Buying bitcoin in Melbourne doesn’t need to be hard. Here at Coin Companion, we’ve done all the hard work for you. You can find our reviews of Australia’s best exchanges, as well as our favourite cryptocurrency wallets.
We’ll guide you through every step of the way, so you can buy bitcoin and other cryptocurrencies without the stress. Our helpful guides make it super simple to purchase crypto from the exchange that’s best for you, and then store it securely.
Simply choose from our favourite exchanges below, sign up and follow the steps to buy your first bitcoin.
Swyftx
Swyftx is one of Australia’s most popular crypto exchanges. It provides a one-place solution for all your crypto needs. It is beginner-friendly, and you can register yourself swiftly. It supports more than 179+ assets to buy, sell or trade.
Read our full review here
| Deposit methods: | Bank transferPOLiOskoPayID |
| Trading currencies | AUD |
| Cryptocurrencies | BTC ETH XRP BCH NEO +180 more (approx.) |
| Deposit fees: | Cryptocurrency: NoneAUD deposits under $200: AUD$2 |
| Withdrawal fees | Cryptocurrency: NoneAUD withdrawals under $200: AUD$2 |
| Trading fees | 0.6% |
| Pros | Over 100 cryptocurrencies, fast verification, low fees |
| Cons | Margin trading not available |
Independent Reserve
Independent Reserve was launched in 2013 and is one of Australia’s most trusted cryptocurrency exchanges. They have served more than 150,000 users from Australia, New Zealand and other parts of the world. Independent Reserve is registered in Australia and certified by Blockchain Australia as a ‘Digital Currency Business’. You can buy, sell or trade popular cryptocurrencies using AUD, USD or NZD.
Read our full review here
| Deposit methods: | EFT bank transfer POLi Osko/PayID SW |
| Trading currencies | AUD NZD USD |
| Cryptocurrencies | Bitcoin Ethereum XRP USDT LTC + 10 more |
| Deposit fees: | $0.99 fee for deposits under $100 Free for larger deposits $15 fee for SWIFT deposits in USD or NZD up to $5000 |
| Withdrawal fees | $0 for AUD $20 for non-AUD Crypto withdrawals vary |
| Trading fees | Fees vary 0.05% to 0.50% |
| Pros | Supports major cryptocurrencies, strong security and Australian based |
| Cons | Transaction and withdrawal fees, and commission rates may apply. |
CoinSpot
CoinSpot is Australia’s largest cryptocurrency exchange. It provides over 100+ cryptocurrencies to buy, sell or trade with AUD. This has made it one of the leading cryptocurrency exchanges in the country. Based in Australia, CoinSpot is a licensed and regulated crypto exchange.
Read our full review here
| Deposit methods: | BPAYCashPOLiPayID |
| Trading currencies | AUD |
| Cryptocurrencies | BTC ETH XRP LTC BNB +200 more (approx.) |
| Deposit fees: | POLi & PayID: NoneBPAY: 0.9%Cash: 2.5%Direct Deposit: 0%Direct bank transfer: None |
| Withdrawal fees | $0 for Australian bank accounts |
| Trading fees | Instant buy: 1%OTC: 0.1%Market order: 0.1%* (for major coins) |
| Pros | Australian owned and operated, low fees and compliant with laws. |
| Cons | Poor platform for advanced trading. Varying fees. |
Coinjar
Coinjar was one of the first exchanges to serve Australia. It accepts AUD and provides around 15 cryptocurrencies to buy, sell and trade.
Read our full review here
| Deposit methods: | Bank transferBPAYCashCryptocurrencyOskoPayIDNPP |
| Trading currencies | AUD, GBP |
| Cryptocurrencies | BTC ETH XRP LTC +9 more (approx.) |
| Deposit fees: | BPAY: No feeNPP: No feeCash: 1.5%CoinJar users: No fee |
| Withdrawal fees | Fees vary |
| Trading fees | Maker: 0.05-0.15%Taker: 0.0-0.20% |
| Pros | Supports major cryptocurrencies, low fees |
| Cons | Security issues such as lack of multi signature capabilities |
Frequently Asked Questions
Is bitcoin legal in Australia?
Yes, bitcoin is legal in Australia. It was declared legal in December 2013 by the governor of the Reserve Bank of Australia (RBA).
How do you buy bitcoin in Australia?
You can buy bitcoin in Australia from a number of local and international exchanges. You can find our guides on how to buy bitcoin here.
Do you pay tax on bitcoin in Australia?
In Australia, bitcoin and other digital currencies are viewed as an asset for capital gains tax purposes.
What is the best bitcoin wallet in Australia?
For security purposes, the best wallets are typically hardware wallets. For ease of use, software, or exchange based wallets are often the best choice. You can read more about the best bitcoin wallets here.