How To Buy Ethereum (ETH) With a Credit or Debit Card in Australia

Now that you’ve decided to take the next step in your crypto journey by choosing to buy ethereum, it’s time to learn more about how to engage with the cryptocurrency ecosystem and what you’ll find when you get there. 

Crypto regulations differ from country to country, and can even vary between different states within the same country. Let’s begin with a brief overview of how cryptocurrency is viewed in Australia. We’ll additionally review some of the instruments available to those of you joining us from down under.

What You Should Know Before Buying Crypto in Australia

While laws and regulations around buying and selling cryptocurrency have generally been favorable toward the industry, there has been a growing call among market participants for elected officials to make a more concerted effort to protect users against bad actors and profiteering schemes. 

Following what some are heralding as another crypto winter, Australia has pledged to reexamine its more laissez-faire approach to cryptocurrency by 2025. Pending the results of a series of internal audits and verification processes, Australia is identifying structural weaknesses in the overall digital asset framework and assessing guardrails to enhance the safety of ecosystem participants.

Despite various challenges, Australia remains optimistic about the future of crypto for users and institutions of all kinds. Currently, Australian users have access to CEX.IO’s complete suite of services. CEX.IO, with over 15 million global users, is recognized as one of the most trusted crypto exchanges in operation. 

Now that you know a little more about the regulatory landscape crypto users are made to navigate, it's almost time to take the next step and learn how to buy Ethereum in Australia. Read along as we explore Ethereum and its role in advancing blockchain's potential.

What Is Ethereum (ETH)?

After Bitcoin (BTC), Ethereum (ETH) is the second-largest digital asset in the crypto ecosystem. While Bitcoin's blockchain showed the benefits of decentralized finance, Ethereum expanded on this by offering its blockchain as a platform for developers to build decentralized applications (dApps) and create new cryptocurrencies. This is largely thanks to Ethereum's support for smart contracts.

Smart contracts existed before the crypto era, but their integration into blockchain technology has revolutionized finance and potentially the entire internet experience. While this may sound exaggerated, smart contracts are key to making decentralized finance (DeFi) appealing to a new generation of developers.

More About Ethereum Smart Contracts

Computer scientist, legal scholar, and famed cryptographer Nick Szabo coined the term smart contracts and compared their functionality to that of a vending machine. Where a vending machine has a clear set of rules dictating how it will respond to certain actions and inputs, so do smart contracts. While this example works to reinforce the financial use cases for smart contracts, in reality, they can be applied to any interlocking data set or system that requires ongoing attention. In other words, smart contracts allow developers to deploy blockchain’s ledger capabilities with precision-grade accuracy across a growing number of projects, communities, and services.

To bring it full circle: Ethereum is building a massive dApp platform. Internally described as a “world computer,” this vision for a decentralized platform distributed and run across the nodes of the network. It prompts new visions of a future decoupled from the corporations, governments, and gatekeepers that currently dictate our online interactions. By embracing a world without these central authorities, there’s no telling what new forms of communication, creativity, and commerce could emerge to accommodate this new social arrangement. Since its launch in 2015, Ethereum has had several hard forks and spawned dozens of altcoins and tokens native to an ever-growing cadre of dApps and emerging networks.

How To Buy Ethereum With a Credit Card

Now that you have a better understanding of what Ethereum is and how it fits into the broader cryptocurrency ecosystem, it’s finally time to talk about how to buy some. Buying Ethereum with a credit card is one of the easiest ways to kickstart your crypto journey. Thankfully, due to years of partnerships and growing integration with the established financial system, crypto enthusiasts enjoy a suite of payment instruments when it comes to buying or selling crypto. 

Find a Reliable Crypto Exchange

The first step to buying crypto is to find a reputable exchange, like CEX.IO, then create an account, and get verified. Once you’ve completed all the required steps in the Know Your Customer, or KYC process, you can save preferred payment methods to your account for later use across our products and services. By achieving PCI DSS compliance in 2014 and continuing to remain in good standing, CEX.IO was at the forefront of building and maintaining amicable relationships with third-party payment providers such as Visa and Mastercard. At the same time, we’re continuing to explore new ways to make the ecosystem a more equitable and inclusive environment for all market participants.

