Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
US Stocks Climb A “Wall Of Worry” To New Highs - 16th Apr 21
Gold’s Singular Role - 16th Apr 21
See what Anatomy of a Bursting Market Bubble looks like - 16th Apr 21
Many Stock Market Sectors Are Primed For Another Breakout Rally – Are You? - 16th Apr 21
What Skyrocketing US Home Prices Say About Inflation - 16th Apr 21
Still a Bullish Fever in Stocks? - 16th Apr 21
Trying to Buy Coinbase Stock on IPO Day - Institutional Investors Freeze out Retail Investors - 15th Apr 21
Stocks or Gold – Which Is in the Catbird Seat? - 15th Apr 21
Time For A Stock Market Melt-Up - 15th Apr 21
Stocks Bull Market Progression Now Shows Base Metal Strength - 15th Apr 21
AI Tech Stocks Buy Ratings, Levels and Valuations - 14th Apr 21
Easy 10% to 15% Overclock for 5600x, 5900x, 5950x Using AMD Ryzen Master Precision Boost Overdrive - 14th Apr 21
The Current Cannabis Sector Rally Is Pointing To Another Breakout - 14th Apr 21
U.S. Dollar Junk Bond Market The Easiest Money in History - 14th Apr 21
The SPY Is Nearing Resistance @ $410… What Is Next? - 14th Apr 21
The Curious Stock Market Staircase Rally - 14th Apr 21
Stocks are Heating Up - 14th Apr 21
Two Methods in Calculating For R&D Tax Credits - 14th Apr 21
Stock Market Minor Correction Due - 13th Apr 21
How to Feed Budgies Cucumbers - Best Vegetables Feeding for the First Time, Parakeet Care UK - 13th Apr 21
Biggest Inflation Threat in 40 Years Looms over Markets - 13th Apr 21
How to Get Rich with the Pareto Distribution - Tesco Example - 13th Apr 21
Litecoin and Bitcoin-Which Is Better? - 13th Apr 21
The Major Advantages Of Getting Your PhD Online - 12th Apr 21
Covid-19 Pandemic Current State for UK, US, Europe, Brazil Vaccinations vs Lockdown's Third Wave - 12th Apr 21
Why These Stock Market Indicators Should Grab Your Full Attention - 12th Apr 21
Rising Debt Means a Weaker US Dollar - 12th Apr 21
Another Gold Stocks Upleg - 12th Apr 21
AMD The ZEN Tech Stock - 12th Apr 21
Overclockers UK Build Quality - Why Glue Fan to CPU Heat sink Instead of Using Supplied Clips? - 12th Apr 21 -
What are the Key Capabilities You Should Look for in Fleet Management Software? - 12th Apr 21
What Is Bitcoin Gold? - 12th Apr 21
UK Covd-19 FREE Lateral Flow Self Testing Kits How Use for the First Time at Home - 10th Apr 21
NVIDIA Stock ARMED and Dangeorus! - 10th Apr 21
The History of Bitcoin Hard Forks - 10th Apr 21
Gold Mining Stocks: A House Built on Shaky Ground - 9th Apr 21
Stock Market On the Verge of a Pullback - 9th Apr 21
What Is Bitcoin Unlimited? - 9th Apr 21
Most Money Managers Gamble With Your Money - 9th Apr 21
Top 5 Evolving Trends For Mobile Casinos - 9th Apr 21
Top 5 AI Tech Stocks Investing 2021 Analysis - 8th Apr 21
Dow Stock Market Trend Forecast 2021 - Crash or Continuing Bull Run? - 8th Apr 21
Don’t Be Fooled by the Stock Market Rally - 8th Apr 21
Gold and Latin: Twin Pillars of Western Rejuvenation - 8th Apr 21
Stronger US Dollar Reacts To Global Market Concerns – Which ETFs Will Benefit? Part II - 8th Apr 21
You're invited: Spot the Next BIG Move in Oil, Gas, Energy ETFs - 8th Apr 21
Ladies and Gentlemen, Mr US Dollar is Back - 8th Apr 21
Stock Market New S&P 500 Highs or Metals Rising? - 8th Apr 21
Microsoft AI Azure Cloud Computing Driving Tech Giant Profits - 7th Apr 21
Amazon Tech Stock PRIMEDAY SALE- 7th Apr 21
The US has Metals Problem - Lithium, Graphite, Copper, Nickel Supplies - 7th Apr 21
Yes, the Fed Will Cover Biden’s $4 Trillion Deficit - 7th Apr 21
S&P 500 Fireworks and Gold Going Stronger - 7th Apr 21
Stock Market Perceived Vs. Actual Risks: The Key To Success - 7th Apr 21
Investing in Google Deep Mind AI 2021 (Alphabet) - 6th Apr 21
Which ETFs Will Benefit As A Stronger US Dollar Reacts To Global Market Concerns - 6th Apr 21
Staying Out of the Red: Financial Tips for Kent Homeowners - 6th Apr 21
Stock Market Pushing Higher - 6th Apr 21
Inflation Fears Rise on Biden’s $3.9 TRILLION in Deficit Spending - 6th Apr 21
Editing and Rendering Videos Whilst Background Crypto Mining Bitcoins with NiceHash, Davinci Resolve - 5th Apr 21
Why the Financial Gurus Are WRONG About Gold - 5th Apr 21
Will Biden’s Infrastructure Plan Rebuild Gold? - 5th Apr 21
Stocks All Time Highs and Gold Double Bottom - 5th Apr 21
All Tech Stocks Revolve Around This Disruptor - 5th Apr 21
Silver $100 Price Ahead - 4th Apr 21
Is Astra Zeneca Vaccine Safe? Risk of Blood Clots and What Side Effects During 8 Days After Jab - 4th Apr 21
Are Premium Bonds A Good Investment in 2021 vs Savings, AI Stocks and Housing Alternatives - 4th Apr 21
Penny Stocks Hit $2 Trillion - The Real Story Behind This "Road to Riches" Scheme - 4th Apr 21
Should Stock Markets Fear Inflation or Deflation? - 4th Apr 21

