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What is Flare Network?

Flare (FLR) is a layer 1 blockchain that utilises an Ethereum Virtual Machine. Created to bring further functionality to Ripple’s XRP, Flare introduces smart contract support for the XRP network.

  • Flare Networks main innovation is its integration of the Ethereum Virtual Machine, allowing for smart contracts to be run and interpreted by networks that previously could not do so.
  • With an aim to be more versatile than comparable blockchains, Flare’s consensus algorithm avoids traditional issues of Proof of Stake networks as Flare does not rely on their native token to maintain the security of the network.
  • FLR is the native governance token of the Flare network. Flare’s governance method aims to give everyone in the ecosystem the ability to collaborate and contribute. Holders can propose policy changes and vote.

Flare is a new way to scale networks that previously did not support smart contracts. The Flare network allows XRP to utilise smart contracts, while also encouraging further interoperability between networks that previously would not have been possible.

How do I swap Flare Network?

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Select the quantity of Flare Network you would like to swap.
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Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about Flare Network

Why Should I Trade FLR with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell Flare Network no matter what your trading experience is. Unlike other international and Australian Flare Network 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 Flare Network 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 Flare Network 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 Flare Network?

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 Flare Network for free.

Cold Storage

If you are holding Flare Network 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 Flare Network. We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for Flare Network. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Flare Network has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Flare Network 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 Flare Network 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 Flare Network & 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 Flare Network 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 Flare Network portfolio here.
Yes! With CoinSpot you can convert your Flare Network 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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