Bitcoin is an example of a blockchain asset. You can send Bitcoin over the internet directly as easy as sending an email. Like cash, Bitcoin transactions are irreversible. Bitcoin and other blockchain assets are traded on exchanges worldwide. More information and an introductory video can be found on what is bitcoin page.
BTC Markets is an Australian marketplace for buyers and sellers to exchange blockchain assets. We are 100% privately Australian owned and all staff are based in Australia. You're trading with other users of this site. The price you buy or sell at is up to you. The price is influenced by the demand and supply from buyers and sellers on this exchange. The current price shown is the last price a buyer and a seller agreed to exchange at.
We do not specifically disallow the use of VPNs however the use of a VPN can cause delays in our identity verification systems as well as the processing of deposits and withdrawals. Due to these potential issues we recommend not using a VPN while accessing your BTC Markets account.
No. We only provide a service for our users to safely trade with one another. Our blockchain assets are sourced by deposits from our users.
If you would like to purchase blockchain assets today we recommend using POLi Payments as your deposit option. This is the quickest way to get money cleared into your account to trade. You will need to be a verified user before you can make a POLi deposit and your first deposit needs to be under $500 to clear quickly. Please refer to the list of our supported POLi banks. Please note that while verification of your account can sometimes be done same day, there can be certain scenarios that require additional time.
We offer a managed service, so once you have bought blockchain assets you may send, receive and store your assets on our exchange. We always recommend that our users manage their own funds and withdraw to a personal wallet after purchase. There are many third party wallets to choose from, such as the popular blockchain wallet for Bitcoin or electrum for Litecoin. If you prefer to manage your own wallet service, you may choose to download Bitcoin Core or Litecoin Core. We recommend you read up on how best to manage your blockchain wallets.
Yes we do and all the documentation and sample code can be found on GitHub.
No. The use of our services for the purpose of payment to ransomware is strictly forbidden and is against our terms of service. Any users found to be using our services for such purpose will have their account terminated.
No. The use of our services to engage in any illegal activities is strictly forbidden and is against our terms of service. Any users found to be using our services for such purposes will have their account terminated.
Click on "Account" then "Deposit" for a list of depositing options. Once your deposit has cleared you can place a buy order. Click on "Buy / Sell" and enter the amount and price you want to pay. The easiest and quickest way to buy blockchain assets is to select a "Market Order".
Click "Buy / Sell" and navigate to the sell form and enter the volume and price. The easiest and quickest way to sell blockchain assets is to select the market order option.
A market order will buy or sell immediately at the best available price. The best available prices are shown in the order book if you want to check it before ordering. To create a market order just select the "Market Order" option on the trading page.
When you place a limit order you decide what price you wish to buy or sell at. Your order will then be added to the order book and will be waiting for someone to submit a matching order.
The order book is a list of all open sell and buy orders. You can buy or sell blockchain assets at those prices instantly.
Newly placed orders first go into the order book as an "Open Order". When some of your "Open Order" matches with another user it becomes a "Partially Matched Order". When ALL of your order matches with another user it becomes a "Fully Matched Order" or "Completed Order". Completed orders are removed from the order book.
You may cancel your order before it trades at any time by clicking on "Buy / Sell" then "Open Orders" . You can also cancel a partially matched order.
If you find that nothing happens after a long time, click on "Open Order" and have a look to see if your order is still open. Check the price to see if it's near the market average. You may have to cancel it and put in a more competitive price if you want your order matched more quickly. This is all part of trading.
At this stage we have not implemented a stop loss feature. If you place a sell limit order below the market value our system will execute the order for the market rate. The same also happens if you place a buy limit order above the market rate.
To make a bank deposit or withdrawal to/from your account you must be verified. Becoming verified is often a quick process but in some cases can take a few days to complete. Once logged in, click "Account" then "ID Verification" and you will be redirected to Green ID. The easiest and quickest way to verify is to use your passport and drivers license. If you have any issues, feel free to contact support who will be able to resolve any issues.
Although we are not officially regulated yet by AUSTRAC, BTC Markets has decided to remain compliant by following AML and CTF guidelines. More details can be found in our AML/CTF Policy. We ask our users to verify their accounts as part of our KYC (Know Your Customer) policy. We may also ask for additional documentation to confirm your identity.
Once you have registered and logged in, we recommend all users enable two factor authentication (2FA) on their account for additional security.
Security and privacy of our clients accounts' and data is our top priority. We run regular reconciliations of all our funds (twice a day for crypto and every hour for AUD) to ensure we have a full reserve. We also apply the best practises and are continually developing and enhancing our security measures.
In many cases name changes are not possible. Please contact support and provide the details of the name change.
You can change your password by using the password reset feature.
For security reasons we do not allow email address changes. If you want to use another email address, please register a new account.
The two-factor code is very time sensitive. Even if it is out by a few seconds it may prevent you from accessing your account. Please check the time and date on your phone is fully synchronised and accurate.
Please go to the two-factor reset page and follow the instructions to regain access to your account.
Our clients may confidently entrust their cryptocurrency with us however our recommendation is that clients should manage and safely secure their own funds. This philosophy is inherent to the nature of peer-to-peer crypto currencies. We believe crypto currency storage reserves should not be reliant upon a single entity, such as a bank, exchange or third party wallet management system.
We use a cold wallet and hot wallet system to secure and manage our client's cryptocurrency reserves. We maintain a full-reserve and process reconciliations regularly. This gives us and our client's confidence that the funds shown in their accounts matches with what is really in our bank and cold wallets. Our encrypted cold wallet storage is off-site in multiple locations. Each location is physically secure and physically diverse.
To withdraw funds, click "Account" and "Withdraw", select your withdrawal type and enter the details. Please make sure you enter the correct blockchain address.
To deposit funds, choose the correct blockchain asset, click "Account" and "Generate Address". You can use this address to receive blockchain assets.
When you create an order the money shows as pending and populates the order book. Pending funds are released when the order has been matched or cancelled. To cancel an order navigate to "Buy / Sell" and then "Open Orders" and then cancel the required open orders. The funds will be returned to your balance immediately so you may trade again or withdraw.
You can only withdraw funds up to the amount of your available balance. If you are getting the error "Insufficient Funds" unexpectedly, you may have some open orders that are holding some funds. You may wish to cancel your open orders to be able to be able to withdraw those funds. To see if you have any open orders, click on "Buy / Sell" and then "Open Orders" and then you can cancel any open orders.
You can view your account overview to confirm any unprocessed withdrawals or open orders (as indicated by pending funds).
First time user withdrawals are subject to a security check to ensure they are not fraudulent. We can see all withdrawals and they will be processed once they have been cleared by our fraud prevention systems.
The blockchain is the record of every blockchain asset ever generated and every transfer from one party to another. Each cryptocurrency that is based on the same type of technology as Bitcoin has its own blockchain.
Please contact support and provide details of the transaction. We endeavour to ensure all transactions are completed as quickly as possible.
Please check how many confirmations are required on the deposit page. Currently we wait for 1 Bitcoin confirmation to credit user accounts.