What is Bitcoin? Bitcoin is the world’s first digital currency and it is expanding in popularity worldwide. With the MetaTrader 4 platform you can trade this rapidly growing currency against the US Dollar 24/7. Many traders prefer to trade Bitcoin derivatives due to this asset’s highly volatile nature, which makes it ideal for traders.. How do I start trading Bitcoin? Dec 02, · Top 3 Bitcoin Brokers in Australia HighLow. HighLow is a popular investment broker that offers a variety of financial assets to invest in. The broker is eToro. It’s popularly used in Europe for CDF, Forex, and similar asset trading. Users can easily trade Bitcoins with Plus Plus offers. Bitcoin trading has never been easier with instant delivery and verification on CoinSpot’s trusted Australian platform. Bitcoin Trading Australia, BTC to AUD - CoinSpot - CoinSpot CoinSpot.
Trade bitcoins in australiaBitcoin Brokers Australia - How To Trade/Buy/Invest in Bitcoin
Disclaimer: We may receive a commission for purchases made through the links on our site. However, this does not impact our reviews and comparisons. Learn more about our Affiliate Disclosure. As mentioned above, Swyftx is our go-to for trading cryptocurrencies in Australia, definitely if you're starting out. It's the most trustworthy exchange available and it makes trading buying, selling and switching coins incredibly easy. Sign Up Here. After creating your account the first thing you'll want to do is SETUP MFA 2-factor authentication, adds an extra step for logging in to your account, very easy to setup , you can find this on your Profile page under "Security".
Before you do anything on Swyftx you'll have to verify your account. It has the fastest verification process we've tested so it won't take long. You will then have to fill in all of your personal information including documents, don't be alarmed uploading this information, every exchange requires it. It's to ensure your safety and make everyone on the platform accountable. You'll first need to deposit AUD on the platform so you can buy an sell cryptocurrency.
You can also deposit Bitcoin straight into the platform if you already have some and would prefer trading with that. This page lists all the coins that Swyftx has available which is a lot.
You can simply click on any of the cryptocurrencies in the left section under "Assets" or search for your desired cryptocurrency. Once you've decided what you want to buy you can indicate how much AUD you want to buy of each coin. Easy as that! You now have bought some cryptocurrency.
We highly recommend moving your cryptocurrency to a hardware wallet if you are planning on holding it for a while. If you are planning on day trading, or trading fairly regularly we suggest keeping it on the Swyftx platform. If you have already purchased Bitcoin on another platform then you can easily transfer it to Swyftx and sell it within their platform.
From there you can withdraw straight to your bank account. You can also easily sell it to another cryptocurrency within the platform. We highly suggest using Swyftx to buy and sell Cryptocurrency. We've done a comparison of the top 10 exchanges in the world for Australians to use and Swyftx clearly deserves the top spot.
Swyftx is by far our most recommended exchange for Australians. They have an easy to use platform and an online wallet that makes trading simple for new users.
They have a strong sense of community and are constantly posting updates and adding new coins to their portfolio. On top of this they have low fees and are upfront about any transaction fees they do charge whereas some exchanges charge much more in spreads. This is the most trusted exchange in Australia and arguably one of the best exchanges globally. Visit The Site. While Satoshi Nakamoto might have created one of the greatest technological feats of our time, sometimes buying cryptocurrency can be difficult.
The options include bank transfers, card purchases, paying with cash, using payment processors like PayPal, and even paying anonymously. Linking your bank account with your crypto exchange account has never been easier! The most popular Australian exchanges at the moment allow you to make swift and inexpensive bank transfers via the newest payment services. Swyftx, for example, accepts regular bank transfers that take around 3 to 6 hours to process only during business days and automated deposit methods using the following payment processors: POLi, PayID, and Osko.
All three of them offer instantaneous online and mobile transfers that notify the exchange when you make the payment so Swyftx can immediately approve your deposit. After depositing, you can very easily create a buy order in the exchange of your choosing and be the proud owner of some Bitcoin in no time! However, you should be aware that they could take up to one week because both the local and the overseas banks have to approve the transaction.
To speed up the process, you can purchase BTC from an Australian exchange and then trade the coins for your target currency on global crypto exchanges. The option to pay via credit or debit card is available for Australian traders on popular crypto brokers such as Coinbase and Coinmama, but not so much on local exchanges.
This is considered as reasonable pricing worldwide. CoinSpot provides a simple and easy to use interface with a wide selection of features. OTC trading is also available. This is an ad. We may receive compensation when you use CoinSpot.
Please visit CoinSpot for its exact pricing terms. Swyftx, established in , aims to make crypto buying super simple for beginners with an easy to understand user interface, great guides, fast chat support, and an app for every device. We may receive compensation when you use Swyftx. Please visit Swyftx for its exact pricing terms. Established in , CoinJar is the easiest way to buy, sell, store and spend digital currency. We may receive compensation when you use CoinJar.
Please visit CoinJar for its exact pricing terms. We may receive compensation when you use easycrypto. Please visit easycrypto.
It caters to retail users, traders, SMSFs and institutions. They use encrypted, geo-dispersed data centres and top tier underground vaults to protect your data and crypto. We may receive compensation when you use Independent Reserve. Please visit Independent Reserve for its exact pricing terms. Residents of Australia can use Coinbase to purchase bitcoins with a debit card. The fees are 3. We may receive compensation when you use Coinbase.
Please visit Coinbase for its exact pricing terms. Coinmama allows customers in almost every country to buy bitcoin. They charge a 4. Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama. We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins. It also offers unique features like copy trading.
Investments are subject to market risk, including the loss of principal. We may receive compensation when you use eToro. 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.