CoinSpot, established in , is a popular Bitcoin & cryptocurrency exchange based in Australia. CoinSpot provides a simple and easy to use interface with a wide selection of features. Users can deposit via POLi, PayID, BPAY, cash deposit or direct deposit. The exchange supports Bitcoin, Ethereum, Litecoin & + other coins. Jake is my broker and he goes above and beyond to make things happen for me at lightning speed. Quick email or text and its a done deal. Don't bother looking elsewhere, this is the place that makes it happen fast. Bitcoin's Bull Run. Melbourne VIC , Australia. Access our exclusive newsletter. Subscribe to our newsletter. Dec 03, · Regulated FX Brokers That Accept Bitcoin for Deposits/WD. Broker Min Deposit Spread Leverage Regulation Founded in , the company has its headquarters located in Melbourne, Australia. The.
Melbourne bitcoin broker9 Exchanges to Buy Bitcoin & Crypto in Australia ()
By speculating on the price movements, you can profit from shorter term price volatility, rather than holding onto Bitcoin for the longer term. The above brokers are essentially the best Bitcoin trading platform for Australian residents. ASIC is the main financial regulator in Australia and is very important so you can protect your money when trading.
The Bitcoin trading platform performance and ease of use is key to making your trading successful. All of these Bitcoin Trading platforms all have state-of-the-art interfaces which you can monitor your trades in real-time on your desktop or mobile device via their intuitive apps.
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. However, this has made it easier for some traders who do not want to disclose their card or bank details to the forex brokers to fund their accounts through Bitcoins.
The production of Bitcoin is limited to 21 million. It is expected that this will be achieved by Though there are a number of online exchanges where traders can buy Bitcoins in exchange for USD, euro, or other currencies, Bitcoins are often traded through the online platforms of a few reliable forex brokers.
Among forex brokers, the penetration level of Bitcoin is the lowest when compared with the other online payment options. However, Bitcoin offers the highest level of security and an opportunity for making payments without disclosing identity. This is unique compared to any of the other existing payment options.
Most e-wallets require traders to verify their identity by means of bank transfers, credit cards, or other documents. On the other hand, Bitcoin account holders can access their accounts without the need to go through any identification procedure. Therefore, the anonymity associated with Bitcoin seldom works when it comes to trading currencies.
This is to say that it works only if the trader wants to trade currencies without making withdrawals. Regulators also want brokers to obtain a lot of information from their clients prior to allowing them to trade currencies.
Having said this, here are some of the best regulated Bitcoin forex brokers you can consider working with:. In , FXOpen launched its online trading platform.
Pepperstone, an execution-only forex as well as Australia CFD broker , provides trading solutions that cater to both veteran and novice traders. Founded in , the company has its headquarters located in Melbourne, Australia.
AvaTrade, a pioneer in the field of online forex trading from onwards, was created for the purpose of providing great online trading experience to retail traders. Within a short time, AvaTrade had more than 20, registered customers executing over 2,, trades in a month around the globe. Plus offers CFDs on shares, commodities, indices, forex, etc. More than 4. Founded in in Tel Aviv, the multi-asset brokerage company has registered offices in Israel, the United Kingdom, and Cyprus.