Once you decided to open an account on a verified virtual exchange, the next thing to do is to buy cryptocurrencies so you can start trading. The most prudent way to invest is always in the local currency, so if you are living in Australia, you should buy Ethereum with AUD.
According to recent data research by Bitcoin.com.au, the profile of the average cryptocurrency user is a white male under the age of 34 living on the eastern seaboard. Also, Australians seem to prefer Ethereum because of the potential they see in the developing Blockchain technology.Sign up for Blockbid trading platform and be the first to be notified when new currencies go live.SIGN UP
1 Ethereum to AUD – Market price and cap
As of the writing of this article, the market price of 1 Ethereum is 843 AUD. The market capitalisation is 83,608,319,541 AUD, and the 24h trading volume is 2,149,287,926 AUD.
The reasons you should use a local exchange and a local currency when you buy any cryptocurrency comes down to legal protection and fees. If you buy Ethereum with AUD, you will not have to pay additional conversion fees and lose money in the process.
Another important issue is the legal framework of the country. Since the beginning of April 2018, Australia has issued a law that obliges all virtual cryptocurrency platforms to comply with AML/CTF guidelines.
How to buy Ethereum in Australia
If you are wondering how to buy Ethereum in Australia, it’s relatively simple once you open an account on an exchange. Ethereum like other cryptocurrencies is traded on the market, so if you want to find the safest way to buy Ether in Australia, you should do it on a virtual platform. Once you gain access to the exchange, you can place an order.
After the payment, the exchange will facilitate that order, and you will see your cryptocurrencies in the electronic wallet provided by the exchange. Once the Ethereum is in your “possession,” you can transfer it to a virtual wallet. In the next section, we will provide you with a list of the best Ethereum wallets on the market.
Ethereum wallets in Australia
The most popular Ethereum wallets in Australia include:
- Mist (recommended by the Ethereum community)
- Ledger NanoS
Ledger NanoS and Trezor are hardware wallets that would keep your coins safe — you just have to be very careful not to misplace them. MyEtherWallet and Mist are designed explicitly for the Ethereum experience.
Exodus is software, desktop wallet with a beautiful, elegant interface, and it’s recommended for beginners. Jaxx is also a very user-friendly wallet with a simple interface, plus it’s cloud-based, which adds a layer of security and it has a mobile app too for additional convenience of the user.
As we said at the beginning of this article, you should always buy crypto with the local currency, so if you are living in Australia, you should buy Ethereum with AUD.