How to buy Spendcoin (SPND) in Australia
Learn how to buy Spendcoin (SPND) in our step-by-step guide.
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You can buy Spendcoin (SPND) on a cryptocurrency exchange like Bittrex. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Spendcoin (SPND) is the digital currency that powers Spend.com’s ecosystem of products. Here's how to buy Spendcoin.
How to buy Spendcoin in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Spendcoin 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.
- 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.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – bank transfer, credit card, cryptocurrency and debit card payments are widely accepted.
- Buy Spendcoin You can now exchange your funds for Spendcoin. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Spendcoin to your personal wallet.
Where to buy Spendcoin in Australia
Find an exchange to buy, sell and trade SPND by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Spendcoin?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Spendcoin?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Spendcoin.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing SPND with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Spendcoin with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy SPND with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy SPND on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase SPND by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for SPND on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Spendcoin?
The easiest way to buy SPND is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying SPND, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Spendcoin has been performing recently.
Best Spendcoin wallets to store your SPND
You can keep your SPND on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Spendcoin a good investment?In the rapidly growing digital currency ecosystem, the scope for wallets and applications like what Spend offers is enormous. Thus, investing in the native token could seem like a lucrative opportunity. However, here are the key factors you need to be aware of before adding SPND to your portfolio:
- Spend pay technology: The protocol uses the Spend Authorisation Engine, a proprietary real-time conversion system to enable consumers and merchants to transact in digital currencies and foreign countries converted to fiat at the point of sale, using either the Spend Card or the Spend Wallet. The hassle of the conversion to fiat currencies to make a purchase becomes an effortless process for the consumer and benefits the merchant as well, by adding on as a payment option for sales.
- Wide geographical reach: SPND can be used as a payment currency at over 45 million locations worldwide, thus improving its utility for consumers who are rewarded and benefiting from the ecosystem.
- Utility of the token: In addition to being used as fiat at several points of sale, the token has immense utility within the Spend ecosystem. It can be used for a Spend Card membership, redeemed towards fees with discounts, used as collateral for a loan, and even earn enhanced referral rewards.
- Spend VIP: This is a membership rewards program created for the patrons of Spend Preferred and Spend Black, the 2 levels of Spend Cards offered. Similar to traditional credit card cashback programs, the program offers additional rewards as a percentage of spend at top retailers where the Spend Visa card is used, at a rate of up to 6%.
Additional information about Spendcoin can be found using our SPND analysis tools.
Today's Spendcoin price versus ATH
Compare today's price of Spendcoin ($0.00156389 USD) against its all-time-high price of $2.17 USD on 24 December 2018. The closer the bar is to 100%, the closer SPND is to reaching its ATH again.
ATH date: December 24, 2018
Spendcoin ATH: $2.17 USD
How to trade, convert or sell SpendcoinYou can convert or sell your SPND with the same exchange you bought it through:
- Sign in to the exchange you have SPND on.
- If you store your Spendcoin in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of SPND you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Spendcoin.
- Complete your transaction and move your SPND to a wallet for storage.
Disclaimer: Cryptocurrencies, including Spendcoin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SPND 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 Spendcoin or any other cryptocurrency discussed.
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