People want to purchase Reddcoin because of the current predictions for this cryptocurrency. Also, many people are looking at expanding their portfolio with other cryptocurrencies that may not be as popular compared to Bitcoin and Ethereum. However, this can be hard for those outside of the US because there may not be as many trusted trading platforms available.
Luckily, this post will break down some of the best trading platforms that Australians can use to buy Reddcoin today.
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Best Exchanges to Buy Reddcoin in Australia
Changelly
Changelly has been around since 2015 and is still going strong because of its specific features and capabilities. Originating from Hong Kong, this platform is used by many to gather the cryptocurrencies that they need, but the program does not accept fiat currency. Instead, users will need to use their bank cards to purchase cryptocurrencies that Changelly accepts and buy Reddcoin.
How to Buy Reddcoin Using Changelly
There are only a few steps that need to be taken for people to buy Reddcoin with Changelly.
Step 1 – Go to the Website
The user will need to go to the website and click the ‘Sign Up’ button. This will open the registration page, and the company will ask for some basic information about the investor. They will need to provide their full name, email address, and the country they are from. Once this is completed, the form can be submitted, and the investor will need to wait for the verification email.
Step 2 – Verification
A verification email should come through quite quickly, and when it does, the investor will need to click on a link to take them back to the website. This is when they will need to make a strong password to keep their account secure. Afterward, the account has been completed, and the user can deposit into their account.
Step 3 – Made a Deposit
The user will be able to deposit into their account to begin purchasing Reddcoin. Go to the ‘Wallet’ page and click the ‘Deposit’ button to choose which cryptocurrency to add to the wallet. If the user does not have any cryptocurrency to buy Reddcoin with, they can click on the ‘Buy Crypto’ button and purchase some with their bank card.
Right now, Changelly does not allow investors to make any purchases with fiat currency.
Step 4 – Buy Reddcoin
Once the purchase of the cryptocurrency has gone into the account, the user will be able to purchase Reddcoin from the system. They need to search for it in the search bar, and it will come up.
Changelly Pros
- The platform is user-friendly, which is perfect for experienced and new traders
- When it comes to fees, Changelly has a lower fee compared to other cryptocurrency platforms
- There are over 150+ supported cryptocurrencies
Changelly Cons
- Calculating the final transaction price can be difficult because Changelly uses a floating exchange rate
- Other programs have better transaction rates
- It is not ideal for those who like using their fiat currency
Binance
Binance is one of the biggest cryptocurrency exchange platforms on the market. It was originally based in Hong Kong, but it moved to Malta a few years ago. It now has its coin, Binance Coin, and users can use it to trade cryptocurrencies and pay their fees.
How to Buy Reddcoin Using Binance
Registering with Binance to purchase Reddcoin is not very hard to do, but it can be taxing for those who are not Australian citizens. This is because of the strict registration policies that Binance has.
Step 1 – Register
Users will need to go to the website and click on the ‘Register’ button. They will need to input their email, password, and referral ID if they have one. After this is completed, the user will need to click ‘Create Account’ and wait for the verification email. Alternatively, they can also use their phone number to sign up for an account.
Step 2 – Verification
The investor will need to slide a puzzle piece to complete the picture before sending the verification email or text. Once this is done, they will have only 30 minutes to enter the verification code sent to them. After this is complete, the user will be able to finish their verification process.
Binance will want to know the investor’s country of residence, so it will ask for a picture of a passport and another photo ID that matches the investor’s country. This can be tricky for those who are not citizens of Australia but have immigrated there. They will need to provide additional information to prove that they live in Australia.
Step 3 – Deposit Funds
After the verification process is completed, the investor will be able to deposit their money. This can be done by depositing money through a credit card or other cryptocurrencies. Also, what is nice about Binance is that there is no minimum deposit required to have the account – which is why many people use it.
Step 4 – Buy Reddcoin
The investor will need to search for Reddcoin either on the website or the Binance app to make a purchase. They will be able to either buy the coin when another user is selling theirs at a certain price, or they can buy one right away.
Binance Pros
- It has low non-instant and instant buy fees
- There is a huge selection of cryptocurrencies
- Multiple services are available
Binance Cons
- Verification can be tricky and time-consuming
- It is not available in the US
- The corporate structure is not transparent
Coinbase
Many people may not know this, but Coinbase has finally extended its services to Australia. Coinbase is one of the leading digital currency platforms and wallets where sellers and buyers can purchase various cryptocurrencies. However, it was not available in Australia for many years, until now!
How to Buy Reddcoin Using Coinbase
Unlike Binance, Coinbase is a lot easier to get an account set up, and the verification process is a lot smoother. It will only take a few steps to get that account ready.
Step 1 – Create an Account
The first step is to create an account. Go to the website or the mobile app and click ‘Get Started.’ Then, the user will need to provide the following information: their full name, email address, password, and where they live. Once this is done, they can click ‘Create Account’ and wait for the verification email.
Step 2 – Verification
When the email shows up, click the link in the email, and it will bring the user back to the website. Afterward, Coinbase will prompt users to add their phone numbers and wait for a verification text to be sent. This goes with the company’s complete two-step verification process. When the verification code comes through, plug the seven-digit into the website and click ‘Submit.’
Step 3 – Personal Information
After completing the verification process, the user will need to add their personal information and have a valid government-issued photo ID that supports this. The information that they need to provide is their full name, date of birth, and address. A few questions also need to be answered before the personal information stage is completed.
Also, another email will be sent after this process is completed. When this email comes through, the user can log into their account again and complete the account process thoroughly.
Step 4 – Link Payment Method
Coinbase only allows Australians to use their debit card to make purchases within the platform. This does mean that the account does not need any pre-funding because they can place an order right away without any lagging. To do this, go to the ‘Payment Methods Page,’ and add a payment. Choose the ‘Debit Card’ option and enter the card information.
The address for the card needs to match the billing address for the card. Afterward, Coinbase will make two temporary authorizations to the card, which the investor will need to complete to set up their card with Coinbase. They will need to go to their bank account and find the test transaction because there will be a four-digit verification code there that needs to be added to the Coinbase website.
Once this is done, the card will be added to the account.
Step 5 – Buy Reddcoin
After the debit card has been added to the account, the investor will be able to purchase Reddcoin easily with either the app or the website. They need to put the name in the search bar, and it will come up. Coinbase will only allow the user to purchase the coin at that price, but they can add in the amount of money they want to spend, so if they only wish to part of the coin, they only need to put in a part of the money.
Coinbase Pros
- There are nearly 100 cryptocurrencies available to choose from
- The funding for the account is barely anything
- All cryptocurrencies are insured in case the website is hacked
Coinbase Cons
- It does have higher fees compared to other cryptocurrency exchanges
Conclusion
When buying Reddcoin in Australia, there are many options for investors. Also, all of the exchange platforms that have been mentioned on this list are all trustworthy and legitimate. With some of the best security systems, investors know that their cryptocurrencies will be safe while using these platforms.
Also, every investor should only invest the amount of money they can afford to lose. This is because the cryptocurrency market is extremely volatile, and many people may lose money if they are not careful. Instead, follow the tips of the best cryptocurrency investors and conduct your research. This is because this should not be just a decision that an online trend has influenced. It should have been made with thought and care.
AllIn1Bitcoins works diligently to offer impartial and trustworthy data on cryptocurrency, finance, trading, and stocks. Nonetheless, we are unable to furnish financial counsel and encourage users to undertake their own inquiries and due diligence.
