Where to Buy Cryptocurrency in Australia?

There aren't many websites in Australia that offer simplicity coupled with low fees, and a variety of choices when buying cryptocurrencies, so let me save you a lot of time and effort. Out of the dozens of websites that are available, there are currently only 2 websites that are worth using (in my opinion).

Here are the pros and cons:

#1 - BTCMarkets



(Screenshot taken on the 5th of February, 2018.)

I have been using BTCMarkets for almost a year now, and I can safely say that it has earned quite a reputation with me. For beginners, this is not the easiest exchange to use, but if you're tech savvy and you can figure out the exchange quickly, then it's definitely a great trading website with some decent liquidity.

They currently offer pairs for Bitcoin, Litecoin, Ethereum, Ethereum-Classic, Ripple, and Bitcoin Cash. You have the choice of trading directly with the Australian Dollar or with Bitcoin, that's the beauty of BTCMarkets, once you've verified your account, you can deposit your AUD using BPAY (takes 1-2 business days) and begin trading pairs in AUD. No need to worry about buying/selling Bitcoin and then trading BTC for other pairs. Anyone who uses exchanges often can relate to what I'm saying. The fees are kept low, under 0.1% for any trade on all pairs. And the more you trade, the less your fees!

PROS:

Very Low Fees

AUD Pairs

Decent Liquidity (this means that the spread between the buy and sell price is smaller)

Buy instantly after money has been sent through (and account verified)

Buy and sell orders can be placed on the exchange

Free and easy withdrawals to bank account

Withdraw your coins easily

CONS:

Account verification

Only 6 coins available to trade

Difficult for total beginners

No instant deposits, BPAY deposits take 1-2 business days (roughly)

#2 - CoinSpot



CoinSpot is incredibly easy-to-use.

You could teach children to use this website, that's how simple it is. CoinSpot has a large variety of cryptocurrencies that you can purchase as well, and it's as simple as clicking one button.

Of course, you'll need to verify yourself with CoinSpot, but it's well worth the hassle.

You can deposit your AUD instantly into CoinSpot using POLi or Cash Deposit (they also have BPAY).

Verification is generally quite fast, and this was actually the first exchange I ever used to buy Ethereum when I first started getting into cryptocurrencies back in early March of 2017.

(Screenshot taken on the 5th of February, 2018.)

When you buy on CoinSpot, all of your wallets are right there on-site, you can instantly buy and sell with one-click.

The only real criticism I have for CoinSpot is that the spread is quite high when you buy coins (not sure about selling), but for all of that convenience, I can see why. You can also withdraw your cryptocurrencies out of the website whenever you like for a small fee, depending on the coin.

You can currently buy and sell the following cryptocurrencies on CoinSpot:

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, Litecoin, Stellar, Neo, EOS, NEM, IOTA, Dash, Monero, TRON, Lisk, USDT, Ethereum Classic, VeChain, Qtum, Bitcoin Gold, ICON, Nano (RaiBlocks), OmiseGo, Zcash, Steem, Bytecoin, Stratis, Verge, Siacoin, BitShares, Waves, Walton, 0x, Augur, Dogecoin, Decred, Komodo, Kyber, Ardor, Ark, GAS, Basic Attention Token, Dragonchain, Digibyte, PIVX, Byteball Bytes, Golem, Ethos, Dentcoin, Factom, Salt, FunFair, Power Ledger, Zcoin, Nxt, Reddcoin, TenX, Enigma, MaidSafeCoin, Nexus, Quantstamp, GameCredits, Raiden Network, Substratum, Po.et, Vertcoin, Civic, Monaco, Peercoin, Metal, Simple Token, Einsteinum, AdEx, Modum, LBRY Credits, Safe Exchange Coin, Horizon State, and probably more by the time you've finished reading this...

PROS:

Easy for beginners

Instant Deposits

BPAY, Cash Deposits, and POLi Payments Accepted

Easy withdrawals to bank account

Easy coin withdrawals

Good list of coins to buy and sell

Buy/Sell Instantly

Simple UI

CONS:

Higher Fees than typical exchanges

Account Verification

So there you have it, leave me a comment below and let me know what you think of these exchanges!

Disclaimer: I do not endorse the purchase of any individual cryptocurrency. This is not investment advice, do your research properly before purchasing any cryptocurrency. Some cryptocurrencies may go against religious beliefs (Such as AUGUR, Salt, and Metal). Due diligence is advised. Some cryptocurrencies may no longer be available for purchase after this article has been published, I am not held responsible for the loss of any funds due to a market crash, panic sell, or exchange/website shutdown. These are centralized exchanges, moving your coins off-site and into a cold wallet is highly advised.