How to buy Bitcoin (BTC) in Australia

Want your own crypto castle? The beginner-friendly guide to buying Bitcoin like an expert.

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Before you start

  • Bitcoin is a purely digital currency that exists on the internet.
  • While 1 Bitcoin is worth tens of thousands of dollars, you don't have to buy a full Bitcoin.
  • Bitcoin has its own unique risk and reward profile and it's important you understand how to safely store your Bitcoin before you buy any.

How to buy Bitcoin in Australia

The original cryptocurrency, Bitcoin (BTC) is arguably the best-performing asset of all time. Launched in 2009, Bitcoins could originally be obtained for effectively nothing and are now worth more than $100,000 each, having hit a new record price in late 2024.1

The best way to buy Bitcoin in Australia is using a cryptocurrency exchange or trading platform.

If you're ready to buy now, you can follow these 5 steps to buying Bitcoin.

If you want more options on where to buy BTC, you can compare other ways to buy Bitcoin like Bitcoin ETFs.

Otherwise, you can learn more about the process of buying Bitcoin, including its investment profile, security considerations, payment methods and more.

How to buy Bitcoin in 5 steps

While there's a few ways to invest in Bitcoin, the easiest method for beginners is generally to buy Bitcoin through a crypto exchange or platform that lets you deposit funds and buy Bitcoin directly using Australian dollars (AUD).

This will save you having to convert your AUD into another currency and potentially help you save on fees. Thankfully, there are quite a few exchanges that let you buy Bitcoin with AUD, including Kraken, CoinSpot and Swyftx.

Follow the steps below to get started:

  1. Find an exchange
    For beginners, fees, AUD support and ease-of-use might be your top priorities when choosing where to buy BTC. You can compare our picks for the best places to buy Bitcoin.
  2. Create an account
    Once you've chosen the platform you want to use you will need to create an account. You will need to provide some photo ID like a driver's licence or passport to complete the process. You may also be required to take a selfie to prove your identity in accordance with Australian law.
  3. Choose a payment method
    It's possible to deposit funds using bank transfer, debit or credit card, PayPal and more, but using bank deposit or PayID to a crypto exchange can mean you don't pay any fees. Alternatively, you may already have a specific payment method in mind, so you could instead start by choosing an exchange that supports it – such as finding a platform that accepts PayID or debit card.
  4. Purchase your Bitcoin
    Depending on which platform you choose, there may be a number of ways to buy BTC. The spot market is typically where fees are lowest but it may require some getting used to if you've never used an investment platform before. The easiest method is usually using the "instant purchase" option, but this is likely to come with higher fees.
  5. Safely store your Bitcoin
    Once you've bought Bitcoin, you have the choice of keeping it on the exchange or platform you bought it from, or transferring it to your own crypto wallet. While it can be more convenient to leave it on the exchange, it's generally recommended you move your Bitcoin to a private wallet for added security and safety. Find out more about storing your Bitcoin.

Where's the best Australian site to buy Bitcoin?

The easiest way for a beginner to buy Bitcoin is usually through a crypto exchange.

However, what's best for you will depend on your preferred payment method and investment goals.

To help you choose, we've analysed 16 cryptocurrency trading platforms in Australia on things like fees and payment methods.

Our goal is to help you find the platform that best suits your needs and budget. All of the platforms on this page are registered with AUSTRAC (Australian Transaction Reports and Analysis Centre), which regulates digital currency exchanges in Australia.

Our picks for the best places to buy

This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

How to buy Bitcoin from a crypto exchange

As we've already mentioned, buying BTC on a crypto exchange is the most common way to invest in Bitcoin. It's also one of the most beginner-friendly.

Exchanges such as CoinSpot, Swyftx and Kraken are some of the most widely used crypto exchanges. They also enable you to buy other cryptocurrencies if you want to expand your portfolio beyond BTC.

Most Australian exchanges let you buy Bitcoin instantly using cash deposited from a bank account.

