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Elbaite: A$21 Bonus Signup Credit to Purchase A$100 Worth of Crypto+ A$5 for Completing The Survey after First Transaction

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Elbaite: A$21 Bonus Signup Credit to Purchase A$100 Worth of Crypto+ A$5 for Completing The Survey after First Transaction
Go to Deal
Sarinella on 08/01/2021 - 11:03 elbaite.io (112 clicks)

Elbaite is a 100% Australian owned and operated exchange. They have increased their sign up bonus to A$21 to celebrate 2021.

Simply sign up using one of the referral links and your A$21 bonus will reflect to your account. you can use the bonus to purchase crypto in their marketplace. step to step guide is as below as I was initially confused with their process:

1) Sign up using one of the referral codes.
2) do your KYC verification
3) add your external wallet address to your profile (BTC,LTC,ETH,…)
4) Go to market place and select the coin you want and hit "BUY"
5) choose one of the sellers that trades the min amount you are looking to purchase (the prices might be slightly higher than other exchanges but for a A$100 purchase it will equal to no more than a A$2 difference while you gain A21$ and no withdrawal fees)
6) enter the amount you want to buy and apply your A21$ promo. i.e. for a A$100 purchase, you will have to pay A$79.
7) select your wallet address which you want to send to (refer step 3, this could be any external wallet address, you can use your Celsius Network wallet to double dip the promo codes offered by them: https://www.ozbargain.com.au/search/node/celsius%20network)
8) you will be asked to send the money to the seller using payID. Don't forget to copy the reference code in your payment description
9) Done, The seller will send the crypto to your wallet within minutes.
10) you will be sent an email for a survey o complete where you can claim an extra A$5

referrals can be obtained here:
https://www.ozbargain.com.au/deals/elbaite.io#refinfo588

Referral Links

Referral: random (4)

$5 credit for referrer and referee.

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closed Comments

  • cpho on 08/01/2021 - 11:33

    The catch is that there is a 1.5%-2% spread on crypto plus 1% commission.

    Might be good for small volume purchases to get the $21 bonus, but no thanks.

    • whooah1979 on 08/01/2021 - 11:37

      It's a reasonable price to pay for a DEX.

      • cpho on 08/01/2021 - 12:12

        I'll let you duke out Dex or not in the other comments below, but it's still worth highlighting to people they're paying a few % more, especially on a bargain site.

        Majority of buyers won't care whether you purchase on or off an exchange anyway.

        • whooah1979 on 08/01/2021 - 12:21

          The majority of buyers don't know what keys are and would scream bloody murder when a CEX locks their account citing AML/CTF as an excuse. Noobs are already scared enough before entering this market (look at all the neg comments in the other posts). Imagine their account being locked and their funds held to ransom without understanding why.

  • Yafuturefavorite on 08/01/2021 - 11:34

    Always been keen to give crypto a try but have no idea where to start

    • SBOB on 08/01/2021 - 11:36

      Generally not at ath ;)

      • OzzyBrak on 08/01/2021 - 11:37

        nah. didn't you hear? this time it is different. this is the last chance to buy under 50K, next stop 250K. /s

        • SBOB on 08/01/2021 - 11:44
          +1

          I want to believe :)

          The first trillion marketcap is the hardest

    • bargineer on 08/01/2021 - 11:41
      +1

      You do you but I don't think it'd be wise to buy at all time highs

  • [Deactivated] on 08/01/2021 - 11:36

    Cheapest seller is about $52k while BTC is trading at sub $51k on other larger exchanges. This is not a deal.

    • Sarinella on 08/01/2021 - 11:37

      for a 100$ purchase it would be negligible comparing to $21 bonus. you can also try othe coins. I purchased LTC.

  • whooah1979 on 08/01/2021 - 11:44

    This is a DEX. The spot price is reasonable for anyone that wants an Australian onramp and trade while holding their private keys.

    https://www.elbaite.io/marketplace

    How to buy cryptocurrency in Australia on Elbaite

    1. Get a cryptocurrency wallet
      Make sure the wallet you get is suitable for your desired coin. For example, get a bitcoin wallet if you want to buy bitcoin.
      This is where you will store your purchased cryptocurrency.
      You can get a free online wallet or use a hardware wallet.
      Elbaite does not hold your cryptocurrency in their own centralised wallet. Elbaite believes, your cryptocurrency is only yours if it is in your wallet.

    2. Find an offer from a trusted seller
      You can find offers in Elbaite's marketplace by clicking the buy button next to the coin of your choice.
      Find an offer at a price and amount you would like to buy.
      Elbaite is a peer to peer crypto exchange that connects trusted sellers to trusted buyers through our unique TraderTrust system.

    3. Pay for your purchase
      Pay the agreed amount using your Australian bank account.
      On Elbaite you can pay using OSKO / PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your cryptocurrency in your wallet. The seller will never know your banking details, keeping your data private.

    https://www.youtube.com/watch?v=gB4wrX2iICA

    • OzzyBrak on 08/01/2021 - 11:52

      What is decentralised about it? It's a central exchange that sends the crypto to your own wallet.

      • whooah1979 on 08/01/2021 - 11:58

        Elbaite doesn't hold your private keys.

        • moph on 08/01/2021 - 12:09

          I would say that means it's a non custodial exchange, not a DEX. They do KYC.

          • whooah1979 on 08/01/2021 - 12:15

            @moph: Hmmm. KYC is unavoidable for onramps (AML/CTF). DEX/CEX sound ok.

          • OzzyBrak on 08/01/2021 - 12:32
            +2

            @moph: I agree with you, as that is how I understood it. My searching has revealed that is seems DEX has been watered down (by some sites) to mean you use your own wallet. Non-custodial is a far better way to describe it, however DEX and DeFi are buzz words so I guess they jumped on DEX.

            The key part of decentralised to me was that no single entity controlled the exchange, and the loss of that single entity wouldn't bring down the exchange.

            • moph on 08/01/2021 - 12:47
              +1

              @OzzyBrak: Yep. This is a centralised exchange which uses some of the mechanisms of a DEX to enable non custodial trading. Sounds like a good setup for some use cases, but definitely not a DEX. It's important to remember that the terminology has significance and not allow it to be hijacked for marketing purposes, particularly when appealing to newbies to crypto who may not understand the jargon.

  • sonore on 08/01/2021 - 13:03

    Thanks OP! A heads up- you must have $1.00 remaining when using the $5 survey code ($1.01 after fees). I managed to purchase 0.00205203 BTC total for $80.87, which is worth ~$102.49.

    • [Deactivated] on 08/01/2021 - 13:46

      How much did you lose in transfer fees from the seller's wallet to yours?

      • Sarinella on 08/01/2021 - 14:05

        there is no transfer fee

        • [Deactivated] on 08/01/2021 - 14:18

          No transfer fee by the website but the seller sending you your btc will have a transaction fee.

  • 9hcpz on 08/01/2021 - 19:55

    Only shows me $5 now. It seems expired.

    • tajid on 08/01/2021 - 20:23

      Yup unfortunately it does seem to have expired now.

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