How to buy Geist Finance (GEIST) in Australia
Learn how to buy Geist Finance (GEIST) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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Where to buy Geist Finance 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 GEIST may not be available to purchase on an exchange in Australia.
You can still purchase GEIST by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Fantom 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 GEIST using a decentralised exchange.
- Find GEIST on a decentralised exchange and make sure Geist Finance can be traded for FTM which is the native asset of Fantom. The most popular DEX on Fantom is Spookyswap.
- Buy FTM to trade for GEIST using an exchange like . You will need to purchase enough FTM to swap for GEIST as well as FTM to pay for transaction fees on the Fantom network (known as gas). Gas fees on Fantom cost a fraction of a cent.
- Transfer the FTM into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade FTM for GEIST on the DEX of your choice, following the instructions on screen. Make sure to leave enough FTM in your wallet to pay for gas.
- Wait for the transaction to finalise and the GEIST tokens will arrive in your wallet.
- 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 Geist Finance
GEIST is the native crypto asset of this project and is designed to provide users with a whole host of functional benefits. Here are some key points regarding the project worth remembering before making a substantial investment:
- Locked rewards: GEIST can be staked in the Geist Finance platform for a share of all platform fees. However, the platform implements what is known as Ellipsis Finance, which involves locking rewards for a period of 90 days. Users do have the option to exit earlier but must forgo 50% of due rewards.
- Higher incentives for borrowers: While both borrowers and lenders are incentivised to use Geist Finance with GEIST token rewards, rewards are distributed in a ratio of 2:1 towards borrowers. The platform’s development team regards borrowers as being instrumental in not only generating additional revenue for the project but also for helping in the platform’s future growth.
- TokenomicsThe number of GEIST tokens is capped at 1 billion. Of this, 40% have been set aside as incentives for lenders and borrowers while another 40% was designated for GEIST/FTM liquidity providers and airdrop purposes. The remaining 20% is reserved for the platform’s development team and its list of core supporters.
- Reliance on Fantom Geist Finance has been developed on the Fantom blockchain. This means that the success of the platform will likely be highly correlated with the overall adoption of Fantom. It might be worth evaluating Fantom against other layer-1 networks to see if it can compete. Competing blockchains include Solana, Ethereum and Avalanche.
How to sell Geist Finance
You can cash out your GEIST with the same exchange you bought it through:
- Sign in to the exchange you have GEIST on.
If you store your Geist Finance in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of GEIST you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Geist Finance.
Disclaimer: Cryptocurrencies, including Geist Finance, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GEIST 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 Geist Finance or any other cryptocurrency discussed.
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