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Buy Bitcoin Australia (BTC)

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Current global rank based on market cap.

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The total value based on current price x supply.

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The total value traded in the past 24hrs.

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The highest dollar value 1 has sold for.

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The % of buy and sell on Swyftx within past 24hrs.

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What is Bitcoin

Bitcoin is a decentralised cryptocurrency that was created in 2009 by a person or group of people using the alias, Satoshi Nakamoto. It’s a peer to peer digital currency which means it can operate without the need for a central authority like a bank or a company. All Bitcoin transactions happen directly between independent network participants. According to Nakamoto’s own words, Bitcoin was created to allow  “online payments to be sent directly from one party to another without going through a financial institution.”

Bitcoin holds the distinction of being the first-ever cryptocurrency to come into use and it has paved a path for other cryptocurrencies to do the same. BTC in and of itself is an international force to be reckoned with. Not only is the market cap approaching 1 trillion dollars, but the entire cryptocurrency industry is able to capitalise off of the rush. This is similar to the way gold mining companies and shovel providers capitalised off of gold. Proprietary companies (pty ltd) specialise in all different types of subindustries within Bitcoin.

The total supply of BTC is limited by its software and will never exceed 21 million coins. New coins are created by a process called ‘mining’ and about 70% of Bitcoin mining power is controlled by China. That said, you certainly don’t have to be a miner to acquire bitcoin or other cryptocurrencies. To buy BTC in Australia, you will need to sign up for a trading account with a cryptocurrency exchange platform that supports BTC, like Swyftx.

How to buy Bitcoin in Australia?

It’s easy to buy Bitcoin in Australia using the Bitcoin trading platform Swyftx. The first step in buying Bitcoin is to set up a free Swytfx Cryptocurrency Exchange account where you can buy Bitcoin and other digital currencies using the secure app. Once you have created an account and completed your ID verification, you can deposit funds into your exchange account (in AUD) using payment options including bank transfer, OSKO, PayID, credit/debit card and more. Once the deposit clears, simply enter the amount of Bitcoin you wish to purchase and click the ‘Buy Bitcoin’ button. Once have bought your Bitcoin BTC, the Bitcoin will become immediately available in your Bitcoin wallet.

Why Should I Buy Bitcoin with Swyftx?

If you are new to the world of crypto, before you buy Bitcoin, you can activate the app’s demo mode where you can mock trade using real industry data and learn the markets. Once you are confident, simply head back into the standard mode and buy Bitcoin. Swyftx has an abundance of features and benefits that makes it convenient and easy to buy Bitcoin in Australia. It offers low spreads and trading fees for those wanting to sell and buy BTC, offers the ability to create automatic sell and buy Bitcoin orders, has online support, the ability to set up recurring orders, combined order books and Integrated Viewing Charts where you can chart and closely monitor Bitcoin BTC as well as any other digital currencies you would like to track.

What makes Bitcoin unique?

Compared to other cryptocurrencies of a similar nature, Bitcoin’s main advantage is that it was the very first cryptocurrency on the market. It has given birth to a new multi-trillion dollar industry with millions of enthusiasts. The emergence of BTC provided a technological platform and vision that has inspired the development of various competing projects and companies.

What is Bitcoin mining?

‘Bitcoin mining‘ is a term that refers to the creation of bitcoin. It is performed by high powered computers that solve complex computational maths problems. When computers solve these complex maths problems on the bitcoin network, a new bitcoin is produced. Then the miner who created that bitcoin is responsible for making the bitcoin payment network trustworthy and secure by verifying its transaction information.

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

Can I buy Bitcoin with a credit or debit card?

Swyftx supports credit and debit card deposits.  When you buy Bitcoin with Swyftx, you can deposit money into your account using your credit or debit card, which can then be used to buy Bitcoin BTC. To deposit using a cred/debit card, simply navigate to the AUD deposit page, then select the credit card deposit option and follow the process. Deposits via credit or debit card can take up to 30 minutes but are typically received instantly.  Once you have successfully deposited funds into your account, you can buy Bitcoin immediately and have it available in your wallet.

Who accepts bitcoin in Australia?

Purchasing Bitcoin is considered by many people to be an investment. The majority of people are buying Bitcoin to gain profit from the potential future growth of BTC. However, Bitcoin’s primary purpose is its use as a currency. As the popularity of Bitcoin in Australia continues to surge, the spending options are becoming broader. Coinmap has provided a handy map with different locations that you can withdraw, spend and exchange bitcoin. This includes ATM’s, cafe’s, shops and businesses that accept bitcoin as a currency.

Is investing in Bitcoin safe?

