How to buy Position Token (POSI) in Australia
Learn how to buy Position Token (POSI) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy Position
1. Compare crypto exchanges
The easiest way to buy Position 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 – cryptocurrency, paypal, wire transfer and credit or debit card payments are widely accepted.
4. Buy Position
You can now exchange your funds for Position. 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 Position to your personal wallet.
Where to buy Position in Australia
Find an exchange to buy, sell and trade POSI 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 Position
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Position.
- Compare cryptocurrency exchanges that support POSI.
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 Position.
- Buy Position.
Complete your Position purchase and then find the best wallet to store POSI.
What to consider when buying Position
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 ICE, here are a few things to consider:
- Fully on-chain orderbook: The creation of an on-chain, high speed, low fee order book for derivatives trading could be extremely attractive for traders looking to leverage the security of blockchain technology. The Position Exchange would also not require any KYC documentation like traditional orderbook exchanges. As long as there is no disruption to trading activity, the Position Exchange could provide a suitable alternative to many traders within the industry.
- Deflationary token mechanisms: To encourage POSI adoption and price stability, the Position Exchange has implemented several deflationary mechanisms. These include a harvest lock-up period that prevents farming arbitrage bots from dumping tokens, and a buyback and burn mechanism which involves 100% of all derivative trading fees being used to purchase the POSI token from the market.
- Token distribution: The POSI token supply is capped at 100 million tokens. Of that 100 million, 80 million were kept for community allocation through either staking or farming rewards, 10 million were kept for the team and advisors, 5 million were allocated for public sales, 4 million were held for liquidity, and 1 million were allocated to airdrops. To distribute the 80 million tokens allocated to the community, 5 POSI tokens are released during every new block of the Binance Smart Chain blockchain.
How to sell Position
You can cash out your POSI with the same exchange you bought it through:
- Sign in to the exchange you have POSI on.
If you store your Position in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of POSI you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Position.
Disclaimer: Cryptocurrencies, including Position, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of POSI 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 Position or any other cryptocurrency discussed.
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