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HOW TO BUY CRYPTOCURRENCY IN AUSTRALIA – 5 EASY STEPS

07-21-2022

Crypto-mania has been strong throughout 2021. So if you’re wondering how to buy cryptocurrency in Australia, we’ll run you through an easy step-by-step process to getting your crypto journey started.

If you’re new to the crypto space and feeling a little overwhelmed, don’t fret. Crypto can seem complicated and daunting at first but in reality, understanding how exchanges work and the core ideas behind what you’re investing in takes a bit of leg work and research before you dive in. To help you get started, here’s a 5-step guide to buying cryptocurrency.

  1. Compare & choose an online exchange or trading platform to buy the cryptocurrency

If you’re looking to buy cryptocurrency,  you will need an online app called a “wallet” to hold your currency. Most cryptocurrency exchanges allow you to create an account, then transfer fiat currency (such as Australian Dollars) to buy cryptocurrencies such as Bitcoin or Ethereum. A growing number of cryptocurrency trading exchanges allow you to create a wallet to store your cryptocurrency, as well as buy and sell on the exchange. Take your time, do your research, read customer reviews and look for an exchange that is upfront about who they are and the fees they charge.

  1. Before you invest in cryptocurrency – Sign up & verify your email & identity

Once you’ve chosen the crypto exchange that suits your needs, signing up is usually pretty straightforward. Choose your username and password, fill in your personal information and set up 2-factor authentication (2FA) (which gives your account an added layer of security). From there all you have to do is verify your email which will then prompt you to verify your identity (and potentially provide proof of residence). This can all be done in a few short minutes with a passport or another form of ID.

  1. Add your bank account, select a payment method & make a deposit to invest in cryptocurrency

Once you have added your bank account and selected your preferred payment method (Poli and PayID/Osko are two common methods), you can make an AUD deposit into your account, which should be free.

  1. Go to the buy section & select the cryptocurrency you want to trade

Almost there! Now that your account has funds in it you are free to purchase any type of cryptocurrency of your choosing. Go to the buy/trade crypto section and select the cryptocurrency you wish to purchase.

  1. Enter the amount of cryptocurrency you want, double-check the details and confirm your purchase

Ready to go? Enter how much AUD you want to invest or how much of the coin you want to buy, double-check the details are correct and confirm your purchase. And, that’s basically it!

Hopefully, you’ve found this step-by-step guide on how to buy cryptocurrency in Australia useful. If you do your research and compare exchanges before choosing one, you’ll likely be off to a good start.

Currently, w88 supports trading Crypto coins up to 7 currencies, and many other attractive promotions for you.

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