How to buy Ivy (IVY)

Step-by-step instructions on how to buy, sell and trade Ivy in Australia.

Launched on 1 June 2018, Ivy tokens (IVY) can only be traded on a limited number of crypto exchanges at the time of writing, and you’re not yet able to buy Ivy with fiat currency – you’ll need to already own some crypto.

If you want to add some Ivy to your portfolio, keep reading for detailed instructions on where and how to buy and sell Ivy.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick guide: How to buy IVY

  1. Register for an account with an exchange like Cryptopia.
  2. Enable 2-factor authentication.
  3. Select the “Wallets” drop-down menu and click “Deposit”.
  4. Select bitcoin and copy your BTC wallet address or scan the QR code.
  5. Deposit BTC into your account.
  6. Click “Exchange”.
  7. Search for IVY/BTC.
  8. Enter the amount of IVY you want to buy and your price.
  9. Review transaction details.
  10. Click “Buy IVY”.

This is our quick guide to just one way to buy IVY. Compare some other options in the table below.

Where to buy IVY in Australia

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
IDEX Cryptocurrency Exchange
IDEX Cryptocurrency Exchange
Cryptocurrency
-
EOS, RFR, CS, AUC, BEE, BANCA, CNN, EOSDAC, FSN, NBAI, TRAC, VET, XBP & 60+ more
Cryptopia Cryptocurrency Exchange
Cryptocurrency
-
BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT, ZEN, NRG, SMART & 500+ more
Buy and sell hundreds of cryptocurrencies with minimal verification on this all-in-one, New Zealand-based exchange.
CoinBene Cryptocurrency Exchange
CoinBene Cryptocurrency Exchange
Cryptocurrency
-
ETH, BTC, EOS, XRP, LTC, GOT, SRCOIN, ABYSS, CONI, ORME, PAL, VME, ZIPT, CTXC, PCH ,CNN, OMX, MOAC, ATX, SENC, ESS, SWTC, TEN, DOCK, ALX, NPXS, ETK, CS, TSL,ETP , OMG, AE, XNK, CMT, BCD, BKX, TCT, BCH, AIDOC, ETC, ADI, SEELE, CREDO, NBAI, BSTN, TRUE, LUC, GETX, IVY, SMART, TRF, TRX, STQ, BEZ, TNB, NCASH, MT, IHT, ABT,TTT, CAN, MTN, HLC, INK ,FND, PLAY, NULS, MDA, RCT

Compare up to 4 providers

HiveEx Logo

Enter your details below to receive a quote from a HiveEx.com trader as soon as possible.

HiveEx.com is an over-the-counter (OTC) cryptocurrency platform specialising in high-volume trades.

  • Trade between $50,000 and $100m for a fixed price
  • Tap into HiveEx.com’s global network of high liquidity trading partners
  • Access competitive rates compared to traditional exchange trading
  • Receive your coins in your wallet fast, with same day settlement options
  • As an AUSTRAC registered company, HiveEx.com is fully compliant with industry-standard AML and CTF obligations

A step-by-step guide to buying IVY

For the purposes of this example, we’ll provide step-by-step instructions on how you can buy IVY with bitcoin (BTC).

How to sell IVY

If you want to sell Ivy, you’ll need to follow a fairly similar process to that detailed in step 4 above. Of course, this time around you’ll have to use the “Sell IVY” box located on the right of the trading interface.

It’s also worth mentioning that IVY is only available in a limited range of trading pairs, so you may not be able to directly exchange your IVY for the currency you want to acquire.

Which wallets can I use to hold IVY?

While it’s possible to store your tokens on an exchange, this isn’t a good idea for any prolonged period of time. With exchanges a popular target for hackers, it’s generally recommended that you transfer your tokens into a wallet that allows you to retain control of your private key.

