To help you along the way, we also list some of the factors that you need to consider before using an online Bitcoin platform, such as fees, regulation, commissions, and payment methods.<\/p>\n
Our recommended Australia Platform for 2024<\/h2>\n
Don’t have time to read through our guide and simply want to buy Bitcoin<\/a> right now?<\/p>\n The broker listed below is our top-rated platform to invest in cryptocurrencies like Bitcoin. It takes less than 10 minutes to open an account. The process entails uploading ID, deposit funds and then buy Bitcoin.<\/p>\n\n \n Bitcoin is no longer a dirty word in Australia, with the digital currency rising to fame in recent years. Australians now have access to a vast number of options when it comes to buying Bitcoin for the first time. This includes popular Australian-based exchanges such as CoinSpot, as well as peer-to-peer options that allow you to trade directly with people in your state.<\/p>\n Australia is also home to a number of Bitcoin ATMs, which allows you to buy the digital currency with cold-hard cash. When using brokers or exchanges that are based outside of Australia, you should keep an eye out for that all-important ASIC logo.<\/p>\n This means that the platform is regulated by the same licensing body that oversees the Australian financial services industry. Not only is Australia home to several leading cryptocurrency and blockchain technology conferences throughout the year, but a number of crypto-startups are headquartered in the country. Much of this is due to a crypto-friendly regulatory framework that eases the process of doing business in Australia.<\/p>\n Although you also have the option of using a specialist cryptocurrency exchange, peer-to-peer site, or even a Bitcoin ATM – the easiest way to buy Bitcoin in Australia is to use a secure online broker.<\/p>\n Even more importantly, the process is suited to those of you that have never bought a cryptocurrency before and thus – need to use an everyday payment method. In order to get the process started, you simply need to open an account with your chosen broker, and then verify your identity.<\/p>\n This requires you to upload a copy of your Australian passport or driver’s license – and most brokers can verify this automatically. Then, you need to choose your preferred payment method. This includes Australian-backed debit and credit cards, PoliPyments, BPAY, or a local bank transfer. Finally, you then need to enter the amount of Bitcoin that you want to buy (in US dollars if the broker is headquartered overseas) and confirm the order.<\/p>\n When it comes to storing your Bitcoin, regulated brokers ensure that your funds are safe. At the forefront of this is a requirement to keep client funds in segregated tier-one bank accounts. As such, if the broker did run into financial difficulties, your funds should be safe.<\/p>\n If you’ve never used an online broker to make an investment, the process can appear daunting at first glance. This is especially the case if you have no experiences of buying or selling Bitcoin. With that in mind, below you will find our beginner’s step-by-step guide to buying Bitcoin with an online broker.<\/p>\n We’ve shown you how to do it with our top-rated platform eToro, albeit, the process remains largely the same regardless of what broker you opt for<\/p>\n AFSL 491139. High risk to capital.<\/strong><\/p>\n Your first port of call will be to head over the broker’s website to open your Bitcoin account<\/a>. You’ll be using an ASIC regulated broker, meaning the platform is required to ask you some questions about your identity. However, note that crypto trading is not regulated.<\/p>\n As such, enter the following information:<\/p>\n Regulated platforms are also required to assess your prior trading experience. This is to ensure that as a retail client, you know the risks of investing real-world money.<\/p>\n Once again, regulated brokers are required to verify your identity before they can allow you to buy Bitcoin. The process is super easy, especially when using new-age brokers like eToro.<\/p>\n This is because your ID will be validated instantly – just make sure that it’s a clear copy that the system will be able to read. To complete the process, upload your passport or driver’s license.<\/p>\n <\/p>\n You will now need to fund your newly created broker account. If using a popular platform like eToro, you’ll get to choose from heaps of everyday payment methods.<\/p>\n This includes the following:<\/p>\n Other than a bank transfer, all deposit methods are credited to your account instantly. Conversion fees are applied on deposits.<\/p>\n You are now ready to buy Bitcoin<\/a>. Much like eToro, brokers typically host thousands of financial instruments on their site – such as stocks, indices, bonds, commodities, and of course – cryptocurrencies. As such, you should enter ‘Bitcoin’ into the search box to be taken straight to the relevant page.