How to buy Index Coop – ETH 2x Flexible Leverage Index (ETH2X-FLI) in Australia

Learn how to buy Index Coop - ETH 2x Flexible Leverage Index (ETH2X-FLI) easily by following a step-by-step guide and comparing 10+ crypto exchanges.

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Where to buy Index Coop - ETH 2x Flexible Leverage Index 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 ETH2X-FLI may not be available to purchase on an exchange in Australia.

You can still purchase ETH2X-FLI 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 ETH2X-FLI using a decentralised exchange.
  1. Find ETH2X-FLI on a decentralised exchange and make sure Index Coop - ETH 2x Flexible Leverage Index 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 ETH2X-FLI using an exchange like . You will need to purchase enough ETH to swap for ETH2X-FLI 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 ETH2X-FLI 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 ETH2X-FLI 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 Index Coop - ETH 2x Flexible Leverage Index

ETH2x-FLI is a leverage index token operated by the Index Coop protocol. Although innovative, the inner workings of ETH2x-FLI are complex and, therefore, should be thoroughly understood before investing. Here are a few key aspects of the project worth considering:

  • Innovative index product: ETH2x-FLI is a token that will provide the holder with 2x leveraged exposure to the ETH cryptocurrency. All market movements experienced on Ethereum will be amplified with the ETH2x-FLI token without the user needing to worry about liquidation risks. While doubling the returns if price increases, the token will also double losses if the price of ETH falls.
  • Use of ETH2x-FLI within DeFi: As an ERC-20 token, ETH2x-FLI can be utilised within a range of DeFi applications, such as Uniswap. By depositing the token into a liquidity pool users can earn transaction fees from the chosen DeFi platform while maintaining the 2x leveraged position on ETH. Impermanent loss can be reduced by providing liquidity to a pool such as ETH2x-FLI - ETH.
  • Dependency on Compound: The existence of ETH2x-FLI depends on the decentralised finance protocol, Compound. All ETH assets are deposited into Compound to access USDC, which is then reinvested to buy more ETH. If anything happens to the Compound Finance protocol, the subsequent effects on ETH2x-FLI are unknown and could be catastrophic. Before purchasing ETH2x-FLI it might be worth researching Compound and becoming familiar with how the protocol operates.

How to sell Index Coop - ETH 2x Flexible Leverage Index

You can cash out your ETH2X-FLI with the same exchange you bought it through:

  1. Sign in to the exchange you have ETH2X-FLI on.
    If you store your Index Coop - ETH 2x Flexible Leverage Index in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of ETH2X-FLI you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Index Coop - ETH 2x Flexible Leverage Index.

Disclaimer: Cryptocurrencies, including Index Coop - ETH 2x Flexible Leverage Index, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of ETH2X-FLI 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 Index Coop - ETH 2x Flexible Leverage Index or any other cryptocurrency discussed.

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