CoinSpot Cryptocurrency Exchange
- Buy 250+ cryptos
- Range of payment methods
- 0.1% market order fee
- 1% instant buy fee
How to buy Bitcoin
Read our beginner’s guide to buying bitcoin (BTC) with step-by-step instructions.
Getting Started
Trading
Tools
Get exclusive money-saving offers and guides
Straight to your inbox
By signing up, you agree to the Finder
Privacy & Cookies Policy
and
Terms of Use, Disclaimer & Privacy Policy.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Buying Bitcoin is easier than you might think. The two main ways of buying Bitcoin are to find a Bitcoin broker and purchase directly or to visit a cryptocurrency exchange and buy Bitcoin on the open market. Bitcoin hit new all time highs in 2020, but make sure you educate yourself on all things Bitcoin before you dive into investing.
How to buy Bitcoin
1. Compare crypto exchanges
The easiest way to buy Bitcoin is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.
3. Make a deposit
Once verified, you can deposit AUD using the payment method that best suits you – bank transfer, PayID, POLi and credit cards are all widely accepted.
4. Buy Bitcoin
You can now exchange your funds for Bitcoin. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking "buy." If you like you can now withdraw your Bitcoin to your personal wallet.
Our top picks for buying Bitcoin
Top pick for
Beginners
Top pick for
AUD
Top pick for
Low fees
Top pick for
Trading
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
How we chose these exchanges
We reviewed more than 50 cryptocurrency exchanges compared in the table on this page. We looked at the beginner-friendliness, suitability for fiat currency purchases, fees, cryptocurrency selection and advanced trading features of each exchange to select a stand-out in each category. You can read more in our full methodology.
Bear in mind this isn't an exhaustive list of all the cryptocurrency exchanges out there. Some exchanges may be better for some situations and currencies. What's best for you depends on your own circumstances.
Quick guide: How to buy BTC
- Register for an account with a cryptocurrency exchange like CoinSpot.
- Enable 2-factor authentication.
- Verify your account.
- Click “Deposit AUD”.
- Transfer funds into your account.
- Click “Buy/Sell” at the top of the screen.
- Search for the cryptocurrency you want and click “Buy”.
- Enter the amount you want to buy, or the amount of AUD you want to spend.
- Review the transaction details.
- Click “Buy”.
This is our quick guide to just one way to buy BTC. Compare some other options in the table below.
Where to buy Bitcoin
What's in this guide?
Best Bitcoin exchanges
Beginners: Swyftx
The typical Australian cryptocurrency exchange has trading fees in roughly the 0.5% to 1% range, plus "hidden costs" in the form of widely varying exchange rates. In Australia, it's not unusual for cryptocurrency to be sold about 1% to 5%, or even more, above mid-market rates.
Fortunately, exchange rates is where Swyftx really shines. Comparing prices on Swyftx to several other brokers shows that Swyftx has considerably better rates.
And while its trading fees aren't outright the lowest, they're still quite competitive.
You can buy directly with AUD so there are no currency exchange fees, but there may be some costs depending on your deposit method and the amount of the deposit.
Using a non-free deposit method for a small deposit may add up a considerable percentage of the total, so it's worth bearing this in mind.
AUD purchases: CoinSpot
Cryptocurrency exchanges can sometimes be overwhelming, especially when it's a peer-to-peer exchange where buying means navigating the order books. Meanwhile, some cryptocurrency brokers will require users to have their own wallets, or burden users with too much detail or crowded interfaces.
CoinSpot does none of these things. It's a straightforward brokerage, with an optional peer-to-peer market on the side, and it provides its users with wallets for all supported cryptocurrencies. That it offers an exceptionally wide range of cryptocurrencies, all in one place, is an added bonus.
The registration steps are clear and the verification steps are clearly explained as part of the sign-up process.
Transaction histories are clearly displayed, fees are fixed and clearly shown, and you can denominate buy and sell prices in AUD or cryptocurrency as preferred.
CoinSpot has local customer service and it keeps extraneous features and information to a minimum, focusing on only the essentials. Plus, its palette is easy on the eyes.
