How to buy Gitcoin (GTC) in Australia
Learn how to buy Gitcoin (GTC) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy Gitcoin
1. Compare crypto exchanges
The easiest way to buy Gitcoin 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 Gitcoin
You can now exchange your funds for Gitcoin. 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 Gitcoin to your personal wallet.
Where to buy Gitcoin in Australia
Find an exchange to buy, sell and trade GTC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Gitcoin
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Gitcoin.
- Compare cryptocurrency exchanges that support GTC.
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 Gitcoin.
- Buy Gitcoin.
Complete your Gitcoin purchase and then find the best wallet to store GTC.
What to consider when buying Gitcoin
Cryptocurrencies are highly volatile and risky assets. Before making a purchase an investor should consider all aspects of the token and the associated platform. Here are a few things to consider before purchasing GTC:
- Governance: Given the communal nature of Gitcoin’s network, its governance system will be vital to its success. The voting system is a fork of DeFi network Compound’s. Essentially, each proposal needs 51% of votes in its favour to pass, with at least a 2.5% quorum.
- Token distribution: There is a total supply of 100 million GTC, which are distributed in three ways. Firstly, 15% of this supply is dedicated to participants on the platform – those who have added value through bug bounties, contributions to grants, and so on. 35% of the supply is reserved for Gitcoin stakeholders, while the remaining 50% is set aside in the DAO treasury.
- Use-case: GTCs primary purpose is governance, with the majority of tokens time-locked in the DAO treasury. The entire allocation of DAO-bound tokens will be unlocked in mid-2023. The Gitcoin team is very strong on emphasising that GTC has no economic value whatsoever – it is purely for maintaining the decentralised integrity of the Gitcoin ecosystem.
How to sell Gitcoin
You can cash out your GTC with the same exchange you bought it through:
- Sign in to the exchange you have GTC on.
If you store your Gitcoin in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of GTC you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Gitcoin.
Disclaimer: Cryptocurrencies, including Gitcoin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GTC 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 Gitcoin or any other cryptocurrency discussed.
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