Essentially, the best places to buy bitcoin are through a broker or an exchange (which we’ll get to in a moment). Exchanges in particular, however, are somewhat vulnerable to hacking. For that reason alone, you should get yourself a cryptocurrency wallet before doing anything else. Think of a cryptocurrency wallet as a bank account for your bitcoin, i.e. a place outside the exchange that isn’t as susceptible to theft.

Okay, so you have a place to store bitcoin, but that doesn’t necessarily answer the question of how to buy bitcoin in Australia. For that, you again have options. The simplest is to find a bitcoin or cryptocurrency broker. To use one is to buy bitcoin directly and efficiently, as in you pay the broker a certain amount of money and he or she sends you a certain amount of bitcoin. Naturally, like a stock broker, a cryptocurrency broker will come at a slightly higher cost in the form of fees and other related expenses, but at least you’re in the hands of someone who knows what he or she is doing (hopefully). And remember, to receive your bitcoin you’ll need a wallet address.

You should now have a better idea of how to buy bitcoin in Australia. Of course, different people approach their finances in different ways, so there are a few additional things to consider. For instance, you should look into what the accepted payment methods are for any given broker or exchange. Nearly all accept POLi, but maybe you’d prefer to buy bitcoin using a credit card, cash or PayPal instead. The choice is yours, providing you can find an exchange or broker who abides.