How to buy Phantasma (SOUL) in Australia

How to buy Phantasma

1. Compare crypto exchanges

The easiest way to buy Phantasma 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 Phantasma

You can now exchange your funds for Phantasma. 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 Phantasma to your personal wallet.

Where to buy Phantasma in Australia

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

Sort by:

Name	Product	Deposit methods	Fiat Currencies	Cryptocurrencies
CoinSpot Cryptocurrency Exchange 4.3★★★★★(297)		Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID	AUD	364 cryptocurrencies	CoinSpot lets you buy, sell and swap 100s of cryptos from its simple-to-use desktop or app trading accounts.	Go to site View details	Compare	loading Fetching your data...
KuCoin Cryptocurrency Exchange ★★★★★(0)		Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA	USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more	558 cryptocurrencies	Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit\/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply. Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.	Go to site View details	Compare	loading Fetching your data...
Hotbit Cryptocurrency Exchange ★★★★★(0)		Cryptocurrency, Epay	USD	1029 cryptocurrencies	A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.	View details	Compare	loading Fetching your data...

loading

Compare up to 4 providers

Clear selection

Compare

What to consider when buying Phantasma

Altcoins can be extremely risky investments. As a result, all aspects of both the cryptocurrency and associated protocol should be thoroughly evaluated. Here are a few important considerations to take into account before investing in SOUL:

• Staking to earn free transactions: Token holders can stake SOUL to earn rewards paid in KCAL. This enables holders to earn passive income on top of speculating on the price of the asset. Accumulating KCAL also means that all transactions completed within the ecosystem become free. Innovatively, Phantasma also has a unique staking feature that allows users to direct staking rewards to a different wallet, thereby enabling people to easily introduce their family and friends to the ecosystem.
• Inflation: SOUL has a yearly inflation of approximately 4.5%. This includes a yearly 3% inflation plus 125,000 SOUL that are distributed as monthly rewards. Interestingly, the token’s entire supply is already circulating, which reduces the risk of a large volume of tokens hitting the market in the future. Additionally, the inextricable link between Phantasma’s two tokens prevents devaluation, as the supply of KCAL is correlated to the number of SOUL stakers (network participants) in the ecosystem.
• Small ecosystem: While the protocol was launched in 2018, the ecosystem has not experienced as many users and developer adoption as other competing layer-1 blockchains. However, this also means that there could be a high potential for growth.
• Decentralised storage: As part of Phatasma’s decentralised storage solution, token holders are granted 40 kilobytes worth of storage for each SOUL staked within the ecosystem. Staking SOUL token is the only way to access decentralised storage on Phantasma. While not a requirement for everyone, having access to decentralised storage is an additional perk not offered by many other competing layer-1 blockchains.
• Multi-chain support: The Phantasma protocol is compatible with Ethereum, Neo, and the Binance Smart Chain. SOUL and other Phantasma-native tokens can be transferred to these blockchains to leverage the larger ecosystems that they host. This enables Phastama users to participate and enjoy the benefits of decentralised finance (DeFi) and other crypto-related decentralised applications (dApps).
• Scalability: In addition to interoperability, the Phantasma Chain can process 5,000 tps, which is approximately 333 times faster than Ethereum. High transaction throughput is attractive to both users and developers looking to build dApps within the ecosystem. The more dApps built within Phantasma, the higher the demand will likely be for SOUL.
• Security:The network has, so far, not suffered a security breach, which is encouraging to see. However, Phantasma’s network is relatively small in comparison to giants like Ethereum, Solana, and Cardano, which could make it easier to perform a 51% attack. Furthermore, it utilises oracles to bridge to different networks, which could pose additional vulnerabilities.

How to sell Phantasma

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

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