This was a couple of years ago when the concept of purchasing Bitcoin appeared to be an activity only millionaire geeks engaged in. But today? You can start your crypto journey with as little as $10—even right here in Australia. I did it myself, and in this post, I’ll walk you through exactly how I bought Bitcoin with just $10, the platforms I used, what I learned, and how you can do it too—without feeling overwhelmed or getting scammed.
Why I Started With Just $10
Let’s be real—Bitcoin is volatile. Prices go up, down, and sideways faster than the Aussie weather. I didn’t want to throw in hundreds of dollars right away. So I started small. Ten bucks. It felt safe, manageable, and more like an experiment than an investment.
And guess what? That $10 got me 0.000017 BTC (at the time). Not a fortune, but enough to understand the process.
Step 1: Picking a Safe Aussie Crypto Platform
In Australia, we have some solid, regulated crypto exchanges. I did my research and ended up using CoinSpot because:
- It’s AUSTRAC registered
- Has a clean and easy interface
- Lets you buy BTC from as little as $1
- Supports instant AUD deposits
Other legit options include:
- Swyftx
- Binance Australia (though they’ve had regulatory issues recently)
- Digital Surge
All of these are beginner-friendly and let you start small.
Step 2: Create My Account
I registered with my email and my password. Pretty standard. Next, there was identity verification. There are good anti-money laundering regulations in Australia and you are going to have to:
- You should upload a picture of your driver license or passport
- Take a selfie or a short video in order to make sure that it is you
This step can take a few minutes to a few hours. Mine got approved in under 10 minutes.
Step 3: Depositing My $10
Most Aussie exchanges let you deposit AUD using:
- PayID (instant)
- Bank Transfer
- POLi Payments
I used PayID—it was instant and free. I transferred exactly $10 from my NAB bank account.
Step 4: Purchasing Bitcoin (At last!)
As soon as the deposit appeared in my account, I went to the BTC trading and bought 10 with a click.
Boom. Just like that, I became a Bitcoin holder. My account showed 0.000017 BTC. The exchange took a small fee (~$0.30), but it was worth it to test the process.
What Happens Next: Storing It Safely
However, you keep your Bitcoin there, by default. However, that is not very advisable in the long run. You can be even more secure (and do not have to trust third-party platforms):
- Transferring to a hot wallet
- Or a cold wallet (like Ledger or Trezor)
Since it was only $10, I left mine on CoinSpot to start. But later I moved it to a mobile wallet just to get familiar.
What I Learned from My $10 Bitcoin Purchase
- Start small is smart – You learn a lot without risking much.
- Fees exist – Even for small amounts, so keep that in mind.
- Regulated exchanges matter – Avoid shady platforms promising crazy returns.
- Storing your BTC safely matters – Especially if you invest more later.
Can You Actually Make Money Starting with $10?
Yes and no. If BTC goes 100x, your $10 becomes $1,000. But realistically, you’re not getting rich off $10. This is more about education than quick profits.
Once you’re comfortable, you can dollar-cost average (DCA)—buy small amounts regularly over time.
Article: Crypto Staking Tax in Australia – What the ATO Says
Tax Tip: Yes, The ATO Wants to Know
Even if you buy just $10 worth, the ATO treats crypto as property, not currency. So:
- If you sell later for a gain, it’s a capital gains event
- If you earn crypto (like staking), it’s taxable income
So always:
- Keep records
- She should use such tools as Koinly or CryptoTaxCalculator
Final Thoughts: Is It a Good Idea to Start with a Trading Dozen?
Absolutely. It is the most appropriate way of learning without fear. I have assisted some of my friends to get started this way and they are now successfully running their own small portfolios.
You don’t need thousands to enter crypto in Australia. You just need curiosity, a verified account, and ten Aussie dollars.
If you’re still on the fence—do it. Not for the gains, but for the experience. That $10 may not change your life financially, but it will make you feel a lot less confused next time Bitcoin is in the news.