Bitcoin.com.au review
- Regulator registration
- AUSTRAC
- Supported assets
- 30
- 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.com.au 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.com.au 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.com.au 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.com.au's fees range from 5% to 7%, plus GST, on top of the above-market rates it charges.
-
Poor rates. Bitcoin.com.au 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.com.au |
| Fiat Currencies | AUD |
| Cryptocurrencies | BTC, ETH, LINK, ADA, DOGE, SOL, DOT, LTC, SAND, MANA, XRP, DAI, USDT & 17 more |
| Deposit Methods |
Bank transfer Credit card Cryptocurrency Debit card PayID |
| Trading Fee | 1% |
| Deposit Fees |
Cryptocurrency: None (gas/network fees apply) AUD Deposits: None for over $100; $0.99 for deposits under $100 Debit or Credit card: None PayPal: None |
| Withdrawal Fees |
Bank transfer: None EFT: None PayID: $1.50 Cryptocurrency: Fees vary |
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: AUD
- Supported cryptocurrencies: Approximately 30 cryptocurrencies
Which payment methods are accepted?
- Bank transfer
- Credit card
- Cryptocurrency
- Debit card
- PayID
What's it like to use Bitcoin.com.au?
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.com.au.
4. Bitcoin.com.au merchandise
Bitcoin.com.au also sells merchandise.
5. Bitcoin education
Check out the Bitcoin.com.au education centre.
Fees and limits
The fees below are accurate as of 28 August 2019.
Platform trading fees
Bitcoin.com.au 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.com.au 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.com.au. 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.com.au safe to use?
- Regulation. Bitcoin.com.au 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.com.au verifies users through Australia's PostID system.
- Safety features. Bitcoin.com.au 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.com.au?
What else do I need to know about Bitcoin.com.au?
Bitcoin.com.au 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.com.au to be an ambassador for Bitcoin.
Compare Bitcoin.com.au against other exchanges
Frequently asked questions
Your reviews
Andrew Finder
Editor
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