Top 10 Bitcoin Trading Sites in Australia
If you are new to the crypto world, then you must be wondering what the best Bitcoin trading sites are in Australia. There have been an increasing number of cryptocurrency exchanges in recent years, but which ones are the best? In Australia, there are a variety of exchanges that you could use but to help you make your choice easier, here is a guide on what we think are the top 10 Bitcoin trading sites are in Australia.
Before we begin, these trading sites are not a definitive list of all the sites, and they are chosen based on determining factors such as site performance, security, fees, support, and etc.
Must read >> our article on The Best Crypto Exchanges for Australia which we go into greater detail on which exchanges might be suitable for trading bitcoin and other cryptocurrencies, the deposit methods and our top picks for beginners and advanced traders.
Coinjar is a very well-known exchange in Australia and the reason why it is so popular is due to the fact you can purchase Bitcoin via BPAY for just a fee of 1%. People claim that Coinjar is very easy to use as it has a clean interface, therefore, making it easier for beginners. The platform has a good reputation and has been around for a long time since 2013, so the aussie locals find them to trustworthy. CoinJar supports AUD and GBP fiat currencies and supports up to 9 different cryptos.
2. Independent Reserve
Independent Reserve is another Australian Bitcoin exchange, but this is more targeted towards automated buying. You can add funds to your account with Bank transfer, PayID, POLi, SWIFT or Cryptocurrency. The pros of using this exchange are that it supports quite a range of payment methods and it supports NZD and other fiat currencies AUD and USD. Another advantage is that the fee is only 0.5% and can decline even more depending on the trading volume. The only disadvantage of this exchange is that the user interface isn’t suitable for beginners and is sometimes quite difficult to use.
Binance is one of the most popular trading sites worldwide. Residents of Australia are able to use Binance to trade Bitcoin with many other cryptocurrencies. Many people use Binance as it has a trusted reputation and many people claim they are a safe and recommend them for trading because of low fees, high trading volume & lots of cryptos. Please be aware that it can be tricky for Australians to buy Bitcoin directly on Binance so it is recommended you first buy Bitcoin from an Australian based exchange and then transfer the crypto to Binance for trading.
Changelly will allow you purchase Bitcoins; however, it will only let you buy it with digital currencies like Litecoin, Altcoins, Dogecoin, and many other digital currencies. The benefits of using this service is that it is fast and easy to buy Bitcoins with Altcoins, also the fees are reasonable for bigger traders. The only disadvantages are that you need digital currency to purchase Bitcoins.
BuyaBitcoin is an Australian Bitcoin exchange and you can use this service to purchase Bitcoin. The pros of using this service are that your coins will be delivered within an hour also the only way to verify is a mobile number to increase the security. In addition to this, the service is also easy to use and has very fast performance. However, many people have said that the fees are too high which is 4.9%.
Coinmama is a great Bitcoin trading site as it allows customers in nearly every country to purchase Bitcoin with a debit or credit card. The advantages of using Coinmama is the fact that it allows anyone to buy Bitcoin with a debit or credit card and they are seen to be reliable and a trusted broker. However, they have some of highest fees for a credit or debit card Bitcoin broker.
LocalBitcoins is a service that helps you match Bitcoin buyers and sellers, the main payment method for purchase is cash deposit. On the other hand, users will be allowed to advertise exchanges for the payment method they prefer. LocalBitcoins let the users purchase Bitcoins via an in-person meeting while it is being facilitated and secured by LocalBitcoins. The advantages of using LocalBitcoins is that it is private and in-person exchanges require no personal information. However, the disadvantages are that you have to beware of scammers and it is more difficult to purchase larger amounts of Bitcoin when compared to larger exchanges.
8. Coin Loft
Coin Loft is an Australian Bitcoin broker where you can purchase Bitcoin with credit card, cash deposit, POLi, and Flexepin. Using Coin Loft can be beneficial in various ways such as when you purchase Bitcoin with cash, your coins will be delivered within an hour. It also supports a wide range of payment methods and is the only Australian service that accepts Flexepin. On the other hand, the disadvantages are that is has a rather high fees, such as the 4% fee for cash purchases and 9% cumulative fee for credit card purchases. You will also have to verify your identity even for cash payments.
Bitit will allow you to buy Bitcoin online with a debit/credit cards or you can purchase with Cashlb vouchers or Neosurf. Bitit has many various benefits such as the fact it is available in 50 countries and it has Bitcoin gift cards available too. However, it is more expensive than other options. Bitit has slightly lower fees since the Neosurf fee is at 8% while Coinhouse has a 10% fee. On the other hand, Bitit has disadvantages too, such as needing identity verification when you are buying over a certain amount. Also, using in-person purchasing methods provide more privacy but can be confusing.
10. Mycelium Local Trader
Mycelium Local trader is similar to LocalBitcoin, it will help you find your local Bitcoin sellers. Once it has matched you with your seller, you will then meet up in-person and begin the trade. The benefit of using this service is that there are no fees, so it is cheap and easy to purchase Bitcoins with cash. It is also a private way to purchase Bitcoins as no personal information will be required.
Think we have missed one? Please let us know and we will could add it to the list.
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