<\/p>\n You will now need to fill out an order box. This is because you will be given a number of trading options to choose from – such as whether you want to apply leverage or the price in which you enter the maker.<\/p>\n This can intimidate newbie buyers, so be sure to read through the following points – where we explain what you need to do to complete your Bitcoin order.<\/p>\n Finally, click on ‘Buy’ to complete your Bitcoin purchase.<\/p>\n If you’re looking to research a Bitcoin broker<\/a> before parting with your money, this will ensure that the platform is right for your long-term investment goals. For example, while the broker might allow you to Buy Bitcoin with a debit card<\/a>, it won’t be worth joining if commissions and fees are high.<\/p>\n Nevertheless, be sure to assess the following metrics prior to joining an Australian Bitcoin broker.<\/p>\n Without a doubt, you’ll want to be using a Bitcoin broker that is related by the Australian Securities and Investments Commission (ASIC). Using a non-ASIC broker is asking for trouble, as you always stand the risk of running into an unscrupulous platform.<\/p>\n Once you’ve assessed the regulatory standing of your chosen Australia broker, you then need to look at what cryptocurrencies are supported. Bitcoin will also be hosted by the broker, but if you’re planning to buy and sell other cryptocurrencies too – it’s well making sure they’re supported. <\/span><\/p>\n It’s also important to explore what payment options you will be able to deposit and withdraw funds too. After all, a number of online brokers only accept cryptocurrencies as a payment method, which isn’t going to be any good if you’re buying Bitcoin for the first time. By using a platforms like eToro, you’ll get to choose from a debit\/credit card, e-wallet, or local bank transfer.<\/p>\n All online brokers will charge you a fee of some sort, otherwise, they wouldn’t be in business. The key is to find a platform that offers the perfect combination of low commissions and tight spreads. This will ensure that your trading costs are kept to an absolute minimum. You should also check to see if the broker charges a withdrawal fee.<\/p>\n Although most of you might be content with simply buying Bitcoin and holding on to your investment for a number of years, Australia is home to an active day trading marketplace.<\/p>\n You should also ensure that your chosen Bitcoin broker offers top-notch customer support. This should include live chat, telephone support, and email. Be sure to check what times the customer service team operates – especially if your chosen platform is based outside of Australia.<\/p>\n<\/div>\n<\/div><\/div>\n Although using an online broker is the safest, cheapest and most seamless way of buying Bitcoin, it’s also worth considering what other options are available to you.<\/p>\n This includes:<\/p>\n Although still relatively thin on the ground in Australia, there are now 18 Bitcoin machines located throughout the country. This is will only be suitable if there is a terminal in your local town.<\/p>\n Although Bitcoin AMTs are ideal for those of you that wish to use physical Australian dollars, you will be hit with expensive fees. In fact, this is often surplus of 10%.<\/p>\n<\/div><\/div>\nBitcoin in Australia<\/h2>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/Flag-map_of_Australia-1.svg\")
<\/a><\/p>\nWhat is the Best Way to Buy Bitcoin in Australia?<\/h2>\n
How to Buy Bitcoin in Australia: Step-by-Step Tutorial<\/h2>\n
Step 1: Open an Account<\/a><\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/06\/etoro-registration-1024x812.png\")
<\/p>\n\n
Step 2: KYC & Verification<\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/02\/etoro-2-2-1024x732.png\")
<\/p>\nStep 3: Deposit Funds<\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/etoro-fund-account-1024x593.png\")
<\/p>\n\n
Step 4: Go to Bitcoin Trading Page<\/h3>\n
Step 5: Buy Bitcoin<\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/Screenshot-2020-04-02-at-17.33.27.png\")
<\/a><\/p>\n\n
What to Look for in a Australia Bitcoin Broker<\/h2>\n
\n
Licensing<\/h3>\n<\/li>\n<\/ul>\n
\n
Supported Cryptocurrencies<\/h3>\n<\/li>\n<\/ul>\n
\n
Payment Methods<\/h3>\n<\/li>\n<\/ul>\n
\n
Trading Fees and Commissions<\/h3>\n<\/li>\n<\/ul>\n
\n
Leverage and Short-Selling<\/h3>\n<\/li>\n<\/ul>\n
\n
Customer Support<\/h3>\n<\/li>\n<\/ul>\n
Other Ways to Buy Bitcoin in Australia<\/h2>\n
Bitcoin ATMs<\/h3>\n
![\"Bitcoin](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/02\/Bitcoin-ATM1-1024x683.jpg\")
<\/p>\n\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/06\/localbitcoins-2-min.png\")
<\/p>\n