How to buy Gains Farm (GFARM2) in Australia

Learn how to buy Gains Farm (GFARM2) easily by following a step-by-step guide and comparing 10+ crypto exchanges.

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Where to buy Gains Farm in Australia

Unfortunately, at this time no major exchanges in Australia offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.

Consider buying a different cryptocurrency after comparing popular exchanges.

It looks like GFARM2 may not be available to purchase on an exchange in Australia.

You can still purchase GFARM2 by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum 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 GFARM2 using a decentralised exchange.
  1. Find GFARM2 on a decentralised exchange and make sure Gains Farm can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for GFARM2 using an exchange like . You will need to purchase enough ETH to swap for GFARM2 as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for GFARM2 on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the GFARM2 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.

What to consider when buying Gains Farm

Cryptocurrencies are highly speculative assets that come with a range of risks. It is extremely important to remember that GFARM2 is a legacy token and, therefore, the relationship between GFARM2 and the new utility token ecosystem needs to be thoroughly understood. Those that are considering GFARM2 as an investment should consider the following factors:

  • Migration from GFARM2 to GNS: GFARM2 is no longer the utility token of the Gains Network and the gTrade application. All GFARM2 tokens must be migrated to the new utility token, GNS. This can be completed at any time and is completed at a ratio of 1:1000. For every 1 GFARM2 token, users will receive 1000 GNS tokens.
  • Reliance on Quickswap: The trading within gTrade is reliant on a GNS/DAI liquidity pool, hosted by Quickswap, and an internal DAI trading vault. It is the combination of both that allows traders to access 150x leverage for crypto pairs and 1000x for forex pairs. Although the mechanisms allow for extremely high leverage, the protocol is heavily reliant on the operability of the Quickswap decentralised exchange. It also opens up a potential vulnerability beyond the security features controlled by gTrade.
  • Prospect of future applications: The Gains Network is marketed as a growing ecosystem that may one day include other applications such as gTrade. The protocol’s documentation states that the new GNS token will be critical to all products created by the ecosystem, which means investors of GFARM2 (and by association GNS) should pay close attention to new applications developed within the Gains Network.
  • Security: The Gains Network and gTrade have had smart contracts audited by CertiK four times which will help to provide comfort to both users and investors of GFARM2 (GNS). The application also claims that traders have protection against separate exchange price manipulations thanks to the integration of the Chainlink data oracle.
  • NFT integration: The Gains Network and gTrade have implemented NFT utility. A total of 1500 NFTs were sold to community members that offer users key benefits within the gTrade application. NFTs are split into five categories including Bronze, Silver, Gold, Platinum, Diamond. Moving from Bronze to Diamond each NFT entitles the holder to reduced spreads and higher liquidity provider rewards.

How to sell Gains Farm

You can cash out your GFARM2 with the same exchange you bought it through:

  1. Sign in to the exchange you have GFARM2 on.
    If you store your Gains Farm in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of GFARM2 you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Gains Farm.

Disclaimer: Cryptocurrencies, including Gains Farm, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GFARM2 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 Gains Farm or any other cryptocurrency discussed.

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