Best Bitcoin Apps in Australia
Bitcoin is the leading cryptocurrency in the world and the one with the highest price and market cap. It’s also the oldest currency with the strongest reputation today. If you want to buy Bitcoin in Australia, the easiest way is to use an app that is supported in AU.
That’s precisely what we are here to discuss. We’ll tell you all you need to know about Bitcoin apps so you can start investing and trading Bitcoin in no time. What’s more, we’ll give you detailed reviews of the very best Bitcoin apps available in Australia. Let’s begin.
Best Apps to Buy Bitcoin in Australia in 2022
Our team of crypto experts has tested most of the major Bitcoin apps available in Australia.
They tested the trading options, security features, the quality and user-friendliness of the platform, online reputation, special features, and more. As a result, they have selected the best ones that are suitable for new and experienced users alike. Here’s the table:
What Are Bitcoin Apps?
Bitcoin apps is an all-encompassing term we use to describe platforms where you get to buy, sell, and trade Bitcoin. That’s why these apps come in various forms.
You can use centralized crypto exchanges — the most common form of a Bitcoin app. However, you can also use broker platforms, decentralized finance (DeFi) apps, peer-to-peer (P2P) marketplaces, wallets, and even PayPal.
You can use all of these Bitcoin apps to buy, sell, and store Bitcoin, and the number of available cryptos will depend on the specific app. However, since Bitcoin is the most popular cryptocurrency today, you’ll be able to find it in almost every good crypto app.
It’s important to mention that these apps do not necessarily have to be downloaded to be used. They can also be browser-based websites you can access from most types of devices. This is the more common format, but you’ll also find that some come in the form of an app for your PC, Mac, tablet, Android, or iOS smartphone.
Most wallets store Bitcoin and other cryptocurrencies, but they can come in various shapes and forms. They can be programs, apps, websites, or even physical devices that typically resemble a USB stick.
Ways to Buy Bitcoin in Australia With Apps
There are many ways you can buy Bitcoin with apps. You will typically purchase the coins by paying for them with fiat currency or some other crypto. However, the rest of the process will depend on the exact type of app you’re using. Let’s take a look at the most common methods you can use.
How to Buy Bitcoin on Australian Cryptocurrency Exchanges
Buying Bitcoin on Australian Bitcoin exchange app is quite simple. You will, of course, first have to choose one that suits your needs. You’ll have to check the various aspects of each exchange to see if it’s good for you, or you can simply opt for one of our recommended options.
Once you’ve chosen the exchange, the process for buying Bitcoin will typically be quite similar across the board:
Step 1: Go to the official website
Step 2: Create an account and verify it
Step 3: Activate the two-factor authentication
Step 4: Connect a preferred payment option
Step 5: Deposit funds
Step 6: Click ‘Buy’
How to Buy Bitcoin Through Australian Broker App
Broker apps are pretty similar to exchanges, as they also act as platforms for buying or selling Bitcoin in Australia. You’ll typically get to follow the same procedure as you would on an exchange app, with one crucial difference — they allow you to use another crypto as collateral.
There are a few other differences, like the fact that the broker app sets the price of Bitcoin or other trading pairs while exchanges follow the current market prices. If you decide to use a broker instead of an exchange, you should carefully research the differences to ensure that this option is suitable for your needs.
How to Buy Bitcoin Australian P2P Exchanges
P2P or peer-to-peer exchanges let you trade Bitcoin directly with other people. They work a little bit differently than other options, but you still have to start by choosing a platform and creating an account.
Once you’re on the exchange, you can post a request for buying Bitcoin where you indicate the payment method and price. Alternatively, you can browse the listings and pick an offer from some other user.
The best part here is that many P2P exchanges allow users to grade other users, so you’ll get to find the best partners for trading based on reviews.
How to Buy Bitcoin with a Wallet
Regardless of their type, most crypto wallets are used for storing Bitcoin and other coins. However, some wallets have built-in crypto exchanges, so you can exchange different crypto coins or even purchase Bitcoin just as you would on a regular Bitcoin app.
These wallets are typically rare, but the good thing is that most of the popular Bitcoin exchange apps have built-in wallet apps or standalone wallets that connect to the exchange.
