AGR Technology: How to buy Bitcoin in Australia (beginners guide)

Disclosure: This article was sponsored by ByBit which is a Cryptocurrency exchange platform, the contents of this article do not necessarily reflect the views of AGR Technology

Many traders and investors in Australia are starting to include cryptocurrencies in their portfolios, with as many as 31% having the intention to continue buying crypto in 2024. And as the king among all digital currencies, Bitcoin is definitely a popular Crypto asset you should consider investing in. It is not only legal to buy Bitcoin and other crypto in Australia, but also incredibly easy to buy them.

WAYS TO BUY BITCOIN IN AUSTRALIA

There are five main ways to go about buying Bitcoin in Australia. You can acquire Bitcoin via a cryptocurrency exchange, a crypto wallet, a Bitcoin ATM, a peer-to-peer exchange or over-the-counter (OTC) trading.

CRYPTOCURRENCY EXCHANGE

The easiest way to buy Bitcoin in Australia would be through a cryptocurrency exchange, as exchanges have user-friendly platforms and dedicated customer service to help beginner traders and investors just stepping into the world of crypto.

When selecting an exchange to buy your Bitcoin, you should look out for several things. First and foremost would be security. With the insolvency of one of the world’s leading exchanges, FTX, one should do due research to check if the exchange executes proper management of customers’ funds. Secondly, you should also find out if the exchange accepts AUD. After all, you wouldn’t want to go through the hassle of changing AUD to a currency the exchange accepts just to make a transaction, right? Lastly, check the cost of the exchange’s trading fees. While you might not think it affects much in a single transaction or two, a high trading fee can eat into your overall return if you intend to start actively trading in the exchange.

>>Bybit is an exchange that ticks all three points<<