If you live in Adelaide and want to learn how to buy Bitcoin and other cryptocurrencies, you’ve come to the right place. Over a hundred distinct digital currency exchanges serve Adelaide locals and allow them to deposit AUD to begin purchasing digital assets.
How Do I Buy Crypto in Adelaide?
1. Create Your Account With Swyftx
To buy Bitcoin in Australia, you’ll need to sign up for a Swyftx account. And get started, go to the Swyftx website and click on the “Sign Up” option. Next, you’ll be directed to the registration page, where you’ll see the coupon code.
Please provide a valid email address, a secure password, full name, and a working phone number when signing up for our newsletter. After you accept all the requirements, click “Create My Account.”
2. Complete Identity Verification
As soon as an account has been created, the next step is to begin the ID verification procedure in compliance with Australian law’s Know Your Customer (KYC) and Counter-Terrorism Financing (CTF) rules. AUSTRAC’s rules require that an account be validated before an AUD deposit or withdrawal from a wallet.
Swift features a quick and efficient verification process that can be finished in as little as two minutes after creating a new account. Log in to your account and select the ‘Verification’ tab under the ‘Profile Tab’ to verify. An email, cell phone number, or identification document number must be provided to be used.
3. Secure Your Account and Activate 2FA
You must ensure the safety of your funds in a crypto exchange account—through Two Factor Authentication enabled (2FA). Once an account has been verified, the next step is to make a deposit.
When using two-factor authentication, the user’s account and withdrawal requests must be verified using two different means. Authy and Google Authenticator are two popular two-factor authentications (2FA) programs for iOS and Android devices, respectively.
4. Deposit Money In AUD
Finding a currency exchange that offers local deposit options in Australian Dollars is crucial. The majority of Australian cryptocurrency exchanges accept payments in straight AUD with various fees. Bank transfer, POLi, and PayID are the three most popular depositing money into an account.
POLi immediately connects with Australian Bank accounts and processes payments. In terms of PayID and bank transfers, this can take anywhere from one to three working days. Cash deposit at a local newsagency, BPAY, and credit cards are just a few of the other payment options offered by several Australian exchanges. Only Swyftx in Australia supports credit card purchases of Bitcoin.
5. Buy Bitcoin
You can purchase Bitcoins after your account has been confirmed and AUD has been deposited.
Simply click “Trade” in the sidebar on the left to get started; this will bring up a list of your “Assets,” from which you can choose Bitcoin by performing a search.
Next, click “Instant Buy” after determining your budget in Australian dollars. You will purchase the quantity of Bitcoin you specify, and your transaction history and Swyftx wallet will be updated to reflect the new value.
Where Can I Buy Bitcoin in Adelaide?
Since you now have the procedures needed when buying bitcoin, the second step is to apply the knowledge. Below are some of the best bitcoin exchanges in Australia.
1. Swyftx
Among Australia’s leading cryptocurrency exchanges, Swyftx is dedicated to making cryptocurrency trading as convenient and straightforward as possible for residents. Thanks to their online wallet, trading on this exchange is a breeze, which takes the agony out of it.
Exchanges frequently ask for bitcoin purchases to be made in a separate wallet, which can be inconvenient. Swyftx, on the other hand, simplifies day trading by enabling you to swap or acquire bitcoin rapidly. All of this is possible because of the platform’s built-in crypto wallet, which makes using the service a breeze.
Additionally, Swyftx’s user interface is very user-friendly; thus, it’s an attractive choice for new users. Besides, the team’s experienced staff is also helpful because you can always contact them if you need help. Now that these features are in place, Swyftx is well on its way to becoming the leading cryptocurrency exchange for both novice traders and experienced investors.
2. CoinSpot
CoinSpot is a well-known bitcoin exchange with its headquarters in Melbourne, Australia. It’s a peer-to-peer exchange that caters to many customers, from novices to seasoned traders, and makes trading simple. In comparison to other Australian exchanges, it offers the broadest assortment of blockchain assets.
Using CoinSpot, consumers can enter the digital currency market because it’s safe and straightforward. Since the company was launched in 2013, they’ve been able to deliver on this promise consistently. Aside from a few minor bugs, this platform has received nothing but rave feedback from its customers.
CoinSpot’s customer service is likewise top-notch, offering speedy assistance and practical solutions. Also, the customer service team is on call around the clock, so you can always get in touch with them if you have any questions. Some buyers believe it is the best product of its sort in Australia.
3. Independent Reserve
In 2013, Independent Reserve was one of Australia’s first cryptocurrency exchanges to be opened and was chosen as the top Australian digital currency exchange in 2019.
Independent Reserve has a Cryptocurrency Tax Estimator tool. KPMG developed this function to assist traders by predicting their portfolio’s tax requirements. And the best of all is that using this function is as simple as clicking a button.
With this exchange, you can also opt to trade Ethereum and Litecoin. Your orders can be converted into the currency of your choice using Independent Reserve’s multi-currency order book.
Where Can I Use Bitcoin in Adelaide?
The number of people using bitcoin in Australia is relatively low because a significant portion comprises rural areas hostile to cryptocurrencies.
However, in Australia, the most significant cities are where you’ll find merchants accepting Bitcoin. This covers Melbourne, Perth, Sydney, Adelaide, and Brisbane, with Melbourne and Sydney leading. Hotels and restaurants all accept bitcoin as payment in these locations.
Buy Bitcoin in Adelaide With Swyftx
Generally, Swyftx is an Australian crypto exchange with a solid reputation and a robust feature set that is simple to use for both new and seasoned investors. Compared to other exchanges, the low spreads and competitive trading costs of 0.6 percent make this exchange stand out.
Additionally, It has an easy-to-use interface, no AUD deposit fees, and top-notch customer support, making it one of the best crypto exchanges locations in Australia.
