How to buy Metal (MTL) in Australia
Learn how to buy Metal (MTL) on 16+ crypto exchanges in our step-by-step guide.
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You can buy Metal (MTL) on a cryptocurrency exchange like CoinSpot. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Metal Pay is a blockchain-based payment processing platform designed to introduce cryptocurrency to the masses. Here's how to buy Metal.
How to buy Metal 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 Metal 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 Metal You can now exchange your funds for Metal. 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 Metal to your personal wallet.
Where to buy Metal in Australia
Find an exchange to buy, sell and trade MTL 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 Metal?
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 Metal?
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 Metal.
- 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 MTL 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 Metal with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy MTL 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 MTL 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 MTL by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for MTL on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Metal?
The easiest way to buy MTL 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 MTL, 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 Metal has been performing recently.
Best Metal wallets to store your MTL
You can keep your MTL 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 Metal a good investment?
Buying cryptocurrency is risky and speculative, and there are several complicated factors that can influence the value of digital currencies. As a result, it’s critical that you consider all the risks associated with any crypto before deciding to buy. If you’re thinking of purchasing MTL, take these factors into account:
- Rewards. METAL rewards are distributed through the proof-of-processed-payments system, allowing users to earn up to 5% MTL on every purchase. 26,341,112 MTL tokens are set aside for this purpose. An additional 13,378,888 MTL are kept in the Metal operational pool to be used at the company’s discretion.
- Use-case. MTL tokens are offered as a reward to encourage the widespread adoption of cryptocurrency. However, they have a range of other uses. For example, merchants will be able to purchase platform credit with MTL, which will entitle them to a discount on all associated payment processing fees and merchant services. Merchants may also receive an additional 5% discount off payment processing fees for offering a discount to customers who pay with MTL.
- Target audience. Metal’s goal is to provide the financial services that small-to-medium-sized businesses need but can’t access. Its initial target market will be high-risk merchants, cash-intensive merchants and those who want to accept cryptocurrency. Metal’s ability to attract and seamlessly integrate such merchants into its system will be crucial to the value of MTL tokens.
- Market competition. It’s important to assess the challenges Metal Pay could face from competitors. For example, OmiseGo (OMG) offers a similar product that is well worth researching.
Additional information about Metal can be found using our MTL analysis tools.
Today's Metal price versus ATH
Compare today's price of Metal ($1.27 USD) against its all-time-high price of $2020-03-13T02:29:54.468Z USD on 01 January 1970. The closer the bar is to 100%, the closer MTL is to reaching its ATH again.
ATH date: March 13, 2020
Metal ATH: $17.03 USD
How to trade, convert or sell MetalYou can convert or sell your MTL with the same exchange you bought it through:
- Sign in to the exchange you have MTL on.
- If you store your Metal 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 MTL you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Metal.
- Complete your transaction and move your MTL to a wallet for storage.
Disclaimer: Cryptocurrencies, including Metal, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MTL 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 Metal or any other cryptocurrency discussed.
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