Understanding BTC
What is Bitcoin?
Bitcoin operates on blockchain technology, a distributed ledger that records all transactions. Its decentralised nature means that it's not controlled by any government or central authority. Instead, a global network of nodes validates and secures transactions, making it highly resistant to censorship and fraud.
Bitcoin's limited supply of 21 million coins has driven its value and made it a sought-after digital asset for both investment and as a medium of exchange. It has also paved the way for thousands of other cryptocurrencies, collectively known as altcoins.
Bitcoin's creation, fueled by the 2008 financial crisis, aimed to provide an alternative financial system outside traditional banking. It has since evolved into a global phenomenon, gaining recognition from major financial institutions and governments.
As you venture into the world of cryptocurrency, it's essential to understand the technology and principles behind Bitcoin. While it's price can be highly volatile, Bitcoin's underlying blockchain technology has far reaching potential beyond just digital currency. It has applications in supply chain management, voting systems, and much more.
In Australia
How to buy Bitcoin in Australia
- 1
Create your Wayex account
Sign up in minutes on iOS, Android or the web.
- 2
Verify your identity
Australian residents aged 18 and over verify once, in-app.
- 3
Deposit AUD with PayID or NPP
Fund your account instantly, with no deposit fee.
- 4
Buy Bitcoin (BTC)
Buy BTC at live AUD market prices, then hold it or spend it with the Wayex Card.
Bitcoin FAQs
- Can I buy Bitcoin in Australia?
- Yes. You can buy Bitcoin (BTC) in Australian dollars with the Wayex app. Wayex is an Australian, AUSTRAC-registered platform that has operated since 2018.
- How do I pay for Bitcoin?
- Fund your Wayex account in AUD with PayID or NPP, both free, then buy BTC instantly. There is no surcharge on AUD deposits.
- What fees does Wayex charge to buy Bitcoin?
- Wayex charges 1% on any crypto buy, sell or spend. AUD deposits and withdrawals via PayID or NPP are free, and there is no annual account fee.
- Can I spend Bitcoin with the Wayex Card?
- Yes. Once you hold BTC in the Wayex app you can spend from your balance with the Wayex Crypto Visa Card anywhere Visa is accepted, online or in store.
Explore more
Other coins on Wayex.
Get started
Access a World of Crypto.You’re Closer Than You Think!
- 01
Download the app
Available on iOS and Android. Sign up in minutes with your email.
- 02
Get verified, instantly.
Fast KYC with your Australian ID. Most accounts verify in minutes.
Learn how - 03
Buy, Sell and Spend!
Trade AUD into 90+ crypto assets, and spend anywhere Visa is accepted.