How to buy TempleDAO (TEMPLE) in Australia
Learn how to buy TempleDAO (TEMPLE) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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Where to buy TempleDAO in Australia
Unfortunately, at this time no major exchanges in Australia offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
It looks like TEMPLE may not be available to purchase on an exchange in Australia.
You can still purchase TEMPLE by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.
Decentralised exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.
How to purchase TEMPLE using a decentralised exchange.
- Find TEMPLE on a decentralised exchange and make sure TempleDAO can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for TEMPLE using an exchange like . You will need to purchase enough ETH to swap for TEMPLE as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for TEMPLE on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalise and the TEMPLE tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in Australia.
What to consider when buying TempleDAO
It is good practice to review all aspects of a cryptocurrency and the associated platform before investing. Here are a few things to consider before purchasing TEMPLE:
- Temple Defend mechanic: TempleDAO’s network has implemented ‘Temple Defend’, a strategy used to prevent price instability. Essentially, if TEMPLE coins begin selling for too low a price on automated market makers (AMM), staked TEMPLE can be sold back to the protocol at a fixed rate. This allows investors to cheaply re-buy the TEMPLE they just sold via an AMM, resulting in an overall profit. After a while, this mechanic is intended to drive demand and push the price of TEMPLE back up.
- Metaverse: The TempleDAO platform isn’t as vanilla as other decentralised finance earning applications, as it combines elements of the metaverse with its DeFi features. Participating on the platform involves entering the temple, and accessing specific functions can only be done by navigating to their corresponding chambers. The continued development of TempleDAO’s metaverse experience may play a role in its popularity and the future price of TEMPLE.
- Low volatility: Though TEMPLE aren’t technically stablecoins, they share some similar characteristics. For instance, all TEMPLE tokens are fractionally-backed by a reserve of stablecoins. This, combined with the network’s anti-volatility mechanisms, results in a coin that is unlikely to see massive jumps in price. While this prevents drastic losses, it also prevents major gains that one might experience with an alternative cryptocurrency.
How to sell TempleDAO
You can cash out your TEMPLE with the same exchange you bought it through:
- Sign in to the exchange you have TEMPLE on.
If you store your TempleDAO in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of TEMPLE you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of TempleDAO.
Disclaimer: Cryptocurrencies, including TempleDAO, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of TEMPLE 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 TempleDAO or any other cryptocurrency discussed.
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