At UTXO Dreams, we understand the importance of starting your Bitcoin journey with the right tools and guidance. That's why we recommend Bitaroo for your first Bitcoin purchase.
Bitaroo stands out for its commitment to ease of use, fast and easy funding options, automation features, competitive fees, and premium customer support through Skippy. Bitaroo is also Australia's biggest Bitcoin-only exchange. That makes it an ideal platform for both beginners and seasoned Bitcoiners.
Embarking on your Bitcoin journey with Bitaroo means you're not just investing; you're also getting a comprehensive, user-friendly, and supportive experience.
Some of the features that make Bitaroo a top choice for starting your Bitcoin journey:
| User-Friendly Interface | Bitaroo is easy to use. It has been designed with beginners in mind, offering a simple, intuitive interface that anyone can navigate with ease. |
| Easy to Fund | Bitaroo supports real-time deposits and withdrawals. The platform supports OSKO/PayID/NPP for real-time AUD deposits and withdrawals, streamlining the funding process. |
| Automated Options | Bitaroo enables you to set up automated recurring purchases and withdrawals, simplifying your investment strategy. |
| Ultra-Low Fees | Bitaroo offers very competitive fees for purchasing your Bitcoin. Their fees are some of the lowest fees in the market, ranging from 0.19% to -0.03%, making your transactions more cost-effective. |
| Skippy Premium Service | Skippy provides a premium service where you can call, text, or meet a Skippy Expert for help with onboarding, buying Bitcoin, withdrawing, and more. |
UTXO Dreams has no affiliation with Bitaroo - we like their "Bitcoin-only" focus and believe they're a great place to stack sats in Australia.
Step-by-Step Process
1. Account Creation
The first thing we need to do is create an account on the Bitaroo website.
2. Login
You'll next be required to log in using the credentials you set up during the sign-up process.
3. Verify Your Name
Next, verify your identity - starting with your complete legal name.
4. Address Verification
Now verify your physical address - ensuring it's the address that matches your official identification.
5. Identity Verification
Now it's time to provide details from an official government-issued identification - either your drivers license or passport.
Your account is now fully setup and identification verified.
6. Make A Deposit
In order to purchase Bitcoin, you need to fund your account. Bitaroo provides a range of options for transferring funds from your Australian bank account into your Bitaroo account. We recommend PayID due to the speed of transfers - providing nearly instant availability of your funds. Regardless of the method you choose, be sure to verify the Pay ID, BSB and Account Numbers provided by Bitaroo. to ensure you send your funds to the right place.
7. Buy Bitcoin
After your funds have arrived in your Bitaroo account, you are ready to make your first purchase. In the Bitaroo platform, locate the section for buying Bitcoin. Click "Buy" and you will be provided with a pop up screen to enter the amount you wish to purchase. Click "Buy Once" for now, we will cover recurring purchases later.- Specify the amount of AUD you want to spend. The platform will display the corresponding amount of Bitcoin.
- If you want to see the amount in Satoshis instead, click "Sats View". Remember each Bitcoin has 100,000,000 Satoshis. Satoshis are the smallest unit of a Bitcoin - like cents to the dollar.
8. Check Your Holdings
After the purchase, return to your account overview. You will see the amount of Bitcoin you’ve purchased and its current value in AUD.
Congratulations you have now made your first Bitcoin purchase and you are the proud owner of the strongest, most secure and pristine money ever created.
Remember, when purchasing Bitcoin it's a long term investment. Do not purchase Bitcoin unless you plan on holding it for at least 4 years. Bitcoin experiences price volatility, but over the long run it has proven to be an incredible store of value and investment.
