You may have all heard a lot about Bitcoins, but what exactly is a Bitcoin? Have you ever thought about that question?
If not, you should consider it and also read our exclusive guide on the same: What is Bitcoin? A beginner’s guide.
In the past I have mentioned various exchanges for buying / selling Bitcoin that cover the international scene, but today I would like to talk specifically about Australia’s Bitcoin scenario.
Bitcoin is booming in Australia and it’s not just my guess. There are diagrams that support the narrative. (LBC charts are a good indication of BTC’s popularity in that country).
But for those Australians who have not yet embarked on their Bitcoin journey, here is a comprehensive list of popular services where Bitcoins can be purchased in Australia.
How to Buy Bitcoin in Australia |
Binance is the world’s largest cryptocurrency exchange, which naturally supports users from Australia to buy Bitcoin using AUD. You can create an account here (20% discount on trading fees), and by using PayID / Oskoyou can add money to your Binance account.
If now your first goal is to buy Bitcoin using AUD, simply click on buy crypto and use from many options to fund your account and buy crypto of your choice.
Since Binance offers the cheapest fees for buying / selling crypto, this should be your first choice to buy crypto using Australian dollars. Another benefit of Binance is that they have a fully functional mobile app that lets you shop with the comfort of your mobile phones.
Binance also offers advanced features such as Binance earn program where you earn interest by using their savings account. They also support betting features that let you earn passive income with your cryptocurrencies. And if you’re worried about taxation in Australia, Binance is integrated with all popular tax software like Koinly, Cointracker, making your job and your CPA easier.
The CEX.io service is one of the pioneering services in the cryptosphere that has been operating since 2013 from the UK, but the good news is that it supports more than 100 countries including Australia.
At CEX.io you can buy BTC in two ways:
- By depositing fiat currencies
- By checking out with their credit / debit card
If you are in Australia and have access to VISA / MasterCard debit / credit cards, you can register on CEX.io. Here is a comprehensive guide from CoinSutra that will help you in the KYC process: CEX.io Review.
When you finish KYC and register your cards, you will be allowed to buy more BTC depending on the level of KYC you have completed.
Coinmama (buy Bitcoin with a credit card Australia)
Coinmama is an Israel-based service that has been operating in the cryptosphere since 2013. And the good thing about this service is that almost every country in the world can avail of their services, including Australia.
Using Coinmama you can buy Bitcoins in Australia via a Visa / MasterCard credit / debit card. Remember, Coinmama is a buying service, which means you can not sell BTC here.
To get started with Coinmama, you need to register with your email ID, after which you will be asked to submit some documents to prove your identity. The more documentation you provide, the more currency you can buy at Coinmama. See our full review of Coinmama here: Coinmama Review: Analyze whether it is safe and reliable.
4. CoinSpot – Native Australian Bitcoin exchange
CoinSpot is Australia’s original Bitcoin exchange, which has been operating in this area since 2013 and has also gained some respect. It is registered to provide digital currency exchange services in Australia by AUSTRAC.
If you are Australian, it is very easy to start on CoinSpot, as verification hardly takes any time, and you can easily buy / sell BTC on it. It acts as a broker and also has its marketplace where you can view order books to buy / sell Bitcoin according to the fee schedule below:
Highlights of CoinSpot:
- Instantly buy / sell Bitcoin in AUD
- Open a personal or business account
- Instant account verification
- Various payment methods available including POLi, PayID, BPAY.
- Supports all Australian bank accounts
- Buy bitcoin cash in Australia
The overall Bitcoin community thrives in Australia, and CoinSpot has been at the forefront of buying / selling Bitcoin in Australia.
5. Kraken (Immediate deposit)
Kraken is a US-based stock exchange that has recently spread its wings in Australia. You will trade the most popular cryptocurrencies including Bitcoin, Ethereum and Litecoin along with Ripple, Bitcoin Cash and Tether against AUD.
You can instantly fund accounts via Osko and PayID activated Australian banks.
6. LocalBitcoins (LBC)
LocalBitcoins is a Finland-based P2P escrow exchange that facilitates the buying / selling of Bitcoin in more than 240 countries including Australia.
One can filter trades based on their country. For example, I have filtered from Australia. You can also choose from the following payment methods to find a specific type of retailer:
- LOOK AT
- Western Union etc …
Registering on LBC is also very easy and you can simply sign up using your email ID and get started by searching for suitable deals for yourself. This is the easiest way to buy Bitcoins in Australia using cash. See also our this guide for inspiration: How to buy bitcoins legally in India [Tutorial]
Fees are pretty nominal on LBC. The registration, purchase and sale of Bitcoin is complete for free. LocalBitcoins users who create ads are charged for one 1% fee for each completed trade.
Note: Transactions for wallets from other LocalBitcoins users are for free.
7. Changing (Instant Bitcoin exchange for Australians)
Changelly is our favorite service and we are happy that it covers Australia in its supporting countries.
Here you can simply sign up using your email ID and exchange any supported cryptocurrency for Bitcoins if you have one. If you do not, you can also buy Bitcoins using credit / debit cards.
You can check the exchange rates on USD / BTC here and decide for yourself when and how much you want to buy.
You can also use this direct widget to buy BTC in Australia and within 5-30 minutes your Bitcoin should be with you.
BitStamp is a household name for anyone who has been involved in the Bitcoin business. It is a UK-based exchange, a reliable exchange that has served the industry since 2011.
The good news is that BitStamp’s list of supported countries has Australia in it, which means you can buy Bitcoin in Australia via BitStamp.
This functionality is supported by VISA / Mastercard debit / credit cards processed through BitStamp. Before the trading process begins, a one-time confirmation (KYC) of your card details is required, after which you can buy BTC immediately.
The limits on the cards are up to USD 5,000 / EUR 5,000 daily and USD 20,000 / EUR 20,000 monthly. The fee schedule is given below for the cards:
|Any amount||5% (additional charge may be charged by the card issuer)|
9. Bitcoin ATMs in Australia
Another easy way to buy BTC in Australia is through Bitcoin ATMs.
The service that lets you find Bitcoin ATMs near you is Bitcoin ATM Radar. (See this if you experience problems: How to find a Bitcoin ATM near you.)
While some ATMs do not require ID, some do so before you can buy BTCs using the machine. You will also need Bitcoin wallets to receive your bitcoins. Just in case you do not have one, choose one from our trusted Bitcoin wallet list.
Also read: How to Use a Bitcoin ATM – A Beginner’s Guide
Conclusion: Buying Bitcoins in Australia