Australian Bitcoin Buying Guide: Where To Buy BTC Ter 2018 – Crypto News AU

Australian Bitcoin Buying Guide: Where To Buy BTC Ter 2018 – Crypto News AU

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The rapidly growing cryptocurrency market has exploded te value and popularity overheen the last year. Major cryptocurrency exchanges and brokers such spil Coinbase have experienced than 100,000 fresh users injecting the market every day spil Bitcoin hits the mainstream. With Bitcoin prices fluctuating strenuously, some are now telling it is a fine time to buy ter ahead of the unavoidable bull market.

If you&rsquo,re ready to get began with cryptocurrency investing, you&rsquo,ll need to embark by purchasing some Bitcoin. It’s the most popular and most trusted coin. This can be a difficult and confusing for newer investors, spil there are many different ways te which Bitcoin can be purchased.

Latest regulatory crackdowns around the world have placed Bitcoin under intense scrutiny, which has made it more difficult te some cases for investors to purchase cryptocurrency with fiat currency (such spil Australian dollars). The Australian Taxation Office has recently announced the creation of a fresh task force to maestro cryptocurrency transactions, which could potentially result te more stringent regulation of the Australian Bitcoin market.

Cryptocurrency investors te Australia have also bot inconvenienced by the &lsquo,big four&rsquo, banks refusing to provide financial services&mdash, including POLi payments&mdash, to cryptocurrency brokers. Te some cases Australian bankgebouw accounts receiving international money transfers from cryptocurrency platforms have had transactions frozen or accounts closed.

While thesis events have made purchasing Bitcoin slightly more difficult ter Australia, it&rsquo,s still relatively effortless to buy with the right method. Ter this guide, wij&rsquo,ll pauze down the five safest, simplest, and most reliable platforms that can be used to purchase Bitcoin te Australia.

What to Know Before Getting Commenced

Before getting leaping te and buying Bitcoin from any of thesis platforms it&rsquo,s significant to ensure you understand how Bitcoin wallets work. Ter order to receive your Bitcoin you&rsquo,ll need to provide the Bitcoin broker you&rsquo,ve chosen with a valid wallet address.

You may also want to learn how to keep your coins safe and consider investing te a hardware wallet such spil the Trezor or Ledger Nano S if you intend to purchase a large amount of Bitcoin.

There are a number of factors to consider when selecting a Bitcoin broker:

  • Payment methods: It&rsquo,s possible to purchase Bitcoin with payment methods such spil BPAY. Some platforms permit users to buy Bitcoin te person at a tópico newsagent. Due to latest disruption from big four banks both POLi and credit/debit card purchases are generally unavailable ter Australia, albeit some very compliant platforms still provide POLi payments.
  • Fees: A Bitcoin broker will charge a toverfee for their service, which will vary based on the payment method used.
  • ID verification requirements: All Bitcoin brokers operating ter Australia are required to serve with Know Your Customer and Anti-Money Laundering laws, which means you&rsquo,ll need to verify your identity before buying. The foot exception to this rule is LocalBitcoins, which makes it possible to purchase Bitcoin fully anonymously with specie ter person.

Wij’ll now proceed to pauze down the best Bitcoin brokers for Australian investors:

Coinbase

Coinbase is the undisputed king of cryptocurrency brokerage, and boasts almost 8 million users around the world. Based te San Francisco, Coinbase is available ter 32 countries internationally and supports a selection of cryptocurrencies that includes Bitcoin, Bitcoin Specie, Ethereum, and Litecoin.

The Coinbase toneel is not an exchange, and thus doesn&rsquo,t make it possible to actually trade Bitcoin, but does suggest hosted wallet solutions for all of the aforementioned cryptocurrencies. The Coinbase identity verification process involves both ID and phone number verification, but due to a massive surge ter users the verification process is delayed at the uur&mdash, some fresh users are reporting verification times of more than one week.

