bitcoin blog

How to buy bitcoin in Australia

Look at the history of the cryptocurrency known as Bitcoin.  What you will realise is that the price of the digital currency skyrockets in a short period.  At the beginning of 2017, the value of one Bitcoin was around $1,000.  That has now increased nearly twenty times over!  How to buy Bitcoin is a question many speculate about.  Most believe the Bitcoin rise is far from over.  As Bitcoin continues to become more well-known, more prominent, the value is only going to increase further. The idea of buying into virtual currency was not top of mind just a few years ago.  Between the years of 2015 and 2013, there were spikes and then drops in Bitcoin as well as other types of cryptocurrency.  Things have become more stable, the uses of Bitcoin more well known.  How to buy Bitcoin is a question many have now because more people are aware of it.  The trust level in the digital currency in the short and long-term has never been higher.

Confusion on Buying and Selling

Many just do not understand how to buy and sell Bitcoin.  What is the process one goes through to purchase a Bitcoin?  Do you have to buy one entire coin at a time?  Can you use a credit or debit card?  Is a bank account required?  All of these questions are valid and answers valuable to newcomers.  If you are just making your mark in the cryptocurrency game, learn as much as you can and follow our step by step guide.

Sign Up for a Wallet

You need to have a Bitcoin wallet to get started with the process of buying and selling Bitcoin.  How to buy Bitcoin is one thing, how to store it is a whole different topic.  There are going to be made sites out there, CoinSpot leading the way, that allow you to have a wallet set up and also the ability to buy in and out of the cryptocurrency at all. Signing up for a wallet is just going to require a bit of basic information.  You are not going to have to give out anything overly sensitive, and once you are signed up, you are good to go to make as many purchases as you would like.  Just be sure you have a way to fund the account so that you can buy into Bitcoin.

Security

Make sure the wallet that you register with has a high level of protection.  CoinSpot operated in a stable regulatory environment.  They take a great deal of pride in ensuring that the security is at or above what you would expect from a financial institution. Security is important when talking about buying Bitcoin.  When you do not have a wallet that is secure, you are exposing yourself to risk.  Holding Bitcoin in a wallet that is not secure allows for a hacker to gain access and steal those Bitcoins from you in a flash.  Check the news; hackers are trying to do this every day!  Sites like CoinSpot with their top-notch security are fighting them off.

Fund and Buy

Fund your wallet and start to purchase Bitcoin right away!  With a site like CoinSpot, you are going to be able to fund the wallet with a debit or credit card, as well as with a bank account.  The choice is going to be entirely up to you. When you have a wallet and brokerage site all in one, you will be able to make purchases of Bitcoins in an instant and have them placed right into the secure wallet.

Purchase Any Amount

What is the best way to buy Bitcoin?  Does it matter if you can buy a whole Bitcoin or a fraction?  You can buy as many Bitcoins as you would like.  You can also buy just a piece of a Bitcoin.  The price point of a Bitcoin changes every day, but right now as of this writing is it at around $17,000.  Many of us do not have that kind of money to invest and buy a whole coin.  You can use whatever you can buy a fraction of a Bitcoin so that everyone can get involved!  It is possible to own a piece of the pie without having an entire coin in your possession.

Alternative Ways to Buy

How to buy Bitcoin allows for alternative methods.  You do not have to just buy through a brokerage site with a wallet.  While using CoinSpot is easy, other options are available.  One of the more common ways that people will buy Bitcoin is a Bitcoin ATM.  This is an ATM that allows you to deposit money and then make a purchase of Bitcoin in an instant.  This is one of the more unique ways to buy and also sell Bitcoin.  Finding the ATM can be tricky, but if you are near one, it is a way to go about doing it. How to buy Bitcoin is easier than you think!  You hold all of the power as a consumer, trying to read the market.  There is a lot of potentials when talking about Bitcoin for serious gains to be realized.  It all comes down to figuring out how to read the market and getting involved.  If Bitcoin is not for you, a multi-coin wallet through CoinSpot lets you invest in the many other cryptocurrencies making their mark. Do not be afraid of the cryptocurrency game.  Embrace it and buy your piece of the Bitcoin pie, today!