Due to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 a full identity check is required to be able to deposit or withdraw AUD from CoinSpot. Please note, you may receive a call from one of our team members to confirm the details on the account before it is verified

Steps to Verify your CoinSpot account:

1. Click on the ‘Account‘ page.

   

2. Then select the ‘Verification‘ page.

   

3. Verify your email address, your mobile phone number and then enter in your account holder details.
4. Select the CoinSpot account type.

   

5. You must upload the front and back of one or more of the following documents:
   
6. If you did not upload a drivers licence, then you need to upload one of the below documents:
   
7. Also upload a proof of residency document.

   

8. Take a high quality photo of yourself holding the hand written statement, see below example’s:

   NOTE: We need to be able to see your hands in the verification photo

   

9. Then press submit for verification.
10. The account holder details must show a yellow banner stating “In Progress” this means your verification details are under review.

    

Once you have successfully submitted the photos required for verification and the residency document, our verification team will review your submission and contact you via phone to ensure your identity.

You will either receive a call or an email once you have been verified.

The post How to Verify Your Identity on CoinSpot appeared first on Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia.

Why are you reading this?

• You’ve read all the news stories about the success of Bitcoin and how Bitcoin has hit recent highs of $US8,000, $US9,000 and now $US10,000
• You’re Australian and can’t figure out how to buy TRON/Tronix, or just haven’t started yet

What is Tronix?

Tronix (TRON) is a blockchain technology which started more recently in the crypto-currency era, which uses peer-to-peer networking technology (like BitTorrent) to create a network of nodes which synchronise every transaction on the network. Transactions between “accounts” are recorded on the blockchain, which keeps record of every single transaction on the network, on every single node – this means that transactions are highly secure, and cannot be reversed. This high security is provided by a process called “mining”, which requires the transactions to be “hashed”, a process of computing large amounts of random jibberish to a certain specification (let’s call if difficulty) such that when the specification is met, transactions which are used to compute that jibberish, are committed to the network and through a process of synchronising and voting, are rendered permanent. What makes Tronix more appealing is it’s focus on ‘fixing the internet’, and it’s real world use in existing markets like the OBike bike hire app.

How to Buy TRON in Australia with CoinSpot

CoinSpot is one of the best websites for Australians to get started with buying and selling TRON, Litecoin, Bitcoin, Ethereum and all sorts of other cryptocurrency; the process is quite simple too.

1. Signup to CoinSpot
2. Verify your identity (most sites require a copy of your drivers license / passport)
3. Buy TRON by securely transferring funds instantly with your bank account (using Polipay, a service which appears to be created by Australia Post)

Simple!

TRON Security

What’s different with crypto-currency, is that you are even more responsible for securing your new found money. If your CoinSpot account is hacked, it’s easy for someone to send the TRON in your account to their own account, and at that point, it’s gone forever.

You MUST secure your account, your computer, and any other devices you use to login!

• Add Two-Factor Authentication to your account – CoinSpot uses the Google Authenticator to verify that it’s you; if you’re prone to losing your phone, you need to be a little bit more responsible…
• Never disclose your wallet/account addresses to anyone on social media – if someone has your address, they can easily query the balance of your account, and target you
• Once you have funds in your CoinSpot account, transfer them to a new account which is not held on CoinSpot or any web based account!
• Better yet, invest in a hardware wallet such as the Trezor Wallet or Ledger Wallet Nano S

Great, now what?

Now you do whatever you want to do with your TRON. Watch the price soar, hoping it will net you millions of dollars. The beautiful thing about CoinSpot, is that Australians can easily buy and sell TRON and transfer it to other parties with ease. You can quickly and easily just buy TRON on Coinspot.

