How to Buy Bitcoin in Australia in 2023 – Safest & Easiest Methods

Bitcoin is increasingly becoming popular with Australians that seek higher returns than the stock market currently offers.

This beginner’s guide explains how to buy Bitcoin in Australia with an ASIC-regulated broker. We also discuss some of the benefits and drawbacks of buying Bitcoin, as well as some background information on how this trading scene works.

Quick Guide on How to Buy Bitcoin Australia in 5 Minutes 

To skip our comprehensive guide and get straight into it – investors can buy Bitcoin in Australia right now by following the steps below:

  • ✅ Step 1 – Open a Bitcoin Account With an FCA-Regulated Broker Like eToro: We found that eToro is the best place to buy Bitcoin in Australia for its ASIC-regulated status, low fees, and user-friendly platform. Get started by visiting the eToro website and opening an account.
  • 💳 Step 2 – Deposit Funds: Australian clients can deposit funds with a debit card, PayPal, bank transfer, POLi, and more. The minimum deposit is just $50.
  • 🔎 Step 3 – Search for ‘BTC’: Next, search for ‘BTC’ and click on the ‘Trade’ button.
  • 🛒 Step 4 – Buy BTC: An order form will now appear, so type in the investment amount. eToro enables Australian clients to buy Bitcoin from just $10 upwards. Click on ‘Open Trade’ to confirm the order.

eToro will execute the trade instantly, so the Bitcoin tokens will now appear in the user’s portfolio. Beginners that need more guidance will find our in-depth tutorial on how to invest in Bitcoin in Australia further down.

Where to Buy Bitcoin in Australia – Reviews of the Best Bitcoin Brokers and Exchanges 

Australian investors have many options when it comes to buying Bitcoin online. It is important to assess the reputation of a Bitcoin broker or exchange before proceeding, as well as what fees are charged.

We have reviewed the best places to invest in Bitcoin in terms of safety, fees, payments, and more. Read to discover where to buy Bitcoin in Australia in 2023.

1. eToro – Best Place to Buy Bitcoin in Australia

eToro is an ASIC-regulated broker that not only enables investors to buy Bitcoin in Australia but plenty of other cryptocurrencies. This includes the likes of Dogecoin, XRP, Ethereum, Litecoin, and more than 70 others. eToro also supports commission-free stocks and ETFs, and tradable CFDs on forex, indices, and commodities.

The account opening process takes just minutes at eToro and the minimum deposit is an affordable $50. Deposits can be made instantly with POLi, debit/credit cards, and e-wallets like Skrill, Neteller, and PayPal. Payment fees are very competitive at eToro, with the broker charging just 0.5%.

Daily Movers eToro Crypto

There are no concerns with safety when buying Bitcoin with eToro. It’s one of the few crypto brokers that’s authorized and regulated by ASIC, which makes it the safest option in Australia.

eToro has a great reputation globally, with more than 30 million people using the platform to trade. When it comes to trading fees, eToro charges a flat commission of 1% plus the market spread on crypto purchases.

There are no hidden fees, so investors know exactly what they are paying. We also like that eToro promotes fractional ownership, with Bitcoin and other cryptocurrencies available from just $10. When exploring where to invest in Bitcoin in Australia, another consideration to make is storage. In this regard, eToro offers one of the best crypto wallets in Australia.

Australian investors have two options when it comes to keeping their Bitcoin tokens safe. First, the tokens can be held in the eToro web wallet for convenience. This makes it super-easy to sell Bitcoin back to dollars. Second, there is also an eToro mobile wallet app. This gives investors more control, such as being able to transfer Bitcoin to another location.

Crypto Prices on eToro

Another reason to consider eToro is that it offers diversified smart portfolios. Investors can gain exposure to a broad selection of cryptocurrencies through a single trade. The smart portfolio is rebalanced and maintained by eToro, so beginners won’t need to research the crypto markets themselves. A minimum investment of $500 is required when opting for a smart portfolio.

Copy trading is another popular feature at eToro. This enables investors to ‘copy’ an experienced crypto trader. For instance, if the trader buys Bitcoin and Dogecoin, the same position will be mirrored in the investor’s account. A minimum investment of $200 is required when opting for the copy trading service and no additional fees apply.

