Crypto buying guide

How to buy Crypto or Bitcoin SelfWealth

A guide to buying Digital Assets like Bitcoin and Ethereum with the SelfWealth trading platform in Australia.

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Quick-Take: The SelfWealth trading platform does not currently offer any services for their clients to trade cryptocurrencies like Bitcoin, Ethereum and Solana.

The best way to get access to ASX stocks, US stocks, ETFs and cryptocurrencies all in one platform is through eToro Australia.

Table of Contents

Can I buy Cryptocurrency on SelfWealth?

As at time of writing, the SelfWealth brokerage offers no services for their customers to trade Bitcoin and other digital assets. In July of 2021, the CEO of SelfWealth Cath Walker did announce that they were planning to add cryptocurrencies to their platform - however no further news has come out about this.

If you want to use an Australian trading brokerage that offers Stocks, ETFs, Commodities and Cryptocurrencies all in one, we recommend eToro. They offer Australian stocks, US stocks and over 40 different cryptocurrencies that you can trade for zero fees.

Can I get exposure to Crypto on SelfWealth?

The only way you can get directional exposure to the broader cryptocurrency asset class via the SelfWealth platform is through NASDAQ listed stocks like Microstrategy or Coinbase. Microstrategy are a great option if you are interested in buying Bitcoin - because they hold over $5 Billion of BTC on their balance sheet.

If you are bullish on the broader cryptocurrency ecosystem including Ethereum, NFTs and the Metaverse, investing in an exchange like Coinbase would have you covered.

Crypto Stocks vs Cryptocurrencies

Generally most cryptocurrency advocates recommend getting exposure to the real cryptocurrency asset as opposed to getting synthetic exposure via stocks and ETFs. The data has shown that historically cryptocurrencies have higher upside, while retaining the same downside volatility profile as cryptocurrency related stocks.

This ultimately means the risk reward for digital assets like Bitcoin, Ethereum or Avalanche is more attractive than crypto related stocks.

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Author Bio

Timothy Wilson was a former Prop Trader for a notable crypto trading fund based in Hong-Kong. He built BCA after deciding he wanted to focus his career on educating new users about Crypto and DeFi.

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