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Australian Dollar (AUD) to API3 (API3) Instantly

Purchase API3 (API3) with Australian Dollar (AUD) easily at Switchere and benefit from fast, secure transactions.

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About
API3 (API3)

API3 is a collaborative project dedicated to building, managing, and monetizing decentralized APIs (dAPIs) at scale, directly addressing the blockchain oracle problem. It aims to connect smart contracts with real-world, off-chain data in a more secure, transparent, and cost-effective manner. Unlike traditional oracle models that rely on third-party intermediaries, API3 champions a first-party oracle solution. This model allows API providers to run their own oracle nodes, called Airnodes, with minimal effort. This direct data sourcing from the provider to the blockchain technology eliminates the need for middlemen, reducing attack vectors and increasing the reliability of on-chain data feeds for various DeFi applications and Web3 infrastructure.

The core of the ecosystem is the API3 token, a digital asset that functions as both a utility and governance token. Token holders can participate in the API3 DAO, which governs the entire network, including the selection of dAPIs and collateral management. Staking the API3 token is a crucial component of its tokenomics, as it provides a security collateral and an insurance-like mechanism for users of the dAPIs, guaranteeing service quality and data integrity. This cryptographic security model aligns incentives between API providers, dApp developers, and the DAO, fostering a robust and decentralized Web3 API economy.

API3 (API3)

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How to Buy API3 (API3)

  1. Select currency menu

    Choose AUD to API3 Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your API3 Wallet Address

    Provide your API3 wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your API3

    Complete the payment, and your API3 will be sent to your wallet.

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Frequently Asked Questions

  • What is the AUD/API3 trading pair and what does it represent?

    The AUD/API3 pair represents a direct fiat on-ramp, allowing you to purchase API3 tokens, a digital asset, using Australian Dollars (AUD). API3 is a project focused on solving the 'oracle problem' by enabling decentralized APIs (dAPIs) that connect blockchain smart contracts directly with real-world, first-party data feeds without middlemen, utilizing its unique Airnode technology.

  • How does API3's first-party oracle model differ from others when considering a trade?

    When you buy API3, you're investing in a first-party oracle architecture. Unlike third-party oracles that rely on intermediaries to fetch off-chain data, API3's Airnode technology enables data providers to run their own oracles with minimal effort. This direct on-chain data connection from the source enhances data integrity, reduces attack vectors, and is a key technical differentiator in the Web3 API economy.

  • How can I securely store API3 tokens after purchasing them with AUD?

    For optimal security, it is best practice to withdraw your API3 tokens from the exchange to a non-custodial digital wallet where you control the private keys. For long-term holding, a hardware wallet provides the highest level of security by keeping your keys offline. For active participation in the API3 ecosystem, a reputable software wallet like MetaMask can be used. Always back up your seed phrase securely.

  • What are the common payment methods on Australian crypto exchanges for buying API3 with AUD?

    To purchase API3 with AUD, most AUSTRAC-compliant exchanges offer several convenient fiat gateway options. The most common methods include direct bank transfers, PayID for instant deposits, and BPAY. These payment systems are well-integrated into the Australian banking system, providing a secure and regulated path for your digital asset purchase after completing KYC/AML verification.

  • What fees should I anticipate when executing an AUD to API3 transaction?

    Typically, three types of fees apply. First, a deposit fee for your AUD, which may vary by method (e.g., BPAY might have a small fee). Second, the cryptocurrency exchange's trading fee, often a percentage of the transaction value, which can differ for 'maker' and 'taker' orders in the order book. Finally, if you move your API3 to a personal digital wallet, a blockchain network withdrawal fee will be charged, which is determined by network congestion.

  • Are there specific AUSTRAC compliance rules for trading the AUD/API3 pair in Australia?

    Yes, any cryptocurrency exchange offering AUD on-ramps in Australia must be registered with AUSTRAC and adhere to strict KYC/AML (Know Your Customer/Anti-Money Laundering) regulations. This means you will need to verify your identity before you can deposit AUD and trade for API3. These measures are in place to ensure a secure trading environment and prevent illicit activities.

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