Key Takeaways
- The Graph (GRT) is open-source software that accumulates and processes data from different blockchain apps.
- GRT is the native cryptocurrency of The Graph and is used for staking and receiving fee rewards.
- CoinSpot is a recommended cryptocurrency exchange in Australia to buy GRT, offering a secure platform and support for over 370 cryptocurrencies.
- The process to buy GRT involves signing up with an exchange, verifying your account, depositing funds, navigating to the buy section, selecting the desired amount of GRT, confirming the purchase, and securely storing the acquired GRT.
The Graph (GRT) is open-source software that was originally launched on Ethereum blockchain. Its main objective is to accumulate, process, and store data from different blockchain apps.
This software helps developers efficiently retrieve information and use the relevant data to effectively increase their decentralised apps.
The Graph conducts analysis and collection of blockchain data and then stores it in different indices. These indices are referred to as Subgraphs and allow applications to inquire about its protocol and get a quick reply. Users who are providing service to this network are referred to as indexers and delegators and they help process the data.
GRT is the Graph’s native cryptocurrency, and its objective is to ensure the data’s integrity is safe and secure within the network. In order to perform any role, users need to first stake GRT and, in return, receive fee rewards from the network.
However, it’s important to note that the bakers’ actions need to be genuine and forthright due to the flexibility to pass on tokens or allocate votes on its live blockchain.
If you believe in the potential of GRT (The Graph), then we can show you how to easily invest and get your hands on some in our step-by-step guide.
Where to buy GRT (The Graph)?
GRT is a very popular coin, and a large cryptocurrency by market capitalisation, so you will be able to find it at many crypto exchanges in Australia. The biggest factor is that you choose an exchange that is safe and legit, so you don't get scammed. We recommend you choose an exchange from our list of the best crypto exchanges for Aussies, as they are all tested by us, and we can confirm they are secure and trusted.
In this guide of how to buy GRT (The Graph), I will include screenshots from my personal CoinSpot account, so you can also open an account with CoinSpot if you want to easily follow along. The reason I choose CoinSpot as my cryptocurrency exchange is for the following reasons:
- Over 410+ different cryptocurrencies supported, including GRT
- Most secure and trusted crypto exchange in Australia
- Largest Australian exchange with more than 2.5 million users
- Staking on 21 coins
- Live Chat support
- NFT marketplace where you can buy NFTs using any cryptocurrency you like
Exchanges where you can buy GRT
How to buy GRT (The Graph)?
7 easy steps
Buying GRT (The Graph) in Australia is really easy, all you have to do is follow along with these simple steps, and you will have your own GRT in no time.
1. Sign up with a crypto exchange
The first step is to open an account with your crypto exchange of choice. If you haven't decided, have a look at this guide on the top crypto exchanges in Australia (click here). Or if you want to use my recommended exchange, which I will use for my screenshots, open an account with CoinSpot. You can also read my CoinSpot review first before you decide.
To sign up with CoinSpot, click this link and you will be taken to a page like the screenshot below. Click Register in the top right corner, then fill out your email, create a password, click to prove you’re not a robot, then click Create Account.
2. Verify your account
After creating the account, you need to verify your account. Click on the "Complete Verification" button and continue with any steps that show up. You need to verify your email, and then then enter your identification details and finally upload a copy of your driver license. It can take a while for your verification to be finalised, so you can have a look around your CoinSpot account and get comfortable with the interface.
3. Deposit money into your account
Once your account is verified, it's time to deposit AUD into CoinSpot. In the top left of the account, you will see the "Deposit Funds" button. Click on that, and you should see the deposit page (see screenshot below). You can use whichever method you like from that list, but my recommendation is POLi. Funds are deposited instantly and there is no charge incurred. Type in the amount you want to deposit, select your bank, and then click the "Continue to POLi" button to finalise your deposit.
4. Go to the Buy section in your account
Once your money is in your CoinSpot account, you are ready to buy some GRT (The Graph). Click on Buy/Sell in the menu along the top, then search GRT. Click on Buy GRT and you will see the purchase screen, like the screenshot below. The price of GRT is shown clearly in the middle of the screen.
5. Select how much GRT you want to buy
Select how much AUD you want to spend on GRT, then click the Buy button. You will see a pop-up which confirms how much you are spending, the fee, and how many coins you will receive.
6. Buy GRT (The Graph)
When you have checked that all the information is correct, you can click Confirm Buy to finalise your transaction. Congratulations, you are now the proud owner of some GRT!
7. Store your GRT safely
Now that you have made your purchase of GRT (The Graph) you can find it in your CoinSpot wallet by clicking on Wallets at the top of the screen. You can see how much GRT you own, and the value in AUD. You can leave your GRT in CoinSpot, which is the most secure crypto exchange in Australia. If you prefer to be even safer, you can send your GRT to a personal wallet. You can click here to read about the best crypto wallets for Australians.
Frequently Asked Questions
Yes, it is perfectly legal to buy, sell and own GRT (The Graph) in Australia.
Not many Australian crypto exchanges support debit and credit cards, but Swyftx does. You can click here to open an account with Swyftx, or read our full review here first.
If you choose a trustworthy and secure cryptocurrency exchange, it is safe to buy GRT in Australia. CoinSpot is the #1 top crypto exchange in Australia, and you can be assured that it is safe to buy GRT (The Graph) using their platform.
If you want to buy other cryptocurrency such as Bitcoin, Dogecoin or Ethereum, you can follow the same steps above, but in Step 4, type in the coin you want to buy instead of GRT.