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Buy Bitcoin & Crypto in Australia

Bryan Aulds
Bryan Aulds
Updated: 2nd March 2021

Disclaimer: This page includes affiliate links. When you make a purchase through one of our links, we may receive commissions.

Australia is a major hub for Bitcoin, and one of the most friendly in terms of tax laws and regulation. Australia also recognizes Bitcoin as a currency which makes owning and trading Bitcoin in the country easier than most.

LocalBitcoins daily trading volume in Australia is .... The current price of Bitcoin is .... There are ... Bitcoin ATMs available to Australia residents. And ... businesses accept Bitcoin in Australia.

Most Popular Exchanges in Australia

Coinmama Logo

Coinmama

Founded 2013

Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.


Independent Reserve Logo

Independent Reserve

Founded 2013

Established in 2013, Independent Reserve is Australia’s most trusted cryptocurrency exchange and OTC trading desk. Over 170,000 customers from Australia, New Zealand and Singapore trust Independent Reserve to easily buy and sell Bitcoin, Ethereum, XRP and other major cryptocurrencies. Independent Reserve offers a range of innovative features, including insurance on crypto assets, AutoTrader, KPMG tax estimator, API integration and world-class security.


CHAPTER 1

Bitcoin & Cryptocurrency Trading in Australia

The cryptocurrency exchange you use will depend on what your goals are. Some people buy only bitcoin, while some buy many cryptos. Some trade, while some buy and hold.

We'll outline some of the best options for each type of buyer and trader.

Bitcoin mobile transfer
Bitcoin mobile transfer

Best for Buying

If your only goal is to buy Bitcoin, Ethereum or another coin, the following exchanges have smooth and easy buying processes:

Bitcoin blockchain
Bitcoin blockchain

Best for Trading

If you plan on trading in and out of different coins, the following exchanges support many cryptocurrencies:

Now, let's give a bit deeper into some of the exchanges mentioned above with our detailed overviews.

CHAPTER 2

Top Cryptocurrency & Bitcoin Exchanges in Australia

Coinmama Logo

Founded 2013

Coinmama Logo

Coinmama Popular

Founded 2013

Coinmama Popular

Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.

Visit Site More

PROS

  • Super Fast Withdrawal
  • Higher privacy that most exchanges
  • Super convienent and easy to use
  • One of the few places to buy bitcoin using credit cards

CONS

  • Higher fees than some other exchanges

Supported Fiat:Yes

Payment methods include:Credit Card Debit Card Wire Transfer

Headquarters: Israel

Bitcoin mobile transfer icon

Ease of Use

Super easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Medium

Reputation icon

Reputation

Excellent

Limits icon

Limits

-

Visit Site Read Review
Independent Reserve Logo

Founded 2013

Independent Reserve Logo

Independent Reserve Popular

Founded 2013

Independent Reserve Popular

Established in 2013, Independent Reserve is Australia’s most trusted cryptocurrency exchange and OTC trading desk. Over 170,000 customers from Australia, New Zealand and Singapore trust Independent Reserve to easily buy and sell Bitcoin, Ethereum, XRP and other major cryptocurrencies. Independent Reserve offers a range of innovative features, including insurance on crypto assets, AutoTrader, KPMG tax estimator, API integration and world-class security.

Visit Site More

PROS

  • Instant deposits and withdrawals via PayID
  • Individual, business, SMSF & trust account types
  • Low fees & 24/7 support
  • Built-in tax estimator

CONS

  • No mobile app
  • No credit or debit card deposits

Supported Fiat:Yes

Payment methods include: EFT & PayID SWIFT Wire Transfer

Headquarters: Australia

Bitcoin mobile transfer icon

Ease of Use

Average

Privacy icon

Privacy

Low

Speed icon

Speed

Fast

Fees icon

Fees

Low

Reputation icon

Reputation

Excellent

Limits icon

Limits

Medium

Visit Site Read Review
CHAPTER 3

Best Bitcoin Wallet for Australia

Bitcoin wallets are just software or hardware, so the truth is that wallets can work in any country.

However, we've highlighted some Bitcoin wallets we think would be good for Australia users here.

Trezor Model T
Best for Security

Trezor Model T

Secure storage with high res color touch screen

Read Review

The Trezor Model T is perfect for long term holders of many coins. It's full color high resolution touch screen makes it easy to navigate and advanced features make it the most secure hardware wallet

Ledger Nano X
Best for Traders

Ledger Nano X

Secure Storage with Bluetooth Functionality

Read Review

The Ledger Nano X is great for traders who need to access their coins on the go. The on-board Bluetooth functionality allows you to access your coins on your mobile device.

