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What is Spell Token?

Spell Token (SPELL) is a reward token on the Abracadabra lending platform used to incentivise users to maintain deep liquidity on the network. Abracadabra uses Kashi Lending Technology to provide isolated lending markets that allow users to adjust their risk tolerance according to the collateral they decide to use.

  • Spell Token spans across multiple blockchains such as Ethereum, Avalanche, Fantom & the Arbitrum One network.
  • Users can stake their Spell Token and earn sSPELL which is used for fee-sharing and governance where tokens are locked up for a 24 hour period.
  • Voting power is given by holding sSPELL tokens either in your wallet, as collateral in the sSPELL lending market or in any other contracts recognised by Abracadabra.

The Abracadabra team strives towards decentralisation by giving users the ability to vote on protocol decisions and other proposals on the platform.

How do I swap Spell Token?

Enter amount to swap
Select the quantity of Spell Token you would like to swap.
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Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about Spell Token

Why Should I Trade SPELL 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 Spell Token no matter what your trading experience is. Unlike other international and Australian Spell Token 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 Spell Token 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 Spell Token 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 Spell Token?

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 Spell Token for free.

Cold Storage

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