Buy Bitcoin in Australia easily using a peer-to-peer (wallet-to-wallet) trading platform like Elbaite cryptocurrency exchange.
To buy Bitcoin (BTC) in Australia, simply:
1 - Get a Bitcoin Wallet
This is where you will store your purchased Bitcoin. You can get a free online wallet or purchase a hardware wallet. Elbaite is a non-custodial exchange. We do not hold your Bitcoin in a centralised wallet, meaning you are free to use any crypto wallet of your choosing.
2 - Find an offer from a trusted seller on Elbaite cryptocurrency exchange:
Elbaite connects trusted sellers to trusted buyers. Find an offer on Elbaite at a price and amount you would like to buy.
3 - Pay for your Bitcoin purchase
Pay the agreed amount using your bank account. On Elbaite you can pay using OSKO/PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your Bitcoin in your wallet. The seller will never know your banking details, keeping your data private.
Bitcoin is the largest cryptocurrency by market capitalisation and the most well known cryptocurrency. The Bitcoin Blockchain was first released in 2008 by an anonymous figure by the name of Satoshi Nakomoto in a paper called: "Bitcoin: A Peer to Peer Electronic Cash System”. This paper proposed the Proof of Work protocol as a solution to the "double spend" problem inherent in digital currency. Total supply of Bitcoins is capped at 21 million. The smallest unit is the 8th decimal place, 0.00000001 BTC which is called a Satoshi (or sat). The network is maintained by miners who validate and write transactions into the Bitcoin blockchain via the Proof of Work protocol. Miners are incentivised by being rewarded with Bitcoins. This reward is halved approximately every 4 years.
Why buy Bitcoin (BTC) with Elbaite cryptocurrency exchange? Elbaite is the first non-custodial wallet-to-wallet Australian cryptocurrency exchange.
Unlike other Australian crypto exchanges that hold your cryptocurrency in their own centralised wallets, Elbaite's wallet-to-wallet trading means that your Bitcoin is not held by us at any point. This is a safer and more simple trading process, giving you greater control and freedom over your cryptocurrency!
How do I store my Bitcoin (BTC)? There are many options you can explore when it comes to safely storing your Bitcoin, including using hot and cold crypto wallets. Conducting your own research is crucial to keeping your Bitcoin safe.
What are Hot Wallets?
Hot wallets are crypto wallets that are connected to the internet. They offer better accessibility which simplifies more frequent trading. However, they offer less security against hacks and fraud incidents.
What are Cold Wallets?
Cold wallets are crypto wallets that are not connected to the internet. The two main types of cold wallets are paper wallets and hardware wallets such as Trezor and Ledger wallets. Cold wallets are a popular option for those who value security, or for traders holding Bitcoin as a long term investment.
More Bitcoin information