How To Buy Bitcoins Here in Australia

It is easy to buy or to sell bitcoins in Australia. There are many exchanges based in Australia that are accessible online. That makes it very simple for anyone anywhere in the world to do business with an Australian bitcoin exchange.

Brick and Mortar Exchanges

There are physical brick-and-mortar bitcoin exchanges available in Australia as well. At BitRocket Capital in New South Wales, you can trade bitcoins while having a pastry or even an entire meal. If you like, you can pay for your meal in bitcoin, too. Most bitcoin exchanges deal only in cash but most of those establishments are working to make other methods available. Some exchanges have an ATM system for buying bitcoins. Most exchanges that currently accept credit cards will often charge higher transaction fees for that service.

Bitcoin Wallet

In order to buy bitcoins, you must have created a bitcoin wallet like at Coinbase for example. Within the wallet you can create an address for that transaction. Once the bitcoins are purchased, the exchange sends that bitcoin value to your wallet address. Transfers can be very fast but more often take two to three days.

Because there has been an increase in attempts at fraud using bitcoin, the exchange will ask you to verify your identity. Bitcoin cannot be refunded once it has been sent to its destination address. The transaction is completely irreversible.

Scams and Fraud

There are some known scams associated with bitcoin transactions. One of them involves convincing the victim to pay for a product by bitcoin to receive a huge discount. Of course, the discount never happens and the product is never delivered. The victim has sent bitcoin to an address that is owned by the scammer. Although there are warnings about a scam in which you are told you can pay your utility bills in bitcoin, there actually in one exchange in Australia that has been established to enable that kind of transaction. So, again, due diligence is always in order. Everyone needs to pay a high degree attention to the security surrounding bitcoin transactions than is paid to regular banking transactions. As stated previously, bitcoin is completely irreversible. If the transaction is sent to an incorrect address, it is lost and you have absolutely zero recourse. Stay up-to-date with what scams are happening by frequenting Crypto Coin News.

Security

Should you choose to add another level of security to your bitcoin transactions, you can use an escrow service. That will, of course, add to the cost of your transaction but it will help you to sleep better at night. Also be aware that some establishments whether brick-and-mortar or online may charge withdrawal or deposit fees. As in any important transaction, read the fine print and be aware of all the fees your transactions might incur. Most physical bitcoin establishments are open Monday through Friday during standard business hours. They are closed over the weekend. Online bitcoin exchanges will be available anytime of the day or night for your convenience. Whether you choose to buy or sell bitcoins through the internet or to trade with a physical establishment, you have a wide choice of Australian bitcoin companies to deal with but we recommend Buy A Bitcoin as the best and safest option.

Source: https://buyabitcoin.com.au/ 

Choosing Bitcoin As An Investment

Transacting online can now be done in very simple steps; all you need is to download an app. The internet has made it a lot easier to transact online. It is easier to do businesses online as well as buy items online. The modes of payments have also been made flexible. Nowadays, there is a way that allows you to buy products online. It is fast gaining acceptance by small businesses owners. It seems like everything is going the internet way. Payment has been made a lot simpler and you can pay without any stress. If you would want to know more about making payments online, then you have come to the right place. The digital currency is the new mode of transacting in the online platform. Bitcoin is becoming popular each passing day. Here are a few things that you need to know about this digital currency before you get started using it.

 

What is bitcoin?

It is a digital payment system created by satoshi nakamoto. They were released in 2009. It is not controlled y anybody since it in electronic means. The system used is peer to peer and this allows you to transact without any middlemen. Unlike Euros and dollars that are printed, the digital currency is not printed. It is most used by people who run their businesses on an online platform. It is the first of its kind falling under the category cyptocurrency. Given that they are fast gaining acceptance by several merchants it means that you can easily buy pizza, web hosting services and manicures online without any stress. You use the coins to buy items anonymously. Most small businesses prefer to use this method for payment because it does not have any fees. The absence of fees makes it easy for business owners to increase their profits.

Advantages

There are number of things that make this coin different from other currencies. Here are the advantages that you will enjoy when you choose to use this modern day money.

Easy set up: conventional currencies require you to open a bank account that takes a lot of time. With the digital currency you can do this in a matter of seconds.

Decentralized: it is not controlled by any authority. This simply means that no authority can take away these coins.

Transparent: it has a block chain that keeps records of all transactions. The protocols cannot be controlled by the government or anybody else. It is easy to know the transactions that have taken place thanks to the bitcoin block chain.

No transaction fees needed: you do not have to part with any money when doing your transactions. It has lower fees compared to PayPal because and credit cards.

Fast: you can send money around the world and it will be received in just a few minutes after the payment has been processed.

Less risky: it is not easy to be conned when you use this modern payment method. Once a transaction has been done it cannot be reversed.

Secure: it protects you against theft because your personal details are hidden. It can also be encrypted.

Disadvantages

Everything that has an advantage must have a disadvantage. Here are some of the flaws that will make it hard to use bitcoins.

Uncertain: it is not guaranteed whether bitcoin will be in existence a few years to come or not. There are so many things that may lead to its downfall.

Understanding: a good number of people do not know about this digital currency. Thus, the people should be educated about it so that they can use this currency.

It does not have buyer protection: once a buyer sends the money and the seller does not deliver the goods; he cannot claim his money back. The buyer will be left to count his loses.

Easy to lose the wallet: you can easily lose your wallet if your hard drive becomes crashed or the information is corrupted by a virus. It will not be easy to get your coin back.

Buying bitcoins

Now that you know the pros and cons of these coins, you are wondering how to go about buying them. Well, you do not have to worry anymore because it is very simple. There are so many bitcoin exchanges or marketplaces that allow you to buy or sell bitcoins. When you buy the coins, you can either pay for them using debit cards, wire transfer or credit cards. You cannot buy digital currency using your PayPal account or credit card. These companies do not allow the buying of digital currency for security reasons. Those who are in the United States can use coin base and circle allows them to make purchases with their credit card. It gives you the convenience that you need to get your product.

Storing your coins

Once you have bought your coins, you can store them in your digital wallet. The digital wallet is some kind of a bank account. There are different wallets for different security levels. You can choose to go for software wallet that allows you to store your currency on hard drive, vault service or a web-based service. You should make sure that you backup your wallet in case you opt to use hard drive. Getting the coins is hard and losing them will leave you stressed. Losing these coins is the last thing you need. It is therefore important that you store your digital wallet with a lot of care.

Conclusion

Bitcoin is a new technology and if it get acceptance people. It can transform the world just like the internet and Smartphone. It is still some kind of experiment on digital currency. However, it is fast gaining acceptance in the online marketplace. Many merchants are opting for this type of currency because of the convenience it provides. If you do a lot of transactions online, then you can opt for using the digital currency. However, you can only use it for merchants who accept it as a mode of payment. Now that you know everything there is to know about his form of digital currency, you can go ahead and try it out. You will be amazed at the convenience it offers.

Source: https://buyabitcoin.com.au/