How to buy Immutable (IMX) in Australia

Immutable (IMX) is the 86th largest cryptocurrency by market cap, valued at US$1,024,201,482.

Immutable is a highly volatile asset capable of major price swings in a single day. Today IMX is trading for $0.563586 USD, which is higher than yesterday's trading price of $0.529911751 USD. Over the past year, Immutable's price has seen a decrease of -74%.

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.

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.

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.

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 ($0.563586 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: $0.563586 USD
ATH date: November 26, 2021

5.92%

Immutable ATH: $9.52 USD




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.