Buy Ethena (ENA)

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What is Ethena?

Ethena (ENA) is a synthetic dollar protocol built on Ethereum that offers a crypto-native solution for fund stability that is not dependent on traditional banking infrastructure. The protocol's primary asset is USDe, a synthetic stablecoin designed to achieve price parity with the USD through delta hedging Ethereum collateral.

  • The stability of USDe is ensured by a mechanism known as delta hedging, which involves offsetting the price change risk of the collateral assets with corresponding short futures positions.
  • Ethena also offers the 'Internet Bond', the first on-chain crypto-native 'bond' that can function as a dollar-denominated savings instrument.
  • ENA is the native utility token of the Ethena protocol. It is used for staking, collateralisation and platform governance.

Ethena aims to provide a scalable crypto-native form of money that is resistant to censorship and does not rely on traditional banking infrastructure. Attempting to lay the groundwork for a truly decentralised financial system that can operate at scale.

How do I buy Ethena?

Sign up to CoinSpot
Register for a CoinSpot account here & verify in minutes.
Deposit & buy
Deposit AUD into your account & enter the amount of AUD you want to trade for ENA and click "Buy".
That’s it!
You now own some Ethena! You can click "Go to ENA Wallet" to see your Ethena.

Learn more about Ethena

Why Should I Trade ENA with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over two million Australians. We make it easy to buy and sell Ethena no matter what your trading experience is. Unlike other international and Australian Ethena exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy Ethena with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade Ethena how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your Ethena?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your Ethena for free.

Cold Storage

If you are holding Ethena as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy Ethena. We are trusted by over two million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for Ethena. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Ethena has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Ethena is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual Ethena exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in Ethena & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying Ethena safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your Ethena portfolio here.
Yes! With CoinSpot you can convert your Ethena to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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