How to Buy Ethereum in Australia | Invest in ETH

Summary: One of the most convenient ways to buy Ethereum (ETH) and participate in the expanding ETH ecosystem is through a regulated brokerage platform like Plus500 which offers crypto CFDs and a chance to speculate on price movements.

What is Ethereum?

Ethereum is a decentralized blockchain platform that enables smart contracts and decentralized applications (DApps) to be built and run without any third-party interference. Its native cryptocurrency is called Ether (ETH), and it’s used for various purposes within the Ethereum network.

How to buy Ethereum in Australia: Step-by-step

If you’re looking to buy ETH in Australia, you can follow our step-by-step guide below and become a crypto trader in no time.

Step 1: Create a brokerage account

To buy ETH in Australia, you’ll need a brokerage account. A brokerage account is like your gateway to the world of cryptocurrencies. Here are the steps to create one:

• Choose a reputable broker: Research and select a reputable cryptocurrency exchange or brokerage platform;

• Sign up: Register on the chosen platform’s website. You’ll need to provide your personal information, including your name, email address, and phone number;

• Verify your identity: Most exchanges will require you to complete a Know Your Customer (KYC) verification process. This involves providing proof of identity, such as a driver’s license or passport, to comply with Australian regulations;

• Secure your account: Set up strong security measures, including two-factor authentication (2FA), to protect your account from unauthorized access.

Where to buy Ethereum in Australia?

When choosing a platform to buy ETH, you can consider Plus500, which is a popular trading platform that offers Contract for Difference (CFD) trading on various cryptocurrencies, including ETH.

Furthermore, the platform has a user-friendly interface, has a license from the Australian Securities and Investment Commission (ASIC), as well as a handful of useful features:

• Variety of cryptocurrency CFDs;
• Fast and reliable order execution;
• No commissions and tight spreads;
• Advanced analytical tools and chart patterns;
• Leverage of up to 1:30;
• Real-time quotes;
• Convenient deposit options via PayPal, Visa, Mastercard, etc.
• Fast and secure withdrawals.

Step 2: Decide on the amount and buy Ethereum

Once your account is set up and verified, you can start buying ETH:

• Deposit funds: Deposit Australian Dollars (AUD) into your brokerage account using the available payment methods, such as bank transfers or credit/debit cards;

• Search for ETH: Use the platform’s search bar to find ETH.

• Select your amount: Decide how much ETH you want to buy and enter the quantity. The platform will show you the estimated cost;

• Place your order: Choose between a market order (buy at the current market price) or a limit order (buy at a specific price). Confirm your order.

Step 3: Review the fees and confirm your order

Before finalizing your purchase, it’s crucial to understand and review the fees associated with the transaction:

• Trading fees: Check the trading fees, which are usually a small percentage of your transaction amount;

• Withdrawal fees: Be aware of any withdrawal fees if you plan to move your ETH to a private wallet.

Once you’re satisfied with the fees, confirm your order. The platform will process your request, and you’ll soon own ETH.

Trading tips

Trading ETH and other cryptocurrencies is not a straightforward task; it’s a complex endeavor with numerous challenges and risks. Therefore, it’s crucial to conduct thorough market research and understand critical aspects before getting started.

To maximize profitability, you should extensively research before investing in any speculative asset. We also advise that you follow the golden rule: “Plan your trade and trade your plan.” Furthermore, it’s wise to manage associated risks through portfolio diversification.

We also recommend gaining familiarity with the following aspects of crypto trading:

• Crypto day trading;
• Swing trading;
• Common chart patterns in trading;
• Various trading techniques.

Ethereum price today

Pros and cons of buying Ethereum

How to buy Ethereum in Australia safely

When buying ETH, or any other cryptocurrency for that matter, it’s key to keep in mind common mistakes investors make. Here are some of them:

• FOMO: Avoid buying impulsively based on hype and the fear of missing out;

• Neglecting security: Always prioritize the security of your investments and use strong passwords and 2FA;

• Overtrading: Don’t excessively trade; it can lead to losses due to fees and price fluctuations.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Ethereum in Australia

Is Ethereum legal in Australia?

Yes, Ethereum (ETH) is legal in Australia, and it is regulated by the Australian Securities and Investments Commission (ASIC).

What is the minimum amount of Ethereum I can buy?

The minimum amount of ETH you can buy depends on the exchange or brokerage platform you use. It’s usually a small fraction of one ETH.

Can I sell Ethereum back to AUD?

Yes, you can sell ETH on most exchange platforms and convert it back to Australian Dollars.

Do I need a wallet to store Ethereum?

While it’s not mandatory, it’s best to store your ETH in a secure private wallet for additional security.