HomeHow to Buy Bitcoin in 2023

How to Buy Bitcoin in Australia

Last updated 30th Jan 2023

Bitcoin (BTC) is the largest cryptocurrency by market capitalisation. Owing to the insane popularity of this digital gold, you will easily find Bitcoin listed on almost every cryptocurrency exchange. This creates a challenge, especially for newcomers, to identify the best platform out of the entire pool of platforms operating in the market.

For this purpose, we have curated this comprehensive guide, disclosing the best Bitcoin exchanges and brokers to use in Australia when buying Bitcoin. These exchanges have been cherry-picked based on multiple essential parameters. Moving forward, you will find other ways to earn money with Bitcoin in 2023.

Best Exchanges to Buy Bitcoin in Australia

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eToro - The Overall Best Way to Buy Bitcoin in Australia

The top choice for buying Bitcoin is eToro. This platform offers a premium investing experience while providing valuable services like social trading, e-wallet deposits, demo accounts, and learning courses. You can learn more about the broker below:

💰 Trade Values:CFDs, ETFs, Currencies, Indices, Cryptocurrencies, Stocks, and Commodities.
📊 Software:Website and Smartphone App.
🏆 Demo Account Available:Yes
📺 Ease of Use:Excellent
⭐ Our Rating:5/5
📱 App Available:iOS and Android
🧩 Regulation:Cyprus Securities and Exchange Commission (CySEC)
💰 Fees:1% of purchase order
🔁 CFDs Available:Yes
⚽ Social Trading:Yes

Best Platforms to Buy and Trade Bitcoin in Australia

This part of the guide walks you through the top platforms for buying or trading Bitcoin in Australia.

Buy Bitcoin Using Cryptocurrency Brokers in Australia - The Easiest Way

It is easy to use a cryptocurrency broker to acquire Bitcoin because of the simple sign-up process and multiple deposit methods available. The most convenient platforms are listed in the table below:

ProviderFee (AUD 1000)Get Started
🥇 eToro$10Start with eToro now
🥈 Binance$0.2 to $1Start with Binance now
🥉 Coinbase$0 to $6Start with Coinbase now


eToro is the most beginner-friendly platform as it offers an educational section containing many courses. Moreover, you can open a demo account to test the trading app before risking real money.


Binance is one of the renowned cryptocurrency exchanges with ultra-low trading fees and intuitive trading interfaces. On top of that, the platform supports multiple trading pairs for Bitcoin, making it convenient to convert most coins into BTC.


One of the top choices is Coinbase because the platform provides a premium service for beginners with its simple interfaces, quick deposit times, and educational content. Also, their Coinbase Pro app comes with charts and multiple order types that can help buy Bitcoin.

Buy Bitcoin on eToro: Step-By-Step Guide

Step 1: Open eToro
Step 2: Verify your identity
Step 3: Deposit
Step 4: Buy Bitcoin
Step 5: Send Bitcoin to a wallet

Buy Bitcoin On eToro Now

Best Wallet to Buy and Store Bitcoin in Australia - Bitcoin Wallet Comparison

Bitcoin wallets are software or hardware devices that store your cryptocurrency investments. The wallets offer superior protection because you have the custody of keys (instead of exchanges) to access the coins. Remember, not your keys, not your crypto. Therefore, it is better to withdraw to a personal crypto wallet. The wallets listed below can be used to store Bitcoin and other cryptocurrencies.

ProviderWallet TypeGet Started
🥇 Ledger Nano XHardwareStart with Ledger now
🥈 Trezor Model THardwareStart with Trezor now
🥉 Trust WalletSoftwareStart with Trust Wallet now

How to Sell Bitcoin in 2023 Using eToro?

Selling coins like BTC is a smooth process with eToro. Here’s a simple guideline for cashing out your investment:

  • Step 1: Sign in to eToro and head over to the cryptocurrencies tab. Select BTC to open the trading interface.

  • Step 2: At the top of the page, select the sell option and input the amount of BTC to exchange. Review the order and press “Open Trade” to finish.

