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I am German living in Germany but do own an Australian bank account. I would like to use that money to buy bitcoins but somehow am not able to at the big exchange markets. Whenever I identify myself it assignms me a German profile (which is fine) and only allows money transfer from european countries.

Is there a simple way to do this? Sorry for this newbie question...

  • is there's a specific website that you are dealing with? – Adam Nov 29 '17 at 10:05
  • No. Up to know I tried coinbase, independent reserve, bitstamp and safello but not successful – Michael S Nov 29 '17 at 10:07
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Use one of the Australian exchanges such as coinjar.com or coinspot.com.au. They offer methods such as POLI and BPay (which are specific to Australia) for deposits from an Australian bank account.

The rates are slightly more expensive than coinbase but I doubt there's any easy way around that.

  • For identification, I need to provide photo ID and proof of address. All Australian exchanges I tried so far (e.g. Independent Reserve), require that my address is in Australia to be able to deposit money. Is coinspot / coinjar different? Because as far as I can see, I need to provide the same ID information. – Michael S Nov 29 '17 at 11:32
  • From a quick look on the coinjar site they do mention verification from outside Oz support.coinjar.com/hc/en-us/articles/115004362186. – sipwiz Nov 30 '17 at 6:26
  • Thanks for the link. Unfortunately it states "Because we're able to offer bank transfers to Australian bank accounts exclusively at this stage, it isn't possible to complete ID verification if you're not located within Australia." So out of luck here... – Michael S Nov 30 '17 at 10:47
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Your question asks effectively where you can purchase BTC via EFT payment from your Australian bank account.

By the sound of it, the exchanges that you have tried have made the presumptions that will prevent this. I wonder what would happen if you used a VPN to setup your account on an exchange?

There are many VPN's available that let you specify the target exit country (Hola for Chrome for example) - it would be a fairly simple matter to trial.

It may also help if you had an Australian email address, although Gmail and similar are country-generic enough that it shouldn't matter. Using the VPN you could probably signup for a yahoo.com.au email address or similar from your preferred webmail provider. Australian companies like iinet and Bigpond also offer email hosting.

If you were to visit Australia, it would be a simple matter to purchase from bitcoin.com.au who require minimal account setup but, a cash deposit (no EFT).

Also, you could ask your Australian bank to issue you with a Debit Card (Visa/MC logo) which will draw directly on your funds, use that for purchase worldwide.

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