Bitcoin Volatility Index
Bitcoin is currently worth AUD as of the time you loaded this page.
Independent Reserve is one of the largest Australian cryptocurrency exchanges by volume, with nearly AUD 2.9 million traded in the last 24 hours at the time of writing. Independent Reserve supports AUD, NZD, and USD fiat pairs as well as OTC. The exchange primarily focuses on Australia, Sydney and Singapore based users.
This pro-regulation, Sydney based exchange is licensed with MAS, and strives to ensure security and trust for all of their users.
Other exchanges with high AUD volume include Coinbase and Coinmama, two popular choices for cryptocurrency investors around the world. Although they're not based in Australia, both exchanges are open to the Australian public.
Thanks to the Australian government's change of heart concerning cryptocurrency regulation, Bitcoin adoption in Australia is on the rise.
After eliminating regulations stifling the growth of Australian Bitcoin adoption back in 2017, Independent Reserve saw an influx of roughly 200 new users per day.
Even more impressive was their total daily volume of over $4 million in transactions.
Despite volume retracing slightly since Bitcoin's last big run-up in 2017, Independent Reserve remains one of the top Australian Bitcoin exchanges. They've processed more than AUD 2 million per day in Bitcoin transactions alone at the time of writing. For an updated 24hr volume, check out their page on Coin Market Cap.
The price of Bitcoin is always on the move - if you want to know the current price of Bitcoin in Australian Dollars, check out our BTC/AUD calculator tool.
Thanks to increasing block difficulty and expensive energy costs, Bitcoin mining is far from profitable.
Aside from government regulation, overhead costs are the main factor to consider when calculating your mining profitability. After your expensive initial investment for power-hungry mining hardware, you're going to have a hefty power bill to foot as well.
To maximize profitability, mining in a country with cheap electricity is your best bet. According to Coinmama - one of the largest cryptocurrency exchanges - countries like Kuwait, Georgia, Iceland, and Estonia are the best countries for mining.
They all have cheap electricity - for example, Kuwait's electricity costs a mere AUD 0.026 per kWh, which is astronomically cheap.
Comparatively, The South of Australia pays an average of AUD 0.37 per kWh, 1323.08% more than Kuwait. (Source).
Unfortunately, Bitcoin mining in Australia is not a viable option if you want to turn a profit.
You can check the Bitcoin price in gold, by clicking here.