For more information, feel free to check out this comprehensive post How to Sell Bitcoin in Australia

Buy Bitcoin in Australia Using CFDs - Best for Trading

Contract for difference (CFD) is a different way of investing in Bitcoin. These contracts are issued by crypto brokers like eToro, Plus500, and Eightcap. However, with this method, you cannot spend your Bitcoin because you are purchasing a derivative product.

ProviderFee (AUD 1000)Get Started
🥇 eToro$10 buying or selling crypto.Start with eToro now
🥈 Plus500The market spread is 0.30%.Start with Plus500 now
🥉 EightcapBitcoin Spread (p/coin) is 12Start with Eightcap now


eToro is brilliant for investing due to its straightforward trading interfaces and deposit methods. Also, they’re the only broker that allows you to withdraw to their cryptocurrency wallet.


Plus500 lets you set up alerts, indicators, and view the trading graph to help trade. Moreover, beginners can always access numerous courses, news articles, and analytics. Also, you can set up price alerts on assets you want to track.


Eightcap has many useful features like trade order types, different trading software, educational content, and a news section. It also comes with an interactive smartphone app that lets you trade while on the go.

Best Apps to Buy Bitcoin in Australia - Most Convenient

Trading on a smartphone app is convenient with the listed options underneath. They all provide interactive screens, Bitcoin trading, and popular deposit methods. Also, some of the exchanges have an instant buy section, letting you conveniently use a bank card to buy BTC. We selected some of the best Bitcoin apps in Australia to help you decide in terms of fees and some other considerations.

Top 3 Bitcoin apps in Australia

Bitcoin appFee (AUD 1000)Get Started
🥇 Coinbase$0 to $6Download now
🥈 Crypto.com$0 to $0.75Download now
🥉 Binance$0.2 to $1Download now

Buy Bitcoin on eToro App in Australia: Step-By-Step Guide

Step 1: Create an account
Step 2: Verification
Step 3: Deposit money
Step 4: Buy BTC

Buy Bitcoin On eToro Now

Buy Bitcoin With Exchanges in Australia- The Cheapest Way

Cryptocurrency exchanges offer the best trading experience and competitive fee rates. After searching across all the available options in Australia, we have shortlisted Binance, KuCoin, and Kraken as the most cost-effective platforms to buy Bitcoin.

ProviderFee (AUD 1000)Get Started
🥇 Binance$0.2 to $1Start with Binance now
🥈 KuCoin$0.05 to $1Start with KuCoin now
🥉 Kraken$0 to $0.5Start with Kraken now

Buy Bitcoin on Binance in Australia: Step-by-Step Guide

Step 1: Open Binance and register.
Step 2: Deposit
Step 3: Open the trading interface
Step 4: Complete the trade
Step 5: Confirm the transaction using the blockchain explorer

Buy Bitcoin On Binance

Buy Bitcoin Using Decentralized Exchanges (DEX) in Australia - The New Way

DEXs (Decentralized exchanges) are dApps built on top of a blockchain network like Ethereum or BNB Smart Chain that facilitate trade orders using a liquidity pool system. You can start using a DEX by connecting your decentralised wallet like MetaMask to the Dapp. Decentralised exchanges do not require ID verification and are not regulated. The most user-friendly decentralised exchanges to buy Bitcoin are listed below:

ProviderFee (AUD 1000)Get Started
🥇 BisqVariesGet started now
🥈 ThorSwapVariesGet started now
🥉 DefiSpotVariesGet started now

Can You Buy Bitcoin Using P2P Services in Australia?

Peer-to-peer platforms connect buyers and sellers for a small fee. You can purchase Bitcoin from verified sellers with a set price for each coin.

ProviderFee (AUD 1000)Get Started
🥇 Localbitcoins$10 for every completed tradeGet started now
🥈 Paxful$5 to $10 on Sell. No fee on Buy.Get started now
🥉 Bisq0.12% by maker and 0.88% by takerGet started now

Can You Buy Bitcoin Using Other Trading Platforms in Australia?