Low fees: Binance
Binance is popular for a reason, with a wide selection of cryptocurrencies, a wide range of features and low trading fees. You'll simply pay a flat 0.1% trading fee at most when trading crypto to crypto, free AUD deposits are available and it's possible to reduce trading fees even further by taking advantage of the exchange's native cryptocurrency, Binance Coin (BNB), and simply paying your trading fees with BNB held in your exchange account.
There are different trading fee tiers, with lower fees for users who hold enough BNB coins and maintain certain monthly trading volumes.
Trading: eToro
eToro offers both crypto and non-crypto assets so you can trade various stocks and commodities on the same platform as your crypto.
It can be used by both beginner and advanced traders, and frequent and infrequent traders. eToro also offers margin trading, CFDs and advanced trade types. Notably, it also offers a copy trade feature which lets users copy the trades of other users.
A step-by-step guide to buying Bitcoin
You can buy Bitcoin in Australia in two simple steps:
Step 1. Choose a cryptocurrency exchange
The first step, if you've decided that buying Bitcoin is right for you, is to decide how and where you'll make the purchase. There are hundreds of platforms to choose from, but they can be separated into three main categories:
Bitcoin brokers
Bitcoin brokers are retailers that sell Bitcoin and other digital currencies. They offer user-friendly platforms and are the quickest and easiest way to buy Bitcoin. Brokers let you pay with fiat currencies (like AUD or USD) using familiar payment methods like a credit card or a bank transfer. Their main downside is that they often charge higher fees than other options. CoinJar and CoinSpot are two well-known cryptocurrency brokers.
Cryptocurrency trading platforms
These platforms, such as Binance and Independent Reserve, let you buy Bitcoin from other traders on the open market. Some exchanges let you buy with fiat currency, while others are for trading cryptocurrencies only and don't accept fiat deposits. They tend to offer lower fees and better rates than brokers, provide access to a more diverse range of coins and can also be used to actively trade cryptocurrencies. However, they're more complicated to use and require some basic familiarity with trading concepts, like the difference between limit and market orders.
Peer-to-peer (P2P) exchanges
Peer-to-peer exchanges are like noticeboards where people can post notices saying whether they're buying or selling Bitcoin, and what their price is. Buyers and sellers on peer-to-peer exchanges directly contact each other and make their own arrangements. This makes it possible to access a wider range of payment methods, such as cash, and trade with increased privacy. The downsides are that prices on peer-to-peer exchanges are often higher than the market exchange rate, and users need to be wary of scammers on these platforms. Examples of peer-to-peer exchanges include LocalBitcoins and Paxful.
Step 2. Buy Bitcoin
In most cases, the first step after choosing an exchange is to create an account by providing your email address. Depending on the exchange you use and the regulatory requirements it is subject to, you may also be required to provide your full name, contact information and proof of ID before being allowed to trade.
Once your account has been verified, you can make your purchase and pay for it. This looks different depending on whether you're using a broker, a trading platform or a peer-to-peer exchange.
When using a broker
Simply enter the amount of Bitcoin you want to buy, and the broker's website tells you how much it costs and what the available payment options are. Once you make your payment, the broker sends the Bitcoin to your account. From there, you can withdraw the Bitcoin to your personal wallet or send it anywhere else you want.
When using a trading platform
First, you need to deposit funds into your account. Once you've made the deposit, go to the market for the currency pair you want to trade. For example, if you want to buy Bitcoin with US dollars, you'd go to the BTC/USD section of the exchange website. To buy Bitcoin in that market, place a buy order. There are different order types, but if you simply want to buy at current market prices, you can place a market order.
When using a peer-to-peer exchange
Browse sell offers to find one with an acceptable price and a suitable payment method. Ideally, the seller will also have a good reputation score, and their notice won't raise any red flags. Contact the seller, tell them you want to buy Bitcoin and make a deal. Peer-to-peer exchanges usually use escrow services to protect buyers and sellers, but you should still be wary of scammers when using them.
How to store Bitcoin
After buying Bitcoin, it usually gets sent to your account on the exchange. While some people keep their Bitcoin in exchange accounts indefinitely, it's not the safest option. If the exchange goes out of business, gets hacked or if you somehow lose access to your exchange account, you could lose your Bitcoin.
That's why it's usually safer to store Bitcoin in a personal wallet.
To do this, you first need to create a personal Bitcoin wallet address. Then you can send Bitcoin from your exchange account to that personal wallet address.
