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How to buy, sell and trade Ethereum Classic (ETC)

A beginner’s guide to buying and selling Ethereum Classic in Australia.

Do you want to add Ethereum Classic (ETC) to your crypto portfolio?

Ethereum Classic is listed on a wide range of exchanges, so keep reading for step-by-step instructions on how to buy ETC with Australian dollars (AUD) or another cryptocurrency.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

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Quick guide: How to buy Ethereum Classic in Australia

  1. Register for an account with an exchange like CoinSpot.
  2. Enable 2-factor authentication.
  3. Verify your account.
  4. Click “Deposit AUD”.
  5. Transfer funds into your account.
  6. Click “Buy/Sell” at the top of the screen.
  7. Search for Ethereum Classic and click on “Buy ETC”.
  8. Enter the amount of ETC you want to buy or the amount of AUD you want to spend.
  9. Review the transaction details.
  10. Click “Buy ETC”.
Go to CoinSpot's website

This is our quick guide to just one way to buy ETC. Compare some other options in the table below.

Where to buy Ethereum Classic in Australia

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
BPAY
Cash
Cryptocurrency
POLi
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG, SKY, NAS, LINK, GO & over 100+ more
CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Credit card
Debit card
Neteller
PayPal
Yandex Money
USD
BTC, BCH, DASH, ETC, ETH, LTC, XRP, MIOTA, XLM, ADA, NEO, EOS, LCC, BNB, ZCASH
Disclaimer: Highly volatile investment product. Your capital is at risk. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.
Cryptocurrency
Bank transfer (SEPA)
SWIFT
Wire transfer
Faster Payments Service
GBP, EUR, USD, CAD, SGD, AUD, JPY, MXN
BTC, ETH, BCH, XRP, LTC, EOS, XLM, USDT, ADA, XMR, TRX and 50+ more
BC Bitcoin is a UK-based cryptocurrency brokerage that buys and sells more than 100 different cryptocurrencies.
Bank transfer
POLi
AUD
ARK, BAT, BTC, ADA, DASH, ENJ, EOS, ETH, ETC, GVT, GNT, ICX, and 10+ more
Accepting POLi and bank transfers in AUD, Easy Crypto is a simple way to buy and sell a range of cryptocurrencies.
Credit card
Debit card
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC, BCH, ETH, LTC, ETC, ZRX, BAT
Get US$10 in free bitcoin when you buy US$100 or more of any crypto. T&Cs apply.
Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Cointree Cryptocurrency Exchange
Cash
Cryptocurrency
Electronic Funds Transfer
POLi
PayID
AUD
BTC, ETH, BCH, EOS, ZRX, AE, AION, REP, DGD, ICX, IOST, OMG, PPT, SNT, TRX, VET, ZIL, &21 more
Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
Cryptocurrency
Wire transfer
USD, EUR, GBP, JPY
BTC, BCH, BTG, IQ, TRX, GNT, AVT, DASH, DATA, EDO, EOS, ETC, ETH, LTC, MIOTA, NEO, OMG, QTUM, SAN, USDT, XMR, XRP, BAT, ZRX, FUN, MANA, SPANK, TNB, RLC, RCN, REP, ELF, AID, SNGLS, SNT, QASH, YOYO, MITH, ETP, XTZ, CNN, BOX, GOT, TKN, UTN
Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Cash
Credit card
Debit card
Bank transfer (SEPA)
USD, EUR
BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP
Buy coins like Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with credit card.
Credit card
Cryptocurrency
USD
BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL, GAS, LTC, ZRX, QTUM, ETH, ETC, VET, ICX & 300+ more
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.

Compare up to 4 providers

A step-by-step guide to buying Ethereum Classic

If you want to buy Ethereum Classic, there are two options to choose from:

  • Buying Ethereum Classic with fiat currency, such as AUD
  • Buying Ethereum Classic with another cryptocurrency, such as bitcoin (BTC) or Ethereum (ETH)

If you’re new to cryptocurrency, the quickest and easiest approach is to buy Ethereum Classic with Australian dollars. However, we’ve also included step-by-step instructions on exchanging another digital currency for Ethereum Classic if that’s your preferred option.

Buying Ethereum Classic with AUD

If you want to buy Ethereum Classic with Australian dollars, here’s an example of how you can do so via CoinSpot:

Buying Ethereum Classic with another cryptocurrency

You can also acquire Ethereum Classic using another cryptocurrency. Here’s an example of how you can buy Ethereum Classic on Binance:

How to sell Ethereum Classic

If you want to sell your Ethereum Classic tokens, the process you’ll need to follow is quite similar to the one described in step 4 above. However, rather than entering your transaction details in the “Buy” tab, you’ll obviously need to look for the “Sell” tab on your exchange’s trading interface.

