Bitcoin Price Aud

Bitcoin Price AUD

Bitcoin Price AUD

 

Bitcoin Price and Australian Dollar Correlation

Stuart Butler | 2019

What do we mean when we say Bitcoin Price AUD…

Many people search Bitcoin Price AUD as the quickest way to find the price of Bitcoin in Australian dollars.  Why? you ask…  Because day in and day out, more Aussies are jumping on the Bitcoin train.  They are searching for the term Bitcoin more than ever before.  They are also constantly checking the price of Bitcoin and its relation to the Australian Dollar.  At the time of writing this article Bitcoins price against the AUD is $12278.59 per single Bitcoin.  In December 2017 it hit roughly $25,000 Aussie Dollars per 1 BTC.

This is the line graph of Bitcoins price to Australian dollar including volume bar graph
Bitcoin Price AUD

Where to purchase Bitcoin for Australian Dollar right now?

If you are just ready to go now, cut to the chase and purchase Bitcoin now, simply go here!

www.easycrypto.com.au

 

 

What influences Bitcoin’s price to AUD?

    1. Adoption
    2. Simplicity
    3. Supply and Demand
    4. Brand Power
    5. Battle Hardened
    6. Attention

 

Adoption:

The more people that use Bitcoin the more it’s price increases.  This includes businesses and investors; both individual and institutional.  It also includes traditional Financial services, for example, ETF’s, etc.

 

Simplicity:

As Bitcoin becomes simpler to use with more streamlined software and hardware options becoming available the price of Bitcoin inevitably rises accordingly.

 

Supply and Demand:

Bitcoin, as we know, has a total supply of 21 million coins.  We also know at the time of writing this article 17,911,125 BTC has been mined already.  That leaves 3,088,875.0 bitcoins left to be mined.  Also, we must take into account the ‘lost’ Bitcoins which is estimated to be around 3 to 4 million coins.  So yes scarcity is definitely a factor when considering price action.  (Source – https://www.buybitcoinworldwide.com/how-many-bitcoins-are-there/)

 

Brand Power:

Bitcoin’s brand power is by far the best of all cryptocurrencies.  This gives it power, prestige, and value.  It is and always will be the first cryptocurrency.  It is also the current reigning champ when it comes to market share.

 

Battle Hardened:

Bitcoin has stood the test of time.  At the time of writing this article, Bitcoin has died (according to the media and the naysayers) approx 375 times.  Needless to say, it keeps pushing on and breaking rules and boundaries along the way giving room for financial growth at every turn.  (Source – https://99bitcoins.com/bitcoin-obituaries/)

 

Attention:

Every time Bitcoin’s price surges so does its media attention.  Conversations at the watercooler at work now become quite often about Bitcoin instead of the normal ‘What have you got for lunch’ type of jazz.  When Bitcoin starts to rise in price and volume, so does its attention, which feeds the beast and really gets the price inflating rapidly, as people scramble for their share of the pie.

Where can go to learn how to purchase Bitcoin with AUD?

Below is a link which will take you step by step through the process of buying Bitcoin with AUD.

https://learn.easycrypto.com.au/buy-bitcoin-in-australia/

Where can I go to sell Bitcoin for AUD?

Follow the link below for step by step instructions on how to sell your Bitcoin and get AUD deposited into your account at optimal rates.

https://learn.easycrypto.com.au/sell-bitcoin-australia/

Where can I go to purchase Ethereum or any other Alt coin with Australian Dollars?

Follow the link below for a step by step guide on how to purchase Ethereum or other Alt coins with your Aussie Dollars.

https://learn.easycrypto.com.au/buy-ethereum-in-australia/

Where can I learn about different Bitcoin wallets used in Australia?

The following link will give you all the information you need to make an informative choice on Australian used Cryptocurrency wallets.

https://learn.easycrypto.com.au/best-bitcoin-wallet-australia/

Who buys Bitcoin in Australia with AUD?

The following link demonstrates you are not alone in your persuit of Bitcoin in Australia.  The link below shows statistics about Aussies buying up Bitcoin in a big way!

https://learn.easycrypto.com.au/who-buys-bitcoin-in-australia/

Bitcoin – Frequently Asked Questions (FAQ)

Q. In a nutshell, what is Bitcoin and blockchain?
A. Bitcoin is a decentralised form of cryptographically secured non-editable digital currency based on a digital trustless blockchain ledger.  It has no borders which means it can be sent digitally globally within minutes.

Q. What is the difference between Bitcoin and other Cryptocurrencies?
A. Simple.  Bitcoin is the first and by far the largest decentralised digital network.  The difference is Bitcoin is easily the most trusted and battle hardened Cryptocurrency with a massive worldwide network of users.  At the time of writing this article Bitcoin has a 66.9% dominance of the market share.

