How To Buy CryptoCurrency in Australia

A Step By Step Guide On How To Buy CryptoCurrency in Australia-2023

In this article, we are going to be discussing how to buy cryptocurrency in Australia, to also let you know about the top platforms for you to trade your cryptocurrency while in Australia as well as whether cryptocurrency is legal in Australia or not.

What Is Cryptocurrency?

Cryptocurrency is a digital currency whose transactions are been verified and whose records are maintained by a decentralized system through the use of cryptography instead of s centralized authority. Thus it is known as a peer-to-peer system that enables you to send or receive payments anywhere you are. 

Cryptocurrency is been stored in digital wallets. It makes use of encryption in verifying its transaction the reason is mainly for the safety and security purpose of the cryptocurrencies that are being stored in your wallet. Bitcoin is regarded as the first cryptocurrency which was founded in 2009 by Satoshi Nakamoto and it is been traded up till today.

Examples Of Cryptocurrencies

  • Bitcoin
  • Ripple
  • Litecoin
  • Ethereum
  • Dogecoin
  • Solana
  • Monero
  • Bitcoin cash

Where You Can Buy Cryptocurrency In Australia

Are you in Australia and you are wondering where you can buy cryptocurrency? You don’t need to worry as we have a list of reliable platforms that can help you with your crypto investment or transactions journey. They are:

1. etoro

Launched in January 2007 in Tel Aviv- Yafo Israel. Its founders are loni Assia, Ronen Assia, and David Ring. it has its headquarters in central Israel with offices registered in the UK, Cyprus, Us, as well as Australia. Etoro is regarded as the world’s most popular US stock and EFTs. It is useful for social investing in crypto and stocks. 

With eToro, you can easily build a portfolio of top US stocks, ETFs, and cryptocurrencies, copy the portfolios of top investors, and practice investing for free with a virtual portfolio, you can also have access to professional-grade market analysis tools. Etoro products include electronic trading platforms, stocks, cryptocurrencies, copy trading, and cryptocurrency exchange. They render the following services investment management and brokerage firm. You can visit their website at www.etoro.com to find out more.

2.  Coin base 

Coinbase is an online platform solely for selling, buying, storing, and transferring cryptocurrency. It is the world’s most trusted cryptocurrency exchange. by its trading volume, it is the largest cryptocurrency in the United States which was founded in 2012 by Fred Ehrsam and Brian Armstrong. Coinbase products include Bitcoin, Bitcoin cash, Ethereum, and Litecoin as well as exchange digital assets.

 With the Coinbase App, you can securely buy, sell and hold crypto, and track prices on all cryptocurrencies, it has powerful trading tools that help you level up with your crypto trading and you can as well top stories from the crypto-verse. Coinbase has secure storage and it is protected by insurance which Helps it to maintain crypto insurance all USD cash balances are covered by FDIC insurance with up to a maximum of $250,000. So, visit www.coinbase.com  to create your cryptocurrency portfolio today.

3. Coinspot

Coinspot is regarded as Australia’s favorite crypto App with over two million customers. it is Australia’s largest selection of digital assets, you can buy, sell and swap crypto on coin spot, track and manage your portfolio, store your coins, easily send and receive and set custom price alerts. The platform was launched in 2013.

4. Binance

The largest exchange in the world in cryptocurrency daily trading volume. It was founded by Chang Peng Zhao in July 2017. with the Binance app, you can trade anywhere and at any time. It has advanced data encryption. which means, your transactions data is secured via end-to-end encryption that ensures that only you have access to your personal information. Binance stores 10% of all trading fees in a secure asset fund to protect a share of user funds. You can grow your business with Binance and also pay with Binance. 

You trade can as well trade on Binance for free that is it has zero trading fee on selected Bitcoin (BTC). The lowest transaction fee is (0.10%). When registered on the Binance app as a verified user, you stand a chance to get up to 100 USD in a trading fee rebate.  Visit the Binance website at www.binance.com to register and start enjoying its offers.

Other Platforms Where You Can Buy Crypto In Australia Are As Follows:

1. Swiftx Exchange

2. Mexx Global exchange

3. Crypto.com App

4. Digital surge

5. Coinstash

6. Kucoin Trading platform

Which Platform Is The Best To Buy Crypto In Australia?

How To Buy CryptoCurrency in Australia

Are you looking for the best platform to buy crypto in Australia in 2023? According to research, the best platform to buy crypto in Australia is CoinSpot, it is Australia’s largest variety of digital assets which has over 370 coins where its users can buy, sell, and as well swap with the benefit of the lowest fee starting from 0.1 %.

Is Buying Crypto In Australia Legal?

The answer is that crypto is not regarded as a legal tender in Australia. this is because most people in Australia do not use crypto for their everyday transactions. So, it is not widely accepted in Australia as a medium of payment.

How To Buy Cryptocurrency In Australia

Are you wondering how you can buy cryptocurrency in Australia in 2023, below is a guide on how you can purchase crypto. 

Firstly, before proceeding to buy your cryptocurrencies on any platform, you have to choose a known broker that is reliable.

Secondly, let’s use coin spot as an example of a chosen broker. In order to verify your account on coin spot you need an email address, an Australian mobile number, and a valid form of ID.

To get started

1. create a coin spot account by filling in your email address, password, and referral or affiliate code(optional)

2. The next step is verifying the account you have created by using a valid ID.once you are using a valid ID, you will be instantly verified.

3. Once verified, you now own a Coinspot account, then the next thing is to deposit AUD in your verified account.

4. Once deposited, at the top of the page on your account click on buy/sell BTC depending on whichever one you want to do and enter the AUD amount you want to trade for BTC, and then click buy.

Conclusion

This article on how to buy cryptocurrency in Australia is a guide to crypto investors in Australia looking for the best platform to buy crypto and as well how to buy it. We have selected some platforms in this writeup but there are also many other platforms you can trade within Australia.

 Choose the one that you think suits your interest and then make a thorough research before investing. register and continue your crypto journey. But make sure that whichever platform you choose is been used and also regulated in Australia. Happy reading.

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