The national currency of the Commonwealth of Australia is the Australian Dollar. In use since 1966, the currency is currently the fifth most traded currency in the World. Sometimes referred to as the "Aussie" this currency is made up of 5c, 10c, 20c, 50c, $1 and $2 coins as well as $5, $10, $20, $50 and $100 banknotes. Australian coins show Queen Elizabeth II on one side.
Australian dollar to Bitcoin conversion
this page last updated:: Wed 22 Nov 2017
Convert Australian dollar to Bitcoin
Introduced in 2009, Bitcoin is an online, digital currency which doesn’t have a central bank or ownership and is often referred to as a peer-to-peer payment system. Bitcoins are generated through a process known as "mining." This involves using specific software to solve maths problems. When a maths problem is solved, the "miner" is rewarded with a Bitcoin. These Bitcoins can then be exchanged for goods and services. Although the number of companies who accept Bitcoins is currently limited, as the currency becomes more well known the number is growing. Bitcoins can also be bought using other currencies. Bitcoin is also a "crypto-currency" which means it uses cryptography to drive the production of Bitcoins and Bitcoin transactions. This makes the currency extremely secure. The "block chain," which is effectively a public book of accounts, is used to check that genuine Bitcoins are being exchanged in all transactions. Bitcoin benefits from no limits of exchange as users can perform instant transactions at an
Australian dollar to Bitcoin table