Q. What is AUD/BTC pair
A. AUD/BTC pair is basically the Australian dollar tied to BTC (Bitcoin)’s price.  So at the time of writing this article AUD/BTC pair is $12284.60 to 1 BTC.

Q. Where was Bitcoin developed?
A. See https://easycrypto.guide/bitcoins-early-days/

Q. What year was Bitcoin created?
A. The bitcoin network started mining the first block named ‘the genesis block’ on the 3rd of January 2009 which was block number 0.


Buy NEO Australia

Buy NEO Australia

 

NEO Smart Economy

Stuart Butler | 2019

NEO is an open source community directed blockchain technology.  The aim of NEO is to create a digitalized smart economy via a distributed network.  NEO utilizes smart contracts to automate the creation, recording, execution and management of Digital Assets and Digital Identities.

NEO was created in 2014 then released as open source software on GitHub early 2015.  Following this was the release of its MainNet in 2016 and since this time has been growing in popularity ever since.  Prior to 2017 the project was known as ‘AntShares’ but it went through a major re-branding and the name NEO was born.

What is GAS and how does it work with NEO?

GAS is another cryptocurrency which accumulates and is paid into your NEO wallet (NEON wallet) for example or any other supporting NEO/GAS wallet (see https://neo.org/client).  GAS accumulates and is paid similar to a dividend depending on how much NEO you own and hold in your digital wallet.

The more NEO you have the more GAS you will accumulate.  GAS is used as fuel within the NEO blockchain and GAS is used to facilitate the transactions on the network.  Every NEO block that is generated creates GAS which is then distributed to everyone holding NEO in their digital wallet.

There is more information here https://neotogas.com/ explaining where you can calculate how much NEO you must hold to generate the amount of GAS you want as your passive income.

Create a NEON wallet to store your NEO and collect GAS

Do your own research on wallets but for the sake of this article we are going to use the NEON cryptocurrency wallet https://neonwallet.com/ to facilitate our first hypothetical NEO transaction.

So once we go to the neon wallet link above we can then choose our operating system to download the client software.

 

Download and install the file.  Then hit the Create Wallet button and follow the instructions carefully!

 

 

***NOTE*** Please take extra care with all passphrases and passwords and never share your private keys with ANYONE.  Only your public address should ever be shared!!!

Once you have created your wallet you will see one passphrase/password and three encrypted addresses:

Save these details! If you lose these credentials, you lose access to your assets.

PASSPHRASE/PASSWORD

This is your manually set password to login to NEON with.

PRIVATE KEY

This is your private key which is used to spend your funds.  Should anyone other than yourself access this key, they have full rights to your account and funds and can transfer as they please so beware.

ENCRYPTED KEY

This is your Encrypted key which derives from your Private key and can only be decrypted using your passphrase.

PUBLIC ADDRESS

This is the key you use publicly to recieve deposits into your NEON wallet.  This is the only key that can be shared safely.

How to buy NEO

So now that you have a NEON wallet and you understand the basics of NEO and GAS you have decided to purchase some NEO.  First simply register an account with easycrypto.com.au and get verified, then follow the prompts as shown below.

 

Use the drop down arrow and select NEO, enter the amount of AUD you wish to use for the purchase and click BUY NOW.

 

Add your NEO public wallet address and click Next Step.

 

Select payment method, we will use POLiPAY for this example

 

Review order and when you are happy click the Pay with POLi button, login to your internet banking to pay and you are done!

Popular opinion

 

NEO is a Proof of Stake token which means if you hold your NEO in a specific wallet, for example the official NEON wallet (https://neonwallet.com/) you will earn extra subsidiary tokens called GAS.  GAS is similar to Ether on the Ethereum blockchain, which is used to pay for transaction fees on the network.

NEO is sometimes referred to as China’s Ethereum as it bares many similarities to the juggernaut and second largest market cap blockchain technology project, Ethereum run by Vitalik Buterin.

 

 

Going from an ATL (all time low) of $0.105357 AUD in Oct 21, 2016 to an ATH (all time high) of $286.91 AUD in Jan 15, 2018 NEO has definitely made investors some money along the way and produced what some would call a cult following.  With the current price at the time of writing this article at $12.89 you can see how many people still think there is still money to be made investing in NEO given all the technology we have mentioned within this article.

https://coinmarketcap.com/currencies/neo/

Here are some features NEO encompasses:

 

Digital assets

  • Neo supports a multitude of digital assets within its core infrastructure
  • The ability to create, register, trade and transfer digital assets at one’s own prerogative

Digital Certificate

  • Trust is built within the public blockchain comprising of digital certificates which provide complete legal protection for the totality of NEO’s digital assets