Read the cryptocurrency wallets guide to learn how to create a personal Bitcoin wallet address, and what the types of wallet are.
CoinSpot Cryptocurrency Exchange
CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.How can I pay for my Bitcoin?
Not all exchanges accept all payment methods, so if you have a specific payment method in mind, it can be helpful to specifically look for an exchange that accepts it.
Different payment methods have their own pros and cons.
Buying Bitcoin with your bank account
Most Australian cryptocurrency exchanges will accept bank transfers and related payment services such as POLi Payments, Osko and PayID. These transfers are often free and near-instant, so they can be an excellent choice where available. Australian exchanges that accept these options include CoinSpot, Independent Reserve, BTC Markets, Swyftx and more.
BPAY transfers are also accepted by some exchanges, but these are usually much slower and may incur fees.
When using an overseas cryptocurrency exchange, you may see bank transfer payment options referred to as wire transfer or SWIFT payment. These payments will usually be much slower (they can take up to a week) and will attract significantly higher fees than domestic bank transfers, including currency exchange fees. If you want to use a specific overseas exchange, it may be preferable to buy cryptocurrency domestically with local currency and then deposit cryptocurrency onto the exchange instead.
Compare Australian cryptocurrency exchanges to find one that supports local bank transfers.
Buying Bitcoin with a credit card or debit card
Many Bitcoin brokers let you buy Bitcoin using your credit card, including platforms like Coinbase and Coinmama, and using your credit card allows you to make quick and convenient purchases. Trading platforms such as Binance have also started letting customers directly buy cryptocurrency with a credit card via third-party payment integrations.
However, in all cases, credit card transactions attract relatively high fees, typically in the 1.5% to 3% range. On top of that, they can also incur cash advance fees. Banks often don't look too favourably on these transactions either, and some have blocked customers from buying crypto with plastic. Debit cards aren't as widely accepted as credit cards but can still be used to buy cryptocurrency on some platforms.
Credit cards aren't typically accepted on peer-to-peer exchanges due to the risk of chargeback fraud.
Find an exchange where you can pay for Bitcoin with your credit/debit card.
Buy Bitcoin with cash
There are three main ways of buying Bitcoin with cash in Australia.
The most direct way is to use a peer-to-peer exchange, and arrange an in-person cash purchase with someone in your local area. Another way is to find a Bitcoin ATM near you, and deposit cash that can then be converted to BTC.
The third way is to pay with cash at a newsagent. Exchanges will generally refer to this payment option as "cash deposit" or "blueshyft". To use this, select the cash payment or blueshyft option on the exchange's website and enter the amount of Bitcoin you want to buy. The exchange will then create a QR code, which will typically be sent to your email address. Take this QR code to a participating blueshyft newsagent (there are over 1,000 participating newsagents in Australia), and let them know you're using the blueshyft service and which exchange it's for.
You can then pay the newsagent with cash, the newsagent can scan the QR code and the Bitcoin will be credited to your exchange account.
Australian exchanges that accept blueshyft payments include CoinSpot and CoinJar. Buying Bitcoin with cash can be as quick and convenient as other payment methods, but it also tends to be among the most expensive payment methods.
Get a complete list of exchanges that let you buy crypto with cash.
Buy Bitcoin with PayPal
PayPal is rarely accepted by cryptocurrency exchanges or other sellers, given the risk of chargeback fraud. This is when someone buys Bitcoin, but then requests PayPal reverse their transaction after they get the Bitcoin, so they get their money back and get to keep the Bitcoin.
If you've got your heart set on buying Bitcoin with PayPal, there are still some options though.
It's unlikely, but not impossible, to find sellers accepting PayPal on peer-to-peer exchanges like Paxful. And if you're more interested in Bitcoin's price action than the underlying asset, you can also fund an eToro account with PayPal.
A potentially riskier third option is a relatively obscure peer to peer platform called xCoins, which was specifically designed to facilitate PayPal for Bitcoin transactions. It's a little vague on how it works though and doesn't have the best security track record.
If you just want to draw down on your PayPal balance, you can also link your PayPal account to a credit card and then buy Bitcoin with that credit card.
Using PayPal can incur additional fees, and it can be difficult to find exchanges that allow it. But if you really want to use it, there are still a number of options.
