Bitcoin seems to be the word on everybody’s mouth these days. For starters, Bitcoin is a cryptocurrency (sort of digital currency) that lets you purchase things just like normal cash. However, unlike cash, Bitcoin is not regulated by any bank and the rates are controlled by demand and supply not by government policies like in some economies.
Here’s How to Purchase Bitcoin In Australia
1. Coinmama (Instant Service)
Coinmama is an Isreal-based service operating in the cryptosphere since 2013. And the good thing about this service is, almost every country in the world can avail of their services, including Australia.
Using Coinmama, you can buy Bitcoins in Australia via a Visa/MasterCard credit/debit card. Remember, Coinmama is a buy-only service which means you cannot sell BTC here.
To get started with Coinmama, you need to register using your email ID following which you will be asked to submit some documents to prove your identity. The more documentation you provide, the more currency you can buy on Coinmama. Check out our full review of Coinmama here: Coinmama Review: Analyzing If It Is Safe And Reliable.
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Buy bitcoin from Changelly
Changelly is our favorite service and we are glad that it covers Australia in its supporting countries.
Here, you can simply sign-up using your email ID and swap any supported cryptocurrency for Bitcoins if you have one. If you don’t, you can buy Bitcoins using credit/debit cards too.
You can check the exchange rates of USD/BTC here and decide for yourself when and how much you want to buy.
You may also use this direct widget to buy BTC in Australia and within 5-30 minutes your Bitcoin should be with you. Check their official step-by-step guide for buying cryptocurrencies here.
Buy BTC Now From Changelly (Instant purchase)
CEX.io service is one of the pioneer services in the cryptosphere operating since 2013 from the UK, but the good news is that it supports more than 100 countries including Australia.
On CEX.io, one can buy BTC in two ways:
By depositing fiat currencies
By checking-out using their credit/debit cards
If you are in Australia and have access to VISA/MasterCard debit/credit cards, you can register yourself on CEX.io. Here is an extensive guide by CoinSutra that will help you in the KYC process: CEX.io Review.
Once you are done with the KYC and registration of your cards, you will be allowed to purchase more BTC depending on the level of KYC you have completed.
Also, one can deposit and withdraw funds directly from the mobile app of CEX. The app is very user-friendly and allows one to trade Bitcoins on the go! (Download CEX Android app | Download CEX iOS app)
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BitStamp is a known name for anyone who has been involved in the Bitcoin space. It is a UK-based exchange, a reliable one, serving the industry since 2011.
The good news is, BitStamp’s list of supported countries has Australia in it which means you can buy Bitcoin in Australia via BitStamp.
This functionality is supported by VISA/Mastercard debit/credit cards processed through BitStamp. Before initiating the trading process, a one-time verification (KYC) of your card details is required following which you can buy BTC instantly.
The limits on the cards are up to USD 5,000/EUR 5,000 daily and USD 20,000/EUR 20,000 monthly. The fee schedule is given below for the cards:
Any amount 5% (additional fee may be charged by the card issuer)
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CoinSpot is Australia’s native Bitcoin exchange operating in this space since 2013 and has earned quite a bit of respect too.
If you are an Australian, it is very easy to start on CoinSpot as verification barely takes any time and one can easily buy/sell BTC on it.
It acts as a broker and also has its marketplace where you can see order books to buy/sell Bitcoin according to the below-shown fee schedule:
Buy sell Bitcoin on CoinSpot
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6. LocalBitcoins (LBC)
LocalBitcoins is a Finland-based P2P escrow exchange that facilitates buying/selling of Bitcoin in more than 240 countries including Australia.
One can filter trades based on their country. For example, I have filtered out for Australia. You can also choose from the following payment methods to find a specific kind of trader:
Western Union etc…
Registration on LBC is also very easy and you can simply sign up using your email ID and get started by searching for suitable trades for yourself. This is the easiest way to buy Bitcoins in Australia using cash. Also, look at our this guide for inspiration: How To Purchase Bitcoins Legally In India [Tutorial]
Fees are quite nominal on LBC. Registering, buying, and selling Bitcoin is completely free. LocalBitcoins users who create advertisements are charged a 1% fee for every completed trade.
Note: Transactions to wallets of other LocalBitcoins users are free.
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7. Bitcoin ATMs In Australia
Another easy way to buy BTC in Australia is through Bitcoin ATMs.
The service that lets you find Bitcoin ATMs nearby you is Bitcoin ATM Radar. (Do refer this if you find any difficulty: How To Find A Bitcoin ATM Near You.)
Bitcoin ATMs In Australia
While some ATMs don’t require ID, some do before you can buy BTCs using the machine. Also, you will need Bitcoin wallets to receive your bitcoins. Just in case you don’t have one, pick one from our trusted Bitcoin wallet list.
Also read: How To Use A Bitcoin ATM – A Beginner’s Guide
Conclusion: Buying Bitcoins In Australia
Exchange Name Rating Based On Ease Of Use & Fee
LocalBitcoins (LBC) 8/10
Bitcoin ATMs In Australia 6/10
Buying Bitcoins around the world has become simpler over the years and Australia is no exception. There are some other domestic services in Australia that serve this purpose too, but we haven’t listed them here as we are not sure of them. Do share with us if you know of some reliable services.
A quick head-ups from our side: Never store your Bitcoins in any of the services because these are all hosted by third-party services. And your Bitcoins will be safe only as long as they are not getting hacked which is risky.