Have your wallet and cash, just need Bitcoin?
One of the benefits of cryptocurrency is that you can do business in most exchanges around the world.
Keep in mind that most of the popular exchanges require copies of your ID/Password to create an account. Something to keep in mind if you are privacy focused. There is always the threat of the Exchange being compromised and your information/ID being stolen.
Binance > Is one of the most popular.
However, today we will focus on Independent Reserve it is the first exchange I used and have been happy with their support and account security…thus far.
To get started … click ‘Get started’
You will then pick your username and password (make it unique from your other accounts). You can use my referral code if you wish.
Referral Code: <here>
Next is setting up your identity. Keep in mind even if you try signing up as a business or company, they still want to know one of the owners of said company. They have covered all of their bases.
I am hoping one day they will add more options for 2FA but at the moment there is only Google Auth and phone number.
*Note > If you active Google Auth and delete it later on or if you change mobile numbers and are no longer able to receive your 2FA code – It can be difficult to get back into your account because of the strong security steps. They make you jump through hoops…which is a good thing I guess.
Now that you have an account all that is left to do is transfer $AUD into your cash wallet in the exchange. This is done with BSB/Account transfer and using the Ref code supplied.
Once the money has cleared you can transfer the case to Bitcoin and then transfer your Bitcoin out of the Exchange and into your Wallet of choice. I don’t recommend leaving large amounts of AUD or Crypto in your Exchange accounts in the Exchange is attacked and/or your get locked out of your account.
Don’t want to give up your ID?
If you don’t trust Bitcoin exchanges with your ID but still want to buy Bitcoin. You can follow the guide below;