Last update: Jun 6, 2022

How to Buy Phala.Network (PHA)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Phala.Network. Depending on where you’re located, you’ll have various crypto exchanges to choose from.

In this guide, we not only cover the top 3 global cryptocurrency exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Phala. Network

How to Buy Phala.Network – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Phala.Network of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger exchanges.

4. Buy Phala.Network

Now that you have what you need to buy Phala.Network, head over to the market or buy section of the crypto exchange and buy some PHA.

If the crypto exchange doesn’t have any Phala.Network on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Phala.Network first), and trade your Ethereum for Phala.Network.

Where to Buy Phala.Network (PHA)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Phala.Network

  1. Sign into the cryptocurrency exchange where you bought Phala.Network.
  2. Move your Phala.Network to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Phala.Network.

 

Crypto trading

How to Buy Phala.Network (PHA) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Phala.Network in Australia, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Phala.Network if it’s available. If the exchange doesn’t have Phala.Network. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Phala.Network), and trade your ETH for Phala.Network.

It’s also possible to take a look at our analysis of the sites for bitcoin trading in Australia if you’re curious to know more about the exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Phala.Network (PHA) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Phala.Network in Canada, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Phala.Network if it’s available. If the exchange doesn’t have Phala.Network. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Phala.Network), and trade your ETH for Phala.Network.

It’s also possible to take a look at our analysis of the best cryptocurrency exchanges in Canada if you’re curious to know more about the exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Phala.Network (PHA) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Phala.Network in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Phala.Network if it’s available. If the exchange doesn’t have Phala.Network. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Phala.Network), and trade your ETH for Phala.Network.

Also, check out our comparison of the cryptocurrency brokers in the UK if you’re interested in learning more about which ones we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Phala.Network? PHA Rundown

Phala Network, a privacy-preserving cloud computing platform, offers computing power comparable with existing cloud services and protects managed programs. TEE-Blockchain Hybrid Architecture allows developers to deploy secure smart contracts within the TEE Enclaves of the CPU.

Substrate is also the basis of Phala, and it will be used as a Parachain in Polkadot ecosystem.

  • PHA is the native utility symbol that is used for:
    Trusted Computing Resources - Purchase trusted computing resources from the network and data exchanges (e.g. Trusted Computing Power: Purchase trusted computing resources in the network and data exchanges (e.g.
  • Data Exchange Fee: Phala offers a contract-based infrastructure for data exchange that allows standard data collection, analysis and trading protocols. Phala's protocol creates a trusted and confidential exchange environment for buyers and sellers.
  • Security Guarantee: Gatekeepers are required to stake a minimum amount of PHA tokens. These tokens can be confiscated if they are misbehaved.
  • Governance: All stakeholder who have a certain amount PHA can join the Phala DAO for community governance.

Phala Network addresses the question of trust in the cloud computing environment.

  • This blockchain platform is a trustless computing platform that allows massive cloud processing without compromising data confidentiality. Phala Network's distributed computing cloud, built around TEE-based privacy technology embedded in modern processors is flexible and secure. Phala separates the consensus mechanism and computation to ensure that processing power can be scaled. This creates the infrastructure to support a trustless, powerful, secure computing cloud.
  • Phala, as a member parachain, will be able provide computing power to other Blockchain applications while protecting data layer. This allows Phala to enable privacy-protected DeFi trading position and transaction history, cocomputing DID confidential information, developing light-node Cross-chain Bridges and many more.
  • Web3 Analytics is one of the on-chain services being developed by Phala Network. These high-performance smart contract from Phala allow highly concurrent mass data analysis with privacy. This opens up the possibility for a Google Analytics alternative that respects individual confidentiality.

Related:

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.