Transaction Mechanism

  • NEO provides the capability of peer to peer trustless transactions of digital assets
  • Cryptocurrencies and digital assets can be harmonized and exchanged without the necessity of using an exchange

Smart Contract

  • NeoVM comprises of unlimited scalability, sharding, finality, large certainty and support concurrent operation smart contracts

Multi-language Development

  • Java, C# and Python are some of the programming languages supported by NeoContract
  • Due to having multiple supported programming languages the NEO platform encourages and assists developers to expeditiously construct smart contracts without having to learn the tedious prerequisites of another programming language

NEO VM

  • NEO’s virtual machine better known as NeoVM nurtures superior start-up times comprising of rapid execution
  • NeoVM is a lightweight stack-based virtual machine
  • Deterministic tree type technology the likes of what you might see in gaming tech trees etc enables NEO to provide endless scalability

dBFT

  • NEO utilizes consensus nodes via the Byzantine Fault Tolerance Algorithm to establish conclusiveness of all transactions
  • Keeping its conclusiveness of transactions at all times on the condition that the Byzantine fault arises on no more than one third of the nodes

Cross-Chain Interoperability Protocol

  • Neo provides cross-chain asset swaps
  • Cross-chain distributed transaction protocols
  • Atomic asset swaps
  • Interchangeable operation of smart contracts on multiple chains with a very high level of consistency

Anti-quantum Crisis

  • Neo provides lattice cryptography which establishes avoidance of quantum crisis by means of signing and encryption utilizing Turing encryption and decryption into the (SVP) or Shortest Vector Problem. Currently no quantum computers can crack this puzzle.

 

NEO – Frequently Asked Questions (FAQ)

Q. In a nutshell, what is the NEO project and blockchain?
A. The NEO project is similar to Ethereum, in that it is used to create digital assets with the ability to create smart contracts, called NeoContracts.

Q. What is the difference between Neo tokens and Neo Gas?
A. Neo tokens are representative of shares within the Neo ecosystem. Neo holders are given the right to to vote and receive dividends in the form of Neo Gas. Gas is used as fees to run NeoContracts on the Neo network.

Q. What is Antshares and how does it relate to Neo?
A. Neo began life as Antshares and rebranded to Neo in 2017.

Q. Where was Neo developed?
A. Neo was developed in China, being the largest blockchain project in the country.

Q. What year was Neo created?
A. Neo was created in 2014 as Antshares.

Q. What is unique about Neo?
A. Neo is working to tie together physical identity with digital identity via the blockchain.


Who Buys Bitcoin in Australia?

How to buy Bitcoin in Australia

Statistics on buying Bitcoin internationally and locally

Stuart Butler | 2019

Where can I buy bitcoin in Australia?

There are many exchanges in Australia where you can purchase Bitcoin.  Some are slow and cumbersome to verify with also some are very complicated.  Easycrypto.com.au is the fastest most user friendly onramp for buying Bitcoin and other cryptocurrencies in Australia.

Who buys Bitcoin in Australia and why?

There is a range of people buying Bitcoin in Australia for a range of reasons but first let’s look at the global statistics:

  • 9% of the total world’s population owns Bitcoin.
  • 18% of 18 to 34 year olds own Bitcoin
  • 12% aged 35 to 44 year olds own Bitcoin
  • 4% for 45 to 54 year olds
  • 4% for 55 to 64 year olds
  • 65+ year olds coming in at a mere 1%

So looking at this data we can see Bitcoin is definitely a younger person’s game but also the more savvy mature audience is still prone to dabbling in and understanding the fantastic benefits to this new technology.

Now let’s take a look at where in Australia people who buy Bitcoin reside

  • 29% are from New South Wales (NSW)
  • 27% reside in Victoria (VIC)
  • 24% live in Queensland (QLD)
  • 8% are in Western Australia (WA)
  • 6% are from South Australia (SA)
  • 3% live in the Australian Capital Territory (ACT)
  • 2% reside in the Northern Territory (NT)
  • And just 1% of Australia’s Bitcoin owners live in Tasmania (TAS)

Interesting isn’t it?  Now delving deeper…

Of all the Australian Bitcoin holders, what percentage of Alt Coins do they own?

  • Ethereum 17%
  • Litecoin 9%
  • Monero 6%
  • Dash 5%
  • Dogecoin 5%
  • Any other of thousands of Alt Coins 8%


Sell Bitcoin Australia

Sell Bitcoin in Australia

 

A quick guide on selling your Bitcoin.

Stuart Butler | 2019

So the time has come to sell some of your precious Bitcoin? This would mean you have your own digital wallet or are using an exchange wallet to hold your Bitcoin.  Either way, you have made the decision to sell back to Australian Dollar (AUD) and you want a fast yet effective means of liquidating your position (Selling). 

