NEXO (NEXO) is the 128th largest cryptocurrency by market cap, valued at US$874,021,723.
NEXO is a highly volatile asset capable of major price swings in a single day. Today NEXO is trading for $1.35 USD, which is lower than yesterday's trading price of $1.39 USD. Over the past year, NEXO's price has seen an increase of 82%.
So before you buy NEXO, 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 NEXO.
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 NEXO 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 NEXO 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 NEXO
You can now exchange your funds for NEXO. On beginner-friendly exchanges, this is as simple as entering the AUD or NEXO amount you want to purchase and clicking "buy".
Secure your NEXO
Consider transferring your NEXO 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 NEXO in
Australia
Find an exchange to buy, sell and trade NEXO 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 NEXO guide up-to-date
NEXO price data is regularly updated through data feeds so you always have the latest information.
What is NEXO?
SingularityNET is a decentralised artificial intelligence (AI) marketplace. Designed to let anyone create, share and monetise AI services, it allows users to access a global network of AI algorithms and services.
Within the AI industry, there's a sizeable disconnect between the scientists and researchers developing AI tools and the myriad of businesses that want to use them. Not only is it difficult to find an AI solution customised to suit the specific needs of a business, it's also an expensive process. This is the problem that SingularityNET hopes to overcome.
AGIX tokens are the native currency of the SingularityNET platform and can be used to pay for AI services. They also entitle holders to voting rights on the platform.
How do I find the best places to buy NEXO?
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 NEXO?
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 NEXO.
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 NEXO 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 NEXO?
Once you've created an account, you will need to deposit funds to buy NEXO 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 NEXO:
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 NEXO by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for NEXO on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy NEXO?
The easiest way to buy NEXO 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 NEXO, 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 NEXO has been performing recently.
Best NEXO wallets to store your NEXO
You can keep your NEXO 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 NEXO below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is NEXO a good investment?
When purchasing any cryptocurrency make sure to understand the unique risks associated with the token, as well as the volatile nature of the marketplace. In particular, buyers of NEXO may want to consider the following:
Competitors. Cryptocurrency platforms striving to provide users with traditional financial tools for digital assets. BlockFi, Gemini and Gate.io are among the centralised exchanges offering yield to lenders looking to put their unused crypto to work.
Security. Nexo employs an over-collateralised lending model. Over-collateralised loans means that borrowers must deposit more funds than they borrow and ensures that lenders assume minimal risk. Lenders are also covered by Nexo's insurance policy in the event of a hack, theft or loss of private keys.
Returns. Nexo offers competitive industry yield rates. Investors are incentivised with higher returns and deposit limits for holding a percentage of their portfolio in the NEXO token.
Today's NEXO price versus ATH
Compare today's price of NEXO ($1.35 USD) against its all-time-high price of $4.07 USD on 12 May 2021. The closer the bar is to 100%, the closer NEXO is to reaching its ATH again.
NEXO's price: $1.35 USD ATH date: May 12, 2021
33.17%
NEXO ATH: $4.07 USD
How to trade, convert or sell NEXO
You can convert or sell your NEXO with the same exchange you bought it through:
Disclaimer: Cryptocurrencies, including NEXO, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of NEXO 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 NEXO or any other cryptocurrency discussed.
This guide provides step-by-step instructions on how to buy Bitcoin Cash, lists some exchanges where you can get it and provides daily price data on BCH.
Learn how to buy Litecoin in Australia with our simple step-by-step guide and tips on what to know before you get started.
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