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How to Buy Cryptocurrency in Australia

Are you excited to trade or invest in cryptocurrency, but you’re not exactly sure how to buy cryptocurrency in Australia? We’ll take you through the process and show you how to get in on the cryptocurrency revolution!

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When you’re looking to buy cryptocurrency, the first step is to choose a cryptocurrency platform (also known as a crypto or coin exchange). In Australia, BTC.com.au is the best place to buy and sell crypto coins, including popular coins such as Bitcoin, Ethereum, Litecoin, etc. Our crypto platform is designed around the service we provide and by offering our users an easy-to-use exchange based in Australia.

Many coin exchanges that operate outside of Australia will use USD, making it challenging to know what you’re spending, and you may need to pay international exchange fees. At BTC.com.au, you can buy Bitcoin and other cryptocurrencies in AUD, and you can make a deposit or withdraw funds to your linked banking account. As part of our services, we also offer a safe and secure crypto wallet that integrates with our cryptocurrency platform, making it easy to access your funds from anywhere you have an internet connection.

What are the benefits of using cryptocurrency?

Understanding the benefits of using cryptocurrency is an integral part of how to buy cryptocurrency in Australia. There are many benefits to buying crypto, and this includes a long-term investment or holding and selling later when the price has increased.

User autonomy

Many people do not realise that fiat currency (i.e., government-issued currency) is tied to the issuing country’s economy, which means governments and banks control the value of that cash. One of the main ideas of crypto is it removes the government and other external forces from its valuation. Many crypto coins have their value based on what the users think it is worth.

Pseudonymous

Cryptocurrency transactions are mostly pseudonymous. Many people think crypto transactions are anonymous, but this is not entirely true. While identifying information is not required, transactions can be identified using the blockchain address.

Peer-to-peer transactions

A transaction made using cryptocurrency can be completed on a pure peer-to-peer basis. When you buy an item using fiat currency, a few other players are involved, such as banks and communication networks.

Transactions do not attract bank fees

Many of the bank fees associated with fiat currency are hidden from the average person. However, when you buy an item in a store and online, the person taking the payment often has to pay a fee for processing the transaction. This fee is passed onto the consumer through a price increase. There are no banks involved with crypto transactions, so there are no bank fees.

Reduced transaction fees for international payments

International purchases will often involve hefty fees because you need to convert your fiat currency to another fiat currency, which will usually attract fees from your chosen financial institution. When you use cryptocurrency, there is no ‘middle man’ that needs to convert your funds. Making a purchase using crypto is easy because both parties accept that as payment.

Cryptocurrency is easily transported

Many governments will limit the amount of currency that can enter and leave the country. However, when you use cryptocurrency, you can take as much as you’d like. If you use a hot crypto wallet, you have access to your funds wherever you have a secure internet connection.

Accessibility

As you can send and receive cryptocurrency with any device with an internet connection, you have access to your money without a physical financial institution. This allows people to do business in many different places, eliminating the need for a third party.

How to buy cryptocurrency in Australia?

Many people are excited about crypto and are asking how to buy cryptocurrency in Australia. At BTC.com.au, we’ve made buying cryptocurrency easy. All you need is an account with our crypto exchange and to link your account to an existing Australian bank account.

Once your accounts are linked, you can make a deposit and then start trading in cryptocurrency. The cryptocurrency you buy through our coin exchange can be transferred to a wallet of your choice, or you can use the wallet that comes with your BTC.com.au account.

How to use cryptocurrency?

The original idea of cryptocurrency was to replace the need for physical currency. When you use cryptocurrency, it removes the need for a bank or government control. Transactions are completed between two people, and you can transfer crypto without involving any other organisations.

Some stores will accept crypto for payment on goods and services, and some governments are getting on board with crypto being used as legal tender. Currently crypto is not considered legal tender in Australia, but it is treated more as a traded item.

Many people prefer to treat cryptocurrency as an investment opportunity, and they’ll buy crypto when it has a low value and sell it later when the value increases. The value of some cryptocurrencies (BTC, ETH, LTE, etc.) can be volatile, but it is possible to achieve good returns on your investment with the right investment strategy. As crypto is considered an investment, you need to ensure you claim any profits on your taxes.

At BTC.com.au, we can show you many things to do with cryptocurrency, including converting BTC to cash, how to buy local Bitcoin, how to sell Bitcoin, how to use Bitcoin, and how to buy Ethereum. We can even help you how to buy things with Ethereum or Bitcoin. If you’d like to start buying and selling cryptocurrency, you can open an account with BTC.com.au and start trading today!

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