2021 GUIDE ON HOW TO INVEST IN BITCOIN IN AUSTALIA

 Bitcoin has taken the world by storm, with the involvement of Telsa CEO Elon Musk. Bitcoin is undoubtedly going to become one of the most valuable Asserts in the world. At the Moment Bitcoin is valued at $49,000, remember it used to be worth 1$ back in 2010 but that figure has drastically changed to $49,000 with a record high of $65,000 per coin

What is Bitcoin and Why as An Australian You Should Invest in Bitcoin

Here is how Investing in Bitcoin Works. Bitcoin is a digital currency also referred to as internet money, it was created by an unknown programmer with a fake name called Satoshi Nakamoto back in January of 2009. There is no Physical bitcoin in this world. Bitcoin is created and earned through mining and the record system that keeps the bitcoin translations is called Blockchain. Blockchain technology can be referred to as a large ledger system that keeps a record of the bitcoins. No one can cheat the system as every translation of new bitcoins produced is recorded. The computer systems that make up the mining community are called Nodes or miners. The creation of New bitcoins requires an intensive form of electricity computer energy but I’m not going into the nerd stuff.

Bitcoin is a decentralized cryptocurrency, though wallets have been created where bitcoin is shown to be stored. bitcoin is actually not stored in those wallets rather it is stored decentrally on a blockchain network.

Bitcoin Investing in Australia

When investing in bitcoin you need to know that you can purchase them on a blockchain exchange network and you can also trade your bitcoin for profit on trading platforms.  Bitcoin can also be used as a way to save money instead of keeping some of your hard-earned flat money at the back you can purchase bitcoin and keep some of your money as a decentralized Bitcoin cryptocurrency.

2021 Producer on How to Invest in Bitcoin When in Australia

1. Create A Bitcoin Wallet

Create a Bitcoin Wallet You can select where you want your wallet to be, there are a Number of Online Bitcoin Australian Wallets you can choose from you can also Download Offline Wallets. Called Hard Wallets and decided to keep your Bitcoins offline. The Advantage of having wallets online is that Some services like Coinbase pay you interests rates annually when you store your Bitcoins on their platforms.

Here is a list of some of the 3 best Wallets to select from when investing in Bitcoin.

1. Coinbase Wallet Online Wallet

          2.Tezor Hardware Wallet

3. SoFi

3. Purchase Bitcoin

You need to fill your wallets with some Bitcoins and the only way to do that is if you purchase the Bitcoins. What you are now doing is Bitcoin investing in Australia. Here is a Quick Guide on how to buy bitcoin in Australia.

Online Bank Transfer- (POLi) is the recommended way to buy bitcoin: This for most Australians is a secure way to buy bitcoin and start their crypto journey.

Cash Exchange: Simply visit your nearest Bank and Exchange your Australian dollars for Bitcoin. Banks in Australia allow people to easily Exchange their Cash into Bitcoin. This is how you can invest in Bitcoin in Australia.

Buy from Newsagents: Bitcoin in Australia can also be bought on the counter at over 1,300 Newsagents across the country of Australia. Bitcoin trading is legal in Australia to invest in Bitcoin using your cash go to a Newsagent and buy Bitcoin.

Flexing: You can start your Bitcoin Journey in Australia by purchasing a flexing voucher from an active retailer and redeem the flexing voucher easily to Bitcoin

Note: When you are buying Bitcoin in Australia or setting up online wallets you will be asked to give your Mobile Number or Email address, and sometimes some verification processes for additional security.

3. Keeping Your Bitcoin Secure

Bitcoin is quite secure on its own but people are gullible and because of this gullibility most of us get scammed or we lose our security keys to scammers. Here is a quick guide on how you can keep your Bitcoin Currency secured.

1. Creating Back Ups of Your Private Keys

Always have Backups of your private Keys store them somewhere. This Will Help You to Protect it from things like fire, hardware failure, fraud or scams,s, and other things. When you want to invest in Bitcoin in Australia always keep backups of your secret Key.

2. Always Keep Your Wallets Up to Date

With Bitcoin Security is everything, Always Keep Your Wallets Up to Date with the Latest Software, this helps to keep your translations secure and hack-free. Updated software’s have additional securities and most updated software have their bugs fixed this is how you can keep your crypto investment in Australia safe.

3. Keep Your Private Keys A secret

Never Give them to anyone, when you give people your private key it’s the same as giving them your Bank Account Meaning they can make money or your Bitcoin investments easily. Crypto investment funds in Australia can easily be taken from you if you hand out your bitcoin privacy keys

Buying A House With Bitcoin in Australia

There is no doubt that Bitcoin is Available assert, and when you are a holder, you might benefit from keeping Bitcoin as it has numerous advantages. Bitcoin investing in Australia has benefited a lot of people and here are some instant applications of Bitcoin Funds in Australia.

Yes, you can Buy Property in Australia using Bitcoin things like houses Numerous people have grown accustomed to bitcoin and they do accept it as a form of payment in buying houses and other properties.

Inclusion

We hope this easy 2021 guide on how to invest in Bitcoin has been useful to you, Investing in CryptoCurrency like Bitcoin in Australia might seem hard as you try to have Bitcoin Funds in Australia but with this simple how-to do an outline. We have tried to simplify the way you can invest in Bitcoin in Australia, the way you can buy bitcoin in Australia. You can buy them at Banks, Newsagents, you can earn Bitcoin by redeeming your Flexing, and lastly through cash exchange.

Keep your private and secure, buy Backing the bitcoin private keys up, by constantly updating your Desktop and Mobile Bitcoin wallets, and lastly, avoid displaying Your private Keys.