In the digital world we live in, where scams and online fraud are common, it’s important to be cautious when you’re buying bitcoin. When you’re looking to buy bitcoin, it’s paramount that you do your research to find a reputable crypto exchange. At Swyftx, security and safety is our top priority. Swyftx has a robust security framework in place to ensure our customers can trade bitcoin in a safe environment. We partner with Chainalysis, the worlds largest blockchain analysis company, making us one of the safest options to buy bitcoin in Australia. Additionally, we run 24/7 personalised customer support and due diligence programs that require various identification checks for opening new accounts.

Where can I store bitcoin?

After buying Bitcoin, it’s generally recommended that you store your BTC and other cryptocurrencies that you may hold in a crypto wallet. This is a mechanism that allows you to interact with Blockchain networks and is necessary for sending, receiving and storing cryptocurrencies. Unlike the wallet, you keep in your pocket, crypto wallets securely store your Bitcoin as pieces of data. Swyftx has digital wallets for all the crypto assets on our exchange which includes BTC. If you decide to sign up and buy Bitcoin through Swyftx, we have a wallet already integrated into your account so you can maintain your crypto safely and securely.

How is the price of Bitcoin determined?

Similar to traditional stocks and bonds, the price of BTC is determined by supply and demand. There is a limited supply of bitcoin in circulation and more additional bitcoin is created at a consistent, predictable rate. This means the demand must closely follow this level of inflation to keep the price stable. When the demand for bitcoin increase, the price will rise. Similarly when the demand for Bitcoin drops, so will the price.

What is the easiest way to buy Bitcoin in Australia?

The easiest and most common way to buy BTC in Australia is through a cryptocurrency exchange like Swyftx. Buying Bitcoin may seem complex from an outsider looking in, however, at Swyftx, it’s our goal to make crypto investing simple and hassle-free. We’ve developed a platform that is easy to navigate and understand, even for beginners. To buy bitcoin, you’ll need to sign up, deposit AUD and then select how much BTC you wish to purchase. Once you’ve successfully bought Bitcoin, it will immediately become available in your digital wallet.

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Why use Swyftx to buy Bitcoin in Australia?

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Lowest Fees

When you buy Bitcoin in Australia with Swyftx, enjoy lower spreads and cheaper trading fees than our closest competitors. Swyftx cryptocurrency exchange has some of the lowest fees on the Australian market.

Instant Verification

Enjoy instant online verification without uploading documents. This is convenient for those who are looking to buy Bitcoin BTC in Australia when they’re in a hurry. If you have the credentials to satisfy the requirements that Australia looks for, then why wait days for verification?

Secure Accounts

Buy Bitcoin in an account protected by password detection breaches and two-factor authentication. However, we recommend a hardware wallet in addition to your Swyftx wallet to store your cryptocurrency offline securely.

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Rated 4.8 out of 5 based on 1960 reviews

AJcryptoWA
AJcryptoWA
2021-03-18
Verified
Swyftx is a great user friendly platform with fast, secure transactions and low fees. The recent upgrades have given the platform some great aesthetics and they have a friendly, helpful team who are quick to assist you when required.
Toni B
Toni B
2021-03-17
Verified
This app works really good and you trust it. You can deposit and withdraw you money safely and quicker than any other app.
Manish
Manish
2021-03-17
Verified
Excellent customer service and broad range of crypto available.
Kerem
Kerem
2021-03-17
Verified
Swyftx is a good trading platform for both beginners and old time traders, you can use this with ease and get all of your stuff done like every other application. However there is one area Swyftx shines more than any other trading platform, and it is the customer help centre, I have never experienced such professional caring work from a trading platform like this one, I will continue using this application for a long time. Keep up the work guys!
JS
JS
2021-03-16
Verified
Customer support are very reliable. No fuss and eager to help. Thanks
Mark
Mark
2021-03-16
Verified
Easy to use platform with plenty of information available at your fingertips. Helpful staff who resolved a small issue I had simply and quickly. Great product!
Jax
Jax
2021-03-16
Verified
KAJ
KAJ
2021-03-16
Verified
The support team and user-friendly interface is top-notch! They consistently update the site and truly listen to the customers. I'm particularly fond of the "Bundle" buy feature that lets you make bulk order on your favourite cryptocurrencies.
Angelo Demetriades
Angelo Demetriades
2021-03-15
Verified
Jamied
Jamied
2021-03-15
Verified
Swyftx is my go to crypto trader it’s easy to use and they don’t rip you off
Trustpilot rating score: 4.8 of 5, based on 1961 reviews.

OUR TOP FEATURES

Why choose Swyftx?

AUD Deposit and Withdrawals

Deposit and Withdraw AUD via PayID, OSKO, Bank Transfer & POLi

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Automate your crypto investments. Setup recurring deposits to your Swyftx account and have then automatically split across your own range of cryptos.

Stop, Limit & Market Orders

Never miss a trade or get caught out by the crypto market volatility. Set Buys and Sells to trigger at any price you want.

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