The fattest draw of Coinbase is the plainness and ease of use the verhoging offers. Instead of confusing fresh users with order books and trading screens, Coinbase produces a straightforward buying process that doesn&rsquo,t leave much to interpretation. Another drawback is that they restrict how much you can buy vanaf week, with thresholds enlargening with use.

Spil Coinbase is based internationally, it doesn&rsquo,t support POLi payments. The only way to purchase Bitcoin via Coinbase ter Australia is via credit or debit card, which requires identity verification. All Bitcoin purchases made via this method are instant, however.

Coinbase charges a rate of Trio.99% for all credit and debit card purchases ter Australia.

CoinJar

CoinJar wasgoed the very first Australian cryptocurrency toneel to launch with support from venture renta funding and, like Independent Reserve, offers exchange and hosted wallet services. CoinJar stands out from the crowd with a slew of features that include a dedicated smartphone app and even a &ldquo,CoinJar Swipe&rdquo, debit card that permits users to spend cryptocurrency directly te fiat currency.

It&rsquo,s possible to use CoinJar spil a elementary hosted cryptocurrency wallet anonymously, but ter order to purchase Bitcoin you&rsquo,ll need to verify your identity by providing proof of identity and proof of address documents.

CoinJar supports Blueshyft, which makes it possible to fund your Bitcoin purchases with contant ter person, ter addition to both BPAY and POLi. Not all Australian banks are able to use POLi payments to fund CoinJar accounts, however&mdash, a comprehensive list of supported banks is listed on the CoinJar webstek.

Both POLi payments and BPAY transfers are free from fees on the CoinJar toneelpodium while Blueshyft payments are subject to a processing toverfee of Two.5%. Albeit the fees are lower than Coinbase, wij have found the price of Bitcoin on CoinJar to be slightly more expensive.

CoinSpot

CoinSpot is an Australian FinTech company founded te 2013 with a fairly good reputation, good customer service, and an expending team due to high requests. CoinSpot also provides a competitive affiliate program receiving 25% of the commission fees they take on anyone you refer to them.

Te terms of of use, it’s webstek is fairly clean and is fairly effortless to use and buy Coins, with Bitcoin and overheen 20 coins listed. But like most other exchanges here you cannot trade coins, only buy and sell. If you want to trade other coins you’ll have to transfer your Bitcoin to an exchange such spil Binance.

POLi, BPAY and Metselspecie.

For Bitcoin and Litecoin the toverfee is 0.9% and for other coins it’s 2-3% depending on the coin.

Bitcoin.com.au

Bitcoin.com.au is a relatively fresh player te the Australian cryptocurrency market, but has gathered a large amount of support due to the guides it offers fresh Bitcoin investors. Instead of expecting investors to have a wallet address ready, Bitcoin.com.au provides step-by-step guides on how to set up mobile, desktop, and cold wallets.

Unlike the other platforms on this list, Bitcoin.com.au does not accept ongezouten transfers, POLI payments, or credit and debit card purchases. Instead, Bitcoin.com.au permits users to deposit metselspecie into their accounts te person at a multiplicity of locations and vrouwen.

Users that are interested te purchasing Bitcoin from Bitcoin.com.au will need to set up their own wallet independently, spil the verhoging does not provide hosted wallet services. Users are not required to submit to identity verification, but are restricted by a daily limit of $9,000 AUD te Bitcoin purchases.

The only way to purchase Bitcoin from Bitcoin.com.au is by creating a &ldquo,buy order&rdquo, via the webstek. After completing a buy order, users are provided with banking details and a reference number. Specie is then deposited into a Bitcoin.com.au handelsbank account with the reference number, and Bitcoin.com.au transfers the Bitcoin to the buyer&rsquo,s wallet address.

Bitcoin.com.au charges a 5% toverfee on top of the &ldquo,spot rate&rdquo, of Bitcoin, which is gathered from a diversity of exchanges with a discrepancy of 0.02-0.1%.

BTC Markets

BTC Markets is a slightly more complicated cryptocurrency toneelpodium geared towards experienced investors and traders. Based ter Melbourne, BTC Markets is a full-service exchange and offers hosted wallet solutions.

