How to buy Opium (OPIUM) in Australia
Learn how to buy Opium (OPIUM) easily by following a step-by-step guide and compare 10+ crypto exchanges.
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How to buy Opium
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Opium.
- Open an account on an exchange that supports OPIUM.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- 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 Opium.
- Buy Opium.
Complete your Opium purchase and then find the best wallet to store OPIUM.
What is Opium?
OPIUM is the native governance token of the Opium Exchange. The platform offers DeFi derivative products such as ETH futures, gas options and synthetic pre-markets for upcoming DeFi tokens. Opium allows users to create, settle and trade virtually any decentralised derivative on Ethereum. The best use case for the platform is the ability to create a portfolio with several tokens that are represented by a single token. Derivatives contracts on the platform can only be executed upon maturity as with any traditional derivative contract. However, once the portfolio (composed of several tokens) is stored in the user’s balance, it can either be traded on secondary markets as a single token, thereby saving gas cost, or it can be transferred to a wallet. The platform requires you to provide collateral (margin), such as a stablecoin or ERC-20 token, to insure the buyer in case of default.
Opium (OPIUM) is the 1230th largest cryptocurrency in the world by market cap, valued at $10,710,035. The current price of Opium is $1.38, which is -2.597% lower than yesterday. Prices have ranged between $1.42 and $1.37 over the past 24 hours. All prices are listed in US dollars and accurate as of January 17, 2022 07:01 UTC.
Where to buy Opium
Find an exchange to buy, sell and trade OPIUM by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Opium at a glance
|Total OPIUM supply||100,000,000|
|All time high||US$23.01|
|Notable team members||Andrey Belyakov, Arjan van der Kooij|
|Partnerships||AAVE, Chainlink, the graph, Zerion, DeBank, SmartDec, DEFI PULSE, DeFi Rate|
|Industry||Decentralised derivatives trading|
Opium price performance over time
How to sell Opium
You can cash out your OPIUM with the same exchange you bought it through:
- Sign in to the exchange you have OPIUM on.
If you store your Opium in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of OPIUM you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Opium.
What to consider when buying OpiumCryptocurrencies are highly volatile assets that come with a number of risks. Before you make an investment decision, it is essential to understand the factors that could impact the price of the cryptocurrency. You may want to consider the following before investing in OPIUM:
- Simplicity of use: The user is only required to choose the ticker (instrument) they want to trade, and the rest is managed by the ecosystem, which creates the contract and trades until the expiration of the contract.
- Controlled risk: As the user provides collateral in the form of margin for the contract, the risk and return are capped based on the fixed initial margin until the derivative contract matures. This mitigates tail risk for users and makes the instruments dynamic as they can be designed to suit different risk appetites.
- Trading risk: The user must be cautious as sometimes the ticker can be corrupted. You may want to stick to the tickers created by notable projects, which can be easily found on the “Derivative Explorer” page. The most popular derivative products have already been created by Opium, including futures, options and collateral debt swaps (CDS).
- Opium insurance: The platform also offers tradable insurance to insure against smart-contract hacking or against a stablecoin default. The insurance can be bought or sold at any time as per the user’s need.
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Disclaimer: Cryptocurrencies, including Opium, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of OPIUM 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 Opium or any other cryptocurrency discussed.
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