Trading Platform Debit/Credit Card Fee Fee to Buy Bitcoin Number of Other Cryptocurrencies
eToro 0.5% 1% commission plus the market spread 70+

Pros pros

  • The overall best place to buy Bitcoin in Australia
  • Regulated by ASIC, FINRA, CySEC, and the FCA
  • Minimum deposit of just $50
  • Buy Bitcoin instantly with POLi, debit/credit cards, and e-wallets
  • Free and secure crypto wallet for storing Bitcoin safely
  • Invest in a basket of crypto assets via managed smart portfolios

Cons cons

  • User-friendly charting tools may be too basic for experienced traders

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

2. – Fee-Free AUD Deposits via BPAY and Low Trading Commissions is a popular online exchange that supports 250+ cryptocurrencies. In addition to Bitcoin, this covers everything from Shiba Inu, Dogecoin, and Cardano to Polkadot and Ethereum. is particularly popular with investors that like to trade on a smartphone.

This is because offers a user-friendly app for both Android and iOS. Australian clients can open a account in under five minutes and AUD deposits are accepted. No fees are charged when depositing funds via BPAY or the New Payment Platform (NPP). For an even faster payment experience, also supports Australian debit/credit cards. Buy Crypto

But do note that this attracts a deposit fee of 2.99%. When it comes to trading commissions, remains one of the cheapest places to buy Bitcoin in Australia. Put simply, buy and sell orders attract a commission of just 0.075%. offers a wealth of innovative features that will appeal to investors seeking passive income.

This includes savings accounts that pay a yield on crypto deposits. Savings accounts are available via flexible and fixed terms. also enables investors to deposit Bitcoin and receive 50% of the value through a loan structure. Finally, also offers an NFT marketplace and a decentralized wallet app.

Trading Platform Debit/Credit Card Fee Fee to Buy Bitcoin Number of Other Cryptocurrencies 2.99% BPAY and NPP payments are processed fee-free. Trading commission of 0.075%. 250+

Pros pros

  • Deposit AUD via BPAY and NPP without paying any fees
  • User-friendly trading app for iOS and Android
  • Low trading commission of 0.075%
  • Supports more than 250 cryptocurrencies in addition to Bitcoin

Cons cons

  • Debit/credit card fees amount to 2.99%

3. Binance – Buy Bitcoin With AUD on a 0% Commission Basis

Binance is a low-cost crypto exchange with more than 100 million registered users. Australians have access to hundreds of cryptocurrencies here, including pairs that are dominated in AUD. When trading BTC/AUD, there are no commissions to pay. Other pairs are competitively priced at just 0.1% per slide.

We found that Binance accounts take just minutes to open and the KYC (know-your-customer) process can be completed near-instantly. Australians can then deposit funds fee-free with PayID. Debit/credit cards are also supported, but this will cost 1.8% in fees. Nonetheless, the minimum debit/credit card purchase is reasonable at just $25.

Binance Crypto Exchange

Binance has created an exchange platform that is suitable for both beginners and experienced traders alike. First-time investors will appreciate the simple layout when buying Bitcoin with AUD. And experienced traders will find advanced charting tools inclusive of technical indicators. Finally, Binance offers a web and mobile wallet for storing Bitcoin safely.

Trading Platform Debit/Credit Card Fee Fee to Buy Bitcoin Number of Other Cryptocurrencies
Binance 1.8% 0% commission on BTC/AUD trading. Other pairs cost 0.1% per slide. No fees are charged on PayID deposits. 350+

Pros pros

  • No commissions are charged when trading BTC/AUD
  • Minimum debit/credit card payment of just $25
  • Fee-free PayID deposits
  • 350+ cryptocurrencies supported

Cons cons

  • Not regulated by ASIC

4. Coinbase – Established Bitcoin Broker Aimed at Beginners 

Coinbase was launched in 2012 and remains one of the largest Bitcoin brokers globally. The platform supports more than 250 cryptocurrencies, so will appeal to investors that wish to diversify.

When buying and selling cryptocurrency at Coinbase, there is a standard commission of 1.49% to pay. There are no fees to pay when depositing funds via PayID.

