Australia is one of the countries that are interested in promoting cryptocurrency use on the market. The government has a lot of plans, some of which were already implemented. For example, one of these is exchange registration. Australian plans and rules relating to cryptocurrencies are progressive and uplifting for the country and crypto world at the same time.
Even though the nature of cryptocurrencies is against centralization, regulation, and control, they attract a lot of governmental financial institutions. The topic about fitting this decentralized system in the modern world was even discussed on the G20 summit. Australia, however, is a country that doesn’t only talk about this but also tries implementing cryptocurrencies in people's’ everyday life.
At the moment, the Australian crypto market isn’t the biggest in the world, but it has a good perspective to become one. Australia is ranked 14th among all countries for Bitcoin volume by currency. When this information was published, the Australian dollar had volumes of 276 Bitcoin or $2810190 AUD in a 24-hour period.
Japan is in the top of this rating having a 60% market value by processing 30,1404 Bitcoins in 24 hours. If to compare Australia with Japan, the Australian market might seem to be weak, but if to have a wider look at things around, this country is also considered to be a large player.
One of the major rules for cryptocurrencies in Australia is to register with AUSTRAC and meet the Government’s Anti-Money Laundering and Counter-Terrorism Financing compliances along with reporting obligations. At the moment, only three exchanges have been officially licensed in the country. The worry is in the possibility to make global anonymous transactions and the Australian Government wants to prevent terrorism financing and money laundering.
So, one one hand, the country is trying to keep the society safe, and on the other hand, the blockchain technology is being developed even more. People that own cryptocurrencies on their own wallets can buy goods without spending fiat money. The only problem might be in the volatility of the market, as one time you have to pay one number in BTC, and the next time it's already different.
In 2018 the government has announced a list of regulations for cryptocurrencies and everything that relates to them. A major feature is the requirement for exchanges to identify and verify all users, keep records of transactions and deals, comply with the reporting obligations stated by the country's government. All exchanges that do not follow these rules are considered to be illegal. If the company isn’t registered, it can be subjected to penalties and criminal charges.
MaxiTrade works officially on the territory of Australia, so users do not have to worry about anything connected with this. Traders get all required tools and features after passing their identity verification. This is important for traders from any country. Companies that do not do this receive penalties and are banned.
Even though the crypto world is only developing in the country, any person that is 18 years old and above has the possibility to trade cryptocurrencies live. MaxiTrade offers:
A major advantage is that this broker offers low fees in comparison with others and has a simple, yet professional trading platform.
Basically, any cryptocurrency can be traded in Australia:
The purchased currencies will be stored on your brokerage account and will be available for sale at any moment you want. Deals can be made in two clicks.
These six currencies that have been listed above are considered to be one of the most perspective. Experts say that if they don't grow in price, at least they won't fall for sure.
In Australia the crypto world has a high perspective, as a lot of institutions, shops and cafes are interested in it. Additionally, even Australian cryptocurrencies are being developed and that is a good sign.
There are nine Australian cryptocurrencies that are used worldwide. If we are missing some more coins, please let us know. These are:
Not all brokers have these for trading, but if they develop further, they could be used as often as Bitcoin is.
The prices for these tokens are not very high as they are not used so often as BTC and others are. This does not mean that they are not perspective, but a bigger investment in their development would be great for Australia. Not every country can be proud of having its own successful cryptocurrency. Australia has all the chances to become a bigger player on the market.
The Australian government requires cryptocurrency users to pay taxes. This has to be done when a person makes a capital gain by disposing the currency. This includes:
To find out more information, visit the nearest taxation office to have a consultation. This way you can find out about the percentage rate you need to pay.
It’s important to remember that when crypto coins are acquired for personal use, the taxation rate is different. When cryptocurrency is used as an investment, it is used in a profit-making scheme or it is in any business, it is not considered as a personal use asset.
At first, MaxiTrade allows users to register an account in less than a minute. After creating it, the user should upload information that confirms his identity and top up his account to be able to start cryptocurrency trading Australia.
The prices for Bitcoin and other currencies change every second. Sometimes they fall and sometimes they grow. Everything depends on a lot of events and news. Traders can protect themselves by setting a stop-loss value. This means that negative balances are impossible as far as a certain sum at which the coin will sell is set. For example, you bought any coin for $1000 AUD. You set the stop-loss value at $1000 and the take-profit at any number that is higher than $1000 Australian Dollars.
Trading Bitcoin is much easier than buying it straight at an exchange. This way you can both buy and sell any coins, what isn’t guaranteed with exchanges. Traders do not really own the currencies, they simply trade on the price movements. This is great as when Bitcoin had a 36% fall, a lot of people could invest some money and buy it. After that, the price had risen for more than 50% from the initial value and people could have a good profit. However, the situation in the crypto market is not stable and has a lot of risks.