Other Australian Apps for Buying Bitcoin
There are plenty of other apps that you can use for trading Bitcoin. We can’t cover all of them, but it’s worth noting that you can use PayPal if you’re a US citizen, as the e-wallet has a built-in system for buying and storing Bitcoin. Other than that, you can also try DeFi apps, but they are primarily used for Ethereum as most of them run on the Ethereum blockchain.
Top 5 Bitcoin Apps in Australia Reviewed
You’ve seen the table, but now it’s time to take a look at the reviews for each Bitcoin app we recommend, together with the pros and cons.
Binance: The Largest Cryptocurrency Exchange (including Australia)
Binance is always the safest bet for most Bitcoin fans. It’s a centralised exchange platform used for trading hundreds of different coins, including Bitcoin. The best part is that it works worldwide. Moreover, it offers a separate platform for US users — due to the country’s specific crypto laws.
Binance also comes with various features, plus a user-friendly interface.
Coinbase: The Best Bitcoin App for Beginners
Coinbase is the most popular crypto exchange in the world, and that’s largely thanks to how easy it is to use. It’s, by far, the best for beginners, as you can quickly and seamlessly start investing in Bitcoin with fiat currency.
It offers a wide array of features and even lets you earn token rewards if you want to complete specific activities.
eToro: The Best Bitcoin Broker App in Australia
Voyager is an excellent crypto broker app that connects to many exchanges and offers commission-free trading. You also get to trade various cryptos and fiat currency for Bitcoin, all the while benefiting from competitive interest rates.
If you decide to register, you will have to download their app, but the actual installation and registration processes are pretty simple; you can get started in no time.
Exodus: The Best Crypto Wallet
It’s usually hard to decide which wallet to get for crypto, as there are two leaders in this sphere — Exodus and Trezor. However, we believe Exodus is the better choice as it’s more user-friendly and has a better-designed platform. However, as Trezor is a hardware wallet and it has good relations with Exodus, you can connect the two if you want to be as safe as you can get.
What Are the Benefits of Bitcoin Apps?
Each Bitcoin app has its own set of advantages, as each one is unique. However, a few benefits can be found across the board, at least when the best Bitcoin apps are involved, like the ones we recommend.
Easy Registration: The registration process on all the top Bitcoin apps is always quite simple. You only need to follow instructions and provide the information the app requires, and that’s it.
Great for Both Beginners and Advanced Users: Some apps are more complex than others, but you should be able to find an excellent Bitcoin app that isn’t too complicated for you, no matter the level of crypto experience you have.
Great Design and Smooth Operation: All the apps on our list work well and have a simple design. You’ll rarely run into an occasion where a bug or slow loading times affect your experience.
Excellent Security: Security is essential in the world of crypto. The best Bitcoin apps today use top-notch security measures and features, so there will be no need to worry while using them. However, they are safe for as long as you are keeping them safe with good passwords, two-factor authentication (2FA), and other measures.
What Are the Drawbacks of Buying Bitcoin Through Apps?
As always, there are some drawbacks as well. It can’t all be good with Bitcoin apps, but the good thing is that the benefits typically outweigh the disadvantages.
Lack of Anonymity: Despite what some people in the crypto world think, most quality Bitcoin apps today are centralised. As such, you can’t stay anonymous on them. Even though the Bitcoin blockchain doesn’t hold personal information on you, enabling you to be an anonymous owner of Bitcoin, the apps where you buy the coins keep your information.
Lack of Certain Payment Methods: The crypto world is not as popular as many mainstream industries, so it’s common that you can’t use some payment methods on a specific Bitcoin app.
Alternative Ways to Buy Bitcoin in Australia
Even though most of the methods for buying Bitcoin in Australia involve some form of a Bitcoin app, there are still a few alternative options you can explore to obtain Bitcoin:
Start getting your salary paid in Bitcoin if your employer is willing to allow this.
Ask a friend or family member with Bitcoin to send you some in exchange for something or as a gift.
Obtain Bitcoin through rewards or other prize offerings on specific sites.
Use Australian Bitcoin robots such as Bitcoin Aussie System.
And that’s about it, folks. We’ve told you everything you need to know about buying Bitcoin on some of the best Bitcoin apps available today. We hope you now have a clearer picture of what Bitcoin apps are and how they work, so you can finally get your hands on some Bitcoin.