BTC Markets review

A simple exchange for beginners and experienced cryptocurrency traders alike.

BTC Markets aims to be a simple, reliable and professional place for users to trade cryptocurrencies. If you’re a first-timer looking to get started, or a more experienced trader wanting a new cryptocurrency home, it might be what you’re looking for.

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. 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.

Exchanges like BTC Markets

What is BTC Markets and how does it work?

Despite the name, BTC Markets offers a range of different exchange markets, including various bitcoin forks and Ethereum variations, along with other altcoins.

The range of currencies might be one of its most distinctive features. You can trade bitcoin against other altcoins (such as BTC:ETH), or those same altcoins against AUD.

BTC Markets also offers a range of up-to-date information on current and historical prices, and might be a good way to pick up competitive offers in the fast-changing cryptocurrency market.

It strikes a balance between ease-of-use and features by offering:

  • Market orders. Put buy or sell orders on the exchange at market rates. The price shown is the price at which the most recent trade completed.
  • Limit orders. Put buy or sell orders on the exchange at specified minimum/maximum rates.

How to get started

Once you have considered the features and decided you want to start using BTC Markets you will need to create an account and deposit AUD or altcoins for trading.

  • Sign up by creating an account with an email address and password.
  • Verify your identity by following the prompts and providing the required information.
  • Deposit altcoin or AUD into your account. This can then be traded on the exchange.

You can transfer altcoins with any supported wallet, and can make bank transfers using POLi.

How long do transfers take?

You may be able to create an account, verify it, make a deposit and start trading all in the same day, assuming your initial deposit is under $500. Larger first deposits may take longer to verify, but here’s a quick overview:

  • AUD deposits and withdrawals: These usually take 1-2 business days for the banks to complete transfers.
  • Altcoin deposits and withdrawals: These can be done in several minutes, depending on how busy the network is.

Note that using a virtual private network (VPN) while trading on BTC Markets may slow transfer times.

In which countries is BTC Markets available?

BTC Markets is only intended to be used by Australian residents, and you will need an Australian bank account to make AUD deposits or withdrawals.

Are POLi deposits available?

At the start of 2018 POLi deposits became unavailable on BTC Markets following issues with banks unexpectedly reversing transactions.

"We have suspended POLi deposits for now and are investigating other payment options." BTC Markets said on Twitter on 6 January 2018.

If you are considering buying, you should check the latest situation with regard to POLI deposits.

What are the fees?

There may be fees for deposits, withdrawals and trading.

Deposit fees
BitcoinFree
LitecoinFree
EthereumFree
RippleFree
BcashFree
BPAYFree
POLi$3.30 (inc. GST)
Withdrawal fees
Bitcoin0.0005 BTC
Litecoin0.01 LTC
Ethereum0.001 ETH
Ethereum Classic0.001 ETC
DAO Tokens1 DAO
Ripple0.15 XRP
Bcash0.001 BCH
Australian bank transferFree
Trading fees

The trading fees depend on your AUD trade volume over the previous 30 days.

Trading Fee %30 Day AUD Volume
0.85%$0.01 - $500
0.83%$500.01 - $1,000
0.80%$1,000.01 - $3,000
0.75%$3,000.01 - $9,000
0.70%$9,000.01 - $18,000
0.65%$18,000.01 - $40,000
0.60%$40,000.01 - $60,000
0.55%$60,000.01 - $70,000
0.50%$70,000.01 - $80,000
0.45%$80,000.01 - $90,000
0.40%$90,000.01 - $115,000
0.35%$115,000.01 - $125,000
0.30%$125,000.01 - $200,000
0.25%$200,000.01 - $400,000
0.23%$400,000.01 - $650,000
0.20%$650,000.01 - $850,000
0.18%$850,000.01 - $1,000,000
0.15%$1,000,000.01 - $3,000,000
0.13%$3,000,000.01 - $5,000,000
0.10%> $5,000,000

Safety, security and privacy

BTC Markets uses an offline “cold” wallet of its own to store deposits in multiple secure locations. It maintains there’s relatively little risk of losing currency on its end.

It also follows all current best security practices and in addition runs regular reconciliations of all funds it’s holding. It does this twice daily for cryptocurrencies, and every hour for AUD. This ensures it always has a full reserve available to process trades.

