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Buy Crypto in Australia, Easily
Find the best CeFi and DeFi platforms to Buy, Sell, Stake and Earn Interest on your Bitcoin and crypto assets.
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We compare leading Australian Crypto brands
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How to Buy Crypto in Australia
A quick guide to buying Cryptocurrencies like Bitcoin, Ethereum, Solana, Avalanche and more with AUD.
Buy your first Crypto in Australia
- Get Started: To get started, you will need to find a trusted cryptocurrency exchange in Australia and sign up.
- Deposit AUD:Then you will need to verify your identity and connect your Australian bank account.
- Find Crypto: Find the crypto you want to buy.
- Buy Asset: Select 'Buy' and input the AUD amount you want to invest and execute your trade.
Continue reading for a detailed breakdown of each step.
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Deposit AUD to buy Crypto
You can deposit Australian Dollars (AUD) into the platform with a Bank Transfer, POLi, PayID, Cash, BPAY or other options.
The best deposit method is with PayID, because it is free and instant with a CoinSpot account.
For verified accounts, the daily deposit limit is $20,000 and can be increased with further KYC and verification.
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Find the Crypto you want to Buy
Select from over 370 different cryptocurrencies to buy on the CoinSpot trading platform.
Get access to the latest DeFi, Metaverse, GameFi and Smart Contract platforms with low fees starting at 0.1%.
You can also stake to earn interest on your cryptocurrencies on the exchange.
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Execute your Crypto Trade
When you find the token you want to invest in, simply input the AUD amount and buy your first Cryptocurrency.
When you buy Crypto with CoinSpot, the transaction is finalised instantly.
Once the transaction is completed, the Crypto you purchased will be stored in your CoinSpot managed wallet.
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Frequently Asked Questions
A summary of the most frequently asked questions we receive from crypto investors in Australia.
Is Buying Crypto in Australia Legal?
Yes, buying and selling cryptocurrency in Australia is legal. The Australian Transaction Reports and Analysis Centre (AUSTRAC) regulates cryptocurrency exchanges and has implemented know-your-customer (KYC) and anti-money laundering (AML) requirements for them.This means that investors can safely and legally buy Bitcoin and cryptocurrencies through an AUSTRAC-licensed exchange.
How is Crypto Taxed in Australia?
In Australia, the tax treatment of cryptocurrency transactions is based on the specific use case and individual circumstances. In general, the Australian Taxation Office (ATO) considers cryptocurrency to be a form of property, and transactions involving cryptocurrency are subject to capital gains tax (CGT) rules.
If you purchase cryptocurrency as an investment, any capital gain or loss from the sale or disposal of the cryptocurrency is subject to CGT. If you use cryptocurrency to purchase goods or services, the transaction is considered a barter transaction and the value of the cryptocurrency is treated as if it were Australian dollars.
If you have any questions about your specific tax obligations, you should consult with a tax professional or the ATO for further guidance.
Where Can I buy Crypto in Australia?
In Australia, you can buy cryptocurrency from a variety of sources, such as cryptocurrency exchanges, peer-to-peer (P2P) marketplaces, and over-the-counter (OTC) brokers. Cryptocurrency ATMs and some physical exchanges also exist in some locations. You can also buy from individuals who own the cryptocurrency. It's worth to do your own research and due diligence when choosing a provider to ensure that it is reputable, secure and regulated.
Does Crypto Affect Credit Scores in Australia?
Cryptocurrency itself does not directly affect credit scores in Australia, as credit scores are based on credit history, which is primarily determined by traditional financial products and services such as credit cards, loans, and mortgages.
However, if you use a credit card to purchase cryptocurrency or to make other transactions on a cryptocurrency exchange, it may have an indirect impact on your credit score. This is because credit card companies report to credit bureaus, and if you make late payments or exceed your credit limit, it could negatively affect your credit score.
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