How to buy Ethereum Australia

Is it Legal to buy Ethereum in Australia?

Yes - cryptocurrency trading is legal in Australia. That said, the Australian tax code treats digital currencies as assets, so you will pay capital gain taxes on your ETH investment. There is, however, an ongoing review of the crypto capital gain tax rule by the Technology Financial Center (ATFC) Senate Committee.

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Ethereum Price AUD

The chart below is a live price of Ethereum (ETH) in Australian Dollars.

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Why is CoinSpot the Best Exchange for ETH?

You can make your Ethereum purchases from just about any Aussie cryptocurrency exchange. That said, exchanges have varying trading fee structures, liquidity levels, and registration processes. These factors will impact your purchase process and the profitability of your Ethereum trade.

As an illustration, some Australian cryptocurrency exchange trading fees could be 5% higher than common mid-market rates. Others may have hidden charges, may not support direct AUD purchases, or may have slow account verification processes.

To this end, if you are planning to purchase ETH, go for an easy-to-use exchange platform that has deep liquidity and has a fixed and transparent fee structure. As an illustration, CoinSpot has a clear fee structure and supports AUD to ether purchases. .

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Why is Ethereum so Popular?

Ether (ETH), the Ethereum network's native currency is the world's second most valuable crypto asset. It currently has a $539 billion market cap. If you had made an Ethereum (ETH) purchase a year ago, its value would have skyrocketed by 1000%.

In contrast, the S&P/ASX 200 index, the Australian Securities Exchange’s (ASX) most prominent stock index, has had an average annual return of 9.3%. The S&P 500, on the other hand, has had a 38.8% increase over the last year.

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About Ethereum

Ethereum is a decentralised platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference. Ethereum is used by developers to build decentralised applications (dapps) on its blockchain.

Ethereum’s token, Ether, is mined through a proof-of-work algorithm. Ethereum’s blockchain is different from Bitcoin’s in that it allows for smart contracts, or self-executing code. This means that Ethereum can be used to create Decentralised Autonomous Organizations (DAOs).