Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Wrapped Bitcoin. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!

Sign up with Swyftx

Wrapped Bitcoin

Australia has a decent number of reliable and regulated crypto exchanges, so it’s quite easy finding an exchange that has Wrapped Bitcoin. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.

Let’s get into it!

How to Buy Wrapped Bitcoin in Australia

There are only 4 main steps involved and it’s pretty straightforward:

  1. Choose a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with AUD
  4. Buy Wrapped Bitcoin

1. Choose a crypto exchange

As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Wrapped Bitcoin in its list of cryptocurrencies.

Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.

And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.

So for this guide on buying Wrapped Bitcoin, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Wrapped Bitcoin.

You can also take a look at our analysis of the easiest crypto exchanges If you’re looking to learn more about the exchanges we prefer.

2. Sign up with the crypto exchange

Once you’ve decided on which exchange to use, it’s time to sign up.

Sign up with Swyftx and grab $20 free BTC.

Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.

Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.

Once done, it’s time for the next step.

3. Funding your account with AUD

To buy Wrapped Bitcoin, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.

Swyftx Deposit Methods

4. Buy Wrapped Bitcoin

The final step is to go to their asset list, find Wrapped Bitcoin, navigate to the buy section, and then trade your AUD for some WBTC. Once you’ve bought Wrapped Bitcoin, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.

Where to Buy Wrapped Bitcoin (WBTC)

ExchangeRatingCryptocurrenciesSite
Swyftx logo5/5300+ cryptocurrenciesVisit Swyftx
CoinSpot logo4/5200+ cryptocurrenciesVisit Coinspot
binance logo3/5400+ cryptocurrenciesVisit Binance

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

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How to Sell Wrapped Bitcoin

If you’re thinking about selling Wrapped Bitcoin, just follow the steps below.

  1. Sign in to the crypto trading platform (like Swyftx).
  2. Click on Wrapped Bitcoin in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
  3. FInd the sell section and sell Wrapped Bitcoin for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

Is buying Wrapped Bitcoin in Australia legal?

Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.

How to buy Wrapped Bitcoin with PayPal?

Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Wrapped Bitcoin. Have a look on their site first, you might be lucky.

How to buy Wrapped Bitcoin with a credit card or debit card?

Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Wrapped Bitcoin with your credit/debit card.

About Wrapped Bitcoin

Yearn.finance is an aggregator that offers decentralized finance (DeFi) to investors. It uses automation to maximize yield farming profits.

It's designed to make it easier for investors to access the DeFi area, even if they don't have the technical knowledge or are less committed than serious traders.

The service, formerly known as iEarn, was launched in February 2020. The company has seen tremendous growth, as it has released new products and an token YFI.

Yearn.finance was established to simplify DeFi investments and simplify activities such as yield farming for a larger investor sector.

This platform acts as an aggregator for DeFi protocols such as Curve or Compound and gives cryptocurrency investors the best possible yield.

The platform is receiving new features all the time. These features are intended to maintain its long-term value.

Yearn.finance makes a profit by charging withdrawal fees, currently 0.5% as of September 2020. Yearn.finance's governance system allows for the modification of these fees by consensus.

Yearn.finance is for investors who do not have the time or desire in order to maximize their returns.

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