How to Buy a Large Amount of Bitcoin (BTC) in Australia
Buying large amounts of Bitcoin can be intimidating, especially if you're new to Bitcoin and unsure which platforms to use.
Read on to learn how you can buy Bitcoin (BTC) in bulk in Australia.
How to Buy a Large Amount of BTC With AUD, Step-by-Step
paybtc, Australia’s leading non-custodial bitcoin exchange, makes it incredibly easy to buy large amounts of Bitcoin online. All it takes is just a few steps.
Here’s a breakdown of the steps:
Step 1: Access paybtc
Go to paybtc.com.au to start the Bitcoin buying process. There you’ll find our home page where you can enter your transaction details.
Enter your transaction details
Next, type in your email address, Bitcoin wallet address, and the amount of BTC you’d like to purchase. Then, click ‘Buy.’
To find your Bitcoin wallet address, open your wallet platform and click "Receive”, then copy and paste the address into the transaction details on paybtc.
Don’t have a Bitcoin wallet? Set one up!
Software wallets like the mobile app Muun Wallet are handy and super easy to use, but they’re not the best choice for holding a big stack of Bitcoin.
If you're looking to buy a large amount of Bitcoin, it’s smart to hold your coins in a cold storage wallet, like a hardware wallet such as Bitbox02. These are physical devices that keep your Bitcoin offline, providing greater security.
For more information on how to set up a Bitcoin wallet, click here: How to Start Investing in Bitcoin in Australia: A Beginner's Guide.
Step 2: Enter the email login code
Next, paybtc will send a login code to the email address you entered. Use this code to access the platform and continue with your buy transaction.
Type in or paste the code into the login code box.
If you don’t receive an email, please check your junk folder.
Step 3: Adding your bank to the whitelist
Next, enter the BSB and account number of the bank account you will be using to buy Bitcoin. You can find and copy these details in your banking app or online banking platform - it's the same details you'd provide to receive payments.
Additionally, you'll need to upload a PDF of your most recent bank statement to verify the source of your funds. You can easily export this statement directly from your banking app or online banking platform.
Step 4: Transfer AUD and receive your BTC
Use your banking app or online banking platform to send the AUD funds displayed to the BSB/ACC details provided. There is a copy button next to the details for easy copying.
With paybtc, you can send up to $500,000 per day, simply contact us to apply for higher limits.
When the funds are received by paybtc, you'll be prompted to verify your identity. Verification is only required once. We manually verify new accounts from 9am to 5pm, 7 days a week (AEST). Manual verification is the most private way to do KYC, allowing you to communicate directly with us and securely send us your identification. We keep this information AES-256 encrypted and do not share it with third parties, ever.
Once verified, your payment will be sent directly into your Bitcoin wallet, and all future transactions will clear instantly, 24/7.
That’s it! That’s how easy it is to buy a large amount of bitcoin in Australia.
The Takeaway
Buying large amounts of BTC is a breeze, thanks to paybtc.
You can easily buy and sell BTC using your Aussie bank account in just a few simple steps, and if you’ve got any questions about your transaction, our customer service team is here to help.
Click here to start buying Bitcoin in bulk using paybtc!
FAQs
What is the best app to buy large amounts of Bitcoin?
While many Bitcoin investment apps target smaller investors looking to invest a few grand in Bitcoin, platforms like paybtc allow you to buy bigger chunks of BTC without any hassle.
At paybtc, we can handle big Bitcoin purchases and offer guidance if you need it. Plus, you’re always in control of your bitcoin investment since we’re a non-custodial exchange.
What is the best way to store large amounts of Bitcoin?
The best way to store large amounts of Bitcoin is by using cold storage options. Hardware wallets such as Bitbox02 allow you to store your Bitcoin offline, reducing the security risks faced by software wallets.
How to buy a full Bitcoin?
You can buy a full bitcoin in Australia using the leading non-custodial Bitcoin exchange paybtc.
All you need to do is access the paybtc.com.au website, enter your email address, Bitcoin wallet address and the amount of BTC you want to purchase. Once you have transfered the AUD, your BTC will be directly purchased into your Bitcoin wallet.
Can you buy any amount of Bitcoin?
Yes, bitcoin is divisible into smaller units called satoshis, also referred to as sats. One satoshi is a hundred millionth of a Bitcoin, and, in theory, you could buy as little as one satoshi for a fraction of a dollar. Conversely, you could also buy millions or billions of dollars worth of Bitcoin.