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How to safely buy Bitcoin in   (2021)

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%.

Lachlan Adams
Asia/Oceania Editor at Buy Bitcoin Finder
Last edited: 
July 14, 2021

Is Buying Bitcoin Legal in Australia?

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.

How to buy Bitcoin in 2021

Buying Bitcoin in Australia can be confusing because traditional investment onramps like CommSec and NAB Trade do not offer a way for investors to purchase digital assets.

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 best Bitcoin exchanges in Australia

The table below presents a high-level comparison of the top 3 Bitcoin exchanges in Australia.

Image Image Image
Total Fees 0.1 - 1% 0.02 - 0.5% 0.6%
Cryptos Available Bitcoin, Ethereum, Dogecoin, Cardano, XRP, Shiba Inu + 250 more Bitcoin, Ethereum, Polkadot, Chainlink, AAVE, USDC, USDT + 30 more Bitcoin, Ethereum, Binance Coin, Polygon, Uniswap + 200 more
Year Founded 2013 2013 2017
Headquarters Melbourne, Australia Sydney, Australia Brisbane, Australia
Deposit Options Bank Transfer, Cash Deposit, PayID/Osko, POLi and BPAY Bank Transfer, PayID/Osko and SWIFT Bank Transfer, Credit Card, Debit Card, PayID/Osko
Beginner Friendly Image Image Image
iOS and Android App Image Image Image
Fiat Currencies AUD only AUD, NZD, USD and SGD AUD only
Website Visit CoinSpot Visit Independent Reserve Visit SwyftX ($10 Free Promo)


Bitcoin exchange reviews

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.


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CoinSpot (Overall Best)

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.

Pros

  • Wide range of Australian bank accounts on CoinSpot
  • CoinSpot is a respected and regulated exchange
  • Easy to use CoinSpot app

Cons

  • Fees for instant buys are 1%
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Independent Reserve Australia

Independent Reserve is Australia’s longest running Bitcoin and cryptocurrency exchange that was recently awarded Cryptocurrency Exchange of the Year 2019.

They offer an easy to use platform with the lowest fees  and instant AUD, USD and NZD deposits. Buy Bitcoin Finder recommends Independent Reserve for users in Australia, New Zealand and Singapore.

Pros

  • Renown and trustworthy Australian exchange
  • Very low fees and wide range of payment methods
  • Instant deposits with AUD and support for NZD and USD

Cons

  • User interface may be confusing for first time buyers
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Digital Surge Crypto

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.

Pros

  • Lowest fees in Australia for instant trading
  • Multi-layered security for safe custody
  • Extremely easy to use interface for web and mobile

Cons

  • Credit Card transactions not supported
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FTX Australia

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.

Pros

  • Great for advanced Bitcoin traders in Australia
  • Add leverage to your Bitcoin trades
  • Low fees starting at 0.1%

Cons

  • Difficult for beginners to crypto
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SwyftX Exchange

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.

Pros

  • Good range of cryptocurrencies to buy
  • SwyftX exchange offers low fees
  • Simple and easy to use Swyftx app

Cons

  • Relatively new exchange in Australia
  • Platform only trades in USD, which incurs and FX fee.
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Binance Australia

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.

Pros

  • The best exchange in the world to trade cryptocurrency
  • Binance offers margin trading, futures and various Bitcoin and crypto pairs
  • Low AUD deposit fees

Cons

  • Fees for day traders can get expensive if you do not trade using Binance coin
  • Difficult user interface for new users of Bitcoin exchanges
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Coinstash Australia

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.

Pros

  • Clean and simple user interface
  • Easiest way to buy Bitcoin, ETH & XRP
  • Best customer service team in Australia

Cons

  • Relatively new exchange in Australia
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Coinbase Australia

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.

Pros

  • Easy way to buy cryptocurrency in Australia
  • Instant buy available with a debit card
  • The largest and most trusted exchange worldwide

Cons

  • Fees can be high with debit card purchases only
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Gemini Australia

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.

