How to buy Metis (METIS) in Australia

Metis (METIS) is the 207th largest cryptocurrency by market cap, valued at US$388,477,325.

Metis is a highly volatile asset capable of major price swings in a single day. Today METIS is trading for $68.89 USD, which is lower than yesterday's trading price of $71.14 USD. Over the past year, Metis's price has seen an increase of 160%.

So before you buy Metis, 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 Metis.

Where to buy Metis in Australia

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

What is Metis?

Metis is a layer-2 (L2) Ethereum rollup solution designed to assist Web2 businesses or applications enter the next generation Web3. Unlike other L2 solutions, Metis offers a Decentralised Autonomous Company (DAC) framework, that allows businesses to quickly launch blockchain-based applications or communities. The protocol is also scalable, cost-effective, and easy to use.

According to the project's website, with the price of every transaction on the Ethereum blockchain being costly and competitive, Metis makes it easy for NFT platforms, gaming communities, yield farmers, and exchanges, to enjoy network effects without committing significant capital to transactions. By using Optimistic Rollup technology and offering seamless compatibility with the Ethereum Virtual Machine (EVM), smart contracts can often be migrated to Metis in less than a day. To encourage the adoption of lower fees while maintaining quality services, dApp developers can join Metis's Builder Mining Program, which offers access to technical support, marketing resources, launchpad access and venture capital investment. In addition to support, 30% of all transaction fees collected within the ecosystem are distributed to members of the Building Mining Program to further assist platform development. By encouraging low fees Metis aims to increase the overall number of transactions made and increase network effects. While transaction costs are already low, in the future, Metis aims to release the Metis storage layer that will further reduce gas fees to fractions of a US dollar.

METIS is the native utility and governance cryptocurrency of the Metis L2 solution. The token is used to support all aspects of the Metis ecosystem and can be staked by users and DACs created within the ecosystem for further rewards.

Best Metis wallets to store your METIS

You can keep your METIS 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 METIS below.

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

Is Metis a good investment?

It is good practice to review all aspects of a cryptocurrency and the associated platform before investing. Here are a few things to consider before purchasing METIS:

• Popularity of other layer-1 blockchains: Other blockchains such as Polkadot, Cardano, and Solana have already attracted many Ethereum users and developers thanks to higher throughput, quicker transaction times, and lower fees. While L2s can also offer high throughput, quick transaction times and low gas fees, the success of L2s is still reliant on the popularity of the Ethereum blockchain. Less traffic on Ethereum may deter dApp developers from building on L2s such as Metis. All potential investors of METIS should pay close attention to which dApps are being developed using the protocol.
• TLV on METIS: The total value locked (TVL) on Metis will signal users' interest in trading, investing, and making transactions on the Rollup platform. TVL is a common metric to measure a chain's success in attracting users and developers who are willing to commit capital for long periods of time. The indicator can be a great measure for gauging the popularity of a protocol, blockchain, liquidity pool, or validator node and should be considered before any investment is made. The TVL of Metis should be compared against other L2 solutions such as Optimism and Arbitrum.
• Future Ethereum development: The most appealing factor of using an L2 is avoiding the competitive fees often associated with the Ethereum layer-1 blockchain. However, Ethereum is currently undergoing an infrastructure overhaul to Ethereum 2.0. Ethereum 2.0 may result is a significant drop in transaction costs, which could make the use of L2s redundant. DApp developers may opt to stay on Ethereum after the upgrade has been processed, however, the date of the final Ethereum 2.0 upgrade is currently unknown.

Today's Metis price versus ATH

Compare today's price of Metis ($68.89 USD) against its all-time-high price of $323.54 USD on 16 January 2022. The closer the bar is to 100%, the closer METIS is to reaching its ATH again.

How to trade, convert or sell Metis

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

1. Sign in to the exchange you have METIS on.
2. If you store your Metis 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 METIS you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Metis.
6. Complete your transaction and move your METIS to a crypto wallet for storage.

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