Head to our full list of exchanges that support PayPal to learn more.
Buy Bitcoin with another crypto
If you want to exchange another cryptocurrency for Bitcoin, you'll be pleased to learn that BTC is listed in a huge range of trading pairs on a wide variety of crypto exchanges. The key is finding the exchange that offers the right features and fees for you.
You'll need to search for exchanges that list your desired trading pair, such as BTC/DASH, and then compare the pros and cons of each platform. Once you've found a suitable exchange, you can buy Bitcoin by following a few simple steps.
You'll need to do the following:
- Register for an account.
- Enable 2-factor authentication.
- Click on "Funds" and select "Deposits."
- Select the digital currency you want to deposit (eg, DASH) and then copy the relevant wallet address or scan the QR code.
- Transfer the digital currency into your account from your external wallet.
- Click "Exchange" and select either the "Basic" or "Advanced" trading view.
- Search for the pair you want to trade, such as "BTC/DASH."
- Select a Limit, Market or Stop-Limit Order.
- Enter the amount of BTC you want to buy in the field provided.
- Take a moment to review the details of your transaction.
- Click "Buy BTC".
The process may vary slightly from one platform to the next, so look for a how-to guide on your chosen exchange or contact its customer support team if you're unsure of what to do.
Buy Bitcoin anonymously
If you want to buy Bitcoin in the US, most exchanges will require you to verify your identity first. However, if you value your privacy, it's still possible to buy Bitcoin anonymously.
The following are some of the available options:
- Using a peer-to-peer platform like LocalBitcoins to trade directly with a Bitcoin seller.
- Using a Bitcoin ATM to anonymously deposit cash, have it converted to BTC and then transferred to your Bitcoin wallet.
- Buying Bitcoin with a prepaid credit card or cash via a platform that doesn't require ID.
- Trading altcoins for Bitcoin on an exchange that doesn't require proof of ID.
Check out our guide on how to buy Bitcoin anonymously.
Buying Bitcoin on CoinSpot
Want to buy Bitcoin from a cryptocurrency broker using Australian dollars? Here’s a step-by-step guide explaining exactly what you need to do, using Melbourne-based exchange CoinSpot as an example:Register for an account with CoinSpot
You can sign up for a CoinSpot account by providing your email address and creating a password. Before you can trade, you’ll need to verify your account by doing the following:
- Verifying your email address and phone number
- Uploading proof of ID and proof of residency
- Uploading a photo of yourself holding a handwritten statement
Remember to also enable 2-factor authentication on your account for extra security.
Deposit funds into your account
From your CoinSpot account dashboard, click the “Deposit AUD” link. You’ll then be able to access the necessary details to transfer funds into your account via POLi Payments or BPAY. Alternatively, you can opt to deposit cash at a participating newsagency via blueshyft.
Buy BTC
Click on the “Buy/Sell” tab at the top of the screen before clicking on the “Buy BTC” button. Specify how much Bitcoin you want to buy or how much AUD you want to spend, then take a moment to review the full details of the transaction before you click “Buy”.
How to choose a Bitcoin exchange
With hundreds of platforms to choose from, finding the best Bitcoin exchange for your needs is a challenging task. To make your choice easier, consider these key factors when comparing exchanges:
- Where the exchange is based and how it is regulated. Using local exchanges can be a good idea where possible. They're more likely to accept the local currency and local payment methods, which makes it easier to avoid expensive international transfers and exchange fees that may be incurred when making a deposit to an overseas exchange. It may also give you more recourse in case something goes wrong as well as additional protections under specific exchange or financial services regulations and any applicable consumer rights laws in your country.
- Security. Look at the security features a platform has to offer, such as 2-factor authentication and PGP-encrypted emails. Has it ever been hacked or linked to any suspicious activity?
- Fees. Check the fine print to find out exactly how much your transaction will cost. Depending on the platform you choose, these could include trading fees and transaction fees as well as deposit and withdrawal charges.
- Transaction limits. Are there any minimum or maximum limits on the amount of Bitcoin you can purchase? Does the exchange restrict the amount of funds you can withdraw from your account in any one transaction or 24-hour period?
