How to buy Sifchain (EROWAN) in Australia
Learn how to buy Sifchain (EROWAN) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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Where to buy Sifchain 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 EROWAN may not be available to purchase on an exchange in Australia.
You can still purchase EROWAN 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 EROWAN using a decentralised exchange.
- Find EROWAN on a decentralised exchange and make sure Sifchain can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for EROWAN using an exchange like . You will need to purchase enough ETH to swap for EROWAN 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 EROWAN 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 EROWAN 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 Sifchain
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 eROWAN, here are a few things to consider:
- Relationship between eROWAN and ROWAN: eROWAN is the Ethereum-based equivalent of the native ROWAN token. While ROWAN exists on the Sifchain and, therefore, within the Cosmos ecosystem, eROWAN is the coin’s equivalent developed for the Ethereum blockchain. eROWAN can be swapped 1:1 for ROWAN using the protocol’s bridging mechanism. All eROWAN coins need to be converted to ROWAN to access the native cryptocurrency benefits such as staking and voting rights within the SifDAO.
- Solving a clear problem: By focusing on interoperability Sifchain is aiming to tackle one of the key issues that plague the cryptocurrency industry. If Sifchain can execute its vision well, the project has a chance of capturing market share within the interoperability niche.
- Competition: Although tackling a clear problem, there are several other projects looking to tackle issues faced by interoperability and the exchange of digital assets. Sifchain will need to continually innovate to stay ahead of competing protocols. Future investors should pay close attention to the integration of Sifchain with other layer-1 blockchains such as Avalanche, Polygon, and Terra.
How to sell Sifchain
You can cash out your EROWAN with the same exchange you bought it through:
- Sign in to the exchange you have EROWAN on.
If you store your Sifchain in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of EROWAN you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Sifchain.
Disclaimer: Cryptocurrencies, including Sifchain, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of EROWAN 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 Sifchain or any other cryptocurrency discussed.
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