How to buy Somnium Space CUBEs (CUBE) in Australia
Learn how to buy Somnium Space CUBEs (CUBE) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy Somnium Space CUBEs
1. Compare crypto exchanges
The easiest way to buy Somnium Space CUBEs 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 – debit card, wire transfer and cryptocurrency payments are widely accepted.
4. Buy Somnium Space CUBEs
You can now exchange your funds for Somnium Space CUBEs. 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 Somnium Space CUBEs to your personal wallet.
Where to buy Somnium Space CUBEs in Australia
Find an exchange to buy, sell and trade CUBE 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 Somnium Space CUBEs
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Somnium Space CUBEs.
- Compare cryptocurrency exchanges that support CUBE.
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 Somnium Space CUBEs.
- Buy Somnium Space CUBEs.
Complete your Somnium Space CUBEs purchase and then find the best wallet to store CUBE.
What to consider when buying Somnium Space CUBEs
The metaverse is an exciting direction for blockchain tech, but it is still relatively new and its associated tokens are subject wild price volatility and various risks. Due diligence on both the Somnium Space platform and its tokenomics should always be completed. Here are some things to consider before purchasing CUBE:
- Tokenomics. CUBE is an ERC-20 token that is vital to the operation of the Somnium Space metaverse. There is a max supply of 100M CUBE, 60M of which have been locked into the metaverse for in-game rewards.
- In-game features. Somnium Space participants can also earn CUBE through good karma. Karma is an in-game mechanic that is justified by three criteria – ratings, engagement and other factors. Ratings are a peer-to-peer system where characters can assign a score to other players. Engagement is based on how much CUBE a player has already spent/earnt, as well as the amount of time they’ve spent gaming. Finally, karma can be earned by participating at a fundamental level by organising events and creating VR experiences.
- Other economy tokens. Somnium Space has expanded the utility of CUBE by adding two additional tokens – PARCELs and AVATARs. PARCELs are essentially deeds, and must be purchased to buy land on the metaverse. Players can even embed NFTs into their PARCEL and bring it to life in the Somnium world. Conversely, AVATARs are used to create interactable characters that can be planted within Somnium Space. Additionally, these AVATARs can be sold on external marketplaces and even dropped into other metaverses.
How to sell Somnium Space CUBEs
You can cash out your CUBE with the same exchange you bought it through:
- Sign in to the exchange you have CUBE on.
If you store your Somnium Space CUBEs in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of CUBE you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Somnium Space CUBEs.
Disclaimer: Cryptocurrencies, including Somnium Space CUBEs, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of CUBE 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 Somnium Space CUBEs or any other cryptocurrency discussed.
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