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How To Buy Bitcoin Cash Australia

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How To Buy Bitcoin Cash Australia

How To Buy Bitcoin Cash Australia

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If you want to sell or buy Crypto assets in Australia, Bitcoin Dealers makes the procedure straightforward. Understandably, the world of cryptocurrencies might be perplexing, which is why we are delighted to welcome you to our offices in Melbourne, Adelaide, or Sydney to address any questions you may have about purchasing or selling Bitcoin Cash in Australia.

The recommended way to buy bitcoin cash in Australia is: Swyftx

All of the staff are bitcoin specialists, and you are free to ask as many questions as you wish before completing your transaction. They can provide you with the most recent BCH to AUD$ exchange rate and provide various payment options to make the transaction as simple as possible. There is no need to deal with unfamiliar internet platforms or exchanges when you want to buy or sell Bitcoin Cash in Australia, and you have the extra security of dealing face to face.

What is Bitcoin Cash?

How To Buy Bitcoin Cash Australia

Bitcoin Cash (BCH) is a decentralised currency launched in 2017 to improve the Bitcoin network and speed up delayed transactions by increasing block size. By expanding the scope of these blocks, the transactions that could be completed on each were greatly enhanced.

Simply register for a trading account with Swyftx, Australian Cryptocurrency Exchange, to purchase Bitcoin Cash. Simply validate your account, upload AUD, and choose the quantity of BCH you want to buy. When you click ‘Buy BCH,’ the Bitcoin Cash will be instantly available in your wallet.

How Can You Buy Bitcoin Cash?

How To Buy Bitcoin Cash Australia

You can purchase Bitcoin Cash in Australia by signing up for a Swyftx crypto trading account. The account creation and verification procedure take less than three minutes, after which you may fund your account with AUD through bank transfer, POLi, PayID, OSKO, or debit/credit card, and use it to purchase Bitcoin Cash (BCH).

  • Create an account on a BCH-supporting exchange.
  • To compare effective options, go to our table – but keep in mind that most exchanges ask you to register with an email address, phone number, and proof of identification.
  • Make a deposit into your account.
  • To purchase Bitcoin Cash, deposit cryptocurrency from a crypto wallet, fund your account with a bank transfer, pay with a credit or debit card, or deposit cryptocurrency from a crypto wallet.
  • Purchase Bitcoin Cash.
  • After you’ve completed your Bitcoin Cash purchase, you’ll need to locate the best wallet to put it in.

What’s the use of Bitcoin Cash?

How To Buy Bitcoin Cash Australia

Bitcoin is a permissionless, decentralised cryptocurrency that does not need intermediaries or private entities to complete transactions. Unlike fiat currencies like the Australian and United States, Bitcoin Cash does not have a monetary intermediary like a central bank to complete transactions. Transactions are quick, and costs are less than those charged by Bitcoin.

Bitcoin Cash can be used to purchase products or services both in-store and online, in addition to peer-to-peer payments between participants. Anyone who owns a computer or a cellphone may take bitcoin cash payments. Furthermore, Australians may purchase Bitcoin Cash through the Swyftx cryptocurrency exchange.

Factors to Consider When Buying Bitcoin Cash

How To Buy Bitcoin Cash Australia

Investing in cryptocurrency is risky because digital currencies are complex and speculative assets, with several factors influencing the value of every coin or token. Before making a purchase, do your homework and understand the causes driving crypto price swings. Consider the following criteria before purchasing Bitcoin Cash:

