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How to buy Crypto in Australia


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It is by far the most common question we receive, How do I buy Cryptocurrency in Australia?

This article will be edited and added to over time because there are a number of avenues one can take to purchase Crypto, and these are ever changing.

However, as a beginner, you can't go past Coinspot as your initial entry point into investing and trading in Cryptocurrency, it is arguably where most recent Aussie Crypto Investors started. Seasoned investors will suggest other avenues to avoid fees, however, the reality is those fees do work out quite similar and alternative processes can be quite involved not to mention daunting!

Coinspot is a Melbourne based business that has simplified the process of purchasing your first Bitcoin or Cryptocurrency, offer a range of 'Alt coins' to purchase as well as the wallets to store them. Simple charts are provided to see the overall performance of the currencies and the 'Top movers' of the hour and day are also highlighted. 

An initial verification process is required, similar to opening a bank account you are required to provide a number of points of ID, including a current photo. Please note that during peak times this verification process can take a week or two, so plan ahead. 

To start buying, you deposit Australian Dollars AUD into your Coinspot account via BPay, cash deposit at selected Newsagents or the other forms they may offer at the time. You can then navigate through the wide variety of Coins, Bitcoin, and numerous other 'Alt Coins' to make your first purchase into Cryptocurrencies. 

 

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And that's it! You are now a holder of Crypto Currency! You can now store your coins/tokens in the Coinspot provided wallets, or look to transfer them to a local wallet, exchange or even a hardware wallet. More on all those soon!

Disclaimer: CryptoFind is an affiliate of Coinspot and receives commision on eligible referrals. Trade and invest at your own risk.

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