So, you’re in Australia, right? If so, you might be wondering how to buy cryptocurrency in Australia. After all, there are a number of options available. Here, we’ll take a look at a few top options. Capital, eToro, and Swyftx all offer cryptocurrency trading. However, you should be aware that these are unregulated investment products, and you should only invest in a reputable exchange if you’re planning to keep your funds in a safe, liquid account.
CoinSpot
If you’re looking to buy or sell cryptocurrencies, CoinSpot is one of the best places to start. Its trading pairs are both unique and popular, and the platform offers a wide variety of cryptocurrencies. This allows you to buy or sell Bitcoin or ETH with little to no transaction fee. The exchange does charge a fee when you use a traditional banking method, but the fee is negligible compared to what you’ll pay at a cryptocurrency exchange.
In addition to being an Australian company, CoinSpot is a member of the Australian Digital Commerce Association, which complies with the latest AML/CTF laws. It must verify customer identities, report transactions over $10,000, and keep records of transactions for seven years. Users can also benefit from a rigorous verification process at CoinSpot, including verifying their email addresses, uploading photos of ID, and providing proof of address.
Capital
The first step in buying cryptocurrency in Australia is to decide on how you will deposit your funds into your trading account. Once this is determined, you can begin placing trades. Today, technological developments have made the process of buying cryptocurrency in Australia extremely easy. Among the most popular methods of buying cryptocurrency in Australia are PayPal and card purchases. Learn more about each method of purchasing cryptocurrency here. But remember to keep these factors in mind as you make your purchase.
While many exchanges accept deposits in AUD, you must find an Australian crypto exchange that supports your fiat currency. Many global exchanges use third-party providers to provide this service. CoinSpot, for example, accepts a number of fiat currencies, including AUD. It also offers a secure means of withdrawing crypto. And because all exchanges require you to verify your identity before you can make a deposit, you should be able to do so in less than 15 minutes.
eToro
eToro is one of the best cryptocurrency exchanges in Australia. The company is regulated by CySEC and the Financial Conduct Authority. In addition, the website is compliant with Australian Securities and Investments Commission (ASIC) regulations. As a result, your funds are always safe with eToro. eToro also offers a risk-free demo account for those new to cryptocurrency trading.
eToro has a wide range of currency pairs and exchange-traded funds. The SPDR S&P 500 (SPY) is the largest ETF and tracks 500 influential US stocks. The platform also supports 49 forex pairs, 32 commodities, and ETFs. In addition to cryptocurrency trading, eToro allows users to short crypto and participate in the price fluctuations of these currencies.
Swyftx
Among the many Australian cryptocurrencies, Swyftx is an extremely popular choice. Founded in 2017, this Australian-based digital currency exchange has grown rapidly, becoming widely used in Australia and New Zealand. Its user-friendly interface makes it ideal for beginners looking to start their crypto journey. It supports more than 320 cryptocurrencies, and offers staking on a wide range of popular coins.
For Australians, Swyftx is the best place to begin trading cryptocurrencies. The exchange allows investors to transfer cryptocurrency into their retirement account. The exchange supports over 290 cryptocurrencies, and users can deposit by using a QR code or a Bitcoin wallet address. The speed of the transfer depends on how many confirmations there are, as well as network congestion. If you wish to deposit BTC, it can take between 11 minutes and an hour.
CoinJar
As one of the oldest cryptocurrency exchanges in Australia, CoinJar has a user-friendly app that makes it easy to buy and sell crypto in a flash. Its app is available for both iOS and Android. Users can deposit and withdraw using a range of methods. BPAY, NPP, and Blueshyft are all fee-free, while Visa/MasterCard incur a 1.5% fee. The platform charges a low 1% transaction fee and offers extensive transaction reports.
When depositing, Australians can use CoinJar’s free OTC trades. Withdrawals from other currencies will incur a flat fee of $20. Withdrawals from a cryptocurrency wallet will incur a network fee depending on the blockchain load. A fee table can be found here. To keep costs low, depositing and withdrawing can be done with a credit or debit card. Depending on the value of your transaction, withdrawals are typically processed in under five business days.
Binance
There are several ways to buy cryptocurrency in Australia. With Binance, you don’t need to use a referral code, and you can withdraw your earnings as soon as they are made. To buy bitcoin, follow these 3 steps. Once you’ve verified your identity and have your bank account details, you can go to the website of Binance Australia and deposit funds in your account. You should note that withdrawals can take up to two business days, depending on the bank’s policies.
First, sign up for an account on CoinSpot. CoinSpot is a top Australian cryptocurrency exchange, with an excellent user interface, Live Chat support, and CoinSpot Bundles. You can buy a wide variety of popular cryptocurrencies using CoinSpot, as well as more specialized offerings such as GBYTE and VTC. You can also buy a variety of coins at a time, from Bitcoin to more niche offerings.
