HOW TO EASILY PAY WITH CRYPTO IN AUSTRALIA

Let me start by saying I am no crypto expert! However in the research community, crypto is a favourable way to make payments due to the privacy of your purchase as opposed to a bank transfer. It is not as direct a link to your identity. So it's beneficial to learn some of the basics to protect yourself in this space.

It does come with risks of course. If you send to a wrong address, your funds can not be reversed or recovered. Always triple check and confirm the wallet address you are sending to and ensure you trust the person you are sending to.

I personally use CoinSpot for any crypto dealings. It's an Australian based crypto exchange with a super easy interface for a beginner. You can deposit funds for free by PayID from your bank straight to your CoinSpot account in order to purchase the crypto currency and send it from there to make purchases. You can also deposit with PayPal for free or regular bank transfer. Obviously all of these options make your crypto purchase traceable to you on a platform like this, but not what you actually purchase with the crypto.

When it comes to which type of crypto to purchase, the seller will likely specify which coin they prefer. It's advisable to not let your crypto sit in your account as most coins can be volatile and change in value by the hour.

So just as an example, say you made an online order of $150 AUD and you are going to send that via CoinSpot using USDT on the Ethereum network to a seller who accepts this cryptocurrency. 

1. After creating an account, deposit about $155 into your CoinSpot account (the extra is to cover any small transaction fees)

2. Go to the BUY/SELL menu, search for TETHER USDT then click BUY

3. Enter $155 under "How much AUD?" (it will show you a conversion below of how much USDT that will get you)

4. Click buy and follow the prompts

5. Go to your WALLETS menu then in the list click OPEN TETHER USD WALLET

6. From the left menu, click "Send"

7. Under the "Amount" click "Send all available" or enter it manually. If need be you can always do a Google to convert USDT to AUD so you know how much to enter in this field.

8. IMPORTANT: CHANGE NETWORK TO ETHEREUM (or whichever network the seller has instructed). The fees will show in the currency under the text field once you enter the amount. It will likely only be a few cents worth in AUD

9. BE SURE TO ENTER THE CORRECT PAYMENT WALLET ADDRESS IN THE NEXT FIELD

10. Enter a reference if your seller has given you one and if using Two Factor Code enter this below

11. Finally click "Send" and take a screenshot of the successful payment page to use as your proof of payment and for your own records. CoinSpot may require you to confirm the transaction by emailing you a link.

Voila! It's super easy!

This guide does only apply to sending from an exchange site like CoinSpot however. If you are sending from a “non custodial wallet” such as Exodus (which is like a self managed wallet that you use for a more private transactions that you don’t want the exchange interfering with, such as to an overseas pep vendor), you will need to purchase another coin to cover your “gas fees”. So if you are sending USDT on the Ethereum network, you will need to hold a few dollars worth of Ethereum coin as well to cover those fees. So you would purchase both coins separately then send your USDT on the Ethereum network as normal.

In Australia it’s easiest to buy your separate coins on CoinSpot, then send them separately to your Exodus wallets as buying directly on Exodus is too expensive.

Hope this helps!