How to buy Strike (STRK) in Australia
Learn how to buy Strike (STRK) in our step-by-step guide.
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You can buy Strike (STRK) on a cryptocurrency exchange like OKX. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. STRK is the native governance and utility token of Strike, a decentralised finance (DeFi) platform, launched by Spend.com. Here's how to buy Strike.
How to buy Strike 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 Strike 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, cryptocurrency, ideal and PayPal payments are widely accepted.
- Buy Strike You can now exchange your funds for Strike. 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 Strike to your personal wallet.
Where to buy Strike in Australia
Find an exchange to buy, sell and trade STRK 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 Strike?
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 Strike?
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 Strike.
- 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 STRK 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 Strike with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy STRK 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 STRK 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 STRK by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for STRK on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Strike?
The easiest way to buy STRK 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 STRK, 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 Strike has been performing recently.
Best Strike wallets to store your STRK
You can keep your STRK 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 Strike a good investment?While investing in cryptocurrencies often seems like a lucrative and profitable opportunity, it is important to remember that they are highly volatile and risky assets. Thus, here are the factors you must keep in mind before investing your funds in STRK:
- Supply. The token has a maximum supply of 6.54 million. The initial supply at launch was 3 million. The remaining 3.5 million are now being mined by users through liquidity farming incentives on the platform.
- sTokens. The protocol can mint new tokens that are pegged to an underlying asset. These are referred to as sTokens, for example, sUSDT, which is pegged to Tether (USDT). The purpose of sTokens is to denote the proportional value of the underlying asset deposited within the Strike ecosystem. The underlying asset can be redeemed at any given time. sTokens are fully transferable across Ethereum wallets and applications.
- Yields. To ensure the functioning of Strike is autonomous, there is a yield curve rate mechanism that dictates the supply and borrowing rates. It is based on the supply and demand of tokens listed on the platform.
- Collateral and reserve factors. Each digital asset market has a collateral factor and reserve factor that are initially set by smart contracts and then controlled by a governance process. The collateral factor dictates how much a user can borrow against how many digital assets a user holds as collateral. Similarly, the reserve factor calculates a small percentage fee charged to stay within the protocol. This is held to ensure protocol security and upkeeping.
Additional information about Strike can be found using our STRK analysis tools.
Today's Strike price versus ATH
Compare today's price of Strike ($17.6 USD) against its all-time-high price of $105.33 USD on 12 April 2021. The closer the bar is to 100%, the closer STRK is to reaching its ATH again.
ATH date: April 12, 2021
Strike ATH: $105.33 USD
How to trade, convert or sell StrikeYou can convert or sell your STRK with the same exchange you bought it through:
- Sign in to the exchange you have STRK on.
- If you store your Strike 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 STRK you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Strike.
- Complete your transaction and move your STRK to a wallet for storage.
Disclaimer: Cryptocurrencies, including Strike, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of STRK 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 Strike or any other cryptocurrency discussed.
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