Coinbase Crypto Exchange

However, debit/credit card payments cost 3.99%. This does at the very least include the trading commission. Coinbase accounts are protected by two-factor authentication and IP address whitelisting.

This is in addition to 98% of client funds being held offline in cold wallets. Coinbase offers a custodial web and mobile app for safely storing Bitcoin. The platform also offers a non-custodial wallet, so investors can take control of their private keys.

Trading Platform Debit/Credit Card Fee Fee to Buy Bitcoin Number of Other Cryptocurrencies
Coinbase 3.99% 1.49% trading commission (included in the debit/credit fee). No fees when depositing funds via PayID. 250+

Pros pros

  • Established in 2012
  • More than 250+ coins supported
  • Accepts debit/credit cards and PayID
  • Top security features

Cons cons

  • Difficult to reach customer support in a satisfactory timeframe
  • 3.99% fee to buy Bitcoin in Australia with a debit/credit card
  • High trading commissions

5. Bitstamp – 0% Commission When Trading Less Than $1,000 per Month

Bitstamp is also an established Bitcoin exchange, with the platform first launching in 2011. Investors have access to more than 80 cryptocurrencies at Bitstamp in addition to competitive fees.

For instance, there are no commissions to pay when buying and selling crypto if the monthly trading volume is below $1,000. This means that Bitstamp is one of the best places to buy Bitcoin in Australia in small amounts.


With that said, monthly trading volumes of above $1,000 and below $10,000 will attract a commission of 0.40%. To pay for the Bitcoin purchase, Bitstamp accepts debit/credit cards and international bank wires.

Opting for a debit/credit card is instant but will cost 4% in fees. Wire transfers are charged 0.05%. In terms of customer support, Bitstamp offers a live chat feature 24/7. We also like that Bitstamp has institutional-grade security to keep customer funds safe.

Trading Platform Debit/Credit Card Fee Fee to Buy Bitcoin Number of Other Cryptocurrencies
Bitstamp 4% No commissions are charged on monthly trading volumes of $1,000 or less 80+

Pros pros

  • Founded in 2011
  • No commissions when buying less than $1,000 worth of Bitcoin each month
  • Institutional-grade security features

Cons cons

  • Debit/credit card payments cost 4%
  • Does not support BPAY or any other local payment methods

6. Kraken – Buy Bitcoin and 185+ Other Cryptocurrencies at a Commission of 0.26%  

Another option to consider is Kraken – a popular crypto exchange that has been operational for more than a decade. Kraken offers access to more than 185+ cryptocurrencies, including Bitcoin.

Australians can deposit funds via PayID without paying any fees. Debit/credit card payments are also accepted but fees are not displayed until completing the purchase.

Kraken Crypto Exchange

Kraken charges a standard trading commission of 0.26% per slide. This can be reduced by trading larger volumes. Kraken also offers leveraged crypto products. This enables traders to buy Bitcoin with leverage of up to 1:5.

However, as per ASIC regulations, Australians are capped at 1:2. One of the main drawbacks of Kraken is that it does not offer a proprietary wallet. Finally, Kraken offers live chat support on a 24/7/365 basis.

Trading Platform Debit/Credit Card Fee Fee to Buy Bitcoin Number of Other Cryptocurrencies
Kraken Displayed at the time of making a purchase Commission of up to 0.26%. No fees when depositing via PayID 185+

Pros pros

  • No fees when depositing funds with PayID
  • Established in 2011
  • Supports more than 185+ cryptocurrencies

Cons cons

  • Debit/credit card fees are not displayed until completing the order
  • Does not support BPAY
  • No proprietary wallet

What to Know When Buying Bitcoin in Australia as a Beginner 

Bitcoin is a digital asset that was first launched in 2009. Since then, Bitcoin has generated unprecedented gains. Buying Bitcoin in Australia is a simple process that rarely takes more than 10 minutes from start to finish.

It’s just a case of finding a suitable broker, depositing some funds, and completing the purchase. We mentioned earlier that eToro is the best place to buy Bitcoin in Australia, considering its low fees and ASIC regulation.

Nonetheless, after buying Bitcoin, the value of the investment will rise and fall. This is based on demand and supply just like stocks and index funds. The objective is to sell Bitcoin at a later date for a higher price.