Relevant TRON Links

•  Exchanges
  • CoinSpot – quickest and easiest site to buy and sell TRON, Ethereum and Bitcoin
• Books
  • Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World ($15.40 on Amazon)
  • Ethereum: Blockchains, Digital Assets, Smart Contracts, Decentralized Autonomous Organizations ($17.20 on Amazon)
• Australian Crypto Currency community that runs a Slack channel and provides a number of great guides and blog posts
• Living Room of Satoshi – pay any bill in Australia!
• Hardware Wallets
  • Ledger Wallet Nano S
  • Trezor Wallet

The post GUEST BLOG: Getting Started – Australia Edition – Buy & Sell Tronix TRX appeared first on Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia.

How to Buy and Sell Bitcoin in Australia with Coinspot

Why are you reading this?

• You’ve read all the news stories about the success of Bitcoin and how Bitcoin has hit recent highs of $US8,000, $US9,000 and now $US10,000
• You’re Australian and can’t figure out how to buy Bitcoin, or just haven’t started yet

What is Bitcoin?

Bitcoin is the original blockchain technology which started the crypto-currency era, which uses peer-to-peer networking technology (like BitTorrent) to create a network of nodes which synchronise every transaction on the network. Transactions between “accounts” are recorded on the blockchain, which keeps record of every single transaction on the network, on every single node – this means that transactions are highly secure, and cannot be reversed. This high security is provided by a process called “mining”, which requires the transactions to be “hashed”, a process of computing large amounts of random jibberish to a certain specification (let’s call if difficulty) such that when the specification is met, transactions which are used to compute that jibberish, are committed to the network and through a process of synchronising and voting, are rendered permanent.

Why is Getting Started with Cryptocurrencies so hard?!

Good question. The financial world is full of regulation. As Bitcoin is a digital currency, you can’t just go to the bank and exchange your money. To buy Bitcoin, you need to have an account with an intermediary, who will take your “real” money in the form of AUD or USD, and exchange this for BTC (bitcoin) or any other of a whole long list of cryptocurrencies. The problem for Australian’s, is we have limited choices here; there’s only a small handful of services which allow you to purchase Bitcoin, and even fewer which allow Australian’s to sell it!

How to Buy Bitcoins in Australia with CoinSpot

CoinSpot is one of the best websites for Australians to get started with buying and selling Bitcoin, Ethereum and all sorts of other cryptocurrency; the process is quite simple too.

1. Signup to CoinSpot
2. Verify your identity (most sites require a copy of your drivers license / passport)
3. Buy Bitcoin by securely transferring funds instantly with your bank account (using Polipay, a service which appears to be created by Australia Post)

Simple!

EDIT: Since sharing this post, I’ve been pointed to a few other exchanges which support buying/selling for Australian users; these are listed at the bottom of the post.

Bitcoin Security

What’s different with crypto-currency, is that you are even more responsible for securing your new found money. If your CoinSpot account is hacked, it’s easy for someone to send the Bitcoin in your account to their own account, and at that point, it’s gone forever.

You MUST secure your account, your computer, and any other devices you use to login!

• Add Two-Factor Authentication to your account – CoinSpot uses the Google Authenticator to verify that it’s you; if you’re prone to losing your phone, you need to be a little bit more responsible…
• Never disclose your wallet/account addresses to anyone on social media – if someone has your address, they can easily query the balance of your account, and target you
• Once you have funds in your CoinSpot account, transfer them to a new account which is not held on CoinSpot or any web based account!

Great, now what?

Now you do whatever you want to do with your Bitcoin. Watch the price soar, hoping it will net you millions of dollars, or write some DAPPs. The beautiful thing about CoinSpot, is that Australians can easily buy and sell Bitcoin and transfer it to other parties with ease. Want to pay your bills with Bitcoin? Just buy some Bitcoin on Coinspot, and use Living Room of Satoshi to pay any bill in Australia!

