G'day Stackers, I've been asked a few questions about buying BTC & id like to know how everyone else does it. I bought Btc on CoinJar a few years ago & paid about 10% over what it was trading for on most exchanges, from memory I had to provide proof of identity etc, the money was deposited at a NAB(?) Bank & went to somewhere in Bulgaria(?). I was freaking out but the small amount I bought arrived in my CoinJar account then was transferred to Btc-e(good!) & Criptsy(bad!). At the time everything went smooth & as I was prepared to lose/gamble on what I had invested I thought I was well n truely enroute to becoming a "Btc millionaire"!! I also bought a few more Btc from ppl on this forum, a little over trading price. LocalBits is another option. Paying over the trading price of Btc on exchanges is fine, you sell at eg CoinJar selling price or higher(some ppl value anonymity), if the price starts dropping I change into fiat(on the exchange), then if I wish to sell I make a deal(CoinJar sporprice), get their transfer then transfer said amount straight to buyers address. In theory, not sold any but that's what I'd do. Once you have some Btc send it to exchanges to start working/trading. I like Btc-e & more recently Bittrex. Brake it down into alt coin, I just had a punt on Cloak coin, dive to fiat(on exchanges) when it starts to crash, sit on it. If you miss out on a big move north I just sit in exchange in fiat until it's cheap again. If you get caught holding a bag.. I had Some Ltc I bought for $22 & when back from a holiday it was $10.50, I bottom drawer it for 18mths then sold them for $36. Also, you can buy any fraction of Btc, 0.001111111 if you want. You don't need a wallet, even if u buy private you can have them sent to your online trading account. How do others buy your Btc?
I just started out so am still setting up. Main ways I've considered (so far) obtaining bitcoin is via coinjar and/or selling PMs through here. Plan is to buy other coins through Coinjar/Bittrex/Polo, store in my Exodus wallet and then transfer to Coinjar when I want to deposit into my Aussie bank account.
So. CoinJar LocalBits & Private are the only 3 ways in Australia I guess & the actual price of bitcoin is about $200 extra each than the tote price on exchanges.