Merit Circle (MC) is the 608th largest cryptocurrency by market cap, valued at US$62,908,017.
Merit Circle is a highly volatile asset capable of major price swings in a single day. Today MC is trading for $2.69 USD, which is higher than yesterday's trading price of $2.48 USD. Over the past year, Merit Circle's price has seen an increase of 858%.
So before you buy Merit Circle, 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 Merit Circle.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy Merit Circle in 5 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 exchanges
The easiest way to buy Merit Circle 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 deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Merit Circle
You can now exchange your funds for Merit Circle. On beginner-friendly exchanges, this is as simple as entering the AUD or MC amount you want to purchase and clicking "buy".
Secure your Merit Circle
Consider transferring your MC to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy Merit Circle in
Australia
Find an exchange to buy, sell and trade MC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Merit Circle guide up-to-date
MC price data is regularly updated through data feeds so you always have the latest information.
What is Merit Circle?
Merit Circle is a decentralised autonomous organisation (DAO) and gaming guild that invests in elements involving the play-to-earn (P2E) ecosystem. Aimed at bridging the gap between P2E, gaming, and education the project seeks to help those that want to earn money from gaming while helping to build the metaverse on the Ethereum and Binance Smart Chain blockchains.
As part of the project's initiative, the DAO hosts scholarship programs and educational content to offer gamers the opportunity to earn more while eliminating the barriers to entry in the P2E space. According to the project's website, the gaming guild assigns managers to oversee daily operations and rewards them based on performance. Gamers, on the other hand, get to enjoy borrowed gaming assets that enable them to earn in the industry's most popular games.
MC is the native governance token that allows holders to submit or vote on proposals that decide the actions taken by the DAO. Furthermore, Merit Circle continually partners with P2E games in the industry to give MC token holders exclusive in-game rewards, early access to games, and other perks.
How do I find the best places to buy Merit Circle?
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 Merit Circle?
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 Merit Circle.
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 MC 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.
What are the best ways to buy Merit Circle?
Once you've created an account, you will need to deposit funds to buy MC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy MC:
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 MC by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for MC on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Merit Circle?
The easiest way to buy MC 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 MC, 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 all-time high tool to get an idea of how the price of Merit Circle has been performing recently.
Best Merit Circle wallets to store your MC
You can keep your MC 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 MC below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Merit Circle a good investment?
Cryptocurrencies are both complicated and speculative. Buying any crypto coin or token comes with a high level of risk. It's essential that you're fully aware of all the risks involved before you decide to buy. If you're thinking of purchasing MC, make sure you consider the following factors:
Games: The guild currently runs scholarship programs for Sidus Heroes, Axie Infinity, and Vulcan Forged. Furthermore, it aims to expand to other games including Big Time, Cyball, Genopets, Illuvium, and Nyan Heroes. Potential investors of MC should keep up to date with the latest games that are integrated into the Merit Circle ecosystem.
P2E index: The Merit Circle DAO will continue to invest in the best games the GameFi sector has to offer. Methods of investment include buying native non-fungible tokens (NFTs) and employing yield farming strategies for gaming tokens. As a result of Merit Circle's investments, the DAO compares the native MC token to a P2E index. The DAO claims that buying the MC token is like betting that the entire P2E industry will increase in value and size over time.
Staking rewards: The DAO has established two native liquidity pools for staking: one specifically for MC tokens and the other for liquidity provider (LP) tokens, such as MC/ETH. Both pools reward users with MC tokens proportional to the staked amount. Note that LP tokens are generated by depositing liquidity to the MC/ETH pool on Uniswap. Besides the token rewards, stakers can also enjoy exclusive perks enabled by the DAO's partnerships.
Well known investment backers: Merit Circle is backed by several prominent venture capital firms including the prominent Digital Currency Group (DCG). DCG has invested in several crypto-focused projects including the news site, CoinDesk, and the investment platform, GrayScale. Having a prominent partner such as DCG is encouraging for the future prospects of Merit Circle.
Competitors: Gaming guilds are becoming increasingly popular within the cryptocurrency industry. As a result, Merit Circle needs to compete with other projects including Good Games Guild, Unix Gaming, and the market leader, Yield Guild Games - which is also a co-investor of Merit Circle.
Today's Merit Circle price versus ATH
Compare today's price of Merit Circle ($2.69 USD) against its all-time-high price of $11.7 USD on 02 December 2021. The closer the bar is to 100%, the closer MC is to reaching its ATH again.
Merit Circle's price: $2.69 USD ATH date: December 02, 2021
22.99%
Merit Circle ATH: $11.7 USD
How to trade, convert or sell Merit Circle
You can convert or sell your MC with the same exchange you bought it through:
Sign in to the exchange you have MC on.
If you store your Merit Circle 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 MC you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Merit Circle.
Complete your transaction and move your MC to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Merit Circle, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MC 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 Merit Circle or any other cryptocurrency discussed.
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