Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Arweave, and is trustworthy!
You can find our top 3 exchanges for buying Arweave here, alternatively you can also check our comparison of the best Australian crypto trading platforms if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy Arweave
And of course, the final step is to find Arweave on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy Arweave (AR)
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How to Sell Arweave
- Sign into the exchange
- Find where you stored your Arweave, either on a hardware wallet or on the exchange.
- Transfer your Arweave to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Arweave.
Considerations when looking to buy Arweave.
Arweave, a decentralized storage network, aims to provide a platform for indefinite data storage. The network is described as "a collectively owned, hard drive that never forgets" and hosts the "permaweb", a permanent, decentralized web that includes a variety of community-driven apps and platforms.
Arweave uses AR as a native cryptocurrency to pay "miners", who in turn store the network's data indefinitely.
The original Archain project was announced in August 2017. It was later rebranded to Arweave by February 2018. Officially launched in June 2018.
According to the yellow paper, Arweave aims to provide "collective capability to store and share information among individuals and across time to new generation." Arweave's blockweave is Arweave’s variation of blockchain technology. Each block is linked to the previous one as well as the random one. This allows for the creation of a flagship permaweb. Arweave claims this encourages miners to store greater data as they can access random blocks from the past to add new ones or receive rewards.
Arweave's goal is to create a sustainable network ecosystem. It introduced "profit sharing tokens" in June 2020. These allow developers to earn dividends from network transaction fees generated by their applications. Incubators are also available to help with the development of permaweb-based applications. It also offers startups free storage and access the Arweave team as well as industry investors through its "Boost" program.
Arweave announced in March 2020 that it had received $8.3 Million from Union Square Ventures, Coinbase Ventures, and Andreessen Horowitz. This investment was in addition to an earlier November 2019 investment by Andreessen Horowitz, Union Square Ventures and Multicoin Capital.