Crypto: How To Get Started In Australia 2024 For Beginners
Create An Account Today With Two Of Australia’s Biggest Cryptocurrency Platforms
Welcome to Crypto for Beginners
You are here because your’e intrigued to know what everyone is talking about. You don’t understand it, but you know it’s gaining popularity and you want to know more! These are EARLY TIMES and the great news for you friend, is that you haven’t picked a better time to begin your journey.
The blockchain financial world of technology is going to blow your mind once you grasp the concept, art and language of investing.
There are TONS of information out there about Bitcoin and Cryptocurrencies, and maybe too much for your eyes and ears to bear.
Creating a cryptocurrency account is simple and… the first step. There-after you will need to research research research and educate yourself if you wish to seek rewarding opportunities for you to invest into for less than a cup of coffee.
You will gain ‘Confidence’ ‘Independence’ and ‘Experience’ in buying, selling and swapping cryptocurrencies while adapting your financial investment portfolio and trading strategies.
In other words — you will become an ‘Investor/Trader’ from your smartphone or your desktop.
Before we start, there is one thing you need to remember…ONLY INVEST AS MUCH AS YOU ARE WILLING TO LOSE! ⬅ ️Ingrain this in your brain!!!
Investing and trading in Cryptocurrency comes with high risks due to the volatility of the market. Don’t let that scare you!…I will educate you during your discovery phase. So, don’t invest money until you learn more. I will cover this in a later article! Remember, today you are only opening an account at no cost.
Know The Difference Between A Broker And An Exchange
There are two trusted platforms in Australia that you can open an account with online today. This will get you started until you gain confidence before branching out internationally and alternatively between brokers & other exchanges.
Every transaction is called a buy/sell order. You can buy & sell on the spot from a broker like Coinspot (hence their name) and your order is an immediate execution where as, from an Exchange like Swyftx (lower fees than a broker) buy/sell orders are more complex, especially if you are not familiar with trading stocks or the forex market. Your order will need to be filled according to the moving market.
There are a variety of ways to buy & sell cryptocurrencies and the reason why I’ve suggested two platforms.
- Swyftx — The Most Trusted Australian Crypto Exchange
- Coinspot — Buy, Sell & Swap Crypto and many more digital assets
You will need to verify your details for KYC (Know Your Customer) verification purposes.
(Products and affiliate links may earn money from this post.)
How To Get Started With Crypto In Australia 2024…
Create an account with Coinspot:
- Go to Coinspot > Create an account
- You will need to meet legal age requirements +18 “Sorry kids!”
- You will need an email address to create a password (Use a combination of upper & lower case letters, numbers & symbols — Also, use different passwords for each platform, write it down, do not save it to any of your devices)
- You can verify your account with your drivers license to make a deposit or skip this process
This next step is Optional. However, I suggest you set up your Security. Hackers are on the loose and you want to protect your money by setting up protection walls between You and Them!
To do this follow these next steps:
How To Setup Your 2FA (Two Factor Authentication) Security with Coinspot
- Inside your dashboard at the top in the yellow box you will need to setup your Security (you don’t want to miss this step)
- Click Enable 2FA (Two Factor Authentication) and Enable Authentication
- Go to your phone apps > search and add the RED ‘Twilio Authy’ app. Click here to see logo.
- You will need your mobile phone number to receive verification and an email
- Once enabled log out and back in again to ensure 2FA is working
- For more info see Authy’s articles here
Authy may not look like much — but trust me this will help you more than you know so let’s move further to set-up your security.
- In the Authy App click the red +(plus) sign > Add Account
- You will need two devices to ‘Scan QR Code’ from your smart phone camera Authy App to Coinspot desktop where you will see a bar code.
- In Authy App scan your QR Code with your smart phone
- You will see Coinspot added to your Authy App with a 30 second count down timer. Every-time you log into Coinspot, you will need those SIX digits (called token) to enter Coinspot after login.
- Click here for more help.
Create an Account with Swyftx
- Go to Swyftx > create an account
- Add the Swyftx App to your smart phone
- Create an account - you will need to enter your details and verify them with your drivers license, passport or other form of Government ID.
Note: Deciding whether you are an individual, trust, company etc can be decided later. The purpose of this article is to set up your account and safely.
How To Create A 2FA (Two Factor Authentication) Security With Swyftx
- Navigate to the profile Tab > About > Security and click the setup 2FA button
- Once pressed you will be prompted to confirm set-up
- You will be logged out and a page will appear with a QR Code
- Log back into your Authy App and repeat as you did with Coinspot > click the red +(plus) sign > Add Account
- You will need two devices to ‘Scan QR Code’ from your smart phone camera Authy App to Swyftx desktop where you were given a bar code.
- In Authy App scan your QR Code with your smart phone
- You will see Swyftx added to your Authy App with a 30 second count down timer. Every-time you log into Swyftx, you will need those SIX number digits (called token) to enter Swyftx after login.
You are done!
Read here for more information on enabling your 2FA.
To learn about keeping your crypto safe — Click here
Thank you for reading my guide, if you have a topic you would like me to cover, place it in the comments below.
**** Disclaimer: The information provided by Natmo Crypto is provided in good faith for educational and general information purposes only. Any action you take is not financial advice and strictly at your own risk . The opinions expressed in this blog are solely those of the writer and not of this platform.
