Buy Bitcoin (BTC)

After you purchase Bitcoin (or any other cryptocurrency), it is stored in a digital wallet. Bitcoin wallets allow you to interact with Bitcoin’s blockchain network and send, receive and store BTC. Unlike the wallet you keep in your pocket, crypto wallets securely store your Bitcoin as pieces of data. Learn more about what a Bitcoin wallet is.

Swyftx has digital wallets for all crypto assets listed on our exchange. If you decide to sign up and buy Bitcoin through Swyftx, it will be accessible in the digital wallet associated with your account.

If you plan to hold your assets for an extended period, we recommend choosing a cold storage wallet to keep your crypto offline – once you are comfortable using one.

Bitcoin was the very first cryptocurrency available on the market. Its development birthed a multi-trillion-dollar industry and spurred a tech revolution. It is a decentralised and trustless payment system built on blockchain technology, separate to traditional financial systems used by banks and governments. Bitcoin and blockchain tech have inspired the development of various decentralized projects and companies, shaping the future of the digital world.

Bitcoin mining is a term that refers to the process of creating Bitcoin and finalising payments on the network. Bitcoins are mined by high-powered devices that solve complex algorithms to verify transactions and create new blocks. The miner who successfully solves the problem first is given a block reward. This reward is presented as a predetermined amount of BTC.

Bitcoin miners clump these transactions together in ‘blocks’ and then add them to the blockchain, which is a public record. Nodes, which are computers that connect to the Bitcoin network, maintain records of those blocks so they can be verified in the future.

The Securities and Exchange Commission (SEC) approved the very first spot Bitcoin ETFs on US exchanges in January 2024. Investors can access these ETFs through global trading platforms. Australian-based Bitcoin ETFs are less prominent, but have actually been around since 2022. Aussies can buy local Bitcoin ETFs via the Cboe Australia or ASX exchanges.

Yes, you can buy less than 1 Bitcoin. For most people, buying 1 Bitcoin is a huge commitment. Bitcoin has surged in value and has been worth more than AUD $100,000. Fortunately, a Bitcoin can be divided into as little as 0.00000001 BTC.

This is referred to as a Satoshi (SAT) and is the smallest unit of Bitcoin currency that can be recorded on the blockchain.

Swyftx has minimum orders in place, allowing you to buy as little as AUD $1 of Bitcoin.

The best place to buy Bitcoin is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be one of Australia's highest-rated crypto exchanges as per our TrustPilot reviews.

The price of Bitcoin is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.

Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.

Swyftx does not allow you to directly buy Bitcoin with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy Bitcoin instantly.