How to Buy Bitcoin
Never bought Bitcoin before? You’re in the right place.
Buying Bitcoin is easier than you might think. You don’t need to understand cryptocurrency or have any previous experience. Follow these simple steps to buy Bitcoin using Australian dollars, straight from your phone.
What you’ll need
The four simple steps
Download Exodus
Exodus is a free app that lets you buy, store and send Bitcoin. We’ll use it for everything, so you only need one app.
- Open the App Store or Google Play Store on your phone.
- Search for Exodus Crypto Wallet and check that the publisher is Exodus Movement, Inc.
- Download and open the app.
- Follow the instructions to create a new wallet.
Set Your Currency to AUD
Before buying Bitcoin, make sure Exodus is displaying Australian dollars.
- Open the settings in Exodus.
- Find the currency setting.
- Select AUD — Australian Dollar.
This makes it easier to see how much you’re spending.
Buy Bitcoin
Now you’re ready to make your first purchase.
- Open Exodus and select Bitcoin (BTC).
- Tap Buy.
- Enter the amount you want to spend in Australian dollars.
- Review the fees and the amount of Bitcoin you’ll receive.
- Follow the instructions to complete your purchase using your bank card.
You may be asked to verify your identity with a driver’s licence or passport and a selfie. This is a normal part of buying cryptocurrency through a payment provider.
Wait for Your Bitcoin
Once your payment is approved, your Bitcoin will be sent to your Exodus wallet.
It may arrive within a few minutes, but first-time purchases can take longer, particularly if identity verification is required.
When your Bitcoin appears in your wallet balance, you’re finished!
Having Trouble Buying Bitcoin?
My bank card was declined
Some Australian banks restrict cryptocurrency purchases.
First, contact your bank. Ask whether they’ve blocked the transaction and whether they can approve it.
If your bank won’t allow the purchase, you could try Revolut as an alternative. Cryptocurrency purchase restrictions can still apply.
My Bitcoin hasn’t arrived
Don’t worry if your Bitcoin doesn’t appear immediately. Check the status of your purchase in Exodus or with the payment provider. First-time verification and payment processing can sometimes take longer than expected.
If the purchase is marked complete but your Bitcoin hasn’t arrived, contact Exodus or the payment provider using their official support channels.
Is buying Bitcoin safe?
Exodus is a self-custody wallet, which means you’re responsible for protecting access to your cryptocurrency.
Never share your recovery phrase, double-check payment details and only download Exodus from official sources. Bitcoin transactions generally cannot be reversed.