Although BTC Markets is not yet officially regulated by AUSTRAC, it’s dedicated to operating in line with its guidelines. It also recommends that you use two-factor authentication for more security on your end.

Customer service and contact

The BTC Markets support team operates Monday to Friday, 8am to 8pm, with slightly reduced hours on weekends. It takes messages through the BTC Markets platform.

If needed, you can also get in touch through social media.

Pros and cons of BTC Markets

Pros

  • A simple and effective exchange
  • Offers a range of popular currency pairs for trading
  • Might be a simple way for beginners to start buying cryptocurrency without paying extra for brokerage services
  • Offers a public API programming tool to help automate trades

Cons

  • Trading fees may not be competitive at low trading volumes

How to begin

If you have considered the features of BTC Markets and decided to start trading, simply create and verify an account, and make a deposit.

But before you do, you probably want to double check that BTC Markets supports POLi payments from your bank.

btc market

Frequently asked questions

Compare other cryptocurrency exchanges available in Australia

Name Product Payment Methods Available Fiat Currencies Available Cryptocurrencies
Cash, BPAY, POLi, Cryptocurrency
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG & over 45+ more
CoinSpot is an Australian marketplace that allows you to easily buy, sell or exchange multiple cryptocurrencies using AUD.
Credit card, Debit card
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC, BCH, ETH, LTC
Buy and sell bitcoin, Ethereum, Litecoin and Bitcoin Cash on one of the world's most renowned cryptocurrency exchanges.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade 60+ cryptocurrency pairs on this up-and-coming exchange based in China. Multi-language support.
Electronic Funds Transfer, SWIFT, POLi*, Cryptocurrency *Currently unavailable
AUD, NZD, USD
BTC, BCH, ETH
Trade AUD and other fiat currencies against BTC, BCH or ETH at competitive rates.
Credit card, Debit card, Neteller, PayPal, Skrill, WebMoney, Yandex Money
USD
BTC, BCH, DASH, ETC, ETH, LTC, XRP
Losses can exceed deposits.
Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Credit card, Debit card, SWIFT, SEPA, Cryptocurrency
USD, EUR, RUB, GBP
BTC, DASH, ETH, XRP, ZEC
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Credit card, Debit card, Neosurf, Cashlib, Trustpay, ePay
EUR, USD, GBP, CNY, SEK, NOK, DKK
BTC, ETH
Buy bitcoin with cash or credit card and get express delivery in as little as 10 minutes.
MoneyGram, Perfect Money, Western Union, Cryptocurrency, OKPAY
USD, EUR, RUB
BTC, ETH, LTC
Buy and sell crypto and other digital currencies on this global fixed-rate exchange.
Cash, Electronic Funds Transfer, POLi
AUD
BTC, BCH, ETH, ETC, LTC, DASH, XMR, XRP, ANT, REP, BNT, BAT, BTS, BLK, CVC, CLAM, DCR, DGB, DGD, DOGE & 35+ more
Buy a variety of cryptocurrencies through an Australian exchange platform through POLi, Cash or Electronic Funds Transfer.
Credit card, Debit card, BPAY, POLi, Neteller, PayPal, UnionPay, Bank Wire
AUD, EUR, CAD, CHF, GBP, JPY, NZD, SGD, USD, HKD
BTC, BCH, ETH, LTC, DASH, XRP
Losses can exceed deposits.
As a forex and CFD trading platform based in Australia, Pepperstone gives local and international users access to trade cryptocurrency against USD.
Credit card, Debit card, Electronic Funds Transfer, Neteller, SOFORT, Skrill, iDeal, WeChatPay, Giropay, China Union Pay & more
USD
BTC
Losses can exceed deposits.
This online trading platform based in Poland, Cyprus and Australia offers several deposit methods for international users.
Credit card, Debit card, OKPAY, PayPal, Skrill, SOFORT
EUR, USD, CHF, GBP
BTC
Buy bitcoin through PayPal on one of the oldest virtual currency exchanges in the business.
Cryptocurrency
-
BTC, BTG, DASH, ZET, XVP, XPM, WDC, VTC, VRC, UNO, TROLL, START, SLR, SLG, RDD, QTUM, PPC, POT, OK, NVC, NMC, NLG, NEOS & 25+ more
Trade cryptocurrency to cryptocurrency through this globally accessible exchange based in Brazil.
Credit card, Debit card, Bank Transfer *GBP bank transfers halted
GBP, EUR
BTC
Buy and sell bitcoin in GBP or EUR with credit card, debit card and bank transfer payment options.
Cryptocurrency, Payeer, Perfect Money, Qiwi
USD, EUR, RUB
BTC, BCH, ETH, LSK, LTC, XMR, XEM, DASH, BCC, DBIX, CLOAK, EMC, NEO, TIME, SHIFT, STRAT, DOGE, DTR, DGB, VOX, ESC, MONA & 140+ more
Trade at an exchange that has an extensive offering over 160 coins and numerous fiat and altcoin currency pairs.
