How to buy Bitcoin in Australia

What is Bitcoin?

Bitcoin is the first cryptocurrency, launched in 2009. Its supply is capped at 21 million coins, and you can buy a fraction of one: the smallest unit is a satoshi, one hundred-millionth of a bitcoin.

Live Bitcoin price and chart ↗

Six steps.

1. Pick an exchange

   Every exchange we review lists Bitcoin, so you can choose on fees, safety and ease of use. Compare fees with the fee calculator or see the best exchanges in Australia.

2. Verify your identity

   Exchanges registered with AUSTRAC must check your ID before you can trade. Have your driver licence or passport ready.

3. Deposit Australian dollars

   PayID and bank transfer are usually free. Card payments often cost extra.

4. Buy Bitcoin

   Use the exchange’s order book (sometimes called Markets or Pro) where you can: it usually costs far less than the instant-buy button, which can add a spread. Search BTC and enter the amount in dollars.

5. Decide where to keep it

   Withdraw on the Bitcoin network. Bitcoin addresses usually start with bc1, 1 or 3. Some exchanges also offer wrapped bitcoin on other networks; only pick another network if your wallet expects it. For larger amounts, consider a hardware wallet: see wallet security.

6. Keep records for tax

   Selling, swapping or spending crypto can create a capital gain. Note the date and dollar value of every trade. Estimate the tax.

What it costs on each exchange.

Published trading fee for one A$1,000 purchase, cheapest first. The same rates apply to Bitcoin as to other coins on most exchanges, but order books only cover the pairs they list. Check that BTC is available on the route you choose.

1. 1Binance spot, regular user0.1% · ReviewA$1.00Visit Binance ↗Official site
2. 2Bybit spot, non-VIP0.1% · ReviewA$1.00Visit Bybit ↗Official site
3. 3CoinJar Exchange entry tier0.1% · ReviewA$1.00Visit CoinJar ↗Official site
4. 4CoinSpot Markets0.1% · ReviewA$1.00Visit CoinSpot ↗Affiliate link
5. 5KuCoin spot, Level 00.1% · ReviewA$1.00Visit KuCoin ↗Official site
6. 6OKX global taker, regular0.1% · ReviewA$1.00Visit OKX ↗Affiliate link
7. 7Crypto.com Exchange taker, level 10.5% · ReviewA$5.00Visit Crypto.com ↗Affiliate link
8. 8Digital Surge standard0.5% · ReviewA$5.00Visit Digital Surge ↗Affiliate link
9. 9Independent Reserve entry tier0.5% · ReviewA$5.00Visit Independent Reserve ↗Official site
10. 10Swyftx standard0.6% · ReviewA$6.00Visit Swyftx ↗Affiliate link
11. 11BTC Markets entry tier0.85% · ReviewA$8.50Visit BTC Markets ↗Official site
12. 12CoinJar app1% · ReviewA$10.00Visit CoinJar ↗Official site
13. 13CoinSpot Instant1% · ReviewA$10.00Visit CoinSpot ↗Affiliate link
14. 14Kraken Instant1% · ReviewA$10.00Visit Kraken ↗Affiliate link

Try a different amount in the fee calculator ↗

Other buying guides.