How to buy Bitcoin in Australia?
October 08, 2019
You could find the acquisition of Bitcoins in Australia a challenging endeavor especially if you are new to the crypto world. There are too many ways how to make a BTC purchase. So, to avoid further confusion and any chance of losing money trying to grapple one’s way into buying these coins, it is suitable to follow a guide on buying Bitcoins. It is not difficult as it only entails a few measurements. Initially, you must select a Bitcoin wallet. Now they come in different manners, hardware, desktop, mobile, web wallets as well as paper wallets. Whatever you choose is fine as long as you read and understand the regulations and terms under which they function.
Australia’s Regulations on Bitcoin
While many nations have questioned and tried to fight cryptocurrencies like Bitcoins, Australia has done the complete opposite. Bitcoin is legal in Australia and more so, acknowledged and appreciated as property protected and scrutinized by the Capital Gains Tax (GGT). Before, cryptocurrency in Australia was double-taxed courtesy of the first policy instituted by the government immediately Bitcoin came to existence (Comply Advantage, 2019). However, the policy was changed as the regulatory board came to the understanding that it was unjustly hurting the cryptocurrency market. So feel free to use Bitcoins in Australia because you will not be breaking any laws. However, ensure to remain within the confines of the law.
Analysts believe that Australia will continue remaking its regulations concerning Bitcoin and cryptocurrency as time goes by. One predicted regulatory change is the introduction of compliance with the AUSTRAC by all operating cryptocurrency exchange (Comply Advantage, 2019). The move is intended to prevent criminal activities because it requires verification of identity, keeping trade records and compliance with all obligatory reports to the government. Secondly, it is observed that Australia will also scrutinize ICOs as per the Australian Securities and Investments Commission (ASIC), all in a bid to tame fraudulent transactions via crypto platforms (Comply Advantage, 2019).
Buy Bitcoin in Atomic Wallet
Atomic Wallet remains a trusted and reliable platform to buy Bitcoins, Ethereum, Stellar, Ripple, Litecoin, Dash and other top cryptos. Its mechanisms and systems are well configured to secure your trades and cryptocurrencies. So how do you buy Bitcoins on Atomic Wallet? Well, first, you must install the Atomic Wallet application by downloading it. Afterward, you will register an account and verify your details then proceed to get your Bitcoins. Buying Bitcoins on Atomic Wallet only requires that you link your credit card and transfer funds to the wallet account. The funds are automatically converted to USD currency regardless of what currency card you are using. Once the funds reflect on your wallet, proceed to buy BTC and click on the option, then choose the number of funds you wish to spend and confirm the purchase.
How to store Bitcoin
So now you have your Bitcoins. The next wonder is, where do you store them? Well, Atomic Wallet offers the best platform for storing your Bitcoins. It is a safe and secure wallet that holds up more than 300 types of cryptocurrencies. You can swap these cryptocurrencies in whatever way you prefer in the wallet and store them in that manner. For instance, you could exchange the Bitcoins to Ethereum or stellar and store them in that form or let them be in Bitcoin. Furthermore, it is prudent to acknowledge the benefits of Atomic Wallet besides the ability to hold many types of cryptocurrencies. Some of these pros include high security and smooth traffic for fast and easy trade or rather acquisition and selling of cryptocurrencies over the wallet platform.