Bitcoin Australia review
- Supported assets
- 2
- Fiat currencies
- 1
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.
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?
1. Homepage
Smart. Simple. Secure. Get started from the home page.
2. Buy Bitcoin
Check prices and buy Bitcoin through the buy screen.
3. Bitcoin services
Access a range of additional Bitcoin services through Bitcoin Australia.
4. Bitcoin Australia merchandise
Bitcoin Australia also sells merchandise.
5. Bitcoin education
Check out the Bitcoin Australia education centre.
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 method | Fee |
|---|---|
| POLi | 5% |
| PayID | 5% |
| BPAY | 5% |
| Newsagent | 7% |
| Cash | 5% |
| Flexepin Voucher | 7% |
| 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
Up to 2 hours
You should receive your Bitcoin within two hours after placing an order during business hours.
Selling
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?
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
Frequently asked questions
Andrew Finder
Editor
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.