Buying Bitcoin with POLi

POLi is an australian payment method that makes paying with your bank account super easy and fast.

One of the biggest problems with wire/bank transfers are their speed.   They can take up to a week to clear.  By the time the money lands in your exchange account, the price of Bitcoin may have changed dramatically.   So it’s not very useful for purchasing Bitcoin.

POLi on the other hand is very different.  They make payments using your bank account happen instantly!   As a fully owned subsidiary of Australia Post they are a trusted and well supported option for online payments.

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The best way to buy Alt Coins in Australia

Bitcoin is great – but there is a whole world of other Cryptocurrencies out there.  If you’re looking to start investing in some of the other coins and tokens, here is how to get started in Australia.

In the past it was a bit difficult to buy alt-coins.  You needed to first buy bitcoin, transfer to an exchange and then buy a coin.  And with Bitcoin fees being so high these days, this really is a very expensive way to buy alt-coins.  Thankfully, there is an alternative:

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Cryptocurrencies I’m investing in this November

Time for a monthly roundup of the cryptocurrencies that I’ve been investing in this month.  As always, don’t take the following as investment advice.

NavCoin

Navcoin is an interesting currency.  It uses on proof-of-stake and pays interest on the coins you hold in your wallet.  This month its performed really well off the back of good progress being made on the platform.

Verge

Verge is an anonymous cryptocurrency.  Personally, I’m not too concerned with privacy, but I know many people are and are willing to pay for privacy.  So I believe there is significant value in a coin that offers privacy.  Nav Coin also allows private transactions, but it isn’t the sole focus of that coin.

I was really impressed by the development community of Verge with lots of libraries and support for various programming languages.  I’m quite bullish on where this coin could go so I invested for the first time in Verge this month.

Bitcoin

Most of the headlines this month have been about Bitcoin.  No surprise – it’s had a pretty amazing month.  Bitcoin is a regular investment for me and I see it as a powerful store of wealth.

Ethereum

My biggest holding is in Ethereum.   I love Ethereum as a platform and it has huge potential to go mainstream.  Ethereum is a regular investment for me.  It has had a mega year this year, and my outlook is bullish over the coming 12 months.

Litecoin

I use Litecoin as an actual currency.  It’s so much cheaper and faster than bitcoin.  So as I use it, it makes sense that I invest in it as well.  Just like Ethereum and Bitcoin its a regular investment for me.

The easiest way to invest in Etherium

While, Bitcoin still attracts most of the headlines, the second largest cryptocurrency, Ethereum, still draws plenty of attention.  And for good reason.

Ethereum is not just another currency.  It can be used for so much more.  The best way to think of it, is like a giant distributed computer.  Developers can build apps that run using the computing power of Ethereum.    Already we’re starting to see some exciting development on the platform, but it’s still only the very early days.

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Making money trading Bitcoin CFDs

Did you know you can trade Bitcoin CFDs?  A CFD (contract for difference) lets you profit when the price of the underlying asset moves.  In this case the underlying asset is bitcoin.

Investors have been trading stock and commodity CFDs for a long time, but only recently have digital currencies been made available for this financial product.

Trading a CFD is much like trading the actual asset.  CFDs offer a couple of extra advantages such as being able to sell or short an asset and trade using leverage.

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The easiest way to buy bitcoin online

As of writing this post, Bitcoin is sitting at around the $2.5k mark.  And now more and more people are buying into Bitcoin as an investment.

Now I can’t say whether or not the price of Bitcoin will continue to rise.  Some people believe it will reach $1 million due to the limited amount, others believe the opposite.  But I do think it’s an interesting investment opportunity.  High risk, but potentially high reward.

You may be looking to just buy a small amount for the fun, or you might be looking at taking a larger position as an investment.  So I thought I would share with you what I believe is the easiest way to buy bitcoin online.

Buying Bitcoin through Coinbase

In my opinion the easiest way to buy bitcoin online is through Coinbase.  They’re one of the few bitcoin sellers who accept credit card deposits and they are available in multiple countries around the world.

Registration and verification was painless and only took me a few minutes and I had made my first digital currency purchase within around 10 minutes!

Coinbase has a maximum amount you can purchase on a weekly basis, but this should be fine for most first time buyers.

Storing your Bitcoin

You can store your bitcoin in an online wallet such as coinbase, but you might also want to store it yourself.   If you have a large bitcoin investment, it’s best not to store it in an online or cloud based wallet as you run the risk of that service shutting down.