Bitcoin Australia review

Buy bitcoin and Ethereum with cash with this Australian-owned broker.

If you want to buy and sell bitcoin or buy Ethereum quickly and easily, Bitcoin Australia is well worth considering. This Australian platform lets you buy bitcoin and Ethereum with cash, as well as sell bitcoin for Australian dollars (AUD).

This review outlines the features and fees of Bitcoin Australia to help you decide whether it's the right crypto brokerage for your needs.

Product Name Bitcoin Australia Cryptocurrency Exchange
Fiat Currencies AUD, BTC
Cryptocurrencies BTC, ETH
Deposit Methods POLi, Cash, Flexepin
Trading Fee Fees vary
Deposit Fees None
Withdrawal Fees None

Pros

  • A very simple system to use
  • Lets you buy bitcoin with cash
  • Lets you buy bitcoin at hundreds of physical locations around Australia
  • Online deposits also supported

Cons

  • Expensive
  • Only supports bitcoin and Ethereum
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Exchanges like Bitcoin Australia

What is Bitcoin Australia?

Bitcoin Australia, formerly known as Bitcoin.com.au, is a cryptocurrency broker based in Melbourne. Its most distinctive feature is that it lets you pay cash for bitcoin at hundreds of different locations around Australia.

You can either deposit AUD at one of 1,200 participating newsagents around the country, or make a deposit in store at a Commonwealth Bank branch or ATM. Alternatively, you can send an online transfer via POLi Payments or top-up your account using a Flexepin voucher. Once Bitcoin Australia receives your deposit, orders are processed instantly.

Bitcoin Australia is an AUSTRAC-registered exchange and offers live chat, email and telephone customer support seven days a week.

Which cryptocurrencies can I buy/sell?

Bitcoin Australia allows you to buy bitcoin and Ethereum with AUD, and to sell bitcoin for AUD.

Available countries

As its name suggests, Bitcoin Australia is designed for Australian users.

Which payment methods are accepted

You have several payment options with Bitcoin Australia. These are outlined in the table below.

Payment option How it works
POLi Payments Make a fast online payment from your bank account.
Commonwealth Bank Make an over-the-counter or ATM cash deposit at any Commonwealth Bank location.
Participating newsagents Find a participating newsagent, place an order there and pay cash.
Flexepin voucher Buy a Flexepin voucher with cash and use it to place your order online.

Note that you will need your own cryptocurrency wallet before you can buy. You will have to provide your wallet address to the service when placing an order so that Bitcoin Australia knows where to send your funds.

Learn more about cryptocurrency wallets.

How much will it cost me to use Bitcoin Australia?

Bitcoin Australia charges a transaction fee on all bitcoin and Ethereum purchases:

  • POLi Payments. 5% transaction fee + GST on commission
  • Cash deposit at bank branch. 5% transaction fee + GST on commission
  • Cash deposit at newsagent. 5% transaction fee + GST on commission
  • Flexepin voucher deposit. 7% transaction fee +2% surcharge +GST on commission

There is no commission charged when you use the platform to sell bitcoin.

What are the transaction limits?

The daily, weekly and per order limits vary depending on how you placed your order and made your deposit.

In all cases there is a minimum order of AU$50 and a daily maximum of $9,000 per person.

  • POLi Payments. $9,000 limit.
  • Cash deposit at bank branch. $8,000 per order maximum.
  • Cash deposit at newsagent. $2,500 per order maximum. Combined limit of $9,000.
  • Flexepin voucher deposit. $500 daily limit and $1,000 weekly limit (unverified), or $1,000 daily limit and $3,500 weekly limit (verified).

Is it safe to use Bitcoin Australia?

Bitcoin Australia is Australian owned and operated and is registered with AUSTRAC. Unless you're paying via Flexepin, you'll need to verify your ID via Australia Post's Digital ID by providing one or two ID document numbers (such as your driver's licence or passport) and your residential address.

There is very little need to worry about hacking when using Bitcoin Australia because it simply sends you bitcoin that you’ve purchased rather than actually holding your funds.

You can contact the service by:

Or find it on Facebook, LinkedIn, Google+ or Twitter.

Customer support

If you have a query about a particular transaction or about the service Bitcoin Australia offers, the platform's customer support team is available from 9am to 6pm (AEST) seven days a week. The team can be contacted via phone, email and live chat.

Pros and cons

Pros

  • A very simple system to use
  • Lets you buy bitcoin with cash
  • Lets you buy bitcoin at hundreds of physical locations around Australia
  • Online deposits also supported

Cons

  • Expensive
  • Only supports bitcoin and Ethereum

Next steps

Compare Bitcoin Australia with a range of other cryptocurrency brokers to decide whether it's the right platform for you. If it is, simply head to the Bitcoin Australia website, verify your ID and follow the prompts to place your first order.

Bitcoin.com.au website

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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