  • Branding: Although some attempt to deceive new subscribers, Bitcoin Cash is not like Bitcoin. Do not consider BCH to be a cheaper version of Bitcoin; they are two independent cryptocurrencies.
  • Difference to Bitcoin: The fundamental distinction between Bitcoin Cash (BCH) and Bitcoin is that BCH uses bigger (32MB) blocks, allowing for more transactions at every block. This results in lower transaction costs and shorter transaction times.
  • Distribution: When the hard fork happened, Bitcoin Cash coins were issued in a 1:1 ratio to every bitcoin holder. If you owned Bitcoin at the time of the fork in August 2017, you should already have outstanding Bitcoin Cash (BCH) coins in your wallet.
  • Adoption: Since its inception in mid-2017, Bitcoin Cash has struggled to establish itself as the main Bitcoin blockchain. As a result, given Bitcoin Cash’s inability to supplant Bitcoin, be suspicious of its future.
  • Dwindling usage: According to data provided by blockchain research firm Chainalysis, purchases generated by 17 of the world’s foremost cryptocurrency merchant processing providers decreased by two-thirds (-65 per cent) between March and May 2018. However, it is worth noting that bitcoin had an even more significant reduction in usage (85 per cent) over the same period.
  • Capabilities: In September 2018, stress testing revealed that Bitcoin Cash could handle up to 24,000 transactions per block. This amounts to around 40 transactions per second, far more than Bitcoin’s maximum throughput of approximately 7.
  • There are several bitcoins: Bitcoin Cash is one of many bitcoin forks that include the word “bitcoin” in their names, the others being Bitcoin Diamond and Bitcoin Gold. Many crypto enthusiasts are sceptical about forked currencies, and there is also the possibility that the sheer number of bitcoin versions available confuses and limits the number of possible purchasers.

Where Can You Buy Bitcoin Cash in Australia?

How To Buy Bitcoin Cash Australia

1. Swyftx—the #1 Crypto Broker for Bitcoin Cash

Swyftx platform was designed in 2017 by two programmers, Angus Goldman and Alex Harper. This platform was created to offer top-notch customer services. 

Swyftx’s objective is to enable Aussies to trade crypto coins most conveniently and straightforwardly possible. This platform comes with exceptional features and functions. For example, it converts deposits to USD to create tight spreads. 

While SWftx offers broker services, it features more sophisticated functions due to its high liquidity. 

Swyftx exchange is governed by AUSTRAC, ensuring that the users’ money and information are well secured. It has advanced security features and is collaborating with AuthO to improve cloud platform security. 

Using mobile phones, users can secure their portals with 2-factor Authentication (2FA). The 2FA app on your phone allows you to sign in using a unique code and your passcode. Additionally, this code will be required to verify withdrawals and when changing your account’s details. 

This platform offers free services for deposits and withdrawals in fiat. But for crypto withdrawals and deposits, there are fees applicable for basic network trading/mining. This is common in most crypto -platforms in Australia. 

How To Buy Bitcoin Cash Australia

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Pros 

  • Swyftx’s platform is transparent, simple, and trustworthy, which has attracted 350,000 users worldwide
  • Creating a new account is fast and easy; a new user can sign up and start trading on the same day 
  • Their fees are low, no recurring membership fees, and the spreads are always tight, allowing traders to buy and sell crypto at market value
  • Swyftx’s integrated wallets enable customers to store their cryptocurrencies
  • It offers unlimited learning materials to beginners

Cons 

  • Users often take time to master the platform

2. Digital Surge—Best for Ease of Use  

Digital Surge cryptocurrency platform is famous for providing a uniquely convenient and straightforward way to purchase, sell, and keep crypto coins in Australia. By focusing on simplicity, this platform is making crypto fun and easy to understand. Moreover, Digital Surge takes part in various community events to help to create awareness of the industry. 

With a maximum of 0.5% trades, Digital Surge is among the cheapest crypto exchanges in Australia. Its rates are the lowest when compared to some of the most famous platforms such as Swyftx (0.6%), BTC Markets (0.85%), and  CoinSpot (1%). 

The fees can be lowered to 0.1% per trade for more than $1 million transactions in a 30-days time. What’s more, the spreads average 0.4% a transaction across the 270 coins. 

Generally, the Digital Surge provides good value for your money and is among the cheapest destinations in Australia to purchase altcoins due to its low fee rates and spread.

How To Buy Bitcoin Cash Australia

Pros 

  • The user interface is straightforward and intuitive, making it perfect for beginners. 
  • Fees are low, and the structure is clearly outlined
  • Signing up is easy 
  • Price alerts, trigger orders, and recurring purchases are available to users.
  • Their customer services are available 24/7 through emails and chat

Cons

  • There is no payment through Credit cards.
  • There is only a single market for BTC-AUD and ETH-AUD.

3. CoinSpot—The Most Straightforward to Use  

Coinspot, founded in 2013, is a renowned and trustworthy cryptocurrency exchange. Since its inception, it has been generally considered a secure platform for users, businesses, and Super Fund investors to purchase and sell over 304 cryptocurrencies. The platform is ideal for a novice because of its user-friendly interface and mobile application.