Bitcoin being the first cryptocurrency ever created and having the largest market cap, it’s listed on most platforms offering cryptocurrencies. The table below will disclose the fees and if BTC is listed in their exchange.

Cryptocurrency PlatformCan You Buy Bitcoin?Fee (AUD 1000)Review
BinanceYes$0.2 to $1Binance review
BitstampYes$0 to $4.Bitstamp review
BittrexYes$0 to $3.5Bittrex review
CoinbaseYes$0 to $6Coinbase review
PoloniexYes$0 to $1.55Poloniex review
BitMartYes$0.6 to $2.5N/A
BitrueYes$0.98 to $2.0Bitrue review
Crypto.comYes$0 to $0.75N/A
FidelityYes$0 commissionsN/A
Gate.ioYes$0.55 to $2N/A
HotbitYesUpto $2N/A
KrakenYes$0 to $0.5Kraken review
KuCoinYes$0.05 to $1KuCoin review
Digital SurgeYes$1 to $5N/A
CoinSpotYes$1 to $10N/A

What Is the Difference Between Buying Bitcoin and CFDs?

When you purchase Bitcoin from an exchange, you can withdraw, spend, lend, or store it. However, with a derivative product like CFDs, you cannot move your coins and must leave your invested funds within the broker. Buying CFDs means you will be invested in Bitcoin while not actually owning it.


Easy to get started with CFDs.
Can short or long Bitcoin.
Brokers issuing CFDs are secure and regulated.
Brokers provide demo accounts so you can test their services before buying Bitcoin CFDs.


No asset ownership.
You must leave your funds in the broker.
Usually higher fees with CFD brokers than exchanges.
You cannot spend your Bitcoin on services or products.

Best Ways to Buy Bitcoin in Australia

Here is a rundown of the top platforms for specific payment methods when buying Bitcoin.

Buy Bitcoin Instantly With Online Banking in Australia- The Fastest Way

Online banking is a popular deposit method because it’s fast and cheap. Coinbase is the overall best platform for buying Bitcoin via this payment option because it's secure, straightforward to set up, and you can use recurring payments.

Buy Bitcoin With PayPal in Australia - The Safest Way

You cannot directly buy Bitcoin from PayPal if you are a resident of Australia. However, you can use PayPal as a deposit method to fund your cryptocurrency exchange account with fiat like AUD and then use the account balance to buy Bitcoin.

Buy Bitcoin Using a Debit Card in Australia - The Cheapest Way

The most low-cost way to buy BTC with a debit card is to use it as a deposit method on Coinbase. Also, avoid using instant buy sections as they have significantly higher fees than the spot trading platform.

Buy Bitcoin Using a Credit Card in Australia

Crypto.com is a premium exchange offering several Bitcoin trading pairs at competitive fee rates. The platform accepts multiple funding methods, including credit cards.

Best Platforms to Buy Bitcoin in Other Countries

Laws and regulations can impact the accessibility of exchanges worldwide. Therefore, the top provider in each country will vary based on the nation’s individual cryptocurrency regulations. Here you can explore the best platforms to use along with the starting fee rates.

Country to Buy Bitcoin inBest ProviderProvider TypeFee
UKCoinbaseExchange$0 to $6
CanadaBinanceExchange$0.2 to $1
HawaiiCEX.ioExchange$0 to $2.5
JapanBitFlyerExchange$0.1 to $1.5
NepalKrakenExchange$0 to $0.5
New ZealandBinanceExchange$0.2 to $1
PakistanCoinbaseExchange$0 to $6
PhilippinesBinanceExchange$0.2 to $1
SingaporeCrypto.comExchange$0 to $0.75
South AfricaeToroExchange$10
UAEBinanceExchange$0.2 to $1

What Are the Fees When Buying Bitcoin in Australia?

This table calculates the costs of buying 1000 AUD worth of Bitcoin and holding it for 30-days.

