Buy Bitcoin Perth 2021
Making Crypto Simple
Bitcoin is the world’s first cryptocurrency, designed by Satoshi Nakamoto in 2008. Ever since its launch, Bitcoin’s popularity as a digital coin has been continuously on the rise.
In this course of time, Bitcoin has grown closer to what we recognize as a regular currency and this, in turn, encourages people to start investing in it. Each day, more and more people like yourself believe that digital currencies and blockchain technology are the future of finance.
Bitcoin purchases are quite common in Australia, too. If you’re located in Perth, Australia, this guide is meant for you, as we’ll be looking at the best methods to buy Bitcoin locally. If you want to learn more, please read our guide on How to Buy Bitcoin in Australia.
There are different payment options for buying Bitcoin in Perth Australia, but you don’t have to feel overwhelmed by the choices. The purchasing process has been simplified over the past few years. We are here to guide you and make your purchasing process as convenient and as simple as can be.
In this guide, we’ll break down the most common and popular buying methods:
- Buy Bitcoin on Cryptocurrency Exchanges
- Buy Bitcoin with Cash (via an OTC Broker)
- Buy Bitcoin from a Bitcoin ATM
Buy Bitcoin on Cryptocurrency Exchanges
For Australians, one of the most popular methods of buying Bitcoin is via cryptocurrency exchanges. Because there are lots of crypto options out there, we’ve reviewed the best platforms based on their fees, security, user-friendliness, and much more.
Cryptocurrency exchanges are digital platforms that enable traders to buy, sell, and trade cryptocurrencies for other regular digital coins or fiat. In order to get more acquainted with the different features these exchanges offer, we recommend you take a look at our guide of The Best Crypto Exchanges in Australia 2021.
Before settling on an exchange platform, make sure that it matches your investment plan. Consider all available purchasing options, and search for exchanges that offer low fees, great customer support, and security.
In order to start purchasing, choose your preferred exchange and create an account. Before you begin the verification process, go to security and allow 2FA authentication. Afterward, make sure to verify your identity and select your preferred payment method. Most Australian crypto exchanges permit their clients to purchase crypto with fiat via credit cards, debit cards, bank transfers, POLi, Osko, Bpay, and PayID.
If you’re looking for the safest way of purchasing Bitcoin in Australia, we recommend Swyftx. This is one of the best exchanges when it comes to security as it holds your funds using 2FA and breached password detection.
If you’re looking for an exchange that’s suitable for both beginners and experienced traders, look no further than CoinSpot. One of the disadvantages is that it incurs somewhat greater fees than other exchanges.
If you’re looking for a crypto exchange that provides a broader selection of payment methods, we recommend checking out Independent Reserve. The exchange offers EFT (bank transfer), Osko, SWIFT, PayID, and POLi, among other payment methods.
Finally, eToro is an excellent exchange if you want to involve yourself in margin trading.
Buy Bitcoin with Cash
Australia offers several options when it comes to buying Bitcoin with cash. There are many benefits of purchasing Bitcoin with cash, such as more safety and time-efficiency in comparison to other buying methods.
CoinSpot and CoinJar are two cryptocurrency exchanges that support this type of payment. If you have an account with one of these platforms, the process is quite simple. First, select the cash deposit option from your dashboard and enter the amount you would like to deposit. A QR Code will be created to scan at participating Blueshyft newsagents.
Next, you’ll need to log into your CoinSpot/CoinJar Account and choose the cash deposits option to generate your own unique QR Code. A map will be presented on your cash deposit page that will track down your nearest Cash Deposit Location. When you visit the newsagent, you’ll need to deposit funds into your exchange account by showing the QR code to complete the payment. However, we would like to point out that you’ll be charged two times – once by the exchange, and once by the newsagent.
Flexepin vouchers are another similar method of buying Bitcoin with cash. One advantage of Flexepin is that they’re prepaid, and the hazard of having your personal information and bank account uncovered online is decreased, making it more secure than ordinary online payment methods. In Australia, there are several platforms that allow people to buy bitcoins through the Flexepin network, such as Coinjar and Coinloft.
An OTC (over-the-counter) exchange is another alternative when it comes to buying Bitcoin with cash. OTC enables trading directly between the buyer and the seller and provides better alternatives for high-volume trades as they don’t have any upper limits. Hence, major traders are protected from slippage. Some of the additional advantages OTCs offer are greater privacy and higher liquidity. Our OTC recommendations are ItBit and Genesis.
Finally, you can buy Bitcoin with cash on peer-to-peer exchanges like LocalBitcoins. P2P’s are marketplaces where people can trade crypto directly with each other without the involvement of a central authority. In order to pay in cash, you’ll need to arrange a meeting in person with a seller. We recommend not to take the risk since there’s no guarantee that the trade won’t end up being a scam.
Buy Bitcoin from a Bitcoin ATM
If you were wondering what is the best city to purchase Bitcoin from a Bitcoin ATM or BATM in Australia, Perth is the one. This city has more ATMs than any other city in Australia. All BATMs are located near the city center, with some in Fremantle as well. The rest of BATMs are located in large cities like Melbourne and Sydney.
BATMs are particularly convenient as they’re similar to regular ATMs. They provide fast and secure services. Currently, there are seven Bitcoin ATMs in Perth, totally dominated by General Bytes machines. These are the most frequent BATMs in Australia, offering an exceptionally easy-to-use interface. Most BATMS don’t require previous online registration or verification, but some of them might require a registered account. The purchasing process is as follows: use your credit/debit card or deposit cash into the ATM. Next, show the QR code to your Bitcoin wallet address and wait to receive your coins.
Frequently Asked Questions
Yes, you can sell cryptocurrency on cryptocurrency exchanges. You have the option to select between selling Bitcoin for fiat money, such as Australian Dollars (AUD), US dollars (USD), Euros (EUR), or trading it for another cryptocurrency. Once you select an exchange that best fulfills your needs, you’ll need to open an account and place your BTC.
Swyftx is our top pick for the best Australian Bitcoin exchange. The platform is simple to use and offers over 200+ cryptocurrency coins such as Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash, among many others. Furthermore, the exchange provides some of the lowest fees on the market, offers automated buy and sell orders, a customizable dashboard, and excellent online customer support.