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You might have heard about Bitcoin (or even Dogecoin), but there's so much more to cryptocurrency than that. Our guides make learning about cryptocurrency easy – allowing you to buy, trade, hold and earn crypto in less time than it takes to set up a new bank account.
Start investing today with our picks for the best crypto exchanges in Australia or learn more about individual coins and where to buy them. Don't forget to check out our best crypto wallets guide to learn how to keep your crypto safe.
Cryptocurrencies are digital assets that have a value, just like a $10 note is a physical token with 10 dollars of value assigned to it.
The difference is that digital currencies are electronic – they only live on the internet. In order for a cryptocurrency to have value, its coin needs to be unique, verifiable and unreplicable. The Bitcoin blockchain was the innovation that made this possible and was first laid out in the original Bitcoin whitepaper in 2008.
Crucial to crypto is the principle of decentralisation. There is no single authority or business (such as a bank or government) that controls cryptocurrencies. This idea of sovereignty over your assets and removing reliance on any sort of intermediary is something you'll hear about a lot.
Decentralisation also makes crypto a powerful medium of exchange because it can help minimise the costs and processing times of transactions.
Thanks to these innovations, legacy companies like Visa, PayPal and the big four Australian banks have also begun adopting cryptocurrency and blockchain technologies.
The easiest place to buy and sell crypto is via a dedicated crypto exchange and Australians can now choose from a number of established and feature-rich crypto exchanges.
If you're just starting out, look for AUSTRAC-registered exchanges that offer Australian dollar deposits with your preferred payment method. More experienced investors can browse our comparison of advanced crypto trading platforms.
Click the Go to Site button when you're ready to create an account with any of the providers.
Cryptocurrency uses cryptographic technology to secure individual assets on a database called a "blockchain". A blockchain records transactions on a network in a way that cannot be altered.
You can think of a blockchain as hundreds of connected computers sharing information with one another. This builds a ledger of data that can be used to validate that each crypto transaction is legitimate and secure.
Some blockchains use a variation of proof-of-work or proof-of-stake consensus algorithms to execute transactions. Proof of work is where the term "Bitcoin miners" comes from.
Miners operate powerful computers that solve complex mathematical problems, which helps secure the blockchain.
Proof of stake is a bit different. This algorithm uses staking – the process of locking up cryptocurrency on a specified blockchain wallet in exchange for a reward. Staking protocols use "nodes" – small copies of the blockchain being run on thousands of different computers.
Understanding how a crypto's algorithm works in detail isn't essential – or easy – but it can help explain movements in price.
You might be surprised to learn that Bitcoin (BTC) is not the most traded cryptocurrency, although it usually sits in the top 3.
Instead, it's the dominant crypto by market capitalisation – a metric that shows the circulating supply of a coin, multiplied by its value.
Take a look at today's top 10 cryptos by market cap in the chart below.
There are a number of risks associated with buying, storing and using digital currencies. Before jumping in, do plenty of research and make sure you understand how to keep your crypto safe. Some key risks to be aware of include:
Read the Australian government's crypto investment warning for more guidance on keeping your money safe.
If you're just starting out in the world of crypto, it can feel overwhelming. Use our simple guides to research and compare different coins or take a look at our curated list of the best crypto exchanges and wallets to buy and secure your chosen assets.
There are now well over 15,000 cryptocurrencies and tokens, with new coins launching all the time. We've cut through the noise and written guides on how to buy some of the most traded cryptos, like Bitcoin and Ethereum, as well as hundreds of others.
Compare dozens of major Australian and global exchanges on features, fees, selection of cryptos and more in our comprehensive platform reviews.
Hardware, mobile, hot, cold… it's tricky knowing where to start with crypto storage. Our guides explain what's in a wallet to help you find your best options for convenience and security.
For more advanced investors, crypto could be a way to diversify your portfolio. Read our range of trading guides to get your bearings first.
Crypto earning products are still in their infancy right now. Make sure you've got everything you need to make an informed decision.
From staking to smart contracts, our guides demystify DeFi and help you get your head around the new frontier of finance.
Get expert insights and analysis across the crypto sector or use our forecasting tools to help predict where a coin's price might move.
Crypto evolves at breakneck speeds, with new concepts, coins and technologies emerging all the time. Keep on top of the latest trends with our industry news, consumer research and handy tools.
How to withdraw both cash and crypto from the Coinbase exchange.
How to withdraw crypto and money from the Swyftx crypto exchange.
How to withdraw crypto and cash from CoinSpot using our step-by-step guides.
Crypto airdrops let you receive crypto tokens in return for completing certain activities.
What to do if you've been affected by Binance's changes to AUD deposits and withdrawals.
Our expert guide on how to choose the best cryptos to buy right now.
Learn how to get started investing in cryptocurrency, the methods available to you, and what to keep in mind before making your first purchase.
Find out how to hold cryptocurrency in a self managed superannuation fund and what you need to get started.
Compare courses on everything from how blockchains and cryptocurrencies work, to technical analysis and how to successfully trade cryptocurrency.
And no, it's not the money you pay for a small Italian car.
