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How to buy Eleven Finance (ELE) in Australia

Learn how to buy Eleven Finance (ELE) in our step-by-step guide.

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Where to buy Eleven Finance in Australia

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

You can still purchase ELE by using a decentralised exchange (DEX) instead. decentralised exchanges are web applications that run on blockchains like Binance Smart Chain (BSC) 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 ELE using a decentralised exchange.
  1. Find ELE on a decentralised exchange and make sure Eleven Finance can be traded for BNB which is the native asset of Binance. The most popular DEX on Binance Smart Chain is PancakeSwap.
  2. Buy BNB to trade for ELE using an exchange like Binance. You will need to purchase enough BNB to swap for ELE as well as BNB to pay for transaction fees (known as gas) on the BSC network, which usually costs less than a dollar.
  3. Transfer the BNB into a a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade BNB for ELE on PancakeSwap, following the instructions on screen. Make sure to leave enough BNB in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the ELE 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 Eleven Finance wallets to store your ELE

You can keep your ELE 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 Eleven Finance a good investment?

When purchasing any cryptocurrency it is important to understand the risks involved, especially with any token associated with DeFi protocols which tend to carry an extra degree of risk due to exploits, malicious developers and smart contract flaws. In particular, ELE buyers should consider the following:
  • Competition. Eleven Finance is operating in a highly competitive industry with many other DeFi protocols that perform similar functions. As such, the price of the ELE token may be influenced by Eleven Finance's market share in relation to competitors.
  • Inflationary. A total of 4,950,000 tokens (67.5% of the total supply) are set to be released over the first year of operation, which began in late 2020.
  • Anonymous developers. The team behind Eleven Finance is anonymous, which means the project is at risk of being exploited from within (ie, developers stealing funds).

Additional information about Eleven Finance can be found using our ELE analysis tools.

Today's Eleven Finance price versus ATH

Compare today's price of Eleven Finance ($0.00392436 USD) against its all-time-high price of $7.93 USD on 10 May 2021. The closer the bar is to 100%, the closer ELE is to reaching its ATH again.

Eleven Finance's price: $0.00392436 USD
ATH date: May 10, 2021
0.05%

Eleven Finance ATH: $7.93 USD


How to trade, convert or sell Eleven Finance

You can convert or sell your ELE with the same exchange you bought it through:
  1. Sign in to the exchange you have ELE on.
  2. If you store your Eleven Finance 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 ELE you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Eleven Finance.
  6. Complete your transaction and move your ELE to a wallet for storage.

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

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