A complete guide to buying, selling, and trading Bitcoin
Bitcoin is a UTXO token with a total supply of 21000000, you can find more information about the Bitcoin project at the official website at https://bitcoin.org/en/
If you want to buy BTC tokens, the native currency of the Bitcoin platform, this guide is designed for you.
This guide will take you step-by-step through everything you need to know to buy BTC with fiat or cryptocurrency as well as some links to some about other resources with details on the best BTC wallets, and how to get started mining Bitcoin.
To quickly get to different sections in this guide you can use the following links:
Our complete step-by-step guide will take you through the following five steps. 5 steps to buying Bitcoin (BTC)
- Register an account with CoinSpot
- Verify your account
- Deposit funds
- Select Bitcoin
- Buy BTC
Where to buy BTC in Australia
There are actually quite a number of crypto exchanges operating in Australia, these include:- CoinSpot
- Independent Reserve
- Local Bitcoins
- CoinJar
- MyCryptoWallet
A step by step guide to buying Bitcoin
There are two main ways to buy BTC token on CoinSpot- Buy BTC with fiat .e.g AUD
- Buy BTC tokens with another cryptocurrency like Bitcoin
how to buy BTC with AUD
You can quickly and easily by BTC tokens with Australian dollars by following these steps:Step 1: Register an account with CoinSpot
CoinSpot is one of the best Australian cryptocurrency exchanges where you can buy BTC with AUD. You can register an account with CoinSpot by clicking the link below.All you need in order to sign up is a valid email address.
When prompted, enter our referral code GOGBPE to get yourself $10 worth of Bitcoin when you make your first deposit.
Step 2: Verify your CoinSpot account
In order to complete your registration and start trading you will need to verify your account. To complete verification you may need to provide CoinSpot with the following:- Your name
- Email address and mobile phone number
- Proof of residency
- Proof of ID
- A photo of yourself holding a signed statement
- Answer a couple of questions over the phone
Step 3: Deposit funds
From the CoinSpot website click the "Deposit AUD" link then click "select another deposit method" to select your preferred deposit method.You can then follow the prompts to make a deposit from your bank account using POLi, BPAY, or PayID. Alternatively you may deposit cash at a participating newsagent using blueshyft.
Coinspot support the following methods to deposit AUD:
- POLi
- BPAY
- PayID
- Cash deposit
Step 4: Select Bitcoin
Once you have made an AUD deposit on coinspot you can then start buying coins. Click the "buy/sell" option at the top of the screen. Find Bitcoin in the list of cryptocurrencies then click on "Buy BTC".Step 5: Buy BTC
Once you have selected your coin from the "buy/sell" menu all you have to do now is enter the amount you'd like to buy in either BTC or AUD. Be sure to review the full details of your order before you confirm the transaction.Once you've bought your coins you can view them in your account by clicking "Wallets" from the menu at the top. For extra security you may want to transfer your BTC tokens to an external wallet, you can search our site for the best BTC wallets.
How to buy BTC with Cryptocurrency
To exchange another cryptocurrency for BTC you may be able to do this with CoinSpot using the coin swap feature.Step 1: Transfer your coins
If you are storing your crypto in an external wallet, to use coin swap you'll first need to transfer the amount you like to swap to your CoinSpot wallet.Step 2: Swap your cryptocurrency for BTC
Once your coins are in your CoinSpot wallet, click "wallets" from the top menu and then click on the coin you want to swap.Click the sell button for the coin you'd like to swap, then choose the amount and select BTC from the coin swap list. Review the transaction details before you confirm.
How to sell Bitcoin
If you want to sell ticker tokens you can do so very easily. First you'll need to transfer your coins to your CoinSpot wallet if you are using your own wallet to store your coins.If your coins are stored on CoinSpot however you can sell your coins in a couple of clicks. Simply click on wallets from the top menu, select BTC, then click "sell BTC" you can then enter how much you want to sell and confirm the transaction.
What wallets can I use to store Bitcoin?
You can search our site to find wallets that you might be able to use for Bitcoin here: Bitcoin WalletsWhat is Bitcoin
Bitcoin is the original cryptocurrency released in 2009 by an unknown person going by the name of Satoshi Nakamoto, Bitcoin was the first cryptocurrency released and the first time we had seem blockchain technology.Bitcoin is a decentralized cryptocurrency that allows users to transact without intermediaries such as banks, these days Bitcoin is seen as a store of value like gold as there are many other cryptocurrencies now that have improved upon Bitcoins code and have evolved into more feature rich, faster, and more secure blockchains.
Newer cryptocurrency projects incorporate a range additional features including private transactions, smart contracts, digital Identification, and digital assets which with Bitcoins high price, shows how Bitcoin is a great store of value.
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