How Do We Buy Bitcoin Safely As A Business - Featured Image

How Do We Buy Bitcoin Safely As A Business?

Byloc

Your Step-by-Step Guide To Corporate Bitcoin Adoption

Buying Bitcoin personally is easy.

Buying Bitcoin as a company requires a safer and more strategic approach.

Between compliance, custody, accounting and treasury governance, businesses need a clear roadmap before making their first purchase. This guide walks you through how to safely, securely and compliantly buy Bitcoin as a business—the same process used by professional treasury teams.

1. Use A Corporate-Friendly Bitcoin On-Ramp

Retail exchanges are not built for business use.

Corporate accounts offer:

  • Australian compliance (KYC/AML)
  • Director verification
  • Business-grade security
  • Clean documentation for accountants

We like Strike because:

  • They are Bitcoin only, not Crypto
  • Allow you to create multi user business accounts
  • Allow you to buy and sell Bitcoin
  • Integrate with Ecommerce platforms such as Shopify so you can start accepting Bitcoin for your products and services
  • Allow you to borrow money against your Bitcoin
  • Offer good online support

Pro Tip: Only purchase Bitcoin from AUSTRAC-registered providers with a dedicated corporate onboarding process.

2. Prepare Your Business Documentation

To open a corporate exchange account, you’ll usually need:

  • ACN / ABN
  • Certificate of Incorporation
  • Company constitution
  • Director ID + verification
  • Proof of business address
  • Shareholder structure
  • Bank account in the company name

Preparing these ahead of time speeds up onboarding significantly.

3. Create A Bitcoin Treasury Policy

Before buying, establish a clear policy that defines:

  • Why the business is acquiring Bitcoin
  • Your allocation strategy (e.g., 5% of reserves)
  • Purchasing method (lump sum or DCA)
  • Sign-off and approval workflows
  • Custody method
  • Recovery and backup procedures
  • Audit and reporting requirements

A treasury policy is essential for director confidence and clean governance.

4. Decide How You Will Custody Your Bitcoin

You don’t truly own Bitcoin until you control the private keys.

A. Self-Custody (Recommended For Most SMEs)

Use a hardware wallet or multi-signature setup.

Examples:

  • Coldcard
  • Ledger Business
  • Trezor
  • Unchained Multi-Sig
  • Nunchuk

B. Institutional Custody

Third-party custodians hold keys on your behalf. Best suited for enterprises.

C. Hybrid / Collaborative Custody

Multiple keys held by multiple parties (e.g., 2-of-3 multi-sig).

Ideal balance of control and redundancy.

Important: Never store corporate Bitcoin on an exchange long-term.

5. Fund Your Corporate Exchange Account

For clean accounting:

  • Fund your exchange account only from a business bank account
  • Avoid mixing personal and business funds
  • Store all invoices, receipts and statements

This ensures transparency for your CFO, bookkeeper and ATO reporting.

6. Execute Your Bitcoin Purchase

Businesses typically buy Bitcoin in two ways:

Lump Sum Purchase (OTC Desk)

Great for larger buys ($20k–$20m).

Benefits:

  • Locked-in price
  • Priority settlement
  • No slippage

Dollar-Cost Averaging (DCA)

Buy set amounts weekly or monthly.

Benefits:

  • Reduces volatility risk
  • Predictable allocation
  • Ideal for cash-flow management

Many businesses start with a lump sum and continue with a DCA strategy.

7. Withdraw Bitcoin Immediately To Your Custody Solution

The safest workflow is:

  • Buy on a corporate exchange
  • Transfer directly to your business wallet
  • Verify the receiving address
  • Confirm transactions before storing backups

Exchanges are for buying, not storing.

8. Implement Robust Internal Controls

Bitcoin security is operational security.

Put in place:

  • Multi-person approval workflows
  • Dual-control procedures
  • Key backups stored securely offsite
  • Annual recovery drills
  • Detailed access logs
  • A business continuity plan

This protects your company from internal risks, lost access and human error.

9. Keep Clean Accounting And Tax Records

Under AASB/IFRS standards, Bitcoin is treated as an intangible asset.

Maintain:

  • Exchange receipts
  • Wallet history
  • Transfer records
  • Realised/unrealised gain reports
  • Impairment calculations

Useful tools include:

  • Bitwave
  • Koinly
  • Ledgible
  • Xero crypto plugins

Your accountant will thank you later.

10. Train Your Team And Review Your Strategy Regularly

Education is the foundation of safe Bitcoin adoption.

Train your team on:

  • Key management
  • Security procedures
  • Wallet operations
  • Treasury policy
  • What to do in an emergency

Then review your Bitcoin position quarterly or monthly depending on business size.

Final Summary

Buying Bitcoin for your business is safe and straightforward when you follow the right process:

  • Use a corporate crypto provider
  • Prepare your documentation
  • Create a treasury policy
  • Choose a custody model
  • Fund via business bank account
  • Buy Bitcoin (OTC or DCA)
  • Withdraw to secure custody
  • Implement internal controls
  • Keep compliant accounting records
  • Educate your team

Executed correctly, Bitcoin becomes a powerful long-term strategic asset that strengthens business resilience and treasury performance.