  • For example, let’s suppose that a first-time investor buys $2,000 worth of Bitcoin.
  • The investment was made when Bitcoin was trading at $20,000/BTC
  • The investor keeps their Bitcoin tokens in a private wallet for six months
  • The value of Bitcoin is now $30,000 BTC – an increase of 50% from when the original investment was made
  • The investor sells Bitcoin back to AUD and cashes out $3,000 – which is a gain of $1,000

As per the above, the fundamentals of a Bitcoin investment are similar to other asset classes. While some people trade crypto on a short-term basis, the best way to buy Bitcoin as a beginner is through a long-term strategy.

By holding for several years, there is less of a need to actively check the markets. In other words, long-term investors can ride out shorter-term volatility.

What is Bitcoin? 

First-time investors should spend some time understanding the basics of Bitcoin before proceeding.

In a nutshell, Bitcoin is a crypto asset that operates on the blockchain. The blockchain is a transparent public ledger that records and displays all transactions that occur on the Bitcoin network.

The total supply of Bitcoin is 21 million tokens. This means that Bitcoin is a finite asset, which is why many believe it makes a great case as a global store of value. As a digital asset, Bitcoin does not exist in a physical form. Instead, transactions are processed on the blockchain digitally, on a wallet-to-wallet basis.

Bitcoin Website

Bitcoin has real-world value like any other tradable product. Its value is based on what the markets are prepared to pay, based on demand and supply. To offer some insight, Bitcoin was valued at just $1,000 in early 2017. Bitcoin has since reached heights of over $68,000. Although Bitcoin is volatile, it has remained on a long-term upward trajectory for more than a decade.

Many investors are attracted to Bitcoin for its decentralized framework. Unlike Australian dollars, British pounds, or euros – Bitcoin is not backed by a central bank. Nor is it controlled by any government or nation state. This means that investors own and control their Bitcoin and no third party is required when storing or transferring the tokens.

The Basics of How Bitcoin Works 

One of the most important parts of learning how to buy Bitcoin in Australia is understanding how the underlying technology works. This will enable investors to enter the world of Bitcoin with their eyes wide open.

The primary characteristics of Bitcoin are explained in the sections below:


We briefly mentioned above that Bitcoin is a decentralized system. This means that no intermediaries are required when sending and receiving funds. This is in contrast to sending Australian dollars electronically, which needs to go through a bank.

The bank can, at its discretion, decide to block the transfer. This isn’t the case with Bitcoin, as transactions are processed in a decentralized way.

No single person or authority can make changes to the Bitcoin network either. Moreover, when storing Bitcoin in a non-custodial wallet, nobody can access the funds other than the rightful owner. This is because the wallet is protected by a private key.

Private Keys  

Private keys represent a long, complex password that is unique to a Bitcoin wallet. The private key enables the investor to access the wallet and subsequently transfer Bitcoin to another location.

This is similar to an online bank account password or an ATM PIN. As such, private keys should never be shared with another person.

The main drawback with private keys is that if they are lost or stolen, then the Bitcoin tokens will likely be compromised. This is why the eToro custodial wallet is a great option for beginners, as storage is taken care of on behalf of investors.

Public Address  

All Bitcoin transactions are sent on a wallet-to-wallet basis. This is similar to sending AUD from one bank account number to another.

Bitcoin wallet addresses are also long and complex, just like private keys. If the Bitcoin is transferred to the wrong wallet address, the funds cannot be recovered.

This is why the safest option is to scan the QR code that is related to the wallet. The address will automatically populate so that mistakes can be avoided.

When receiving Bitcoin from an exchange or another person, the public wallet address can be shared without creating a risk. This is the same as sharing a bank account number to receive AUD.

Should I Invest in Bitcoin? 

Below, we discuss the main investment thesis for Bitcoin. Read on to decide whether or not buying Bitcoin is a suitable investment product.

Top-Performing Asset Class

Bitcoin has outperformed the Australian stock market by a considerable amount since it was launched in 2009. For example, investors that bought Bitcoin in early 2017 would have paid just $1,000 per token.

And as we mentioned earlier, Bitcoin peaked at over $68,000 in late 2021. This represents growth of 6,800% in just under five years of trading.

