Where to Buy Bitcoin in Australia

The use of cryptocurrency has grown rapidly in Australia over the past few years, and today there are a wide range of options available for Australian traders and investors to be able to quickly and easily purchase Bitcoin.

Purchases of the world's #1 cryptocurrency have themselves increased significantly recently as well, with the size of the Australian cryptocurrency trading market ballooning in the recent past.

However, while there are a number of options available for Australians in 2020, there has been a significant variation of the quality of different platforms, and hidden advantages to using one platform over another.

We’re looking into the question of the best places to buy Bitcoin in Australia in 2020, based on the quality of services that are provided, and unique advantages that some platforms provide as well.

Bitcoin Purchases are on the Rise in Australia

Bitcoin has never been more popular in Australia, with it progressively moving from being something that only a small number of Australians had even heard of, to today not only being commonly known amongst a majority of Australians, but with much of the population actually owning some Bitcoin as well.

The increase in the number of purchases of Bitcoin within Australia has been largely as a result of the explosion of exposure that’s been seen since 2017’s dramatic bull run, which saw the price of Bitcoin reach a new all-time high of over $27,000.

This is a trend which has been mirrored in all countries across the world, as globally the size of the cryptocurrency market has dramatically increased, and the popularity of owning, trading, and spending Bitcoin and other cryptocurrencies has seen a huge rise recently.

What is safe to predict is that in the future that this trend will, if anything, see an increase of the size of the Australian cryptocurrency market and also the demand for Bitcoin purchases as well, with more Australians every year becoming involved in the cryptocurrency market for the first time.

Growing Number of Options for Traders

As the number of Australian cryptocurrency traders and investors has increased, there has also been an increased opportunity for new trading platforms to launch in the Australian market, and for them to be able to satisfy some of the demand of the growing number of Australian traders.

Where originally they were only a very limited number of options available for Australian traders if they wanted to access global cryptocurrency markets, today there are not only a number of locally-based platforms, but also a wide range of international platforms as well that provide services to Australian traders.

As with any situation where competition increases, this is only good news for traders and investors, being that the increase in competition recently has meant that in order to be able to secure market share, platforms have to provide better services, unique opportunities for generating profit, and all-around better value for users.

While a lot of platforms have entered the Australian market recently, one platform which has performed better and secured more of the Australian market share than any other platform has been margin trading giant, PrimeXBT.

PrimeXBT: The Lowest Fees on the Market

PrimeXBT is the world's leading multi-asset margin trading platform, and manages up to $2 billion worth of global trade every day, with a significant percentage of that coming from the Australian market.

One of the predominant reasons for the success of PrimeXBT has been that it provides the lowest fees of any major cryptocurrency trading platform on the market, either locally or internationally, with a flat rate of 0.05% being up to 10 times cheaper than other options in the market for Australian traders.

For any trader or investor, paying significantly lower trading fees has a huge impact on the profitability of their interactions with the cryptocurrency market, and therefore it is no surprise that the strategy from PrimeXBT has simultaneously provided more value to traders, while seeing the growth of the platform outpace any other major trading platform over the past few years.

PrimeXBT also provides other advantages for traders such as having industry-leading leverage of up to 100X across a range of cryptocurrencies that include BTC, ETH, XRP, LTC, and EOS, as well as providing up to 500X on a range of traditional assets such as stock indices including the S&P500 and FTSE100, forex pairs including EUR/USD and AUD/CAD, and commodities that include gold and oil.

Kraken: A Security-Focused Platform

Kraken is a platform that has built its reputation for being secure for more than 5 years of operation in the cryptocurrency market, whilst a number of other major trading platforms have been hacked during the same period of time, with some of these occurring as recently as this year and last year.

The founders of Kraken come from a security-analyst background and so it is unsurprising that the platform has a perfect track record throughout its years of operation.

In fact, the two founders of Kraken were called in to do an assessment of the security at infamous crypto exchange, Mt. Gox, when it imploded following a $460 million hack in 2014.

Kraken is a part of only a small group of platforms, which also includes PrimeXBT, that have never been hacked throughout their years of operation, and that provide traders with a safe and reliable environment for trading.

In Summary

The Australian market has been heating up for a number of years, as more Australians have become involved with cryptocurrency trading and investing, and the total size of all investments in the market has increased significantly over the past few years.

Purchasing Bitcoin in Australia has never been easier, with a wide range of different options available, however many of these options have either been expensive or insecure, and this is the reason that PrimeXBT and Kraken have become mainstays in the Australian cryptocurrency market.

While other platforms charge anywhere up to 10 times as much in order to purchase Bitcoin, PrimeXBT provides the lowest fees of any major trading platform in the market, and while other platforms have lost their users’ funds to hacks over the years, Kraken has remained hack free and secure.

To learn more about PrimeXBT and Kraken, the services and features of both platforms, and the advantages that Australians are enjoying from using them, check out PrimeXBT and Kraken.