Where to Buy Bitcoin in Australia?
Australia is home to a variety of cryptocurrency exchanges, where you can buy Bitcoin and other digital currencies. The most popular exchanges in Australia are CoinSpot and Swyftx, with both offering a wide range of features and services. CoinSpot provides users with the ability to purchase Bitcoin, Ethereum, XRP, Litecoin and other digital assets. The platform also supports an array of payment methods, including bank transfer, debit and credit cards, POLi and BPAY.
The cryptocurrency market has exploded in value and popularity over the last year, growing rapidly. With Bitcoin prices fluctuating heavily, some are now saying it is a great time to buy in ahead of the inevitable bull market.
Novice cryptocurrency investors may find it difficult and confusing to purchase Bitcoin, as there are many different methods that can be used.
The recent increase in government regulation and scrutiny of Bitcoin due to geopolitical issues has made it more difficult for investors to purchase cryptocurrency with regular, or fiat, currency. (Such as AUD)
These recent events may have made it tougher to buy bitcoin in Australia, but there are still plenty of ways to go about it. In this guide, we’ll show you the five safest and most reliable Australian Bitcoin exchanges.
If you’re new to this, here’s what you need to know before beginning.
Before investing in Bitcoin, make sure you understand how a Bitcoin wallet works. You will need to provide your chosen broker with a valid wallet address before receiving any Bitcoin.
If you’re planning on purchasing a large quantity of Bitcoin, you might want to look into investing in a hardware wallet for added security. When choosing a Bitcoin broker, be sure to keep these factors in mind:
- Payment methods: You can buy Bitcoin with a few different payment methods, like BPAY. Some platforms even let you buy it in person from your local newsagent! But due to disruptions from the big four banks, it’s tough to find places that accept POLi or credit/debit cards anymore.
- Fees: The fees charged by Bitcoin brokers will differ depending on the specific broker.
- ID verification requirements: The exception to the rule that all Bitcoin brokers in Australia must follow Know Your Customer and Anti-Money Laundering laws is LocalBitcoins. With LocalBitcoins, you can buy Bitcoin completely anonymously with cash in person.