How to Buy Ethereum (ETH) in Australia
Ethereum is the second-most popular cryptocurrency in the crypto space, and that is for a good reason. Prior to Ethereum’s launch in 2015, many cryptocurrencies.
Ethereum is the second-most popular cryptocurrency in the crypto space, and that is for a good reason. Prior to Ethereum’s launch in 2015, many cryptocurrencies that existed around the time were just improvements on Bitcoin, and nothing else.
Ethereum brought something new to the crypto space, which is flexibility. What Ethereum introduced was the smart contract functionality. This opened up a whole new possibility in decentralised finance — borrowing, lending, trading, initial coin offerings, crypto-backed stablecoins, oracles, and many more. If smart contracts haven’t existed yet, we wouldn’t have any of these things.
If you’d like to dive a little deeper on what Ethereum is and what it brought to the world, click on the link below. In this article, we’re going to talk about how to buy Ethereum in Australia, the safe and easy way around.
Learn more about Ethereum: What is Ethereum (ETH)? A Complete Guide
How to buy Ethereum in Australia?
Just like Bitcoin, Ether (Ethereum’s cryptocurrency) is a peer-to-peer decentralised digital currency. Which means, Ether can be purchased from several marketplaces, exchances and crypto retaulers. Now, the easiest and some of the most secure ways to buy Ether in Australia is through a crypto retailer.
A crypto retailer is like an online money exchanger where you can get the best exchange rates for between AUD and Ether. Easy Crypto is a crypto retailer that can help you convert your Aussie dollars easily to Ether (ETH) or 100+ other cryptocurrencies in our stock.
In this platform, you can securely transact, without worrying about any hidden fees. We will calculate and let you know about the network fee, service fee, and tax as plainly as possible.
Time needed: 5 minutes.
Here is how to buy Ethereum in Australia through Easy Crypto:
- Sign up
Sign up and verify your identity by following standard KYC and AML protocols, which is extremely quick to do. Once verified, you can buy or sell as many cryptocurrencies as you wish.
- Place an order
Click on Buy & Sell > Instant buy/sell on the navigation bar to quickly check today’s ETH / AUD rate.
- Choose destination
Enter the wallet address where you will receive your Ether. If you don’t have a wallet yet, here is an easy guide to getting started with Ethereum wallets.
- Choose your payment method
In Australia, you can pay using a standard bank transfer, pay via OSKO, POLI Pay, or Account2Account.
- Review & pay
Check that all details are correct — the amount of Ether you ordered, your wallet address, and your payment method. Complete your payment in this step.
We make the transaction at the blockchain level, meaning that you may need to wait a few minutes to an hour until the transaction is confirmed. The waiting time depends on how busy the network is.
- Admire your new portfolio
If you click on Tracker, you will see all the crypto assets that you’ve bought through Easy Crypto. Use these tools to help you monitor your net worth over time, and to pick the right time to sell your Ether!
Why do Australians buy Ethereum?
There are multiple reasons why Ethereum (like other cryptocurrencies) have become exceptionally popular in Australia:
- Multiple companies that make international payments reduce costs and increase effectiveness through transactions with ETH.
- Users have more online shopping options and can even get discounts for using Ethereum.
- Accumulating ETH tokens means an excellent option in the short, medium and long term, especially if it is purchased at a good price.
- The main objective of the Ethereum platform is to be an instrument for decentralized applications called smart contracts, which is why obtaining ETH tokens is very common among contributors in that community.
Is Ethereum legal?
Buying and selling cryptocurrencies like Ethereum through exchange platforms is legal. It is even considered one of the most efficient and immediate options for making international payments, especially through ETH for its good reputation.
There are some countries that limit the activities of crypto exchange’s and vice versa for political reasons, although this is not the case in Australia. In fact, the Australian crypto community is one of the largest worldwide.
It should be noted that crypto adoption is greater with each passing year, which opens new payment opportunities for different initiatives and represents new forms of savings for citizens around the world.
How to profit from Ethereum?
As with fiat currencies on the Foreign Exchange Market (Forex), cryptocurrencies like Ethereum and Bitcoin have price variations. That is, its value increases and declines due to supply and demand within the market.
Each ETH token has a value in AUD, USD and other fiat currencies. Assuming that you buy 1 ETH with AUD 300 and its price increases to AUD 400, we would obtain a profit of AUD 100 when selling said token. Even if Ethereum’s value falls, we could still take advantage of this move to get more tokens with a specific Australian dollar amount, which will confer a benefit if they go up in price.
In the crypto market, the value of an asset cannot rise or fall forever as there is market volume and changes in supply and demand. This guarantees that there will always be opportunities to obtain good returns from these price variations.
Ethereum: Frequently asked questions
Before you go, here some bonus information about Ethereum. Enjoy, and take some notes 🙂
$18.4 Million USD.
Ethereum had a code vulnerability in June 2016 which was exploited. The current Ethereum (ETH) ‘forked’ to fix the code and make transactions during the exploit null and void. Ethereum Classic continued on the old blockchain ledger. Currently, Ethereum (ETH) is the dominant of the two.
Bitcoin was created purely as a peer-to-peer cash system. Ethereum was developed to run decentralised applications with Ether as its internal currency.
There is no hard cap for Ether. At present, there is over 100 million in circulation.