Immutable (IMX) is the 62nd largest cryptocurrency by market cap, valued at US$2,459,289,360.
Immutable is a highly volatile asset capable of major price swings in a single day. Today IMX is trading for $1.45 USD, which is lower than yesterday's trading price of $1.49 USD. Over the past year, Immutable's price has seen a decrease of -39%.
So before you buy Immutable, 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 Immutable.
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 Immutable 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 Immutable 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 Immutable
You can now exchange your funds for Immutable. On beginner-friendly exchanges, this is as simple as entering the AUD or IMX amount you want to purchase and clicking "buy".
Secure your Immutable
Consider transferring your IMX 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 Immutable in
Australia
Find an exchange to buy, sell and trade IMX 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 Immutable guide up-to-date
IMX price data is regularly updated through data feeds so you always have the latest information.
What is Immutable?
Immutable X or IMX, is the native cryptocurrency of the layer-2 Immutable X protocol. The Immutable X protocol is focused on providing a layer-2 scaling solution to the NFT ecosystem, which is predominantly located on the Ethereum blockchain. Utilising STARK zk-rollup technology, Immutable X aims to help ease the transactional woes that come from NFT exchanges on Ethereum. Alongside roll-up technology, the protocol employs proof logic to facilitate an NFT-specific exchange.
According to project's website, Immutable X is the first layer-2 protocol developed specifically for NFTs. Users can enjoy feeless transactions, up to 9000 transactions per second (tps) and high-performance minting. Developed as a side-chain, while transactions take place on Immutable X, all transactions remain secured by the Ethereum blockchain. Alongside the sidechain Immutable X has developed its own NFT marketplace, which allows users to swap and exchange a wide range of NFTs. The native minting platform also provides users with the ability to create and distribute NFTs on a massive scale by charging no minting fees. The ecosystem does not levy any gas charges that are generally quite high on Ethereum and all NFTs minted can be readily traded on the free market without any operative restrictions. IMX is the native utility token of the Immutable X protocol. 20% of all transaction fees on the Immutable X chain must be paid with IMX coins. If a user does not hold IMX, IMX can be purchased by the blockchain on the user's behalf and then converted. All transaction fees collected in IMX are collected in the staking pool, which is shared among all those staking IMX to support the ecosystem. IMX also allows token holders to vote on future governance proposals.
How do I find the best places to buy Immutable?
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 Immutable?
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 Immutable.
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 IMX 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 Immutable?
Once you've created an account, you will need to deposit funds to buy IMX 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 IMX:
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 IMX by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for IMX on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Immutable?
The easiest way to buy IMX 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 IMX, 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 Immutable has been performing recently.
Best Immutable wallets to store your IMX
You can keep your IMX 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 IMX below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Immutable a good investment?
IMX is the native crypto token of the NFT-focused layer-2 solution, Immutable X. Like all altcoins, it is subject to high volatility and, therefore, should be thoroughly researched. Here are a few factors to consider before investing in this project:
Offers unparalleled levels of scalability: Immutable X's native engine allows users to process over 9,000 transactions per second (tps), which is nearly six hundred times more than what Ethereum is able to offer at the moment. The additional transactional speed and, therefore, lower fees could be attractive to a large percentage of the NFT community.
Solid security and privacy: Unlike many sidechain systems that tend to offer a high throughput rate but sacrifice platform security and privacy in the process, Immutable X is completely decentralized and thus cannot fall victim to 51% attacks. The ecosystem utilises 'zero-knowledge proofs', thereby allowing clients to verify and withdraw their assets at will. A high focus on security should help to encourage user adoption.
Zero gas fee: One of the biggest issues surrounding NFT minting platforms built on top of the Ethereum network is high gas fees. However, Immutable X removes all such economic constraints. Immutable X can allow all types of users to become active within the NFT sector.
Offers a carbon-neutral NFT solution: An underrated facet of the platform is that all of the NFTs traded via Immutable X are completely carbon neutral. This has been certified by two separate climate change agencies including Trace and Cool Effect. The idea of a carbon-neutral NFT exchange could prove to be extremely popular among users in the cryptocurrency community.
Today's Immutable price versus ATH
Compare today's price of Immutable ($1.45 USD) against its all-time-high price of $9.52 USD on 26 November 2021. The closer the bar is to 100%, the closer IMX is to reaching its ATH again.
Immutable's price: $1.45 USD ATH date: November 26, 2021
15.23%
Immutable ATH: $9.52 USD
How to trade, convert or sell Immutable
You can convert or sell your IMX with the same exchange you bought it through:
Sign in to the exchange you have IMX on.
If you store your Immutable in a digital wallet, compare crypto exchanges to convert or sell it on.
Choose Sell or Convert and place a sell order.
Choose the amount of IMX you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Immutable.
Complete your transaction and move your IMX to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Immutable, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of IMX 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 Immutable or any other cryptocurrency discussed.
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