You may be a sceptic, but it’s almost impossible not to have heard about Bitcoin or cryptocurrency. You’d literally have to be living under a rock. The one thing most people know is that you can’t purchase cryptocurrency from your bank, because the government doesn’t own it. In place of banks, cryptocurrencies have exchangers who’ll take your fiat money and switch it to the digital currency of your choice. Here’s where to buy cryptocurrency exchange in Australia.
Places You can Buy Cryptocurrency in Australia
#1. CoinSpot: is Australia’s very one exchange service. It began operating since 2013 and has made a name for itself as one of the most reputable exchangers within the industry. CoinSpot is registered with AUSTRAC, Australian’s digital currency service. Verification process is instant, especially for citizens. It has various payment options, including all Australian banks, POLi, BPAY and PayID. CoinSpot acts as both buyer and seller.
#2. Coinmama: is an Israeli based exchanger that began operating in 2013. Verification process is a little slow, but the more information you provide about yourself the more cryptocurrency you can purchase through them. Coinmama primarily accepts Visa and Mastercards, and offers only buy options to its customers. If you have Bitcoin you need to sell, you’ll have to look elsewhere.
#3. Coinbase: is internationally considered one of the premier cryptocurrency exchange services. Their services are available to a lot of countries, including Australia. You can get a bank account and credit card with them, but they charge 1.49 and 3.99% fees on each of them respectively. Coinbase is an all-you-can-eat buffet of cryptocurrency trading, offering buying/selling options, as well as wallets on their exchange for you to store your digital currency. It’s generally adviced that you get a separate wallet, from Apple or Playstore, for your cryptocurrency instead of relying on an exchange’s wallet.