To really feel the profit when trading, big sums must be invested. Otherwise, the changes won’t be that noticeable and definitely will not be worth the time spent. It is possible to earn by having a small sum invested by always reinvesting. With the situation around Bitcoin on the market, sometimes it even is possible to double the investment in the first day.
Another note is a bit off-topic, but most shops accept only Bitcoin. That is why if you own BTC on your own wallet, there is a higher chance that you might be able to use it for purchases. However, if you are in for trading, the coins, most likely, won't be on your own wallet.
MaxiTrade is a secure transaction platform that is trusted in the crypto and investment industries. You can trade officially with minimum fees from the side of the broker.
There is a major difference between buying and trading Bitcoin. The first thing is that trading is simpler than making a straight purchase. At the same time, it is much more lucrative. BTC prices rise and fall almost every day, so traders can earn money on the volatility of the market.
By actually buying the currency, the user has to pass all the troubles of opening and installing an electronic crypto wallet and can only gain profit if the Bitcoin price grows in the future and there is a buyer. If the price goes down, there is nothing that can protect the money invested as sheer cryptocurrency is owned. Only losses can be expected at moments like these.
Trading, however, gives the possibility to earn money on the growth and fall at the same time. And it is not required to actually own the coin. Consider this as a game of prices. Traders can simply speculate on daily price changes and earn bit by bit in short terms rather than waiting for a long term after buying the coin.
Before going in for anything it is important to understand whether the topic is good enough for you. Any investment goes on with some risks. If you want to earn a lot, you should invest a big sum of money. Small sums won’t fit here, only if this is your hobby.
As Bitcoin is the largest and most popular cryptocurrency, it is considered to be one of the most profitable choices. This is the coin that has stormed the world with its appearance, high volatility levels, daily value jumps. This is a good opportunity for people who have an understanding of the market to earn. Most users first invest a sum, double the profit, cash out the invested sum and continue trading with the half that is left in the account.
Cryptocurrencies have received a high demand since 2013 when prices for BTC started growing significantly. A lot of people sold out almost all their coins then and now feel pity for that as their haste made them lose 10 times bigger profits. The global frenzy driven by Bitcoin made the prices grow even higher and showed the world what cryptocurrencies really are.
Let us have a look at both sides of the coin:
As we see, this method is mostly good for people who want to invest a smaller sum of money and want to have profits in short terms mostly.
Let us have a look at both sides of this deal:
As we see, buying BTC is more like a long term investment and is good for those who have enough money, know how to analyze the market and predict prices, don’t want to spend time by earning only small bits.
The answer can be received only depending on your financial goals and what do you expect to see. Australian investors are really interested in Bitcoin and other cryptocurrencies as the market has high volatility. As it is considered to be a young market in comparison with fiat currencies, the price swings a pretty big and give a lot of chances.
The trading way is flexible and gives investors a wide variety of choices for strategies. Users can make long and short term investments as they wish and gain profit. The Australian markets are open 24/7, so trading can be made at any time that suits the user. Additionally, trading with a broker usually offers leverage that can boost your profits by giving a larger exposure to the market than the user might get by direct currency purchase.
Trading is considered to be definitely better than straight purchasing in most cases. Both ways have their advantages and disadvantages, but trading in the winner in this comparison.
Any cryptocurrency trading strategy has to include any kind of risk management. This can be a stop-loss order or anything else. A stop-loss criteria allows the trader to set up a price at which he agrees to sell his currency to minimize losses if the market moves against him.
Take-profit criteria should also have place as it gives a possibility to maximize the user's profits when trading. When the price reaches a certain value, an automatic selling deal will occur. MaxiTrade has such features, so you can use them with any trade.
These are the two basic features that professionals use in any type of trading. This way it even is possible not to monitor the market on your own, although it is recommended to check it sometimes.
Also, it is important to analyze the market and news connected with the crypto world. This will give the user a possibility to get acquainted with the freshest trends. Expert opinions also can give a lot of useful tips. In such a way traders can predict the approximate future changes in prices for different cryptocurrencies and make up a plan ahead.
A lot of coins are connected with each other. This is called “correlation”. For example, Bitcoin is correlated to Ethereum and Litecoin. If prices grow or fall for one of these, it is expected for the correlated currency to do the same. However, as Bitcoin is the leader of the crypto market, this coins growth benefits all other currencies. Experts often use this information to predict future changes.
