Buy Ocean Protocol
in Australia

Ocean Protocol is a decentralized data exchange platform designed to allow data providers to securely and privately share valuable data and artificial intelligence models while maintaining control over their data. It enables users to discover, access, and use data through a marketplace while ensuring data privacy, security, and compliance with data sharing agreements. Through this protocol, publishers can earn money from their data while maintaining privacy and have control, and along with this, users or data consumers will have access to a set of data that was previously unavailable or difficult to find. These datasets can be found on Market Ocean, a place to buy, use and sell them. 

The main idea of Ocean Protocol is to make data available to startups and researchers without leaving the ownership of their custodians. The Ocean platform is built with the goal of facilitating the exchange of data, and connecting users who need this data, or cannot afford to store it, with users who have data to sell. In return, data providers of the Ocean Protocol cryptocurrency are rewarded.

OCEAN is the native token of the Ocean Protocol blockchain. Crypto traders use the symbol "OCEAN" to refer to the Ocean Protocol token (OCEAN), which is commonly traded on different platforms. The symbol is used to distinguish it from other crypto assets and to make it easier for users to identify and trade the token. The symbol is standardized and is widely recognized by the cryptocurrency community, making it easier for users to trade OCEAN on different mediums.

Yes. According to the Reserve Bank of Australia (RBA), cryptocurrencies are digital tokens. They are a type of digital currency that allows people to make payments directly to each other through an online system. Cryptocurrencies can be used to buy and sell things but they are not widely accepted as a means of payment. According to the above-mentioned explanation by the RBA, in Australia the prices of goods and services are measured in Australian dollars. While some businesses may accept cryptocurrencies as payment, they are not commonly used to measure and compare prices. So, while cryptocurrencies can be used to make payments, currently their use as a means of payment is limited and they do not display the key characteristics of money. However, there is one type of digital currency that could be considered money which is digital currency issued by the central bank.

Yes. According to the Australian Government Taxation Office, cryptocurrencies are treated as property and subject to Capital Gains Tax (CGT). So, Crypto investors have to report capital gains and losses within their Income Tax Return, and pay Income Tax on any net gains. The percentage of Income Tax they pay is the same as the Personal Income Tax rate, starting only from earnings above $18,201. According to the mentioned guideline, the tax treatment of your crypto assets will typically depend on whether you are seen as an individual investor or a trader making a regular income. If you hold shares as an investor, your shares are assets and are subject to capital gains tax when you sell them. If you are a share trader, your shares are treated like trading stock in a business and your gains are treated as ordinary income.

The OCEAN token has several uses within the Ocean Protocol network, including: Access to data and services provided by the network, Staking to secure the network and earn rewards, Governance through voting on protocol upgrades and other important decisions, Payment for data and compute services provided on the network. The OCEAN token can also be used outside of the Ocean Protocol network as a form of currency or asset for: Trading on cryptocurrency exchanges, Payment for goods or services from merchants who accept OCEAN, and for investment or speculative purposes.

Anyone. One of the safest and easiest ways to buy cryptocurrency in Australia is to seek out a registered exchange. Australia supports various payment services such as: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal. Our exchange offers payments through the mentioned services using secure transactions while charging no exchange fees.