Some also let you buy with debit card or credit card. Be aware though that purchasing Bitcoin with a card is typically the most expensive option, in terms of fees.

You can compare Australian crypto exchanges by available payments below:

1 - 10 of 25
Name Product GXFCY Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Go to site
Exclusive
EXCLUSIVE
CoinSpot
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

1

500

Get $20 in BTC when you make a deposit. T&Cs apply.
Go to site

Capital at risk

View details
Best Rated BrandExclusive
EXCLUSIVE
eToro Crypto
Bank transfer, Credit card, Debit card, PayPal, eToro Money

27

107

Get a US$50 bonus when you buy at least US$500 in crypto. T&Cs apply.
Go to site

Capital at risk

View details
Bitcoin.com.au
OFFER
Bitcoin.com.au
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

1

30

Get $10 of Bitcoin when you verify your account. T&Cs apply.
Go to site

Capital at risk

View details
Finder Award
Kraken
Credit card, Cryptocurrency, Debit card, PayPal, PayID

7

295

Go to site

Capital at risk

View details
Finder AwardExclusive
EXCLUSIVE
Swyftx
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

3

432

Get $20 in BTC when you verify your account. T&Cs apply.
Go to site

Capital at risk

View details
CMC Invest
BPAY, Bank transfer (Direct Deposit), Fast deposit

1

8

Go to site

Capital at risk

View details
OFFER
Independent Reserve
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

4

30

Get $10 of Bitcoin when you verify your account. T&Cs apply.
Go to site

Capital at risk

View details
Finder AwardExclusive
EXCLUSIVE
Coinstash
Bank transfer, Cryptocurrency, Osko, PayID

1

1071

Finder exclusive: Get up to $200 BTC when you sign up and trade certain amounts. T&Cs apply.
Go to site

Capital at risk

View details
Day1x
Day1x
Credit card, Cryptocurrency, PayID, Bank Wire

1

23

Go to site

Capital at risk

View details
Exclusive
EXCLUSIVE
Digital Surge
Bank transfer, Cryptocurrency, Osko, PayID

1

401

Receive $10 BTC on sign-up and verification. T&Cs apply.
Go to site

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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Crypto exchanges: What to consider

  • Pro: Straightforward and affordable buying and selling of BTC accessible to all experience levels.
  • Cons: If you leave your BTC in the custody of a crypto exchange, your funds are potentially at risk if issues arise with the exchange.

What's the cheapest way to buy Bitcoin in Australia?

The cheapest method for buying Bitcoin would be using a crypto exchange that has no deposit fees and low trading fees.

If you're looking for a low-cost but convenient way to buy BTC, many exchanges let you buy Bitcoin using an "instant purchase" feature via bank deposit or card and will normally charge around a 1-2% fee, plus potentially a transaction fee if using card.

But if you're looking for the absolute cheapest way to buy Bitcoin in Australia, you'll probably want to buy it using what's known as the spot market.

According to our research, Coinjar is arguably the cheapest place to buy Bitcoin in Australia because of it charges no fees on bank deposits and only 0.10% fees when buying Bitcoin via its spot market. Binance, Bitget, KuCoin and ByBit also offer 0.10% trading fees, but only Coinjar supports AUD deposits.2 CoinJar was also named the best crypto exchange for Value in the 2024 Finder Crypto Trading Platform Awards.

The spot market is the part of the exchange where you trade with other users. You'll need to deposit AUD or crypto into your account first to trade on the spot market, but this will let you buy as much Bitcoin as you like for the lowest price that someone is selling it for (a "market order").

If you like, you can also place a "limit order" where you set the price you want to pay. If the price moves low enough, your bid will automatically be accepted and your AUD swapped for BTC.

For example, say the price of 1 BTC is $100,000. You could set a limit order to buy a certain amount of Bitcoin if the price of 1 BTC hits $90,000. If it hits that price, your order is automatically processed, otherwise it stays in place until you either cancel it or it eventually reaches that price.