PlatformeToro BrokerPlus500 CFDBinance Exchange
Deposit Fees$0$0$0
Purchase Fees$10Market Spread$0.2 to $1
Holding Fees$0$0$0
Selling Fees$10Market Spread$0.2 to $1
Payout Fees$5$00.0002 BTC
Total fees$25Market Spread$0.401 to $2

Cheapest Way to Buy Bitcoin in Australia

Crypto exchanges have the best fee structures that work on a tier-based system. This means if you have a high 30-day trading volume, you’ll receive better fee rates when buying Bitcoin.

Moreover, exchanges like KuCoin and Binance have their native cryptocurrencies that can be used for paying trading fees to enjoy an additional discount on trading fees. KCS (the native token of Kucoin) gives a 20% discount, while BNB (the native token of Binance) gives 25% off.

ProviderFee (AUD 1000)Get Started
🥇 Crypto.com$0 to $0.75Download now
🥈 Binance$0.2 to $1Download now

Fastest Way to Buy Bitcoin in Australia

The platforms discussed in this section offer fast sign-up processes and easy-to-use trading interface. Also, all these platforms provide educational resources as a bonus for users who want to improve their crypto literacy and investment knowledge. The fastest broker is eToro, followed by Coinbase and Crypto.com.

ProviderFee (AUD 1000)Get Started
🥇 eToro$10Get started now
🥈 Coinbase$0 to $6Get started now
🥉 Crypto.com$0 to $0.75Get started now

How to Buy Bitcoin Anonymously in Australia?

This section covers the top platforms for buying Bitcoin anonymously or without ID verification.

How to Buy Bitcoin Without Registration or KYC in Australia?

You can use a decentralised exchange to avoid creating an account or fulfilling the KYC process. These dApps are not owned by a central company, and they do not require verifying your identity to use.

How to Buy Bitcoin Without Verification in Australia?

Most cryptocurrency exchanges (centralised) require the users to complete the KYC verification to start trading cryptocurrencies like Bitcoin, depositing fiat currency, and executing withdrawals. However, some exchanges like Kucoin allow P2P crypto trading without KYC verification.

Can You Buy Bitcoin Offline in Australia?

Although you cannot buy Bitcoin offline since all cryptocurrency platforms need an internet connection to function, you can try paper wallets. Paper wallets can be used to receive (not buy) Bitcoins in an offline environment.

Should You Buy or Sell Bitcoin?

Bitcoin is the most popular cryptocurrency owned by individuals, businesses, banks, and institutions. It has led and peaked in all bull runs since its creation. Therefore, most investors would consider Bitcoin an essential asset in their portfolio. If you’re undecided on BTC, here are some pros & cons:

Why should you buy Bitcoin?Why should you sell Bitcoin?
Bitcoin has the largest market cap.There are better payment coins, like Cardano.
Bitcoin is decentralised.Regulations and bans negatively impact Bitcoin.
Bitcoin is the most popular cryptocurrency.Drops heavily during bear markets.
BTC is often referred to as digital gold for its store value.Unregulated.
Bitcoin performs amazingly during bull runs.Slow transfer speeds compared to other blockchains, like Solana.

Do You Need to Pay Tax on Bitcoin in Australia?

Australian Taxation Office (ATO) requires individuals to pay tax on net capital gains from selling, trading, spending or gifting cryptocurrency like Bitcoin. It is to be noted that the amount of tax is calculated based on your tax bracket and how long you hold. For more information, you should check the official website of ATO.

Bitcoin Price Prediction: What Is the Future of Bitcoin?

Speculating the future value of Bitcoin is challenging, and many experts have voiced their opinions. This section will cover what can impact BTC’s price.

What Impacts Bitcoin Price?

These are the five main factors that can swing Bitcoin’s value:

  • Demand: Increased demand with lower supply grows Bitcoin’s price as investors are willing to pay more for each coin.

  • Market status: Bitcoin performs best during bull runs as more money goes into the cryptocurrency market. On the other hand, Bitcoin loses tremendous value during bear markets as its price bottoms out.

