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How to buy Bitcoin in Australia


How to buy Bitcoin in Australia



Buying Bitcoin, Etherium, Litecoin, Dash and even more is easy in Australia with some of the best exchanges around. This post will summarise some of the best exchanges you can use to buy cryptocurrency in Australia.


An exchange allows you to convert money AUD/fiat into another currency or cryptocurrency, just like you would do if you travelled to another country. Cryptocurrency exchanges exist in Australia for this very purpose and allow you to convert AUD to a number of different cryptocurrencies, allowing you to purchase Bitcoin with AUD as well as many others.


Note this is not considered to be financial advice and is not to be used as advice on whether or not to invest in cryptocurrency, this is for informational purposes only.


Which Australian Cryptocurrency exchanges to use?

There are a number of different cyryptocurrency exchanges available in Australia and they each work a little differently. See the list of cryptocurrency exchanges below.


CoinSpot

CoinSpot is one of the easiest exchanges to use and you can sign up for free, CoinSpot is the leading cryptocurrency exchange in Australia and is well known for supporting a wide range of altcoins on its platform.


CoinSpot supports BPAY, cash deposits, POLI Payments, aswell as supporting PayID for quick instant transfers with no fees.

I've written a previous post with further information on coinspot if you'd like to learn more check out that article here


Signup with CoinSpot


Some other Australian exchanges include:


  • Independent Reserve
  • CoinJar
  • BTCMarkets
  • CoinTree
  • Coin Loft
  • ACX


What do I need to start buying cryptocurrency?

To start trading cryptocurrency in Australia you will need to choose one of the exchanges above and open an account with them. When you open your cryptocurrency trading account you will then need to verify your identity before trading under Australian KYC (Know Your Customer) laws, this is simple and should only take a few steps to complete.


Typically to get your account verified you will need to upload a copy of your Drivers License but this depends on the exchange and they may ask for additional documentation such as a recent utility bill.


Once your account is verified with your chosen exchange you will then be able to trade cryptocurrency.



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