Australia is a country with a booming economy. As a result, many investment opportunities are available in Australia that is waiting to be taken, like cryptocurrency.

The year 2021 saw a rise in the popularity of cryptocurrency, especially Bitcoin, and so did their trading. You might plan on buying Bitcoin in Australia but may not know how to.

Here is an easy-to-follow process to help you with your first Bitcoin investment.

Choose an Online Trading Platform Where You Can Buy Bitcoin

Before you buy cryptocurrency, it is essential to have a platform or a “wallet” to hold your currency. Most apps will require you to create an account, transfer currency (Australian Dollars) onto the app, and exchange the money for Bitcoin.

There are some considerations to think about when choosing an exchange platform:

  • Company legitimacy
  • Platform security
  • Easy to use
  • No fees and hidden charges
  • Reliable customer support
  • Amount of coins offered
  • Various trading features
  • Informational content
  • Mode of payment
  • Compatibility with AUD

Every person has their preferred goals that will dictate how they trade and invest in cryptocurrency. For example, some want many options of coins, while others look for Australian-based customer support that is more personalized.

You can Buy Terra crypto now in Australia, unlike before. However, choosing the right platform can be difficult with many international exchanges, including Australian exchanges in the market.

Remember to choose a platform that allows you to purchase Bitcoin directly with AUD. You can ask for the exchange via live chat or customer support to help you.

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Create an Account – Sign Up and Verify Your Identity

Once you have chosen an exchange suitable to your liking, you must sign up for the platform. The process is straightforward, like signing up for a social media account.

Upon accomplishing the sign-up step, the platform will verify your email. Of course, you will have to provide some form of identification that includes proof of residence.

The signing-up process is short and quick. It would only take a few minutes to set up your crypto wallet.

Provide Your Bank Account and Choose a Payment Method

Add a bank account to the wallet to make your purchase. Select a preferred payment method (the most common methods are Poli and PayID/Osko).

Deposit AUD into your account, which should not incur any fees.

Head to the Buy Section and Select the Cryptocurrency You Want to Buy

Now that you’ve set up a wallet, you can purchase any cryptocurrency, including Bitcoin. Look for the buy/trade option and select the cryptocurrency you want to purchase.

The actual buying process of Bitcoin is straightforward. However, you have to be smart and do a lot of research to time your purchases.

Read different materials regarding buying and investing in cryptocurrency to get the most out of your money. 

Enter the Amount You Want to Purchase, Check the Details, Confirm The Purchase

You are now ready to buy Bitcoin. Enter the amount you want to buy. Remember to check all of the details before confirming your purchase.

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A prompt will pop up to confirm your purchase. That’s it! You now know how to buy Bitcoin.

If you want to start buying Bitcoin in Australia, the process is easy. Follow this guide to know what to do if you’re going to start buying and investing.