Bitcoin Buying Guide Australia is based on cryptocurrency exchanges around the world, which buy and sell digital assets. The prices tend to be very close, and any differences are smoothed out by arbitrage traders who buy at one exchange and sell at another. You can check live crypto pricing data on your chosen exchange or via reputable price trackers like CoinMarketCap.

Bitcoin Buying Guide Australia: Complete Walkthrough

When buying crypto, make sure you use a trusted and secure digital or hardware wallet to store your coins. This is where you’ll need to enter your private keys, which are unique codes that authorise transactions on the blockchain network. A good choice for Australians is the popular Best Wallet, which is available in the App Store and Google Play and has an excellent customer rating. It also offers a range of features, including support for many popular cryptos such as ethereum, neo, cardano and dogecoin.

There are a variety of ways to purchase Bitcoin in Australia, including through online crypto brokerages and peer-to-peer exchanges. The former involves trading money for Bitcoin, which is usually done via bank transfer or credit card. You can also find a number of Bitcoin ATMs in major cities, which allow you to buy and sell BTC for cash.

If you choose to buy Bitcoin through an exchange, be aware that you’ll need to verify your identity and provide proof of address under Know Your Customer protocols designed to minimise criminal activity and identity fraud. This can add an extra layer of risk and delay to your purchase. You can also opt to buy Bitcoin from a P2P exchange, which connects buyers and sellers directly but requires extra care in choosing your seller.