What is the best way to buy Crypto in Australia?
The only way to buy cryptocurrencies like Bitcoin and Ethereum in Australia is by using a regulated and license digital asset exchange. There are many reputable Australia-based platforms to choose from including CoinSpot, Independent Reserve, SwyftX, and more. Although all of these exchanges are secure, they differ in features, fees, customer support options, security, and more.
The best cryptocurrency exchange for Brisbane residents is CoinSpot. It is the largest digital asset trading platform in Australia with over 2.5 million registered users and has been operating for 10 years. Since its inception, it has never been subject to a cyber attack or hacking incident, proving it's battle-tested and secure. If you're interested in learning more about this exchange, visit our detailed CoinSpot Review.
How to buy Bitcoin and Crypto in Brisbane
CoinSpot is the best and most secure cryptocurrency exchange for Brisbane residents as it supports multiple AUD payment methods including PayID, BPAY, Osko, POLi, Bank Transfer, Credit/Debit Cards, and even cash deposits. It is the only platform in Australia that accepts deposits with cash. Follow the below guide to securely buy crypto in Brisbane.
- Create a free account on CoinSpot and complete the verification requirements.
- Tap 'Deposit Funds', choose a method, and deposit AUD to your CoinSpot account.
- Go to the 'Markets' tab and click the 'BTC/AUD' market.
- Input the amount of AUD you want to invest in Bitcoin and tap 'Buy BTC'.
Is it legal to buy Cryptocurrencies in Australia?
Yes, it is legal to purchase and own cryptocurrencies in Australia. The Australian Transaction Reports and Analysis Centre (AUSTRAC) regulates digital asset exchanges on a federal level, ensuring all transactions are in compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws.
CoinSpot is registered with AUSTRAC and is audited on a regular basis to ensure it adheres to the highest security and compliance standards. In addition to being registered with AUSTRAC, it has also been awarded the ISO27001 Standard Security Certificate for outstanding security measures and industry-level practices.
What are the fees to invest in digital assets?
CoinSpot charges a small fee for all buy and sell transactions (trading fees). The exact amount depends on the transaction type but falls within 0.1% to 1%. There are also additional fees tied to deposits which can range from 0% - 2.58%, depending on the payment method used. Refer to the below photo for a quick overview of the fees charged on CoinSpot.
The Bottom Line
If you're looking to buy Bitcoin or any other cryptocurrency in Brisbane, CoinSpot is the best and most secure option. It is widely regarded to be the most secure and trustworthy exchange in Australia. Before making your first purchase, make sure to understand the fees associated with each transaction type as well as any risks associated with investing in digital assets.