What is a Cryptocurrency Exchange? for beginners

What is a Cryptocurrency Exchange? for beginners

This is a simple beginners guide for people who haven't yet bought Bitcoin and are interested in learning how and where you might buy it.

Cryptocurrency exchange facts

  • A Cryptocurrency Exchange is a website which you can buy and sell Bitcoin and other cryptocurrencies.
  • They are also called "crypto exchanges" for short.
  • Most Australian crypto exchanges allow you to deposit AUD into your online exchange account, however some Worldwide based exchanges don't support that and only let you deposit Bitcoin into your account.
  • Most crypto exchanges hold your Bitcoin for you in your account, so if your holding a lot of Bitcoin there you may want to learn where to store your Bitcoins in safe place.
  • Most crypto exchanges need to verify your identity in order for you to start using your account, so the exchange can abide by regulation KYC rules.
  • Until recently, most crypto exchanges only supported personal account registrations. But now some crypto exchanges are supporting the registration of company accounts. If your unsure which one then it's probably a personal account you need.

Cryptocurrency exchanges in Australia

We have reviewed what we think are The Best Crypto Exchanges for Australia.