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How to Buy DigiByte (DGB) in Australia

Digibyte is a decentralised blockchain network, much like Bitcoin and Ethereum. What makes Digibyte unique is that the network combines the best of both Bitcoin.

Posted September 23, 2021
Last updated August 24, 2022

Blue DigiByte (DGB) logo on a cream background.
Blue DigiByte (DGB) logo on a cream background.

Digibyte is a decentralised blockchain network, much like Bitcoin and Ethereum. What makes Digibyte unique is that the network combines the best of both Bitcoin and Ethereum. 

Digibyte adopts Bitcoin’s Proof of Work while layering the protocol further with five hashing algorithms to ensure speed and distribution of hash power.

On Digibyte, decentralised applications can also be built, because the network can accommodate smart contract functionality, making the network versatile.

There are so many fascinating things to know about Digibyte. If you would like to know more about Digibyte, click on the link below.

Learn more: What is Digibyte? The Fastest UTXO Blockchain Explained

Where to buy Digibyte in Australia

You can obtain Digibyte on several platforms, most notably crypto exchanges and crypto retailers. If you buy from a crypto exchange, your DGB coins will most likely be stored in a custodial wallet, and you would have to make a withdrawal after a purchase.

While custodial wallets make it seemingly easy to buy and sell cryptocurrencies, there is a problem with custodial wallets. It’s not designed for investing, but for trading. Here is why.

Crypto exchanges are designed for trading. This means, the trading platform must temporarily hold on to your funds in a custodial wallet. This allows for near-instant transactions for trading execution. 

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However, the funds in your custodial wallet are not technically yours, because the exchange platform would have your private key. You will be dependent on the custody of a third party, knowing full well that there is a risk of exchange hacks.

If you are not interested in trading, but you’d like to periodically invest in DGB, then the best place to do that is a crypto retailer, like Easy Crypto. 

How to buy Digibyte in Australia with Easy Crypto

Before buying Digibyte (DGB), you first have to create a crypto wallet. There are many choices of crypto wallets, and even Digibyte has its own dedicated wallet to store some DGB.

However, for beginners we recommend Exodus (a software wallet) for desktop and mobile, and Ledger or Trezor for hardware wallets.

What’s the difference between software and hardware wallets? Both types of wallet can securely store your private keys. However, you can take hardware wallets offline and still be able to receive funds. Arguably, this makes hardware wallets more secure than hardware wallets.

Now, with that out of the way, let’s jump on how you can buy DigitByte (DGB) in Australia.

Read more: Here’s a more comprehensive guide on crypto wallets.

Create a new account at Easy Crypto

Don’t have an account yet? Start by clicking on Sign Up. Complying to Aussie financial service regulations, you’ll be asked to follow a standard KYC procedure.

Don’t worry, it’s as simple as filling out your ID number, and taking a selfie with your ID card. 

Easy Crypto sign up pop-up.

Once you are verified (which should take around an hour), you are good to go. 

Buy DGB at an instant

See this menu on the top right? On Easy Crypto, you can order one or more crypto assets at once. 

Easy Crypto header menu for Digibyte.

Experienced crypto investors will make use of the Auto-Buy feature, but if you’re just getting started, try the Instant buy & sell option first. Later, when you’re comfortable you can try the Auto-Buy and Swap feature.

To buy DGB, click on Instant buy & sell, and pick Digibyte in place of Bitcoin.

Easy Crypto quick buy/sell pop-up for Digibyte.

Let’s not forget to mention the beauty of Multi-coin order. With the Multi-coin order, you can diversify your crypto investments with all your favorite cryptos in one basket. This allows you to invest even more responsibly. 

Easy Crypto multi-coin page for Digibyte.

Make the order and complete your payment

At this step, it is important to avoid mistyping your crypto wallet address. Cryptocurrency transfers cannot be refunded. The best and easiest way to avoid this mistake is to simply copy-paste your address, instead of individually typing each character of your address. 

Finally, you can pay with Aussie dollars. We accept transfers from major banks in Australia. For your convenience, we’ve also included POLi as a payment option. It’s an instant payment service that collaborates with most Aussie banks.

You will need to wait as we process your crypto transactions directly on the blockchain

Need help with your crypto order? This article can help you.

Why buy Digibyte through Easy Crypto?

Easy Crypto is one of Australia’s most trusted crypto retailers, because we are fully compliant with the Australian Transaction Reports and Analysis Centre (AUSTRAC). Our Australian bank partners have also helped us to provide a seamless exchange between Aussie Dollars and Digibyte, and also the 100+ cryptocurrencies that we offer.

That’s right, you don’t need to exchange your Aussie dollars with US dollars. Most overseas crypto exchanges operate with the US dollar, so you might have to use a credit card to buy crypto assets.

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Remember, if you are interested in trading DGB, by all means find a platform that can accommodate things like bid & ask limit orders, auto orders, and leverage. You will find plenty of good brands just by online search.

However, if you prefer to be a cryptocurrency investor, and you want to excel at it, then choose Easy Crypto as the investor-friendly platform in Australia.

Disclaimer: Cryptocurrency prices can fluctuate wildly. Do your own research before investing.

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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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