Electrum Logo
Best for Desktop

Electrum

Multi-feature desktop wallet that works with hardware wallets.

Visit Website

Electrum is a Bitcoin-only desktop wallet that offers many advanced features for higher level users. It is best paired with a hardware wallet.

CHAPTER 4

More Bitcoin Exchanges in Australia

Most Popular Exchanges in Australia

Coinmama Logo

Coinmama

Founded 2013

Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.


Independent Reserve Logo

Independent Reserve

Founded 2013

Established in 2013, Independent Reserve is Australia’s most trusted cryptocurrency exchange and OTC trading desk. Over 170,000 customers from Australia, New Zealand and Singapore trust Independent Reserve to easily buy and sell Bitcoin, Ethereum, XRP and other major cryptocurrencies. Independent Reserve offers a range of innovative features, including insurance on crypto assets, AutoTrader, KPMG tax estimator, API integration and world-class security.


Kraken Logo

Founded 2011

Kraken Logo

Kraken

Founded 2011

Kraken

Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.

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PROS

  • Excellent Security record
  • Large Volume

CONS

  • Slow Customer Service response
  • Slow account verificaiton

Supported Fiat:Yes

Payment methods include:Debit Card Bank Transfer Cash BACs Chaps

Headquarters: San Francisco, USA

Bitcoin mobile transfer icon

Ease of Use

Super easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Excellent

Limits icon

Limits

Medium

Visit Site Read Review
Binance Logo

Founded 2017

Binance Logo

Binance

Founded 2017

Binance

Binance's US arm has fewer currency pairs than thier main exchange, but still has a solid offering. They offer fiat on and off ramps as well, allowing you to get new money into the market quickly.

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PROS

  • Easy Fiat Deposit
  • Dollar Cost Averaging tool

CONS

  • Less pairs than Binance main site

Supported Fiat:Yes

Payment methods include:Credit Card Debit Card Bank Transfer Wire Transfer

Headquarters: San Francisco, USA

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Average

Limits icon

Limits

High

Visit Site Read Review
Cex.io Logo

Founded 2013

Cex.io Logo

Cex.io

Founded 2013

Cex.io

Since its founding in 2013, CEX.io has never lost any user funds. As a pioneer in credit card payments for crypto, CEX has kept it easy to access and buy coins. Since it supports 99% of all counties,you can use CEX no matter where you are to buy and sell your favorite crypto assets

Visit Site More

PROS

  • Supports 99% of all countries
  • Multiple Fiat pairs
  • No customer funds lost
  • Easy account creation

CONS

  • Slow withdraw times

Supported Fiat:Yes

Payment methods include:Credit Card Debit Card Bank Transfer SEPA SWIFT

Headquarters: London, GBR

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Medium

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review
BitMEX Logo

Founded 2014

BitMEX Logo

BitMEX

Founded 2014

BitMEX

Started by commodities trader Arthur Hayes in 2014, BitMEX quickly became the leading place to make leveraged bets on the price of bitcoin. Thier unique Bitcoin only depoist/withdraw system, along with top notch security have continued to set it apart from challengers.

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PROS

  • Up to 100X leverage
  • New products constantly rolled out
  • Top Notch Security

CONS

  • For Advanced Traders

Supported Fiat:No

Payment methods include:Bitcoin

Headquarters: SYC

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Excellent

Limits icon

Limits

Unlimited

Visit Site Read Review
BTCC Logo

Founded 2011

BTCC Logo

BTCC

Founded 2011

BTCC

As the oldest exchange in China, BTCC has a good reputation that only longevity can earn. Easy fiat on and off ramps and many cryptocurriencies to trade continue to make BTCC China's premere exchange

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PROS

  • Easy fiat on and off ramps

CONS

  • Trader Privacy is extremely low.

Supported Fiat:Yes

Payment methods include:Credit Card Debit Card Coin Payments Wire Transfer

Headquarters: Hong Kong, China

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review
LocalCryptos Logo

Founded 2012

LocalCryptos Logo

LocalCryptos

Founded 2012

LocalCryptos

LocalCryptos is a Peer to Peer exchange that escrows funds, allowing two parties to trade cryptocurriences with no prior knowledge of each other.