  • Regulations: Countries regulating and implementing new crypto laws can impact the growth of Bitcoin negatively or positively. Crypto-friendly nations have more potential investors, which increases the demand for Bitcoin.

  • Adoption: Bitcoin becoming more adopted by individuals and businesses boosts its value as it gets utilised more.

  • Influencers: Bitcoin trending on social media is great for increasing its popularity and demand on a global level. More people find the cryptocurrency market and begin exploring coins like Bitcoin.

Historical Bitcoin Course: Major Milestones in the History of Bitcoin:

Here, you can examine a few major milestones since Bitcoin’s creation:

Current Price Prediction News

Below, you can read about what experts have to say about the future potential of Bitcoin.

Other Ways to Make Money With Bitcoin in 2023

The following part of the guide shows alternative ways to earn money with Bitcoin.

Stake Bitcoin Using DeFi or CeFi

Unfortunately, Bitcoin cannot be staked as it uses a POW (Proof-of-work) consensus mechanism. Only those coins can be staked that operate on top of a blockchain network following a Proof-of-Stake consensus mechanism.

Buy Bitcoin Using ETPs (ETFs & ETNs)

Exchange-traded product (ETPs) are securities traded on the stock exchange. The best place to buy Bitcoin ETPs is 21Shares AG

Buy and Sell NFTs Using Bitcoin

While popular NFT marketplaces like OpenSea, Mintable, and Foundation only allow purchases with Ethereum, the closest any NFT project has come to Bitcoin is Stacks, which verifies NFT transactions on the Bitcoin blockchain. However, you, as a buyer, can only purchase in their native tokens called Stacks.

There is no marketplace where you can buy or sell NFTs with Bitcoin. Hence, you would need to convert your BTC to the NFT platform’s supported cryptocurrencies.

Buy Stocks and Shares in Companies Owning Bitcoin

Tesla is one of the largest global companies investing in Bitcoin. However, the company has sold 75% of its holdings to improve its liquidity position. You can buy their stock conveniently with eToro.

Bitcoin Mining

Bitcoin mining is a process in which your GPU solves complex cryptographic hash puzzles to verify transactions on the blockchain. In return, you are rewarded with Bitcoin for allocating your computational power.

Unfortunately, Bitcoin mining is not worth it today as you need to invest in expensive GPUs to be profitable. Also, Bitcoin’s halving is expected on May 4th, 2024. This is when mining each block becomes harder, and rewards are cut in half.

Use Bitcoin Faucets

Bitcoin faucets are platforms that offer a small amount of bitcoins after completing a quiz or a task. The best platforms to earn crypto rewards via faucets are Coinbase and Binance, as these two platforms have a great selection of quizzes to take. However, you are likely to earn different cryptocurrencies, which you can sell after for Bitcoin.

What Cryptocurrencies Are Similar to Bitcoin?

Here you’ll find different payment cryptocurrencies similar to Bitcoin that you may find interesting.

CoinSymbolLearn how to buy
LitecoinLTCBuy Litecoin
EthereumETHBuy Ethereum
DogecoinDOGEBuy Dogecoin
Bitcoin CashBCHBuy Bitcoin Cash
ZcashZECBuy Zcash
RippleXRPBuy Ripple

Is It Still Worth Investing in Bitcoin or Not?

Bitcoin is a behemoth in the cryptocurrency space in terms of its market cap and global adoption. It has performed best during bull runs and gathered a loyal community that supports a decentralised economy. Factoring in all aspects of Bitcoin, it’s definitely worth buying and holding long-term. Note: Not a Financial Advice (NFA).


What Is the Best Provider to Buy Bitcoin in Australia?
What Is the Cheapest Provider to Buy Bitcoin in Australia?
Is It Worth Investing in Bitcoin Right Now?
Is There a Limit to How Many Bitcoin I Can Buy?
Can You Buy Bitcoin on the Blockchain?
What Can You Buy With Bitcoin in Australia?
Danny Maiorca

Danny Maiorca