Swyftx Cryptocurrency Exchange
- 170+ cryptocurrencies
- Fast online ID verification & deposits
- Low fees and spreads
- Demo mode for beginner traders
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
If you want to buy cryptocurrency with Australian dollars, using a crypto exchange that accepts bank transfers can be one of the cheapest and most convenient solutions. But if you’re new to cryptocurrency, it can be tough knowing where to get started.
Read on for a list of which exchanges accept bank transfers and how you can buy crypto with your bank account.
There are three ways you can buy crypto with your bank account:
Depending on the exchange you choose, the exchange may support one, two or even all three of these payment methods.
This is our quick guide to just one way to buy with a bank transfer.
Compare some other options in the table below.
Buying crypto with your bank account is actually quite easy. To show you how to do it, let’s look at an example of how to buy bitcoin (BTC) with Australian dollars.
There are a number of platforms to choose from when purchasing crypto with your bank account, so compare your options to see how each exchange performs across a range of key areas:
Answering these questions should help you narrow down your choices and find a platform that will work for you.
If you want to store your newly acquired crypto coins on the exchange where you bought them, you can. However, this is not recommended for a couple of reasons:
With this in mind, the safest course of action is to move your digital coins into a secure wallet that allows you to retain control of your private keys. From desktop and mobile wallets to online and hardware wallets, there are plenty of options to choose from. Make sure you do your research before picking one that’s right for you.
Buying crypto with a bank account offers a safe and secure way to exchange AUD for digital currency, but only if you’re certain you’re dealing with a reputable exchange provider. With this in mind, it’s essential that you thoroughly research the credentials of any platform before transferring any funds.
You’ll need to find out the following:
Of course, if you plan on buying cryptocurrency from someone through a peer-to-peer platform, you’ll need to be certain you’re dealing with a reputable seller before transferring any funds. This is why it’s a good idea to set up the trade through a marketplace that uses some sort of reputation system and has security measures in place to protect against fraud.
From a broader point of view, you should also be fully aware of the risks associated with buying cryptocurrency before you make a purchase. Cryptocurrencies are complicated and volatile assets, so there’s a risk of losing some or all of the money you spend.
If you want to buy crypto with your bank account, the first thing you need to do is start comparing a range of cryptocurrency exchanges. Compare their features, accepted payment methods, transaction limits, fees and level of community trust to find a platform that’s right for your needs.
Yes, at the time of writing, it’s legal to buy crypto with your bank account in Australia.
Disclosure: At the time of writing, the author holds ADA, ICX, IOTA and XLM.
Coinbase is set to be one of the most anticipated public listings of 2021, but this is no normal IPO. Here's what you need to know.
Staking is one of the most popular ways to earn an income with cryptocurrency – learn how to get started with this guide.
Build both your knowledge and Bitcoin wallet with this simple guide to trading.
Robinhood is set to go public as soon as June. Here's what you need to do to buy in from Australia.
Learn more about the DOT cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the Filecoin cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the Avalanche (AVAX) cryptocurrency in this beginner’s and buyer’s guide.
After recent surges in value, Aussies are turning their attention to cryptocurrency, according to a new report by Finder, Australia’s most visited comparison site.
Everything we know about the Coinbase IPO, plus information on how to buy in.
Learn more about the AAVE cryptocurrency in this beginner’s and buyer’s guide.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.