How Can I Buy Bitcoin

Caroline Bowler

How To Buy Bitcoin in Australia

Buying Bitcoin in Australia is easy with BTC Markets. The world’s most popular cryptocurrency is synonymous with the industry and many Australians are wondering how they can open an account and start trading in a safe and reliable way. Bitcoin can be a great addition to your investment portfolio depending on your comfort towards potential volatility and appetite for risk, and like any other investment, you should always do your own research before making any investment decisions.

With the increasing interest in Bitcoin and other cryptocurrencies (known as altcoins), many Australians are looking to get on board and join the cryptocurrency revolution, which has taken the world by storm.

Buying Bitcoin in Australia?

Before you get started with buying Bitcoin, there are a couple of things you’ll need to be aware of. First of all, you will need to find a cryptocurrency exchange that sells it (which is different from a regular stock exchange). These exchanges specialise in the sale of cryptocurrencies. Second of all, you need to be aware of the two main ways in which you can store your Bitcoin once you have purchased it: using hot wallets or cold wallets.

Hot Wallets

Hot wallets are web-based and can include the exchange platform you are buying and selling Bitcoin and other cryptocurrencies on, in both desktop form and as a mobile app. A hot wallet can also be a dedicated, online wallet that you can transfer your cryptocurrency to, that is compatible with certain external hardware wallets (known as a cold wallet). Generally speaking, because a hot wallet is connected to the internet, it is more vulnerable to security issues (such as being hacked), than a cold wallet is.

Cold Wallets

A cold wallet, as mentioned above, is a physical hard drive that you connect to your computer, load up with your cryptocurrency, and then unplug and store in a safe place. A cold wallet is a more secure option for storing your cryptocurrency since for someone to hack and steal its contents, they would need physical access to the hardware. A cold wallet is usually the size of a USB drive, but there is one catch: if you misplace your cold wallet, that means you have lost all access to your cryptocurrency as well, so it is always best to store it in a safe location—in fact, buying an actual safe, and keeping it in there, is advised.

Create a BTC Markets Account to Buy BTC in Australia

The best way to buy Bitcoin in Australia is to sign-up for a BTC Markets account. BTC Markets is Australia’s largest, most trusted cryptocurrency exchange, with more than 350k users on our platform, who have traded more than $23bn.

Create your account and start trading in three easy steps:

1. Create

Sign up and verify your free account.

2. Deposit

Add AUD or crypto to your wallet using one of our secure deposit methods.

3. Trade

You're ready to place your first trade! You can buy, sell and trade BTC immediately.

Why Buy Bitcoin With BTC Markets?

Best-in-class cybersecurity

BTC Markets is renowned for its cybersecurity protocols. They were the first exchange in Australia to be Gold Certified by Blockchain Australia, are registered as a Digital Currency Exchange with the regulator AUSTRAC, and also have been awarded the much-coveted ISO 27001 Information Security Management certificate by the British Standards Institution (BSI). If you’re wondering how to buy Bitcoin safely, then BTC Markets is your best bet.

Suitable for retail and institutional investors, as well as self-managed super funds

BTC Markets is a great platform for both retail and institutional investors looking to invest in some of the most popular cryptocurrencies. Whether you are just starting out and want to dip your toe in with a small amount until you feel confident trading more, or you are a seasoned investor who wants to start trading large amounts right away, the BTC Markets platform is perfect for both types of investors.

BTC Markets also offers trading services to those with self-managed super funds. In fact, in 2020, the crypto exchange’s self-managed super funds clients grew by a multiple of five—showing that more and more Australians are looking to take greater control over their superannuation and the types of assets they gain exposure to. As with other investment strategies, it is usually a good idea to diversify your holdings to mitigate a portfolio’s total risk, while allowing the fund to benefit from market fluctuations in different market and asset categories.

BTC Markets also offers Over-the-counter (OTC) trading for those investing large sums of money per transaction. These types of clients are eligible for lower trading fees that are on a sliding scale, depending on the amount they are investing. Those conducting OTC trades will receive a direct line to a personal account manager who will talk them through the trade over the phone, from consideration to execution. Additionally, family offices and trusts are also accepted by BTC Markets as clients.

Easy-to-use platform

The exchange is easy to use for both newcomers and seasoned investors. The interface is clear and simple to navigate, offers a dark mode for your viewing preferences, and allows you to start trading with both fiat and Bitcoin. You can view live charts that show market price fluctuations, the 24-hour high and low of the crypto asset as well as the percentage appreciation or depreciation, the bid and ask price, and volume traded, amongst other options. This holistic overview of the cryptocurrency market makes it easy to not only see exactly how your investments are performing but to see in real-time, other cryptocurrencies that may spark your interest for investment consideration.

It’s Australia’s largest exchange

BTC Markets is the preferred cryptocurrency exchange for Australians. It has the largest customer base and by far the most volume traded, which is more than 15 billion dollars. It is also one of Australia’s oldest exchanges, having been founded in 2013—well before Bitcoin and cryptocurrencies hit the mainstream. They also have excellent customer support and release new features regularly, making the user experience smooth and reliable.

The BTC Markets team is amongst the best in Australia, and the crypto exchange is often mentioned in mainstream media and features on premier industry panels alongside everyone from MasterCard and PayPal to Government regulators and politicians. In this respect, BTC Markets is taken seriously as an industry leader in Australia’s cryptocurrency scene, making it the preferred crypto exchange platform for a majority of Australians.

You can also learn more by downloading the Bitcoin Whitepaper here.

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