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How to buy bitcoin in Australia

Australia
Bitcoin

In December 2013, Australia was one of the earliest countries in the world to declare Bitcoin legal. As cryptocurrency continues to become more popular in Australia, the range of things you can spend your bitcoin currency has increased: from paying for daily coffee to getting your teeth checked.

Cryptocurrency exchanges have simplified the process of buying cryptocurrency over the past decade, making it easier for non-tech and non-financial people to buy and sell.

Cryptocurrency is progressively going mainstream in Australia. The appetite for digital assets is growing in all corners, from everyday Australians to fund managers. The richest families also haven’t been able to ignore the Bitcoin boom. They are actively diversifying their portfolios with crypto. As markets have become flooded with cash, bonds and stocks have become expensive and investors are looking for alternative investments.

This instruction will tell you how to buy bitcoin in Australia easily and safely using the convenient Itez service.

Buy bitcoin using Itez: step-by-step instruction
1.

In order to buy bitcoin, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of BTC based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase BTC for dollars step by step.

2.

After converting the currency to BTC, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.

3.

Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.

4.

Specify the purchase amount in the Itez dialog box. Copy the recipient address - your bitcoin wallet - from the “Accept” section.

Important: you should not manually copy the bitcoin wallet address. The blockchain system does not give any information about bitcoin addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.

For example, this is how the copy address button looks like in the Exodus wallet:

5.

After copying the bitcoin wallet address, paste it into the dialog box.

Check your data — it is important to make sure that the address is entered correctly.

6.

After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.

7.

Push the “Pay” button and enter the one-time bank code in the following window. As soon as the transaction receives 6 confirmations in the blockchain network, your bitcoin wallet balance will be top-up.

Important: the transaction will wait for confirmations for time. After six network confirmations, bitcoin will be on your e-wallet; when buying with Itez it will take for about 15 minutes. This is a very good speed for the Bitcoin network since transactions in the most popular blockchain network are somewhat slower than in other networks due to its properties and high load.

Banks

Bitcoin (BTC) can be bought with a card of any Australian bank. Commonwealth is the most massive in terms of the volume of transactions, Westpac is in second place, followed by NAB, Credit Union Australia.

Bank cards

To buy bitcoin in Australia with a credit or debit card you can use such global payment systems as Visa and Mastercard. You can as well employ such digital payment services as Apple Pay, Samsung Pay или Google Pay. Skrill wallet is also a possible and secure way for buying bitcoin in Australia.

How to store bitcoin

An important quality of Bitcoin is decentralization. With a private key and seed phrase, you can be sure of the safety of your funds. Nobody except you can use your cryptocurrency. You can find the full list of possible wallets on bitcoin.org.