How do I make an AUD deposit and buy Bitcoin?
***The deposit process and the buy coin process have now been split into two pages. Please go to the "Deposit Cash" page to deposit funds into Cointree. Once your funds are showing as AUD credit in Cointree you will then be able to use the funds on the "Buy Coin" page and convert them into cryptocurrency. This article will be updated soon to show the new process. If you have any questions please feel free to contact our support team.
Using Cointree, it is easy to make an AUD deposit and buy Bitcoin. Once you have created an account and completed the ID verification you will be able to make a deposit or purchase.
Here is a step by step guide to purchasing Bitcoin with AUD.
Once you are logged into your account and your account is ID verified, click the buy/sell/trade button at the top of the page.
On the next page, select the buy coin tab above the coin overview.
On the buy coin tab, you will see the options Electronic funds transfer, POLi & Use Account Credit.
Electronic funds transfer will give you the option to either purchase bitcoin with your deposit straight away, or deposit AUD into your account to buy bitcoin later. You can switch between these by selecting 'buy' or 'deposit only'. If you select buy, the amount of bitcoin you will receive will be quoted below.
POLi. With POLi payments, we receive confirmation of your payment straight away and will credit the AUD or Bitcoin to your account, however, there is a restriction on sending any of these funds outside of Cointree until the funds have cleared into our account which is usually overnight. (This is subject to your bank's processing times and can take 1-2 banking days.)
*For deposits where you have selected to 'buy bitcoin', the price is locked in until the market rate changes by more than 2%, up or down. If this occurs before we receive your deposit and process it, we'll credit your account so that you can decide when to best go ahead with the purchase.
Use Account Credit is where you will be able to buy bitcoin with AUD you have in your account.
For EFT deposits, once you have created your purchase order, you will be provided with the bank details to make your deposit to as well as the reference number to include so we can track the deposit and credit this to your account as soon as possible.
Please note that we recommend not including the word 'Bitcoin' in the description of the deposit to help avoid the banks blocking the deposit.
It’s that easy! If you have any questions about deposits and purchases, please feel free to contact our support team.