Buy Bitcoin in Australia on CoinJar

Bitcoin

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Overview

#01Popularity
CurrencyAsset type
2009Active since

What is Bitcoin?

Bitcoin is the most famous , and probably always will be. It has the highest market capitalisation, which is another way of saying that more people own Bitcoin than any other cryptocurrency. It was also the to be created, and this happened in 2009.

So who created this “digital gold” that now is becoming a mainstream store of value? Strangely, the creators of Bitcoin, even to this day, remain anonymous.

The cryptocurrency was created by one person or perhaps a group of people who called themselves “Satoshi Nakamoto”. They have not been heard of and it may be a mystery that is never solved.

Bitcoin (also known as BTC) was the first digital asset to be built on a blockchain, which means that every transaction that takes place using BTC is recorded on that blockchain. These transactions can be viewed by the public at any time. While we can’t know who is using the BTC to make these transactions, it is still a public ledger that is viewable by anyone.

Culture

Bitcoin started its life just 13 years ago, but already there is an established culture and lore that keeps media outlets buzzing. Even in the early days, the idea of Bitcoin captivated people.

For example, the first Bitcoin purchase was for pizza. However, this has blown up into “” and is a really fun theme on the internet.

On May 22, 2010, a programmer named Laszlo Hanyecz paid 10,000 Bitcoin for two pizzas, which was worth about US$41 at the time. Today, that Bitcoin would be worth over US$500 million. Keep in mind that the performance of bitcoin can be highly volatile, with the value dropping as quickly as it can rise. Past performance is not a guide to the future.

These days, you can buy a lot of stuff with Bitcoin. Besides pizza, you can use Bitcoin to buy things like travel, gift cards, games, art, and even .

There are also many charities that accept Bitcoin donations.

Other interesting Bitcoin facts

Bitcoin is legal tender in El Salvador. On September 7, 2021, El Salvador became the first country to accept Bitcoin as legal tender, meaning that people can use it to pay taxes, debts, and goods and services. The government also gave every citizen US$30 worth of Bitcoin to encourage adoption.

In other interesting Bitcoin news, Bitcoin has a finite supply of 21 million coins, but not all of them are in circulation. Some of them are totally lost. Sometimes this is due to forgotten passwords, lost wallets, or the death of the owners. According to crypto data firm Chainalysis, around 20% of Bitcoin has been lost or is stuck in wallets that can’t be accessed.

Bitcoin is not only a currency, but also a network of computers that run the Bitcoin software and validate transactions. These computers are called nodes, and anyone can run one. There are tens of thousands of nodes distributed across the world, with the highest concentration in the United States, Germany, and France.

You can actually buy part of a Bitcoin. You can invest in a whole Bitcoin if you want, but you can also just buy a part of a Bitcoin too!

How many Bitcoin exist?

There will only ever be 21 million Bitcoin in circulation, but they have not all been “released” yet. At the time of writing, have been mined so far. When 21 million Bitcoin have been mined, that’s the end of the road for new Bitcoin. It’s still a long way off yet and is predicted to happen in 2140.

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Buy Bitcoin instantly using Visa or Mastercard. Get cash in your account fast with bank transfer, PayID or Osko. Convert crypto-to-crypto with a single click.

How to buy Bitcoin with CoinJar

Start your portfolio with Australia's longest running crypto exchange with these simple steps.
Step oneSign up to CoinJarGet the CoinJar app on iOS or Android, create an account and verify your ID.
Step twoDeposit funds Transfer funds from your bank account using bank transfer, PayID, Osko, SEPA or Faster Payments.
Step threeBuy your first cryptoBuy Bitcoin and more than 60 other cryptos using cash or credit card.
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Frequently asked questions

Can I buy Bitcoin on CoinJar?

CoinJar allows you to buy Bitcoin BTC using Australian dollars (AUD). You don't need to buy BTC directly from the Bitcoin Network.

You can purchase Bitcoin via bank transfer and then store your Bitcoin securely in your CoinJar Bitcoin wallet.

CoinJar has low trading fees for trading Bitcoin, so you can easily buy and sell Bitcoin.

Bitcoin was invented by Satoshi Nakamoto and launched in January 2009 as a peer-to-peer digital currency. Check the price of Bitcoin on CoinJar before you buy as prices can be volatile.

CoinJar does not endorse the content of, and cannot guarantee or verify the safety of any third party websites. Visit these websites at your own risk.

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