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How Australians Can Spend Bitcoin with Round the Block  

By October 15, 2018 No Comments

Being a prosperous, large and advanced nation, where a major percentage of the population is well-educated, Australia is the natural cryptocurrency leader in the global landscape. With the relaxation of crypto tax laws encouraging growth, Australia now holds the 14th position in the world for trading volume in Bitcoin. By enabling Australians to spend Bitcoin with Round the Block, that trading volume could see further increases.

As more advancements continue to develop, the country will no doubt be the leader in the modern crypto space. If you are currently residing in Australia, this Round the Block guide will assist you in speeding up Bitcoin’s status within the country. We’ll show you multiple ways to use Bitcoin in Australia on the Round the Block platform.

Image depicting homepage and options to spend Bitcoin with Round the Block platform

Why Round the Block?

With this level of Bitcoin trading, you might be interested in embarking on your own Bitcoin journey very soon. Round the Block is one place where people who are fascinated by the blockchain and digital currencies can interact with these technologies. The project’s main goal is to provide a platform for Aussie cryptocurrency lovers that is easy to use. Now, Australians have a way to spend Bitcoin with Round the Block.

The Round the Block team believes that this technology should be made more accessible and more understandable to people. Their path going forward incorporates elements like Simple, Quick and Secure. As such, the platform will educate investors and merchants providing relevant resources. These tools will enable users to buy, sell, exchange, pay bills, grow and hodl on the platform with 12+ different cryptocurrencies.

Why Australia?

Despite the regulations imposed by the Australian Taxation Office, there exists optimism in the cryptocurrency environment across the country. Nearly 1,200 crypto scam complaints led the financial intelligence agency of Australia to impose regulations governing crypto exchanges. Now, officials are working to reduce the incidence of fraudulent activities. Meanwhile, cryptocurrency users must educate themselves to make sure they are trading safely. Or, they can simply sign up to a properly regulated exchange platform where they can buy and spend Bitcoin with Round the Block.

How Australians Sign Up with Round the Block to Buy Bitcoin.

Through Round the Block, Australians can buy and sell Bitcoin using their MasterCard or VISA. Payments are facilitated in a few simple steps:

  • Step 1: Create a Round the Block Account: All you have to do is to fill out a few details in the register tab. Information includes your first name, last name, address, email, and password. In case you already have an account, you can sign in through the login details.
  • Step 2: Account Verification: In order to trade in Bitcoin, it is important that you are verified. Depending upon the level of verification, clients may need to provide their passport or any other proof of identity. Other documentation may also be necessary.
  • Step 3: Start Transacting in Bitcoin: Once you’ve gone through registration and verification, navigate to the Bitcoin option. Here, you’ll find various choices, such as buying or selling a fixed amount of BTC, or entering a custom amount. Additionally, you’ll need to provide a Bitcoin wallet address when proceeding to the checkout page.
  • Step 4: Checkout: After completing the form with relevant and important details, make sure your card details match the registration info. Following that, a user will get to the payment page, where MasterCard and VISA cards are the payment options. Once the payment is complete, the order status will be ‘in processes and soon the order and payment will be approved.

For additional information about setting up on the Round the Block platform, you can refer to their FAQ.

Easy Ways to Spend Bitcoin with Round the Block

Image depicting easy ways to spend Bitcoin with Round the Block platform

Once the user has set up their account and buys some Bitcoin, they can spend it in several ways:

Gift Cards

Your Bitcoin can now be exchanged for the Round the Block Flexi eGift Card. Once you purchase the Flexi eGift Card, then follow the email prompts to redeem your gift card at any of the dozens of retailers listed at their site.

Image depicting some of the retailer gift cards when Australians spend Bitcoin with Round the Block

BPay

Pay your credit card bill with BPAY. Enter your credit card company’s biller code and reference number. In most cases, the reference number will be your credit card number. If you’re unsure, we recommend you contact your financial institution to verify the details.  Round the Block will accept payments of up to $1,000 per BPAY transaction for verified users and billers.

Bank Transfers

Australians can take their Bitcoin and transfer the value to their bank account.

Rewards

With so many ways for Australians to use Bitcoin, Round the Block also rewards its users with points. After they’ve built some up, they can easily convert them into rewards as shown below.

Image depicting some of the reward options to spend Bitcoin on the Round the Block platform

Australia tomorrow…

In Australia, Bitcoin and blockchain technology are deeply entrenched, more so than in many other nations. Buying and selling digital assets in Australia is legal and gaining popularity. Platforms like Round the Block are bringing more on and off-ramps to the crypto space, allowing users can participate. In fact, having a local platform like Round the Block that adheres to local laws puts Australia on the fast track to cryptocurrency adoption.

Disclaimer: This is a sponsored post. As such, this information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Cryptocurrency Australia Media, or the author, may have holdings in the cryptocurrencies discussed.