How to buy Bitcoin Gold in Australia
A Beginner’s Guide to Buying Bitcoin Gold Cryptocurrency in Australia
If you’re based in Australia and wish to buy Bitcoin Gold – the process is very simple. All you need to do is find a regulated online exchange that offers competitive fees, deposit some funds and decide how much you wish to buy.
Before investing in the crypto market, you must conduct satisfactory due diligence to gain knowledge and skills for effective investment decisions. Bitcoin Gold stands among the rising star cryptocurrencies in the market, representing a token popular for its achievements in devolved finance.
What’s in this guide?
This guide equips prospective and existing cryptocurrency traders in their efforts to invest in Bitcoin Gold, enlightening them concerning all the important information to aid them in selling, buying, or storing their Bitcoin Gold tokens.
Therefore, with this guide, you have a complete manual, even for beginners, to help you through the whole process. However, you must schedule a consultation with a trusted financial advisor upon any uncertainty so that you know your venture. Noteworthy is that cryptocurrencies are a very risky field, and losing is one of the potential outcomes.
- QUICK GUIDE: HOW TO BUY BITCOIN GOLD IN AUSTRALIA
- Where to buy Bitcoin Gold in Australia
- A step-by-step guide to buying Bitcoin Gold in Australia
- How to sell Bitcoin Gold
- Which wallets can I sue to hold Bitcoin Gold?
- How Bitcoin Gold Works
- Key things to consider before buying Bitcoin Gold in Australia
QUICK GUIDE: HOW TO BUY BITCOIN GOLD IN AUSTRALIA
- Open an account with a cryptocurrency exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select Bitcoin Gold
- Enter how many Bitcoin Gold BTG tokens you want to buy
- Check the details and confirm your purchase
Where to buy Bitcoin Gold in Australia
Whenever you intend to buy Bitcoin Gold from any part of Australia, look for a crypto exchange platform online. Multiple cryptocurrency exchanges do exist in Australia, but the best ones to use include
If you want to buy Bitcoin Gold in Australia, the only place to do it is from a crypto exchange. There are several crypto exchanges in the country, and you research the ones that support Bitcoin Gold.
A step-by-step guide to buying Bitcoin Gold in Australia
Use either one of the two step-by-step guides when you are ready to buy Bitcoin Gold:
Buying Bitcoin Gold using other cryptocurrencies
The first way of buying Bitcoin Gold tokens is through other cryptocurrencies. The process involves buying another cryptocurrency and, after that exchanging it for Bitcoin Gold. However, you should know that this option is not accessible to every exchange platform.
Buying Bitcoin Gold using fiat currencies
The other way for you to buy Bitcoin Gold is by using fiat currency, which involves using AUD. Before making the registration with an exchange platform, be sure that it accommodates AUD.
Follow the following steps to start buying Bitcoin Gold:-
Step 1: Register with an exchange
The first step in buying Bitcoin Gold is registering with an exchange platform. Australia features multiple cryptocurrency exchange companies, all open to serving their customers based on their needs and preferences. Look for a company that supports Bitcoin Gold and AUD currency. There are certain details that you will be required to provide to facilitate account opening. Some of these details include your name, contact number, and email address, among others. Since compliance measures regulate the exchanges, verification of certain details is necessary. Verification involves producing certain documents like national ID and proof of address, among others.
A strong password and multi-factor authentication are crucial to ensuring that the account cannot be accessed by anyone else but you.
Step 2: Funding the account
Funding the account is the second step and enables you to buy the Bitcoin Gold tokens. In funding the account, you are required to link your personal bank account to the exchange either directly or via your ATM card.
Step 3: Buying Bitcoin Gold
Buying the actual Bitcoin Gold is the third step. Having funded the account with your preferred form of payment (AUD or selected crypto), take the next step to trade them for Bitcoin Gold tokens. Should you prefer to use cryptocurrencies, click to select the matching pays against Bitcoin Gold listed as ETH/BCG or BTC/BCG.
However, if you wish to use AUS in buying the Bitcoin Gold tokens, then simply go for the pair that reads AUD/BCG. Next, confirm your transaction and check your email for the confirmatory notification.
How to Sell Bitcoin Gold
Having successfully bought Bitcoin Gold tokens, it is also allowed to sell them upon need or simple preference. Follow the following steps to sell them:-
First, sign in to the exchange account and then look for the select section of the exchange. Here, choose the amount you intend to sell and receive the number of funds worth the BCG you have traded. On the off chance that the exchange is not supportive of a direct BCG to AUD exchange, you also can first exchange them to other cryptocurrencies and later exchange the latter to AUD and finally withdraw your funds for the exchange account.
Which wallets can I use to hold Bitcoin Gold?
Cryptocurrency tokens can only be held in two forms of crypto wallets; online wallet and cold wallet. The former stores the tokens online and can also be termed hot wallets. Online wallets can be operated at all times.
As regards cold wallet, you are allowed to hold the Bitcoin Gold tokens for prolonged durations before selling. The cold wallets will keep your tokens safe and stored offline using devices such as a USB drive.
How Bitcoin Gold works
Like other cryptocurrencies you may or may not have worked with before, Bitcoin Gold uses a blockchain mode of operation. This provides it a decentralized attribute that makes it possible to buy and sell the crypto even without an intermediary. Decentralization simplifies financial transactions as they easy, cheap and fast.
Key things to consider before buying Bitcoin Gold in Australia
Among the elements for consideration in case you are planning to buy Bitcoin Gold in Australia include the following:
The availability of Bitcoin Gold tokens is a primary consideration. Ensure that the selected tokens are high in supply and are circulating because it means their buying and selling are actually swift.
The ideal and most promising tokens are the ones that have multiple uses and are not limited to trading along. Find out whether Bitcoin Gold can support other DeFi projects to raise its value in the future.
The volatility of the Bitcoin Gold tokens is also a critical consideration because crypto prices often fluctuate. You should invest in Bitcoin Gold with full knowledge of what might happen.
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Virtual currencies are highly volatile. Your capital is at risk.
Where can I buy Bitcoin Gold in Australia?
You are always advised to buy Bitcoin Gold from a cryptocurrency exchange
Are Bitcoin Gold tokens volatile?
Similar to the other cryptocurrencies, Bitcoin Gold tokens are extremely volatile as their prices keep changing.
Can I buy Bitcoin Gold with a credit card?
Indeed, a credit card is one of the options provided by exchanges (not all) and will help you fund your account.