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Joined: Sat Dec 16, 2017 9:07 am

Bitcoin in Australia

Sat Dec 16, 2017 9:22 am

Hi everyone, I hope all of you are doing well

I have quite a few questions in my head and want to get your opinions.

How many Bitcoin providers in Australia that you can deposit cash and get it straight into your wallet with unlimited transactions?

What do you think is the reason there is a limit in Australia that we can buy on a daily/weekly basis?

And there is in Australia who claims to be the "Ambassador of Bitcoin". I have used their service it was alright. But the thing that makes me wondering was if the creator of bitcoin is unknown, how can one be the ambassador of it? Does belongs to ? if so why there is such a BIG difference in prices?

let me know your opinions.


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Nickel Bitcoiner
Nickel Bitcoiner
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Re: Bitcoin in Australia

Sat Dec 16, 2017 2:36 pm

Regarding the limit, there is a limit on every exchange (AFAIK) in every country of the world in how much you can buy/sell on a regular basis. This is because of AML/KYC (anti-money laundering/know your customer) laws. These require the websites facilitating financial transactions to have a high degree of confidence in the identity of their customers and the legality of the transactions before allowing large amounts to be transferred.

Have you found the limits in Australia to be significantly lower than for overseas customers (e.g. those using Coinbase or Kraken from the US or Europe, for example)?

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