Cryptocurrency was very mysterious to most people. You might have heard of Bitcoin long time ago, but wasn’t really sure what it is. It was often regarded as some sort of money that people use in the black market such as dark web. However, not long ago, Bitcoin price went up really high that attracted so many people. Since then, many developers, startups and companies have adopted the Blockchain technology, the heart of Bitcoin, and created their own cryptocurrencies, called altcoins, such as Ethereum, Ripple, Trons and so on.
So, now you have $100 AUD in your hands and you are wondering how to buy that popular Dogecoin that Elon Musk has been tweeting, or you are planning to invest in Bitcoin. Well, you are in the right place. In this blog, I am going to walk you through how you can buy cryptocurrency with Australian Dollars in very simple and easy way on some of the most well known and reliable exchanges in Australia.
To own a cryptocurrency, you need a digital wallet. Each cryptocurrency has its own wallet to store assets. Since it is decentralised, you are responsible to keep your wallet safe. However, it is not the case anymore. Since the popularity of cryptocurrency has increased, there are so many crypto exchanges which allow you to buy, sell and own cryptocurrency easily without needing you to create your own digital wallet for each crypto. Those exchanges will create wallets for you after you created an account.
Registering an account for the exchange is a lot easier than you think. It is much like how you register an account on normal websites. Once you are done with registration and verified, you are all set to deposit your first Australian Dollars and start buying cryptos.
First, register an account with your email. You will need Two-Factor Authentication for security.
Then, you will need to verify your identify by providing your driver license or national passport.
Finally, once you are verified, you will be able to deposit your Australian Dollars and start trading.
So, now you know how easy it is to create an account and start trading cryptos like many others are doing. There are quite a lot of crypto exchanges where you can buy and sell cryptos with Australian Dollars. However, the fees you will be paying for deposit and trading will be different. Some exchanges might not have a lot of cryptocurrencies available in the exchange. Here, we will be looking at some of the best crypto exchanges where you can directly deposit your Australian Dollars from your bank and buy cryptos right away.
Swyftx is an Australian based cryptocurrency trading platform, founded in 2017 by two Australian cryptocurrency enthusiasts and programmers in Brisbane. Swyftx offers a variety of cryptocurrencies, approximately 225 cryptocurrencies. It is known for its user-friendly design. You can deposit your Australian Dollars (AUD) by Bank Transfer, Credit Card, Debit Card, OSKO, POLi Payment and PayID. Unlike other existing exchanges, Swifty provides a quick and simple process to sign up, verify, deposit funds and begin trading.