Finance

Buying bitcoins in Australia: The entire guide

Buying bitcoins in Australia: The entire guide

You’ve probably all heard about Bitcoins, but what is a Bitcoin? Have you ever thought about this question?

 Best Bitcoin Exchange in the World for Bitcoin Trade 

Bitcoin is booming in Australia and it’s not just what I think. There are graphics supporting the story. (The LBC cards are a good indication of the popularity of the BTC in this country).

 However, for Australians who have not yet started their Bitcoin adventure, here is a compiled list of popular services for buying Bitcoins in Australia.

 Buy bitcoins in Australia 

1. Coinmama (instant service)

Coinmama is a cryptosphere-based service based in Iceland since 2013. And the advantage of this service is that almost every country in the world can use their services, including Australia.

 By using Coinmama, you can buy Bitcoins in Australia via a Visa / MasterCard credit/debit card. Remember that Coinmama is an exclusive buying service, which means you can not sell BTC here.

 To start using Coinmama, you must register using your email ID, after which you will be asked to submit certain documents proving your identity. The more documentation you provide, the more money you can buy on Coinmama.

2. Changelly

Changelly is our favorite service and we are happy that it covers Australia in its countries of assistance.

 Here you can simply register using your email ID and exchange any cryptocurrency supported against Bitcoins if you have one. If you do not, you can also buy Bitcoins using credit/debit cards. 

3. CEX.io

The CEX.io service is one of the pioneering cryptosphere services operating since 2013 in the UK, but the good news is that it supports more than 100 countries, including Australia.

 On CEX.io, you can buy BTC in two ways:

1. By deposit fiat currency

2. By making a payment using their credit/debit cards

If you are in Australia and have access to VISA / MasterCard debit/credit cards, you can register on CEX.io.

Once you have completed your KYC and registered your cards, you will be able to buy more BTCs based on the level of KYC you have completed.

In addition, you can deposit and withdraw funds directly from the CEX mobile app. The application is very user-friendly and allows you to exchange Bitcoins at any time!

4. BitStamp

BitStamp is a known name for anyone who has been involved in Bitcoin space. It is a UK based market, reliable and serving the industry since 2011.

 The good news is that the list of BitStamp supported countries contains Australia, which means you can buy Bitcoins in Australia via BitStamp.

 This feature is supported by VISA / Mastercard debit / credit cards processed through BitStamp. Before starting the trading process, a spot check (KYC) of your card information is required, after which you can buy BTC instantly.

 Card limits range up to USD 5,000 / EUR 5,000 per day and USD 20,000 / EUR 20,000 per month. The fee schedule is given below for the cards:

Amount

fees

Any amount

5% (additional fees may be charged by the card issuer)

 5. CoinSpot

CoinSpot is Australia’s Australian Bitcoin Stock Exchange, operating in this field since 2013, and has also gained a bit of respect.

 If you are Australian, it is effortless to start on CoinSpot because the verification only takes a few moments and you can easily buy/sell BTC on it.

 It acts as a broker and also has its market place where you can consult the order books to buy/sell Bitcoin according to the fee schedule below:

6. LocalBitcoins (LBC)

 LocalBitcoins is a P2P exchange in Finland that facilitates the purchase/sale of Bitcoin in more than 240 countries, including Australia.

 We can filter trades according to their country.

For example, I filtered for Australia. You can also choose from the following payment methods to find a specific merchant type:

  • Cash

  • Pay Pal

  • Payoneer

  • SEPA

  • Western Union etc

 It is also effortless to register on LBC. You can simply sign up using your email ID and get started by looking for the right jobs. This is the easiest way to buy Bitcoins in Australia with money.

Fees are pretty minimal on LBC. The registration, purchase and sale of Bitcoin are completely free. LocalBitcoins users who create ads pay a 1% fee for each transaction.

Note: Portfolio transactions for other LocalBitcoins users are free.

7. Bitcoin ATMs in Australia

Another easy way to buy BTC in Australia is to use Bitcoin ATMs.

The service that allows you to find Bitcoin ATMs near you is Bitcoin ATM Rad

Some ATMs do not require identification, but some do so before you can buy BTCs using the machine. In addition, you will need Bitcoin wallets to receive your bitcoins.

 Buying Bitcoins around the world has become simpler over the years and Australia is no exception. There are other domestic services in Australia that also serve this purpose, but we have not listed them here because we are not sure. Share with us if you know of reliable services.

 A quick warning from us: Never store your Bitcoins in any of the services as they are all hosted by third-party services. And your Bitcoins will be safe until they are hacked, which is risky.

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