How to buy JasmyCoin (JASMY) in Australia

JasmyCoin is a highly volatile asset capable of major price swings in a single day. Today JASMY is trading for $0.01990309 USD, which is higher than yesterday's trading price of $0.0198300776 USD.

Before you buy JasmyCoin, 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 JasmyCoin.

Where to buy JasmyCoin in Australia

Find an exchange to buy, sell and trade JASMY by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

What is JasmyCoin?

JASMY is an ERC20 token issued by an Internet-of-Things (IoT) platform also known as Jasmy. Jasmy was designed to provide individuals and businesses with the opportunity to exchange value or pay for services via smartphones, laptops, and other devices. Jasmy aims to demolish the information monopoly that is controlled by technology giants, such as Meta, Apple, and Google. Centralised organisations such as these have been known to exploit users' data for the gains of the company. Jasmy wishes to provide a solution to this problem with a fairer infrastructure developed for Web3. The new infrastructure allows everyone to fully own and control their own data in a safe and secure manner.

According to the project's whitepaper, the platform is building a global data marketplace that allows companies to pay for user data through the application of the JASMY token. Individual users then have a choice as to whether their personal data can be accessed via the Jasmy marketplace. For those that wish to share data with companies within Jasmy's ecosystem, the JASMY token will be used as a reward. Likewise, companies that wish to access users' data will need to deposit JASMY tokens to access data that is stored within Jasmy's data lockers. In addition to the fair distribution of user data, Jasmy also offers access to IoT-compatible devices, a development environment for IoT services, secure data analysis, and IoT strategy and management.

How do I find the best places to buy JasmyCoin?

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 JasmyCoin?

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 JasmyCoin.

• 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 JASMY 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 JasmyCoin?

Once you've created an account, you will need to deposit funds to buy JASMY 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 JASMY:

• 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 JASMY by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for JASMY on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy JasmyCoin?

The easiest way to buy JASMY 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 JASMY, 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 JasmyCoin has been performing recently.

Best JasmyCoin wallets to store your JASMY

You can keep your JASMY 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 JASMY below.

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is JasmyCoin a good investment?

All altcoins are highly volatile assets. Prices can rise and fall considerably depending on project fundamentals. Therefore, it is crucial to evaluate a token and its associated protocol thoroughly before an investment is made. Here are a few factors to consider before investing in JASMY:

• Scalability: The Ethereum Network is one of the most heavily congested blockchains within the cryptocurrency industry. As a result, the speed and efficiency of transactions will remain poor until it truly scales. To navigate the high levels of congestion, Jasmy plans to develop its own data storage network called Jasmy SKC. According to the project's website, this will likely be based on Hyperledger Fabric, Corda, or Substrate, all of which are far more scalable than Ethereum. Jasmy will likely need to navigate scaling issues before the protocol can fulfil its ambitions of Web3 data transfer.
• Audit: The platform runs on one of the most secure smart contracts networks within the cryptocurrency industry - Ethereum. In addition to the security that Ethereum offers, the protocol was audited by security firm SlowMist. While an audit does not mean the protocol is failure-proof, completing an audit is an encouraging sign for most blockchain-based protocols. For those considering an investment in JASMY, It might be worth reviewing the audit that was completed by SlowMist.
• Token supply: JASMY has a maximum total supply of 50 billion tokens. Only 10% are currently within circulation. The remaining 90% are held by the operating company and are set to be periodically released to fund development, growth, and marketing.
• Industry size: The Internet-of-Things industry is projected to reach $1.1 trillion in revenue by 2024. The considerable size of the market means that Jasmy has a greater market share to capture when compared with other cryptocurrency niches. However, the Internet-of-Things is littered with companies and projects that are focused on improving the sector. Jasmy will need to compete with centralised companies, such as Google and Meta, and other decentralised protocols, such as Helium and VeChain. The value of JASMY will, ultimately, be tied to the success of the platform and its ecosystem. The more users that adopt the platform, the higher the demand will be for JASMY.

Today's JasmyCoin price versus ATH

Compare today's price of JasmyCoin ($0.01990309 USD) against its all-time-high price of $4.79 USD on 16 February 2021. The closer the bar is to 100%, the closer JASMY is to reaching its ATH again.