CoinTree –Buy & Sell Bitcoins in Australia
CoinTree has created a platform that provides its clients with a means of purchasing and selling bitcoins in a safe and quick process.
Users who have their personal bitcoin wallets are also given an opportunity to utilize their bitcoins in purchasing altcoins and paying for other ordinary bills using bitcoin.
CoinTree is no doubt the Australia’s latest bitcoin exchange whose primary focus is on security, ease of use, as well as price. This company is based in Melbourne, Australia and was started by two software engineers.
What Is A Bitcoin?
This is a digital payment system and a cryptocurrency that was released as an open source software in the year 2009. This system provides room for a direct transaction between the users without the need of an intermediary. Bitcoin is basically a new currency that is not regulated or controlled by any financial institution, or government.
This platform is universally maintained by the users who are all over the globe, enabling them to verify the integrity of the platform before they use it. This is a safe way of locking out any form of dictatorship that is always provided by a single centralized agency. For this reason, Bitcoin has been widely referred to as the first decentralized digital currency. The bitcoin has achieved a great global recognition by the public since its foundation in the year 2009.
How CoinTree Work?
The transactions here are recorded in a public distributed ledger after having been verified by network nodes. The public distributed ledger is known as blockchain. Bitcoins can be used for a myriad of needs including buying clothes, cars, and food as a means of standard currency. Users can transfer it to anyone without having to convert between the currencies.
Ease of Use
CoinTree has ensured that strong emphasis is put on visitors to Bitcoin, offering them a special and a reassuring demo. Before newcomers engage actively in the main CoinTree platform, they can check a dummy version of the main website run various trial services before actively joining the service. The site provides tooltips for any feature that could be complicated to the new users, and this is very reassuring.
There are also simple explanations and definitions that are given to guide users through the entire process. To keep things as easy as possible, the new users are provided with a bitcoin wallet once they sign up. This is an all-inclusive style that is approachable and welcoming.
CoinTree has removed all the trading complexities and terms that can derail some exchange processes and even confuse some users. All the users have to do is to sign up, add funds and purchase the amount of bitcoin that the need.
The instant demo that is provided on the homepage gives the new users an opportunity to try the obligation-free CoinTree without submitting any personal detail.
The Bitcoin Wallet & Address
A bitcoin wallet is used for the purposes of digitally storing the bitcoin, just as an actual wallet that is used to store cash. The bitcoin address carries a sort of compartment within the wallet just as an actual wallet’s compartments. CoinTree provides its users with a Bitcoin address that is used to send and receive the bitcoin.
Security is another top priority that CoinTree has decided to focus on. All new users are offered a two-factor authentication for purposes of security. Another great security feature here is the BitID login option. This feature allows users to log by scanning a QR code, unlike the normal norm where users who have to type in their passwords. This feature works well and ensures that all information is secure. All the user information and website communication is encrypted. There is also specially created security page that assists the old customers and novices alike in securing their accounts safely.
Proof Of Solvency
This niche touch is the act of offering bitcoin exists for all the users. Users can verify their bitcoins exists at any time and rest assured that their balance is available and accessible. CoinTree offers a quick link that users can use check their bitcoins in their wallet on an external blockchain explorer.
CoinTree has a highly monitored and very active social media presence. They respond to social media messages sent through Facebook, or Twitter within the shortest time possible.
The support request system that is available for users is properly structured, and users can rest assured that their request will be considered in real time.
The Regular Purchases Feature
CoinTree customers now have an opportunity to automatically buy bitcoin straight from their standard bank accounts at frequent timings. This new service is currently capped at 200 AUD per single order, providing for about five days within the purchases.
CoinTree is focused on ensuring that new users have an easy and straightforward entry to this platform. The goal of this latest automation that CoinTree has invested in is to give its users the ability to accrue bitcoin over time and an easy way of diversifying their investments into Bitcoin. This will eliminate the hassle of making numerous trips to the bank or limitless reminders to transfer cash.
CoinTree provides effective and reliable services to the beginners while at the same time boasting numerous features for the weathered users of bitcoin. It is the best for novices and seniors interested in making their bitcoin purchases.