Summary: The best way to start buying Bitcoin is through Australia's largest and most popular digital asset trading platform CoinSpot. Their platform offers fast and cheap Australian Dollar (AUD) deposits via multiple deposit methods and have low trading fees starting at 0.1%.
Yes. In 2017, the Australian government issued a notice that Bitcoin was legal and subject to Capital Gains Tax (CGT). The Australian Taxation Office (ATO) then issued clear guidelines around cryptocurrency taxation shortly after.
There are however over 250 different cryptocurrency exchanges in Australia that are regulated and safe to use for Bitcoin investing. In this guide, we breakdown some of the best Bitcoin trading platform Australia to help you find the right place to start buying BTC.
The table below presents a high-level comparison of the top 3 Bitcoin exchanges in Australia.
The cards below are reviews of the best Bitcoin investing and trading platforms in Australia. You can quickly compare over 20 Australian Bitcoin exchanges to get started.
Established in 2013, CoinSpot is one of the longer running Bitcoin and cryptocurrency exchanges in Australia. CoinSpot offer Bitcoin, Ethereum, Dogecoin and over 250 different cryptocurrencies with a simple and easy to use interface for beginners to buy Bitcoin and different digital assets.
Their exchange has quickly grown to be a favoured choice among retail investors due to the large range of cryptocurrencies and their easy to use CoinSpot App. Read our full CoinSpot Review for more information.
Independent Reserve is Australia’s longest running Bitcoin and cryptocurrency exchange that was recently awarded Cryptocurrency Exchange of the Year 2019.
Digital Surge is a leading digital asset exchange in Australia that enables easy onboarding and low fee trading. Their platform offers a uniquely user-friendly experience with one of the cleanest dashboards and trading user-interfaces around the world.
FTX is one of the largest crypto trading platforms in the world that offers a very diverse product suite for advanced traders. Their platform allows users to not only buy and sell Bitcoin, but also take on a leveraged position, and even lend out your Bitcoin to earn interest.
Although the FTX Exchange is based in Hong Kong, they take direct AUD deposits with near instant settlement with certain deposit methods.
Swyftx are an exchange based in Brisbane, Queensland that boasts an easy to use trading platform with a wide range of cryptocurrencies, tiny spreads, low fees and strong liquidity.
Their platform has advanced order types such as stop losses, take profits that work well across mobile and desktop. They are well in tuned with the local community in Australia and regularly add new coins as requested by their userbase.
Binance is the the world’s largest Bitcoin and cryptocurrency exchange. Their platform enables users to purchase Bitcoin and other cryptocurrencies with Australian Dollars (AUD) from their Commonwealth bank account, ANZ bank account or Westpac bank account with zero fees when depositing with PayID.
As it stands, they offer over 8 Australian Dollar pairs including Bitcoin, Ethereum, Litecoin, Chainlink and more. You can also trade over 200 different cryptocurrencies using Tether or USDT on the Binance app.
Coinstash is a new exchange based in Brisbane Australia that provides a sleek user interface for customers to buy, sell and trade Bitcoin, Ethereum and more. They also offer a quick and easy sign up process that enables new users to get started buying Bitcoin in under one minute.
Coinbase is a world renown Bitcoin exchange located in the United States that is open to many countries including Australia. Boasting over 30 million users, Coinbase enables customers to easily and securely buy Bitcoin and over 50 other cryptocurrencies all in one place.
It is important to note that Coinbase Australia is not the same experience as their product in the United States. While Coinbase is available in Australia, it only allows users to buy crypto with a Debit Card or Credit Card, but you cannot sell. Further to this the Coinbase fees in Australia are very expensive and start at 3.99% per purchase.
Gemini is a a well known exchange based in the United States that was founded by famous venture capitalists, the Winklevoss twins. While it is based in the United States, their platform still enables users to buy cryptocurrency in Australia with a good variety of payment methods.
Their cryptocurrency exchange offers both a web application and iOS/Android apps for easy and fast ways to buy Bitcoin and other cryptocurrencies.
They are one of the only options in Australia to invest in Bitcoins with a Credit Card, but also have some of the highest fees in the country at around 5%. We only recommend this exchange for Australians if you need to buy crypto with a Credit Card.
Local Bitcoins is a decentralized Bitcoin exchange that facilitates peer to peer transactions of Bitcoin. Their platform enables users to buy and sell Bitcoin for cash, or using direct deposits with other users in Australia.
They provide a safety net by acting as an escrow service that allows for users to securely transact in a peer to peer manner. Users have the option to pay for Bitcoin online, or meet in person and complete the transaction for cash. You can also buy Bitcoin anonymously with a prepaid card transfer.
Bitaroo is a new exchange that has quickly developed a loyal following by being the first "Bitcoin only" exchange in Australia. You can purchase Bitcoins with an ANZ, Westpac, ING or any other major bank account.
