For many Australian crypto enthusiasts looking to get into cryptocurrency, that ever-elusive first question remains: How to buy Bitcoin? With the rise of blockchain innovation showing no signs of slowing down and cryptocurrency entering more mainstream discussions, now is a perfect time to learn how you can easily become a part of the crypto movement down under.
Whether you're a total newbie just dipping your toes in or an experienced trader, this guide will walk you through seven of the best platforms to facilitate your crypto buys in Australia. We'll explore everything from fees to available coins to customer support for each exchange. By the end, you'll have plenty of insight into the top ways Aussies can start stacking sats today.
The Top Crypto Exchanges For Australian Users:
- Binance - The largest crypto exchange in the world
- KuCoin - Great platform for advanced trading
- MEXC - Large exchange with competitive fees
- Kraken - Professional platform with support for fiat
- Coinbase - Perfect choice for newcomers
- Bybit - Great for experienced traders
- Crypto.com - Solid all-around exchange
Choosing the right crypto exchange in Australia: Ultimate guide for 2024
So, without further ado, let's get into the step-by-step processes and key details for purchasing Bitcoin on some of the leading cryptocurrency exchanges serving Australian customers in 2024.
1. Binance - The world's leading crypto exchange
One of the biggest names in the crypto game, Binance has carved out a dominant global market share since its founding in China back in 2017. While the exchange may seem a bit intimidating for beginners, given its vast scope and features geared towards more advanced traders, its simple registration process and buying options make it a great starting point.
After signing up, you can easily deposit Australian dollars from your bank account via POLi or BPAY in just a few minutes. From there, simply search for Bitcoin on the exchange and select your desired coin. Enter the amount you wish to purchase, and your order will be filled instantly at the best available market rate. Fees are reasonable, too, with a standard 0.1% charge applying to both maker and taker fees.
Funds are secure using Binance's proprietary wallet technology. The exchange also maintains an emergency insurance fund to cover any losses from potential hacks or theft. While not without its critiques, mainly around ongoing regulatory issues, Binance's unparalleled coin selection and liquidity continue to make it the top choice for many new Aussie crypto adopters, as well as one of the best crypto exchanges overall.
| Trading fees | 0.1% maker fee, 0.1% taker fee for spot trading Fees can be reduced through Binance's tiered fee system |
|---|---|
| Supported cryptocurrencies | Over 400 coins, including BTC, ETH, XRP, and altcoins |
| Trading pairs | Users can trade coins against BTC, ETH, BNB, and stablecoins like USDT |
| Daily trading volume | Consistently over $40 billion per day |
How to buy Bitcoin on Binance?
- Sign up at Binance and go through the verification process. This ensures you meet KYC (Know Your Customer) requirements.
- Deposit funds into your Binance account. You can deposit via bank transfer, PayID, or credit card. Fees vary depending on your payment method.
- Trade your deposited funds for Bitcoin or another cryptocurrency. On Binance, you can trade using market orders with fees of 0.1% for makers and 0.1% for takers.
- Withdraw your purchased crypto into your private wallet when ready. You can withdraw your coins from external wallets or use Binance to store them.
Pros:
- Huge range of coins
- Low fees
- Fast withdrawals
Cons:
- No AUD deposits
- Mobile app needs improving
2. KuCoin - Feature-rich exchange for experienced traders
For a slightly lower-key international option, KuCoin has garnered a loyal following among traders down under since opening its digital doors in 2017. Featuring many of the same intuitive buying processes as larger platforms, KuCoin allows quick deposits from accounts or credit cards and places Bitcoin orders with a few simple clicks.
Exchanges like KuCoin offer Australians affordable options when looking to buy crypto in Australia, with competitive 0.1% fees across all trades. No matter if you're a holder purchasing periodically or an active position trader, you'll save a bit of scratch versus other exchanges charging varying maker-taker rates. Additional perks include a sizable selection of altcoins to diversify into, as well as 24/7 multi-lingual support should any issues arise.
While KuCoin may lack the brand notoriety of top dogs, its customer-centric approach has rightfully earned it respect in the Aussie crypto streets. Reliable, affordable, and stress-free - this Hong Kong-based unicorn offers a smooth ride for newcomers learning to navigate the wild world of digital assets.
| Trading fees | Maker fee of 0.1%, taker fee of 0.1% |
|---|---|
| Supported cryptocurrencies | Over 780 cryptocurrencies including BTC, ETH, and over 200 altcoins |
| Trading pairs | Convert coins against BTC, ETH, USDT, and other major stablecoins |
| Daily trading volume | $3-4 billion per day |
How to buy Bitcoin on KuCoin?
