What self-custody means when you buy bitcoin in Australia
Self-custody means you hold the keys to your bitcoin, in a wallet you control. On paybtc, your order carries that wallet's address, and you confirm the wallet is yours. You pay by bank transfer, and the bitcoin goes straight to it.
What a key is
A bitcoin wallet holds keys, and the keys move the bitcoin. Self-custody means you hold them, so the bitcoin moves when you say so. Your wallet also gives you an address, a string of letters and numbers where your bitcoin arrives.
What an exchange balance is
When an exchange keeps the bitcoin you buy, the exchange holds the keys. Your account shows a balance, the exchange's record of what it holds for you. The bitcoin moves when the exchange sends it. Moving it to a wallet you control is a withdrawal, a separate step.
What happens on paybtc
paybtc is Australia's self-custody bitcoin exchange. The bitcoin you buy lands directly in a wallet you control. Every buy order carries that wallet's address. In your wallet, find “Receive bitcoin” and copy the address. Paste it into the field marked “Your bitcoin address”, or scan the wallet's QR code. The first time you use an address, the form asks you to confirm the wallet is yours.
The order page then shows the bank details. Pay the exact amount from an account in your name, and paybtc sends the bitcoin to the address you gave. Below “Waiting on your payment”, the order page reads: “Make sure you control this address.”
Why paybtc asks whose wallet it is
On the form, a box appears beside one sentence: “I confirm the receiving wallet belongs to me and that no third party is involved in this payment.” Tick it, and the order can go ahead. This is paybtc's Travel Rule step. It is your word that the wallet is yours, and that the person paying is the person receiving. The box appears for each new address, and an address you have confirmed before goes straight through.
Your own wallet, or b
If you hold your own keys already, use your wallet: paste its address into your order, and paybtc sends the bitcoin straight to it. Or start with b, the wallet paybtc built, where you hold your own keys from the first buy. b is in TestFlight: join at getb.app.
The facts
| Where the bitcoin goes | The address on your order, in a wallet you control |
|---|---|
| Wallet confirmation | Once for each new receiving address; an address you have confirmed before goes straight through |
| New users | A $5,000 limit to start |
| One order, returning customers | Up to $1,500,000 |
| Daily limit | Set for each account; an order over what remains today brings up “Your daily buy limit”, “Remaining today” and a Request limit increase link |
| Identity verification | When your account needs it, the order goes to verification first, and the order page shows its bank details once it is complete |
| Paying | The exact amount shown, from an account in your name |
| Instant transfer | Clears instantly, around the clock; the bitcoin is sent the moment the funds arrive |
| Regular bank transfer | Up to one business day to clear |
| First order | Can be held for a standard fraud-prevention check: paybtc contacts you to confirm it, usually within 48 hours, Monday to Friday, and later orders clear instantly |
Ready when you are.
Buy bitcoinQuestions answered.
What does self-custody mean?
Self-custody means you hold the private keys to your bitcoin, in a wallet you control, and the bitcoin moves when you say so. paybtc is Australia's self-custody bitcoin exchange, so the bitcoin you buy goes straight to that wallet.
Do I need a bitcoin wallet to buy bitcoin in Australia?
On paybtc, yes. Every order carries the address of a wallet you control, and the bitcoin goes straight to it. Use one you hold the keys to already, or start with b, the wallet paybtc built.
Can I buy bitcoin and send it straight to my own wallet?
Yes. In your wallet, find “Receive bitcoin”, copy the address and paste it into your order, then confirm the wallet is yours. Pay by bank transfer, and paybtc sends the bitcoin to that address.
Why does paybtc ask me to confirm the wallet is mine?
It is paybtc's Travel Rule step. The first time you use an address, you tick one sentence: “I confirm the receiving wallet belongs to me and that no third party is involved in this payment.” An address you have confirmed before goes straight through.
Where do I get a bitcoin wallet in Australia?
b is the wallet paybtc built, where you hold your own keys from the first buy. It is in TestFlight: join at getb.app.