In the past couple of years, the popularity of bitcoin in Australia has skyrocketed dramatically, bringing about lots of sites that claim to sell bitcoin. If you’re stuck in making a choice on the best site to buy bitcoin in Australia, relax and keep reading.
Wordtecharena has done some in-depth research and comes up with the best site where you can buy bitcoin in Australia securely and with the lowest fees. Thorough research into each of the sites we’re about to list was necessary because there are quite some legitimate and scam exchanges out there, and it may be hard for just a newbie looking to buy bitcoin for the first time to make the right choice.
Best site to buy bitcoin in Australia
So, here they are. These sites mentioned below have passed a number of thorough checks to make it to our list of best sites to buy bitcoin in Australia
- Swyftx Exchange
- CoinSpot Exchange
- Digital Surge Exchange
- Binance Exchange
- eToro Australia Exchange
1. Swyftx Exchange
First and foremost on our list of the best sites to buy bitcoin in Australia is the Swyftx Exchange. In fact, it is regarded as the best overall for Australians. This means that a large number of Australians buy bitcoin through Swyftx Exchange.
Swyftx is a popular, comprehensive, and robust platform for crypto trading based in Brisbane. The site is AUSTRAC-registered and regulated and displays an intuitive desktop site and mobile app design which makes its overall use easy and ideal for newbie and veteran traders.
In Swyftx, you’ll find over 280+ cryptocurrencies available to buy and sell, trading fees as low as 0.6% per trade (no hidden costs), quick and straightforward registration and account verification process. There are also tutorials from the Swyftx team for complete beginners, an FAQ database, and the all-important Live Chat support function.
You can buy bitcoin from Swyftx Exchange with your credit & debit card, PayID, POLi, and bank transfer.
2. CoinSpot Exchange
Now, here’s another outstanding site to buy bitcoin in Australia. It came to the limelight in 2013 and became one of the most secure and audited exchanges in Australia. This can be proved by the ISO 27001 certification the exchange holds.
CoinSpot is an exchange that offers a wide selection of coins, meaning you can deposit AUD and then purchase any of the available 300+ coins. The site operates as a broker and you can buy bitcoin in three ways; you can buy straight from CoinSpot, you can buy from a seller or a Market Trade, or you can buy over the counter or otherwise called an OTC Trade (recommended for transactions above $50 000).
Buying straight from CoinSpot is recommended for beginners and it costs 1% of the transaction, which is very high compared to the Market Trade option where a much lower fee of 0.1% is charged. If you intend to use the buy from a seller or Market Trade option, you’ll find a limited range of coins and mostly the popular coins like BTC, ETH, ADA.
The CoinSpot trading dashboard is very simple and easy to use for beginners and expert traders alike. Registration is also simple. Coinspot now boasts over 2 million users, increased transactions, and most external audits over the last eight years.
You can buy bitcoin in Coinspot exchange through bank transfer, PayID, POLI, BPAY, or cash deposit.
3. Digital Surge Exchange
Digital Surge is an ASIC and AUSTRAC registered exchange made for Australian enthusiasts and beginners who want to get into crypto. The exchange is based in Brisbane and offers over 270 different cryptocurrencies to users. All crypto currency can be purchased using AUD.
Digital Surge has a 0.5% starting fee and it goes as low as 0.1% based on volume. There is a 50%-90% saving fee when compared to CoinSpot fees. The team at wordtecharena carried out a crypto buying test to discover the difference in fees. It is the best exchange for fees in Australia.
Digital Surge site interface that is very easy for users to buy and sell bitcoin. Only AUD deposits are supported by the exchange and you can also pay bills via Bitcoin in Digital Surge. With a credit card that accepts BPAY, you can pay any Australian bill.
There’s also a mobile app that makes it a lot easier to buy, sell and trade crypto on the go.
4. Binance Exchange
Binance is one of the biggest bitcoin and altcoin crypto exchanges by volume. It is a great platform for crypto trading with a wide range of options including buying bitcoin or other crypto currencies, futures, margin trading, p2p, and more. You’ll get access to over 300 cryptocurrency coins. However, the site is not recommended for beginners and is 0not Australian so you may be charged a fee for deposits and withdrawals.
Binance users can easily deposit AUD through PayID/Osko. The fees are very low and competitive at 0.1% and third-party trading bots can help you automate your strategy.
As we’ve already mentioned, Binance is not an Australian company so Australians may encounter issues while verifying their Australian issued IDs and depositing from Australian banks.
5. eToro Australia Exchange
Last on our list of the best sites to buy bitcoin in Australia is the eToro Australia exchange. eToro is a social trading platform that allows you to chat with other users, posti and comment on the News Feed, and even automatically copy the exact trades of the most successful investors. It also acts as a broker as it offers cryptocurrency trading.
Basically, eToro is not a full crypto exchange, but it offers 30 popular cryptocurrencies on their platform and no commission is charged on trades. Other excellent features of eToro include a demo account with $100 000 virtual money to practice trading and crypto staking. You can also buy crypto CFDs, and make money on crypto prices without being in depth to the underlying assets.
A mobile app is also available for iOS and Android.
However, eToro only allows USD deposits, so a currency conversion fee will be charged whenever you deposit and withdraw.
And that’s it. The best sites to buy bitcoin in Australia. Wordtecharena has done some indepth research and comes up with the best legitimate site where you can buy bitcoin in Australia securely and with the lowest fees.