June 10, 2017
My initial experimental foray – in 2014 – was through ANXPRO – detailed here. At that time ANXPRO had a system to transfer AUD from your Australian bank account. ANXPRO no longer allows AUD to be transferred to Hong Kong. It also doesn’t pay out back into your Australian account. It only pays out in HK dollars in cash! Not a good idea if one wants to convert one’s bitcoins to cash.
HENCE one has to buy either through bank transfer or through credit card. I don’t like hard cash buying options which leave no record of the purchase (I want to maintain a full record, for any future capital gains purposes).
I HAVE USED THE FOLLOWING RECENTLY
COINBASE – this is an American company. It requires you to upload ID (drivers licence) and then one can buy using credit card for UP TO $300 AUD per week. Since Australians can no longer create an account with ANXPRO, having a coinbase account is good since it allows for creation of a “wallet”. Having a wallet is ESSENTIAL unless one has the technical savvy to download the entire blockchain on one’s computer and create one’s own wallet (not recommended for small time users like me).
I purchased $300 worth of Litecoin and was able to successfully transfer them to my ANXPRO wallet. Details here. You don’t need to transfer the money, since Coinbase itself provides a wallet.
BITTRADEAUSTRALIA: This DOES NOT have a wallet, but allows to purchase through bank accounts at 5 per cent commission (a thing called POLI – which requires linking one of the many permissible bank accounts to BittradeAustralia).
I was able to purchase $100 worth of Bitcoin and transfer to my ANXPRO wallet. Details here.
COINMAMA: I’m now trying Coinmama. It takes a few days to register your account, so I think it is a good idea to register with multiple companies, and buy from the one that gives the best deal.
OTHER EXCHANGES TO REGISTER WITH
LONG TERM STORAGE OPTIONS
Everyone seems to recommend NOT to store the coins on exchanges (e.g. ANXPRO/ Coinbase), given the risk of people breaking into them or the exchange going bust or stealing the money.
People say that one could use the following longer term options:
- Mobile phone: Using mobile apps such as Mycelium (Android) or Xapo (iPhone). These store the private keys to your funds on your phone. Most wallets use scannable QR codes to send and receive.
- Computer hard disk: Bitcoin Core. This is hugely problematic and complicated. I DO NOT RECOMMEND IT for amateurs like myself.
- Hardware wallet: Such as Trezor.
Buying Bitcoin in Australia
Getting started with bitcoin in Australia
June 10, 2017
Step 2: Is it a local problem? Try a separate laptop/computer/ mobile phone. SBP is down from my end using all mechanisms. It is therefore not a local firewall on my computer that is causing the issue.
Step 3: Is it visible in some countries but not in others? Check APM Cloud monitor: https://asm.ca.com/en/ping.php
it could be possible that … website is accessible in certain part of the world. There is a web service available which tells us about whether a site is accessible in different cities of the world: APM Cloud monitor (Link). You should report to your hosting provider to sort it out. [Source]
In my case SBP etc. websites were losing packets across most parts of the world. Hence a problem that needs to be fixed by the hosting company.
Dreamhost support said: “Loads fine to me, probably your IP has been blocked, to unblock your IP please login to the client area at client.downtownhost.com, then go to Support (On the light blue menu) -> Unblock IP. In that way you can unblock your IP by yourself.”
That WAS the problem, after unblocking things are fine. I have no clue why this blocking occurred.
June 8, 2017
ANXPRO (located in Hong Kong) allowed transfer of AUDs in the past. That’s when I sent $200 to the exchange. It no longer takes AUDs. It also doesn’t transfer AUDs to any place, therefore I’ve now got $10 out of the $200 which is permanently frozen and can’t be withdrawn.
Coinbase allows purchase of cryptocurrency via credit card, but it has a limit of $300 each week.
I purchased $300 worth of Litecoin (LTC) recently.
I thereafter transferred from Coinbase to ANXPRO. This is how I did it:
- Go to ANXPRO and click on any cryptocurrency and it will take you to “Funds management”.
- Choose LTC under “Digital Assets”. It will give a QR code or a longish code at the bottom.
- Copy the code
- Go to Coinbase and click “Send/Request”
- Choose “LTC wallet” and enter the amount (ensure there is enough for the commission – which is a tiny amount)
- Fill in the details and enter the ANXPRO code that had been copied.
- click “Send funds”
Coinbase immediately sent me an email.
ANXPRO sent me an email 8 minutes later saying “An unconfirmed deposit for xx LTC was received. It will be processed once 6 confirmations are received on the blockchain.”
It took around 20 minutes for the amount to show up in my ANXPRO account.