Guide : How To Buy Cryptocurrency In Australia

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Places to Buy Cryptocurrency in Australia (AUD)

So let’s assume you want to buy cryptocurrency online and you don’t want to use a cryptocurrency ATM an Over The Counter (OTC) exchange, or any kind of manual broker. You want to send Australian Dollars (AUD) to a reputable company to purchase bitcoin, ether or something else. I have personally used all the sites below and have not had any problems that were caused by the companies.

BTC Markets

BTC Markets Pty Ltd (https://www.btcmarkets.net) – based in Melbourne, Australia this company provides an exchange trading platform where you can trade bitcoin, ethereum and more with other individuals based on bid and ask prices.

Coins: BTC, LTC, ETH, ETC, XRP, BCH, OMG, POWR

Deposit: Bpay

Independent Reserve

Independent Reserve Pty Ltd (https://www.independentreserve.com) – based in Sydney Australia this company provides an exchange trading platform where you can trade bitcoin and some altcoins with other individuals based on bid and ask prices.

Coins: BTC, ETH, BCH, LTC, XRP, OMG, ZRX

Deposit: EFT

Coinspot

Coinspot (Casey Block Services Pty Ltd) (https://www.coinspot.com.au) - based in Melbourne, Australia, this company provides an online marketplace / broking service for buying and selling coins at quoted prices. You are not trading with other individuals per se, you are buying from and selling to Coinspot. The downside of this is they can run into liquidity problems, which means that if everyone wants to buy or sell at the same time they may not hold enough AUD or cryptocurrency, to cover everyone’s needs. This has happened a few times in the past and the result is they halt certain trades or put an upper limit on the value of the buy, sell, deposit or withdrawal. Having said this, they provide the longest list of coins you can buy in AUD. The list is comprehensive. Just be aware that you can deposit AUD to buy any sell any coins they list. But, if you send some of the more obscure coins out into your personal wallet, you will not be able to transfer them back into Coinspot to sell for AUD. They only allow depositing cryptocurrency for some of the more well known coins such as BTC, ETH, XRP etc. (actually they don’t do ETC, but you know what I mean 'et cetera', not 'Ethereum Classic', Lol!).

Coins: Too many to list, visit https://www.coinspot.com.au/tradecoins...

Deposit: POLi, Cash, Bpay

Bit Trade

Bit Trade Limited (https://btrade.io) – based in Sydney, Australia, this company is the longest running cryptocurrency market based in Australia. They use to operate as btradeaustralia.com, this is where I bought my second load of bitcoin in 2013 after the Mt Gox debacle. The offering they have is more of a marketplace / broking service, they aren’t a true exchange like BTC Markets or Independent Reserve. They trade in BTC and ETH only. The payment method they use is POLi.

Coins: BTC, ETH

Deposit: POLi

Coinbase

Coinbase UK, Ltd (https://www.coinbase.com/) – based in London, UK. Like most of the others in this list they provide a marketplace / broking service for several popular cryptocurrencies, namely bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin. You can only buy, you cannot sell in Australia. And they only accept credit card as the deposit method.

Coins: BTC, BCH, ETH, ETC, LTC

Deposit: Credit Card

Coinjar

CoinJar UK Limited (https://www.coinjar.com/) – based in London, UK, this company provides a marketplace / broking service for buying and selling several cryptocurrencies. They take deposits via Bpay and Cash. It does mention POLi payments in the settings, but on the basic level of access I could not find where to make a POLi payment. Here you can buy some popular coins being, BTC, ETH, XRP, LTC and ZEC.

Coins: BTC, ETH, XRP, LTC, ZEC

Deposit: Bpay

Next : Exchange Deposit Methods (BPAY, POLi, Cash)