How do I buy Ethereum with AUD?
Jack How To Buy Ethereum In Australia
If you're looking to buy Ethereum, follow these simple steps:
- Register for an account with an Australian crypto platform such as Swyftx
- Complete the signup registration process and verify your email
- Deposit funds in Australian Dollars into the account
- Select Ethereum (ETH) from the asset list and click on 'Buy Ethereum'
- Enter the amount of Ethereum to buy using AUD balance
- Review and complete the trade
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Best Way to Buy Ethereum
There are several ways for investors to buy Ethereum and each method will comprise of different risks and fees that must be considered before making any transaction. Our preferred method to obtain Ethereum is to use a regulated and trusted exchange that offers ETH and accepts a local payment method such as bank transfers. Here are a few pros and cons of buying Ethereum using an Australian exchange.
Pros:
- Australian exchanges must comply with AML/CTF reporting obligations which are enforced by AUSTRAC
- Buy/sell Ethereum directly from the exchange using Aussie dollars
- Supports local methods to deposit AUD such as POLi, PayID, and BPAY
- Local support service that is easier to get in touch with
Cons:
- Will need to submit identification documents to prove identity before making a purchase
- Australian exchanges can have lower liquidity compared to overseas exchanges meaning spreads can be higher
- Innovative products and services offered on global crypto exchanges are not available on Australian exchanges
Where To Get Ethereum In Australia
The best way to purchase Ethereum is to use a digital currency exchange. These platforms are highly regulated and allow users to deposit funds in AUD that can be converted into Ethereum. Using an exchange to buy Ethereum will require ID verification to comply with Australian laws.