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Crypto basics, explained simply.
Part 3:
Transact
What is a crypto transaction?
A crypto transaction is when you send digital token (like Bitcoin) from one person's wallet to another's wallet.
What do you need to do a transaction?
First you all you need to have crypto in your wallet.
1. Conversion
Pick a trusted provider to convert your money into crypto and create an account.
2. Verify your identity
Provide basic details, required by Australian law.
3. Deposit money
Fund your account through a bank transfer.
4. Buy crypto and store
Use the funds to buy crypto. You can keep it on wallet provided by the platform or move it to your own wallet.
How does it work?
1. Wallets
You pick how much you want to send and enter the other person's wallet address.
2. Transact
Hit sent
3. Network
The network confirms the transaction
The receiver gets the crypto.
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