How to buy JasmyCoin (JASMY) in Australia

JasmyCoin (JASMY) is the 103rd largest cryptocurrency by market cap, valued at US$867,651,469.

JasmyCoin is a highly volatile asset capable of major price swings in a single day. Today JASMY is trading for $0.01795299 USD, which is higher than yesterday's trading price of $0.0177482339 USD. Over the past year, JasmyCoin's price has seen an increase of 175%.

So before you buy JasmyCoin, make sure you understand these unique risks as well as its legal and tax status here in Australia.

If you're ready to get started, read on for step-by-step instructions on how you can use to buy JasmyCoin.

Where to buy JasmyCoin in Australia

Find an exchange to buy, sell and trade JASMY by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

What is JasmyCoin?

JASMY is an ERC20 token issued by an Internet-of-Things (IoT) platform also known as Jasmy. Jasmy was designed to provide individuals and businesses with the opportunity to exchange value or pay for services via smartphones, laptops, and other devices. Jasmy aims to demolish the information monopoly that is controlled by technology giants, such as Meta, Apple, and Google. Centralised organisations such as these have been known to exploit users' data for the gains of the company. Jasmy wishes to provide a solution to this problem with a fairer infrastructure developed for Web3. The new infrastructure allows everyone to fully own and control their own data in a safe and secure manner.

According to the project's whitepaper, the platform is building a global data marketplace that allows companies to pay for user data through the application of the JASMY token. Individual users then have a choice as to whether their personal data can be accessed via the Jasmy marketplace. For those that wish to share data with companies within Jasmy's ecosystem, the JASMY token will be used as a reward. Likewise, companies that wish to access users' data will need to deposit JASMY tokens to access data that is stored within Jasmy's data lockers. In addition to the fair distribution of user data, Jasmy also offers access to IoT-compatible devices, a development environment for IoT services, secure data analysis, and IoT strategy and management.

Best JasmyCoin wallets to store your JASMY

You can keep your JASMY 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 take a look at some of our top hardware wallet picks for self-custody of your JASMY below.

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

Is JasmyCoin a good investment?

All altcoins are highly volatile assets. Prices can rise and fall considerably depending on project fundamentals. Therefore, it is crucial to evaluate a token and its associated protocol thoroughly before an investment is made. Here are a few factors to consider before investing in JASMY:

• Scalability: The Ethereum Network is one of the most heavily congested blockchains within the cryptocurrency industry. As a result, the speed and efficiency of transactions will remain poor until it truly scales. To navigate the high levels of congestion, Jasmy plans to develop its own data storage network called Jasmy SKC. According to the project's website, this will likely be based on Hyperledger Fabric, Corda, or Substrate, all of which are far more scalable than Ethereum. Jasmy will likely need to navigate scaling issues before the protocol can fulfil its ambitions of Web3 data transfer.
• Audit: The platform runs on one of the most secure smart contracts networks within the cryptocurrency industry - Ethereum. In addition to the security that Ethereum offers, the protocol was audited by security firm SlowMist. While an audit does not mean the protocol is failure-proof, completing an audit is an encouraging sign for most blockchain-based protocols. For those considering an investment in JASMY, It might be worth reviewing the audit that was completed by SlowMist.
• Token supply: JASMY has a maximum total supply of 50 billion tokens. Only 10% are currently within circulation. The remaining 90% are held by the operating company and are set to be periodically released to fund development, growth, and marketing.
• Industry size: The Internet-of-Things industry is projected to reach $1.1 trillion in revenue by 2024. The considerable size of the market means that Jasmy has a greater market share to capture when compared with other cryptocurrency niches. However, the Internet-of-Things is littered with companies and projects that are focused on improving the sector. Jasmy will need to compete with centralised companies, such as Google and Meta, and other decentralised protocols, such as Helium and VeChain. The value of JASMY will, ultimately, be tied to the success of the platform and its ecosystem. The more users that adopt the platform, the higher the demand will be for JASMY.

Today's JasmyCoin price versus ATH

Compare today's price of JasmyCoin ($0.01795299 USD) against its all-time-high price of $4.79 USD on 16 February 2021. The closer the bar is to 100%, the closer JASMY is to reaching its ATH again.

How to trade, convert or sell JasmyCoin

You can convert or sell your JASMY with the same exchange you bought it through:

1. Sign in to the exchange you have JASMY on.
2. If you store your JasmyCoin in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of JASMY you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of JasmyCoin.
6. Complete your transaction and move your JASMY to a crypto wallet for storage.

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