BTC Price

Now let’s compare this to the ASX 200 – which is the primary index that tracks the largest 200 companies listed on the Australian stock exchange. Over the same period, the ASX 200 has increased by just 26%.

This lackluster performance is not exclusive to the Australian stock markets. For instance, over the prior five years of trading, the UK’s FTSE 100 has increased by just under 10%. Similarly, the US’s Dow Jones has grown by just 31%.

Bear Market Prices Offer an Attractive Entry Price

Bitcoin is a lot more volatile than the ASX 200 and most other stock index funds.

  • Since its launch in 2009, Bitcoin has witnessed many volatile highs and lows, with investor sentiment changing at a moment’s notice.
  • But throughout its 14-year history, the overall trajectory of Bitcoin has been extremely bullish.
  • With that said, Bitcoin is trading far below its former all-time high of $68,000.

As of writing, it is possible to buy Bitcoin in Australia within the $20-25,000 region. Even at the higher end, this offers a discounted entry price of over 60%.

This is why many investors are doubling down on Bitcoin based on current prices. Some investors are implementing a dollar-cost averaging strategy too. This means buying Bitcoin every week or month with smaller amounts to average out the break-even price.

Bitcoin has Been Validated by a Multitude of Global Institutions 

During its initial few years of trading, the consensus in the investment arena was that Bitcoin was a scam. This is no longer the case. Some of the largest institutions and organizations globally now have exposure to Bitcoin.

  • For instance, Tesla – the world’s largest car manufacturer, invested $1.5 billion from its free cash flow to buy Bitcoin and Dogecoin.
  • There are also multi-billion dollar investment funds that hold Bitcoin.
  • Moreover, there are regulated Bitcoin futures markets that have been operational since late 2017.
  • Many companies now accept Bitcoin as a means of payment too. This includes Microsoft, AT&T, Overstock, and many others.

Ultimately, this validates that Bitcoin is here to stay in the long run.

Bitcoin Investments can be Initiated With an ASIC Broker

Buying Bitcoin in Australia is no longer a time-consuming task that requires investors to use unregulated exchanges. On the contrary, some of the best places to buy Bitcoin are online brokers that are authorized and regulated by ASIC.

eToro, for example, is not only licensed by ASIC but with FINRA (US), CySEC (Cyprus), and the FCA (UK). This makes it possible to invest in Bitcoin in Australia in a safe and fully regulated environment.

What’s more, brokers that are regulated by ASIC can legally accept AUD payments. This means it is possible to buy BTC in Australia with a debit card, BPAY,  POLi, PayID, and plenty of other convenient payment types.

Small and Risk-Adjustment Bitcoin Investments are Possible 

First-time investors are often under the impression that buying Bitcoin requires a full BTC token purchase. In other words, an investment of over $20,000.

However, this isn’t the case at all. Bitcoin is a digital asset so it can be split into small fractions. As such, Australians only need to risk a few dollars to gain exposure to this high-growth market.

Not only will this appeal to risk-averse investors but those on a budget. Moreover, this enables investors to buy Bitcoin in Australia via a dollar-cost averaging strategy.

At eToro, the minimum Bitcoin investment is just $10 per trade. As such, a deposit of $120 would support 12 monthly investments.

Different Ways to Buy Bitcoin Online

There are many different ways to buy Bitcoin in Australia. But the options available will depend on the chosen broker or exchange.

When opting for the likes of eToro and, investors can use the following payment methods:

Buy Bitcoin With Debit Card

Most first-time investors will elect to buy Bitcoin in Australia with a debit card. ASIC-regulated brokers like eToro accept both Visa and MasterCard. The payment will be processed instantly.

Bitcoin Price Chart on eToro

eToro charges just 0.5% when buying Bitcoin with a debit card. Bitstamp, however, charges 4%.

Buy Bitcoin With Credit Card

Credit cards are also accepted by regulated Bitcoin brokers. This may involve additional fees, levied by the credit card issuer rather than the broker itself. This is because brokerage transactions may be defined as a cash advance.

Beginners should also evaluate the risk of buying Bitcoin with borrowed capital. This is especially the case considering how volatile Bitcoin is.

