Can I buy Crypto in Sydney?

Yes, you can buy crypto in Sydney with ease through many reliable AUSTRAC-licensed and regulated trading platform. It's important to choose a crypto exchange that is highly secure, offer low fees, support multiple AUD deposit methods and provide 24/7 customer support.

The best and most trustworthy crypto exchange in Australia is CoinSpot. This platform allows investors to make deposits with AUD from CommBank, ANZ, Westpac, or any Aussie bank via direct deposit into their wallets. Once they have received the funds in their account they can then start buying hundreds of cryptocurrencies.

CoinSpot Exchange.
CoinSpot Exchange.

How to buy Bitcoin in Sydney

If you want to buy cryptocurrencies like Bitcoin in Sydney, the best exchange to use is CoinSpot. Sydney residents can deposit Australian dollars to CoinSpot via a variety of methods to buy and sell over 360 tokens with fees starting from just 0.1%. Follow the below steps to get started.

  1. Open a free account on CoinSpot and complete the verification process.
  2. Click 'Deposit Funds', select a method and deposit AUD to your account.
  3. Go to the 'Markets' tab and open the 'BTC/AUD' market.
  4. Input the amount of AUD you want to invest in Bitcoin and tap 'Buy BTC'.
How to buy Bitcoin in Sydney.
How to buy Bitcoin in Sydney.

Is it expensive to invest in Cryptocurrencies?

‍The cost of investing in digital assets will depend on the type of payment method you use and what trading type you select. On CoinSpot there are a variety of deposit methods that offer different fees. For example, PayID, POLi, Bank Transfer and Osko payments are completely free, but BPAY incurs a 0.9% fee, cards have a 2.58% fee and cash deposits have a 2.5% fee.

As for trading fees, the instant buy feature (where you can buy all of the supported tokens on CoinSpot) incurs a 1% fee anytime you buy or sell a token. If you use the market buy feature the fee is only a small 0.1% fee but there are only 20 cryptocurrencies you can choose from.

CoinSpot: Fees Schedule.
CoinSpot: Fees Schedule.

What are the risks involved in buying digital assets?

It is important to note that investing in crypto carries a degree of risk and you should seek advice from an independent financial adviser if unsure about your investment decisions. The main risks associated with buying digital assets include price volatility, security breaches, and fraud/scams. It is therefore important to thoroughly research any platform before making an investment decision.

In saying that, CoinSpot is a highly secure, trusted, and easy-to-use AUSTRAC-licensed platform for Australians looking to buy Bitcoin and other crypto assets. It is widely regarded to be the most secure exchange in Australia and is the only one to obtain the ISO27001 Standard Security Certificate for outstanding security procedures and measures.

Bottom Line

‍Sydney residents have a few options when it comes to buying and selling crypto assets but CoinSpot is the best exchange in Australia. It offers multiple payment methods, great fees, and over 360 tokens. To learn more about this exchange, visit our detailed CoinSpot Review.