This article has compiled the top 10 websites to buy Bitcoin in Australia. Choosing a suitable wallet for your crypto is an important part of the crypto investment process.
It will ensure that your digital currency is kept safe at all times, and it will also enable you to send and receive funds with ease.
This article will explore the top sites where to buy bitcoin in Australia.
Is Bitcoin Taxable in Australia
Bitcoin and other cryptocurrencies are not considered money or foreign currency by the Australian Government. It is seen as an asset that attracts capital gains tax (CGT) and income tax.
Is Buying of Bitcoin Legal in Australia
Cryptocurrency, digital currencies, and cryptocurrency exchanges are legal in Australia. But all cryptocurrency exchanges must have to register with the Australian Transaction Reports and Analysis Centre (AUSTRAC) in line with Part 6A of the AML/CTF 2006 rules.
Top 10 Best Sites to Buy Bitcoin in Australia
Here is a list of where to buy bitcoin in Australia.
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CoinSpot
CoinSpot is a common place to buy Bitcoin in Australia & also other cryptocurrencies. It was established in the year 2013. It offers a simple and easy-to-use interface with a broad choice of features. Users can make down payment via PayID, BPAY, POLi, direct deposit, or cash deposit.
The exchange backs up Ethereum (ETH), Litecoin (LTC), Bitcoin (BTC) & 100+ other coins. Also available is OTC trading.
PROS
- A comprehensive range of cryptocurrencies
- A local exchange based in Australia
- Certified with AUSTRAC
- 24/7 available assistance
- Instant and free down payments
CONS
- Verification of ID is needed when depositing funds
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Swyftx
Swyftx makes buying crypto highly easy for starters with simple to comprehend excellent guides, fast chat support, a user interface, and an app for every device. It was founded in the year 2017.
PROS
- 230 trading pairs
- A lot of payment techniques
- fast chat and phone support
- Assists automatic periodic purchases
- Immediate verification
CONS
- Verification of ID is needed when depositing AUD
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Capital.com
Capital.com is one of the sites where to buy bitcoin in Australia; it provides its users access to over 6,400 assets capable of being traded at low fees.Capital.com is considered the most technologically developed crypto exchange to buy Bitcoin.
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CoinJar
CoinJar was founded in 2013. It is the simplest way to sell, buy, store and spend digital currency. CoinJar iOS and Android apps permit users to trade cryptocurrencies on the go.
PROS
- Australian crypto exchange was founded in 2013
- Nominal trading fees at just 1%
- prompt bank transfer with NPP/Osko/PayID
- Clean Interface makes it easy for the first-timers
CONS
- Verification of ID is needed to trade
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Independent Reserve
Independent Reserve was founded in 2013. It is one of the majority of the trusted exchanges where to buy bitcoin in Australia & New Zealand. You can purchase Bitcoin using Osko/PayID, POLi, EFTand SWIFT. They use encoded, geo-dispersed data centers and top-tier underground vaults to safeguard your data and crypto.
PROS
- Fees start at 0.5%; however, they may fall to as low as 0.05%, depending on trading volume.
- supports for NZD,USD and AUD
- wide range of payment methods
- support automatic purchasing at a fixed time interval
CONS
- For first-timers user interface is confusing.
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eToro
This is a trading platform and crypto exchange. It supports cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Zcash, etc.
Deposits can be made to etoro quickly through bank transfer, SEPA, NETELLER, PayPal, and more. Etoro also offers unique features such as copy trading.
PROS
- Offers unique features like copy trading
- A trusted platform that has been active in traditional finance
- The Interface is clean and very easy to use
CONS
- You can’t deposit cryptocurrency, but you can deposit with other payment methods
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BuyaBitcoin
BuyaBitcoin is an Australian Bitcoin exchange. You can buy bitcoin via cash deposit for a 4.9% fee. Coins in BuyaBitcoin are usually delivered within an hour.
PROS
- Fast delivery of bitcoins
- Phone number is the Only verification required
CONS
- It has High fees for buying bitcoins with cash
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Easycrypto
It is a non-custodial trade that supports over 40 cryptocurrencies, including Ethereum, XRP, and Bitcoin. easycrypto.com also provides a full OTC desk for Corporate and SMSF trading.
PROS
- 1% fees
- Fees are simple to comprehend- no concealed fees
- Non-custodial
CONS
- Not many payment choices; however, more to come later this year
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Coin Loft
Coin Loft is a Bitcoin broker where you can buy bitcoin in Australia using a cash deposit, credit card, Flexepin, and POLi. If you buy with cash, the coins will be delivered within an hour.
PROS
- It is an established and trusted broker
- Wide range of payment options
CONS
- The 4% fee is rather expensive for cash purchases
- The 9% cumulative fee for credit card purchases is very high
- Identity verification is a must, even for cash payments
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Digital Surge
Digital Surge is an Australian broker that offers safe and less stressful trading to its users. There are no hidden fees, and the price you see is the price you will pay.
PROS
- It has 250 tradable assets
- It has Low fees
- It has Guaranteed quotes
CONS
- Identity verification needed to deposit and withdraw AUD
- Additional verification required to withdraw crypto
Bitcoin ATM in Australia
These bitcoin ATMs, or dispensers, are different from traditional cash machines; they do not connect to a bank account; instead, they connect users to a Bitcoin wallet or exchange. This way, they can convert their physical money into digital currency.
Here we have Listed cities in Australia with bitcoin ATM installations:
- Adelaide 4
- Brisbane 6
- Canberra 1
- Launceston 1
- Melbourne 15
- Newcastle 1
- Perth 4
- Surfers Paradise 1
- Sydney 12
- Tweed Heads 1
- Wollongong 1
Share your experience with us in the comment section if you have used any of the above mentioned sites for your trade.
Watch the video below to know where to buy Bitcoin in Australia:
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