Nevertheless, it is possible to buy Bitcoin with a credit card at eToro,, Binance, and many other leading brokers and exchanges.

Buy Bitcoin With PayPal

PayPal is another option when electing to buy Bitcoin in Australia. Fees will once again vary widely depending on the chosen broker. eToro offers PayPal deposits at just 0.5%, which is very competitive.

Buy Bitcoin With BPAY, POLi, PayID, and Other Local Methods

Some of the Bitcoin brokers that we discussed earlier also accept local payment methods. For instance, eToro supports deposits via BPAY, while Binance accepts BPAY and NPP payments.

Using a local payment method is often the cheapest way to buy Bitcoin in Australia.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

Most Cost-Effective Way to Buy Bitcoin in Australia

When investing in Bitcoin in Australia, a variety of fees need to be taken into account. This includes commissions, deposit and withdrawal fees, and market spreads.

  • For instance, when using to buy Bitcoin in Australia, BPAY and NPP payments are processed fee-free.
  • But using a debit/credit card will attract fees of 2.99%.
  • All payment methods at eToro – including debit/credit cards and e-wallets, cost just 0.5%.

Commissions are charged when buying and selling Bitcoin through a broker or an exchange. and Binance charge just 0.075% and 1% in this regard. Coinbase charges 1.49% – which is considerably higher.

Investors should also assess the market spread when buying Bitcoin in Australia. This is the difference between the ‘bid’ (buy) and ‘ask’ (sell) prices quoted by the broker. If the gap is too high, then this will attract unfavorable fees.

We found that when taking all fee types into account, eToro is the cheapest online broker to buy Bitcoin in Australia.

eToro Coinbase Bitstamp
Debit Card Fee 0.5% of $500 = $2.50 3.99% of $500 = $19.95 4% of $500 = $20
Trading Commission 1% of $500 = $5 Built into debit card fee Built into debit card fee
Total Fee $7.50 $19.95 $20

The table above shows that it costs just $2.50 in fees to buy Bitcoin via eToro. But the same investment at Bitstamp will cost $20. As a result, Investors should shop around when selecting the best place to buy Bitcoin in Australia.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

How Does the Bitcoin Price Work?

Bitcoin does not trade on a centralized exchange like stocks and ETFs. As such, Bitcoin can be bought and sold around the clock – seven days per week. The price of Bitcoin will rise and fall like any other asset. Prices are determined by market sentiment.

  • For instance, when Bitcoin went from $5,000 in March 2020 to $60,000 just a year later, this is because market sentiment was overly positive.
  • In other words, more and more people bought Bitcoin which invariably pushes its price up.
  • But when market sentiment is negative, this has the opposite effect.
  • This is what happened when Bitcoin peaked at $68,000 in late 2021.

Nonetheless, Bitcoin’s price action moves in bullish and bearish cycles.

Once again, this is no different from stocks that trade on the ASX 200. One of the best strategies to deal with bearish cycles is to buy Bitcoin while it is cheap. As noted earlier, Bitcoin is trading 60% below its former peak as of writing.

When it comes to selling a Bitcoin investment, this will be conducted at the market price at the time of the trade.

For instance, let’s suppose that an investor decides to buy a Bitcoin at $40,000. When cashing out, Bitcoin is trading at $60,000. This means that the investor will receive $60,000 after closing the trade.

Bitcoin Price Forecast for 2023 and Beyond

Based on previous market cycles, there is anticipation that Bitcoin will soon begin its next bull run. This refers to an extended period where the value of Bitcoin increases. Bitcoin peaked in late 2021 and most analysts agree that the broader crypto markets are still in a bearish cycle.

With that said, signs of recovery are already in the making. For instance, Bitcoin hit lows of $16,000 in late 2022 but has since recovered to surpass the $25,000 level. This is another example of how seasoned crypto traders find success in buying Bitcoin when prices are low.

Bitcoin to USD Chart

However, for Bitcoin to truly enter its next bullish cycle, the initial target must be the previous all-time high of over $68,000. From current pricing levels, this requires an upside of almost 200%. Over the longer term, some crypto analysts believe that Bitcoin could surpass $100-200,000 within the next few years.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

Is it Legal to Buy Bitcoin in Australia? Safety Considerations to Make

Crypto assets are legal in Australia, so residents can easily buy, sell, and trade Bitcoin online. There are no regulatory restrictions in terms of investing and storing Bitcoin. Of course, individuals must pay taxes on any profits they earn from investing in or trading Bitcoin.

