How does Bitcoin work ?

Bitcoins are completely virtual coins designed to be 'self-contained' for their value, with no need for banks to move and store the money. Once you own bitcoins, they behave like physical gold coins: they possess value and trade just as if they were nuggets of gold in your pocket. You can use your bitcoins to purchase goods and services online, or you can tuck them away and hope that their value increases over the years.

Bitcoins are traded from one personal 'wallet' to another. A wallet is a small personal database that you store on your computer drive (i.e cold storage), on your smartphone, on your tablet, or somewhere in the cloud (hot storage).

For all intents, bitcoins are forgery-resistant. It is so computationally-intensive to create a bitcoin, it isn't financially worth it for counterfeiters to manipulate the system.

List of Australian Cryptocurrency Exchanges (AUD)

Full list of Australian bitcoin and other alt coin exchanges which trade in Australian Dollars (AUD)

CoinSpot

CoinSpot is one of Australia’s leading exchanges with the largest selection of blockchain assets of any Australian exchange

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Independent Reserve

IR is a Sydney based digital Currency exchange, providing a secure and trustworthy place for customers to buy and sell Bitcoin and Ethereum

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CoinJar

Coinjar is a Melbourne-founded startup that allows Australians to trade, store, spend and receive bitcoin and are trustworthy

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CoinBase

Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies

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