Great,  Now you can ask yourself some questions…

 

Why am I selling now?  Do I need the money?  Have I made a profit?  What if Bitcoin keeps going up?

All these questions would be swirling around in your head and they all require answers to help you make the correct decision.  Maybe you want to purchase a new car, or maybe you have to put the money towards a house deposit.  All these things are great reasons to sell.  On the other hand, if you are selling to jump out then back in on a dip I recommend you proceed with caution and think things through thoroughly. 

 

Sure picking a nice peak on the daily or 4 hour chart and selling then getting back in on a trough or dip seems easy on paper, but if it was this easy we would all be well off.  The ebbs and flows of a market are  more predictable for a seasoned trader and even so they are really only as good as their last trade.

 

Your best bet is to remain disciplined and focused on what you are trying to achieve.  Before purchasing Bitcoin, and definitely before selling it, set yourself clear and precise price targets in Australian Dollars. Back them up with reasons so that you are more likely to pull the trigger, and sell when the price hits these targets.  So you might say to yourself: ‘I entered the market purchasing one Bitcoin at $10,000 USD.  My target for selling is $15,000 USD.  This will help me achieve my overarching goal of a house deposit (becoming more expensive in Australia), or sell $5,000 which is half my initial investment back lowering my risk exposure.’

Then once the trigger price reaches $15,000 you sell and execute your plan with discipline and a precise vision.

 

If Bitcoin starts to take off again and exceeds $15,000 and you get FOMO (Fear of Missing out); have a plan to re-enter and a price you are happy to pay.  Keep half your initial investment of $5,000 and go back in with $10,000.  If however it drops, you could also look to re-enter for a much cheaper price which is excellent news.  Remember the words of Warren Buffet which is also applicable to the Cryptocurrency market.  “The Stockmarket is a device for transferring money from the impatient to the patient“. 

These are just examples of ways to trade with discipline and things to consider before selling your Bitcoin.  After all Bitcoin is only going to become more rare as time goes on.

Things you will require before selling Bitcoin in Australia:

  1. An account with a reputable Australian crypto exchange for example Easy Crypto
  2. The Australian bank account details (in your name) of the account you want to sell into.
  3. You will require your photo Identification if you have not signed up or been verified with a selling exchange. This usually entails a selfie while holding a hand written note and your ID card for most exchanges.  Here is an example of what may be required:

  1. On creating an account you will in most cases be required to provide your Bank details so when you go to sell you will see the following:

  1. You will then need to acknowledge your order by clicking confirm or something similar as shown below:

  1. Once you have confirmed the amount it will then generally provide you with a Bitcoin or other cryptocurrency deposit address and a QR Scan code. Simply deposit the desired amount of Bitcoin to the given address and follow the status of the order on your account page or via emails.

 

It is a fairly simple process to sell and can be done almost as quick as buying crypto.  I have simply used Easy Crypto as an example to provide you with some screenshots, as you will more than likely come across similar pages among other reputable Australian exchanges. 

So effectively the exchange waits to see the deposit enter into the exchange wallet and then automatically creates a bank transfer directly to your provided Australian bank account.  From that point on you will more than likely receive a receipt from your chosen exchange via email.  Expect deposit times to vary depending on your bank etc but from here on out the transfer speed is like any other transfer from bank to bank.  If you are with the same bank expect it pretty much instantaneous and if not expect it deposited within 1-2 business days.

Selling Bitcoin and Cryptocurrency in Australia is becoming far more efficient, user friendly and timely.  The aim of the industry as a whole is to make buying and selling Bitcoin streamlined and instantaneous coupled with high level security and absolute confidence.  We can see a future where with the click of a button you can buy and sell Bitcoin and other cryptocurrencies person to person instantly regardless of age, technical abilities, distance and borders.

Sell Bitcoin Australia – FAQ’s

Q. How much Bitcoin can I sell in Australia?

A. There is no limit to the amount you can sell.  Easy Crypto allows a maximum of $10,000 AUD to be sold daily and this is similar across most exchanges.

Q. What are the tax implications when I sell Bitcoin in Australia?

A. When buying and selling any Cryptocurrency in Australia you must understand your tax obligations with the Australian Tax Office.  In general, every AUD to Crypto, Crypto to AUD and Crypto to Crypto trade is a tax ‘event’.  Contact a crypto friendly accountant (such as Darcy Financial) to discuss your personal situation before selling.

Q. How long does it take to receive my AUD after I sell Bitcoin in Australia?

A. It is all dependent on Australian bank processing times.  This can range from almost instant (in the case of NPP type payments) through to 3 business days.  The exchange will keep you in the loop via email.