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PROS

  • Peer to Peer

CONS

  • Can be slow. Trade speed depends upon the speed of the other party, not LocalCryptos

Supported Fiat:Yes

Payment methods include:Credit Card Debit Card Bank Transfer Coin Payments Cash

Headquarters: Richmond, Australia

Bitcoin mobile transfer icon

Ease of Use

Average

Privacy icon

Privacy

High

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

-

Visit Site Read Review
KuCoin Logo

Founded 2013

KuCoin Logo

KuCoin

Founded 2013

KuCoin

As one of the first exchanges anywhere, KuCoin has grown into a very large operation, supporting hundreds of trading pairs along with derivatives and futures.

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PROS

  • Many trading pairs, Low fees, Large trading Volume

CONS

  • Low Privacy, Can be overwhelming for new users

Supported Fiat:Yes

Payment methods include:Credit Card Debit Card Bank Transfer Paypal Interac e-Transfer

Headquarters: Singapore

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review
eToro Logo

Founded 2006

eToro Logo

eToro

Founded 2006

eToro

eToro was started before bitcoin existed, however it recently has added bitcoin and cryptocurrency trading to its platform. Now it is one of the most trusted places to buy, sell and trade various cryptocurriencies. It's large platform allows it to have low fees and spreads.

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PROS

  • Low fees
  • In businisses longer than any other crypto exchange

CONS

  • 75% of retail investor accounts lose money when trading with this provider
  • Withdrawals can be slow

Supported Fiat:Yes

Payment methods include:Bank Transfer

Headquarters: UK

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Excellent

Limits icon

Limits

Unlimited

Visit Site Read Review
Bittrex Logo

Founded 2014

Bittrex Logo

Bittrex

Founded 2014

Bittrex

Founded in 2014, Bittrex was a mainstay of crypto trading during the 2017 bull market. It has many cryptocurrency paiirs and now even allows Fiat on boarding.

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PROS

  • Many Currency Pairs

CONS

  • Extensive KYC

Supported Fiat:Yes

Payment methods include:-

Headquarters: Seattle, Washington, USA

Bitcoin mobile transfer icon

Ease of Use

Average

Privacy icon

Privacy

Low

Speed icon

Speed

-

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

Medium

Visit Site Read Review
Paymium Logo

Founded 2011

Paymium Logo

Paymium

Founded 2011

Paymium

Paymium is one of the oldest exchanges in Europe. It is compliant with all EU regulations and is extremily well trusted. Paymium is based in France and supports several payment methods, including SEPA transfers and credit card purchases.

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PROS

  • High limits for SEPA transfers
  • Makers get paid to trade with low taker fees
  • Great mobile support for trading on the go

CONS

  • Not the easiest exchange to use
  • Limited desposit methods that only supports euros

Supported Fiat:-

Payment methods include:Credit Card Bank Transfer SEPA SWIFT Apple Pay

Headquarters: Paris, FRA

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review

The history of Bitcoin in Australia

Map of Australia

Despite many of the continent’s relaxed laws, Australia has experienced a rather difficult relationship with the regulation of Bitcoin over the years. Until recently, that is.

Back in 2013, the governor of the Reserve Bank of Australia (RBA) spoke about the legality of cryptocurrencies in an interview, claiming that “there would be nothing to stop people in this country deciding to transact in some other currency in a shop if they wanted to. There’s no law against that, so we do have competing currencies.”

However, in 2014, the Australian government’s tax office (ATO) set in place caustic double taxation on existing cryptocurrencies, resulting in many popular miners and operating platforms pulling out and leaving the country.

But by 2017, the authorities had introduced new legislation that made the crushing double taxation rules obsolete, creating a return to form for tech-savvy traders. In the resulting years, virtual currencies, and specifically Bitcoin, have witnessed a gradual increase in popularity. The following year, digital currency exchanges were made to register with the Australian Transaction Reports and Analysis Centre in compliance with new anti-money laundering legislation.

The current status of Bitcoin in Australia

Bitcoin network concept

Today, Australia is a mostly Bitcoin-friendly country with many local shops accepting Bitcoin as payment for goods and services––specifically in areas like Sydney and Melbourne, which remains the most Bitcoin-friendly city with many brick-and-mortar stores offering it as a payment option. In fact, there are a few regions in the country with businesses that claim a strong track record of Bitcoin adoption, even posting ‘we accept bitcoin’ signs on doorways or at cash registers.

Some of the most popular exchanges for buying Bitcoin in Australia include Coinspot (billed as the leading bitcoin exchange in the country), Coinbase (billed as the most trusted), and CoinJar.

Explore more exchanges

Data sources: LocalBitcoins.com (daily trading volumes and price), coinmap (ATMs and venues).