- Supported currencies. As the biggest digital currency in the world by some margin, Bitcoin can be bought and sold on a huge range of platforms. However, if you’re looking to acquire other cryptocurrencies as well as Bitcoin, check to see what other coins you can buy through the platform.
- Customer support. If you ever have a problem with a transaction, will you be able to quickly and easily get in touch with the customer support team? Check what contact methods are available and find out how quick the team is at responding to enquiries.
- Reputation. Research Bitcoin forums and online reviews to find out what sort of experience other users have had with the platform.
Learn more about how to choose an exchange in our cryptocurrency exchange guide
Buying from an Australian Bitcoin exchange: Pros and cons
There’s plenty of choice when selecting a Bitcoin exchange, and Australian users can choose from platforms based here at home or in countries all around the world. So, should you buy Bitcoin from an Australian exchange or from a foreign platform? To help you decide, consider the pros and cons of buying on an Aussie exchange.
Pros
- Australian exchanges are regulated and must comply with AUSTRAC’s AML/CTF reporting obligations.
- You can usually buy Bitcoin with AUD.
- Australian exchanges support local payment methods, such as POLi Payments and BPAY.
- You can access local customer support.
- You get better consumer protection if your funds go missing.
Cons
- You’ll need to provide your personal details and proof of ID – a disadvantage for people who want to trade anonymously.
- Some bigger platforms based overseas offer much better liquidity.
- AUD to crypto prices are often higher than USD to crypto prices, meaning you sometimes pay a premium for buying directly with AUD.
- Some things are simply not available on Australian exchanges. For example, 100x leverage margin trading, and many altcoins.
Regardless of whether you choose an Australian or overseas-based crypto exchange, make sure you compare a range of options before deciding which platform to use.
The risks of buying Bitcoin
You wouldn’t invest in shares without doing your research first, so make sure you understand the following essential facts about Bitcoin before you buy:
- It’s volatile. Take a look at a graph charting the price history of Bitcoin and you’ll see straight away that its value is capable of rising and falling sharply in a relatively short space of time. Not only is Bitcoin volatile but, as a very new asset class, it’s also highly unpredictable. This means there’s a high level of risk associated with buying Bitcoin.
- Security is your responsibility. One of the core ideas behind Bitcoin is to remove intermediaries and middlemen from finance. It does this quite well, but this means that at the end of the day, you're solely responsible for the security of your Bitcoin. If you lose your private keys or get hacked, there's probably no one to help you and there's probably no way of getting your money back.
- Bitcoin transactions can’t be cancelled. Once you’ve submitted a transaction to the Bitcoin network, it cannot be cancelled. With this in mind, make sure you double-check the receiving address before sending a Bitcoin payment.
- Bitcoin is not anonymous. There’s a widespread misconception that all Bitcoin transactions are anonymous. This isn’t the case as your public address and the details of your transactions are visible to everyone. If anonymous transactions are an important feature for you, it may be worth researching privacy-focused coins, such as Monero.
- There are tax implications. If you hold Bitcoin as an investment, you’ll be taxed on any capital gains you make when you sell it for AUD or another cryptocurrency. Tax obligations also apply to Bitcoin mining, professional Bitcoin traders and to a range of other scenarios, so make sure you’re fully aware of what you need to report to the ATO. You can also check out our crypto tax guide for more information.
- You need to do your homework. To buy, sell and hold Bitcoin safely, it helps to do your homework. It's good to know how to spot scams, what the difference between private and public keys is, what it means when you "fat finger" an order on an exchange and whether it's called "the blockchain" or just "blockchain." If you're looking for a place to begin, try bookmarking our cryptocurrency hub for future reference.
Finally, it’s also worth remembering that Bitcoin is far from the only fish in the cryptocurrency sea. While it may be the biggest and best-known, there are more than 4,000 other cryptocurrencies available as of February 2021 (and growing). While the value of some of these coins is questionable, there are plenty of other digital currencies worth considering as alternatives to Bitcoin.
Bitcoin in brief
Bitcoin is the world's oldest and biggest digital currency by market cap. Created in 2009 by an unknown person (or persons) using the alias Satoshi Nakamoto, Bitcoin is a form of decentralised electronic cash designed to provide a viable alternative to traditional fiat currency.
