The complete tax status of cryptocurrency and crypto staking in Australia is still being determined by the Australian Tax Office (ATO). However, buying Crypto is legal and is generally treated as an asset for capital gains tax purposes. This means that if you buy a cryptocurrency and then sell it at a profit, you may be liable for capital gains tax.

If you are thinking of buying cryptocurrency in Australia, it is important to do your research and be aware of the risks involved. Cryptocurrency is a volatile market and prices can go up and down very quickly. You should seek advice from a professional Crypto Financial Advisor in Australia before making your first investment.

The cheapest cryptocurrency exchange in Australia at the moment is CoinSpot who offer 0.1% on trading fees through their market orders. It is important to note that they only offer market orders for 20 cryptocurrencies, and not the full 320 listed on their trading platform.

The cheapest instant buy cryptocurrency exchange in Australia is SwyftX who offer 0.6% fees per transaction, compared to CoinSpot who charge 1% per instant trade.

For Australian investors the cheapest and fastest deposit method to buy cryptocurrencies is generally PayID/Osko.

They are typically instant deposits on major Australian exchanges like CoinSpot, SwyftX, Independent Reserve and others.It is important to note that the first deposit via PayID or Osko is sometimes held by your bank for 24 hours.

All subsequent deposits and withdrawals will be instant from your bank account.

The best Cryptocurrency to buy right now is difficult to say due to the turbulent market conditions.

That said, our team is most looking forward to the Ethereum Merge that is taking place in Q4 2022 that is expected to add deflationary pressure to the supply of ETH tokens on the market.