Can I buy Cryptocurrencies with Australian Dollars?
Yes, it is possible to purchase Cryptocurrencies directly with Australian dollars. Most major global exchanges like eToro, Bybit and Binance accept AUD as a payment method. Although these platforms accept AUD, they do not support a variety of Australian payment methods and are not regulated/licensed in the country. This is why we recommend using an Aussie trading platform.
CoinSpot is the largest Australian Cryptocurrency exchange and it offers seven different deposit methods through popular payment providers like PayID & POLi. Additionally, it is the most affordable platform in Australia with competitively low trading fees from 0.1% and free AUD deposits. If you want to learn more about CoinSpot, you can visit our CoinSpot Review.
How to Buy Bitcoin with AUD
The most secure and affordable way to buy Bitcoin with AUD is through the CoinSpot exchange. Aussies can deposit funds to CoinSpot via multiple payment methods which include PayID, Osko, POLi, BPAY, Bank Transfer, Credit/Debit Card or Cash.
Follow these simple steps below to get started.
- Sign Up: Create a free account on CoinSpot and verify your identity.
- Deposit AUD: Click ‘Deposit Funds’, pick a method and deposit AUD on CoinSpot.
- Find BTC: Go to the ‘Markets’ tab and click ‘BTC/AUD Market’.
- Buy Bitcoin: Input the amount of AUD you want to invest and tap ‘Buy BTC’.
Is it safe to buy Crypto in Australia?
Yes, it is safe to buy Crypto in Australia when you use a secure, licensed and regulated digital asset exchange like CoinSpot. Investing in Cryptocurrencies is completely legal in Australia and is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).
CoinSpot is the most secure crypto platform in Australia and has been awarded the ISO27001 Standard Security Certificate. It is licensed under the name 'Casey Block Services Pty Ltd' and is a registered member of Blockchain Australia, the Australian Digital Commerce Association, and AUSTRAC.
What are the fees involved in buying crypto?
When you use CoinSpot, the fees are competitively low compared to other exchanges as there are only two costs on the exchange. Withdrawals are completely free on CoinSpot and most deposit methods are. Refer to the list below for a breakdown of the fees charged on CoinSpot.
- PayID, POLi, Osko, Bank Transfer - Free & Instant
- BPAY - 0.9% & 0 - 2 Business Days
- Credit/Debit Card - 2.58% & Instant
- Cash Deposit - 2.5% & Instant
- Market Buy - 0.1%
- Instant Buy - 1%
The Bottom Line
Investing in Cryptocurrencies with Australian dollars (AUD) is a simple and quick process when using the CoinSpot exchange. It is the largest and most secure Aussie trading platform that supports multiple payment methods like PayID, Osko, and POLi. It has competitively low fees starting from 0.1% and offers free AUD deposits, making it the most affordable exchange in Australia.