However, this information is not 100 percent trustable. Correlation does not work for sure in one way. As an example, Ripple XRP is only correlated to Ethereum by 79%. This means, that is Ethereum grows in price, there is a 79% chance that Ripple XRP will do the same. That is why it’s important to check out the information that is not only related to the cryptocurrency you use but others as well.
For those, who do not want to invest a lot of time, but are interested in earning money by trading cryptocurrencies, exist specific “trading signals”. These show users automatically created or professional analysts recommendations. MaxiTrade has such a system which is available for free for all registered traders. If a user does not want to spend any time to analyze the market on his own, he can follow such trading signals which show him whether he should buy, sell or wait.
There even are sites, groups, and Telegram channels that are dedicated to this sort of topic. Some signals can be received only after a subscription is made. It is important to remember that such trading recommendations are not eternal and often require the user to act immediately and buy some specific type of currency. You should also keep in consideration that some signals are made for specific trading platforms, so there might be a slight difference around.
With MaxiTrade you do not have to worry, as you can check signals for all cryptocurrencies, fiat currencies, commodities and stocks that can be traded live. If you see that there is a profitable deal for you, it is possible to make a deal straight from the recommendation window.
Experts also recommend not to focus only on one thing and to invest in several different types of cryptocurrency. For example, you can work with Bitcoin, Ethereum, and Litecoin at the same time. As the first rule of investment says, do not keep all eggs in one basket. You never know what can happen, so it is better to make sure that part of your funds is safe.
Trading can be both a short- and long-term investment. You can trade bit by bit every day or wait for the prices to grow significantly and sell everything at one time. If you are interested in long-term investments, try out the stocks section on MaxiTrade. Choose the best offer, analyze future events to calculate your possible profit and decide what to buy. The price can jump up any second.
It is important to understand the way the market works. When you see why the prices change and how they work, trading will have a completely new look for you.
At first, it’s important to revise that almost all cryptocurrencies, including the most popular Bitcoin, Litecoin, Ethereum, Ripple, DASH and others, have no connections with central authorities as traditional fiat currencies do. That is a reason why the factors that influence fiat money usually are not considered in the crypto world.
As cryptocurrencies are basically young assets if to compare them with fiat, so they have high volatility on the market. It is hard to tell the reasons for this, but experts mostly agree that this is connected with some specific correlations.
One of the major problems cryptocurrencies have to face now is the threat of centralization and regulation. Governments want to have everything under control and cryptocurrencies go against that. A lot of financial institutions are worried about the way crypto money affects the world market. In countries like China, cryptocurrencies have simply received a lot of restrictions and been banned for this reason. Such events have a high effect on price movements.
Also, there is such a term as “forking” which means that one cryptocurrency basically splits in two. This creates a new path in the market and changes prices significantly. An example is Bitcoin and Bitcoin Cash. Hard forks have a negative effect on the price movement.
When trading cryptocurrencies, one should make sure he investigates the market regularly. It’s important to understand how certain currencies react to various events based on previous experience. This way it is possible to make an approximate prediction. An exclusion is made if the person uses only trading signals. This can work too, but you can’t always rely on that.
A large step towards introducing cryptocurrencies into the everyday social life is that the Australian government allowed its citizens to pay their bills in crypto. This is done with the help of special platforms that act as intermediaries. Some of the most popular are Cointree and Gobbill. It all started with a start-up and is quite successful today.
Such a system has been provided in some European countries as well. For example, Germany, France, Belgium, the Netherlands allow citizens to use similar intermediaries. One of the most popular service there is BitBill, which supports a bit more than 20 different crypto coins for payment.
Also, there are restaurants and cafes that accept such a way of payment as well. Here are some of them:
Mostly, only Bitcoin is accepted as a way of payment, even though there are some cafes that accept other coins as well.
Finally, there are plenty of online stores that allow crypto payment. As you can see, the industry is very popular and is worthy for an investment. All you need is a wish to learn and some cash to invest.
MaxiTrade is one of the not many broker companies that offers its users educational materials. Regular webinars with a lot of useful information for both professionals and beginners. Also, events that can affect the market prices are reviewed, so it is a good idea to sometimes visit these webinars. They are available for free.
The broker also has its own trading school for all users that want to learn. It's a good way for newcomers and amateurs to improve their skills. Professionals will introduce users the basics of crypto trading. The courses include theoretical and practical tasks.
If you decide that studying on your own is the best way for you, then make sure that you learn the basics. These include basic information about cryptocurrencies, the way they are traded and bought, what affects the market prices, what are stop-loss and take-profit criteria, and, of course, the most common trading strategies.
