Where to buy Nav Coin (NAV) and how it works

Nav Coin (NAV) is a decentralised cryptocurrency based on Bitcoin Core. It offers completely anonymous payments and a 30-second transaction time, and it's currently available on a number of cryptocurrency exchanges.

So, how does Nav Coin work and where can you buy NAV in Australia? Let’s take a closer look.

Where to buy NAV

You can purchase Nav Coin on a wide range of popular cryptocurrency exchanges, including the following:

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Name	Product	Deposit methods	Fiat Currencies	Cryptocurrencies
Swyftx Cryptocurrency Exchange		Bank transfer,POLi,Osko,PayID	AUD	177 cryptocurrencies	Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.	Go to site View details	Compare	loading Fetching your data...
Easy Crypto Cryptocurrency Exchange - Australia		Bank transfer,POLi	AUD	49 cryptocurrencies	Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.	Go to site View details	Compare	loading Fetching your data...
CoinSwitch Cryptocurrency Exchange		Credit card,Cryptocurrency	USD, JPY, RUB, EUR	387 cryptocurrencies	CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.	Go to site View details	Compare	loading Fetching your data...
YoBit Cryptocurrency Exchange		AdvCash,Cryptocurrency,Payeer,Perfect Money,Capitalist	USD, RUB	1427 cryptocurrencies	Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.	Go to site View details	Compare	loading Fetching your data...
Indacoin Cryptocurrency Exchange		Credit card,Debit card	USD, EUR, RUB	158 cryptocurrencies	Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.	View details	Compare	loading Fetching your data...
Bittrex Digital Currency Exchange		Cryptocurrency,Wire transfer	USD	278 cryptocurrencies	Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.	View details	Compare	loading Fetching your data...

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A step-by-step guide to buying Nav Coin

If you want to buy Nav Coin, you should be aware that there’s currently no way to directly exchange fiat currency (such as your Australian dollars) for NAV. Instead, you’ll need to purchase a cryptocurrency such as bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC) and then exchange that currency for NAV.

• Learn how to buy bitcoin
• Learn how to buy Ether

Here’s an example of how you can purchase Nav Coin:

Step 1. Create an account at Binance or any other exchange where you can buy NAV

It’s free to sign up for an account by providing your name, email address, phone number and proof of ID. For extra security, set up two-factor authentication before you start trading.

Step 2. Deposit funds into your account

The steps you need to follow to deposit funds into your account will vary slightly depending on the exchange you’re using. For example, on Binance, you’ll have to click on “Funds” and then on “Deposit” in the menu found at the top of the screen.

Step 3. Buy NAV

Now it’s time to trade BTC, ETH or LTC for Nav Coin. Once again, the process for doing so differs slightly from one exchange to the next.

For example, on Binance, you can click on the relevant currency pair you want to exchange (such as NAV/ETH), choose whether you want to place a market order or set your own limit, and then enter the amount of NAV you want to buy. After reviewing the current price and checking the total cost of the transaction, click “Buy NAV” if you want to proceed.

NAV wallets

Once you’ve purchased Nav Coin, it’s important to store your cryptocurrency in a secure wallet. The Nav Coin Core wallet is available for download from the official Nav Coin website and is compatible with Windows, OSX and Linux.

There’s also a paper wallet generator available for download if you would prefer to store your coins offline.

How Nav Coin works

One of the first fully anonymous cryptocurrencies, Nav Coin was launched in 2014. Originally starting life as SummerCoinV2, it was eventually rebranded to its current moniker.

Nav Coin is based on NavTech, which combines the bitcoin blockchain with its own secondary subchain. This means Nav Coin transactions can be scrambled so that the sending wallet can be completely disconnected from the receiving wallet. As a result, NAV users have the option to send completely anonymous transactions via this dual blockchain system.

What to consider before buying Nav Coin

Considering buying Nav Coin? There are several important factors you should take into account before deciding whether to buy:

• Up to 5% interest. As Nav Coin uses a proof-of-stake algorithm to process transactions and secure its network, coin holders that stake their NAV holdings receive up to 5% interest on that amount.
• Transaction time. While many other cryptocurrencies have transaction times of 10 minutes, Nav Coins can be sent anywhere in the world almost instantly. The NAV you send can become spendable within 30 seconds, which can be useful should you need to take advantage of a time-critical opportunity.
• Transaction cost. One factor that differentiates Nav Coin from many other cryptocurrencies is its low transaction cost of 0.0001 NAV. Remember to take this figure into account when calculating the utility of Nav Coin.
• The team behind NAV. Consider the team of developers behind Nav Coin to get a better idea of who's running the company. You can find information on the team on the official Nav Coin website, and the company is based in Auckland, New Zealand.
• Future developments. The potential increase or decrease in the value of NAV will be affected by the future projects it has in the pipeline. You can find information on these projects and a project roadmap on the NAV website. For example, at the time of writing, the company was working on NavTech Polymorph. This project is designed to combine NavTech’s anonymous transactions with Changelly’s instant exchange service, with the aim of allowing people to send more than 25 cryptocurrencies anonymously.
• Competition. Another factor that could affect the value of NAV is competition from other privacy coins. Examples of other cryptocurrencies operating in this space include Verge, Monero, Dash and Zcoin.

FAQs

• Can I buy Nav Coin (NAV) with my credit card?

  No. There is currently no way to buy NAV directly with your credit card or debit card in Australia

• How do I earn interest on my Nav Coins?

  You can earn up to 5% interest simply by switching your wallet to staking mode.

• What is proof of stake?

  The Nav Coin network is secured by proof-of-stake consensus. This means that in order to own NAV, you first need to join the network.