However, ASIC has hardened its regulatory stance on Bitcoin derivatives. Although Australians can still trade crypto CFDs (contracts-for-differences), futures, and options, retail clients are limited to leverage of 1:2. This means that for every $100 traded, Australians can access $200 worth of Bitcoin.

By comparison, the UK’s FCA has completely banned Bitcoin derivatives for retail clients. So, relative to the UK, Australians enjoy a more crypto-friendly regulatory environment.

With that said, there is no legal requirement for Bitcoin exchanges to hold a regulatory license with ASIC. This means that not all crypto exchanges are regulated by ASIC.

In general, Australians should opt for an ASIC-regulated exchange. These exchanges have systems to protect user’s funds and accounts may be partially insured against losses if the exchange goes out of business. eToro is authorized and regulated by ASIC and other licensing bodies.

Best Bitcoin Wallet in Australia for Beginners 

We mentioned earlier that Bitcoin tokens are stored in wallets and that transactions are processed by the blockchain. There are many different types of wallets to choose from. For instance, web, mobile, desktop, and hardware wallets are available in their droves.

For complete beginners we like the eToro crypto wallet. Fully regulated by ASIC, the eToro Money crypto wallet is super safe and simple to use.

This is a custodial wallet, which means that eToro takes full responsibility for safeguarding the Bitcoin tokens. eToro is trusted in this sense, as the broker is regulated by ASIC and other tier-one bodies. The eToro web wallet is suitable for those without any prior experience with Bitcoin.

eToro Wallet App

Investors can log into their eToro account to view the Bitcoin tokens alongside their real-time value. The eToro web wallet also makes it simple to cash out. eToro also offers a mobile wallet app for iOS and Android. This option is aimed at intermediate investors that want more control over their Bitcoin.

The eToro mobile wallet is also custodial, so there is no risk of losing the private keys. This option enables users to send and receive Bitcoin on a wallet-to-wallet basis. Both the eToro web and mobile wallets come with additional features, such as being able to buy and sell crypto, deposit funds, and exit an outstanding position.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

Full Step-by-Step on How to Buy Bitcoin in Australia 

After learning the ins and outs of Bitcoin, the next step is to proceed with an investment. This should only be the case after considering the investment risks.

To buy Bitcoin in Australia with the ASIC-regulated broker eToro right now, follow the step-by-step guide below.

Step 1: Open an eToro Account

Opening an account with eToro is a fast and seamless process. The broker will first need to collect some personal information and contact details.

Create an eToro Account

eToro will also require the user to verify their mobile number via an SMS code. After that, upload a copy of a government-issued ID, such as a driver’s license.

Step 2: Deposit Funds

The minimum deposit for Australian clients is $50. Select a payment method and enter a deposit amount.

Some of the most convenient payment types supported by eToro include POLi, debit/credit cards, PayPal, and Skrill.

Step 3: Search for Bitcoin

Look for the search box and type in ‘Bitcoin.

Search Bitcoin on eToro

Then, click on the ‘Trade’ button.

Step 4: Buy Bitcoin

An investment order form will now appear.

Type in the investment amount from $10 upwards.

Buy Bitcoin on eToro

Click ‘Open Trade’ to confirm the investment. The funds will be deducted from the account balance and the Bitcoin will be added to the investment portfolio.

eToro will safely store the Bitcoin tokens on behalf of the investor. At any time, the investor can sell their Bitcoin tokens via the account portfolio.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.


Buying Bitcoin in Australia is a safe and simple process when using an ASIC-regulated broker. While Bitcoin is a high-risk asset, it has outperformed the Australian stock market considerably since launching in 2009.

To buy Bitcoin in Australia today, consider eToro. This regulated broker offers Bitcoin and 70+ other cryptocurrencies with low fees. Australians can get started with just $50 and deposit funds with POLi, debit/credit cards, and more.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.


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Kane Pepi

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…