Last update: Jun 6, 2022

How to Buy WAX (WAXP)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy WAX. Depending on where you live, you’ll have different cryptocurrency 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!

Wax

How to Buy WAX – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto exchange 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 WAX of course.

2. Sign up with the cryptocurrency 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 cryptocurrency exchanges.

4. Buy WAX

Now that you have what you need to buy WAX, head over to the market or buy section of the cryptocurrency trading platform and buy some WAXP.

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

Where to Buy WAX (WAXP)

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 WAX

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

 

Crypto trading

How to Buy WAX (WAXP) 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 WAX in Australia, the process remains the same:

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

Also, check out our comparison of the cryptocurrency trading platforms in Australia for those looking to learn more about which exchanges we would recommend.

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 WAX (WAXP) 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 WAX in Canada, the process remains the same:

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

Alternatively, if you want to know more about the exchanges we prefer, read our comparison of the best cryptocurrency exchanges in Canada.

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 WAX (WAXP) 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 WAX in the UK, the process remains the same:

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

If you’d like to know more about which exchanges we prefer, read our comparison of the better exchanges for trading crypto in the UK.

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 WAX? WAXP Rundown

WAX (WAXP), a purpose-built, 2017-released blockchain, is intended to speed up e-commerce transactions and make them safer, simpler, and faster for all parties. As its consensus mechanism, the WAX blockchain uses delegated Proof-of-Stake (DPoS). It is fully compatible to EOS.

WAX has developed custom features and incentive mechanisms to maximize the utility of the blockchain for e-commerce. This is in the interest of encouraging votes on proposals.

WAX has created a set of blockchain-based tools that can be used to build decentralized applications ( DApp), marketplaces, and non-fungible tokens.

WAX Cloud Wallet, SSO, and OAUTH all support ecommerce operations. The latter is a native RNG service as well as a portal for developers. WAX's blockchain architecture allows for 500-millisecond block times and zero-fee transactions. Voting rewards are also used to encourage participation in the selection process for block producers and improvements.

WAX has a WAXP to-Ethereum ( /ETH] bridge, which allows WAXP token owners to convert tokens into WAXE. This is an Ethereum-based ERC20 utility coin.

To participate in WAX tokenomics, users will need to first burn their WAXP tokens to obtain WAXE via the Ethereum bridge. Then, they will need to stake their WAXE tokens onto the Ethereum distribution contract.

WAXG, an Ethereum-based ERC-20 governance token, is distributed to WAXE stakeholders. Distribution is determined by the WAX Economic Activity pool's percentage and follows a timetable. As a result, token holders have the ability to control the distribution and allocation of economic value on this platform.

The WAX Economic Activity Pool is a smart contract which accumulates a portion of the generated WAX fees. It can be converted to ETH for distribution among WAXE stakers. It can also be distributed to WAXG token owners who decide to lose their tokens.

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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.