Additionally, CEX.IO users have several other ways to buy crypto using a credit card by utilizing Apple Pay, Google Pay, or PayPal to store their card information. All three services integrate seamlessly with CEX.IO’s products on both mobile and desktop platforms, allowing you to choose the most convenient payment method for your financial needs. Additionally, a personal risk assessment is essential before engaging in the crypto ecosystem. Even a quick diagnostic can reveal how much you can afford to lose should the markets not trend in your favor. In a high-risk environment, only you can set your own boundaries.

How To Buy Ethereum With a Debit Card

Similar to buying Ethereum with a credit card, CEX.IO allows you to store debit card information in your account to later access our products and services. Plus, debit card users still have the luxury of using Apple Pay, Google Pay, and PayPal services, since those providers also integrate with most debit card providers. However, you must still have an active and verified account on a trusted exchange like CEX.IO before you can use a debit card to purchase crypto. But remember – whether you’re paying with a credit or debit card, always use sound judgment when making purchases or conducting financial transactions in the crypto ecosystem.

Where To Buy Ethereum in Australia

In Australia, users can access the cryptocurrency ecosystem from various exchanges following the current regulatory framework. However, it's crucial to understand what makes an exchange reputable before choosing one.

Robust exchanges typically offer a wide range of products and services to ensure a secure and comprehensive crypto experience. They comply with regional and global financial regulations, securing necessary licenses to operate legally. These exchanges also partner with trusted companies to enhance their services and collaborate with credit providers like Visa and Mastercard.

CEX.IO exemplifies these qualities through its ongoing compliance and partnerships, making it a reliable choice for users. With a stable internet connection, CEX.IO enables you to buy, sell, and manage your crypto portfolio anytime and anywhere. Australian users can access CEX.IO’s full suite of products and services and explore a wide range of coins and tokens to learn about, hold, and trade.

Step-by-Step Guide on How To Buy Ethereum in Australia Using CEX.IO

Now that you’re ready to buy Ethereum, make sure you’ve set up your payment method. Crypto prices change quickly, so having your payment methods registered can help you avoid missing out on current prices.

Connect your credit/debit cards and bank routing numbers to your CEX.IO account to purchase crypto easily from a web browser or mobile device. The same applies to Apple Pay, Google Pay, and PayPal. Setting these up in advance ensures they are available as payment methods in your CEX.IO account.

How To Buy Ethereum Using CEX.IO From a Desktop Browser Window

OK, now that you have your payment methods registered to complete transactions on CEX.IO, here’s how to buy crypto from a desktop web browser:

1. Login to your CEX.IO account.
2. Click the dropdown menu on the upper left, and choose Instant Buy from the center column.
3. Click on BTC to open the list of available digital assets. Scroll through the list until you see ETH, then click on ETH.
4. Select the amount of ETH you wish to purchase or enter the custom amount in the last box.
5. Once you’re satisfied with the amount, click Buy to proceed with the transaction.
6. Select the preferred payment method (credit/debit card, Google Pay/Apple Pay).
7. Double-check the pricing and click the box to confirm you understand the terms and conditions of the transaction.
8. When you’re all set, click Proceed to confirm the transaction.

Congratulations – now you know how to buy ETH! In addition to owning your very own crypto, your knowledge of the CEX.IO platform puts the whole ecosystem at your fingertips. Please note that you can follow these steps to buy bitcoin, or any other digital asset currently listed on the exchange, and continue to grow your portfolio.

How To Buy Ethereum Using the CEX.IO App

Now that you know how to buy Ethereum using CEX.IO on a desktop, let’s explore using the CEX.IO app to do the same. Remember, making sure your payment methods are registered and ready to go is paramount to remaining in control when you choose to purchase crypto.

Learn how to buy crypto using the CEX.IO App:

1. Open the CEX.IO App, log into your account, and complete the two-factor authentication. New customers can register an account to start their crypto journey. 
2. Tap BTC in the upper left of the Buy Crypto widget to choose the digital asset you wish to purchase.
3. Scroll or search for Ethereum, then click on it.
4. Type in the amount of Ethereum you wish to buy or choose one of the ready-to-buy boxes. Click Buy now to confirm your choice. 
5. Select the payment method you would like to use to complete the transaction, then click Proceed at the bottom of the screen.
6. On the next screen, confirm the transaction by clicking the side button of your device.

Now you know how to purchase crypto on both CEX.IO desktop services and mobile app. Please note that if you wish to buy any other digital asset, you can repeat the above steps and simply select a different crypto.

Thank you for taking the time to learn more about the ecosystem, and expand your crypto toolkit.