Pros

  • A very highly regarded global brand
  • Easy to use iOS and Android app
  • Great selection of cryptocurrencies to buy in Australia

Cons

  • Not the best option for users in Australia
  • Doesn't have as many payment methods as local exchanges
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Coinmama Australia

Coinmama is an international exchange that lets users purchase Bitcoin, Ethereum and a range of other cryptocurrencies using a Credit Card or Debit Card (Visa and Mastercard).

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.

Pros

  • Buy BTC with a Debit Card and Credit Card in Australia
  • Highest limit to purchase crypto using a Credit Card
  • Reliable and trustworthy exchange

Cons

  • High fees when using a Debit Card or Credit Card
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Local Bitcoins Australia

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.

Pros

  • The best choice for privacy in Australia
  • Requires no personal information or extensive KYC
  • Buy Bitcoin with cash in Australia

Cons

  • Users must be careful of scams
  • Slightly higher Bitcoin price than exchanges
  • In person transactions can be dangerous
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Bitaroo Bitcoin Exchange

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, WestpacING 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.

Pros

  • Australia's biggest Bitcoin only exchange
  • Low fees and tight spreads
  • Great variety of features

Cons

  • Relatively new cryptocurrency exchange
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BTC Markets

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%.

Pros

  • Great liquidity for BTC/AUD
  • Low fees and fast deposits

Cons

  • User interface can be confusing
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Cointree

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.

Pros

  • Long running and trusted Australian Exchange
  • Over 100 cryptocurrencies to buy, sell and trade
  • Clean and simple user interface for new users to buy Bitcoin

Cons

  • Fees can be around 1%
  • Spreads on Bitcoin can be non-competitive
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Relay Pay

RelayPay is a crypto payment solution that supports buying and selling of Bitcoin and 20 other crypto assets with a bank transfer, Credit Card or Debit Card.

They charge zero deposit fees when you add Australian Dollars to you account and low fees for trading.

Pros

  • Buy Bitcoins with Debit Card or Credit Card in Australia
  • Zero deposit fees when depositing Australian dollars
  • You can pay bills using your crypto via RelayPay

Cons

  • Small selection of cryptocurrencies
  • Wide spreads on crypto assets
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Hard Block

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.

Pros

  • Buy Bitcoin with instant verification
  • No trading fees when buying or selling BTC

Cons

  • Very wide spreads
  • They only offer BTC, no altcoins
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Caleb and Brown Brokerage

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.

Pros

  • A personalised Bitcoin brokerage firm with white-glove service
  • They will help you set up your SMSF and purchase crypto via your SMSF account

Cons

  • Extremely high fees
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Mine Digital Crypto Exchange

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.

Pros

  • Good depth due to market makers
  • Secure Australian Bitcoin exchange

Cons

  • Not many users
  • Difficult platform for newbies to Bitcoin
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Coinjar Australia

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.

Pros

  • Easy way to buy Bitcoin with a Mastercard in Australia
  • Very slick and intuitive iOS and Android App.

Cons

  • Checkered history within the Bitcoin and crypto community
  • Fees to trade on Coinjar are high
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Easy Crypto Australia

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.

The Easy Crypto fees for trading are expensive and start at 0.9%. Read our full Easy Crypto review for more information.

Pros

  • Instantly buy over 45 cryptocurrencies

Cons

  • Relatively unknown exchange
  • Not the cleanest and easiest UI
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Coinloft Crypto Broker

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.

Pros

  • Credit card and cash purchases

Cons

  • Up to 4% in fees
  • ID verification required for cash payments
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Crypto guides for Australians

Check out some other helpful guides around Bitcoin investing and trading in Australia.

Bitcoin OTC Broker 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.

SMSF Investing in Bitcoin

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.

What is the price of Bitcoin AUD?

Keep up to date with the latest price in Bitcoin on our dedication Bitcoin Price AUD page.

The Best Bitcoin Exchanges in Australia

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.

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