It’s also worth pointing out that ETC is only listed in a limited range of trading pairs, so it may not be possible to immediately exchange your tokens for the currency you want to acquire.

Which wallets can I use to hold Ethereum Classic?

While you can store your ETC on an exchange if you wish, this is not usually recommended. Not only are exchanges regularly targeted by hackers and thieves, but you don’t have control over the private keys for your exchange wallet. As a result, moving your tokens into a private wallet is generally believed to be a much safer option.

The good news is that there’s plenty of choice when choosing a wallet to store Ethereum Classic. Options you may like to consider include:

Check out our complete guide to some of the best Ethereum Classic wallets.

Ethereum vs Ethereum Classic

Ethereum is an open-source, decentralised platform designed to build and run highly complex smart contracts. Smart contracts are decentralised applications (dapps) that are made to run exactly as programmed without downtime or third-party interference, and Ethereum’s popularity has seen it become one of the world’s largest digital currencies.

But how is it related to Ethereum Classic? In June 2016, the decentralised autonomous organisation (DAO), a venture capital fund running on the Ethereum platform, was hacked and more than US$50 million was stolen. However, the Ethereum community was split on how to respond to the attack. They could either:

  • Modify Ethereum’s code to revert the hack, which would return all the stolen ETH to its owners but fly in the face of one of the core principles of cryptocurrency: the immutability of the blockchain; or
  • Do nothing and stick to the principle that “code is law” and that transactions are final

The majority of the community favoured the former option, so Ethereum underwent a hard fork to revert the hack. However, a smaller section of the community decided to keep the main code exactly as it was, with this currency soon coming to be known as Ethereum Classic.

How Ethereum Classic works

Ethereum Classic is the original Ethereum blockchain. It’s an open-source, peer-to-peer platform where developers can implement dapps and smart contracts.

Ethereum Classic’s native token (ETC) is used to fuel transactions on the network, which itself is underpinned by a couple of key principles:

  • Immutability. ETC accounts cannot be modified by others and all transactions are final.
  • Decentralised governance. The Ethereum Classic community is structured in such a way as to avoid centralised leadership, with the responsibility for development and discussion distributed among a range of parties.

Find out more about how Ethereum Classic works in our in-depth guide.

What to consider before you buy Ethereum Classic

Not only are cryptocurrencies highly volatile, they’re also a lot more complicated than many people realise. There are multiple factors that can influence whether the price of a particular currency rises or falls, so it’s important that you research and understand those factors (as well as the risks involved in purchasing crypto) before you buy.

If you’re thinking of buying Ethereum Classic, consider the following factors:

  • Supply. According to CoinMarketCap, at the time of writing (September 2018) the circulating supply of Ethereum Classic was 104,306,881 ETC.
  • Inflationary. A proof-of-work currency, Ethereum Classic offers block rewards to miners. These block rewards will ensure that ETC is inflationary until the year 2025, when the maximum supply of coins will be capped at around 210 million (and no greater than 230 million).
  • ETC use. ETC is the primary token of the Ethereum Classic platform and it is used to pay for computation on the network.
  • Availability. ETC is widely available on several cryptocurrency exchanges and can be purchased with crypto or fiat currencies. This ease of access for new and experienced traders could help drive demand for Ethereum Classic.
  • Future plans. In 2018, Ethereum Classic developers are working on the Emerald software development kit for the creation of dapps on the platform, as well as working towards introducing sidechains for increased scalability. Looking ahead to 2019, key milestones on the Ethereum Classic roadmap include:
    • Scalability improvement and sharding (towards 1,000+ tx/sec)
    • Light client for IoT (internet of things) and Mobile
    • Interoperability with other blockchains
  • Competition. Ethereum Classic is operating in a highly competitive space, and will need to do battle with the likes of NEO, Qtum, Lisk and of course Ethereum, the world’s second-largest cryptocurrency.
  • Backing. Ethereum Classic is backed by a strong community and committed developers. While it faces an uphill battle to try and catch up to its better-known sibling, the team behind ETC appears to be prepared to settle in for the long haul.

Compare ways to buy/sell Ethereum Classic

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FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

Image: Shutterstock

Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.

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