How to buy Sushi (SUSHI) in Australia
Learn how to buy Sushi (SUSHI) on 24+ crypto exchanges in our step-by-step guide.
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You can buy Sushi (SUSHI) on a cryptocurrency exchange like Digital Surge. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. SushiSwap is a decentralised finance (DeFi) platform that incentivises users for providing liquidity to its native fund pools. Here's how to buy Sushi.
How to buy Sushi 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 Sushi 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, POLi and Osko payments are widely accepted.
- Buy Sushi You can now exchange your funds for Sushi. 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 Sushi to your personal wallet.
Where to buy Sushi in Australia
Find an exchange to buy, sell and trade SUSHI 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 Sushi?
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 Sushi?
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 Sushi.
- 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 SUSHI 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 Sushi with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy SUSHI 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 SUSHI 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 SUSHI by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for SUSHI on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Sushi?
The easiest way to buy SUSHI 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 SUSHI, 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 Sushi has been performing recently.
Best Sushi wallets to store your SUSHI
You can keep your SUSHI 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.
Recent Sushi developments
December 2021: Key Avalanche (AVAX) developer Daniele Sestagalli launched a set of proposals focused on a SushiSwap handover.
Is Sushi a good investment?Below are the aspects you should consider before investing in SUSHI:
- KYC-free model: SushiSwap is a completely permissionless protocol, which basically means that anyone can make use of the platform by contributing liquidity to its native fund pools in a private, secure manner. While this may seem highly attractive on paper, a lack of know-your-customer (KYC) protocols can potentially leave one’s funds susceptible to certain third-party intrusions.
- Passive income possibilities: Much like a host of other DeFi platforms in existence today, SushiSwap allows users to draw a steady stream of passive income in lieu of them providing funds to the protocol’s native fund pools. Rewards are doled out in the form of Sushi tokens, which can later be exchanged for Ether if one so wishes to do so. In terms of the incentives that are currently on offer, a fixed 0.25% of all transactions facilitated across the platform are provided to liquidity providers while 0.05% of each tx is converted back to SUSHI and given as a reward to token holders.
- Governance framework: As pointed out earlier, SUSHI tokens are provided to liquidity providers for their efforts. These tokens can be staked in exchange for SLP tokens, the base currency that is used for the overall governance and administration of the platform.
- DeFi risks: In the past, there have been certain rug pull scams as well as cases of hackers draining funds from smart contracts in relation to certain DeFi projects. While SushiSwap has been audited by reputable firms, a total of 10 issues have previously been detected in relation to the platform. These problems do not appear to be critical but they do point to the fact that users have to be cautious and do their own research before supplying their funds to such liquidity protocols.
Additional information about Sushi can be found using our SUSHI analysis tools.
Today's Sushi price versus ATH
Compare today's price of Sushi ($1.014 USD) against its all-time-high price of $23.38 USD on 13 March 2021. The closer the bar is to 100%, the closer SUSHI is to reaching its ATH again.
ATH date: March 13, 2021
Sushi ATH: $23.38 USD
How to trade, convert or sell SushiYou can convert or sell your SUSHI with the same exchange you bought it through:
- Sign in to the exchange you have SUSHI on.
- If you store your Sushi 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 SUSHI you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Sushi.
- Complete your transaction and move your SUSHI to a wallet for storage.
Disclaimer: Cryptocurrencies, including Sushi, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SUSHI 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 Sushi or any other cryptocurrency discussed.
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