How to buy Sun Token (SUN) in Australia
Learn how to buy Sun Token (SUN) on 13+ crypto exchanges in our step-by-step guide.
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You can buy Sun Token (SUN) on a cryptocurrency exchange like CoinSpot. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. SUN is a new player in the decentralised finance (DeFi) world and offers a unique selling point when compared with similar platforms. Here's how to buy Sun Token.
How to buy Sun Token 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 Sun Token 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, bpay, cash and cryptocurrency payments are widely accepted.
- Buy Sun Token You can now exchange your funds for Sun Token. 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 Sun Token to your personal wallet.
Where to buy Sun Token in Australia
Find an exchange to buy, sell and trade SUN 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 Sun Token?
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 Sun Token?
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 Sun Token.
- 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 SUN 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 Sun Token with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy SUN 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 SUN 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 SUN by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for SUN on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Sun Token?
The easiest way to buy SUN 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 SUN, 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 Sun Token has been performing recently.
Best Sun Token wallets to store your SUN
You can keep your SUN 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 Sun Token a good investment?
Cryptocurrencies aren’t just volatile, they’re also highly complicated and risky purchases. With this in mind, if you’re thinking of buying any GXS, take the following into account:
- Tokenomics: There is a max supply of 100 million GXShares. 24,510,000 were distributed for the initial coin offering (ICO), 10 million are reserved for private equity, and another 5 million are allocated to the Blockcity mining pool. 9,490,000 GXS are held for community development, and finally, the vast majority of tokens (51 million) are owned by the GXS foundation.
- GXS Foundation: GXS Foundation is the team behind GXChain and responsible for development, strategy and marketing. They were allocated a large portion of the available GXS tokens to use for hiring, consulting and other business-related activities. While some investors may be wary of project developers who own the vast majority of the related tokens, the Foundation has frozen their assets so that only 5 million tokens are accessible each year. With that in mind, it is still worth researching the Foundation’s members and their relevant history.
- Use-case: GXS is the utility token of the GXChain ecosystem and is used to pay for using or running applications on the network. However, GXS can also be used as a reward (for miners and as a bug bounty), to pay for transaction or BaaS fees, and as an incentive for use of the Blockcity mobile application.
Additional information about Sun Token can be found using our SUN analysis tools.
Today's Sun Token price versus ATH
Compare today's price of Sun Token ($0.00621682 USD) against its all-time-high price of $66.45 USD on 11 September 2020. The closer the bar is to 100%, the closer SUN is to reaching its ATH again.
ATH date: September 11, 2020
Sun Token ATH: $66.45 USD
How to trade, convert or sell Sun TokenYou can convert or sell your SUN with the same exchange you bought it through:
- Sign in to the exchange you have SUN on.
- If you store your Sun Token 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 SUN you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Sun Token.
- Complete your transaction and move your SUN to a wallet for storage.
Disclaimer: Cryptocurrencies, including Sun Token, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SUN 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 Sun Token or any other cryptocurrency discussed.
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