Ivy tokens are ERC20 tokens on the Ethereum blockchain, which means there’s ample choice available when you’re searching for a wallet. For example, you may want to consider some of the following options:

The Ivy Network's purpose

The international money transfer industry is huge – SWIFT alone handles the transfer of nearly US$5 trillion worldwide every day – but current payment methods are slow, outdated and expensive. The introduction of blockchain technology and cryptocurrencies has the potential to revolutionise cross-border payments, making it possible to send near-instant and almost fee-free transactions all around the world.

However, the emergence of digital currencies has also led to increased concern from regulators about the potential for money laundering and other illegal activities.

And that’s where the Ivy Network and Ivy tokens come in. Ivy is designed to facilitate secure, transparent business payments on a global scale. By embedding Know Your Customer (KYC) and Know Your Transaction (KYT) data points into a transaction, Ivy aims to combine the best features of traditional centralised banking and payment systems with the benefits of the decentralised blockchain network:

  • On the one hand, it meets the regulatory requirements of traditional financial systems.
  • On the other, it also offers fast, decentralised transaction-processing technology.

How the Ivy Network works

When the Ivy Network goes live in 2019, it will utilise IVY tokens, which carry KYC and KYT details to meet the verification requirements for transactions. When implemented, it’s anticipated that the Ivy Network will allow for the inclusion of more than 120 different KYT data points and more than 70 different KYC data points in transaction messages.

According to the project’s white paper, the platform will use a dual-network architecture. This will see senders of tokens operate on a public network (Ivy Public Network), and parties that provide the financial settlement to fiat currency participate on a private network (Ivy Private Network).

This structure involves two separate tokens. If you want to send third-party cryptocurrency to someone else, you’ll need to exchange your crypto for Ivy Public Network Tokens (IVY). These will then be submitted to an Ivy Network contract on the Ethereum network, where they will be subsequently held in escrow until the transfer is successfully completed.

The Ivy Private Network is intended to distribute funds to the bank accounts of intended recipients through the use of private contracts. This will allow participating financial institutions and intermediaries to stake their participation using a private Token (IVYB).

According to the white paper, “When fully developed, IVYB are anticipated to be asset-backed tokens that reflect Ivy Private Network account holders that have fiat reserves capable of clearing transactions to the Ivy Network”.

*NB: In the diagram below, IVY tokens are referred to as IVYA.

The Ivy Network
How the Ivy Network works Ivy

What to consider before you buy IVY

Make sure you thoroughly research any cryptocurrency before buying. Not only are digital currencies notoriously volatile, they’re also highly complicated assets. There are several factors that can impact on a coin’s price, so you need to be fully aware of the risks involved before spending any of your funds.

If you’re thinking of buying IVY, consider the following:

  • Supply. According to CoinMarketCap, at time of writing (September 2018) the circulating supply of IVY was 300,199,658, out of a total supply of 1,610,924,200. Check out the Ivy Project website for a breakdown of how those tokens have been distributed.
  • Limited availability. As a relatively new coin, Ivy is only listed on a handful of exchanges. While this could have a negative impact on the current level of demand for the coin, it also means there’s potential for increased demand should IVY gain listings on larger, more popular exchanges.
  • Whitepaper. If you want to know more about the tech behind Ivy and how this cryptocurrency works, take a closer look at the project’s whitepaper.
  • Potential. The global money transfer market is huge and also well in need of an overhaul. If the Ivy team can achieve their ambitious goals and help drive this payments revolution, there’s plenty of potential for growth.
  • Competition. Ripple and Stellar are probably the two biggest and best-known projects focused on cross-border payments. Ripple in particular is focused on big businesses, so it’s worth comparing IVY with XRP to see how the two currencies stack up.
  • Still being developed. The Ivy roadmap reveals that the Ivy Network’s creation of a minimum viable product is scheduled for 2019. As with any other project still being developed, whether or not it will be able to realise the goals it sets out to achieve remains uncertain.

Make sure you do your due diligence to decide whether or not you think the Ivy Network and its native token are destined for success.

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

Disclosure: At the time of writing the author holds ADA, ICX, IOTA, POWR and XLM.

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping Australians find the right home loans and savings accounts. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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