This handy guide will outline how to buy Bitcoin (BTC) but also applies to all our other available cryptocurrency/AUD combinations on our new beta trading platform.
Please note: You will need a fully verified and funded BTC Markets account to use the Simple Trade product. To learn how to deposit funds to your account, please see our how to deposit help article.
1. Navigate to Simple Trade
Sign in to your account and click on the “New experience beta” button in the top nav bar. You will then be taken to the new Dashboard screen. Click the Trade button located in the top right-hand corner. Alternatively, select Simple Trade from the left-hand side menu.
2. Choose your Asset
Select the crypto asset that you want to purchase from the drop-down menu, below the Buy/Sell tabs. Bitcoin is the default asset selected.
Alternatively, search the list of Available assets, or the current 10 most popular assets on the platform on the right-hand side of the Simple Trade screen.
Please note: This trading platform is currently in its Beta phase. We are working on adding more assets available for Simple Trades in the near future. In the meantime, if you are looking to trade assets not currently available on Simple Trade, please complete your trade on the exchange.
3. Enter how much you want to spend
In the Spend input field, enter the amount of AUD you want to spend on purchasing your cryptocurrency.
This amount will be deducted from your Cash available balance upon the completion of your trade.
The Cash available balance shows the total amount of cash in your account available to spend.
Spend all: Instead of entering in a specific amount of money to use when purchasing your assets, the Spend all option enables you to spend all the available cash in your account for the trade.
You’ll be able to preview the approximate amount of cryptocurrency you’re set to receive upon completion of the trade in the You’ll receive box.
This figure is only an estimate at this point because the quote price might change by the time that you progress to review and confirm the trade.
Click the Review buy button to proceed to the final confirmation page.
Please note: There are minimum and maximum trade amounts for the Simple Trade feature.
4. Review and Confirm your Trade
From here you can review the key components of your trade, such as the asset being purchased, the quote price of the asset, how much you are spending and how much of the asset you are set to receive.
If you would like to proceed with your trade, click the Confirm buy button to execute the trade.
Congratulations, you have now completed your first Simple Buy.
Click Trade again to return to the Simple Trade Buy screen, to trade again.
Alternatively click Go to Dashboard, to view your updated crypto/cash holding balances.
Important
Please note that in some cases, an order submission may not automatically result in a successful purchase. If you encounter any issues while completing a trade, please raise a support ticket.