Cryptocurrencies are becoming more popular than ever, and many Australians are interested in getting in on the action. However, if you’re new to the world of crypto, it can be intimidating knowing where and how to start. This article will break down the different options for purchasing crypto in Australia, from local exchanges to international ones like Binance.Source :theinvestorscentre.com

The most common way to purchase crypto is through a crypto exchange. These platforms allow you to buy digital currencies using fiat (like the Australian dollar) and then store them in your account on the platform. Exchanges will require you to prove your identity before letting you trade, as per Know Your Customer protocols to avoid money laundering and other criminal activities. They also have to comply with Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regulations set out by AUSTRAC.

A Complete Guide to Buying Crypto in Australia: From Start to Finish

Purchasing cryptocurrency through an exchange is typically the most convenient and secure option, especially for Australians. However, some people prefer to purchase their crypto directly from other individuals through peer-to-peer trading. In fact, this is one of the cheapest ways to buy cryptocurrency in Australia.

To do so, simply visit the website of the coin you wish to purchase and navigate to its exchange page. You will usually see a button labeled “Buy X amount of Y crypto”. Fill out the required fields with the quantity you wish to purchase and follow the prompts. You can then store your newly purchased coins on the exchange’s built-in wallet or transfer them to your own cold storage.