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BTC.com.au Cryptocurrency Platform – 2021 review
Buy bitcoin with AUD and spend your cryptocurrency through this Australia-based platform.
- Great for spending or paying bills with crypto
- Not so great for its limited range of cryptocurrencies
See our full list of pros and cons below.
1
Fiat currencies
1
Cryptocurrencies
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Details
| Product Name | BTC.com.au Cryptocurrency Platform |
|---|---|
| Fiat Currencies | AUD |
| Cryptocurrencies | BTC |
| Deposit Methods |
Bank transfer (ACH) |
| Trading Fee | 3.5% |
| Deposit Fees |
Blueshyft: 3%
POLi: 0% |
| Withdrawal Fees | N/A |
Pros
- Makes it quick and easy to buy crypto
- Offers a range of services to make using it easier
- Has a reloadable cryptocurrency debit card
Cons
- Charges commissions of 3.5%
- Limited selection
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.
What's in this guide?
What fiat and cryptocurrencies are supported?
- Supported fiat currencies: AUD
- Supported cryptocurrencies: Bitcoin
While you can only buy bitcoin on this platform, you can load Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) Litecoin (LTC), OmiseGO
(OMG) and Ripple (XRP) onto the BTC.com.au ATM/EFTPOS card.
Which payment methods are accepted?
- Bank transfer (ACH)
- Transferring bitcoin to your Australian bank account via BTC.com.au
- Spending or cashing out BTC, ETH, BCH, LTC, OMG and XRP on your BTC.com.au debit card
- Paying your bills with bitcoin through BPAY
What's it like to use BTC.com.au?
1. Buy easily
Choose how much you want, either in AUD or BTC, and get a quick, complete quote.
2. Get crypto for cash in three simple steps
BTC.com.au explains how to get crypto for your cash in three easy steps.
3. Login to order a crypto debit card
Create an account to access additional features.
4. Learn more about the cards
Have you considered getting your hands on the crypto card?
5. Customer service
Contact the BTC.com.au customer service team from the site itself.
Fees and limits
Platform trading fees
The fees associated with your purchases, which include commission and GST, are built into the prices you are quoted at the point of sale.
| Platform Fee Type | Fee |
|---|---|
| Commission | 3.5% commission on spot price + GST |
Deposit and withdrawal fees
The fees for deposits and withdrawals may vary.
Deposit fees
| Deposit method | Fee |
|---|---|
| blueshyft (cash) | 0% |
| POLi | 0% |
Withdrawal fees
BTC.com.au does not provide a cryptocurrency wallet, so you will need to have a wallet ready to go and provide the address when purchasing cryptocurrency.
Cryptocurrency network fees may be charged at the time of purchase, but will typically be negligible. You will be informed of these at the time of your transaction.
When you choose to cash out your crypto by using it to pay bills, or sending it to a bank account, that service is administered by Living Room of Satoshi (LROS). There are no fees for using LROS. A spread is charged instead.
| Cryptocurrency network fees | Varies - usually a few cents |
|---|---|
| Bill pay | LROS spread |
| Bank transfer | LROS spread |
Transaction fees
The BTC.com.au ATM/EFTPOS card offers a wide range of services for free, even where a traditional bank card would charge fees.
| Fee type | Amount |
|---|---|
| Card issue fee | Free + free express postage |
| Funds loaded to the card | Free |
| Replacement card | Free |
| ATM withdrawal | ATM owner fee |
| Point of sale purchases | Free |
| Disputed transaction fee (per transaction) | Free |
| Monthly maintenance fee | Free |
| Monthly inactivity fee | Free |
| Manual funds transfer fee (from the card to an external account) | Free |
Limits
Platform limits
| Minimum purchase | Maximum purchase |
|---|---|
| $40 | $8,000 |
Initially, customers will have a maximum limit of $1,000, which can be increased after a couple of successful transactions. Contact the BTC.com.au customer service team to increase your limit.
Card limits
The card has its own limits. As a general rule of thumb, you can never have more than $999 on the card at any given time.
| Transaction limits | |
|---|---|
| Maximum per transaction limit | $999 |
| Maximum daily limit (incl. POS and ATM) | $999 |
| Maximum number of transactions per day (incl. POS and ATM) | 25 |
| ATM withdrawal limits | |
|---|---|
| Minimum withdrawal | $20 |
| Maximum withdrawal | $999 |
| Maximum ATM transactions per day | 10 |
| Card account limits | |
|---|---|
| Minimum load | $10 |
| Maximum load | $999 |
| Maximum loads per day | 20 |
| Maximum value on card at any one time | $999 |
How fast will my funds be available?
BTC.com.au can let you buy bitcoin and make it available to you almost instantly as soon as payment is received.
This is because the service has been automated, and as soon as your payment is received, you will automatically receive the cryptocurrency to your wallet.
- POLi payments: Almost instant (usually 60 seconds or less)
- blueshyft: Within minutes of making the cash deposit
Is BTC.com.au safe to use?
BTC.com.au is a registered Australian company (ABN 52 625 367 811) and a member of the Australian Digital Commerce Association. It provides clear contact information and customer support channels.
It also ensures you maintain control of your cryptocurrency at all times because it doesn't provide a wallet. This puts you in charge of your own security.
The card might present some risks though. It requires a PIN number, which will be provided when you order the card.
However, it's important to note that unlike typical bank cards, your card is also entirely your own responsibility and BTC.com.au does not bear any responsibility for misuse following its loss or theft. And while the card is administered by Cuscal, which is an authorised deposit-taking institution in Australia, a deposit on the card itself does not represent a deposit with Cuscal.
BTC.com.au is, by all appearances, a legitimate cryptocurrency business, and its card is a legitimate product, but you are still entirely responsible for the security of your card and crypto wallet.
How do I create an account at BTC.com.au?
To use BTC.com.au, you will need to create an account and then provide the requested information.
BTC.com.au may require different information, and the services it gives you access to may vary depending on the depth of information you have provided, and how long you have been a customer.
What else do I need to know about BTC.com.au?
BTC.com.au is a relatively recent addition to Australia's cryptocurrency scene, with the company being registered on 3 April 2018.
It describes itself as being "committed to building a platform that promotes adoption of this innovative new technology and brings real-world value to everyday Australians and businesses."
It's an Australian company, based in Sydney.
In a nutshell
Pros
- Makes it quick and easy to buy crypto
- No deposit fees
- Offers a range of services to make using it easier
- Has a reloadable cryptocurrency debit card with minimal fees
- Lets you buy bitcoin with cash
- Lets you buy bitcoin at hundreds of physical locations around Australia
Cons
- Bitcoin is the only crypto you can buy
Compare BTC.com.au against other exchanges
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.
