How to buy Offshift (XFT) in Australia

Learn how to buy Offshift (XFT) easily by following a step-by-step guide and comparing 10+ crypto exchanges.

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Where to buy Offshift in Australia

Unfortunately, at this time no major exchanges in Australia offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.

Consider buying a different cryptocurrency after comparing popular exchanges.

It looks like XFT may not be available to purchase on an exchange in Australia.

You can still purchase XFT by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

Decentralised exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.

How to purchase XFT using a decentralised exchange.
  1. Find XFT on a decentralised exchange and make sure Offshift can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for XFT using an exchange like . You will need to purchase enough ETH to swap for XFT as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for XFT on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the XFT tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in Australia.

What to consider when buying Offshift

As with any investment, it is vital you understand the risks and potential upside of the asset before making any financial decision. With regards to XFT, here are a few things to consider:

  • Focused on privacy: Privacy is one of the most important aspects for many investors, traders, and developers within the cryptocurrency industry. Any project trying to tackle issues with privacy could be attractive to a large number of users. However, Offshift is still a young project. The project’s mainnet only launched in 2022, which means the protocol has not yet stood the test of time. Potential investors should stay up to date to check that operations are running smoothly.
  • Competition: There are a few other projects focused on the privacy aspects of decentralised finance. Offshift will need to execute the project’s vision well to compete with similar projects such as Haven. XFT investors may wish to compare Offshift with Haven to see which offers the best potential for the future.
  • Ethereum and Polkadot compatible: Rather than develop a native blockchain to complete the synthetic asset generation, Offshift has opted for development within both Ethereum and the EVM-compatible Moonbeam blockchain, which is a parachain on Polkadot. This means that users have the ability to choose which blockchain ecosystem they would prefer to use Offshift with. The protocol also leverages the decentralised data oracle Chainlink for real-world pricing.
  • Elastic supply: While the maximum supply of XFT is capped at 10 million. The circulating supply is elastic and is, therefore, constantly fluctuating. The supply balances to adjust for margin calls and liquidations.
  • Anonymous backing team: In accordance with the projects privacy believes the team behind Offshift have chosen to remain anonymous. Although the team is available for discussions within all social media channels, an anonymous backing team can often be uncomfortable for some investors.

How to sell Offshift

You can cash out your XFT with the same exchange you bought it through:

  1. Sign in to the exchange you have XFT on.
    If you store your Offshift in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of XFT you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Offshift.

Disclaimer: Cryptocurrencies, including Offshift, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XFT 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 Offshift or any other cryptocurrency discussed.

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