Credit card, Debit card
USD, EUR, RUB
BTC, BTG, BURST, BYC, CANN, CFI, CLAM, CLOAK, CLUB, COVAL, CPC, CRB, CRW, CURE, CVC, DASH, DCR, DCT, DGB, DMD, DNT, DOGE, DOPE & 140+ more
Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
Credit card, Debit card, Cryptocurrency, Perfect Money, SEPA, Wire Transfer, Payza, CryptoCapital, Money Polo, Payeer, Giropay, Yandex Money & more
USD, EUR, RUB, PLN, UAH
BTC, BCH, ETH, ETC, XRP, KICK, DASH, WAVES, ZEC, XMR, LTC, DOGE, USDT
A UK-based cryptocurrency platform that provides buyers with a wide variety of payment options.
Cryptocurrency
BTC, BCH, ADA, DASH, ETH, ETC, LTC, XMR, XRP, XLM, ZEC
Losses can exceed deposits.
Trade cryptocurrency derivatives with high liquidity for bitcoin spot and futures, and up to 100% leverage on margin trading.
Credit card, Debit card, MoneyGram, Cryptocurrency, Perfect Money, WebMoney, Yandex, Payeer, Capitalist
USD, RUB
BTC, BTG, DASH, ETH, LTC, DOGE, WAVES, LSK, BCC, TRX, NANOX, PAC, ZEC, XVG, EOS, ETC, RDD, TOKC, B2X, TTC & 400+ more
Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Cash, Credit card, Debit card
USD, EUR
BTC, ETH
Use USD/EUR to buy bitcoin and Ether with credit card or cash on the Coinmama cryptocurrency exchange.
Cash, Credit card, Cryptocurrency, Debit card, BPAY, Flexepin, Neosurf, Neteller, M-PESA, PayPal, Perfect Money, WebMoney, Western Union, iDEAL, SEPA, Skrill, SWIFT
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC
Trade fiat currency for bitcoin in person or online with this peer-to-peer exchange offering competitive fees and wide delivery options.
Bank account, Credit card, Debit card, eCheck, PayPal
USD
BTC
Buy bitcoin instantly with credit card, PayPal or bank account on this peer-to-peer lending platform.
Cryptocurrency
-
BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT & 500+ more
Buy and sell hundreds of cryptocurrencies with minimal verification on this all-in-one, New Zealand-based exchange.
Credit card, Debit card
USD, EUR
BTC, BCH, BTG, ETH, ETC, DASH, DOGE, NEO, OMG, PIVX, SALT, STEEM, USDT, XLM & 50+ more
Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
OKPay, PerfectMoney, Yandex Money, Payeer, QIWI, Cryptocurrency
USD, EUR, RUB
BTC, XRB, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX, DSR, XCPO, LTC, VERI, LOC, NUA, PKT, PPT, ICO & 80+ more
Supporting over 100 coins, you can exchange a variety of cryptocurrency pairs on this peer-to-peer platform.
Cash, Credit card, Cryptocurrency, Debit card, Flexepin, Neosurf, Neteller, M-PESA, PayPal, Perfect Money, WebMoney, Western Union, iDEAL, SEPA, Skrill, SWIFT
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC
Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
Cryptocurrency
-
BTC, BCH, KCS, DRGN, DBC, XRB, ETH, PRL, LTC, SNOV, DENT, RPX, QLC, NEO, UTK, BNTY, ACT, POE, UKG, LA, LEND, VEN & 50+ more
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
ACH Bank Transfer, Wire Transfer, SEPA * payment methods vary depending on fiat currency
USD, EUR, GBP
BTC, BCH, ETH, LTC
Buy and sell cryptocurrency at this US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
Bank transfer, BPAY, POLi
AUD
BTC, BCH, ETH, ETC, LTC, XRP
Browse the various coin offerings of this Australian based exchange, where coins can be purchased through AUD, LTC and BTC currencies.
Cash, POLi, Flexepin
AUD
BTC, ETH
Buy cryptocurrency from an Australian service through cash, POLi or Flexepin vouchers.
Credit card, Debit card, POLi, Cryptocurrency
AUD
BTC
Buy and sell on a platform based in Australia which sources bitcoin from all around the world.
POLi
AUD
BTC
Buy and sell bitcoin in AUD through POLi when using this exchange based in Australia.
Cash
AUD
BTC
An Australian bitcoin broker which offers quick and simple trading where no signup is required.
Credit card, Debit card, SEPA, SOFORT, SWIFT, Skrill, Dotpay, Unionpay
AUD, USD, EUR, SEK, HUF, JPY, GBP, NOK, HRK, CAD, CNY, CHF, CZK, RSD, TRY, BRL, DKK, PLN, RUB, ARS
BTC
Offering payment options such as credit card, SEPA and SWIFT, you can purchase bitcoin from this European-based exchange with an array of fiat currencies.
Cryptocurrency
-
BTC, ETH, XRP, DOGE, XLM, ETC, STRAT, LTC, SC, DGB, BCH, LSK, XMR & 50 more
Trade various coins through a global crypto to crypto exchange based in the US.
Cryptocurrency
-
BTC, ETH, XVG, SC, XRP, DOGE, STRAT, XMR, ADA, OMG, ETC, BCC, XLM, DGB, UKG, QTUM, ZCL, RDD, LTC, NEO & 120+ more
New account registration is currently halted on Bittrex due to a surge in demand.