It is also important to have some practice - trading simulators are great for this. They allow users to test their skills without losing real money. To motivate, the services include leaderboards and even real rewards! For example, there are games that give the best players real cryptocurrencies or bonuses for their partner sites. It's a good way to practice and earn some rewards at the same time.
A good trader should always stay informed about the latest economic events. Even by spending 20 minutes for reading news or watching on-topic channels on TV it is possible to get some information that can help with making profitable deals. Subscribing to specific groups in social media can also be taken into consideration.
Registering on specified trading forums or using subtopics on such communities as Reddit will give you a possibility to discuss any topic that is related to trading with other beginners, amateurs or professionals. People often discuss the latest news there and share great ideas that can help to increase your profits. The only thing is, ignore the trolls. There are people who like trolling newcomers and other users, so be careful when reading their "bits of advice".
Books are another great source of information and knowledge. A lot of them often share some interesting strategies. Some professional traders write their own books describing personal experience. This is a list of some books that might come in handy:
These books are the basics for newcomers in the trading sphere to learn some stuff about it.
If you have no wish to learn a lot about cryptocurrencies, you can simply use a strategy involving crypto trading signals. These are available with MaxiTrade for nearly every fiat currency, cryptocurrency, commodity, and stock. Both automated and professional signals can be received. This gives people that have no time or wish to examine the market on their own a possibility to earn too. Signals can be available for free or for a subscription payment. Make sure that your provider is a real professional or uses quality software so that no funds would be lost.
After you feel that you are ready enough for some real trading, create your brokerage account with MaxiTrade. Here you can trade all popular coins and other stuff.
The first step to your real trading experience is creating a brokerage account. For this, open MaxiTrades main page. A registration form will be available on the top right side of the screen. Here you should enter your name, surname, mobile phone number, email, and a newly created password. Confirm that you are 18 years old or above and hit the blue "Register" button.
You will be automatically redirected into your personal account. It is recommended to confirm your identity at once by uploading a passport, foreign passport or driver's license, and a document that confirms the address where you live. This is required for all users. The Australian law is not the only one that makes users upload their documents when using a brokerage service. Keep in mind that it might take some time to check your documents. The scans should be of high quality so that it would be possible to read the information from there.
After that, go to the "Deposit" section. Here you can top up your account. Select the most comfortable choice for you and enter any sum. MaxiTrade accepts deposits starting with 1 euro. It is important to remember that if you use any other currency, it will be converted and a small bank fee can be charged. As a newcomer, you will receive a welcome bonus depending on the sum you have sent to your account. You will also be able to use all other promotions the company offers. For example, the latest event allows all users to copy the company's professionals portfolios to receive a maximum profit. No payment for this is required.
You will be informed about all events and deals on your email. Also, if you wish, you will receive news regarded to trading as well. This way you will always stay in touch with your account and find out about new profitable deals first.
After you have passed all required registration steps, you receive full access to the trading platform. To open it, press the blue "Trade" button in the top left corner. This will redirect you to the web-platform.
Here you have a possibility to select what do you want to work with, buy or sell coins, currencies or stocks, sell all of this, set a stop-loss and take-profit criteria. Also, there is leverage, keep that in mind when working.
You can use a graphic indicator or the signal window to know when and how it is best to make a deal. Sometimes it's better to sell, sometimes to buy, and sometimes it is better to wait for some changes.
Do not forget to get acquainted with the freshest news and events. This will let you predict the future price changes on your own. This way you can have a maximum profit in a short period of time.
If you have any doubts about your trading skills, then try making a few deals at a minimum price. This way you won't lose a lot if the deal isn't successful. If you see that you gain profit and everything is okay, then invest more. A lot of traders that only start their career invest $500, then double the sum by trading and cash out $500 with having the same sum left to work with. This way there will never be negative balances and you will only gain profit.
MaxiTrade also has a mobile app that allows users to trade on the way. If you are a new user that still hasn't created an account, this is possible to do in less than a minute. Authorization also takes minimum time.
The greatest advantage of the mobile app is that users get all the tools and features that are available in the web-version. This way, the app goes without any restrictions and allows users to process the same operation as on their PC.
It is possible to:
Also, the app doesn't take away a lot of storage space on the phone, so even if it does not have a lot of free memory, the app can be installed.
MaxiTrade is a respected company with more than 10 years of experience on the market. There are a lot of active users that work with this broker who consider trading to be their main source of income.
A lot of positive reviews can be found on the internet. The charges fees are low, you can make a deposit starting with one euro, and no restrictions are made. The platform is good for beginners, amateurs, and professionals. The design of the trading interface is simple, yet functional.
A few other reasons are the possibility to get educational materials, trade at any time, and the availability of the support which answers any questions as fast as possible.