ethos

How to buy Ethos

Your guide to buying and selling the Ethos cryptocurrency (ETHOS) in Australia.

Ethos is a cryptocurrency platform that aims to make the cryptocurrency market more easily accessible to the wider community. It is designed to provide an ecosystem that features all the tools needed to manage wallets and keys for safe, verified blockchain transactions.

The Ethos Token (ETHOS) is the native token of the Ethos platform and will be used to access a wide range of features and fees. For more information on how this token works and how to buy ETHOS in Australia, keep reading.

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.

Where to buy and sell ETHOS

ETHOS currency pairings are listed on a variety of cryptocurrency exchanges, including:

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.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.
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.
Bithumb Cryptocurrency Exchange
Cryptocurrency
Wire transfer
KRW
BTC, BTG, BCH, DASH, ETC, LTC, EOS, XRP, ETH, QTUM, TRX, ICX, VET, XMR, ZEC, MITH, WAVES, WTC, ITC, LINK
A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Livecoin Cryptocurrency Exchange
Cryptocurrency
Payeer
Perfect Money
Qiwi
USD, EUR, RUB
BTC, BCH, ETH, LSK, LTC, XMR, XEM, DASH, BCC, CLOAK, EMC, NEO, TIME, SHIFT, STRAT, DOGE, DTR, DGB, VOX, ESC, MONA & 140+ more
Trade at an exchange that has an extensive offering over 160 coins and numerous fiat and altcoin currency pairs.
IDEX Cryptocurrency Exchange
IDEX Cryptocurrency Exchange
Cryptocurrency
-
EOS, RFR, CS, AUC, BEE, BANCA, CNN, EOSDAC, FSN, NBAI, TRAC, VET, XBP & 60+ more
Altcoin.io Decentralised Exchange
Cryptocurrency
-
*Note that while the platform is under development, it is expected to support BTC, ETH, REP, ANT, BAT, EOS, SALT, CVC, DNT, SNT & 20+ more
Launching in 2018, Altcoin.io is a decentralised peer-to-peer cryptocurrency exchange powered by atomic swaps. Sign up now for early access.
Bit-Z Cryptocurrency Exchange
Bit-Z Cryptocurrency Exchange
Alipay
Bank transfer
Cash
Neteller
PayPal
WeChat
Western Union
None
TRX, ETH, BCH, LTC, EOS, EKT, QTUM, ETC, LSK, DASH, NULS, NKC, ZEC, MCO, PUT, OC, HSR, XAS, BTX, VIU, REBL, FCT, GXS, ETP, HWC, VOISE, PPC, ARK, SPHTX, OTN, ARN, OXY, BTC and 15+ more
Cobinhood Cryprocurrency Exchange
Cobinhood Cryprocurrency Exchange
Cryptocurrency
-
BTC, ETH, USDT

Compare up to 4 providers

A step-by-step guide to buying ETHOS

If you want to buy ETHOS in Australia, here’s an example of how you can do it:

Be aware that ETHOS is listed as BQX on some exchanges. This is due to the fact that Ethos was previously known as Bitquence.

Step 1. Create an account at CoinSpot

If you want to exchange Australian dollars (AUD) for ETHOS, you’ll need to register with a local cryptocurrency exchange like CoinSpot. You can sign up for an account by providing your email address and creating a password, but you’ll need to supply your full name, contact details and proof of ID before you can start trading. Setting up two-factor authentication on your account is also recommended for increased security.

Please note that most exchanges don’t allow you to exchange fiat currency for cryptocurrency directly, so you’ll often need to acquire a cryptocurrency that’s available in a pairing with ETHOS, such as bitcoin (BTC) or Ethereum (ETH).

Step 2. Deposit funds into your account

From the account Dashboard screen, click on the “Deposit AUD” button to make an online payment. Specify the amount of AUD you want to transfer and then finalise the transaction.

