How to buy Bitcoin


This space is growing so quickly it would be easy to forget that when this site was set up 1 Bitcoin was trading for $3579 on 17th June 2017.

The original analogy was given that buying Bitcoin is similar to buying foreign currency before going on an overseas holiday.

In some ways the analogy still applies. When choosing the exchange you want to use, research the deposit fees, transaction fees, withdrawal fees. Also look at how long the company has been in business, what industry affiliations they have and do they have a good reputation.

There are hundreds of exchanges in Australia.  You will probably need to give them similar information as if you setting up a bank account due to government regulations. Some of the more popular exchanges include:

Independent Reserve: Give you the option to set up a Personal, Company or Superfund Account. You can also set up an auto buy option for new deposits.

Coinjar: Give you a very easy to use interface either via their website or app for both Android or Apple. They also offer a debit card to assist with spending crypto.

Btc.com.au: Also offer a crypto debit card.

Coinspot.com.au: Have an easy to use interface and multiple options to buy various baskets of currencies in a single transaction.

Binance quickly became a household name in the crypto world, and now have a local Australian presence.

Two of the biggest exchanges in America other than Binance are Coinbase and Gemini.

Where ever in the world you are if you can check on sites like https://coinmarketcap.com/ on which exchanges the coin you want is traded

Whichever you choose check deposit, trading and withdrawal fees as well as their buy and sell prices.

Localbitcoins.com: Offers multiple options for in person transactions. (Use at your own risk)

or try https://coinatmradar.com/

The choice is yours.

Which ever you use make sure they are reputable and don’t risk leaving more on any of them than you are comfortable with. You can choose any exchange to buy bitcoin with, just make sure they are reputable and you store your crypto long term in a desktop or cold storage wallet.

* All trading involves risk. Only risk capital you’re prepared to lose
* Past performance does not guarantee future results.
* The content of this page is intended for educational purposes only, and shouldn’t be considered investment advice