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Everything You Need to Know About Bitcoin in Australia

What is Bitcoin? Developed and released to the world in 2009 by an unknown creator going by the alias ‘Satoshi Nakamoto’, Bitcoin (BTC) was the.

Posted August 17, 2019

Bitcoin BTC physical gold coin on pile of Australian dollar bank notes AUD what is Bitcoin
Bitcoin BTC physical gold coin on pile of Australian dollar bank notes AUD what is Bitcoin

What is Bitcoin?

Developed and released to the world in 2009 by an unknown creator going by the alias ‘Satoshi Nakamoto’, Bitcoin (BTC) was the first successful cryptocurrency gifted to the world. Bitcoin is now over 11 years old, and has seen a 99.9% network uptime over it’s short yet exciting lifespan.

The logo and icon of Bitcoin (BTC) on transparent background

Bitcoin represents a brand new class of money – one that is purely native to the internet and is not controlled by banks, governments or other corporations. Due to these reasons and more, Bitcoin has exploded in price in recent years, and has generated an unprecedented amount of hype, speculation and global adoption.

Bitcoin price AUD from 2014 to 2020 log scale BTC Coinmarketcap
Bitcoin price in AUD from 2014 – 2020

These factors combined assisted Bitcoin in achieving the title of the best-performing asset of the 2010s – and BTC already stands tall as the best performing-asset of 2020.

For a quick rundown on the basics of Bitcoin, the 2-minute video below will prove immensely helpful. ๐Ÿ™‚

How to Get Started with Bitcoin Australia

If you want to own or buy Bitcoin, you first need a place to store your Bitcoin safely.

This is the role of a Bitcoin wallet – a digital account that you store your Bitcoin in. Everyone who owns Bitcoin also owns a Bitcoin wallet, and the good news is that Bitcoin wallets are free, safe and very easy to set up.

Click here to see our guide on your best choices for Bitcoin wallets in Australia.

Bitcoin wallet Australia man holding wallet with BTC coins and card

Why Do People Buy Bitcoin?

There are many good reasons to use and buy Bitcoin, but most people use Bitcoin as an alternative currency, investment vehicle, store of value, or as a self-sovereign banking platform.

Self-Banking

Since Bitcoin wallets are independent to banks, governments and corporations – when you own Bitcoin, you are in full control of your money, and you possess supreme and exclusive rights to your Bitcoin wallet and stash.

International Transfer

The Bitcoin network is native to the internet, so transactions within the Bitcoin network have no comprehensions of international borders. Bitcoin can be sent anywhere in the world in seconds, generally at cheaper fees than when using traditional currencies.

even in 2020, in some cases, it’s faster to strap your cash to an anvil and fly it to your recipient’s location than it is to send it via traditional international money wire.

Universal Currency

Due to Bitcoin existing solely on the internet, the only limits to Bitcoin’s accessibility is accessibility to the internet itself. Anyone on Earth with an internet connection and smartphone can use Bitcoin as a universal currency – and transact this virtual money seamlessly on a level playing field.

Private & Censorship Resistant

Thanks to Bitcoin operating on its own platform-independent to governments, banks and corporations, unless you choose to link your real-life identity to your Bitcoin wallet, there is no way that banks, governments or other corporations can view your wallet balances or transactions.

All Bitcoin transactions are 100% irreversible, and there is no central customer service helpdesk you can call to reverse a transaction or request a refund. All transactions on the Bitcoin network are immutable – period. You also don’t need to ask for permission to make a transaction, nor can anyone stop you from making one.

BTC What is Bitcoin gold coin Australia with trading chart with green candels

Regardless of how people chose to use Bitcoin, there is one thing that is undoubtedly clear – Bitcoin is nothing short of a catalyst for a financial revolution.

Now that we’ve covered what is Bitcoin and how Bitcoin wallets work, there is a high chance that you now want to buy Bitcoin and toy around with some BTC in Australia yourself.

Easy Crypto Australia logo buy Bitcoin

How to Buy Bitcoin in Australia

If you’re looking for a safe, fast and easy place to buy Bitcoin in Australia, look no further!

You’ve just found Easy Crypto Australia – Down Under’s easiest place to buy and sell Bitcoin and 40+ other top cryptocurrencies.

The homepage of Easy Crypto website, the place to buy Bitcoin (BTC) and other cryptocurrencies in Australia

Easy Crypto Australia is your best choice to buy Bitcoin for three key reasons:

  • You can create a free account with us and buy Bitcoin in 5 minutes.
  • We offer a 100% funds safety guarantee across all buy Bitcoin orders.
  • Easy Crypto Australia offers a free Bitcoin portfolio tracker to all customers, so you can easily track and watch your Bitcoin nest egg grow.
Easy Crypto portfolio tracker demo
Click here to see your personalised Easy Crypto portfolio demo.

Easy Crypto was built with the purpose of making it as easy as possible for the average Australian to get into Bitcoin investing.

For this reason, our minimum order size is $50 AUD, so everyone from all walks of life can easily participate in the exciting new world of Bitcoin.

The five-star reviews for Easy Crypto via Trustpilot
The five-star reviews for Easy Crypto via Trustpilot

With over 13,000 customers across Australia, New Zealand and South Africa, Easy Crypto will prove to be your ideal flagship exchange for buying and selling Bitcoin in Australia.

Click here to get started with Easy Crypto to buy Bitcoin in Australia today.

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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.

Last updated August 24, 2022

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