How to buy Tomb (TOMB) in Australia
Learn how to buy Tomb (TOMB) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy Tomb
1. Compare crypto exchanges
The easiest way to buy Tomb 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.
2. 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.
3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – cryptocurrency and epay payments are widely accepted.
4. Buy Tomb
You can now exchange your funds for Tomb. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your Tomb to your personal wallet.
Where to buy Tomb in Australia
Find an exchange to buy, sell and trade TOMB by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Tomb
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Tomb.
- Compare cryptocurrency exchanges that support TOMB.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Tomb.
- Buy Tomb.
Complete your Tomb purchase and then find the best wallet to store TOMB.
What to consider when buying Tomb
Cryptocurrencies are both complicated and speculative. Buying any crypto coin or token comes with a high level of risk. It’s essential that you’re fully aware of all the risks involved before you decide to buy. If you’re thinking of purchasing TOMB, make sure you consider the following factors:
- Linked to the price of FTM: Being arithmetically pegged to FTM means that any changes that occur to the price of FTM affect the price of TOMB. As a result, a potential investor of TOMB should become comfortable with the associated Fantom blockchain ecosystem and how well the blockchain can compete against other layer-1s. If a user is not planning to stake TOMB through the Tomb Finance protocol, investing directly in FTM could be an alternative option.
- Reliance on the peg: With no collateral supporting the FTM:TOMB peg, algorithms are deployed by Tomb Finance to keep the price stable. Losing the peg to FTM, which has happened to the protocol at least once before, could reduce confidence that the token will mirror the price of FTM during volatile times. If there is a lack of confidence in the protocol's capabilities, adoption of the TOMB token may fall.
- TVL on Fantom Opera network: TOMB was designed to become a secondary medium of exchange within the Fantom network. If the total value locked (TVL) decreases within the Fantom network, TOMB may not be necessary for transactions. If there is less FTM being held in smart contracts or by dApps, there will be less need for TOMB.
- FTM emissions: As FTM is released into the network via emissions from staking, which therefore increase circulation supply, TOMB may have less of a use-case. FTM tokens will need to be purchased or locked into smart contracts for TOMB to become required once more.
- Fantom politics: TOMB has seen significant drama since September 2021, with successful entrepreneur Harry Yeh taking over the reins at Tomb Finance after an exploit nearly drove the price of TOMB to zero. The year 2022 saw the controversial launch of copycat projects 2OMB and 3OMB, which were first lambasted by Yeh and eventually embraced. The recent sudden exit by Fantom co-founder Andre Cronje from all his DeFi projects has resulted in a spectacular collapse in the price of both Fantom and related projects like TOMB in March 2022, with the latter shedding nearly half its value. A potential investor should pay close attention to the unfolding politics within the Fantom ecosystem.
How to sell Tomb
You can cash out your TOMB with the same exchange you bought it through:
- Sign in to the exchange you have TOMB on.
If you store your Tomb in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of TOMB you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Tomb.
Disclaimer: Cryptocurrencies, including Tomb, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of TOMB 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 Tomb or any other cryptocurrency discussed.
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