BTC stands for bitcoin and it is also referred to as cryptocurrency. Bitcoin is a type of digital currency that is held electronically. No one can control bitcoin because it is not in printed form like other currencies. People prefer bitcoin as a means of earning money is because no one controls it as the entire system of bitcoin is decentralized and therefore the banks no longer control the money. Moreover, it also allows money to be transferred in a fast and efficient manner from one place to another as soon as the bitcoin network starts processing your payment. If a person decided to send bitcoin to someone then there is no way they can get it back until and unless the person who received the Bitcoin decides to send it back to you.
People tend to look for ways through which they can convert their BTC to Aud or any other form of currency. 1 bitcoin equals to 1562.87 Australian dollars and that is a huge amount. This means that people who are earning money in bitcoins can earn more money as compared to people still dealing in handheld currencies. People can easily transfer bitcoins to Australian dollars mainly because of the new Internet resources that have been introduced to deal with the conversion.
There are a number of ways that can be used to convert BTC to aud. Some of the ways that can be used are mentioned below:
1. Wirex is the best way of converting bitcoins to Australian dollars. It allows instant conversion as only within 30 seconds BTC can be converted to Australian dollars. Moreover, wirex also makes sure that people convert their bitcoins when the exchange rate suits the rate they want. People can convert their bitcoins in advance. It also makes sure that the bitcoins that have been transferred to Australian dollars can be used instantly. Thus people can use the money by withdrawing cash from ATM machines.
2. Another way is to use Coins.ph that is another fastest and reliable way of converting your bitcoins to Australian dollars. All you have to do is to sign up on the website and place and order on the cash out page. Indicate the amount on which you wish to sell your bitcoins and provide the website with all the necessary information that it asks for. Now choose the payment procedure and you are good to go.
3. People can also visit a local trading site where many people have listed their bid for bitcoins and therefore people can easily strike a good deal out of the deals that have been mentioned.
4. Another way through which bitcoins can be transferred to Australian dollars is to look around within your friend’s circle in order to determine that whether anyone is willing to buy bitcoins from you. You might strike a deal of your choice.
5. Social media can be used to advertise the sale of your bitcoins. People who are willing to buy bitcoins would contact you and then you can use different local trading sites to complete the deal and the trading process.
6. Moreover, a trading site like bit trade Australia can be used. They deal in the process of buying and selling of bitcoins. People who are willing to sell their bitcoins in order to get back Australian dollars can sign up on the website. Decide on the number of bitcoins you are wishing to sell and give them your wallet details so that money is transferred to your account within 1-2 business days.