Rather than having to deal with a centralised authority such as a bank to process transactions, Bitcoin holders can transfer their coins directly to one another on a peer-to-peer network. All Bitcoin transactions are tracked on a public ledger known as the blockchain, and people working as miners verify transactions and update the blockchain.
The maximum coin supply of Bitcoin is limited to 21 million, but it's possible to buy a small fraction of a coin – each individual coin can be divided down to 0.00000001 BTC. Find out more about how Bitcoin works in our comprehensive beginner's guide.
Other ways to get Bitcoin
Want to get your hands on some Bitcoin without actually buying it? There are a few options available:
- Charge Bitcoin for goods and services. You can request payment in Bitcoin instead of AUD.
- Mine Bitcoin. It's now extremely hard for any individual to make money from mining Bitcoin. However, if you're still interested, learn more about Bitcoin mining here.
- Earn free Bitcoin. Although time-consuming, there are a handful of legitimate ways to earn small amounts of free Bitcoin through online games and Bitcoin faucets.
Buying Bitcoin OTC
If you want to buy a large amount of Bitcoin, for example $50,000 or more, you may want to think twice before placing your trade on a traditional exchange. Not only will you be exposed to slippage, which can substantially increase the cost of your trade, but you'll also need to accept the risks of hacking and theft associated with traditional exchanges.
Over-the-counter (OTC) brokers can offer better prices, increased transaction limits and faster processing times to large-volume traders. Check out our OTC cryptocurrency trading guide to find out how buying OTC works as well as the benefits and risks you should be aware of.
Next steps
If you want to buy Bitcoin, start comparing a range of cryptocurrency brokers and exchanges. Look at their features, fees, security and overall reputation to decide which platform is the right fit for you.
You can then sign up for an account and get ready to start trading. However, make sure you research your purchase thoroughly and are fully aware of the risks involved before you buy.
FAQs
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Icons made by various artists on www.flaticon.com
Disclosure: At the time of writing, the author holds ADA, ICX, IOTA and XLM.
More guides on Finder
-
Cryptocurrency staking: How to stake coins for rewards
Staking is one of the most popular ways to earn an income with cryptocurrency – learn how to get started with this guide.
-
Bitcoin trading made simple
Build both your knowledge and Bitcoin wallet with this simple guide to trading.
-
Bendigo Invest Direct share trading review
Your in-depth review of the Bendigo Invest Direct share trading platform and what it offers for Aussie investors.
-
Elon Musk wants you to buy a Tesla using Bitcoin – and it’s a bigger deal than you think
Institutional investment in Bitcoin grows to $57 billion as Tesla and Microsoft both explore accepting Bitcoin payments
-
How to buy Robinhood stock from Australia
Robinhood is set to go public as soon as June. Here's what you need to do to buy in from Australia.
-
How $1.9 trillion of stimulus could push Bitcoin’s price to a new all time high
There is no shortage of reasons why Bitcoin to surge past $80,000 to a new all time high, with $1.9 trillion of freshly printed US dollars on the way.
-
Polkadot (DOT) cryptocurrency: How it works and where to buy
Learn more about the DOT cryptocurrency in this beginner’s and buyer’s guide.
-
The best Sony PlayStation 3 games of all time
While it’s only recently retro, the PlayStation 3 is home to a lot of really great games – but which ones are the very best?
-
How to invest in the BTCC Bitcoin ETF
The world's first physical Bitcoin ETF has launched onto the stock market. Here's how to invest if you're in Australia.
-
Filecoin: How it works and where to buy
Learn more about the Filecoin cryptocurrency in this beginner’s and buyer’s guide.
Ask an Expert
Thank you very much for sharing it’s a very useful article and hope to read more about your experience.
Hi, What exchanges were around in 2009 for Australians to buy Bitcoin?
Hi Julian,
Thank you for leaving a question.
There were no Bitcoin Exchanges back in 2009.The first exchange was founded on 17 Mar 2010, the now-defunct BitcoinMarket.com exchange is the first one that starts operating. Hope this helps!
Cheers,
Reggie
Hi, I have been trading the FX market for a few years and I am now looking to try Crypto Currency trading.
Do Coinspot, BTC or Independent Reserve offer a trading platform, by this I mean a charting package so I can get in and out of long or short trades based on price movement displayed on a chart.
I have made a mistake in the past of trading Crypto CFD’s and found the expiration of the contract a real problem, difficult if you wish to hold onto a trade.
