The first and one of the largest cryptocurrencies in the world, Bitcoin is an inevitable name in crypto. Ever since its launch in 2009, Bitcoin is a widely used digital currency, that mostly works as real-world dollars and other currencies. With its reputation and trust, Bitcoin has always been the talk of the town. Not only in the United States, Bitcoin has had its fame all over the world. Things were not different in Australia as well. With people getting more and more attracted to the crypto world, people, especially beginners show more interest in investing in Bitcoin. However, for beginners, finding a reliable site or platform to purchase this token might be tiring.
As some of you might know, being a popular cryptocurrency, Bitcoin is listed on several exchanges, both centralized and decentralized. While experienced investors have an idea about reliable exchanges, beginners might get trapped in the false claims and offers of certain exchanges. With numerous exchanges available, it might be a tedious task for beginners to select a trustworthy platform. However, let’s get rid of this problem today. In this article, we will discuss some of the trustworthy and reliable exchanges through which you can buy Bitcoin in Australia. So, let’s discuss in detail.
1. Binance
Binance is one of the leading cryptocurrency exchanges in the world. Founded in 2017, this platform allows altcoin trading in more than 350 cryptocurrencies and virtual tokens. Among these many cryptocurrencies, Bitcoin is one of the first and famous tokens traded on this platform. Although known as an exchange mostly used by seasoned traders, the interface of this exchange has changed and become more user-friendly for beginners.
Binance offers a crypto wallet for its users to store their tokens and digital funds. Along with online crypto trading, this platform offers support services that help users earn interest or transact using cryptocurrencies. Although most popular in the United States and the United Kingdom, Binance can also be used by people residing in Australia.
The functioning of Binance is similar to that of other crypto exchanges. Users can engage in trading, listing, fundraising, de-listing, and withdrawing cryptocurrencies after completing the required Know Your Customer (KYC) information. The major reason behind the popularity of this crypto exchange is the safety and security it offers. With over 7 years in this field, Binance offers a safe platform to trade and invest in cryptocurrencies. This platform also has a two-factor authentication process that helps secure the users’ accounts.
2. Coinbase
Coinbase is a popular and widely used cryptocurrency exchange platform. Users can buy, sell, trade, transfer, and store their cryptocurrencies using the Coinbase platform. Although headquartered in San Francisco, California, this exchange is popular and used extensively in various countries including Australia. Coinbase was launched in 2012. Ever since then, this exchange has been widely known for its user-friendly interface that allows easy buying and selling of cryptocurrencies. So, Coinbase is used mostly by beginners in the crypto environment.
Coinbase also offers a wide variety of services for its users. Some of them include a digital wallet to store and manage crypto assets, a trading platform to buy and sell assets, and a suite of developer tools that allow users to build decentralized applications. Along with the normal version, Coinbase also has a Pro version that offers more advanced features, curated for seasoned traders.
Safety and security are the other major features of Coinbase. This cryptocurrency exchange has been licensed as a Money Service Business and has been registered as a Money Transmitter by FinCEN. Moreover, being one of the most trusted crypto exchanges, Coinbase became the first exchange to go public on the Nasdaq stock exchange on 14 April 2021.
3. Kraken
Legally named Payward Inc. and popularly known as Kraken, is a 2011-founded cryptocurrency exchange. The native of this exchange is San Francisco, United States. Popular in various other countries, Kraken allows users to trade cryptocurrencies bought or sold with fiat currencies. Other than Bitcoin some of the popular cryptocurrencies available on this platform include Ether (ETH), EOS (EOS), Solana (SOL), and non-fungible tokens.
Kraken is considered a one-stop solution for all crypto-related services such as spot trading, futures trading, margin trading, over-the-counter trading, staking, perpetual, and more. So, Kraken is a good option for crypto beginners as they can perform various activities under one roof. Moreover, the interface of Kraken is also clutter-free, making it ideal for beginners. This platform allows the trading of about 381 cryptocurrencies. According to the official website, trading on Kraken is an easy task. Users can trade, buy, or sell their cryptocurrencies by creating a free account on the Kraken platform. After creating an account, users have to connect their funding method to the account. Once these steps are completed, users can easily buy and sell the diverse cryptocurrencies listed on the exchange.
4. Bybit
Founded in 2018 by Ben Zhou, Bybit is another popular cryptocurrency exchange that trades various cryptocurrencies. Based in Dubai, this exchange is widely used by people from various countries. Along with spot, derivatives, futures, and options trading, the Bybit platform offers other services like products that grow assets, access to Web3 services, and cards that give up to 10% cashback for users.
The security features of Bybit are also worth mentioning. It offers a two-factor authentication and a cold storage for user funds. Along with these security features, the other features that increase the reputation of the Bybit platform are its fast transaction speed and high liquidity.
5. KuCoin
KuCoin is yet another popular cryptocurrency exchange platform widely used in various countries. Founded in 2017, KuCoin’s mission is to “facilitate the global free flow of digital value”. Over the years, KuCoin has gained immense user trust, with over 37 million users worldwide. Like other cryptocurrency exchanges, KuCoin allows users to buy, sell, and trade digital assets. Moreover, it offers a range of other features like spot trading, margin trading, futures trading, and investment options.
KuCoin claims to have a high-security system with two-factor authentication. Leveraging cutting-edge technologies, this platform ensures that it offers useful and efficient services to its users.
Conclusion
In conclusion choosing an ideal cryptocurrency exchange to buy Bitcoin in Australia, especially for beginners is crucial. With numerous centralized and decentralized exchanges, identifying the best can be tiring at times. However, as mentioned, this is an important task as it influences the smooth functioning, transactions, and other trading activities. As you have seen in this article, various cryptocurrency exchanges like Binance, Kraken, KuCoin, Coinbase, Bybit, and more offer significant services and security. With cutting-edge technology, a smooth interface, and high-security features, they help beginners establish themselves in the crypto landscape. So, with attention to detail and vast research, you can choose the crypto exchange that meets your needs and requirements. However, remember not to fall for fake offers and unauthentic exchanges.