Te just the last month, it feels like Bitcoin has surged to mainstream prominence, popping up on social media, TV, radio and just about anywhere information is exchanged. However, tho’ Bitcoin may be the most popular cryptocurrency, it’s not the only one – arguably, it’s not even the best one.
We’ve rounded up the ways you can buy Bitcoin, other cryptocurrency and altcoins te Australia.
The easiest and most user-friendly way to buy cryptocurrencies is to use an exchange. An exchange is exactly what it sounds like – you can exchange your Australian dollars for any number of cryptocurrencies. To use them, you need to provide the exchange with identification such spil a driver’s licence or passport. Once they review your supporting documents, you’re ready to buy (or sell) cryptocurrencies.
How To Tell If You’re ‘Middle Class’ Te Australia
Politicians are fond of pitching to the “average Australian” but judging by the income of Australians, whether you are middle class depends on where you live. And where wij live tells a rich story of who wij are spil a nation – socially, culturally and economically.
There are a few things to keep ter mind when determining to purchase cryptocurrency and what exchange to use:
- Exchanges don’t generally sell every cryptocurrency available.
- Exchanges charge transaction fees.
- Exchange security isn’t infallible.
- Exchanges have daily boundaries on how much you can purchase/sell.
- Exchanges are not a good place to store your cryptocurrency.
- Exchanges have different payment methods.
Before signing up for an exchange, you should research what cryptocurrencies they are selling and how much their security measures (ie. Do they have 2-factor authentication?) and their daily boundaries. You should also ensure that you are ready to store your coins te a ‘wallet’ – either a hardware or software-based ‘safe’ for your coins because exchanges aren’t necessarily the safest place to keep your money. The guide below will help you get commenced.
How To Get Commenced With Bitcoin Te Australia
Bitcoin is a form of cryptocurrency that can be used to purchase everything from online goods to multi-million dollar mansions. They are presently more valuable than gold, with a single Bitcoin equalling more than three thousand Australian dollars. Unnecessary to say, there is a giant amount of rente te bitcoin and it’s not too hard to embark mining bitcoins of your own.
At the time of writing, many exchanges have bot slow to verify and accept fresh users because of the increasingly high request for Bitcoin.
Where Can I Buy Cryptocurrency?
Basically every exchange you come across will give you access to Bitcoin, the (current) strak of the cryptocurrency world. However, there isn’t a vast array of choices when it comes to exchanging metselspecie for smaller cryptocurrencies such spil Monero, Dash or IOTA. To begin with, let’s look at exchanges that carry a broad range of cryptocurrencies:
Exchanges: Bitcoin, Bitcoin Contant, Bitcoin Gold, Ether, NEM, Dash, Litecoin, Ripple, Monero, IOTA, Golem and many more
CoinSpot is one of the most popular and well-known exchanges ter Australia and supports exchange of an astonishing amount of cryptocurrencies. It is relatively effortless to get began and once you are verified, it is effortless to navigate.
If you’re truly getting into the cryptocurrency craze and have bot doing your reading on all sorts of investment options, CoinSpot is a very good option for Aussies because you can use AUD and pay with services such spil BPAY, which attracts a 1% toverfee.
Its list of altcoins is meaty, with access to overheen 60 cryptocurrencies.
Exchanges: Bitcoin, Bitcoin Contant, Litecoin, Ethereum, Ethereum Classic and Ripple
Based te Melbourne, Australia, BTC Markets is an exchange that will let you use Australian dollars. While they don’t have the same selection of altcoins spil CoinSpot, you can use BPAY and Poli to buy their 6 cryptocurrency offerings. A good place to get commenced with a simplistic readout and deposit methods.
Exchanges: Bitcoin, Bitcoin Metselspecie, Bitcoin Gold, Ether, NEM, Dash, Litecoin, Ripple, Monero, IOTA and many more
Another major exchange, Binance is relatively fresh to the market but has skyrocketed to prominence like the cryptocurrencies it permits you to exchange with other altcoins. Unluckily you cannot exchange fiat currencies here.
Binance also has its own coin, known spil Binance Coin, that you can use on the toneel.
Like CoinSpot, they have a large list of cryptocurrencies to trade.
Exchanges: Bitcoin, Bitcoin Specie, Dash, Ether, Golem, Litecoin, Monero and Ripple and more.
ShapeShift works slightly different to the previous exchanges ter that you can only buy Bitcoin and altcoins buy exchanging them for other altcoins. At present, there are 37 cryptocurrencies that can be exchanged. The major benefit of using ShapeShift is that you don’t need an account to get embarked – but you will need access to one cryptocurrency or another if you’re going to dive ter. Good if you’re looking to budge your Bitcoins to an up-and-coming altcoin.
Exchanges: Bitcoin, Bitcoin Contant, Dash, Ether, Golem, Litecoin, Monero, Iota, Ripple and more.
Bitfinex is the world’s largest Bitcoin trading podium and it provides more seasoned cryptocurrency traders with a place to exchange coins. It’s complicated charts and readouts will likely waterput off the more fledgling buyer.
It does have its detractors because of its close associations with Tether – an unregulated cryptocurrency token that wij won’t get into here. That doesn’t take away from its use ter exchanging specie for cryptocurrencies, but it’s something to consider.
Notably, Bitfinex wasgoed hacked last year, resulting te $72 million worth of Bitcoin being lost.
Exchanges: Bitcoin, Litecoin and Ether.
Another popular choice because of its global appeal, Coinbase permits you to exchange three of the major cryptocurrencies. Like most exchanges, it requires an ID check before you can start buying. It has a minimalist vormgeving and effortless to read charts that make following the ups and downs of the cryptocurrency rail that much simpler.
Exchanges: Bitcoin or Ether.
A high-fee option that permits users with a credit/debit card to purchase Bitcoin or Ether te puny amounts without verification. Tho’ a reliable exchange, the security measures are low, so budge those Bitcoins to a wallet.
Exchanges: Bitcoin or Ether.