Step 3. Buy ETHOS

Once the funds have been deposited, click on the “Buy/Sell” link at the top of the page and search for “ETHOS”. Click on the “Buy ETHOS” link and, after reviewing the current price of ETHOS, you can specify how much ETHOS you want to buy or how much AUD you want to spend.

Click “Buy” and you’ll be shown the full details of the transaction, including the amount of ETHOS you’re about to purchase and the total cost. Click “Confirm Buy” if you’re happy to finalise the purchase.

Which wallets can I use to hold ETHOS?

For added security, it’s recommended that you transfer your cryptocurrency to a wallet rather than storing it in your exchange account. ETHOS is an ERC20 token on the Ethereum network, so it can be stored on any Ethereum-friendly wallet that supports these types of tokens. Examples of wallets you could use include:

How the Ethos platform works

The world of cryptocurrency is daunting and confusing for novices. Not only is there a huge range of coins available, many of which are hard to access, but newcomers also have to learn to deal with cryptocurrency exchanges, choosing wallets to store their funds and keeping track of many private keys.

The Ethos platform is designed to make the cryptocurrency market accessible and trustworthy to the average user. To work towards this goal, the platform offers a range of products and services, including:

  • The Ethos Universal Wallet that allows you to store all your crypto assets in one place. This is designed to allow safe and secure storage of your coins and tokens.
  • Ethos Smart Keys use a single 256-bit “root” key to derive any coin that supports the BIP32, BIP39, BIP44 and SLIP44 standards. This is designed to allow users to store hundreds of different coins, tokens and currencies with a single key.
  • A fiat gateway and diversification platform, which aims to make it quick and easy for novices to deposit funds and then diversify across preset or custom baskets of assets.
  • A Social Investment Network designed to connect novices with experienced crypto holders and reward users who help educate others.
  • Scalable API services that connect with financial institutions.
  • Ethos Bedrock, which provides a processing and development platform to run scalable applications, broadcast data and verify identity and source of funds on the blockchain.

Founded by Shingo Lavine, Ethos started life as Bitquence but underwent a rebranding in 2017.

How the Ethos Token (ETHOS) works

The Ethos Token (ETHOS) is essential to the functioning of the Ethos platform. Described as the fuel that powers the Ethos ecosystem, the token will:

  • Be the payment mechanism for accessing and using platform services.
  • Be used to pay for transaction fees and API calls.
  • Enable liquidity to help with changes in user asset allocations.
  • Be the fuel for a dynamic rewards and reputation system.
  • Allow users to transact with each other.

Ethos Tokens are issued on the Ethereum network using ERC20 standards.

Before you buy ETHOS: Things to consider

Cryptocurrencies are complicated and speculative, so you’ll need to carefully assess all the associated risks before making any purchases. There are a myriad of factors you should consider before buying ETHOS, including:

  • Supply. According to CoinMarketCap, at the time of writing (29/01/2018) the circulating supply of ETHOS was 75,408,536, out of a total supply of 222,295,208 ETHOS.
  • Potential. Despite their rapid growth in popularity in recent months, cryptocurrencies are still poorly understood by most of the population. Any company that successfully makes cryptocurrency widely accessible to the mainstream could potentially enjoy substantial profits. However, you’ll need to do your research to decide whether Ethos is well placed to achieve that goal.
  • Use and demand. As the value of the Ethos Token is tied to the Ethos platform, the level of demand for the platform will play a huge role in determining the token’s value. Consider the services Ethos plans to offer – you can check out the white paper here – to get a better idea of what it aims to achieve.
  • Future developments. While Ethos doesn’t offer a project roadmap on its website, it has revealed that the Ethos Universal Wallet is scheduled for release in Q1 2018 and the fiat gateway is due for release in Q2 2018. If you’re thinking of buying ETHOS, make sure you keep up to date with company announcements for details of any new releases or upgrades.

By considering these and a range of other factors, you’ll be able to make an informed decision about whether or not you should buy ETHOS.

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.

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping Australians find the right home loans and savings accounts. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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