How to invest your Dai and Earn Passive Income

Dai LogoDai is a stable coin that is pegged to the U.S dollar. What makes it unique is that it uses smart contracts to maintain this value.  So far Dai has proved to be incredibly resilient and stable!  Did you know that you can invest your Dai and earn interest?  As of writing this post you could be making 7% per annum, which is much, much, much higher than what the banks are offering.

So read on to find out how you can start generating passive income, just by holding Dai.

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How to Buy Bitcoin with PayID, POLi and BPay on Binance

Banxa LogoAustralian crypto investors rejoice – you can now buy Bitcoin using a number of Australian native payment methods of Binance.  This is going to make it cheaper and easier to buy Bitcoin through the binance platform for Australians.  Here is how it all works:

Binance Fiat Gateways

Binance uses a number of different third party payment gateways to process fiat payments.   Their approach is to support a lot of different gateways so that consumers have a choice.  And this also creates competition which will hopefully lower the prices overtime.

Banxa is the third party processor that Australians can use and it’s the one that supports PayID, POLi and BPay.  It has been built by Australian’s and the company is based in Australia. Here is how to buy Bitcoin on Binance using Banxa:

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The Easiest Way to Invest in Gold in Australia

Investing in Gold is an easy way to protect against inflation and volatility.  Traditionally when there is volatility in the U.S dollar, the price of gold goes up.  And unlike fiat currency that will depreciate in value due to inflation, Gold has retained it’s value.

The one downside to gold is investing in it isn’t very easy.  Well now there is a brand new way to invest in Gold that is powered by cryptocurrency.  The Gold Standard Token.

Read moreThe Easiest Way to Invest in Gold in Australia

The best place to buy Bitcoin in Australia: 2020 Guide

In 2019 Bitcoin gained nearly 100% making it once again one of the best performing assets.  So how do you get in on the action and buy Bitcoin for yourself?  The good news is that it’s now incredibly easy to buy Bitcoin with a number of trusted options available in Australia.

Here is my guide on how to buy bitcoin in Australia:

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How to Sell Your Coinbase Cryptocurrency in Australia

Coinbase is a super convenient way to buy cryptocurrency in Australia.  Using Coinbase you can buy Bitcoin and a number of other popular cryptos using your credit card.  This means you can buy and access your bitcoin instantly.  But unfortunately you can’t sell your Bitcoin back into Fiat in Australia.  So read on to find out how to get around this and convert your bitcoin back into cash.

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How to buy crypto without any fees

The worst thing about buying cryptocurrency are the fees.  As it’s still a new asset class, there isn’t enough competition to really drive down the fees.  But that is starting to change.  And it is possible to buy into crypto and skip the big fees.

In this post I’m going to share with you what I think is the best way to buy cryptocurrency without any fees and some other lower fee alternatives too.

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How to cash out your Bitcoin

Are you looking to sell your bitcoin and convert it back into cash?  Well here is a guide on how to cash out your bitcoin in Australia.

Selling Bitcoin on Coinspot

Coinspot makes it really easy to sell Bitcoin and then transfer the money to your bank account.  You can sell the Bitcoin you’ve bought through Coinspot or you can transfer Bitcoin into Coinspot and sell it.  To transfer Bitcoin to coinspot just visit the wallet page for Bitcoin and then click on the “receive bitcoin” link.  This will generate a bitcoin address for you that you can use to send bitcoin to.

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Buy Bitcoin using PayID

PayID is a deposit method that lets you pay instantly using your bank account.  It was recently introduced by Australian Banks.  Using PayID you can transfer money instantly using just an email address.  It’s a bit like PayPal but works directly from your bank account.

Buying Bitcoin Using PayID

CoinSpot, my favorite cryptocurrency broker has just started offering support for PayID deposits.  And at the moment there is no fee.  I tested out using PayID this morning and the process was really easy.

To use PayID with CoinSpot you simply send money via your internet banking app to the email address coinspot provides.  And you just need to include your customer reference number in the description field.  Coinspot has put together really good documentation as well, so you won’t have any troubles.

The deposit showed up in my coinspot account within a few minutes.  It should in theory be instant, but apparently banks delay the payments if you’re paying someone new.  But this delay is only ever a couple of minutes.

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