How to buy Polkaswap (PSWAP) in Australia
Learn how to buy Polkaswap (PSWAP) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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Where to buy Polkaswap 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 PSWAP may not be available to purchase on an exchange in Australia.
You can still purchase PSWAP 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 PSWAP using a decentralised exchange.
- Find PSWAP on a decentralised exchange and make sure Polkaswap can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for PSWAP using an exchange like . You will need to purchase enough ETH to swap for PSWAP 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.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for PSWAP on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalise and the PSWAP tokens will arrive in your wallet.
- 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 Polkaswap
Cryptocurrencies are highly speculative assets that come with a range of risks. It is, therefore, crucial to fully evaluate both a token and its associated protocol or application. Before investing in PSWAP here are a few factors to consider:
- Built for Polkadot and Kusama:Polkaswap is aiming at bridging all blockchains within the Polkadot and Kusama ecosystems. Polkadot is a popular layer-0 network for the deployment of other blockchains. As a result, it is becoming a key component in the Web3 space. However, the success of both Polkadot and Kusama will need to continue for the future success of Polkaswap. Any issues with either Polkdot or Kusama could deter users from utilising Polkswap.
- Competitive market: There has been a significant increase in the number of protocols that aim to bridge different blockchain networks. The industry is also abundant with protocols that offer cross-chain swaps through automated market makers. The saturation of the market may hinder Polkaswap’s reach. With that being said, its initial focus on the Polkadot and Kusama ecosystems could allow this project to fulfil a unique solution within a growing cryptocurrency environment.
- Recipient of Web3 foundation grant: The Web3 foundation is one of the most reputable platforms in the industry for kickstarting projects that showcase real world solutions. Polkaswap received a grant from the organisation, which is a strong example that the project has garnered respect from others within the cryptocurrency industry. Although not a guarantee, other Web3 foundation projects have done extremely well, and are among the most popular protocols in the space.
- Burning mechanism: 0.3% from every swap completed via the Polkaswap DEX is used to buyback PSWAP tokens which are subsequently burned. 90% of the burned token supply are then distributed to liquidity providers of the platform. This figure is set to drop to 35% after the first 5 years.
How to sell Polkaswap
You can cash out your PSWAP with the same exchange you bought it through:
- Sign in to the exchange you have PSWAP on.
If you store your Polkaswap in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of PSWAP you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Polkaswap.
Disclaimer: Cryptocurrencies, including Polkaswap, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of PSWAP 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 Polkaswap or any other cryptocurrency discussed.
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