as an incentive for miners and 15% has been kept in reserve for the ecosystem.
- Mining. Up to 200 million tokens are reserved for encouraging contributors, consumers and savers to participate in the energy-saving projects listed on the platform.
- Centralised. At the time of writing, over 83% of all circulating WOZX tokens are kept within 3 wallets. This means the distribution of tokens is still highly centralised, with control sitting within a few hands.
- Dual token model. Efforce uses a dual token model which combines the WOZX tokens with a native stablecoin. The stablecoin is intended to be used as operating capital, while the WOZX token is intended to provide platform rights and incentives.
Additional information about Efforce can be found using our WOZX analysis tools.
Today's Efforce price versus ATH
Compare today's price of Efforce ($0.075264 USD) against its all-time-high price of $3.66 USD on 09 December 2020. The closer the bar is to 100%, the closer WOZX is to reaching its ATH again.
ATH date: December 09, 2020
Efforce ATH: $3.66 USD
How to trade, convert or sell EfforceYou can convert or sell your WOZX with the same exchange you bought it through:
- Sign in to the exchange you have WOZX on.
- If you store your Efforce in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of WOZX you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Efforce.
- Complete your transaction and move your WOZX to a wallet for storage.
Disclaimer: Cryptocurrencies, including Efforce, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of WOZX 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 Efforce or any other cryptocurrency discussed.
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