How to Buy Bitcoin & Cryptocurrency In Australia With a Credit Card or a Debit Card, Paypal & eWallets

A complete guide on how to buy bitcoin in Australia, we’ll cover the basics of how to invest in cryptocurrency. We’ll tell you where to buy crypto in Australia instantly, including top brokers and exchanges. We also cover secure payment methods such as PayPal and Credit cards.

Author: Edith Reads   -   Last updated: 17/05/2024


Bitcoin has consistently emerged as the top cryptocurrency for over a decade now, and there has been a lot of hype about the cryptocurrency giant. If it piques your interest and you are wondering how to acquire cryptocurrency in Australia, we will run you through the process. So, what is Bitcoin, and how can you invest in it? Where can you buy cryptocurrency in Australia, and how much do you need to acquire crypto coins? What should you consider before purchasing cryptocurrency?

Our simple ‘How to buy cryptocurrency in Australia’ guide will give you comprehensive answers to these questions and more. We will tell you how to buy Bitcoin in Australia, detailing the various methods to acquire crypto coins and the best Bitcoin exchanges and brokers. We’ll also tell you the multiple ways you can put your crypto coins to use.

Best 6 Exchanges & Brokers to Buy Cryptocurrency in Australia in 2024

  • Min Deposit: $200
  • Number of Coins: 20+
  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
BankGiro PayMastercardNetellerPayPalSkrillUnionPayVisaYandex
Visit eToro

Capital At Risk

  • Min Deposit: 20 $£€ By Credit Card
  • Number of Coins: 26+
  • Regulated by FCA, CySEC, ASIC, SCA, & SCB
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit

80.84% of retail CFD accounts lose money

  • Min Deposit: 5 $£€
  • Number of Coins: 60+
  • Private key encryption and 2FA
  • User-Friendly
  • Privacy protection
Visit uphold

Capital At Risk

  • Min Deposit: $100
  • Number of Coins: 12+
  • Regulated By EU & ASIC
  • Competitive Spreads
  • Protect the Losing Trades with AvaProtect™
Visit AvaTrade

Capital At Risk

  • Min Deposit: 20 AU$
  • Number of Coins: 160+
  • Competitive fees
  • User-friendly
  • Big Range of Coins
Visit Cointree

Capital At Risk

  • Min Deposit: 2 $£€
  • Number of Coins: 200+
  • Good Customer Support
  • Educational Resources
  • Competitive Fees
Visit Digital Surge

Capital At Risk

A Quick Three-Step Guide to Buying Cryptocurrencies Instantly in Australia

Step 1: Register with an exchange

Find a reputable cryptocurrency exchange and register your account with it. The account registration process may have a few requirements that differ from one platform to another, so provide the required details. In most cases, you simply need to provide and verify your email address.

Step 2: Deposit funds

You can deposit fiat currency into the exchange and use it to buy the crypto coin you want. However, some exchanges also allow you to buy crypto with another crypto, in which case you deposit a cryptocurrency and use it to buy another coin. Check the options the exchange provides and deposit accordingly. Fiat currency has a range of deposit methods such as credit/debit cards, PayPal, eWallets, and bank wire.

Step 3: Buy preferred crypto instantly

Once your account gets funded, proceed to buy your preferred coin instantly. Most exchanges support a couple of crypto coins, so you may have to scroll down the list to identify the coin you want. Typically, you can only buy real crypto coins and acquire their ownership on crypto exchanges, unlike brokerages that allow you to purchase only the underlying contract.

Step One
Open A Free Account
eToro Logo
Step Two
Deposit Funds
BankGiro PayMastercardNetellerPayPalSkrillUnionPayVisaYandex
Step Three
Buy Cryptocurrency
Buy Now

Capital At Risk

What is a Cryptocurrency Exchange?

A crypto exchange is a digital marketplace where cryptocurrency enthusiasts can buy and sell Bitcoin and other altcoins using a fiat currency like the US dollar or other crypto coins. The platform acts as the intermediary between buyers and sellers of different cryptocurrencies.

To buy cryptocurrency on an exchange, you need to deposit money via any of its supported payment methods. You must, however, confirm that your preferred payment option is available in Australia. Some platforms also allow users to buy cryptocurrencies like Bitcoin and Ethereum using other crypto coins. For instance, you trade Litecoin for some Ripple but sell them in different proportions since their values vary.

Whether in Sydney or Melbourne, you can access different exchanges and brokerages and acquire the crypto coins you want. According to Coinmarketcap’s statistics, there are currently 408 exchanges, most of which are available for Australian residents. These exchanges group into three categories which include Centralized exchanges, Decentralized exchanges, and Hybrids.

Centralized exchanges (CEX)

Centralized crypto exchanges, popularly known as CEXs, operate similarly to traditional securities exchanges. They link cryptocurrency buyers and sellers and are thus more like intermediaries. The platforms fail to uphold the fundamental objective of crypto, which was to eliminate the centralization of currency, which means that individuals must trust a third party to control their finances.

Ideally, CEX users deposit their money on the exchanges for the platform to hold for them, just like in traditional banks. You trade your fiat currency for a cryptocurrency like Ethereum and then keep viewing its price movements and place a buy or sell order. Depending on the order you place, the exchange finds you a match, and that’s it.

Centralized exchanges are more prone to hacks, plus most of them only provide crypto to crypto pairings, meaning you may not be able to acquire some Bitcoin or Litecoin on most CEX using fiat money. However, finding a CEX that provides fiat/crypto pairs makes more sense if you are just starting in cryptocurrency. Kraken is one of the largest CEXs with operations in Sydney and provides various fiat/crypto pairings. Other popular centralized exchanges in Australia include Coinbase, Gemini, Binance, and KuCoin.

Decentralized Exchanges (DEX)

Decentralized exchanges are commonly known as DEXes. These types of exchanges remain faithful to the original philosophy of cryptocurrencies: eliminating the need for intermediaries to handle your funds. They provide a platform where cryptocurrency buyers and sellers meet and process transactions peer-to-peer. They use blockchain technology to ensure the secure and automated transfer of cryptocurrency without a central figure. Most of them rely on the Ethereum blockchain to take advantage of the network’s smart contracts capabilities.

Decentralized exchanges are harder to hack, but on the downside, it’s easy for users to lock themselves out of their funds once they lose their private keys. Some of the top decentralized exchanges in Australia include Zerion, Zapper, PancakeSwap, ParaSwap, and Bancor.

Hybrid Cryptocurrency Exchanges (HCE)

Hybrid crypto exchanges are the next-generation crypto trading platforms that merge the features of CEX and DEX. They leverage the functionality and liquidity of a CEX with the security and privacy of a DEX. They are a new form of crypto exchange, with the first-ever exchange, Qurrex, launching in 2018. It is still one of the leading exchanges you can use to buy cryptocurrency in Australia.

What is the Difference Between a Crypto Exchange and a Brokerage?

Whether you are a seasoned crypto trader or a newbie in the industry, you probably know there exist two primary ways of trading cryptocurrency. Besides, earlier on in this guide, we said you could trade in actual coins or derivatives like CFDs and futures contracts, and that’s where brokerages and exchanges come in. However, it can be challenging even for crypto experts to tell the differences between exchanges and brokerages. In this section, we explore the noteworthy differences between crypto exchanges and crypto brokerages.

The Trades

Trading on a brokerage is preferable, especially for high-value trades, due to the brokerages’ features of higher liquidity and security. Further, once you deposit on a brokerage, you have various trading opportunities such as leverage positions. However, the number of services differs from one broker to the other. Even though most brokerages only allow users to trade the underlying contracts, some like eToro will enable you to purchase the actual coin. Brokerages are more suitable for speculative investors who use the trading tools provided on the platforms and benefit from short-term to mid-term trades.

Crypto exchanges have limited trading opportunities since they simply follow the order book based on the deposited fiat or cryptocurrency. They link buyers and sellers, for which they charge a fee. Also, a buyer receives the actual coin, unlike in a brokerage where users only own the underlying contract but not the actual coin. They are more suitable for mid-term to long-term crypto investors who want to hold on to a crypto coin and wait for a possible price valuation in the future.

Deposit and Withdrawal Options and Cost

Most of the exchanges do not take fiat currency, and you will pay a high deposit fee if you find one that accepts fiat. The payment options are limited, with the popular ones being bank transfers and credit/debit cards. You pay deposit and withdrawal fees and probably the card processing company fee. You can, however, avoid these charges by depositing using cryptocurrency. The costs are significantly lower, and deposits could even be free, so you only pay for withdrawals.

There are notable benefits regarding the deposit and withdrawal options and the cost when using a cryptocurrency brokerage. You can still deposit using either fiat or cryptocurrency, but brokers provide many payment methods compared to exchanges. The options range from bank transfers, cards, and cryptocurrencies, to a range of eWallets. Deposits are usually free, and the withdrawal fees range from 0% to 3%.

Account Creation and Verification

The account creation and registration process differs from one exchange to another but mainly involves straightforward steps with prompts you can easily follow. You only need to provide and confirm your email address then create a password. From there, some exchanges will allow you to trade cryptocurrency without verifying your identity, but this may come with a few restrictions, such as on the maximum amounts you can transact. Verification is also not a complex process and is necessary, especially if you are dealing with a fiat/crypto type of exchange. It can be anything from providing a selfie holding your ID, doing a video call, or providing a scanned ID.

For brokerages, the registration process is also straightforward. In most cases, you will need to provide your ID plus proof of address, such as a utility bill. However, identity verification is quite essential since brokers are usually subject to regulation. The process, however, happens faster than on exchanges, and you can start depositing and trading right after verification.

Safety and Security

Cryptocurrency exchanges remain targets for hackers due to the lack of regulation of cryptocurrencies. There have been several incidences of cryptocurrency exchange hacks, and the platforms remain pretty vulnerable.

However, it does not imply that brokerages are not prone to hacks, but they provide a more sense of safety and security of assets. Brokerages are regulated by reputable authorities like AUSTRAC and ASIC, meaning the platforms are not a scam. Also, they are strictly audited and are usually members of investment insurance schemes that secure clients’ claims against the brokers. Finally, brokers hold client deposits in banks, and this provides an additional guarantee.

How to Invest in Cryptocurrencies in Australia

Cryptocurrency is now a buzzword that has proven to be the newest and most lucrative financial asset for investors. Their high volatility is both a risk and an excellent opportunity for profiting. The markets are open 24/7 and provide different investment strategies. You just have to select a plan based on your level of risk appetite, experience in trading, and financial goals. Here are the different ways you can invest in cryptocurrency in Australia.

Buy and Hold (HODL)

‘HODL’ represents both an abbreviation for “hold on to dear life” and a misspelling for the word ‘hold.’ It is a long-term investment strategy that has proven to be the easiest and most effective, hence ideal even for new cryptocurrency investors. HODLing involves acquiring cryptocurrency then storing and waiting. When the price of the cryptocurrency rises, you can then sell at a profit. For security purposes, long-term investors should store their coins on hardware wallets. Today, many investors acquired Bitcoin at a much lower price than its current value.

CFD Trading

Cryptocurrency CFD trading is a great way to get into the cryptocurrency market without having to actually buy any cryptocurrencies. With CFD trading, you trade contracts that are based on the price of a given cryptocurrency. This means that you don’t have to worry about storage or security, since your broker will take care of all of that for you.

CFD trading can be a great way to make money if you know what you’re doing. However, it can also be risky, so make sure that you do your research before getting started. There are a lot of brokers out there who are willing to help you get started in CFD trading, so don’t hesitate to ask around for advice.

Day Trading

Day trading is a popular cryptocurrency trading strategy ideal for expert traders. It is a short-term investment option whereby investors make all their profits or losses within a single day. It is more time-consuming than any other strategy since you have to monitor price movements actively for you to sell your coins when they begin to profit or when they start to depreciate to avoid further loss. The idea is to buy a cryptocurrency and sell it multiple times in one day and not have open positions by the close of business.

What are the Pros and Cons of Investing in Bitcoin & Cryptocurrencies Today?


  • No barriers to entry: Virtually anyone can invest in cryptocurrency. Unlike in traditional investments like securities and shares, there are no barriers to stop you from getting involved in cryptocurrency. There are no tedious processes and paperwork, and with just a few internet searches and signing up for an exchange, you can start investing in cryptocurrency.
  • Privacy: Investing in digital assets provides unmatched privacy in your financial transactions. Your identity can never get traced in cryptocurrency transactions, so no one will ever know whether you own a stack of Bitcoin. You only need to provide your public key consisting of random numbers that are not traceable to you.
  • Security: All cryptocurrencies rely on blockchain technology which provides high-level security of the digital assets. Additionally, investors can store their coin holdings on offline wallets, eliminating the risk of hacking entirely. Your private keys are only known to you, and so your investment remains secure as long as you keep your private keys safely.
  • Huge profits from price fluctuations: The price of a crypto coin can change by over 100% in any direction within a short span. If the change happens in your favor, you can reap a lot of profits from these movements. Besides, all crypto investors bank on the volatility to make profits.
  • Requires little capital to start investing: You do not need to have a million dollars to start investing in cryptocurrency. Sure, a Bitcoin costs thousands of dollars, but this doesn’t mean you must have them to acquire some Bitcoin. Most cryptocurrencies are sliceable, and so you can start investing by as low as down to eight decimal points. Therefore, you can become a cryptocurrency investor with just a few dollars back in Melbourne.


  • No government backing: The lack of a central authority or government backing had been a significant cause of concern for potential cryptocurrency investors. Most forms of investment have a backing, and this creates a guarantee for investors. For instance, fiat currencies have government backing while stocks and bonds have companies. Since cryptocurrencies lack any reserves, they put investors at a greater risk of losing their investment, and they will have nowhere to claim their lost money.
  • High volatility: Cryptocurrencies are notoriously volatile. The volatility is much higher and incomparable with conventional investment options. While the price swings can work in your favor, they can also go against you and end up losing a lot of money.
  • No recourse for lost cryptocurrency: There are millions of digital assets locked in wallets for the simple reason that the owners lost their private keys. Once you move your coins from a trading platform to your wallet, you are solely responsible for them, and if you lose your keys, your investment is gone for good. Also, if a person gains access to your private key and transfers your entire investment, it’s impossible to trace and recover the coins.
  • Cybersecurity threats: A cryptocurrency like Bitcoin is known to be highly valuable and is thus an attractive target for hackers. Further, although the Australian government declared crypto exchanges and crypto coins legal, it does not recognize them as money, plus the sector’s regulation is still a little unclear. The situation incentivizes unscrupulous individuals towards conducting financial crimes while blockchain technology protects them from being traced. Fraudsters use blockchain technology to present scam projects that promise financial technology’s future, only to disappear with investors’ money.
  • Cryptocurrency and blockchain are complex: It sounds pretty unusual to invest in a scheme you do not fully understand, and this can be the case for cryptocurrency. Generally, cryptocurrency is conceptually and, in practice, quite challenging to understand. The ordinary Australian may not understand the principles of cryptography and the concept of blockchain technology. Further, it requires exceptional cryptocurrency market analysis skills to thrive in the industry using available analysis tools like charts.

What Factors Should Investors Look for When Buying Cryptocurrency in Australia?


The cryptocurrency industry became legal in Australia in 2017, and this came with a set of strict regulations that potential investors should know. First, cryptocurrency became subject to provisions like the Capital Gains Tax and the Anti-Money Laundering and Counter-Terrorism Financing Act. All cryptocurrency exchanges in Australia must register with the Australian Transaction Reports and Analysis Center and comply with relevant requirements. According to the Australian Securities and Investments Commission, some digital assets like anonymous privacy coins got banned in Australia.

Therefore, investors should look into such regulations to ensure they are not investing in illegal assets. Also, they must ensure they invest via an exchange that holds an Australian Financial Services license for them to benefit from the Australian cryptocurrency consumer protection.

Reputation in Australia

The Australian authorities require every exchange to get registered and licensed and fulfill the statutory requirements. However, some of them are still non-compliant and are not your ideal investment partners. Complying with regulations is part of what builds on a platform’s reputation, so the purpose is to register with compliant exchanges. Also, you can do your homework to ensure your preferred platform doesn’t have a questionable background.

Service Jurisdiction

Most cryptocurrency exchanges and brokerages serving Australians do not necessarily have their headquarters in Melbourne or other Australian cities. They could be in other countries but with operations open to Australian residents. Before you sign up for a platform, confirm it is operational in Australia.

Customer Service in Australia

While it’s easy to navigate through most crypto exchanges on your own, customer support is an essential feature. Excellent customer support improves user experience and ensures any challenges can be addressed timely for the convenience of investors such as day traders. As a result, ensure you sign up to a platform with a responsive customer support team in your country.

Are Cryptocurrencies Legal in Australia?

Cryptocurrencies and exchanges are legal in Australia. However, the anonymous coins dubbed ‘Privacy Coins’ suffered a ban in 2019. Investors should thus be cautious of any cryptocurrency platforms purporting to provide privacy coins as they should not be among Australia’s listed platforms.

Accepted Currencies & How this is Relevant to Australia

Before creating your account with an exchange or brokerage, make sure you check its supported currencies. Some support different coins, while others like eToro have only the US dollar as its base currency. An exchange that accepts the Australian dollar would be preferable, although the US dollar is also famous in Melbourne, Sydney, and other Australian cities.

Safety & Security

Although Australian authorities are keen on cryptocurrency consumer protection, investors should also take the initiative to ensure the safety of their assets. You can check how an exchange stores deposits in terms of the wallets used. Reserves held in offline vaults are more secure compared to live wallets. Also, know whether it is the exchange that stores your coins or they rely on third-party wallets.


It will cost you to trade cryptocurrency via a cryptocurrency exchange. The fees and commissions charged differ from one platform to another, so it’s good to make some comparisons. Check the deposit and withdrawal fees from the various exchanges in Australia and see where the amount is favorable. Also, some may have underlying costs, so be sure to unearth all potential charges before settling for a platform. The accepted payment and withdrawal options may also impact the overall trading cost, so check the options. The ideal situation is when you invest at the lowest cost possible.

How to Buy Bitcoin in Australia Guide

By now, you know everything it takes to invest in cryptocurrency, from the different categories of trading platforms available and how to choose the ideal one for you and set up your account to the various trading strategies. However, you are still yet to acquire your first coins, and that’s where we are heading. But first, why should you buy cryptocurrency in Australia? We begin by answering this question and then see how you can buy Bitcoin in Australia.

Why Buy Cryptocurrency in Australia?

Cryptocurrency is a reliable long-term store of value

Most cryptocurrencies have a fixed supply. For instance, Bitcoin’s maximum supply is capped at 21 million coins and is decentralized, meaning there is no central authority. That way, it is impossible for a political body to dilute Bitcoin’s value through inflation and is thus a preferable long-term store of value than conventional currency.

Independence and flexibility

The cryptocurrency market is, to a large extent, independent due to its nature of being decentralized. You can invest in Bitcoin and altcoins and enjoy complete control over your assets, unlike in securities and stocks where your assets are under the sole possession of a company. Since there is no external body influencing your decisions, you can have the flexibility you want, such as expanding your portfolio, switching to another cryptocurrency, or even disposing of your assets at any time you wish.

Variety of choices

Cryptocurrency provides unlimited choices when it comes to investment options. The industry is quite diverse, and this diversity plays a critical role. Based on the coin that seems to have the most significant potential, you can invest in it or a couple of coins. Besides, the market is expanding every day, meaning investors will always remain spoilt for choice.

Cryptocurrency prices will keep on growing

There is a lot of hype on cryptocurrency in general. More people are willing to invest in the industry, which is beneficial to investors already in the space. Digital coins are receiving greater recognition as the future currency, and businesses are also adopting them as the ultimate solution to their everyday transactions. There will be a continuous demand for cryptocurrency, and this will keep increasing their prices. Besides, with Bitcoin and most cryptocurrencies having a fixed supply, it’s just a matter of time before the coins become too scarce, pushing their prices to new highs.

There are no barriers to entry

Traditional investments like stocks have entry requirements such as attaining the legal age and the minimum number of shares you can buy. However, the cryptocurrency space has zero such restrictions. Exchanges will not have so many requirements to open an account and trade cryptocurrency, as is the case in traditional banking. As long as you have access to the internet and a PC, you can invest in cryptocurrency and perform transactions.

Also, even the largest cryptocurrencies like Bitcoin and Ethereum are divisible into smaller units, allowing you to buy fractions. Therefore, even if a coin costs thousands of dollars, you can still invest in it with a few hundred dollars.

Cryptocurrency exchanges and brokerages are the easiest ways to go when buying cryptocurrency in Australia. As stated earlier, brokerages provide you with more payment methods than exchanges. However, the most popular options you can use in Australia are credit/debit cards, eWallets, PayPal, and bank transfers, and anonymous purchases on some platforms. Here’s a closer look into these payment methods.

How to Buy Crypto with Credit/Debit card in Australia

Credit/debit cards are one of the most widely accepted payment options in Australia. They provide you with a simple, convenient, economical, and straightforward way to acquire cryptocurrency and begin your journey in crypto trading. You may have to pay the card company’s processing fee, but the amount is usually negligible. Typically, it will not go beyond 5% of the transaction amount.

Most exchanges and brokerages in Australia support the method but with varying conditions. For instance, you can use a credit/debit card to deposit on eToro, and the deposits are free. There are also varying minimum and maximum deposit amounts, but Australians can deposit from $50. The minimum deposit is the lowest on eToro and exclusive to Australia and a few select countries. The maximum deposit is $40,000 per transaction.

How to Buy Crypto with PayPal in Australia

Though limited in some countries, PayPal is a popular payment option on exchanges and brokerages in Australia. PayPal users enjoy almost instant transactions, plus they are quite economical compared to alternatives like bank transfers. Australians can buy cryptocurrency via PayPal on eToro, and enjoy low minimum deposit requirements of $50 and a maximum of $10,000.

How to Buy Crypto with eWallets in Australia

Skrill and Neteller are the most widely used eWallets on cryptocurrency exchanges and brokerages. Most people in Australia prefer them because of their ease of access, plus they are simple to use. You can buy cryptocurrency on reputable platforms like eToro via eWallets and receive your digital coins within minutes. They are good options for both deposits and withdrawals. eToro sets the minimum withdrawal amount at $30, at a standard fee of $5. Deposits are free, and the minimum you can pay in Australia is $50.

How to Buy Crypto with Bank Transfer in Australia

Though it’s a readily available payment method, it’s only a good option if you cannot use PayPal and eWallets. Its main downsides are on the transaction throughput and the cost. It takes between 3 and 7 days before deposits made via bank transfer can reflect, and they will cost you more than eWallets—the minimum deposit amount on brokerages like eToro changes from $50 to $500.

How to Buy Cryptocurrencies Anonymously in Australia

Australian authorities require crypto exchanges and brokerages to undertake a complete know-your-customer process. Thus, it is almost impossible to buy cryptocurrency anonymously from a fully regulated platform. Only unregulated exchanges or brokers can allow you to buy anonymously in Australia, which is not recommendable.

How Much Do You Need to Start Trading Cryptocurrency in Australia?

The answer to this question is relative. Simply put, there is no definite amount for one to start trading in cryptocurrency, and there are several reasons for this. First, the cryptocurrency space is highly volatile, and the price of Bitcoin could change significantly within a short period. As such, you could check out Bitcoin’s price today and decide to purchase some coins the following day, only to find the price 50% up. However, the amount could equally be a significant percentage down.

Second, there are different approaches to trading cryptocurrency, and some require less capital than others. For instance, you do not buy the actual coin in CFD trading, plus you trade on margin. Therefore, traders in crypto derivatives require a lesser amount of capital due to the benefit of having leveraged trades.

Third, it’s possible to divide most cryptocurrencies into smaller portions, which means you do not have to spend the cost of a whole Bitcoin to start investing in the cryptocurrency. You can acquire Bitcoin as little as six decimal points or even half depending on your capability. Finally, cryptocurrency exchanges have minimum deposit requirements, which means you will need to deposit that amount if you want to start trading. The amounts differ from one platform to another, so what you pay depends on your chosen platform. eToro has one of the lowest minimum deposit requirements in Australia, capped at $50. The minimum deposit may also differ depending on your payment method.

Therefore, after factoring in all these factors, it’s hard to pick a figure of the amount you need to start trading cryptocurrency.

Where Can You Buy Cryptocurrency in Australia?

Cryptocurrency is no new concept, having been around for a little over a decade. The industry has sparked global interest not just because of its ability to create overnight millionaires but also the world-changing technology, blockchain, that came with it. At first, blockchain and cryptocurrency emerged as new and complex ideologies that were not easy to grasp for the ordinary person. Many people did not understand the working of blockchain technology or where to start in cryptocurrency.

Fast forward today, buying and trading cryptocurrency is quite simple. There are thousands of coins you can buy and trade other than Bitcoin, plus the platforms are more than ever. Trading happens by just choosing the type of exchange you want, creating and verifying your trader account, and then choosing a payment method, and you are good to start buying and selling cryptocurrency.

As if the variety of coins is not enough, they are also available in different forms. You can choose to trade in real digital assets on a cryptocurrency exchange, or better still, trade in the derivative forms. Crypto derivatives include cryptocurrency contracts for difference (CFDs), Futures contracts, Trusts, and Options. Exchanges provide actual coins, while the derivatives are only available on brokerages. Therefore, you will only buy real Bitcoin on exchanges like Binance and Coinbase, while brokers like will allow you to trade in CFDs. eToro is a unique broker as it will enable users to buy both the actual coin and CDFs.

1. eToro – Best for Social Trading

Available Coins: 20+
Margin Trading: YES
Minimum Deposit: $200
Visit eToro

Capital At Risk

The eToro trading broker is one of the pioneer Bitcoin trading platforms that provides a wide range of crypto coins today. It is a one-of-a-kind crypto brokerage in that it allows for both actual coin trades and CFDs, unlike many crypto brokerages. However, eToro offers only CFDs for Australian clients. Its list of supported assets includes:

Available Cryptocurrencies on eToro
Bitcoin (BTC)COMP (Compound)EOS GBP (EOS/Pound)
Ethereum (ETH)LINK (Chainlink)XRP GBP (Ripple/Pound)
Bitcoin CashUNI (Uniswap)ETH JPY (Ethereum/Japanese Yen)
XRP (Ripple)YFI (Yearn. finance)BTC JPY (Bitcoin/ Japanese Yen)
DashDOGE (Dogecoin)EOS JPY (EOS/ Japanese Yen)
Litecoin (LTC)AAVE (Aave)XRP JPY (Ripple/Japanese Yen)
Ethereum ClassicALGO (Algorand)ETH EOS (Ethereum/EOS)
Cardano (ADA)MANA (Decentraland)ETH XLM (Ethereum/Stellar)
MIOTA (IOTA)ENJ (Enjin)ETH BTC (Ethereum/Bitcoin)
XLM (Stellar)BAT (Basic Attention Token)BTC EOS (Bitcoin/EOS)
EOSMATIC (Polygon)BTC/XLM (Bitcoin/Stellar)
NEOFLR (Spark)EOS XLM (EOS/Stellar)
TRX (Tron)SHIBxM (Shiba in Millions)BTC AUD (Bitcoin/ Australian Dollar)
ZEC (ZCASH)BTC EUR (Bitcoin/Euro)BTC NZD (Bitcoin/New Zealand Dollar
BNB (Binance Coin)ETH GBP (Ethereum/Pound)BTC CAD (Bitcoin/Canadian Dollar)
XTZ (Tezos)BTC GBP (Bitcoin/Pound)BTC CHF (Bitcoin/Swiss Franc)
MKR (Maker)

Users in Australia can buy cryptocurrency using various payment options like credit/debit cards, eWallets like Skrill and Neteller, PayPal, and bank transfers. There are no charges for deposits and no commissions on trades. Users also have access to a range of trading pairs with leverages of up to 30x.

It is a reputable crypto brokerage that guarantees asset security on its multi-crypto on-chain wallet that allows you to monitor and use your coins without the risk of exposing your private keys. eToro Australia has the licensing of the Australian Securities and Investments Commission and holds no pending litigation. However, the platform lacks a support feature.

Buy Cryptocurrency & Bitcoin in Australia on eToro

What are the Pros and Cons of Buying Cryptocurrency on eToro?


  • Free Storage: eToro provides its users with a free offline crypto wallet for holding their coins.
  • Social and Copy Trading: Unlike other crypto brokerages, eToro users have access to social and copy trading tools.
  • Fees: eToro does not charge fees on deposits or commissions on trading.
  • Minimum Deposits: eToro maintains low minimum deposits requirements of $50.


  • Base Currency: eToro has the US dollar as its base currency. Users making deposits using any other currency must pay a 2% conversion fee.
  • Support: eToro does not have the user support feature.

2. – Best for CFD Trading

Available Coins: 26+
Margin Trading: Yes
Minimum Deposit: 20 $£€ By Credit Card

80.84% of retail CFD accounts lose money is an easy-to-use and straightforward crypto brokerage that provides some of the best trading pairs. The broker transitioned from a web-based to a mobile-based platform, allowing only relevant data for technical analysis to appear on the screen. It’s a reputable CFD trading platform and a great entry point for derivative trading since it has 24/7 customer support. Its popular trading pairs include:


However, has a host of trading pairs that you can see on our full review page. has some of the tightest spreads in the market, with the BTC/USD pair being about 0.5%. The spreads, however, vary based on the trading pair. It does not charge any commission on transactions, but you will pay a fee if you maintain your holdings overnight. Deposits start as low as $20, with a range of payment options like Apple Pay, eWallets, Trustly, and Cards. You can confidently begin your crypto CFD trading journey on this Australian Securities and Investments Commission-authorized brokerage.

Buy Cryptocurrency & Bitcoin in Australia on

What are the Pros and Cons of Buying Cryptocurrency on


  • Excellent User Interface – has a well-planned mobile app that ensures traders have a great user experience.
  • Excellent Customer Support – maintains excellent 24/7 customer support, ensuring users receive immediate responses to queries and assistance on challenges.
  • Fast Order Execution – uses a one-click AI technology that enables the platform to have fast order execution speeds and competitive trading fees.
  • Market Analysis Tools – provides users with free market analysis tools.


  • Not the Best for Beginners –’s AI technology and CFD trading may be a little challenging for beginners.
  • Limited Trading Pairs and Leverage – does not provide variety in terms of trading pairs, plus its leverage is also little.
  • Customizability – The web-based application has little customizability.

3. Uphold – Best for Product Diversity

Available Coins: 60+
Margin Trading: YES
Minimum Deposit: 5 $£€
Visit uphold

Capital At Risk

Uphold is a safe and secure platform that allows users to buy Bitcoin and other cryptocurrencies. The platform offers up to 60 digital currencies, including the big names in the crypto space, alt-coins, emerging tokens, and stable coins. That includes;

  • Bitcoin (BTC)
  • Bithereum (BTH)
  • Dogecoin (DOGE)
  • Dash (DASH)
  • Aave (AAVE)
  • Polygon (MATIC)
  • Cardano (ADA).

You can visit our full Uphold review for the full list of crypto assets on Uphold.

You can purchase BTC by depositing other cryptocurrencies, making the platform one of the best options for buying cryptocurrency in Australia.

You will love its user-friendly interface, which means you don’t have to be tech-savvy to use the platform. Users have access to live market data to help them in market analysis and making their investment decisions. Transaction fees are, however, a little high at 3.99% for credit card transactions.

What are the Pros and Cons of Buying Cryptocurrency on Uphold?


  • Multiple tradable assets – Uphold users can trade up to 60 different cryptocurrencies.
  • Free to send money – Uphold users can send money free of charge to their friends and family in different parts of the world.
  • There are no convenience fees for bank transfers – Uphold doesn’t charge any convenience fee when buying through the bank.


  • Higher spreads – Uphold tends to charge higher spreads compared to other exchanges.

4. Avatrade – Best for Low Spreads

Available Coins: 12+
Margin Trading: YES
Minimum Deposit: $100
Visit AvaTrade

Capital At Risk

The AvaTrade crypto broker is a pioneer cryptocurrency broker that is best suited for all traders. Whether you are a newbie in CFD trading, an intermediate or seasoned trader, the broker has something for you. It mainly stands out for providing a variety of trading platforms ideal for different traders. The platforms include MetaTrader 4, MetaTrader 5, and MetaTrader for mobile, Mac, and web trading. Further, Avatrade also provides automated trading software such as Mirror Trader, RoboX, API Trading, Dupli Trade, and MGL5 Signal Service. You can speculate on some popular instruments like

  • Ethereum
  • Litecoin

Better still, you can visit our full review page for the complete list of supported cryptocurrencies.

Unlike other platforms that include deposit or withdrawal fees, Avatrade follows a unique approach. Users do not pay any fees on deposits, trading, or withdrawal. Instead, they are required to pay an inactivity fee whenever their account goes dormant. The platform, however, charges spreads. Users must remain active to avoid paying the inactivity fee. The cost is usually $50 for accounts that remain inactive for three months. It is a reputable CFD broker that provides multiple trading pairs and up to 20x leverage. It also has the license of the Australian Securities and Investments Commission.

Buy Cryptocurrency & Bitcoin in Australia on AVAtrade

What are the Pros and Cons of Buying Cryptocurrency on Avatrade?


  • Zero Fees – Avatrade does not charge users any commissions or fees and provides tight fees on open positions.
  • Variety of Trading Instruments – Although the focus is on cryptocurrency, Avatrade is notably a platform of more instruments like Indices, ETFs, and Bonds.
  • Leveraged Trades – The broker enables you to amplify your exposure to the markets using leverage on CFD pairs.
  • Excellent Customer Support – Avatrade has great multilingual live customer support.


  • Withdrawal Time – It takes a long time to withdraw on weekends.
  • Penalties – The platform charges a high inactivity fee. Additionally, if you forget to close your account for more than a year, you get a $100 penalty.
  • Few Deposit Options – Avatrade offers a few deposit methods compared to its competitors.

5. Cointree – Best for Low Fees

Available Coins: 160+
Margin Trading: YES
Minimum Deposit: 20 AU$
Visit Cointree

Capital At Risk

Launched in 2014, CoinTree is an Australian cryptocurrency exchange that allows the Australian crypto community to acquire cryptocurrency using the local currency. There are currently over 160 tradeable crypto coins on the exchange, with the most popular ones being

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • EOS
  • Cardano
  • Stellar.

You will be able to see the complete list on our full review page.

Depositing on the exchange is free with a minimum deposit amount of $20. All its deposit methods maintain a high level of transparency, and you will find no hidden fees. The options are also quite convenient for both deposits and withdrawals. Once you deposit, you can start trading and enjoy the platform’s 15,000 plus trading pairs.

The exchange charges a trading fee that varies based on the account type. The bronze tier account attracts a trading fee of 0.25%, while the diamond tier account has a trading fee of 0.05%. Withdrawals from the exchange made in AUD to bank accounts are free.

CoinTree takes pride in its robust security technology that protects both user information and crypto investments. It also has a steady and professional customer support team that stands out from other crypto exchanges in Australia. You can comfortably begin your cryptocurrency investment journey with this AUSTRAC validated cryptocurrency exchange.

Buy Cryptocurrency & Bitcoin in Australia on Cointree

What are the Pros and Cons of Buying Cryptocurrency on CoinTree?


  • Safety and Security – AUSTRAC regulates all CoinTree transactions, and the platform maintains a high level of security of client data and assets.
  • Efficient Customer Service – CoinTree users can access the platform’s customer service team at any time via call, email, or chat on their website.
  • Free Wallet – CoinTree provides users with a free wallet to store a wide range of crypto assets.
  • Market Updates – CoinTree’s trading desk constantly provides you with updates on market upswings and downswings.


  • Long Wait Time for Account Verification – Users must verify their identity on CoinTree, which takes between 24 and 48 hours.
  • Limited Trading – Advanced trading features on CoinTree are limited.
  • Single Fiat Deposit – You can only deposit with the AUD on CoinTree.

6. Digital Surge – Best for Fast Transactions

Available Coins: 200+
Margin Trading: YES
Minimum Deposit: 2 $£€
Visit Digital Surge

Capital At Risk

Digital Surge is one of the leading cryptocurrency exchanges owned and managed by Australians. Australians can use the AUD to buy the following coins on Digital Surge:

  • Bitcoin
  • Ethereum
  • Ripple
  • Cardano
  • Stellar
  • Bitcoin Cash
  • Litecoin
  • Neo
  • Basic Attention Token
  • Algorand
  • Theta
  • EOS
  • Tezos

You can also visit our full review page for the full list of tradable assets on Digital Surge.

The exchange prides itself in having an excellently designed platform to make cryptocurrency available to everyone. It is a perfect match for beginners looking to start investing in Bitcoin and altcoins. As a crypto exchange, Digital Surge does not provide crypto derivatives trading services.

The exchange uses high-level security policies such as server encryption and two-factor authentication, ensuring its platform remains safe. Digital Surge also runs a background check on all its employees to detect criminal history. As of this writing, the exchange has no publicly reported security breaches.

Trading fees range between 0.5% and 0.1% based on a trader’s 30-day trading volume. There are also instant buy and sell fees of 0.5% for both and a network transaction charge when moving your crypto to a third-party wallet. Deposits are free when made via cryptocurrency or PayID, while withdrawals are free when made using AUD.

The platform also provides a premium-grade customer support system with an Australian-based team. Users can always get prompt and friendly support when necessary. The exchange is AUSTRAC regulated and must carry out its business within the regulatory framework.

Buy Cryptocurrency & Bitcoin in Australia on Digital Surge

What are the Pros and Cons of Buying Cryptocurrency on Digital Surge?


  • Low Fees – Trading fees are low on Digital Surge, ranging between 0.1% and 0.5%.
  • Asset Security – The vast majority of assets on Digital Surge are held securely in offline vaults.
  • Excellent Customer Support – Digital Surge’s support team provides personalized support, plus customized advice is available from crypto experts.
  • Educational Resources – Users can get free and quality educational resources.


  • One Fiat Currency – You can only use the AUD to deposit on Digital Surge with fiat currency.
  • Limited Trade Amounts – Digital Surge is not the platform for those intending to trade large amounts of Bitcoin and Ethereum.
  • Credit Cards Deposits are Not Available – Digital Surge does not support payments via credit cards.

Alternatives Ways of Getting Cryptocurrency in Australia

Peer-to-peer Crypto Trading Platforms

You can acquire cryptocurrency through peer-to-peer trading platforms. They are usually decentralized, highly secure, and transparent transaction mechanisms. These platforms allow the parties to a transaction to interact directly without a third party. The platforms match buyers and sellers without holding any funds like in crypto exchanges. Users interact with the party to the transaction rather than with many peers. They always have information relating to each other, and the essential detail for a cryptocurrency peer-to-peer transaction is the wallet address.

Investing in ICOs

An ICO, an Initial Coin Offering, is like the traditional IPOs. A company looking to develop a new coin conducts an ICO to raise funds for the project. Interested persons can invest in the ICO and receive the new crypto coin once the token launches.

Crypto ATMs

If crypto exchanges, brokers, or P2P platforms don’t feel right for you, you can still acquire Bitcoin and altcoins from crypto ATMs. There are thousands of Bitcoin-dispensing ATMs spread across Australia. All you have to do is find one near you using a mapping service and confirm your preferred coin is available at the ATM. Once you locate a suitable ATM, walk to it, select the crypto coin you want, and then insert the fiat currency for the number of coins you want to buy. You will need to provide a wallet address by scanning where your coins will get deposited.

Trading crypto signals

Crypto signals refer to trading ideas from professional traders to buy or sell a specific coin at a particular time. The expert traders conduct their research and give recommendations based on current market trends, technical analysis, and crypto news. People looking to invest in cryptocurrency can sign up for a trading signal service and buy and sell based on expert recommendations.

How Can You Use Cryptocurrency in Australia?

Most cryptocurrency investors aim to buy low and sell high. However, cryptocurrency is a digital form of money and can serve other purposes besides HODLing and day trading. Here are some of the alternative ways you can use your digital coins.

Pay for goods and services

Cryptocurrency is not only a store of value but also a unit of account. Several merchants in Australia accept payment for goods and services in crypto coins, so you can use your stash of Bitcoin or altcoin to shop or pay for a service.

Issue cryptocurrency as a tip or a gift

The online community is the most informed about digital currencies. Some of the key players, like content creators, are now accepting support for their work in cryptocurrency. Therefore, the next time you want to support an online content creator or gift a friend far away, you could send them some Bitcoin.

Charitable organizations have for a long time accepted donations in the form of physical goods and fiat currency. Most of them are moving with financial technology trends and now accept donations in crypto.

What do Reddit & Quora Users Say About Buying Cryptocurrency in Australia?


For the Reddit community in Australia, much of their conversations right now is about cryptocurrency taxes. The cryptocurrency industry is much into the limelight in Australia, and the government has successfully implemented a great deal of its regulatory framework.

One of the latest posts from a Reddit user sets the question on whether the user must classify as a trader for tax purposes. The user is in search of an accountant to help in filing taxes for the year.

The user appears heavily invested in cryptocurrency trades and talks about trading massively on Binance and over 200 other platforms in the past. The user, a sole trader, proves how cryptocurrency trading and regulation have become mainstream in Australia.


Much of the concerns raised about cryptocurrency in Australia on Quora are on the industry’s legality and the best platforms for trading. On the best exchange to trade Bitcoin, one of the responses notes that investors have tons of options to choose from, noting that traders need platforms with various features to make the user experience less cumbersome and ensure better outcomes on trades.

The author recommends platforms that guarantee security and transparency and have mobile apps with great user interfaces. The author also notes that the best platforms should have no fees for deposits and withdrawals, terming this the best part about an exchange. Finally, the platform should register with AUSTRAC.


Over the years, the cryptocurrency space has proved to be a lucrative industry, growing from scratch to a billion-dollar industry in less than a decade. However, before you start your cryptocurrency journey, it’s good to understand the industry’s position in Australia.

Our how-to-buy cryptocurrency in Australia guide covers everything you need to know and positions you well to get started. We got you covered, from cryptocurrency and crypto platforms regulation to the leading exchanges you can sign up to and kick off your crypto trading journey. We also included a section to help you choose an ideal exchange and explore the different trading strategies. Also, we acknowledge that there are other ways in which cryptocurrency can be used in Australia and include the popular alternatives to trading your cryptocurrency.

Frequently Asked Questions (FAQs)

Yes, you can buy cryptocurrency in AUD. There are a few exchanges that allow you to do this, including the ones listed above. However, be aware that the fees for buying crypto in AUD are often quite high. You may be better off converting your AUD to another currency first (like USD or EUR), and then using that to purchase cryptocurrencies.

The best site to buy cryptocurrency in Australia depends on your individual needs and preferences. However, there are a few general factors you should consider when choosing a cryptocurrency exchange, such as fees, security, liquidity, and customer support.

There are a number of ways to avoid paying tax on cryptocurrency in Australia. One way is to simply not declare it when you file your taxes. Another way is to set up a cryptocurrency Self Managed Super Fund (SMSF). This way, you can invest in cryptocurrency without having to pay any capital gains tax. Finally, you could also relocate to another country with more favorable tax laws for cryptocurrency investors.

There are a few different ways that you can cash out your cryptocurrency in Australia. You can sell it for Australian dollars on an exchange, or you can use it to purchase goods or services. You can also convert it into another cryptocurrency, or into a traditional currency like US dollars or euros.

 The best way to buy Bitcoin in Australia is to use an online exchange such as the ones listed above. You can also buy them at a Bitcoin ATM, but rates may be higher.

Yes, Australia does have Bitcoin ATM’s. In fact, there are quite a few of them throughout the country.

If you’re looking to buy Ethereum in Australia, there are a few options available to you. You can purchase Ethereum with AUD through a direct purchase or an exchange. Alternatively, you can mine Ethereum or participate in airdrops. Each option has its own set of benefits and drawbacks, so it’s important to do your research before making a decision.

To buy crypto with PayPal in Australia, there are a few options. The easiest is to find an exchange that supports crypto-to-fiat transactions via PayPal.

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