Q. Can I cash out to my partners Australian account?

A. Contact Easy Crypto via email to discuss this.

Q. Why is the sell price higher than the buy price?

A. Selling Bitcoin in Australia (and across the world) always follows the same principle, that is there is a buying and selling market.  Buyers will set a buying price and sellers a selling price.  To buy, your buying price must match the sellers price.  The difference between these two prices is called ‘the spread’.  So in order to sell instantly, you must lower your sell price down to the buy price to match up with a buyer.  Once this occurs your order immediately processes.  This is all done by the exchange automatically and you don’t have to worry about it.


Advantages of Easy Crypto vs Coinspot

Advantages of Easy Crypto vs Coinspot



• Easy Crypto allows you to create your wallet instantly through our system which emails you all the information required for YOU to own all your private keys and crypto on YOUR computer or device

• Easy Crypto has the quickest verification of all exchanges including Coinspot with 24-hour customer service.

• Here at Easy Crypto, we utilize an instant messaging chat system with staff online 24/7 to talk you through any issues from verification to purchasing Cryptocurrency whereas Coinspot does not.

• Most orders through Easy Crypto are completed in under 2 minutes via PoliPay which is an Australia Post payment system

• Easy Crypto has another awesome feature that Coinspot does not. This is the Easy Crypto Portfolio Tracker. Let me explain this in a little bit more detail as it is a fantastic addition to your cryptocurrency purchases.

 

Easy Crypto Portfolio Tracker

Track your profits.....
We've taken the hard work out of watching your nest egg grow.
Every trade you make with us is automatically added onto your own Portfolio Tracker, so you can stay current with every movement the market makes.
If you have trades from other brokers that's no problem - you can manually add any of the top 1000 coins tracked by CoinMarketCap.
Now back to the list…..

• Easy Crypto allows you to create an account, verify, make a purchase and then provide ANY wallet address you like, which we will deposit directly into. Coinspot does not.

• Coinspot provides you with an ‘Exchange’ wallet. Or a wallet that both you and Coinspot control. But if, for example, Coinspot got hacked or went down, your investments are at high risk of going with them.

• If Easy Crypto ever got breached or hacked your valuable Bitcoin would be safe in your wallet so the risk is negated.

• Easy Crypto prides its self on providing Bitcoin, Cryptocurrency and Blockchain technology guides, tutorials and educational information to help lift the customer's knowledge within the field staying true to the values of decentralization and freedom of information.

 


Bitcoin Growth

Bitcoin Growth

2008 was the year of Bitcoins inception in which the early pioneers like the unknown person or persons named Satoshi Nakamoto started implementing the new technology.  Initially Bitcoin didn't take off, but once people started to see it's many use cases and potential it started becoming a force within a few years. Bitcoin, over the years since has had many highs and lows. Like any new emerging speculative market there has been some major setbacks but Bitcoins recovery and battle scarred endurance was there for all to see. In late 2017 when Bitcoin really started to make a rocket like move past all old all-time highs we seen google trend searches also skyrocket and Bitcoin became a real household name.

 


At its peak, Bitcoins market cap grew to a staggering $320 Billion dollars and that is only Bitcoin not including the whole cryptocurrency market. $320 Billion is an absolute motza; Let's compare that to the global stock market. The market cap of the global stock market was an incredible $70 Trillion Dollars. If we break that down mathematically Bitcoins market cap was a mere 0.005% of the global stock market's market cap. 


The potential for growth given the ever increasing adoption of Bitcoin and cryptocurrencies in relation to the total global market cap is what drives many long term investors to throw their hard earned cash into Bitcoin.  Even if we see 0.020% of the entire global market cap funnel into Bitcoin it will make Bitcoins market cap balloon to a staggering $1.28 Trillion dollars with an estimated single unit Bitcoin price of $80,000 USD.  This could easily be dwarfed however with some experts looking at a price closer to $1 million per Bitcoin in years to come.


Fastest way to buy Bitcoin in Australia and start holding it!


Fastest way to buy Bitcoin and start holding it!

 

I often get people asking me how can I get involved in cryptocurrencies or what is the fastest way I can buy Bitcoin for under $100. 

Now, it takes time to explain each facet to them from downloading a wallet to purchasing with Australian Dollar or AUD for short.  This guide I hope will help someone from start to finish to purchase and hold Bitcoin all in the one day for just $100 AUD.  I will try to keep it short, sharp and simple.  All recommendations within this guide of wallets or exchanges to use are simply examples.  Do your own research to find out what best suits you but this is the combination I use to buy AND sell crypto in Australia.