How to safely store your Bitcoin

Once you buy Bitcoin from a crypto exchange, the exchange normally holds the BTC in custody on your behalf until you choose to sell or withdraw it.

However, this isn't always the safest option. Cryptocurrency exchanges are at risk of hacks or financial mismanagement, which means leaving your BTC on the same platform you purchased it on could put it at risk.

It can be safer to move your Bitcoin to a self-custodial wallet, which gives you full possession and control over your tokens and protect you from the risks of keeping your crypto on an exchange.

Safe storage of cryptocurrency is important for everyone, even beginners.

5 other ways to buy Bitcoin in Australia

There are a quite a few ways to buy Bitcoin (BTC) in Australia, including crypto wallets, share trading platforms, Bitcoin ETFs, peer-to-peer transactions and even dedicated Bitcoin ATMs.

Here's a brief explainer of the other common ways you can buy and sell Bitcoin in Australia outside of crypto exchanges:

  • Stock trading platform. Some online trading platforms and brokers now also offer the ability to buy and sell Bitcoin but may lack the trading features and withdrawal options of crypto exchanges.
  • Crypto wallet. Popular software and hardware wallet providers like Ledger, Trezor and Trust Wallet now offer the ability to trade Bitcoin and other cryptos through their apps.
  • Bitcoin ETF. Spot Bitcoin ETFs are a way to get exposure to the price of Bitcoin without having to purchase or manage the Bitcoin yourself. When you buy an ETF, the company purchases and holds Bitcoin on your behalf.
  • Bitcoin ATM. Like the name suggests, Bitcoin ATMs are physical ATMs that let you purchase Bitcoin and other cryptocurrencies.
  • Peer-to-peer. There are a number of peer-to-peer platforms where you can buy and sell Bitcoin directly with other holders.

Bitcoin market update: December 2024

Bitcoin maintains its strong 2024, but the wait goes on for it to finally hit US$100,000. Bitcoin ETF options launched in the US, with billions of dollars of contracts traded on the first day.
Thomas Stelzer Thomas Stelzer is a cryptocurrency publisher at Finder.

Finder survey: How many Australians own Bitcoin and how do they invest?

Response
Yes - For long-term growth49.28%
No32.97%
Yes - For short-term growth17.03%
Yes - For day trading5.43%
Yes - To hedge against central bank currencies3.62%
Yes - Other1.09%
Source: Finder survey by Pure Profile of 1009 Australians, December 2023

How to buy Bitcoin from an online trading platform

Online share trading platforms allow you to manage various investments, such as cryptocurrency, shares and ETFs in one location.

Platforms such as eToro, CMC Markets and SelfWealth are popular options, with eToro now having quite a strong focus on crypto alongside traditional assets.

Although trading platforms and apps will give you direct exposure to the price of Bitcoin, they may not give you the actual coins to withdraw.

This is one of the major differences between cryptocurrency exchanges and online share trading platforms.

This means you may not be able to move your BTC off the platform to your personal wallet or another platform. This simplifies the experience but may be an issue for anyone who wants the full experience and security of using crypto.

PlatformSupported cryptosTrading feesRegulator registrationFinder Score
eToro107+Fees vary between 1% (cash purchases) and 2.5% (debit, credit and PayPal purchases).AUSTRAC
4.0
★★★★★
Go to site
CMC Invest8+You'll pay a 0.9% brokerage fee plus FX spread on all crypto purchases.ASICNot rated yetGo to site

Share trading platforms: What to consider

  • Pro: Can be a convenient way to buy if you already have an account.
  • Cons: Most platforms won't let you withdraw your Bitcoin to your own wallet.

How to buy Bitcoin from a decentralised exchanges

Decentralised exchanges (DEX) have grown in popularity over the last few years and now process billions of dollars in crypto transactions every day. Uniswap and Sushiswap are 2 of the leading crypto DEXs.