If this guide has helped you at all, feel free to send any amount of Bitcoin to 16LqsShf4r9N3bdNKvLMAQN7k4V1L9s7xQ

Relevant Bitcoin Links

•  Exchanges
  • CoinSpot – quickest and easiest site to buy and sell Ethereum and Bitcoin
  • BTCMarkets – this site also lets you buy/sell Ethereum with AUD
  • CoinBase – Coinbase doesn’t currently allow selling for Australian accounts, but you can now buy Bitcoins, Bitcoin Cash and Ethereum from Coinbase
  • Independent Reserve
• Books
  • Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World ($20.40 on Amazon)
  • Ethereum: Blockchains, Digital Assets, Smart Contracts, Decentralized Autonomous Organizations ($19.00 on Amazon)
• Australian Crypto Currency community that runs a Slack channel and provides a number of great guides and blog posts
• Living Room of Satoshi – pay any bill in Australia!
• Where to buy/use Bitcoin in Australia

The post GUEST BLOG: How to Buy and Sell Bitcoin in Australia with Coinspot appeared first on Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia.

How to Buy Ethereum in Australia with Coinspot

Ethereum is the new Bitcoin, if you choose to believe it. I was recently introduced to Ethereum when I was browsing the Microsoft Azure service catalog and came across their blockchain simulation service, which allows you to spin up a test network to deploy Distributed Applications (DAPP’s) onto an isolated Ethereum blockchain network. Pretty cool stuff in itself, and not today’s subject!

Why are you reading this?

• You’ve read all the news stories about the success of Ethereum and how Ethereum is nearing $200USD
• You’re Australian and can’t figure out how to buy Ethereum

What is Ethereum?

Ethereum is a blockchain technology, which uses peer-to-peer networking technology (like BitTorrent) to create a network of nodes which synchronise every transaction on the network. Transactions between “accounts” are recorded on the blockchain, which keeps record of every single transaction on the network, on every single node – this means that transactions are highly secure, and cannot be reversed. This high security is provided by a process called “mining”, which requires the transactions to be “hashed”, a process of computing large amounts of random jibberish to a certain specification (let’s call if difficulty) such that when the specification is met, transactions which are used to compute that jibberish, are committed to the network and through a process of synchronising and voting, are rendered permanent.

What makes Ethereum miles different to BitCoin, is the addition of distributed application technology; allowing developers to write “contracts” which can be used to represent simple things like voting in an election, or creating a shareholder registry backed by Ethereum currency (which in itself has spawned a number of “ICO”‘s; initial coin offerings; the equivelant of an IPO).

Why is Getting Started with Crypto-Currency so hard?!

Good question. The financial world is full of regulation. As Ethereum is a digital currency, you can’t just go to the bank and exchange your money. To buy Ethereum, you need to have an account with an intermediary, who will take your “real” money in the form of AUD or USD, and exchange this for ETH(ereum) or BTC (bitcoin). The problem for Australian’s, is we have limited choices here; there’s only a small handful of services which allow you to purchase ETH, and even fewer which allow Australian’s to sell it! *** If you know of any, please email me! ***

How to Buy Ethereum in Australia with CoinSpot

CoinSpot is one of the best websites for Australians to get started with buying and selling Bitcoin and Ethereum; the process is quite simple too.

1. Signup to CoinSpot
2. Verify your identity (most sites require a copy of your drivers license / passport)
3. Buy Ethereum or Bitcoin by securely transferring funds instantly with your bank account (using Polipay, a service which appears to be created by Australia Post)

Simple!

EDIT: Since sharing this post, I’ve been pointed to a few other exchanges which support buying/selling for Australian users; these are listed at the bottom of the post.

Ethereum Security

What’s different with crypto-currency, is that you are even more responsible for securing your new found money. If your CoinSpot account is hacked, it’s easy for someone to send the Ethereum/Bitcoin in your account to their own account, and at that point, it’s gone forever.

You MUST secure your account, your computer, and any other devices you use to login!

• Add Two-Factor Authentication to your account – CoinSpot uses the Google Authenticator to verify that it’s you; if you’re prone to losing your phone, you need to be a little bit more responsible…
• Never disclose your wallet/account addresses to anyone on social media – if someone has your address, they can easily query the balance of your account, and target you
• Once you have funds in your CoinSpot account, transfer them to a new account which is not held on CoinSpot or any web based account!

