Buying bitcoin in Australia
Hello friends. I’m getting a lot of people asking me about buying bitcoin lately. But many of you are time poor and a bit worried about doing something wrong and losing money. I made this tutorial to help you get some Bitcoin and Ethereum for yourself.
Outline
- Part 1. Register on an exchange
- Part 2. Buying Bitcoin and Ethereum (Coming soon)
- Part 3. Hosting your own wallets (coming soon)
Part 1. Registering on an exchange
Required:
- At least 30 minutes
- An Id Document (Passport, Drivers Licence)
- A utility bill with your name and address
0. Overview
To buy bitcoin you can either
- buy from someone you know,
- buy from someone on https://localbitcoins.com/,
- find a bitcoin ATM,
- use an exchange.
This covers buying bitcoin from one exchange called, “the independent reserve”. There are quite a few other exchanges but this one has a good rate, is big and also sells ethereum.
Positives:
- Good rate for bitcoin.
- A large established business.
- You can buy Ethereum in the same place
- You don’t have to download bitcoin software right away
Negatives:
- You need to upload a photo of you holding your ID and a utility bill
- This is inconvenient
- Turnbul’s goons will find out that you have bitcoin
- There’s a small possibility that your identity will be stolen
Go to https://www.independentreserve.com?invite=KUXBHN and register an account.
Use referal code KUXBHN to give a friend of mine a small commission.
If you’re not taking jobs from random people on thegumtree, ignore this.
set AccountType and Account Purpose, Click on “provide your identity details” and enter them
Enter you email address
You will receive an email with your confirmation code, copy it into www.intependentreserve.com
This is optional but I recommend it as it will increase security
Google Authenticator is more secure than SMS but is also optional
Now it’s time to hand over your DOX
Fill in all information and upload the two documents requested
A bill with your name and address
A photo of you holding a Government ID (Licence or passport)
Done! (for now)
It will take a day or two for them to check your ID and then you’ll be able to buy bitcoin.