 

The first thing you will require is somewhere for the Bitcoin to go once you do purchase it.  Getting a digital wallet setup is the first step as without a Bitcoin address you have nowhere to put your Bitcoin.  I use a wallet called Exodus.  You can get Exodus from www.exodus.io and you can have a desktop version or a mobile version.  For the sake of this guide let's choose the desktop version.  So click 'download now' and select the desktop wallet.  Click the backup section and you will see you can setup a password and you can also click show 12-word recovery phrase.  So create a hard to crack password and DON'T forget it.  Write it down physically (not on your PC.) and then do the same with your 12-word recovery phrase.  Keep these safe as if your computer blows up for example or you lose your mobile (mobile version only) you can recover your lost Bitcoins using the 12-word recovery phrase.  But should they end up in the wrong hands and all your funds are in jeopardy with a real chance of never seeing your Bitcoin again.

**note** with some versions of exodus you can only generate your passwords/phrases once you have deposited some Bitcoin into them.

So your wallet is ready to go.  Leave it open and let's move to the next step.  The exchange.  For this step we are going to buy Bitcoin from easycrypto.com.au as they are smart, simple and safe to use also very competitive and customer friendly.

So for our first order we are going to go to easycrypto.com.au and hit enter.  There we can see a green 'BUY NOW" button on the right hand side with two input options.  AUD and BTC or Australian Dollar and Bitcoin.  For our first order we are going to select the Australian dollar section and type 100 as we want to spend $100 AUD.  Underneath you will notice the Bitcoin number change.  At the time of writing this article $100 AUD gets us 0.00617017 Bitcoin.  Then click 'BUY NOW' it will then prompt you to sign in or create a new account.  We will go ahead and create a new account.  Once clicked it asks us if we want to use a google, facebook or email address account to create our new account. 

I will use email for this guide. 

  1. Enter your email and click next 
  2. Enter your first and last name then create a password and click save.
  3. Enter your birthday and phone number then hit next.
  4. It then asks you if you hold an Australian Drivers Licence.  We are going to assume the majority of people do and click next.
  5. Enter the purpose of your purchase.  We will select the top option 'Holding as an investment'
  6. Enter 'Source of funds'  We will put Salary/Wages and click next
  7. Now we get to the verification section where the exchange follows regulatory rules set in place to stop the likes of money laundering and terrorism financing.  So we must write a custom note which states "I am verifying with www.easycrypto.com.au. No one has asked me to make this account. August 20th 2019" 
  8. Once the note is written grab your Australian Drivers Licence or similar photographic government ID.
  9. Take a selfie holding the note and the ID so all three can be seen clearly.  The note, your face and the identification.
  10. Upload this picture to your PC then in turn upload it via the 'Select file' button in purple.  Once uploaded click next.
  11. This step is where they verify your identification, this step will take the longest as it requires a staff member to check your verification manually.  Click go to verification.
  12. Provide the following details for the automated check.  First name, middle name, surname, address and date of birth then click submit.
  13. It will then ask you to verify your identity using 2-4 different ID sources.  We will use Drivers licence and Australian Passport.
  14. It will say something like 'Your Queensland driver's licence was verified, pending the review of an administrator.'

Once this step is done it will redirect you back to easycrypto.com.au and once you get your verification accepted you will receive an email stating this.  Then you can go and enter the $100 and click 'BUY NOW' then it will show you 'Your Order'.  This is where you provide your digital wallet address to deposit into.  So let's step these out numerically as well for ease of use:

  1. Click back into your 'Exodus wallet' we created but didn't close earlier.
  2. Select the 'Portfolio' tab on the left hand side.
  3. Then the top of the 'ASSET NAME' list at the bottom of the screen shows Bitcoin.
  4. Click on Bitcoin and it will show you your balance which will be 0 BTC and under that $0.00AUD.
  5. Under that you will see Send and Receive buttons.  Click Receive as obviously this wallet is going to be receiving the $100 of Bitcoin from Easy Crypto.
  6. Now we have a few options here we can use the QR scan code but let's keep it basic and just copy the long address.  This is your public Bitcoin DEPOSIT address.  Used ONLY for depositing BITCOIN into this particular wallet.
  7. Once you have copied the Bitcoin address go back to easycrypto.com.au tab.
  8. Paste your Bitcoin wallet address where it says 'Enter your Bitcoin address' and click 'Next Step'
  9. Then you are asked to select payment method.  You can do a direct bank transfer which will take time due to the company needing to see the funds entering their account before releasing the Bitcoin to the nominated address.  Or you can use the popular Australia Post payment option POLIPAY which is instant and automated.  For this guide we will use POLIPAY.
  10. Click Continue with POLI.  You will then see a review of your order including your order number for reference.
  11. Click Pay with POLI.  You will see a POLIpayments pop up.
  12. This is where you select your bank.  Once selected it takes you to your banks internet login screen.
  13. Enter your normal internet banking login details and hit login.
  14. You will see your accounts.  Pick the account you want to use to purchase the Bitcoin.
  15. Success! your Bitcoin will be transferred to your chosen wallet within roughly 40mins - 1 hour.

