How to buy OpenDAO (SOS) in Australia
Learn how to buy OpenDAO (SOS) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy OpenDAO
1. Compare crypto exchanges
The easiest way to buy OpenDAO 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.
2. 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.
3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – bank transfer, bpay, cash and cryptocurrency payments are widely accepted.
4. Buy OpenDAO
You can now exchange your funds for OpenDAO. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your OpenDAO to your personal wallet.
Where to buy OpenDAO in Australia
Find an exchange to buy, sell and trade SOS by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy OpenDAO
Look for an exchange that supports both fiat and cryptocurrency to simplify buying OpenDAO.
- Compare cryptocurrency exchanges that support SOS.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy OpenDAO.
- Buy OpenDAO.
Complete your OpenDAO purchase and then find the best wallet to store SOS.
What to consider when buying OpenDAO
Buying cryptocurrency can be a risky endeavor, but there are precautions you can take to help mitigate risk:
- Don't FOMO buy coins: Spend time researching a coin before you decide to invest, particularly if the coin's price is spiking for seemingly no reason.
- Stick with well known exchanges: Unless you're an experienced cryptocurrency trader, stick to more well known crypto exchanges to help avoid the possibility of losing your money in a scam. When possible, store your crypto on a hardware wallet instead of on an exchange.
- Look into the coin's founders and developers: Anonymous teams are often a red flag, so if you can't find details on the creator of the coin you may want to consider investing in a different cryptocurrency.
How to sell OpenDAO
You can cash out your SOS with the same exchange you bought it through:
- Sign in to the exchange you have SOS on.
If you store your OpenDAO in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of SOS you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of OpenDAO.
Disclaimer: Cryptocurrencies, including OpenDAO, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SOS 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 OpenDAO or any other cryptocurrency discussed.
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