How Tos

How to buy Elongate in Australia

Quick-Take: The easiest and fastest way to buy Elongate within Australia is to buy Tether (USDT) from CoinSpot, and then send it to the Bitmart Exchange. Once your USDT is on Bitmart, you can swap it for the Elongate coins.

By 
Jennifer Leong
 on  
May 22, 2022
Verified Author

You cannot buy meme coins like Elongate (ELONGATE) from Australian exchanges like CoinSpot or SwyftX because these tokens are securities risks.

The only way to buy ELONGATE it by signing up to an off-shore exchange like Bitmart, or using a decentralized exchange like UniSwap. We recommend Bitmart over UniSwap because DEX swaps are expensive.

Table of Contents

How to buy Elongate in Australia

The best and easiest way to buy Elongate in Australia is to first sign up with an Australian cryptocurrency exchange, we suggest using CoinSpot as it is a very easy to navigate platform for beginners. Then you will need to send your USDT from CoinSpot to the Bitmart exchange.

Follow the guide below to get started.

  1. Sign up to CoinSpot
  2. Complete your verification and onboarding
  3. Deposit AUD from your bank account via Bank Transfer, Cash or PayId/Osko
  4. Select the Buy page and find buy Tether (USDT) as shown below
  5. Input the dollar amount you want to purchase and click 'Buy'!
  6. Sign up to Bitmart and find your Tether USDT deposit address
  7. Send your USDT from CoinSpot to Bitmart.
  8. Find ELONGATE and press buy

What is Elongate Crypto?

ElonGate is one of the newer cryptocurrencies that gained popularity from a meme. It started from a tweet posted by Elon Musk, he told his Twitter followers that if he is ever part of any scandal, it should be called “ElonGate”. After the tweet was posted, a fan immediately started working on the ElonGate website.

The token started trading in April 2021, and was listed at $0.000000084. Only a few weeks after launch, it reached its peak at $0.000001000 per token. This was a return of roughly 1,200% increase from its launch price. Since it peaked, it went back to about $0.00000080, which is still 10x the value of the first trading price.

ElonGate is a BEP-20 cryptocurrency that was built on the Binance Smart Chain network. Their platform charges a 10% transaction fee anytime someone trades the ELONGATE token, which then gets redistributed back to holders. Meaning that by holding the ELONGATE token, you get passive income from people trading the token.

The project also claims to donate a significant portion of the protocol rewards to philanthropic activities and for activities that boost the general awareness of blockchains.

Where to buy Elongate

Most major centralised cryptocurrency exchanges in Australia like CoinSpot and SwyftX do not currently offer the ability to trade meme coins like the Elongate token. This is due to the fact that it is a relatively new token, which means that it may take some time before it's listed on centralised cryptocurrency platforms. The only available way to buy Elongate is by going through a DEX (Decentralised Exchange).

Elongate Price AUD

ElonGate has no product nor does it provide any unique benefits or services to its users. The projected roadmap for ElonGate admits it doesn’t have any real world use-cases. It is essential to know that currently, meme tokens are some of the most volatile investments and require a lot of research before investing in them. The chart below is a live price of ELONGATE in Australian Dollars (AUD).

Buy Elongate

Author Bio

Jennifer just finished her Masters in Finance and is leading our team on the traditional banking & fintech research and content.

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