To protect the safety of customer accounts, Coinspot conforms with Australia’s strict new AML/CTF legislation, which AUSTRAC enforces. The exchange employs bank-level security procedures to safeguard its clients’ data and funds. Besides, it’s  Australia’s first cryptocurrency marketplace to achieve the globally renowned ISO 27001 information security accreditation.

Pros 

  • With the PoLi payment method, you can pay straight from your Australian bank account.
  • There are no hidden costs at the time of purchase.
  • Has a good affiliate program
  • It’s quite active on Facebook—many individuals across the world can easily access it.
  • It allows you to buy a wide variety of alternative currencies using AUD

Cons 

  • It has high fees between two to three per cent—not advised for sums more than $1000.
  • Deposits are only accepted in Bitcoins.
  • The user interface is straightforward 
  •  No insurance 

4. Binance—Best When Looking for Lower Fees 

Binance is the world’s biggest cryptocurrency exchange in terms of trading volume and liquidity. The site is user-friendly and novice-friendly, and it provides a vast choice of crypto pairings, new goods, features, affordable fees, and prompt customer service. The platform is accessible in many nations worldwide, endorses most trading assets of any exchange, and has excellent liquidity.

It costs nothing to open a new Binance account or keep a Binance wallet. Various expenses are associated with utilising a Binance account, including depositing funds, trading, exchanging assets, and withdrawing funds to an external wallet.  These fees are prevalent on centralised exchanges to compensate for the company’s expenditures for supplying the infrastructure necessary to establish a safe trading system.

 The exchange is well-known for its global availability, support for different fiat currencies, and various ways to deposit cash into an account. Users worldwide may fund their trading accounts using Binance—utilising methods such as bank transfers, SEPA, credit/debit cards, wire transfers, and cash deposits.

How To Buy Bitcoin Cash Australia

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Pros

  • Buying costs are low for both non-instant and instant transactions.
  • A massive collection of coins is available.
  • A variety of other services are offered.
  • There are almost 50 different cryptocurrencies to choose from.

Cons 

  • It has fewer crypto-to-crypto currency pairings than the worldwide Binance site.
  • It is not accessible in the United States.

5. Cointree—For Conversion Flexibility 

Cointree is an Australian crypto platform founded in 2013 to provide a quick and secure option for purchasing Bitcoin and other virtual currencies. Cointree has more than 80,000 registered members and has transacted more than $250 million.

Cointree is an excellent platform to deposit AUD and change into various digital assets like Bitcoin, Ethereum, Cardano, XRP, and other digital coins with simplicity. With 160 digital assets to buy, trade, and sell and competitive fees ranging from 0.5 per cent to 0.9 per cent.

Cointree looks to be a trustworthy cryptocurrency exchange with various security measures to safeguard its users’ private information and assets. SSL certification, two-factor verification, wallet and personal data encryption are among the safeguards. Since the crypto exchange’s inception, there have been no recorded hacks or thefts of money on Cointree.

To avoid fraud, Cointree users must authenticate their accounts in compliance with rules. Individuals who create a basic account with the bitcoin exchange will indeed be able to discover the platform’s capabilities but will not deposit cash or utilise the buy/sell platform.

How To Buy Bitcoin Cash Australia

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Pros 

  • It’s simple to sign up for a Cointree account.
  • There are several cryptocurrencies to choose you may consider.
  • Excellent client service.
  • Very secure.

Cons 

  • The verification procedure takes between 24 and 48 hours.
  • Deposits are only permitted in one fiat currency.

Buy Bitcoin Cash With Swyftx

How To Buy Bitcoin Cash Australia

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Swyftx not only are its 0.6 per cent trading costs far cheaper than Coinbase’s 4.49 per cent, but it also offers a variety of fee-free deposit alternatives. Furthermore, Coinbase does not allow the selling of bitcoin, so you will be unable to sell your digital assets or cash withdrawal in Australia.

Swyftx offers several internal wallet technologies to store and keep your Crypto secure storage while purchasing, selling, depositing, and withdrawing. To preserve your funds, Swyftx uses a combination of cold, hot, and wallet storage methods, so it’s the best for buying Bitcoin Cash in Australia. 

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