I’m wondering what people are using to buy/sell now? Does coinbase allow selling in Australia yet?
All google articles seem to be very old and I assume spam/scams have invaded their comment threads to use dodgy brokers.
Anyway, what is everyone using?
Thanks everyone!
yeh they broke me j/k
Their fees are much higher than industry standards, but it is an easy way to buy in or cash out. Typically you would buy something on btcmarkets and send to another exchange if you wish to trade/buy other coins/tokens. If you want to control the assets get a nano ledges S (directly) and send it to you own hardware wallet.
which crypto? old or a new ICO??
please do you have a tip on good coin?
sorry, have already lost a lot in different failed coins/mining ventures/exchanges/companies (but not this one). just want a few tips to re-coup money.
@wordplay: Tron TRX and Cardano ADA are definitely two big coins worthy of attention. As well as XRP. Those will most likely be the best winners of 2019-20
@MattwasHere: thanks, just trying to get some funds together to invest. how long do you think they will take to double in price.
I think crypto is a downward trend from here … I got shafted bad at the peak lol
If you wanna get into crypto you can just give me the money instead. Similar result and I’ll be your friend too.
Hi tripix,
I've never actually bought crypto before (I was pretty much being a provocative idiot when I said I was buying up the GPUs in deals and mining in the past), but I have followed this space very closely.
I personally wouldn't recommend crypto for a large portion of your investment portfolio, but if you want to get into it, this is the best, up to date, Australian book on the topic. It covers security, tax law, buying/selling, etc.
https://static1.squarespace.com/static/5a136f5f4c0dbf49b9c08…
If you want to invest in crypto, I strongly recommend you read this free book (all of it), and follow the advice, particularly regarding security and accounting (tax records).
Good advice @idonotknowwhy
I started of with CoinSpot, I did open Btcmarkets and Binance accounts but never got around to using them then CoinSpot dropped its fees.
CoinSpot is very easy and user friendly to get into.
CoinSpot also has the added bonus of having an AUD wallet, so you're able to buy and sell AUD at a moment's notice, this also makes it easy to test the crypto waters.
CoinSpot fees.
Some nice quick reviews on Finder:
CoinSpot
Btcmarkets
Binance
An explanation on how prices work, I definitely recommend giving this a read.
One more thing Bitcoin is used like gold.
When the traditional markets are shaky, geopolitical spats and trade wars will cause the price of gold to rise and so will Bitcoin.
Due to the US government shutdown crypto has risen.
Chinese New year is on the 5th of February, some will be selling off some of their crypto for the Chinese New year, this will cause prices to fall as mining crypto is big in China due to cheap electricity.
Crypto is kinda like gambling (imo the odds are better though) and just like gambling never invest more than you are willing to lose, and never ever borrow to buy crypto.
Also don't be greedy, when you get a nice profit sell or at least sell to get back your initial investment, don't make the mistake that I did….
One last piece of advice don't get into pump and dump groups, you will lose.
Above all do your own research and don't take anyone's advice, especially some stranger on the internet!
Good advice @ Wystri Warrick
I wouldnt touch it, my brother lost so many money on it its not funny.
Sounds like your brother was a uninformed fomo investor.
Thanks for all the information guys!
So does anybody know how good this Huobi is?
Cryptopia
Coinspot if you're just getting started. BTCMarkets, Independent Reserve and CoinJar are okay. Last time I used Coinbase I tried to move some Etherium to an exchange and they held the transaction for 48 hours or something ridiculous.
Coinbase exchange
Currently the biggest and most popular cryptocurrency exchange platform, available in 32 countries. It allows trading Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. To over 20 million users it offers a friendly interface, few levels of protection and both desktop and mobile (Google Play and App Store) versions.
Registration
You have options to create a private or a business account. In case of second, the service will offer to redirect you to the subsidiary products – GDAX, a trading platform for investors, and Coinbase Commerce API, for accepting cryptocurrencies as payments for goods and services.
Payments and fees
Coinbase supports three payment methods: banking account, debit/credit card and wire transfer (PayPal). Depending on a country, available options can vary, the same as the conversion fees and exchange rate. Take into account, that in countries like Australia, Canada, Singapore, both variable and fixed fee are used.
Buy/sell cryptocurrency
As mentioned earlier, Coinbase has an easy-to-use interface, so, learning how to buy and sell cryptocurrency won’t take a lot of time. Currently, the service supports following digital currencies: Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Coinbase provides rates statistics by each coin (hourly, daily, weekly, yearly, all time), so the consumers can easily plan their actions based on given information. Mobile app version gives the opportunity to set alerts – to stay notified about price fluctuations.
I used to use bittrex for trading and coinbase to purchase btc.
https://www.independentreserve.com/ - Independent Reserve is one of the oldest crypto exchanges in Australia. They do AUD, NZD and USD trading pairs.
Try this website: https://cryptonews.com.au
They've got guides on basically everything and anything to do with buying and selling coins in Australia.
Looks pretty outdated and they haven't listed any Australian exchanges at all, especially the ones accredited by ADCA.
Check out Independent Reserve, they have an integrated tax tool for Australian users built by KPMG too. https://www.finder.com.au/independent-reserve-has-a-new-kpmg…
Independent reserve!
I still think Cryptocurrency is crap.
It's supposed to be useful and cheap. I don't think it's either.
I reckon it's mining is a terrible design, and the whole thing could have worked if you had a centralised model in which people could do all sorts of transactions globally, but the real money was exchanged nationally when matches could be made to exchange your pseudo funds over internation banking, fx, etc.
Everyone would save $$ this way, many transactions could be instant, and the system could be protected by current regulated methods, be transparent, and perhaps replace current banking practices and limited benefits.
At BTC $18000 I warned the pippets here to beware, what goes up… But they couldn't believe it. So here again some advice.
Cryptocurrency still is useless after 10 years, so accept the piossibility that within a few years it may approach fair value at around $350. I personally think it's worth absolutely nothing (to me anyway), and it will be seen as a failed scheme in decades to come.
Please don't argue or bitch for the sake of it.
https://www.btcmarkets.net/ is a decent Australian broker.