Bitaroo offers extremely low fees & spreads, a slick UI and other features such as Automated Dollar Cost Averaging, advanced order types, an OTC desk and SMSF support.
BTC Markets is an order book exchange based in Melbourne Australia where users can buy Bitcoin, Ethereum, XRP and other cryptocurrencies. They are one of Australia's longest running exchanges that are known for their great liquidity when buying Bitcoin with Australian Dollars (AUD).
BTC Markets Fees are relatively cheap at 0.85% - but are beaten out by Independent Reserve who start at 0.5%.
Cointree Australia is a digital asset exchange based in Melbourne that offers over 100 different altcoins for very low fees. Cointree boasts over 80,000 users and have been operating since 2013.
They charge zero deposit fees when you add Australian Dollars to you account and low fees for trading.
Hardblock is an Australian Bitcoin exchange that has been in operation since 2016. They support Bitcoin only and are the first Australian exchange that charges no fees, however they do make money on their wide spread.
For example, the price to buy Bitcoins on Hardblock is $AU 50,000, but you can only sell for $AU 49,500. This makes Hardblock a fast, but not a very cost effective option for purchases.
Caleb and Brown are one of the leading personalised crypto brokerage firms in Australia. They provide white-glove service for clients in Australia looking to buy large amounts of Bitcoin, or looking to buy Bitcoin with their SMSF.
Our Caleb and Brown review found that although they do provide great services, it does come at a cost. The Caleb and Brown fees to transact can be upwards of 3% and are ultimately an inefficient way to buy large amounts of crypto.
Mine Digital is an Australian based Bitcoin and cryptocurrency exchange that was developed primarily for traders. They enable users to buy Bitcoin , Ethereum, Chainlink and many other cryptocurrencies with a Westpac Bank Account, Bank of Queensland Account, NAB Account and much more.
Mine Digital also offer a Bitcoin OTC Desk, insurance on crypto assets and an RFQ system for high volume trades.
Based in the United Kingdom and Melbourne, Coinjar provides an easy way for Aussies to instantly buy Bitcoin with a prepaid Mastercard or VISA. Their platform has a dedicated iOS and Android App, making it one of the easiest ways to quickly invest in crypto.
Is Coinjar Safe? It is important to note that Coinjar was hacked and was founded by Zhou Tong who has a dubious history within the Bitcoin community. With that said, Coinjar is still a safe exchange with a lot of Australian users. Learn more about Coinjar Fees.
Easy Crypto Australia is the Australian equivalent of Easy Crypto New Zealand that enables users in Australia to buy Bitcoin, Ethereum, Chainlink and another 42 different cryptocurrencies on their easy to use instant buy platform.
CoinLoft is a Bitcoin broker based in Richmond, Victoria in Australia. They enable users to purchase Bitcoin with cash, credit card and POLipay.
When you invest in Bitcoin with Coinloft, they act as an agency service to find you the best Bitcoin price in Australia. Unlike other exchanges that have instant delivery, they will generally deliver the Bitcoin or Ethereum to your wallet within the hour. This is a good local option if you are looking to buy Bitcoin in Melbourne with a local exchange.
Check out some other helpful guides around Bitcoin investing and trading in Australia.
If you are a high-net-worth person looking to buy Bitcoin shares (over $100,000 AUD) - we recommend you check out a Bitcoin OTC desk in Australia. Bitcoin OTC desks offer a personalised and secure service that enables you to buy over $100,000 AUD worth of Bitcoin without worrying about disrupting the order book or getting a bad price.
Buy Bitcoin Finder’s recommended exchange for institutional investors looking for the best OTC service is Independent Reserve. They offer white glove service, insurance on crypto assets, quick settlement and the most competitive pricing in Australia. You can purchase large amounts of BTC or crypto with a Bank Transfer from a Commonwealth Bank Account, ANZ Bank Account, NAB Bank Account or Westpac Bank Account.
Tens of thousands of forward thinking Australian's are making the most of the tax advantages underpinning SMSF accounts to buy Bitcoin everyday. This thanks to the ATO's recent ruling that allows you to buy Bitcoin with your SMSF in Australia (max 90% allocation).
Check out our guide on Crypto SMSF investing in Australia.
Keep up to date with the latest price in Bitcoin on our dedication Bitcoin Price AUD page.
It can be difficult trying to break down which cryptocurrency exchange is best for you when there is over 250 registered crypto exchanges in Australia. It can be more difficult to trust exchanges because you can not yet buy Bitcoin on the ASX.
So, if you are looking for a more in depth review of a few select Bitcoin exchanges in Australia, we recommend you check out our guide on the best cryptocurrency exchanges in Australia.
This extensive guide takes a look at our five favourite exchanges to buy crypto and compares them against each other. Here we break down key aspects of an exchange such as fees, deposit methods, trading interface and much more. Learn the best ways to buy exotic coins like Shiba Inu or how to buy Safemoon.