Compare up to 4 providers

Was this content helpful to you? No  Yes

Related Posts

Latest crypto guides

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

6 Responses

  1. Default Gravatar
    MargaretDecember 18, 2017

    Want to buy bitcoin don’t know how to go about it not good with a computer would like to discuss this with a experience and knowledge on how to trade thank you Margaret

    • Staff
      JoanneDecember 19, 2017Staff

      Hi Margaret,

      Thanks for reaching out.

      This page will outline what you need to know about bitcoins. The page will discuss Bitcoin’s history, how it works, where you can use it among others.

      Reading through the guide will not only save you a few headaches in the long run, but it will give you a greater appreciation of what’s going on behind the scenes.

      Cheers,
      Joanne

    • Default Gravatar
      manoDecember 22, 2017

      BTC market take too long to transfer Coins to Wallets . Im really not happy with it and hope to move out to other exchange ASAP.

      Regards,

    • Staff
      HaroldDecember 22, 2017Staff

      Hi Mano,

      Thank you for your inquiry.

      Should you need to review other options for bitcoin exchange you may want to check and evaluate the options on this page.

      I hope this information has helped.

      Cheers,
      Harold

    • Default Gravatar
      MaheshJanuary 1, 2018

      Its really very confusing to choose the correct platform to start buying crypto currency. Every, exchange has some or the other negative feedback. Can you please suggest the most authentic and has lowest fees. Also, it provides security to the coins in an individual account from theft.

    • Staff
      MayJanuary 2, 2018Staff

      Hi Mahesh,

      Thanks for reaching out.

      Indeed it would need a lot of research and comparison when it comes to choosing the exchange platform before you invest/buy cryptocurrency especially that there’s no single guide that covers all you need to know about all cryptocurrencies. Nevertheless, if you are looking for an exchange platform, you may like to visit this page to compare your options. The fees for the crypto transaction also differ from one exchange to another so you might need to visit the official site of the platform to get more details about the fees. You’ll be redirected to the official site by clicking on the ‘Go to site’ button.

      Also, if you’d like to have a start-up guide about cryptocurrency, you might find this article helpful. There’s also a section on that article that talks about security under “Stay Safe”.

      Hope this helps.

      Cheers,
      May

Ask a question
Go to site