How to Buy Internet Computer Protocol (ICP) in Australia?

Disclaimer: The information on this page should not be considered investment advice. In this review, we show you how to buy internet computer protocol using our funds for this demonstration. 

To buy ICP, the first step is to review and compare suitable exchanges in Australia. While exchange fees should be considered, choosing a legitimate exchange you can trust should be critical. So let’s dive in. 

What is Internet Computer Protocol (ICP)?

The Internet Computer Protocol (ICP) seeks to create a network of world computers that are interconnected to deploy decentralized applications (dApps), metaverse games, centralized finance (DeFi apps), and host NFT marketplaces. The ICP token is the native coin of the Internet Computer Protocol blockchain network and has seen a lot of interest from cryptocurrency investors.

 Developers prefer the Internet Computer Protocol blockchain. It is increasingly being adopted because it provides storage at lower costs ($5 per GB/per year) and processes transactions quickly at 11,500 TPS. The entire blockchain network is run through a network of nodes spread out throughout the world, and it functions through a decentralized autonomous organisation (DAO). 

Where can I buy Internet Computer Protocol (ICP)?

Many cryptocurrency platforms in Australia offer the ICP coin. It is a new coin slowly being listed on leading cryptocurrency exchanges. All the exchanges recommended here have the option to buy ICP.

One of the best places to purchase the ICP token is CoinSpot. It is an Australia based exchange where you can buy the Internet Computer Protocol token easily and securely. The account creation process on CoinSpot is pretty simple, and all you need to do is register your account, provide some documents to prove your identity and address, deposit funds, and purchase the ICP token. As an Australian user, you have many options for buying the ICP token.

The CoinSpot exchange is certified by Blockchain Australia and provides two-factor authentication to secure your account.

How to buy Internet computer protocol (ICP)?

Step1: Review and compare exchanges that you can buy ICP  

Step 2: Create an Account: To create a new account on a centralized exchange, look for the register button. Now, enter basic details such as email address, phone number, and secure password to register your new account. The exchange will send a verification mail to the email address with the code you need to input to proceed with the next step.

Step 3: Verify Your Account: To verify your newly opened account, you must submit scanned copies of identity and address documents such as a passport or driving licence and a utility bill. 

Start Trading: Once your account is verified,  you can start training. However, you will first need to deposit funds to purchase the ICP token. You can deposit funds either through cards, bank transfers (including PayID), or POLI

#1 Coinspot (our recommended exchange to buy ICP)

Disclaimer: We purchased Internet computer protocol (ICP) on this exchange to assist our readers. Digital currencies are highly volatile, this information is not investment advice.

PROS

  • Create “watchlists”, a  complete portfolio of your favourite coins. See daily percentage increases, view charts and set price alerts. 
  • Easy-to-use interface, including an APP to buy Internet computer protocol (ICP) directly from your mobile phone.
  • Easily swap coins. Swap one cryptocurrency for another at a lower fee. We have swapped coins in the past using this method (including ICP)
  • Coinspot offers two-factor authentication for security. 
  • Fast withdrawals – you can see accurately how long it takes to withdraw money back to your bank account in my coinspot review.
  • AUSTRAC regulated 

#2 Crypto.com

Crypto.com listed Apecoin in May 2021

PROS

  • Crypto.com provides the ability to purchase Internet computer protocol (ICP) in over 20 fiat currencies. 
  • Available to traders in the USA, Australia and New Zealand.  Currently listed as the best for coin staking in my articles best crypto exchanges in NZ and 6 best crypto exchanges in the USA
  • Access to 250 + cryptocurrencies and a user-friendly mobile app.  
  • The ability to purchase ICP and a few simple steps from desktop
  • ICP token is available to buy for Australian residents. 

#3 Swyftx

PROS

  •  No fees on deposits and withdrawals when buying ICP
  • Low trading fees
  • View price charts in realtime
  • Multiple cryptocurrencies are available for trading, including ICP
  • Demo trading feature for new users

#4 Digital Surge

PROS

  • Low trading fees and low spreads
  • The ability to purchase 270 + cryptocurrencies including ICP
  • Customer service team available 24 x 7
  • Supports direct AUD deposits and withdrawals

How to create an account to buy Internet computer Protocol (Step by step)

Go to the website https://www.coinspot.com.au/

Click on Register.



Fill in your E-mail ID and create a password that should be at least 10 characters long and consist of at least 1 upper case, 1 lower case, and 1 number. After filling in the details, click on “Create Account.” Fill in your e-mail id here. Create a secure password here Type the Referral or Affiliate code if you have it.

Done! Your account has been created. Enjoy trading Crypto on coinspot.

Complete the verification as per the requirements, and get started!

Depositing funds into coinspot

How to buy Apecoin in Australia (Step by step)

We purchase apecoin in our recommended exchange – Coinspot. See how to buy it Step by step. 

Step 1

STEP 1 ICP
Go to the buy/sell tab and type “ICP”, as shown above.

Step 2

step 2 ice
Type in the amount you wish to purchase. Here you can see the amount you are purchasing and the fee associated. For this transaction, my fee will be 1c.

Step 3

step 3 ice
A confirmation through a big green tick that I have now purchased Internet computer protocol (ICP).

COINSPOT

RESPONSIVE CUSTOMER SERVICE & LOW MARKET ORDER FEES

4.8/5

RATING 4.8

Thinking of buying crypto rating

300+

Market Orders 0.1%

Instant buy & Sell 1.0%

● PayID
● POLi
● Crypto
● Cash
● Bpay
● Bank Transfer Here

What is the current ICP Price?

Internet computer Protocol (ICP) has seen tremendous volatility reaching an all-time high of $700.65 (currently trading at $21 (AUD) per CoinMarketCap. For the ICP price in real time (see the chart below).

Payment Methods to buy Internet computer protocol (ICP)

Most Australian exchanges accept the following. I don’t recommend paying with cash or Bpay as both of these options are likely to result in higher fees. 

  • debit card
  • direct bank
  • PayPal
  • PayID (free and instant) recommended
  • Cash (2.5% fee)
  • Bpay (additional fees)

How to buy Internet computer protocol (ICP) on a decentralized exchange?

On a decentralized exchange, the process is much quicker and simpler. A decentralized exchange does not insist on KYC, and you can start trading in a few minutes. Select a decentralized exchange such as ICPSwap and connect your cryptocurrency wallet. Then, enter the number of tokens you wish to purchase and click on the buy button. You must already possess some cryptocurrency to pay for the ICP tokens.

For new users, it is best to do some research and learn about decentralized exchanges because there is no guarantee that the assets will be deposited into your account. Since there is no KYC on such platforms, the exchange cannot help you in case of fraud. In the case of a centralized exchange, the orders are processed through the platform, and since all users are verified, the risk of losing your assets is significantly reduced.

Buy Internet computer protocol (ICP) Verdict

The Internet Computer Protocol is a relatively new cryptocurrency and could potentially provide handsome returns to its early investors in the future. Select a suitable platform to transact and purchase ICP in Australia as per your preferences. It is also advisable to research before buying cryptocurrencies as they are a volatile investment instrument.

 The short answer is yes! Buying ICP on Coinspot is a recommended option it’s a trusted and legitimate aussie crytpo exchange

While depositing with cash is an option, it’s not recommended. Cash deposits when buying ICP can incur a fee of 2.5%. 

Yes, this is our preferred option to buy ICP. It’s fast and free when using a centralized exchange such as Coinspot to buy ICP in Australia.

Buying ICP is safe if you choose a trusted exchange. We demonstrated on this page how buying ICP on a legitimate exchange can be done in a few simple steps. 

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