How to buy LUKSO (LYXE) in Australia
Learn how to buy LUKSO (LYXE) on 2+ crypto exchanges in our step-by-step guide.
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You can buy LUKSO (LYXE) on a cryptocurrency exchange like CoinSpot. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Founded by Ethereum developer Fabian Vogelsteller and innovation adviser Marjorie Hernandez, LUKSO is a public blockchain specifically aimed at fashion and lifestyle. Here's how to buy LUKSO.
How to buy LUKSO in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy LUKSO 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.
- 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.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – bank transfer, bpay, cash and cryptocurrency payments are widely accepted.
- Buy LUKSO You can now exchange your funds for LUKSO. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your LUKSO to your personal wallet.
Where to buy LUKSO in Australia
Find an exchange to buy, sell and trade LYXE by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy LUKSO?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy LUKSO?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading LUKSO.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing LYXE with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy LUKSO with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy LYXE with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy LYXE on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase LYXE by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for LYXE on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy LUKSO?
The easiest way to buy LYXE is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying LYXE, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of LUKSO has been performing recently.
Best LUKSO wallets to store your LYXE
You can keep your LYXE 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 LUKSO a good investment?Whether purchasing LYXe for future use or as an investment, any altcoin carries high risks and it’s important to understand the key features of the token. For LYXe, here are a few factors to consider:
- Supply. There is a maximum supply of 100 million tokens. According to coin aggregator, CoinMarketCap, at the time of writing, the current circulating supply is 15 million. It is expected that when the network is launched in Q4 2021, the circulating supply will increase to 35 million.
- LYX vs LYXe. Both LYX and LYXe represent the same asset, but they exist on different blockchain networks. LYX represents the native token of the LUKSO blockchain and will be used to secure the decentralised infrastructure. It will be used to pay for transaction fees on the blockchain and will be required for those wishing to stake and participate in block production. LYXe are pre-launch tokens that are situated on the Ethereum blockchain. Once LUKSO mainnet has launched, LYXe tokens will migrate to LYX.
- Transaction fees. The future LYX token will be paid by users and collected by block producers. Transaction fees will prevent network spam and reward block validation. The transaction fee on the network will depend on transaction complexity.
- Staking. Once LYXe tokens have migrated to LYX, any token holder can stake in the blockchain network to receive a share of the transaction fees and block rewards.
Additional information about LUKSO can be found using our LYXE analysis tools.
Today's LUKSO price versus ATH
Compare today's price of LUKSO ($4.58 USD) against its all-time-high price of $41.18 USD on 04 November 2021. The closer the bar is to 100%, the closer LYXE is to reaching its ATH again.
ATH date: November 04, 2021
LUKSO ATH: $41.18 USD
How to trade, convert or sell LUKSOYou can convert or sell your LYXE with the same exchange you bought it through:
- Sign in to the exchange you have LYXE on.
- If you store your LUKSO 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 LYXE you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of LUKSO.
- Complete your transaction and move your LYXE to a wallet for storage.
Disclaimer: Cryptocurrencies, including LUKSO, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of LYXE 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 LUKSO or any other cryptocurrency discussed.
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