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Bitcoin Australia review

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Bitcoin Australia Cryptocurrency Exchange
3.9
★★★★★
Supported assets
2
Fiat currencies
1
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.

Summary

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.

Pros

  • Simple. The simple order experience makes buying Bitcoin straightforward.
  • Non-custodial. Bitcoin Australia does not take custody of your cryptocurrency.
  • Wide range of payment methods. You have a wide range of payment options available.

Cons

  • Very high fees. Bitcoin Australia's fees range from 5% to 7%, plus GST, on top of the above-market rates it charges.
  • Poor rates. Bitcoin Australia sells Bitcoin at around 1% above mid-market rates.
  • Limited selection. You can only buy Bitcoin or Ether, and you can only sell Bitcoin.

In this guide

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  • Details
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Details

Product details

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

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: AUD
  • Supported cryptocurrencies: 2 cryptocurrencies

Which payment methods are accepted?

  • BPAY
  • Cash
  • Flexepin
  • POLi
  • PayID

What's it like to use Bitcoin Australia?

Fees and limits

The fees below are accurate as of 28 August 2019.

Platform trading fees

Bitcoin Australia charges buyers a 5% to 7% fee, plus GST, on Bitcoin purchases. At the time of writing, it also sells Bitcoin at about 1% above the current market rate.

The trading fee depends on your payment method.

Payment methodFee
POLi5%
PayID5%
BPAY5%
Newsagent7%
Cash5%
Flexepin Voucher7%
Any~1% spread
Transaction fees

Bitcoin Australia doesn't hold funds for its users. Instead, you provide your Bitcoin wallet address when buying Bitcoin.

As such, all deposit, withdrawal and transaction fees are built into the trading fees listed above.

Note that the fee table above only shows the fees charged by Bitcoin Australia. Payment providers such as banks may also charge transfer fees on their end.

How fast will my funds be available?

Buying

Clock icon for transfer speed

Up to 2 hours

You should receive your Bitcoin within two hours after placing an order during business hours.

Selling

Clock icon for transfer speed

Overnight

You will typically receive your money the next day when selling Bitcoin.

Is Bitcoin Australia safe to use?

  • Regulation. Bitcoin Australia is registered with AUSTRAC in line with its obligations as a business that buys and sells Bitcoin. It complies with AUSTRAC's AML/KYC requirements.
  • Verification process. Bitcoin Australia verifies users through Australia's PostID system.
  • Safety features. Bitcoin Australia is a non-custodial cryptocurrency broker. It does not hold your cryptocurrency or money for extended periods. Instead, you place an order and it will process it.

How do I start trading at Bitcoin Australia?

Back to top

What else do I need to know about Bitcoin Australia?

Bitcoin Australia was founded in Australia in 2015 by current CEO Rupert Hackett. Since then, it has established a presence in other countries.

Hackett says he wants Bitcoin Australia to be an ambassador for Bitcoin.

Compare Bitcoin Australia against other exchanges

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Kraken
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID, Apple Pay, Google Pay, SWIFT

7

235

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EXCLUSIVE
CoinSpot
Bank transfer, BPAY, Cash, Credit card, Cryptocurrency, Debit card, PayID

1

444

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

Capital at risk

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Exclusive
EXCLUSIVE
Swyftx
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID

3

352

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

Capital at risk

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Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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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.
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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Andrew Finder

Editor

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