buy eth guide

How to buy Ethereum Australia

Quick-Take: The best way to buy Ethereum in Australia is through CoinSpot. They offer the lowest fees at 0.1% per trade, and over 350 different cryptocurrencies to buy, sell and swap.

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Ethereum (ETH) has become one of the most popular assets in Australia, with over 5% of the population investing in the digital currency. The increase in popularity has been due to the increase in real-world use cases like Decentralized Finance (DeFi), NFT and GameFi.

In this guide, we will outline step-by-step the best way to buy Ethereum in Australia. This article will also show you how to stake Ethereum (ETH) to earn a 4% yield on your tokens.

Table of Contents

How to buy Ethereum in Australia

The easiest way to buy Ethereum in Australia is through an AUSTRAC regulated cryptocurrency exchange. These platforms allow you to securely deposit Australian Dollars from local bank accounts.

We have provided a brief guide below to help you get started if you are low on time.

  • Step 1 - Open a Crypto Exchange Account: Join a secure and regulated cryptocurrency exchange in Australia like CoinSpot.
Buy Ethereum in Australia CoinSpot
  • Step 2 - Deposit AUD: Connect your Australian bank account and deposit method to deposit Aussie Dollars onto the trading platform.
  • Step 3 - Find ETH: Look for ETH on the crypto trading platform under the 'Buy/Sell' menu.
Buying ETH
  • Step 4 - Buy Ethereum: Input the amount of AUD you want to invest and select 'Buy'.

Best Place to buy Ethereum in Australia

You might be wondering how other cryptocurrency exchanges in Australia fare when compared to CoinSpot. The table below provides a quick breakdown to help you decide what the cheapest and best way to buy Ethereum is.

Cryptos Available
Trading Fees
0.1 - 1%
Crypto Staking
NFT Marketplace
24/7 Local Support
Overall Best

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.

Ethereum Price AUD

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

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. .

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.

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).

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Author Bio

Timothy Wilson was a former Prop Trader for a notable crypto trading fund based in Hong-Kong. He built BCA after deciding he wanted to focus his career on educating new users about Crypto and DeFi.

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