Australia is a growing crypto market, with the government recognizing cryptocurrencies as a form of property in 2017. As Bitcoin and altcoins soar to unprecedented heights, Australians are looking for the best exchanges to grant them exposure to BTC. We’ve identified the most popular exchanges for Australian Bitcoin investors to purchase or acquire BTC below, including those with popular cryptos and competitive rates.
How to Buy Crypto in Australia
Crypto is legal in Australia, and there are a number of options that will allow users to buy crypto either in Australian dollars, other fiat currencies like the Euro or GBP, or other cryptocurrencies. To buy crypto in Australia, select an exchange from the list below and follow the instructions to send Bitcoin directly to your exchange wallet.
Everything You Need to Buy, Sell and Manage your Cryptocurrency
Before we begin, let’s go over some key information. You’ll need to know some basics in how to store crypto and how crypto works before you begin.
How to Buy Crypto with Australian Dollars
Most exchanges don’t accept fiat currency (normal money) like the Australian dollar. However, with those that do, you can simply sign up, deposit fiat or normal money by direct bank transfers or debit card, and begin buying cryptocurrency. The payment method will depend on the exchange, although most fiat exchanges allow wire transfer as a payment method.
Before we begin, we’d like to highlight our own solution, which is much more than a crypto exchange.
CryptoWallet is a custodial exchange and wallet platform that allows you to spend cryptocurrency online and in any store. You can buy and sell major cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and Tether on the platform.
Users can order a crypto debit card to spend fiat or crypto on real-life goods and services, and even withdraw crypto as cash from an ATM. Funds are insured by BitGo and protected with 2-factor authentication features when enabled. You can send crypto to your wallet within minutes.
We offer unique IBANs and banking services to our users, and if you sign up new users, you’ll even earn a percentage of their debit card transaction fees.
Download CryptoWallet here
Swyftx is an Australian crypto exchange known for its wide range of cryptocurrencies and digital wallets. The exchange offers competitive fees as well as a low spread, the difference between the buy and sell price of a traded asset, making it a low-cost option for crypto users.
Swyftx also comes with an app and demo account for simulated trading for no-risk market insights. As well as various types of cryptocurrencies, it also accepts normal money such as AUD.
- Crypto Assets: BTC, ETH, and 240 other currencies.
- Trading Fee: 0.6%
- Deposit methods: PayID, OSKO, Bank Transfer & POLi
- Rating: 5/5
CoinSpot is an Australian cryptocurrency exchange platform that supports a wide range of cryptocurrencies and digital wallets, including Bitcoin. It features professional trading and investment features such as stop-loss and limit orders and markets itself as being suitable for beginners without skimping on the smaller details that appeal to other users. It offers a wide range of payment options and low fees, although cash deposits cost 2.5%.
- Crypto Assets: 280+
- Trading Fee: 0.1% – 1%
- Deposit methods: POLi, PayID, Direct Deposits, BPAY.
- Rating: 5/5
In crypto, Binance is the world’s largest exchange by trading volume. It offers 150 supported digital currencies and fees as low as 0.1%, two factors that helped its success. The interface and general user experience can be quite confusing, especially for new users. The exchange is also being investigated by the U.S. CFTC, and it’s unclear whether regulators will favor Binance in the future.
- Crypto Assets: 150
- Trading Fee: 0.1%
- Deposit methods: PayID / Osko
- Rating: 3/5
Digital Surge is an Australia-based crypto exchange with added features. Users can pay bills with crypto, for example, with the BPAY biller code. Users can be verified and begin send crypto to their wallet within minutes. The exchange has fewer deposit methods than competitors and low volume on the markets screen, and a wide selection of cryptocurrencies to choose from.
- Crypto Assets: Over 200
- Trading Fee: 0.1% – 0.5% (0.5% for trades under $100k).
- Deposit methods: PayID and Poli
- Rating: 3/5
The CoinJar exchange was founded in Australia in 2013. Users can buy Bitcoin and Ethereum among other assets. It’s known for having a practical, simple interface, albeit one that lacks more advanced trading and investment tools.
While other electronic money platforms have a wider range of options when it comes to crypto, there are no fees for most forms of cash payment on the CoinJar cryptocurrency exchange and no hidden costs.