The Bitcoin is automatically released from easycrypto's digital wallet to your chosen Bitcoin wallet address by way of blockchain technology.  Your transaction sits on the blockchain until it receives 3 confirmations (approx) which takes roughly 30 mins.  You did it!

You will hear a little money sound when your Bitcoin goes into your Exodus wallet and you will see your balance change from 0BTC to 0.00617017BTC (less fees) and $100AUD (less fees).

Congratulations you are now the owner of your first and very own Bitcoins!

If you have any questions regarding this guide or can't proceed/understand any of the above steps do not hesitate to email us at [email protected]


What does a Bitcoin look like?

What does a Bitcoin look like?

Image result for what does a bitcoin look like

 

Are there actual Bitcoin coins? as in... are there physical Bitcoins I can buy and hold in my hand?

The short answer is No.  Yes, there are coins that represent Bitcoins and in the past, these coins have had a real tangible amount of bitcoin encrypted onto them which I will explain as we delve deeper.  So when people ask me what a Bitcoin looks like, I explain to them that it looks like multiple things all of which look nothing like a coin at all. 

Bitcoin looks like:

  1. Bitcoin looks like the lines and lines of code it uses to operate
  2. Bitcoin looks like encryption
  3. Bitcoin looks like cryptography
  4. Bitcoin looks like automated functioning parameters
  5. Bitcoin looks like maths and equations being transformed at a rapid pace and much more

 


Image result for matrix

 

 

Bitcoin to me is like electricity.  It is there but you can't see it.  It is fluid and can be digitally transferred from wallet address to wallet address.  It can be calculated and proven to exist but it cannot be physically touched or seen.  Now at the start, I mentioned some coins can be stamped as Bitcoins and represent what people think of as a physical Bitcoin. 

Although these exist they are simply coins with an encrypted Bitcoin address stamped onto them.  The actual Bitcoin has been transferred to that address to give it the value stamped on it.  This is purely for show as it's the Bitcoin address stamped onto the coin that holds the Bitcoin value, not the Bitcoin itself.  There are some coins with no addresses on them and are simply for show, so beware!  You can hold Bitcoin in a paper wallet, desktop wallet, mobile wallet, hardware wallet or exchange wallet.  All of which have their pros and cons.

In summary, Bitcoin is a virtual currency, not a physical coin.  It is stored in a bitcoin address which is embedded into a digital wallet.  This wallet has a public key for receiving transactions and a private key for sending Bitcoin to other wallets.

 


Bitcoin to AUD

Can I convert Bitcoin to AUD?

Bitcoin to AUD live pricing

If you are looking at the price of bitcoin to AUD then you have come to the right place.  

 

There are many exchanges that allow you to deposit or trade Bitcoin (BTC) for the Australian Dollar (AUD).  Some examples are Easy Crypto Australia, Coinspot and Local Bitcoins Australia, amongst many others. These exchanges allow you to directly exchange Bitcoin to AUD or AUD to Bitcoin.  Here at Easy Crypto Australia, we believe we are the fastest and safest way to convert bitcoin to AUD or vise-versa.  If you want to convert AUD to Bitcoin this guide may suit you better.

 

A quick overview of what this article will cover:

 

  1. How do I convert Bitcoin to AUD?
  2. How long will it take to receive my AUD after the Bitcoin to AUD conversion?
  3. Is there a limit on how much Bitcoin I can convert to AUD?
  4. Is it legal to convert Bitcoin to AUD?

 

1. So how do I convert Bitcoin to AUD?

 

If you are reading this you are in one of two camps.  You are either a. already holding Bitcoin or b. you are looking to buy Bitcoin with AUD but want to see how you can then cash out at a later date.  The good news is, selling Bitcoin for Australian dollars is just as easy as exchanging BTC for AUD in the first place! Most exchanges that have an Australian Dollar on-ramp (a way to buy crypto with AUD) allow you to sell back to them.  At Easy Crypto we are no exception. To convert Bitcoin to AUD you begin by heading to the Easy Crypto main page here.

 

First, choose the sell tab and input the amount of Bitcoin to convert to AUD.  

 

bitcoin to aud step1

 

Next, double-check that your Australian bank deposit address details are correct. If they are correct, click o the ‘Get BTC deposit address button’.

 

bitcoin to aud step 2

 

An order number will be created for you and the deposit information will be displayed. As is always the case with crypto, triple check the deposit address as our system is completely automated, so a deposit with the wrong amount may be irretrievably lost!  Make sure you send exactly the amount that you want to deposit or the system may not process it correctly. Tick the box to confirm this and the Bitcoin public address where you must send your Bitcoin to will appear.

