This year is the lucky year for those who invested in Cryptocurrency. Covid_19's uncertainty and financial crises helped cryptocurrencies to rise higher. I will guide newbies in here who are willing to buy cryptocurrencies in Australia. Please follow below steps and start buying cryptocurrencies.
Open an account with cryptocurrency exchange.
Coin Spot is a reputed cryptocurrency exchange in Australia. So first you need to open an account with Coin Spot, once your account is approved then transfer funds from your bank to Coin Spot account. Then buy cryptocurrencies you would like to invest. Click here to join Coin Spot and get your account approved.
If you are not sure which cryptocurrency to invest? then read this article. How to Start Investing in Cryptocurrencies and Which Cryptocurrencies to buy?
2. Store Your Cryptocurrencies.
If you are willing to do short term trading then you can keep your coins in exchange account, however I would strongly suggest you to store your coins in your own wallet. Never store large amount of coins in crypto exchange account. There are many different ways to store your cryptocurrencies securely. Read tips below.
Paper wallet is an offline wallet which is one of the safest way to store your cryptocurrencies. Paper wallet is not online or not on internet so no one can hack or steal your coins. First download walletgerator.html. click here to download or download it from GitHub by clicking here then click on the Green Button "Code" then click on Download ZIP
Please do not use online website walletgenerator.net for security reasons.
Once you download then extract folder by "extract all" then open extracted folder then click "index.html" , once the file is open then keep moving your mouse until the screen changes, then select your currency by clicking on the option "chose currency", then click on "paper wallet" option then do not type anything and just click "print" and print the wallet. Make sure you print at least 5 to 6 copies of paper wallet. On paper wallet you will see "Private" under private there will be a barcode and under barcode there will be a private key which you should not reveal to any one and you will also see "Public" which is your cryptocurrency address where you will receive your coins. If you want multiple paper wallets with different addresses then you will have to follow the whole process again every time you want to generate a new address.
Once you print it then just transfer your funds or coins to your address, make sure its accurate you can use barcode or address which is located under "public", do not transfer large amount to your address at first attempt, first transfer very small amount such as $10 worth of coins, check the balance on Blockchain Explorer it may take some time balance to appear under your address, once you see your balance on Blockchain Explorer and the address is correct then transfer remaining coins to your address. Always double check address before transferring fund. After that fold your paper wallet and store it in secure place where you can always remember and no one can find it. Always store your private keys in safe place, if you lose your private key then you will lose your fund forever.
2. Blockchain wallet mobile app.
Download Blockchain wallet app from app store or from google store, then register your account and make sure you save or print 12 words seeds, which will require if you want to recover your funds in case if you lose your phone or password etc, then generate receiving address in app, then transfer small amount first to your mobile wallet address, once you receive it make sure you save or print private key of that address somewhere offline, in case if you lose your 12 words seeds then you can still recover your funds by using your private key.
If helped please send tips to my addresses below:
Bitcoin Address: 1LNSgREBKPeKiSV2k992Xy7PLwRqFAcA1n
Bitcoin Cash: qpky9e8lms0n9ajs48jzelg00gyn0ykpgqe22s8lph
Please leave questions or comments below.