The world of digital currency such as that of bitcoins is getting popular day by day. People from all around the globe are interested to trade in this field.
For people from Australia, it is getting even more exciting because there are many options available for them to invest. You can choose any of these options as per your suitability and need. Let’s see what are they.
Cryptocurrency ownership and interest have seen a significant surge globally, with statistics indicating a burgeoning market that continues to capture the attention of investors worldwide.
According to data from crypto.com, the end of 2021 witnessed nearly 300 million individuals globally holding some form of cryptocurrency, underlining the widespread adoption of digital assets. As of August 2023, the worldwide market capitalization of cryptocurrencies soared to a staggering $US1.09 trillion, as reported by CoinMarketCap.
Bitcoin remains the dominant force in the cryptocurrency landscape, constituting 48.6% of the total market value as of February 2, 2024, according to Coingecko. Despite its dominance, the market is dynamic, with other cryptocurrencies vying for prominence.
Projections for the future of the cryptocurrency market are equally promising. A forecast by Grand View Research suggests that by 2030, the global cryptocurrency market is expected to witness a compound annual growth rate (CAGR) of 12.5%, indicative of sustained expansion and opportunity within the sector.
Shifting focus to Australia, the country has showcased significant interest and participation in cryptocurrency markets. Estimates from Statista reveal that in 2022, 25.6% of Australians owned cryptocurrency, with Bitcoin emerging as the leading digital asset of choice.
A study conducted by the Australian Securities Exchange (ASX) in 2023 shed light on the evolving landscape of cryptocurrency investments in the country.
The study found that 29% of Australian investors expressed interest in purchasing cryptocurrency within the next 12 months, signifying a growing appetite for digital assets.
Moreover, the ASX study highlighted generational trends, indicating that 15% of Australian investors were already holding cryptocurrency in 2023, with the figure soaring to 31% among investors aged 18-24.
The study also revealed that the median investment in cryptocurrency among Australians stood at $5,100, underscoring the substantial financial commitment to digital assets.
Similar trends were observed in the United Kingdom, where a survey conducted by Forbes Advisor showcased that individuals aged 18-34 were twice as likely to own cryptocurrency compared to those aged 35-54, reflecting a generational shift in investment preferences.
The data portrays a dynamic and evolving cryptocurrency landscape, characterized by growing adoption, increasing investor interest, and shifting demographics.
Investing bitcoin in Australia
To invest in bitcoin exchanges, the very first thing that you have to do is register to an authentic and reliable virtual currency exchange. This is the platform from where you get to purchase bitcoins and later on withdraw them.
Most authentic virtual currency exchanges support all major payment methods such as debit card, credit card and even bank transfer. This makes it very convenient for people from australia to trade in this way.
But there are some drawbacks too, of which the most important is the high commissions that you have to pay. You may have to pay about 15% of the balance of your account as commission.
If you are not comfortable with such high commissions then you can go for another exchange or another form of transaction. But the best way to go for is the Australian platform of the bitcoin.
Australian exchange allows you to invest in the most secured and liquid marketplace. No other country will provide you with such an opportunity and the Australian government has also taken strong steps so that there is no trouble or fear in the exchange and virtual currency business in the future.
But the good news does not end here. With the rise in demand for the bitcoins, the Australian government has also taken strong steps to curb the menace.
The current amendments to the laws of the state will help you buy bitcoin at a reasonable rate from the investors who want it the most.
There have been instances where investors from australia were hacked because they had failed to follow the stipulated regulations. But with these amendments to the laws, they will be able to invest securely and safely.
Apart from the legalities, there are a few other things that you should know about the popular exchanges like the bitmap. The bitmap is another one of the many Australian based bitcoin exchange where traders can make profits from their transactions.
This is a much sought after service by the traders of this place because they can withdraw bitcoin very easily. They just need to login to their account and deposit the amount that they wish to withdraw in their account. It is really easy and simple and the traders will surely love this feature of the exchange.
While we are discussing about the bitcoin exchanges, it is advised that you should also know about the other forms of trading like futures, options and commodities. All these are still under the remotest control of the central authorities of the country.
But since australia is not one of those countries, you can enjoy the freedom of choosing which type of investment suits your taste. It has now become much easier for investors to trade these because the government has allowed them to operate in the country.
There are a lot more things that you should know about these popular exchanges. The most important thing is that you can now buy and sell your precious assets anytime of the day and anywhere in the world. This makes it the best place for traders all over the world to trade.
The new rules and regulation of the Australian government has made it easier for investors to conduct their business using the cryptospace.
The best places to invest in bitcoin in Australia
The best Cryptocurrency Exchanges in Australia are Swyftx and Coinspot. They are known for their low fees, their security, their ability to grow and adapt to new technology and their customer service.
They offer the best in the industry. These are just a few of the reasons that make them the best in Australia and the Cryptocurrency Industry.
To get to these great sites all you have to do is go online. They will have the bestcrypto Currency Exchanges, the lowest fees, the best customer service and the best customer support around.
This is just the start. If you want to learn more about how to buy bitcoin in Australia all you have to do is go to the site. There you will find everything that you need to know.
In order to get into the market and get the best exchange rates and transaction types available, you first have to become a verified member. Once you become a member you can then deposit into your account using one of their available methods.
This can either be a credit card, debit card or even an electronic check. There are different deposit methods depending on which Cryptocurrency you choose to trade in. Some of the most popular are PayPal, Forexworld and Moneybookers. These are the most accepted methods for the majority of Australia and New Zealand locations.
Swyftx
The new kid on the block in Australia, Swyftx was created to provide a transparent, convenient and cost-effective online foreign exchange. It aims to become the go-to site for consumers searching for affordable investment opportunities around the world.
A strong community driven website, Swyftx offers numerous benefits. From its homepage, a consumer can quickly search for a list of available trades to see what they’re worth and when.
Once a user finds a profitable trade, they can apply to trade using a professional broker. In the case of a successful trade, users earn from the difference between what the market has valued the asset at and the amount deposited into their account.
Coinspot
Coinspot is a trusted and reputable currency exchange in Australia. The platform offers a very secure environment for buyers, businesses and Super Fund investors to purchase, sell and trade all over the world’s most popular currency, including Dash, Doge, Lite, and Euro.
The Australian dollar is highly appreciated in the international market, especially in countries with stable economic status. However, if you are an investor and would like to trade in currencies, then you should consider trading in the Aussie dollar. The Australian dollar rate is highly fluctuating and is in a European or Asi
Conclusion
In conclusion, if you want to learn more about how you can buy bitcoin in australia, you should visit different platforms and compare them based on their rates and services. You will definitely find a platform that suits your needs and demands.
However, it is very important that you take into account their fees and other charges before making any decision. So make sure that you choose a platform that provides a transparent comparison between the rates, services, availability and other aspects of the different exchanges. That way, you can get the best out of your investment.
