How to buy STAKE (STAKE) in Australia
Learn how to buy STAKE (STAKE) easily by following a step-by-step guide and compare 10+ crypto exchanges.
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How to buy STAKE
Look for an exchange that supports both fiat and cryptocurrency to simplify buying STAKE.
- Open an account on an exchange that supports STAKE.
Jump to our instructions to learn how to bridge — just remember that using a DEX can be complicated and may be more risky than using a CEX.
- 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 STAKE.
- Buy STAKE.
Complete your STAKE purchase and then find the best wallet to store STAKE.
What is STAKE?
xDai is essentially an Ethereum side-chain that is designed to help in the facilitation of fast yet inexpensive transactions. The protocol makes use of a proof-of-stake governance framework as well as employs a dual token model.
STAKE (STAKE) is in the top 1,000 cryptocurrencies in the world by market cap, valued at $30,002,106. The current price of STAKE is $12.6, which is -3.754% lower than yesterday. Prices have ranged between $13.15 and $12.46 over the past 24 hours. All prices are listed in US dollars and accurate as of January 17, 2022 07:01 UTC.
Where to buy STAKEIf STAKE is not available on exchanges in your local market, then you may need to use a decentralised exchange (DEX). Decentralised exchanges run on blockchains like Ethereum and allow users to trade directly with one another without the need for a middleman.
Decentralised exchanges are unregulated and run on autonomous pieces of code known as dApps. To use a dApp you interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.
- Find STAKE on a decentralised exchange and make sure STAKE can be traded for ETH which is the native asset of Ethereum. Popular DEXs include:
- Buy ETH to trade for STAKE – you can find check a list of exchanges that sell ETH.
- Transfer the ETH into a personal wallet to trade for STAKE using a web 3.0 wallet like MetaMask to connect to the DEX.
STAKE at a glance
|Total STAKE supply||8,727,252|
|All time high||US$43.00|
|Notable team members||Igor Barinov|
|Token uses||Governance, staking|
STAKE price performance over time
How to sell STAKE
You can cash out your STAKE with the same exchange you bought it through:
- Sign in to the exchange you have STAKE on.
If you store your STAKE in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of STAKE you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of STAKE.
What to consider when buying STAKEBelow are the aspects you should consider before investing in STAKE:
- Relatively cheap and fast transactions: xDai is a derivative of MakerDAO’s native stablecoin offering (i.e. DAI). When making use of xDai, users can facilitate transactions at really cheap rates — US$0.000021 per tx — within a matter of seconds.
- Strong leadership: xDai (STAKE) is the brainchild of Igor Barinov, who is also the founder of the POA Network, a project that seeks to optimize Ethereum's scalability and overall functionality. In the past, he has been associated with a number of other prominent startups such as BlockScout, Block Notary and TokenBridge.
- Operational model: Network participants who own significant amounts of the xDai token can become network validators, thus securing the platform through their efforts. Holders are also afforded the ability to participate in determining network consensus as well as stake their xDai in order to receive passive income streams.
- Staking: The xDai platform makes use of a public POSDAO and DPoS mechanism, thereby allowing any individual with enough STAKE tokens to run a node within the network.
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Disclaimer: Cryptocurrencies, including STAKE, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of STAKE 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 STAKE or any other cryptocurrency discussed.
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