CoinSpot Blog
Buy Bitcoin Australia using Cash Deposit
23rd December 2014, by RussellBuy Bitcoins in Australia through a cash deposit at your local Westpac branch. CoinSpot makes it possible for you to purchase bitcoins via a cash deposit with only an Australian mobile phone number for verification. It is the easiest and fastest way to top up the balance in your CoinSpot account with the deposits usually clearing and becoming available in your CoinSpot account within a few hours.
To buy bitcoins by depositing cash at the bank you first need to tell CoinSpot how much you are going to deposit by creating a deposit slip on CoinSpot which you can do by clicking the “Deposit” button from your CoinSpot dashboard. When filling in the deposit slip you specify how much you would like to deposit, with a maximum of $5,000 per day, and you will be provided with the bank account details and importantly the customer reference number to complete the deposit. The deposit slip created on CoinSpot will contain all the information necessary for you to head down to the local Westpac branch and complete the deposit. It is very important to add the reference number to the deposit slip at the Westpac branch as if this is not added we can’t match the deposit back to your account and it will take a lot longer for the funds to clear in your CoinSpot account. As long as the deposit slip is filled in with the correct bank account and reference number at the branch the funds will usually clear in your CoinSpot account within a few hours.
After depositing your funds you will receive an email from CoinSpot when the funds are available in your CoinSpot account. You can then go into the bitcoin trading market and place a buy order for any amount of Bitcoin. If there isn’t enough open sell orders to fill your order don’t worry place the buy order and it won’t be long until the sellers jump on to fill your order.
Hope this guide is useful and helps you understand how to buy bitcoins from CoinSpot GST free using a cash deposit. If you have any further questions or feedback don’t hesitate to contact us.
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