Review: Bitcoin Australia cryptocurrency exchange
Buy bitcoin and Ethereum with cash with this Australian-owned broker.
|Product Name||Bitcoin Australia Cryptocurrency Exchange|
|Trading Fee||Fees vary|
What's in this guide?
- Which fiat and cryptocurrencies are supported?
- Which payment methods are accepted?
- What's it like to use Bitcoin Australia?
- Fees and limits
- How fast will my funds be available?
- Is Bitcoin Australia safe to use?
- How do I start trading at Bitcoin Australia?
- What else do I need to know about Bitcoin Australia?
- In a nutshell
- Compare Bitcoin Australia against other exchanges
- Frequently asked questions
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: AUD
- Supported cryptocurrencies: 2 cryptocurrencies
Which payment methods are accepted?
What's it like to use Bitcoin Australia?
Fees and limits
The fees below are accurate as of 28 August 2019.
Platform trading fees
Bitcoin Australia charges buyers a 5% to 7% fee, plus GST, on Bitcoin purchases. At the time of writing, it also sells Bitcoin at about 1% above the current market rate.
The trading fee depends on your payment method.
Bitcoin Australia doesn't hold funds for its users. Instead, you provide your Bitcoin wallet address when buying Bitcoin.
As such, all deposit, withdrawal and transaction fees are built into the trading fees listed above.
Note that the fee table above only shows the fees charged by Bitcoin Australia. Payment providers such as banks may also charge transfer fees on their end.
How fast will my funds be available?
Up to 2 hours
You should receive your Bitcoin within two hours after placing an order during business hours.
You will typically receive your money the next day when selling Bitcoin.
Is Bitcoin Australia safe to use?
- Regulation. Bitcoin Australia is registered with AUSTRAC in line with its obligations as a business that buys and sells Bitcoin. It complies with AUSTRAC's AML/KYC requirements.
- Verification process. Bitcoin Australia verifies users through Australia's PostID system.
- Safety features. Bitcoin Australia is a non-custodial cryptocurrency broker. It does not hold your cryptocurrency or money for extended periods. Instead, you place an order and it will process it.
How do I start trading at Bitcoin Australia?
What else do I need to know about Bitcoin Australia?
Bitcoin Australia was founded in Australia in 2015 by current CEO Rupert Hackett. Since then, it has established a presence in other countries.
Hackett says he wants Bitcoin Australia to be an ambassador for Bitcoin.
In a nutshell
- Simple. The simple order experience makes buying Bitcoin straightforward.
- Non-custodial. Bitcoin Australia does not take custody of your cryptocurrency.
- Wide range of payment methods. You have a wide range of payment options available.
- Very high fees. Bitcoin Australia's fees range from 5% to 7%, plus GST, on top of the above-market rates it charges.
- Poor rates. Bitcoin Australia sells Bitcoin at around 1% above mid-market rates.
- Limited selection. You can only buy Bitcoin or Ether, and you can only sell Bitcoin.
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