How to buy GNY (GNY) in Australia
Learn how to buy GNY (GNY) in our step-by-step guide.
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Where to buy GNY in Australia
It looks like GNY may not be available to purchase on an exchange in Australia.
You can still purchase GNY 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 GNY using a decentralised exchange.
- Find GNY on a decentralised exchange and make sure GNY can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for GNY using an exchange like Binance. You will need to purchase enough ETH to swap for GNY 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.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for GNY on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalise and the GNY 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.
Best GNY wallets to store your GNY
You can keep your GNY on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is GNY a good investment?
Buying cryptocurrency can be a risky endeavor, but there are precautions you can take to help mitigate risk, such as learning more about GNY before buying:
- Don't FOMO buy coins: Spend time researching a coin before you decide to invest, particularly if the coin's price is spiking for seemingly no reason.
- Stick with well known exchanges: Unless you're an experienced cryptocurrency trader, stick to more well known crypto exchanges to help avoid the possibility of losing your money in a scam. When possible, store your crypto on a hardware wallet instead of on an exchange.
- Look into the coin's founders and developers: Anonymous teams are often a red flag, so if you can't find details on the creator of the coin you may want to consider investing in a different cryptocurrency.
Additional information about GNY can be found using our GNY analysis tools.
Today's GNY price versus ATH
Compare today's price of GNY ($0.00500824 USD) against its all-time-high price of $2019-10-29T12:39:18.092Z USD on 01 January 1970. The closer the bar is to 100%, the closer GNY is to reaching its ATH again.
ATH date: October 29, 2019
GNY ATH: $3.24 USD
How to trade, convert or sell GNYYou can convert or sell your GNY with the same exchange you bought it through:
- Sign in to the exchange you have GNY on.
- If you store your GNY in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of GNY you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of GNY.
- Complete your transaction and move your GNY to a wallet for storage.
Disclaimer: Cryptocurrencies, including GNY, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GNY 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 GNY or any other cryptocurrency discussed.
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