Setting up your own Ethereum Account

This is trickier. You need a physical computer; laptop or otherwise; and about 20GB of free space.

This comes with a disclaimer; you must download the Ethereum wallet from the Ethereum Project website; https://www.ethereum.org – scroll to the bottom and find the download button. You’ll receive this disclaimer which covers off what I said above; it’s no joke.

No joke, you ARE responsible for your own security. If you ignore this warning, you risk losing it all.

Once you’ve downloaded this and installed it, you need to wait for the blockchain to synchronise – the first time you run this, it will execute a “fast sync” which can sync the entire blockchain in under an hour. If you exit before this finishes, it will revert to a full sync, and start at zero all over – this will take a lot longer.

It should look a little something like this:

Ethereum Wallet up and running; here you can add accounts and send Ethereum

Next step, you want to click ADD ACCOUNT. You’ll be prompted for a password – I suggest using 1Password or LastPass to generate a very strong password!

When you create an account, you must specify a password to unlock it to transfer Ethereum. Make sure you keep this secure; if you forget it, you won’t be able to “forget password”

After you confirm your password and heed the warning about backing up your keys, BACK UP YOUR KEYS.

To do this, point to the Accounts menu, then Backup, then Accounts.

Make sure you backup your account somewhere safe; to a USB or Dropbox; if you lose your account keys, they’re gone forever.

Make sure you backup these files to something safe! DropBox, a USB flash drive – whatever it is, if you transfer money to this new account, you MUST have the key on your PC – if your computer is lost, stolen or you have to format the hard drive for whatever reason, you won’t be able to ever get your account back, unless you backed up the keys as directed above.

Transferring Ethereum from CoinSpot to your Account

Simple. Grab the account address by clicking your account in the Ethereum Wallet app, then use the Copy Address button to copy it to your clipboard.

Head to CoinSpot, login etc, and head to your wallet. Open your wallet and you will have an option to Send Ethereum.

Paste your account address in the Recipient field,  select your ETH wallet and how much you want to transfer – click Use Max if you want to transfer the whole lot.

Make sure the address is right!!!! If you muck that up, your moola is GONE.

If you’re happy with it, click Send Funds, and wait for it to show up in your Ethereum Wallet. Done.

Always triple check the amount and payment address; if you haven’t noticed the theme here, no one can reverse your transaction if you muck it up!

Great, now what?

Now you do whatever you want to do with your Ethereum. Watch the price soar, hoping it will net you millions of dollars, or write some DAPPs. The beautiful thing about CoinSpot, is that Australians can finally sell cryptocurrency, so I’ve been quite excited to use it.

If this guide has helped you at all, feel free to send any amount of ETH to 0x5F1928371C40623Ee81BE986C08941D4067b74a9

Relevant Ethereum Links

•  Exchanges
  • CoinSpot – quickest and easiest site to buy and sell Ethereum and Bitcoin
  • BTCMarkets – this site also lets you buy/sell Ethereum with AUD
  • CoinBase – only lets you buy ETH, not sell, for AU accounts. They do have a fantastic mobile app though.
  • Independent Reserve
• Ethereum Project – the Ethereum Project home page, where you can get your Ethereum wallet
• Full Stack NodeJS & Ethereum app tutorial
• Ethereum Price – this is a very simple price output; most of the coin trading sites have a graph as well, but if you just want to know the ETH/USD rate, go here
• /r/ethereum – SubReddit for Ethereum discussion
• Books
  • Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World ($20.40 on Amazon)
  • Ethereum: Blockchains, Digital Assets, Smart Contracts, Decentralized Autonomous Organizations ($19.00 on Amazon)
• Coinspot.Biz is an Australian Crypto Currency community and they run a Slack channel and provide a number of great guides and blog

The post GUEST BLOG: How to Buy Ethereum in Australia with Coinspot appeared first on Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia.