Jan 23, · Bitcoin took the world by storm over the course of the last twelve months with the meteoric rise in its market value. Bitcoin peaked at an all-time high of $20, on December 17, , and made the headlines across the globe. Bitcoin is no doubt innovative as a payment option, and it runs on Blockchain [ ]. May 28, · You can buy Bitcoin in Australia in three simple steps: Step 1. Choose a cryptocurrency exchange The first step, if you've decided that buying Bitcoin is right for you, is to decide how and where you'll make the purchase. Dec 20, · CoinJar is one of the longest running exchanges in Australia and have international presence. It’s a simple exchange for beginners to start on with competitive fees and many features. One of the main drawbacks for CoinJar is the number of support currencies, currently they only allow trading of 13 cryptocurrencies.5/5(15).
How to trade bitcoin in australiaHow to buy Bitcoin in Australia (Dec update) | Finder
Binance is quickly becoming the most used exchange in the world and for good reason. As mentioned in our Binance review, they have pairings for all of the major cryptocurrencies you would want to trade and safety is a big priority for them. CoinJar is one of the longest running exchanges in Australia and have international presence.
One of the main drawbacks for CoinJar is the number of support currencies, currently they only allow trading of 13 cryptocurrencies. Other exchanges in Australia support over different cryptocurrencies. CoinJar also have known to have quite large spreads compared to our most recommended exchange Swyftx. Digital Surge is one of the smaller Australian Cryptocurrency exchanges but they provide an excellent service.
If you are looking for a quick and simple way to buy Bitcoin or other cryptocurrencies then Digital Surge is a great choice. Users online boast how easy the platform is to use and we definitely agree! The platform is registered with AUSTRAC which is required in Australia and it gives you peace of mind, minimizing any potential threats to your investment. For more in-depth information you can check out our Digital Surge Review where we analyse the exchange further.
This can be seen as a good and a bad thing, firstly they have been around since so they can be trusted much more than the exchanges developed purely for cryptocurrency a lot later.
They are still working on improving the Crypto section of their website and plan to add more coins over time, currently, they only have the most popular coins available to trade. We suggest not leaving your coins on this platform due to the fees, you pay fees daily depending on how much you are storing — it is much easier to move it to an external wallet.
The platform itself looks very safe though. Coinbase is the largest foreign exchange, even so, we highly suggest not leaving your coins on this platform. We always advise against leaving your coins on any foreign exchanges, instead you can transfer it to a hardware wallet or online wallet.
This exchange has very high fees for trading as it is the largest exchange and has been for quite some time, in essence, you are paying for quality, safety , and assurance. There are a lot of stories of bad experiences with this exchange when trying to cash out, they have been known to hold accounts for up to a year.
We recommend reading our Coinbase review and do your own research before making a decision. Bittrex has a huge range of coins available and the most by far on our top 10 list. As noted in our Bittrex review, they do seem to act quite quickly in making sure they remove less credible coins. However, if you are looking for a new or less popular coin there is a high chance that Bittrex has it for trading.
As stated previously and especially for this exchange, we highly recommend not leaving your coins on this exchange read our post on how safe Bittrex is. CoinMama, was founded in and has been a leading cryptocurrency exchange for many years. For more info on the security of the platform, check out our article on Coinmama safety features. Kraken was founded in making it one of the oldest exchanges currently on the market. It has been plagued by bad press over the years making people cautious when approaching this exchange.
However, as mentioned in our Kraken review, this is still one of the most used exchanges in the world which we find quite interesting. Something like Binance would be a better option however Kucoin features a lot more cryptocurrencies which is why people will opt to use it.
Similar to other exchanges there is no option to deposit funds from your bank and buy cryptocurrencies on the go which is why this exchange is recommended for experienced users. For more info on the security of the platform, check out the following post: Is Kucoin Safe? Bitfinex is currently the largest exchange being used globally, this is mainly being used in east-asia and in the united states.
Bitfinex was hacked in August with over , Bitcoin being stolen, however they have since improved their security protocols and the way that they store users assets. OKEx is a relatively new Cryptocurrency exchange opening in May The OKEx platform is very versatile which is why it is gaining increasing popularity.
The cryptocurrency world can be a scary place for someone starting off, choosing the right place to buy, sell and trade is very important.
Our aim is to make the process as easy as possible. At Crypto Head we always suggest doing a lot of research before investing into cryptocurrency, just as we have done for this top 10 list.
Gox scandal or is at risk of being hacked. Disclaimer: Digital currencies and cryptocurrencies are volatile and can involve a lot of risk. Their prices and performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.
All you need is a reliable platform that lets you make orders quickly and easily. The exchange should be easily-navigable and clutter-free, with a few simple trading options that focus on Bitcoin. The best thing about Bitcoin exchanges is that they tend to offer a variety of payment methods to their customers. Deposits are instantaneous while withdrawals usually take 5 minutes to process. The advantage of using a local exchange is that you can pay for the services in your local currency, i.
Australian Dollars AUD. This saves you a great amount of time you would otherwise spend looking for third-party payment providers to convert your fiat funds. The reason for this is that popular exchanges like to play it safe by avoiding lesser-known altcoins that tend to be volatile. In the past, there have been numerous flash crash scenarios caused by the sudden price drop of a given altcoin.
Swyftx , however, manages to offer both a wide range of over digital assets, a couple of payment methods, and advanced features such as stop and limit orders. Most importantly, their services incur affordable fees unlike CoinSpot , which has an excellent choice of coins but hefty fees. Other popular options for altcoin exchanges are Binance , Bittrex , and Kucoin.
None of these exchanges are based in Australia but their services can be used worldwide. They offer a variety of coins to choose from but the only drawback is the lack of support for AUD.
Instead, you would have to make deposits and withdrawals in USD or crypto. Unlike Swyftx, these exchanges are not recommended for beginners and should be approached carefully. Trading cryptocurrencies is a risky business in itself, so definitely keep your eyes wide open when dealing with altcoins.
Novices to crypto trading usually think that the cheapest crypto exchange is the one that offers the lowest transaction fees. Although this is true in some cases, we still need to consider other important features such as spreads, exchange rates, deposit and withdrawal fees, discounts, etc.
Some exchanges apply the maker and taker fee schedule that takes into account your trading volume in the last 30 days. Not only do their fees start at 0. There are different metrics to observe when discussing cryptocurrency exchange but their trading volume is one of the most important. The larger the volume, the more popular and liquid the exchange is. It means that a lot of traders are relying on the platform and purchasing or trading large amounts of crypto. Exchanges know that traders will be looking into their trading volume which is why instances of market manipulation and wash trading have become more and more common in the industry.
However, this does not impact our reviews and comparisons. Learn more about our Affiliate Disclosure. As mentioned above, Swyftx is our go-to for trading cryptocurrencies in Australia, definitely if you're starting out. It's the most trustworthy exchange available and it makes trading buying, selling and switching coins incredibly easy.
Sign Up Here. After creating your account the first thing you'll want to do is SETUP MFA 2-factor authentication, adds an extra step for logging in to your account, very easy to setup , you can find this on your Profile page under "Security". Before you do anything on Swyftx you'll have to verify your account. It has the fastest verification process we've tested so it won't take long. You will then have to fill in all of your personal information including documents, don't be alarmed uploading this information, every exchange requires it.
It's to ensure your safety and make everyone on the platform accountable. You'll first need to deposit AUD on the platform so you can buy an sell cryptocurrency. You can also deposit Bitcoin straight into the platform if you already have some and would prefer trading with that. This page lists all the coins that Swyftx has available which is a lot.
You can simply click on any of the cryptocurrencies in the left section under "Assets" or search for your desired cryptocurrency.
Once you've decided what you want to buy you can indicate how much AUD you want to buy of each coin. Easy as that! You now have bought some cryptocurrency. We highly recommend moving your cryptocurrency to a hardware wallet if you are planning on holding it for a while. If you are planning on day trading, or trading fairly regularly we suggest keeping it on the Swyftx platform.
If you have already purchased Bitcoin on another platform then you can easily transfer it to Swyftx and sell it within their platform. From there you can withdraw straight to your bank account. You can also easily sell it to another cryptocurrency within the platform.
We highly suggest using Swyftx to buy and sell Cryptocurrency. We've done a comparison of the top 10 exchanges in the world for Australians to use and Swyftx clearly deserves the top spot.
Swyftx is by far our most recommended exchange for Australians. They have an easy to use platform and an online wallet that makes trading simple for new users. They have a strong sense of community and are constantly posting updates and adding new coins to their portfolio.
On top of this they have low fees and are upfront about any transaction fees they do charge whereas some exchanges charge much more in spreads. This is the most trusted exchange in Australia and arguably one of the best exchanges globally. Visit The Site. While Satoshi Nakamoto might have created one of the greatest technological feats of our time, sometimes buying cryptocurrency can be difficult.
The options include bank transfers, card purchases, paying with cash, using payment processors like PayPal, and even paying anonymously. Linking your bank account with your crypto exchange account has never been easier! The most popular Australian exchanges at the moment allow you to make swift and inexpensive bank transfers via the newest payment services. Swyftx, for example, accepts regular bank transfers that take around 3 to 6 hours to process only during business days and automated deposit methods using the following payment processors: POLi, PayID, and Osko.
All three of them offer instantaneous online and mobile transfers that notify the exchange when you make the payment so Swyftx can immediately approve your deposit. After depositing, you can very easily create a buy order in the exchange of your choosing and be the proud owner of some Bitcoin in no time! However, you should be aware that they could take up to one week because both the local and the overseas banks have to approve the transaction.
To speed up the process, you can purchase BTC from an Australian exchange and then trade the coins for your target currency on global crypto exchanges. The option to pay via credit or debit card is available for Australian traders on popular crypto brokers such as Coinbase and Coinmama, but not so much on local exchanges.
This is considered as reasonable pricing worldwide. You just need to create an account, link your debit card, and verify your identity. By , the enigmatic Bitcoin founder had disappeared. His peers then, understood how valuable this cryptocurrency was and worked feverishly to develop it to its maximum potential.
Bitcoin was the first digital currency to be created. It is also the most respected, capitalised and traded cryptocurrency in the world. Cryptocurrency trading allows for maximum yield when it is volatile, due to its many ups and downs. This is precisely the reason global traders enjoy Bitcoin trading.
Whenever a breaking story surfaces, Bitcoin starts to fluctuate and traders have the opportunity to cash in. It is increasingly being used as the preferred payment option for merchants, money transfers and trading purposes. Bitcoin enjoys widespread popularity as a financial trading instrument, despite no association with governments or central banks.