Dec 20, · The best thing about Bitcoin exchanges is that they tend to offer a variety of payment methods to their customers. That’s why we recommend Swyftx, an Australian brokerage that lets you make deposits and withdrawals via bank transfers, BPAY, PayID, OSKO, and POLi.5/5(15). Bitcoin Trading Australia Platform The above brokers are essentially the best Bitcoin trading platform for Australian residents. they have ground based offices and are ASIC regulated. ASIC is the main financial regulator in Australia and is very important so you can protect your money when trading. Compare The Best Cryptocurrency Brokers in Australia – Are you interested in trading crypto CFDs like Bitcoin and Ripple but are confused about where to start? To help, we’ve listed some of the leading CFD crypto brokers in Australia (all are ASIC-Regulated).
Best bitcoin brokers in australiaBitcoin Brokers Australia - How To Trade/Buy/Invest in Bitcoin
Both buying Bitcoin and Bitcoin trading have advantages and disadvantages just like any other form of financial speculation. Bitcoin trading Australia is performed via a CFD. CFD means Contract For Difference, which is the product you use to trade Bitcoin on one of the preferred platforms above. Crypto prices are fairly volatile vs normal stocks and currencies, making the price swing, even in a single trading day. You will then profit from any increase from the price you executed the trade at.
If the price goes down, you will profit from any decrease from the price you executed the trade at. Another key point is that, because Bitcoin has become so expensive, when you buy the Cryptocurrency using a digital wallet, it can tie up a great deal of your capital. Deciding whether or not to trade Bitcoin online depends on what your financial goals are.
Some of the reasons that Australian investors trade Bitcoin include:. All trading involves fees and are mostly made up of transaction fees and overnight financing. These trading fees cover the use of the platform and are known as the spread. These vary from market to market and trading platform provider. Overnight financing is a fee to keep the trade open when the markets are closed. These fees are similar to an exchange, where they charge you each time you transact in your digital wallet.
Below are the most common ways to trade. I would make sure you pick the strategy that resonates with you and how involved you want to be. The easiest will make you least profit vs the hardest, which is logical.
This is probably the easiest way to trade, but the least engaged as you look upon it as a long term investment. Trend Trading — this is where you take a trading position that mathes the current market trend. I the market is trending up bullish over time then you would go long buy , however if the market was trending down bearish then you would go short.
When the trend starts to look to change you would look to close your position, bank the profit and reopen reflecting the current trend bull or bear. Day trading — means just that, trading the rise and fall of the price over a single trading day.
This is the most intensive type of trading as you take advantage of the short term price movements. Hedging — this is where you take a longer term trade position and mitigate any exposure by open a trade in the opposing position to the one you already have open. This means you can cover potential losses in the shorter term as the market goes against your longer term trading.
Another part of a Bitcoin trading strategy should involve analysing the market to identify trends. All the trading platforms we list have very powerful charting coupled with news feed. Candlestick charts represent a very powerful technical analysis tool that can help you trend the market direction.
The broker has a CFD trading platform where you can also trade a number of cryptocurrencies including Bitcoin but also stocks like Tesla. Plus offers some of the best leverages on its platform for crypto traders. The trading software is intuitive to use and offers access to a vast number of markets. The software is mobile-supported on both Android and iOS. Plus is a great broker to choose for quality as well as to gain access to various markets.
Their platform is great for transitioning to Bitcoin trading. Read the Plus review. Choose your Bitcoin broker wisely. Consider all the options available before jumping in. Armed with the inofrmation provided by the above guide, you will be a step closer to mastering Bitcoin trade.
Bitcoin is the best-known cryptocurrency in the world. A cryptocurrency is a form of digital currency. In that, Bitcoins are not governed by a central bank like non-digital currency. Products can be purchased online with Bitcoins, but this is largely limited for now.
You can also buy and sell Bitcoins as a form of investment. This is the essence of Bitcoin trading. Investors buy Bitcoins and hold it as an asset, much like stock. If the price for the currency goes up in the future, you can sell again and turn a profit.
Bitcoin mining requires technical know-how and serious computing power. The easiest way to start trading Bitcoins is to buy it. Bitcoins can be bought directly online. You can also speculate on its price, much like a CFD. Both methods require a broker. Just like a broker is required to buy Forex funds or gold, you will need to go through one to buy Bitcoins. There is no exchange rate for Bitcoins.
When you have a good broker, you can formulate a trading plan for Bitcoins. Thanks to the popularity of Bitcoin, the number of Bitcoin brokers has skyrocketed around the world. If you are looking for a Bitcoin broker in Australia, you need to primarily check their legitimacy.
Bitcoin brokers from overseas companies must follow local regulations through subsidiaries established in Australia. The brokers set up these exchanges. Trust is important here, and you need to establish this first. After that, look at convenience. The Bitcoin broker must offer a user-friendly and convenient trading platform.
You can check out a particular software by using a demo, if offered. It would be advantageous if the trading platform has mobile accessibility as well. You will need to check Bitcoin prices quite regularly. Therefore, pay attention to the mobile-friendliness of any software offered.