Everything about Ethereum and how to buy it in Australia

How to buy ethereum in australia: According to a survey published by Finder, Australia is more optimistic about cryptocurrencies than most other countries worldwide. The poll, which is based on the site’s Cryptocurrency Adoption Index, measures the global growth of cryptocurrency through a regular survey of over 41,600 people in 22 countries.

According to a study, Australia had the third-highest rate of cryptocurrency ownership, ahead of Indonesia (16.7 per cent) and Hong Kong (15.8 per cent). However, as of April 2022, the global rank of Australia has gone down to the sixth position.  Nevertheless, they have been actively investing in cryptocurrencies and have been keen to buy Ethereum in Australia.

Moreover, the survey discovered that bitcoin is the most popular cryptocurrency in Australia nowadays, with 65.2 per cent of those who possess crypto owning the world’s largest cryptocurrency, the fifth-highest percentage of all 22 nations examined. Meanwhile, Ethereum is the second-most popular coin in the country, with 42.1 per cent of individuals who possess cryptocurrency, and Cardano takes up the third position with 26.4 per cent.

If you wish to know about Ethereum and how to buy Ethereum in Australia, here is the information.

 

What is Ethereum (ETH)?

Ethereum is the world’s first programmable blockchain, a platform that allows one to transmit bitcoin to anyone and powers open-source applications. It is a platform for financial services, games, and apps, not just payments.

Ether (ETH) is a digital, worldwide currency used in Ethereum apps. ETH is a currency that can be used digitally. Many individuals get the phrases Ethereum and Ether mixed up (ETH). Ethereum is the blockchain, and Ether is the Ethereum coin or the primary asset. So when people say they want to buy Ethereum, they mean that they want to buy Ether, which is Ethereum money.

Where to get Ethereum?

 

Ethereum has a general use. Because it is the second most valuable cryptocurrency by market capitalization, after Bitcoin, it can be found on practically every cryptocurrency exchange platform. Therefore, ETH is a very popular cryptocurrency.

However, one must ensure that one purchases Ether from a reputable source to avoid being cheated. Selecting one of the best Australian cryptocurrency exchanges is the best method to ensure that they are investing in Ethereum safely.

Is Ethereum Legal?

Cryptocurrencies, digital currencies, and cryptocurrency exchanges are all legal in Australia. Furthermore, Australia’s cryptocurrency legislation and policies are forward-thinking. In most jurisdictions, Bitcoin and other cryptocurrencies have recently begun to interact with legal regimes. It is commonly treated as a capital asset and subject to the jurisdiction’s capital gains taxes. However, sales taxes are sometimes substituted or added on top of that. Simply put, buying, selling, and trading cryptocurrencies like Ethereum are entirely legal in Australia.

How to Buy ETH Safely?

Here are some steps on how to buy Ethereum safely.

Step 1: Research the top cryptocurrency exchanges – One must first locate a genuine and trustworthy cryptocurrency exchange platform.

Step 2: Register for an account – It is simple to open an account on a website that sells crypto. The account can be easily made using an email id or Facebook credentials. Then, simply complete Steps 1 and 2 to validate the email, mobile number, and ID.

Step 3: Fund the account with Australian dollars – Once the account is validated, the user is ready to make the first AUD deposit. Therefore, you need to select the preferred deposit method and follow the instructions to complete your payment.

Step 4: Purchase ETH – The exciting part begins once your AUD has arrived in the account because then it is the time to buy ETH. When ready, click ‘Buy Ethereum’ and follow the on-screen instructions to complete the transaction.