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Crypto exchanges in aus?

hello gentlemen,

 

i'm looking to get into selling cypto as a side income (unemployed student gang where you at?) with no intent to get rich. Ive looked at most Exchanges in australia and understand the gist of most, but i want to hear some stories from actual users. Coinbase is looking appealing to me, but ive heard the fees can be a deal breaker.

 

(just as a note: im under 18 but my parents are on board with the idea so they'll manage any accounts.) 

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44 minutes ago, mon1ka said:

hello gentlemen,

 

i'm looking to get into selling cypto as a side income (unemployed student gang where you at?) with no intent to get rich. Ive looked at most Exchanges in australia and understand the gist of most, but i want to hear some stories from actual users. Coinbase is looking appealing to me, but ive heard the fees can be a deal breaker.

 

(just as a note: im under 18 but my parents are on board with the idea so they'll manage any accounts.) 

What kind of Crypto you thinking about getting into? BTC, ETH, BNB, or something else?

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1 minute ago, jrhaberland said:

What kind of Crypto you thinking about getting into? BTC, ETH, BNB, or something else?

A mixture, was always planning to not put all my eggs in one basket. was gonna put a dollar into dogecoin for the lols tho. 

 

long story short, i dont know exactly which ones.

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1 hour ago, mon1ka said:

A mixture, was always planning to not put all my eggs in one basket. was gonna put a dollar into dogecoin for the lols tho. 

 

long story short, i dont know exactly which ones.

I'd recommend Binance. I have to use binance.us because I live in the USA. You'd just use binance.com. The fees are around 0.1%. I do just want to warn you that you could loose all of the money you invest in crypto, so I just want to warn you to be careful.

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1 hour ago, jrhaberland said:

I do just want to warn you that you could loose all of the money you invest in crypto, so I just want to warn you to be careful.

ive set myself a limit of like $15. not much but its a safe amount id think. For wallets i was just gonna use some of the built in brokers because i really dont want to deal with the whole learning wallet codes and that.

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8 hours ago, mon1ka said:

ive set myself a limit of like $15. not much but its a safe amount id think. For wallets i was just gonna use some of the built in brokers because i really dont want to deal with the whole learning wallet codes and that.

There isn't anything to "learn" about wallet codes really. Just a bunch of words that you should keep extremely safe and never show to anybody ever. For small amounts (i.e. in the beginning) it's fine to keep it on the exchange if you use a reputable one. You'll pay a significant fraction in fees if you were to transfer such small amounts to a wallet every time.

 

Coinbase is to load up on fiat. Coinbase Pro has lower fees and is where you do the trading. Personally I use Binance because I liked the large selection of coins over there. With $15 you mean in total or per month? I would stick with the big ones at the start: BTC and ETH. once you're happy with those perhaps pick an alt you like. Keep in mind that:

  1. You should be in for the long run, i.e. no millonaire over night
  2. Don't invest what you can't lose
  3. We're in a bull market right now, which means pretty much every decision will make you money. It will go down again, be it through a correction or entering the bear market. Don't get scared and panic sell when it drops. Look at the charts and you'll realise it comes and goes in cycles.
  4. Crypto is very volatile. You can be up 10% today and down 20% tomorrow, see point 1.

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