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How to buy Flow (FLOW) in Australia
Learn how to buy Flow (FLOW) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy Flow
1. Compare crypto exchanges
The easiest way to buy Flow 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 – bank transfer, bpay, cash and cryptocurrency payments are widely accepted.
4. Buy Flow
You can now exchange your funds for Flow. 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 Flow to your personal wallet.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Where to buy Flow in Australia
Find an exchange to buy, sell and trade FLOW by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
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Steps on how to buy Flow
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Flow.
- Compare cryptocurrency exchanges that support FLOW.
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 Flow. - Buy Flow.
Complete your Flow purchase and then find the best wallet to store FLOW.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
What to consider when buying Flow
Below are the aspects you should consider before investing in FLOW:- Competition: Flow is yet another unique blockchain competing in an increasingly saturated market. Built to solve the scaling challenge associated with Ethereum, Flow joins a vast number of proof-of-stake networks all attempting to solve the same thing, competing with more established projects like Cardano, Algorand and Polkadot. Fortunately the development team Dapper Labs are off to a strong start with substantial success in both CryptoKitties, NBA Top Shot and impressive VC backing.
- Consumer-focused: Flow is a consumer-focused platform striving for mainstream use. To achieve this it tried to make fiat on-ramping (getting dollars onto the blockchain) as frictionless as possible by handling all Flow transactions through a Dapper account. Dapper lets users pay with credit or debit cards as well as leading cryptocurrencies, meaning users don't need to learn how to use a blockchain wallet or first buy cryptocurrency on an exchange to make purchases.
- Tokenomics: FLOW is designed to be the chain's native asset central to most, if not all applications. In addition to general payments, it's used to pay gas fees, works as a bridge asset between tokens on the network, and is required to mint new tokens or dapps on the network. The Flow blockchain is designed to let buyers pay in any currency they want (including fiat) and for sellers to receive in any currency they want. As such, there is the potential for FLOW as a unit of payment to be undermined by fiat payments, especially given that it is targeting a mainstream audience.
Recent Flow developments
February 2022: Flow has partnered with Chainlink to utilise its cross-chain oracle capabilities. This will allow DeFi projects across multiple blockchains to integrate an accurate price feed of FLOW.
How to sell Flow
You can cash out your FLOW with the same exchange you bought it through:
- Sign in to the exchange you have FLOW on.
If you store your Flow in a digital wallet, compare crypto exchanges to sell it on. - Place a sell order.
Choose the amount of FLOW you'd like to sell. - Complete your transaction.
Confirm the sell price and fees and close your sale of Flow.
Disclaimer: Cryptocurrencies, including Flow, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of FLOW 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 Flow or any other cryptocurrency discussed.
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