How to buy VideoCoin (VID) in Australia

A beginner's guide to buying and selling VID in Australia.

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How to buy VideoCoin

Look for an exchange that supports both fiat and cryptocurrency to simplify buying VideoCoin.

  1. Open an account on an exchange that supports VID.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. 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 VideoCoin.
  3. Buy VideoCoin.
    Complete your VideoCoin purchase and then find the best wallet to store VID.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is VideoCoin?

VideoCoin is a blockchain-based protocol that intends to revolutionise the way in which we consume, encode, store and present videos online. By drawing data and computing power from unused resources across the VideoCoin community, this network will lower encoding costs and times, enable algorithmic distribution of content and allow for easy integration with dApps and NFTs. As of July 2021, NFT compatibility has become a major aspect of VideoCoin’s development goal. The issue of online privacy and licence attribution has been a major debate over the past decade, with artists and content creators scrambling to ensure their works are properly protected and secure. VideoCoin wants to bring a new slant to the NFT era. By allowing TikTok memes, YouTube videos, or even CCTV footage to be minted, creators will be able to verify their work and prevent theft. VID is the native token of the VideoCoin network and is used for staking, or minting NFTs and apps. Furthermore, VID coins are pivotal for the allocation of unused resources – community members who wish to delegate their processing power to video encoding are rewarded in VID coins. Conversely, those who wish to use the blockchain’s encoding system will pay fees using VID.

VideoCoin (VID) is the 449th largest cryptocurrency in the world by market cap, valued at $85,475,594. The current price of VideoCoin is $0.55167, which is -8.897% lower than yesterday. Prices have ranged between $0.608179 and $0.549029 over the past 24 hours. All prices are listed in US dollars and accurate as of September 20, 2021 11:09 UTC.

Where to buy VideoCoin

Find an exchange to buy, sell and trade VID by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

255
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

279
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
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VideoCoin at a glance

Information last updated September 20, 2021 11:09 UTC.
Coin symbolVID
Total VID supply265,000,000
Circulating VID154,939,646
Current priceUS$0.55167
All time highUS$1.05
All time high dateApril 01, 2021

VideoCoin price performance over time

Historical prices compared with the price of US$0.55167.

1 hour -0.74%
24 hours -8.90%
7 days -5.72%
14 days 5.42%
30 days 66.38%
60 days 186.27%
200 days 250.10%
1 year 646.86%

How to sell VideoCoin

You can cash out your VID with the same exchange you bought it through:

  1. Sign in to the exchange you have VID on.
    If you store your VideoCoin in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of VID you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of VideoCoin.

What to consider when buying VideoCoin

As with any investment, it is vital that you perform due diligence before adding it to your portfolio. When it comes to VideoCoin, here are a few things worth considering:
  • Staking. To get the most out of VID investments, it’s a good idea to consider whether you are interested in staking tokens or providing your unused CPU cycles to the network. These processes can be a little complex for beginners, and staking (particularly delegating) comes with the potential risk of losing your entire investment.
  • Competition. Blockchain-based, peer-to-peer video encoding and streaming services are becoming quite popular on the decentralised marketplace. Networks like Livepeer, Tangram and Theta all sit within this development sphere and will compete with VideoCoin for market share.
  • Tokenomics. As of July 2021, 152 million of VID’s lifetime token supply of 265 million are in circulation. 76% of the uncirculating supply is locked up in the network to provide extra security. VideoCoin’s developers are also focused on providing validators with staking rewards protected from inflation. In 2019, 70% of the original token supply (617 million) was burned to prevent inflation and loss of worth.

Disclaimer: Cryptocurrencies, including VideoCoin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of VID 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 VideoCoin or any other cryptocurrency discussed.

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