CoinJar offers a large range of payment options for users depositing cash for digital assets. Cryptocurrency investors on the site have complained that the customer support team is relatively inactive, one of the details that ranked this platform slightly lower in our rating.
- Crypto Assets: 17
- Trading Fee: 0.1% – 0.5%
- Deposit methods: BPAY, NPP, Blueshyft, Direct debit
- Rating: 3/5
Independent Reserve is an Australian exchange that supports fiat money including the AUD, NZD, and USD along with 28 crypto coins. The Independent Reserve exchange has a referral program that allows users to earn part of the fees paid by friends that sign up. Founded in 2013, Independent Reserve is one of Australia’s earliest digital currency exchanges.
- Crypto Assets: 28
- Trading Fee: 0.2% – 0.5%
- Deposit methods: Electronic Funds Transfer, PayID, SWIFT
- Rating: 3/5
The Coinbase digital currency exchange is one of the world’s most popular exchanges with strong security and support for 50 coins and several fiat currencies, including Bitcoin and AUD. The exchange is known for its security and for being user friendly. However, the fees are not as low as some competitors, and customer service support is overburdened and slow. Australian users can only deposit traditional currencies like fiat through debit cards or credit cards. Using a debit or credit card, instant deposits are possible.
- Crypto Assets: Over 50
- Trading Fee: 0.5% per trade and 3.99% for fiat purchases or 1.49% for bank account purchases
- Deposit methods: Debit card
- Rating: 3/5
Kraken is a major U.S. exchange with 18 AUD-cryptocurrency trading pairs and many other supported cryptos. Unlike Coinbase, Kraken supports bank transfers for Australian residents, although cash deposits will be met with a 72-hour hold, making Kraken the cheaper and less instant option of the two.
Gemini is a U.S. exchange with 20 supported cryptocurrencies including Bitcoin. Currency exchange fees are higher than many competing peer-to-peer exchanges. However, there is a market for Gemini due to its advanced trading tools and features.
- Crypto Assets: 20
- Trading Fee: 0.5% per trade and 3.49% for fiat purchases or 1.49% for bank account purchases
- Deposit methods: Wire transfer or credit/debit card
- Rating: 3/5
eToro is an Israeli asset brokerage and trading company that allows users to buy many assets including stocks, CFDs, and cryptocurrencies like Bitcoin, Ethereum, and more. There’s no fee for depositing funds, but users must trade in USD, so Australian users need to pay currency conversion fees between 0.5% – 1%. The Bitcoin exchange allows traders to mimic the trades of other advanced traders.
- Crypto Assets: 14
- Trading Fee: No commissions or trading fees, only spreads (0.75% for Bitcoin)
- Deposit methods: PayPal, bank transfer, credit card
- Rating: 3/5
Is Cryptocurrency legal in Australia?
Yes, cryptocurrency has a legal status in Australia and is officially recognized as property by the relevant regulators in Australian finance’s regulatory framework.
What is the best Crypto wallet in Australia?
CryptoWallet allows users to store Bitcoin, Litecoin, Ripple, Tether, and Ethereum and even spend crypto online and in stores with a debit card. The step-by-step process of how to use Crypto Wallet is simple. Step one: download the app here!
How do I not pay tax on Cryptocurrency in Australia?
Crypto is classed as property, so if you make a profit selling cryptocurrency, you’ll need to pay capital gains tax on that profit. Additionally, if you earn crypto as a form of income, you’ll need to pay income tax on top of that. Businesses that earn crypto income need to declare it as ordinary income, and freelancers or sole traders also need to pay ordinary income tax on earned crypto.
What is the price of Bitcoin in Australia?
The market price of Bitcoin is the same worldwide, although certain exchanges and trading platforms may have minute differences in prices and exchange rates from time to time. You can monitor the live price of everyone’s favorite crypto as well as buy, sell, and even spend Bitcoin with CryptoWallet — download it now to try it out!
Bitcoin Wallet App
To send Bitcoin, you simply need to copy the address or public key you’re sending money to and paste it into the recipient section.
This process is guided with on-screen instructions.
To open a Bitcoin wallet, simply download the app for Android or iOS below!