How to Purchase Cryptocurrency in Australia?
To purchase cryptocurrency in Australia has never been so easy. Depending on your knowledge of the crypto world of course, but even for beginners, we will help the process be less daunting so that even your Grandmother can quickly purchase some!
First and foremost you will need a wallet. We won’t go into wallets in this article so we can stick to the actual purchasing of cryptocurrency and focus our efforts on the process directly. Visit our Learn-page to learn all about the best Australian cryptocurrency wallets.
To purchase cryptocurrency in Australia you will need the following:
- A digital wallet capable of receiving the cryptocurrency you are choosing to invest in.
- Identification, for example, Australian Drivers License, Australian Passport If you cannot provide these we have an extensive list we can accept which is case by case but most exchanges will endeavor to assist you with any of these queries.
If you are planning on purchasing larger quantities, for example, $10,000 per day limit, $25,000 cumulative, that is no problem at all but more documentation and control measures are in place. So you may be asked to provide proof of funds or proof of income for example. These rules are in place Australia wide to protect against fraud.
- A phone capable of taking digital photos. The majority of Australian exchanges require a photo of yourself holding up your identification so that we can identify you as matching your documentation. Here at Easy Crypto, we have an automated process to check your identification which we will go into in this article.
- An Australian bank account with the funds necessary for the purchase
- An Email address
- You must be an Australian Citizen, Australian Resident or Permanent Resident
How to Purchase Cryptocurrency in Australia with Easy Crypto?
Now that we have looked at what is required to buy cryptocurrency in Australia, let’s look at how to do so. First, let’s look at the these steps. We will use Easy Crypto as it is the easiest way in Australia to purchase cryptocurrency.
- Create an order for the coins you want.
Create an order by typing the amount of Australian dollar you want to spend or cryptocurrency you want to purchase. The system will automatically do the maths for you so you will see what your quote is on the same page. And we can send it to any wallet or exchange account.
- Pay with one of our instant-payment methods, or use a standard bank transfer.
In this step, we create an account and verify it. Then we pay for our order using PoliPAY or Direct Bank Transfer! Sign up via your Google account, Facebook account or just an email address.
- Enter your details.
- Answer some simple questions.
- A few more quick questions.
- Verify your identity and identification.
- Receive a text message from OriginID and follow the link!
- Receive another disclaimer via OriginID.
- Use your camera to take a photo of your ID and your face. Simple!
- Insert a cryptocurrency wallet address.
- Review your order and make sure all details are correct.
Now, deposit into the account provided then confirm payment or use PoliPAY which is instant!
- That’s it!
We’ll process your order straight away, and most orders are delivered in less than 2 minutes.
Congratulations! You are now another satisfied and proud Australian owner of cryptocurrency. Your wallet has received its order from your Easy Crypto account and you can now transact, purchase more, trade with or watch your investment grow over time.
Getting into crypto at such an early stage is a great feeling. Many Australians have jumped on the bandwagon and some have done incredibly well. With the uncertainty of today’s financial situation now is a great time to get involved in cryptocurrency and start to see the technology for what it is. It is revolutionary.
Yes, Bitcoin can be sold for Fiat or normal currency like AUD through exchanges directly to your bank account with Easy Crypto being one of those exchanges.
Yes, Bitcoin so far has been a good long term investment or hedge against the market as has performed well even under bad circumstances.
Yes, Bitcoin is classed as money, is legal in Australia and taxed uniquely.
No, Bitcoin is not a bubble as some mainstream media occasionally suggests, It is a battle-hardened 11 years old now and as the logarithmic scale graph illustrates, the number of Bitcoin transactions is steadily climbing year on year.
No, there can not be more than 21 million Bitcoins created so unlike Fiat which can be printed and printed Bitcoin can not.
No, Bitcoin is not ‘Dead’, according to the media Bitcoin has died some 350+ times all of which have been poor excuses for journalism and just fear-mongering for a quick story.
If you have not already make sure you start to research Blockchain Technology and wrap your head around it. This is the true juggernaut of the technology as not only can it produce and sustain peer to peer, trustless digital currency, but also it can create smart automatically executable digital contracts known as ‘smart contracts’. Do not forget to research smart contracts if you are planning on investing in this space as they are very much in their infancy.
This document was brought to you by Easy Crypto and we are here 24/7 to answer your questions or emails that you may have. We will endeavor to support you from start to finish in necessary to get as many people as we can be involved in a world-changing technology!
Do not hesitate to contact Easy Crypto team 🙂