Purchasing Bitcoin on BTC Markets is slightly more complicated than the other platforms te this guide. Te order to buy Bitcoin with BTC Markets users need to deposit AUD into their account and then trade on the BTC Market BTC/AUD exchange. This process may be somewhat intimidating to newer investors, but does present a range of different order types for experienced investors.

BTC Markets supports both POLi payments and BPAY. POLi payments under $500 typically clear within minutes, while BPAY payments can take up to two business days.

Depositing AUD into a BTC Markets account with BPAY is free, while POLi payments incur a $Three.30 toverfee.

CoinLoft

Founded ter 2013, CoinLoft is another popular Australia-based cryptocurrency broker that offers a number of convenient payment options. Coinloft doesn&rsquo,t suggest hosted wallet services, which means you&rsquo,ll need to provide a valid Bitcoin wallet address when purchasing Bitcoin from the verhoging.

The CoinLoft identity verification process requires photo ID ter the form of a driver&rsquo,s license or passport spil well spil supporting documents. The payment methods suggested by CoinLoft deserve a special mention spil they are most convenient available te the Australian market&mdash, CoinLoft is one of the only Australian brokers that presently offerande POLi payments, and permits users to deposit specie into their account at any bankgebouw.

Interestingly, CoinLoft makes it possible to buy Bitcoin at your particular newsagency. Using the Blueshyft toneel, CoinLoft permits users to purchase Bitcoin at one of more than 1,200 participating newsagents with contant. CoinLoft also supports Flexepin, a service that facilitates the purchase of cryptocurrency via redeeming vouchers bought from participating retailers.

POLi Internet Banking and meteen deposit te contant with a supporting reference number at any handelsbank. Retail purchases via Blueshyft and Flexepin. Credit/Debit card purchases are supported by CoinLoft but are not presently available.

All purchases made through CoinLoft are subject to a 5% commission. Newsagency Bitcoin purchases made with Blueshyft incur an extra 2% retail toverfee, while Flexepin voucher purchases are charged a $Five.00 voucher toverfee.

CoinTree

CoinTree is an Australian cryptocurrency exchange that permits users to purchase Bitcoin spil well spil trade a multitude of different altcoins. Like Coinbase, CoinTree is designed with ease of use te mind and is geared towards newer cryptocurrency investors.

CoinTree has bot ter operation since 2013, and has gathered a significant amount of support te the Australian cryptocurrency community. The CoinTree toneel also provides users with hosted wallet solutions.

CoinTree offers a number of features that make it unique ter the Australian cryptocurrency ecosystem. The toneel offers the lowest rates te the Australian market, and provides fresh users with the capability to attempt a &ldquo,free demo&rdquo,. The free demo service permits users to test out the toneelpodium without committing to any purchases or potentially making any mistakes.

Interestingly, CoinTree also makes it possible to pay bills using Bitcoin. Users are able to pay any common Australian bill by injecting the biller code and customer reference number into the toneelpodium. CoinTree then provides the total converted rate into Bitcoin and pays the bill, fee-free.

CoinTree permits users to deposit metselspecie directly into their account at any Australian canap, spil well spil POLi payments. Credit card or debit card purchases are not presently supported.

CoinTree offers utterly plain fees &mdash, all Bitcoin purchases are charged a 3% rate, while all other transfers are free.

Específico Bitcoins

LocalBitcoins is insanely different from the other platforms introduced ter this guide. Using LocalBitcoins it&rsquo,s possible to purchase Bitcoin entirely anonymously with contant te person, but it can be somewhat riskier.

LocalBitcoins is essentially a marketplace that permits individuals to either buy or sell Bitcoin te person with specie or via handelsbank transfer, PayPal, and many other payment methods. To buy Bitcoin on LocalBitcoins you&rsquo,ll need to search for sellers ter your almacén area and select your payment method.

