eCash (XEC) is in the top 1,000 cryptocurrencies by market cap, valued at US$745,077,238.
eCash is a highly volatile asset capable of major price swings in a single day. Today XEC is trading for $0.00003767 USD, which is lower than yesterday's trading price of $0.0000393899 USD. Over the past year, eCash's price has seen an increase of 14%.
So before you buy eCash, make sure you understand these unique risks as well as its legal and tax status here in
Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy eCash.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy eCash in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy eCash 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.
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.
Make a deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy eCash
You can now exchange your funds for eCash. On beginner-friendly exchanges, this is as simple as entering the AUD or XEC amount you want to purchase and clicking "buy".
Secure your eCash
Consider transferring your XEC to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy eCash in
Australia
Find an exchange to buy, sell and trade XEC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this eCash guide up-to-date
XEC price data is regularly updated through data feeds so you always have the latest information.
What is eCash?
eCash is the rebranded iteration of Bitcoin Cash ABC (itself a Bitcoin hard fork) that made its way into the market a while ago (even though the renaming took place in 2021). As the name suggests, the currency markets itself as an asset that can be used as electronic cash, allowing it to facilitate monetary transactions for everyday goods and services.
The platform features a base transaction unit — referred to as 'bits' — which can be used to replace higher amounts associated with Bitcoin Cash ABC. According to CoinmarketcapCoinmarketcap 0.00001000 BTC is equal to 10 bits worth of eCash.
How do I find the best places to buy eCash?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in
Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy eCash?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading eCash.
This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing XEC with your local currency then you will need to pass KYC.
Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy eCash?
Once you've created an account, you will need to deposit funds to buy XEC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy XEC:
Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
Cryptocurrency: You can usually purchase XEC by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for XEC on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy eCash?
The easiest way to buy XEC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying XEC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of eCash has been performing recently.
Best eCash wallets to store your XEC
You can keep your XEC on the exchange you purchased it on, or move it to a personal wallet:
Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your XEC below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is eCash a good investment?
XEC, is the native asset of the eCash ecosystem and is used to facilitate a wide range of transactions taking place across the platform. In this section we will look at some core aspects of the digital currency:
Novel consensus framework: As per the official project website project website. eCash makes use of a unique proof-of-stake (PoS) consensus layer referred to as Avalanche — not to be confused with the blockchain project of the same name — that allows it process transactions at a high level of efficiency while providing users with a lot of privacy related benefits.
Seamless conversions: Since its rebranding, eCash has allowed all of its users to convert their existing BCHA coins to XEC in a ratio of one is to one million (1:1,000,000), thereby making voluminous Bitcoin Cash ABC transactions extremely simple and streamlined.
Anonymity and immutabilityAnother core aspect of the project is that it ensures complete anonymity in relation to all its transactions while also providing users with amazing immutability. Not only that, these transfers are almost free of cost with finality being provided within a matter of three seconds or less.
Solid backing team: The eCash project is helmed by its tech lead, industry veteran Amaury Sechet, who was also responsible for creation of Bitcoin Cash, one of the most popular digital currencies available in the market today.
Today's eCash price versus ATH
Compare today's price of eCash ($0.00003767 USD) against its all-time-high price of $0.00038001 USD on 04 September 2021. The closer the bar is to 100%, the closer XEC is to reaching its ATH again.
eCash's price: $0.00003767 USD ATH date: September 04, 2021
9.91%
eCash ATH: $0.00038001 USD
How to trade, convert or sell eCash
You can convert or sell your XEC with the same exchange you bought it through:
Disclaimer: Cryptocurrencies, including eCash, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XEC 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 eCash or any other cryptocurrency discussed.
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