So, yes, I want to be able to buy/sell for either short or long term at my discretion and I would prefer some sort of charting package included in opening an account.
Thanking you in advance.
Hi Martin,
Thank you for your inquiry.
Thank you for sharing this information with us. You may want to look at the forex exchanges that offer cryptocurrency. They may offer charting packages and maybe a familiar option for an FX trader. Our page has a comparison table you can use to see which platform suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to their website where you can sign up or get in touch with their representatives for further inquiries you may have.
I hope this information has helped.
Cheers,
Harold
Can I transfer from PayPal to my bitcoin wallet
Hi,
Thanks for your inquiry.
If you’re looking for alternatives such as paying with cash, BPAY, credit card or PayPal, you might have to search more widely. You can select the payment method you want among their list of supported payment methods. Kindly note that it’s important to research a payment method and check its risk level before you start trading with it.
Best regards,
Rench
I have been offered to make 13,000 dollars in 24 hours by the inventors of bitcoin. Are they for real?
Hi Joe,
Thanks for reaching out to Finder.
Bitcoin, like other crypto coins, is extremely volatile and the value of the currency remains unpredictable. News and seemingly unrelated events affect its price greatly, sometimes positively, sometimes negatively. However, if you’d like to take the plunge and invest in bitcoin, here are two ways to do that:
– Get paid in bitcoin
– Invest in bitcoin
Hence, we cannot give information if this is legit or not. In the meantime, what you should do to check the legitimacy of this platform is to go through reviews, forums, or other pages online to research about them. You can also go through our checklist on how to detect a crypto scam. Please be reminded that this checklist is far from foolproof. It is still possible for a website to pass the tests and still be a scam. The important thing to remember is to do your due diligence before providing any personal or financial information to any website or app.
Best regards,
Rench
Hi Guys, I am interested in investing bitcoin (all types of bitcoin like 40x bitcoin) is there any legit sites out there, I mean real site.
Thanks for your help :)
regards,
Nelson
Hi Nelson,
Thanks for your inquiry.
Our guide on how to buy Bitcoin in Australia has a table that outlines some sites and companies which facilitate the purchase, exchange, and sale of bitcoin. You can use our comparison table to find the right trading platform for you. Once you have chosen a particular bitcoin exchange, you may then click on the “Go to site” button and you will be redirected to their website where you sign up for an account or get in touch with their representatives for further assistance.
Please verify the nature of any product or service (including its legal status and relevant regulatory requirements and consult the relevant regulators’ websites) and consider your own circumstances before making any decision. Cryptocurrencies are speculative, complex, and involve significant risks:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service, or offering. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Hope this information helps
Cheers,
Arnold
is $1000 enough to invest in bitcoin and make a decent amount of money? if not how much money should i invest in bitcoin
Hello Cameron,
Thank you for your inquiry.
There is really no straightforward answer to this question except that you should only “invest as much as you’re willing to lose”.
Bitcoin is a highly-volatile form of investment and fluctuations can be more rapid than trading stocks. Even with low buying capital, if trading goes robustly upward, you can have significant gains. There can also be instances when you had huge capital but dismal returns due to a flat movement.
If you need professional advice on how to proceed, you can speak to a bitcoin broker or a financial adviser.
Hope this helps.
Cheers,
Jonathan
I am inquiring about the cost of purchasing one 40 X bitcoin. , in Australia dollars.?
regards Siga
Hi Siga,
Thank you for your inquiry.
As per checking you are already in the correct page. You can click the go to site link available above for further details.
I hope this information has helped.
Cheers,
Harold
What is the min amount to open a wallet an how do i go about it
Hi Frederick,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
That would depend on where you will be setting up an account or a wallet. You may review and compare the options or websites available on the table above and see which one would suit your needs. You can proceed by contacting them directly for additional information.
I hope this helps.
Cheers,
Danielle
I wish to buy bitcoin but cannot find a way. Is there a market?
Hi Frank,
Thank you for your inquiry.
I understand you want to know how to buy bitcoin. If this is the case, I believe you’re on the right page. On this page, you will read our guide on how to buy Bitcoin in Australia. You should be able to check our step-by-step instructions for getting started with Bitcoin (BTC).
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Harold