How to buy XSGD (XSGD) in Australia
Learn how to buy XSGD (XSGD) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy XSGD
1. Compare crypto exchanges
The easiest way to buy XSGD 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 – credit card, cryptocurrency, paypal and transferwise payments are widely accepted.
4. Buy XSGD
You can now exchange your funds for XSGD. 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 XSGD to your personal wallet.
Where to buy XSGD in Australia
Find an exchange to buy, sell and trade XSGD 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 XSGD
Look for an exchange that supports both fiat and cryptocurrency to simplify buying XSGD.
- Compare cryptocurrency exchanges that support XSGD.
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 XSGD.
- Buy XSGD.
Complete your XSGD purchase and then find the best wallet to store XSGD.
What to consider when buying XSGD
As with any investment, it is vital you understand the risks and potential upside of the asset before making any financial decision. With regards to XSGD, here are a few things to consider:
- XSGD’s use case: The purpose of XSGD is to offer a stable digital asset that tracks the true value of the Singapore dollar. The stability of XSGD offers a digital asset that removes the volatility of the cryptocurrency markets. However, as a result of XSGD tracking the value of the Singapore dollar, investors should only purchase the coin if they wish to gain exposure to the fiat equivalent. The token should not be purchased with the expectation of long term capital gains.
- Centralised: The token is issued and backed by Xfers. It is the responsibility of Xfers to maintain XSGD’s peg to the Singapore Dollar. As Xfers holds full control of the supply of the token, any issues that occur with Xfers may result in the debasement or devaluation of the XSGD token.
- Regulatory awareness: While StratisX and Xfers is compliant with current regulations, it is impossible to tell how future governments will adapt and react to developments of digital currencies. Governments have been known to change their stance on cryptocurrencies from time to time, which may affect the usable capacity of a stablecoin like XSGD.
- Partnerships: StratisX has either partnered and integrated with leading crypto platforms and custody solutions, including BitGo, Fireblocks, Liquid, and HaloDAO. The integration of well-known custodians and security companies helps to add credibility to the project and the use of the XSGD token.
How to sell XSGD
You can cash out your XSGD with the same exchange you bought it through:
- Sign in to the exchange you have XSGD on.
If you store your XSGD in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of XSGD you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of XSGD.
Disclaimer: Cryptocurrencies, including XSGD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XSGD 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 XSGD or any other cryptocurrency discussed.
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