Why Should We Have Cryptocurrency in Australia?
Cryptocurrencies move hundreds of millions of dollars monthly and represent one of the markets with the highest profit margin. Now, if we combine this with the decentralization aspect that these digital assets offer, we will have a perfect recipe to invite people unrelated to traditional financial institutions to participate.
Australia has always been one of the countries with the highest adoption of cryptocurrencies in the world. This is easily observed by the amount of BTC/AUD exchanges that occur in the crypto markets, as well as the increasing amount of local businesses that are starting to accept Bitcoin as a payment option.
Furthermore, Australia’s regulatory agencies have taken action on cryptocurrencies that allow their free circulation while preventing them from being used for illegal purposes (taking advantage of their anonymity feature).
That being said, we can understand that cryptocurrencies are legal in Australia and even the largest crypto exchange companies include AUD as a deposit method and even as a trading pair.
This crypto ecosystem continues to grow and joining means growth for us too, especially since it works with futuristic technology and comprises a series of advantages that we will explain later.
In this article we’ll be discussing compelling reasons why we should have cryptocurrency in Australia and why you should consider investing as well.
Jump the line and get started: Click here to buy Bitcoin and other cryptocurrencies in Australia.
Diversify your investment portfolio
There has never been as much information about the cryptocurrency world as there is today, making crypto transactions extremely easy to execute. It is also an excellent investment alternative to diversify your portfolio. And with the advent of Bitcoin ATMs, it has become easier and more accessible than ever.
Additionally, many companies have emerged that offer wallet services for a long list of cryptocurrencies – these are known as custodial wallets. Although it is true that it is only recommended to use these services if you can trust them with your money, we must also consider that there are currently many faultless and reputable companies that you can trust.
If you are truly looking into cryptocurrency as an alternative investment option, consider getting a Bitcoin or crypto wallet to safely store and secure your digital assets.
Learn more: Complete guide on Bitcoin wallets in Australia.
The volatility of this market is something we all know about. However, while such volatility presents high risk, it is also a great opportunity to quickly increase anyone’s financial capital. This attracts investors who are risk tolerant, as well as financial capital who are willing to risk.
Unlimited and cheap transfers in the market
On the other hand, cryptocurrencies are assets that allow the transfer of funds at home or abroad quickly and with much lower rates than existing services.
It should also be noted that immigrants use cryptocurrencies as a way to support their family members who are still living in countries that are going through disastrous economic situations. Millions of dollars in crypto have entered these countries because of how easy it is to send cryptocurrencies.
Thanks to blockchain technology, which is the basis of cryptocurrencies, the price for sending funds changes dynamically, depending on demand, and is almost always lower than what the client would pay if they used traditional banking channels.
Blockchain generates security
In addition to keeping track of transactions, blockchain technology provides security, decentralization, and transparency.
The answer to all the questions about the best time to invest in cryptocurrencies, if it is safe to invest in them, is in the hands of Blockchain technology. This is because the technology of this system guarantees the security of transactions in a way never thought before.
Similarly, it could be said that blockchain technology is here to stay and that it is one of the great advantages of this market.
In conclusion, the growth of the cryptocurrency market at an exponential rate has led people to believe that the future of finance is here.
What is blockchain technology? Find out more about blockchain technology here.
Businesses have started accepting cryptocurrency payments in Australia
Due to the high acceptance of cryptocurrencies by Australians, many businesses in Sydney, Melbourne, Brisbane and Perth are offering their products and services in exchange for BTC at a price equivalent to their original value in AUD.
This is very convenient for people who receive income in cryptocurrencies (especially Bitcoin) since they can make their purchases with their tokens without having to make an exchange. Among these businesses, we can find bars, cafes, restaurants, hairdressers, tattoo shops and medical offices.
How to buy cryptocurrency in Australia?
Buying cryptocurrency in Australia is exceptionally easy, as there are multiple BTC ATMs and alternatives on the internet to exchange AUD for BTC. Although there are large crypto exchange companies in Australia offering this service, Australian residents may feel more comfortable buying Bitcoin through a local exchange platform such as Easy Crypto Australia.
Easy Crypto AU allows you to buy Bitcoin and other cryptocurrencies through bank wire transfers directly with AUD and automatically attributes the tokens to your BTC wallet. At excellent spread rates, you will have a comfortable and simple experience with the Easy Crypto service.
Interested to invest in cryptocurrencies in Australia? Click here to get started.
Last updated February 8th, 2021.