How to Buy BitTorrent (BTT) in Australia?
BitTorrent is a peer-to-peer file sharing network that is much older than Bitcoin. Curiously, it works the same way for file transfers as it does.
BitTorrent is a peer-to-peer file sharing network that is much older than Bitcoin. Curiously, it works the same way for file transfers as it does for Bitcoin’s peer-to-peer payment system.
For many years, BitTorrent has helped millions of users download or distribute large amounts of files without having to expend so much Internet bandwidth and resources. By sourcing data from multiple users with extra bandwidth, downloaded data don’t have to be sourced from geographically limited servers.
The technology behind it is fascinating. If you’d like to know more about it, click on the link below. In this article, we’ll be focusing more on how to buy BitTorrent in Australia — easily and securely.
How to buy BitTorrent (BTT) in Australia?
It’s common to buy BTT through crypto exchanges, decentralised swap platforms, and crypto retailers. If you’re only planning to invest for the long-term, buying through an exchange may not be the best choice. These platforms are designed for trading, with all the tools available for traders.
On the other hand, a crypto retailer like Easy Crypto Australia is designed for retail investors, with a simpler interface and transparent pricing. We actually did a numbers comparison of popular exchanges in Australia, and we found that hidden costs is the number one factor that reduces your buying power.
Here is how to buy BitTorrent (BTT) through Easy Crypto:
1. Sign up
Sign up and verify your identity securely and easily on Easy Crypto. This won’t take too much of your time. Follow all the instructions to successfully go through the standard KYC/AML procedure.
2. Place an order
Once you are verified, you can place a new order. Click on Buy & Sell, and then Instant buy & sell. Click on BTC and select BTT from the dropdown menu. Here, you can see the most current AUD/BTT rate.
3. Enter your receiving wallet address
Please enter a valid Tron wallet address or any other wallets that support BTT tokens.
Important. Do not mistype your address. Cryptocurrency transfers cannot be refunded. The best and easiest way to avoid this mistake is to simply copy-paste your address or use the QR code if available, instead of individually typing each character of your address.
4. Pay with Australian dollars
At Easy Crypto Australia, we offer you several payment options such as POLI Pay, A2A, or a regular bank deposit. There is no need to exchange AUD with USD or any other fiat currencies, and you don’t need to use your credit card!
5. Wait until your transaction is confirmed
Unlike in crypto exchanges, we trade on the blockchain. This means that you will need to wait for the official confirmation by the Tron blockchain explorer. Once your wallet balance has increased, you can know that the BTT tokens that you just ordered are 100% yours.
How to invest in BitTorrent(BTT)?
There are many different ways to invest in BTT tokens. The principle of investing is not to pay much attention to the timing of the market, but to estimate its future value, and to decide how much to accumulate in the present.
Different ways to invest in BitTorrent (BTT)
1. Lump sum investing
If you are truly confident in the future value of BTT, and you found yourself an opportunity to buy the coins at the lowest price possible, you could invest in a large sum of BTT at once. This is known as “buying the dip” by some investors. Do keep in mind that this is still risky, as the price could still continue fall.
2. Distributing files
BitTorrent is a peer-to-peer file-sharing network, so there is a lot of incentive to become a seeder, someone who regularly distributes files across the network. This is as opposed to someone who is referred to as a leecher, someone who only receives files, but never gives back.
3. Dollar cost averaging (DCA)
Dollar cost averaging (DCA) spreads the volatilty risk over time, while offering a chance to earn a decent return in the future. This is the possibly the easiest style of investing for retail investors, as it offers the lowest level of risk when participating in the market.
You can easily apply this strategy using two free features offered by Easy Crypto — the portfolio tracker and the auto-buy features.
How to track your BitTorrent earnings
If you go to the navigation menu and click on Tracker, you’ll find a list of coins that you have bought through Easy Crypto. If you haven’t, then all it will display is a demo portfolio.
Tracking your BTT earnings is so easy. Easy Crypto will calculate your portfolio’s worth in Aussie dollar, including how much profit you’ve generated, and what that looks like over a period of time. With the net worth chart, you can make decisions on whether to buy more BTT or sell a few or all of them to realise your investment profits.
How to automate your BitTorrent investments
For some people, investing in cryptocurrencies routinely is a challenging habit to build, as volatility is part of the package in cryptocurrencies. Fortunately, even the most volatile cryptocurrencies can be “tamed” by the dollar-cost averaging method.
With this method, you will most likely buy the crypto asset for its average price. When the time comes, a surge in demand means that the price will be much higher than the average — you could choose to sell at this point.
At Easy Crypto, we offer the Auto-Buy feature to help build up your investing habit. Click on Buy & Sell > Auto-Buy to learn more.
Automate, diversify, and track your net worth in crypto
Combining these two features will make you a legendary crypto investor. Take note, the world’s best investors aren’t necessarily the most intelligent short-term traders. Instead, they take the time to learn about the assets, their future outlook, and then routinely invest in them, along with other assets to keep their portfolio diverse.
Stay informed about the crypto space
Lastly, to be a crypto investor, you need to stay updated about the crypto space in general — like regulations, social adoption of crypto assets — as well as news that are specific to your chosen crypto coins.
Stay curious and informed
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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