Can I buy Ethereum with AUD?
Australia is one of the countries with the best reception towards cryptocurrencies in the world, considering that even businesses of different types currently accept payments in Bitcoin and other cryptocurrencies for their services. Buying Ethereum, Bitcoin or any other cryptocurrency is completely legal and possible within the legal and commercial frameworks of Australia, making this market quite open to the public. Therefore, Australian residents will be able to choose between different methods to acquire ETH tokens and use them as they see fit, as long as they report any income obtained with this type of investment to the ATO (Australian Tax Office).
A short history of Ethereum price
Ether is not as volatile a cryptocurrency as Bitcoin, although it has also seen huge price rises since it was launched on the crypto market. Ethereum launched its token on the market on July 30, 2015, and peaked on January 12, 2018, when it surpassed AUD 1,820, although it would soon drop back to AUD 1,200 and start looking for old support levels.
The price of Ether will always remain active because in addition to being used as a trading pair and placing orders in long or short (buy or sell), it works around the Ethereum platform, where it is used to manage the trade of decentralized applications. In addition, important news such as updates and positive reviews from influential personalities also influence the start of new trends that send the price of Ether to different levels.
For now, the price of Ether marks AUD 547, a level that has already been crossed several times on previous occasions and in this case, is heading towards AUD 600, which could indicate that (if it breaks resistance points), ETH will be at your way to old price highs. Logically, this will be extremely convenient for those who have been buying ETH so far.
The first time ETH explored these price zones, it shot upwards in a bull run that would exceed AUD 1000, a rise that coincided with the bull run that Bitcoin had back then. Conditions were expected to repeat these days, so we should check the market frequently and follow the next possible moves.
When is the right time to buy Ethereum?
Thinking of a medium/long-term investment, the exact time to buy Ethereum here with your AUD is now, considering that it is on its way to exploring price areas much higher than the current one and the adoption of cryptocurrencies has increased greatly in recent years. It is also still a good time to trade ETH in the short term taking advantage of price movements and making sure to sell before entering bearish scenarios.
Assuming that a person invests AUD 1,000 in ETH at $500 and increases towards expected levels such as $600- $650, they would be earning $150 for each ETH acquired (2), making a total profit of $300, thus increasing your investment power. With this in mind, we are at a very good time to start buying ETH, although even better for those who have already managed to accumulate a significant amount of tokens.
Where to buy Ethereum with AUD?
Contrary to what many beginners believe, you can not only buy ETH with Bitcoin, since you can buy Ethereum tokens directly with AUD and/or other cryptocurrencies. For this, there are different exchange companies where you can buy ETH at excellent rates and even use the service as a wallet to store your tokens.
It is necessary to consider that, if you have a beginner level of experience, using some of these platforms to process your orders can be somewhat complicated, especially if we take into account that some only accept deposits in crypto and their interfaces are somewhat complicated for someone who is starting In the area. Therefore, it is recommended to use local platforms with a friendly interface that can guide you through the buying process.
Easy Crypto Australia (AU) is a highly practical and easy to use local exchange platform since you can buy multiple digital assets with AUD and other cryptocurrencies (if you wish). To buy Ethereum easily in Australia, you only have to register on the platform, verify your account through a KYC process and you can start to collect your ETH tokens.