Decentralised exchanges: What to consider

  • Pro: You have total control over your investment, secured by an encrypted wallet rather than a third party like an exchange.
  • Con: Learning to use a wallet requires time and effort. Transactions are irreversible and your funds are at risk of human error.

How to buy Bitcoin from a crypto wallet

Cryptocurrency wallets are specialised software applications or physical devices designed for managing cryptocurrencies and keeping them highly secure.

Many of these wallets, including Ledger, Trezor and Trust Wallet offer you the ability to purchase Bitcoin and other cryptocurrencies through a third party. These apps typically accept credit or debit card payments.

Hardware wallets provide a secure and private way to hold your Bitcoin personally, rather than being entrusted to a third-party exchange or platform.

Although the Bitcoin blockchain is more secure than exchanges and has never been hacked, your security depends on you. You are responsible for managing your private key or seed phrase, which, if lost, may result in lost funds.

Crypto wallets: What to consider

  • Pro: You have total control over your investment, secured by an encrypted wallet rather than a third party like an exchange.
  • Con: Learning to use a wallet requires time and effort. Transactions are irreversible and your funds are at risk of human error.

How to buy a Bitcoin ETF

You can now invest in Bitcoin via an ETF (exchange-traded fund). An ETF is a simplified way of investing in physical assets like gold, silver and oil without needing to deal with storing the actual product itself.

Similarly, Bitcoin ETFs eliminate the need for you to learn how to safely store and manage Bitcoin yourself – which can be a complicated process for some people.

They can also be managed as part of your traditional stock or ETF portfolio, which makes managing your investments much easier.

Bitcoin ETFs: What to consider

  • Pro: Buying a Bitcoin ETF takes out the complexity out of buying Bitcoin and storing it safely.
  • Con: Owning an ETF doesn't give you access to the actual Bitcoin, so you cannot withdraw off the platform into your own wallet.
James Quinn-Kumar's headshot
Expert insight: Bitcoin as a serious investment

"Bitcoin's recent all-time high highlights the continued optimism surrounding Bitcoin and its potential for sustainable growth in both traditional and emerging markets.

Looking ahead, the crypto market remains optimistic, as Bitcoin's role in diversified portfolios continues to expand and gain further acceptance."

Community engagement director, Binance Australia

How to buy Bitcoin from a Bitcoin ATM

Buying Bitcoin using an ATM is a way to purchase the digital currency at a physical location. The process typically involves using cash or a debit card to purchase Bitcoin, which is then transferred to a digital wallet, which you must have set up before using the ATM.

It's worth noting that the fees associated are often much higher than purchasing via an online exchange and Bitcoin ATMs are only available in a limited range of locations throughout Australia. ATMs are also a clunky way to deal with inputting a Bitcoin address, which is a long string of letters and numbers.

Bitcoin ATM: What to consider

  • Pro: A way to purchase Bitcoin using physical cash or card.
  • Con: High fees mean less value for money than using an online exchange and the process may be more time-consuming.

How to buy Bitcoin from a P2P marketplace

A peer-to-peer (or P2P) crypto marketplace is a platform that allows individuals to buy and sell cryptocurrencies directly with one another through offers, a bit like eBay.

P2P marketplaces typically support a wide range of fiat currencies, including AUD.

Low or no fees are common for P2P trades. Since order prices are fixed, you can potentially find Bitcoin below market value.

Purchasing Bitcoin through P2P exchanges regularly can be challenging, as it may be hard to consistently find a seller willing to sell you the exact amount you want each time.

Here are some of our favourite P2P exchanges available in Australia

P2P marketplace: What to consider

  • Pro: Interact directly with Bitcoin sellers and choose from hundreds of payment options.
  • Con: You have to buy the specific amount of Bitcoin the buyer is selling.

What to look for when buying Bitcoin

There are a few key factors to keep in mind when looking for where to buy Bitcoin.