 

 

You can now copy this address and send from your chosen wallet where you currently store your Bitcoin.  Make sure you take into account the Bitcoin sending fee from your wallet or exchange into account when sending to us (your wallet or exchange will give you the total after fees which you will need to adjust to match what you are required to send to us).   Once received our system will process the order and you will have finished converting Bitcoin to Australian Dollars for the first time.

 

2. How long will it take to receive my AUD after the Bitcoin to AUD conversion?

 

As long as you have sent the exact amount as per quote, our automated system will wait for the transaction to appear in our wallet and begin processing the BTC to AUD sale.  The Australian Dollars will be sent to your nominated bank account and this is subject to the normal bank transfer times. We usually say to allow 3 business days for delivery of the AUD.  So if it is a weekend the transfer may take up to 5 business days inclusive.  

 

bitcoin aud speed

3. Is there a limit on how much Bitcoin I can convert to AUD?

 

There is a $10,000 AUD to BTC individual limit when converting from Bitcoin to Australian Dollars in a single transaction.  However, you may convert up to $25,000 Australian Dollars from Bitcoin in multiple transactions (cumulative) on a normal Easy Crypto Account.  Don’t forget to take into account the tax implications of such a sale. In particular Australian Capital Gains Tax laws.

 

4. Is it legal to convert Bitcoin to AUD?

 

Since 2018 Digital Currency Exchanges have been regulated under the Australian Federal Government’s AUSTRAC regulator.  This regulator covers banks, financial institutions such as brokers and other services such as financial advisors. Bitcoin to AUD transfers are completely legal with a compliant exchange such as Easy Crypto.  If you are ever in doubt about whether an exchange is registered with AUSTRAC, ask for their Digital Currency Exchange registration number.

 

austrac bitcoin to aud

BTC to AUD Frequently Asked Questions (FAQ)

Q. Do I have to consider Tax when converting BTC to AUD?

A. Yes.  The Australian Tax Office (ATO) consider all crypto transactions to be a taxable event.  This includes Bitcoin to AUD transactions, AUD to Bitcoin and crypto to crypto trades.

Q. What is the current Bitcoin to Australian Dollar price?

A. Check out our rates page for up to the second Bitcoin to AUD pricing here.

Q. Once I am happy with the AUD payout sell price and want to have it sent to my account, how do I proceed? 

A.  See our guide on Selling Bitcoin in Australia here.


What is Bitcoin?

Image result for bitcoin 650 pixels

 

What is Bitcoin?

 

Bitcoin is the culmination of years of debate, trial, error and problem solving. It is a digital ecosystem that can transmit monetary value across the border-less, worldwide Bitcoin network.

 

A single unit of Bitcoin is referred to as a ‘Satoshi’ (after the founder of Bitcoin's surname) and the network is accessible from almost any device imaginable.

Bitcoin is used for multiple purposes. It is seen as a store of value, a transactional currency and a virtual ‘gold’.  It even has the ability to create ‘smart contracts’ (not to the extent of Ethereum however which is another 'crypto').  In addition, Bitcoin is an open source software which can be scrutinized and developed on by anyone in the world.

Traditional currency uses a mix of virtual and physical value.  A centralised ‘bank’ controls the supply and distribution of money.  Bitcoin does it differently.  There is no one person that has central control over Bitcoin, it is decentralised.  To change anything to do with Bitcoin there must be consensus between the majority of users.  This is very hard to achieve, which in turns gives the digital currency very high stability and safety.

Bitcoin transactions are stored on a blockchain which is a digital ledger of everyones accounts and transactions from the beginning of Bitcoin (the genesis block).  Your Bitcoins are protected by high level encryption and digital signatures, which are theoretically impossible to crack.  Bitcoin can be traded on the open market using, exchanges such as Easy Crypto.

New Bitcoins are created through a process known as ‘mining’.  Miners use specialised hardware (CPU’s, GPU's and ASIC’s) to do two things. First they create new Bitcoin by attempting to be the first to solve a randomly generated mathematical problem.  Secondly whilst doing this they are facilitating the confirmation of transactions between people on the Bitcoin network.  This process of verification is called ‘Proof of Work’ or POW.  It is in all miners best interests to honestly complete this task, as any variance to exactly what the network expects will block that miners transactions and make their participation null and void.  In completing this task the miners are helping secure the Bitcoin network, facilitate transactions and earn Bitcoin for their work.

Image result for bitcoin 650 pixels mobile

So Bitcoin is peer to peer with no middle man.  It is 'trustless' in the fact that no transaction can be altered or reversed so trust in the transactional process or the buyer/seller is not required.  Bitcoin is borderless which means it can be bought and sold worldwide with the same transaction cost as sending it locally and much cheaper than a traditional international bank transfer.  Anyone with a basic smart phone and internet data can transact and begin to share value or services in return for bitcoin which makes the next point extremely important.  It can bank the unbanked and.........

Lastly Bitcoin is a revolution.