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Learn all about cryptocurrency and how to buy it in Australia, in this guide you will learn everything you need to know to get started purchasing cryptocurrency in Australia.\n\nWith this guide find out the best and highly recommended Australian cryptocurrency exchange for purchasing Bitcoin, ethereum, litecoin, ripple, and many many more.
How to buy Bitcoin in
Cryptocurrency guide for Australia
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized
digital currency, as the system works without a central bank or single administrator. The
network is peer-to-peer and transactions take place between users directly, without an
intermediary. - Wikipedia
At the core Bitcoin and many other cryptocurrencies are powered by a new technology
called blockchain, which is a new revolution in the technology industry and will change
the way we do everything in the future.
Bitcoin was the first Cryptocurrency to be created and the media has made it hugely
popular, often being referred to as digital gold.
What can I do with cryptocurrency?
Ok so now we know what cryptocurrency is what can we do with this technology? Well
people have some really great ideas for fantastic uses of this technology and there are
many startups utilising this technology to revolutionize many different Industries.
Currently you can use cryptocurrency to buy products or services online, sign
documents into the blockchain, store files online, create smart contracts and much
What are the benefits to holding Bitcoin?
Here are some of the benefits to using and holding Bitcoin and other cryptocurrencies.
● Irreversible transactions - crypto currency transactions are not reversible for any
reason, unlike credit card charge backs.
● No paperwork
● Appreciating value - the value of cryptocurrency is volatile but as there is a
limited supply, the value will continue to appreciate as there will only ever be
21000000 bitcoins ever created.
● Quick and cheap transactions - where bank transfers typically take a couple days,
cryptocurrency can take as little as 5 seconds to have your money transferred
● No need for a middleman
● No corporate or government interruptions - cryptocurrency is peer to peer and
distributed with no way for governments to control it.
● Purchases are not taxed
● User anonymity - no need to register to get started, cryptocurrencies don't store
any of your personal information.
● Mobile payments - pay with your phone super quick and super easy.
● Universal value - no need to check the exchange rate of a different currency,
crypto currencies are universal and 1 BTC in China is the same as 1 BTC in the
● No Central authority - as cryptocurrency is peer to peer and runs on hundreds of
thousands of computers around the world, if one computer or even one whole
country goes offline you will still be able to access your money.
● Cannot be manipulated - bitcoins are digital and have fraud protections in place,
you cannot duplicate a Bitcoin, you cannot reverse a transaction, the blockchain
is cryptographically secure.
● Use it anywhere anytime - spend your cryptocurrency from anywhere in the world
at anytime you like, and send money in seconds.
● Control over your money - with a conventional Bank, your bank has control over
your money, but when you use cryptocurrency you have control over your money,
you also have the responsibility of securing your own wallet.
Buying Bitcoin and cryptocurrency in Australia
Buying cryptocurrencies is a very similar process compared to if you were buying
foreign money for an overseas trip, the key component is the exchange, and exchange
allows you to transfer between different types of money.
A cryptocurrency exchange allows you to purchase various types of cryptocurrency with
Australian dollars (AUD), the main way a crypto currency exchange differs from a
foreign exchange is that the exchange between Australian dollars and cryptocurrency is
all done online, you don't need to go to a physical place like a bank, it's all processed
over the Internet which means you can do it from anywhere in the world.
Which Australian cryptocurrency exchange should I
There are a range of Australian cryptocurrency exchanges available online, but it's
important to choose one that is right for you, one that has the features that you need
whether you want to buy and hold, or whether you want to trade.
CoinSpot is one of the easiest Australian cryptocurrency exchanges available at the
moment, you don't have to worry about all the terminology used on typical exchanges,
don't worry about buy and sell orders, just say how much you want to purchase and
place the order, your coins will be instantly transferred to your coinspot account and it's
as easy as that.
You can purchase a range of different cryptocurrencies on the platform including
Bitcoin, Litecoin, Ethereum, Ripple and many many more.
CoinSpot cryptocurrency exchange - Highly
Click here to sign up for your FREE CoinSpot account and start trading cryptocurrency
How can I stay up to date with cryptocurrency and the
various regulations coming into effect?
You can remain up-to-date by following various social media profiles of government
departments such as the ATO, the news, the social media profiles for the
cryptocurrencies themselves, as well as many independent bloggers online including
https://bitcoinaussie.tumblr.com who posts news tips and tricks relating to Australian
Good luck and happy trading!
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