Market Oracle FREE Newsletter

FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

An Ultimate Guide for Cryptocurrency Trading in Australia

Currencies / Bitcoin Mar 30, 2021 - 04:42 PM GMT

By: Submissions

Currencies Trading in cryptocurrency means making a profit by buying and selling cryptocurrency. It is done by making assumptions about price changes in the market. At first, this may seem difficult, but once you know how trading is done you’ll earn a huge profit out of it.

Trading of cryptocurrency is usually done through cryptocurrency exchanges. All you need to do is choose a reliable cryptocurrency exchange, create an account and start trading cryptocurrencies.

However, it’s not as easy as it may sound. Cryptocurrency regulation is one of the most talked-about topics in the world. Opinions differ on whether or not cryptocurrencies should be regulated in Australia. There is various news about the Australian government showing some relaxation, but they haven't slowed down crypto regulation.




Australia is one of those countries that raised awareness of this issue. In 2017, the Australian government announced that cryptocurrencies were legal. In their statement, they stated that "cryptocurrencies are evolving rapidly" and that anyone who buys or sells cryptocurrencies should be aware of the tax implications.

In 2018, the Australian Transaction Reporting and Analysis Center (AUSTRAC) passed a new law on digital currency exchange. This law is stricter as the exchange of cryptocurrencies is required to register with AUSTRAC, verify and identify users, maintain documentation and meet government reporting requirements.

If you are new to trading, you must find it hard to do. The term 'cryptocurrency' itself seems strange and confusing to many, as everything happens virtually. However, trading in cryptocurrencies is now easier and anyone can learn to do it with little effort. Choose one of the best trading platforms in Australia to start investing in cryptocurrencies.

Once you set up an account, you can immediately start trading in almost every cryptocurrency using Australian dollar. All you have to do is buy the cryptocurrency of your choice and store it in your favorite wallet.

Some of the cryptocurrencies allowed in Australia are CoinSpot, CoinJar, and eToro.

How to trade cryptocurrency in Australia?

Cryptocurrencies are essentially volatile, so the probability of profit during trading is high. Bitcoin is the preferred cryptocurrency for Australians because it is highly volatile. However, cryptocurrencies are "linked" or rather interconnected.

When the price of Bitcoin rises, so does the price of Ethereum, Litecoin, and other currencies. However, there is always risk involved in investing in digital assets. Predicting price fluctuations is vital to properly investing in cryptocurrencies. Whether you trade manually or use an automated trading program, you always need a trading strategy.

Hodling Crypto

The term "hodling" of cryptocurrencies means keeping them for a long time. Long-term hodlers are mostly beginners who have just begun their journey into the world of cryptocurrencies. They usually buy the currency at a lower price, hold it and wait for the price to rise, and then sell it.

But there is something here with Hodling; patience is needed. Many hodlers don't have patience, so they purposely sell their coins at a higher price thinking they won't go up anymore. Then they end up regretting when the price exceeds their expectations. It isn’t specified how long you can keep these coins but people usually hold them for days, weeks, or even years.



Contract for Difference

CFD stands for contract for difference. This cryptocurrency trading method is a bit difficult, especially for beginners. A CFD is an underlying contract, you never have cryptocurrency in CFD trading. Instead of opening a business, you can think about whether the underlying assets will rise or fall.

CFD trading is regulated in many countries and now fully allows this. Fortunately, the ASIC (Australian Securities and Investment Commission) in Australia has enabled the exchange of CFDs. It's worth noting that Australians were familiar with CFD trading long before cryptocurrencies were introduced. They used CFDs to trade commodities, futures, currencies, stock indices, and individual stocks.

Things to consider

Since the creation of the first cryptocurrency, no financial market has come close to the returns delivered in the region. Cryptocurrencies have evolved from simple exchange to value. You can fulfill your long-lost dream of saving investors from the serious shortcomings of normal behavior.

The value of local currency has depreciated as central banks printed money during a recession, while cryptocurrencies appreciated due to the decentralized nature of their value. Now more and more people are entering this market and trying to protect themselves from the devaluation of their national currency.

Initially, bitcoin and other crypto money were considered to be the target of crime, and their use was largely limited to blind online markets. But little by little, big businesses, large corporations, and even governments have quietly taken a stand on cryptocurrencies and blockchain technology.

Public interest in cryptocurrencies has increased, thus adding fuel to the fire of cryptocurrencies. As with all other asset classes, cryptocurrency prices depend on supply and demand. However, cryptocurrencies remain a new class of financial assets with varied and diversified price factors.

By Web-Bee Suite Team

© 2021 Copyright Web-Bee Suite Team - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules