How To Buy Your First Bitcoin
Step 1. Set up a wallet
Before you can purchase Bitcoin, ensure that you have set up a wallet in order to store, receive and send bitcoin. Here are some bitcoin wallets to get you started.
Step 2. Purchase bitcoin
It is now time to join the cryptocurrency world and purchase your first Bitcoin. Here are the different ways you can pay when purchasing from Bitcoin Australia:
- Online Bank Transfer – POLi (Recommended): A secure payment system to purchase bitcoin online.
- Cash: Visit a participating bank branch and we’ll convert your cash into bitcoin.
- Newsagent: Buy bitcoin over the counter using cash, at over 1,200 participating newsagents in Australia.
- Flexipin: Purchase a Flexipin voucher from a participating retailer and redeem the voucher online for bitcoin.
Once you have selected your preferred payment method, you will be prompted to enter an email address, wallet address, mobile number and the amount of bitcoin you would like to purchase. For your first purchase, you will also need to complete a once-off verification as a measure of security.
Step 3. Keep your bitcoin secure
Now that you’ve purchased bitcoin, it is important to keep it safe and secure just as you would with a bank account. Here are some basic principles to follow:
- Create backups of your private keys. To protect robbery, fire, or hard drive failure, we recommend to keep a backup of your private keys kept off-site.
- Never give your private keys to anyone. Giving another person your private keys is the same as giving them access to your bank account.
- Mobile and Desktop Wallets: Keep your offline and online wallets up to date with the latest software. This will ensure they are as secure as possible. Here is a demonstration video showing how to buy bitcoin:
Buy Bitcoin online
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