After you've bought Bitcoin

Once you own some BTC, you have 2 options – keep it on an exchange or move it to a personal wallet. Each comes with its own set of pros and cons.

Is Bitcoin safe to invest in?

All investments have risk associated. Before you buy Bitcoin, make sure you do due diligence in research and understand these risks:

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.
Jason Loewenthal's headshot
To make sure you get accurate and helpful information, this guide has been edited by Jason Loewenthal as part of our fact-checking process.
Thomas Stelzer's headshot
Written by

Publisher

Tom Stelzer is a publisher and writer for Finder, covering investing and cryptocurrency. He previously worked for Finder as a writer in Australia and the UK, covering things like personal finance, loans, investing, insurance as well as small business and business loans. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. See full bio

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39 Responses

    Default Gravatar
    AenyhirasfrDecember 17, 2018

    Thank you very much for sharing it’s a very useful article and hope to read more about your experience.

    Default Gravatar
    JulianOctober 15, 2018

    Hi, What exchanges were around in 2009 for Australians to buy Bitcoin?

      AvatarFinder
      JohnOctober 16, 2018Finder

      Hi Julian,

      Thank you for leaving a question.

      There were no Bitcoin Exchanges back in 2009.The first exchange was founded on 17 Mar 2010, the now-defunct BitcoinMarket.com exchange is the first one that starts operating. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    MartinDecember 19, 2017

    Hi, I have been trading the FX market for a few years and I am now looking to try Crypto Currency trading.
    Do Coinspot, BTC or Independent Reserve offer a trading platform, by this I mean a charting package so I can get in and out of long or short trades based on price movement displayed on a chart.
    I have made a mistake in the past of trading Crypto CFD’s and found the expiration of the contract a real problem, difficult if you wish to hold onto a trade.
    So, yes, I want to be able to buy/sell for either short or long term at my discretion and I would prefer some sort of charting package included in opening an account.
    Thanking you in advance.

      AvatarFinder
      HaroldDecember 20, 2017Finder

      Hi Martin,

      Thank you for your inquiry.

      Thank you for sharing this information with us. You may want to look at the forex exchanges that offer cryptocurrency. They may offer charting packages and maybe a familiar option for an FX trader. Our page has a comparison table you can use to see which platform suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to their website where you can sign up or get in touch with their representatives for further inquiries you may have.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    Missjayne69December 11, 2017

    Can I transfer from PayPal to my bitcoin wallet

      AvatarFinder
      RenchDecember 12, 2017Finder

      Hi,

      Thanks for your inquiry.

      If you’re looking for alternatives such as paying with cash, BPAY, credit card or PayPal, you might have to search more widely. You can select the payment method you want among their list of supported payment methods. Kindly note that it’s important to research a payment method and check its risk level before you start trading with it.

      Best regards,
      Rench

    Default Gravatar
    JoeNovember 19, 2017

    I have been offered to make 13,000 dollars in 24 hours by the inventors of bitcoin. Are they for real?

      AvatarFinder
      RenchNovember 19, 2017Finder

      Hi Joe,

      Thanks for reaching out to Finder.

      Bitcoin, like other crypto coins, is extremely volatile and the value of the currency remains unpredictable. News and seemingly unrelated events affect its price greatly, sometimes positively, sometimes negatively. However, if you’d like to take the plunge and invest in bitcoin, here are two ways to do that:

      – Get paid in bitcoin
      – Invest in bitcoin

      Hence, we cannot give information if this is legit or not. In the meantime, what you should do to check the legitimacy of this platform is to go through reviews, forums, or other pages online to research about them. You can also go through our checklist on how to detect a crypto scam. Please be reminded that this checklist is far from foolproof. It is still possible for a website to pass the tests and still be a scam. The important thing to remember is to do your due diligence before providing any personal or financial information to any website or app.

      Best regards,
      Rench

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