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LocalBitcoins provides users with a hosted wallet. When purchasing Bitcoin, a seller will place Bitcoin te escrow with the LocalBitcoins toneel. When payment is finish the seller will release the escrow to the buyer&rsquo,s wallet. If you determine to use LocalBitcoins to purchase Bitcoin anonymously always be sure to check the seller&rsquo,s profile pagina for positive terugkoppeling.

Metselspecie, Paypal, Canap Transfer, Película del Oeste Union, BPAY, SWIFT and more

The price of Bitcoin on LocalBitcoins is determined by the seller and varies insanely. You may find that purchasing Bitcoin anonymously is more expensive than using a more reputable broker podium. LocalBitcoins also charges a toverfee when Bitcoin is transferred to another wallet from their hosted wallet. An explanation of LocalBitcoins outgoing Bitcoin transfer fees can be found here .

Independent Reserve

Independent Reserve is one of the most popular options for purchasing Bitcoin te Australia, and operates spil a fully-functional exchange. This means that you don&rsquo,t necessarily need to set up a separate wallet to buy Bitcoin from Independent Reserve spil they offerande a hosted wallet solution&mdash, albeit moving your Bitcoin te an offline &ldquo,cold&rdquo, wallet is a safer bet.

The identity verification process for Independent Reserve involves both a standard photo ID and phone number verification process spil well spil an toegevoegd step ter which fresh users are required to confirm their account with a security code sent ter the mail.

Te addition to suggesting users the capability to purchase Bitcoin, Independent Reserve also provides an effortless to use exchange that can be used to sell Bitcoin for fiat currencies. Haber generated from the sale of Bitcoin on Independent Reserve can be withdrawn to any canap account te the world.

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Independent Reserve also supports Bitcoin Contant and Ethereum and permits users to trade ter USD, AUD and NZD.

Electronic Fund Transfer (EFT) is available to Australian residents only. SWIFT payments are also available. Independent Reserve does not presently support POLi or credit/debit card payments.

EFT Deposits under $100 AUD are subject to a $0.99 processing toverfee, while larger deposits are free. SWIFT deposits overheen $Five,000 are free, while smaller deposits are charged a $15 toverfee. Withdrawals from Bitcoin wallets hosted by Independent Reserve are free, spil are withdrawals ter AUD.

Final Thoughts

Despite strong resistance from incumbent financial institutions, Bitcoin is here to stay. Whether you choose to purchase Bitcoin from an exchange, a broker, or from an anonymous stranger on LocalBitcoins, always be sure to remain cautious and keep your cryptocurrency details very secure.

About the Author

Sam Town

Samuel is a freelance reporter, digital nomad, and crypto enthusiast based out of Bangkok, Thailand. Spil an avid observer of the rapidly evolving blockchain ecosystem he specializes ter the FinTech sector, and when not writing probes the technological landscape of Southeast Asia. Go after him on Twitter: @sam_town_writes

3 thoughts on “Australian Bitcoin Buying Guide: Where To Buy BTC Ter 2018 – Crypto News AU

  1. Suppose that I’m ter that situation you have described, I guess my fucking partner would know that I have bitcoin since during our joyfully married years, I waterput off time to join signature campaigns, buy, trade, etc. I don’t think I would divulge my bitcoin address and account but very likely i would be able to share that casually or unintentionally. During the court proceedings, I might leave behind everything about it because of hatred and despair and all those emotional and judicial roler coaster. If I’ll be asked by the lawyer or my playmate spilled it, then I have no choice but to admit that i have bitcoin then! I hope by that time, my playmate have more bitcoin than mij!

  2. Depending on your marriage contract, you might have to sell some of those coins to provide for the spouse spil agreed by the court or you have to give something else to arqueo out the books.

  3. It indeed depends if your spouse or playmate knows about bitcoin. And if you have kids too because if that’s the case, I’d rather give some bitcoins to my kids rather than give it to my spouse. And I think it will be worth it too if my kids would have them. But then again, it truly depends on how you both determine about them.

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