- Register for a KuCoin account and verify your identity. You'll need credentials like your full name, email, date of birth, etc.
- Deposit funds into your KuCoin wallet. You can transfer cryptocurrencies or fiat currencies like AUD from your bank account.
- Use your deposited funds to buy the cryptocurrencies you want using KuCoin's instant buy/sell feature. Trading fees are very low at 0.1% per trade.
- Withdraw your purchased cryptocurrencies to an external wallet like Exodus or Trust Wallet when you want to hold them long-term.
Pros:
- Advanced tools
- Fee-reducing token
- Large coin selection
Cons:
- No fiat on-ramps/off-ramps
- High crypto purchase fees
3. MEXC - Rising Asian exchange with low fees
Headquartered in the Seychelles, MEXC Global has swiftly climbed the ranks since its establishment in 2018 to now stand as one of the largest crypto trading platforms worldwide. Catering to over 10 million users across 150 countries, MEXC's intuitive mobile and web interfaces allow intuitive spot trading of over 1,000 coins and tokens.
Australians can easily sign up and top up their MEXC wallets with digital dollars via POLi or bank deposits, then access a full suite of learning resources. From detailed market deeps and analytics to video guides, MEXC strives to educate newcomers as they familiarize themselves with the nuances of blockchain. When ready to buy that first Bitcoin, simple orders are executed with a flat 0.1% fee on both market and limit orders.
Additionally, MEXC operates its own MX tokens that can provide extra perks like trading discounts based on loyalty levels. Meanwhile, comprehensive security features like mandatory 2FA verification give Aussies confidence and peace of mind when throwing down over 300 supported blockchains. All told MEXC shapes up as an exciting international player dedicated to making crypto accessible for all down under.
| Trading fees | Maker fee of 0.1%, taker fee of 0.1% |
|---|---|
| Supported cryptocurrencies | Over 1950 coins and tokens are available |
| Trading pairs | Trade against BTC, ETH, USDT, and more stablecoins |
| Daily trading volume | $2 billion to $2.5 billion per day |
How to buy Bitcoin on MEXC?
- Sign up on MEXC Global and complete verification to trade over $600 daily.
- Connect your bank account or debit card and transfer AUD funds to your MEXC wallet using your unique PayID address.
- Browse coins and market pairs, then use the instant buy feature to purchase coins like Bitcoin or Ethereum with your deposited AUD.
- Leave coins on MEXC to trade further or withdraw to a private wallet like Coinbase or Exodus when ready.
Pros:
- Low 0.1% fees
- Security features
- Native token perks
Cons:
- Limited fiat support
- Some coins have poor liquidity
4. Kraken - Reputable exchange favored by institutions
As one of the pioneering crypto exchanges first established way back in 2011, Kraken still holds significant clout in today's digital asset arena. A tried-and-true pro for experienced traders, newer investors will also find it offers simple onramps suited for crypto novices exploring the lay of the land.
Following registration verifying your identity, fund your Kraken wallet with typical deposit options like POLi and go time. From there, you can scoop up Bitcoin at the best current spread with either instant buy or market/limit orders triggering a 0.9% transaction fee on average. A bevy of teaching guides online help translate sometimes complex concepts for those just taking their first steps.
Kraken's dependable infrastructure and focus on institutional-grade security also ease lingering worries about protecting funds in self-custody. Issues do arise from time to time, but living legends don't build their legendary status without the scars to prove resilience. The venerable vet retains an earned spot amongst elite exchanges that continue serving Aussie crypto enthusiasts well.
| Trading fees | 0.16% to 0.26% depending on 30-day volume |
|---|---|
| Supported cryptocurrencies | Over 250 coins, including BTC, ETH, XRP, and more |
| Trading pairs | Trade pairs include BTC, ETH, USD, and EUR pairs |
| Daily trading volume | $1.5 - 2 billion per day |
How to buy Bitcoin on Kraken?
- Complete the registration form at Kraken, providing ID and address details.
- Transfer funds from your bank account or debit card via Poli Payments.
- Browse the order book and use market/limit orders to buy coins with your deposited AUD.
- Withdraw crypto to external wallets when ready for long-term holding.
Pros:
- Security-focused
- Low fees
- Solid reputation
Cons:
- Low coins/token selection
- Mobile apps lack features
5. Coinbase - Beginner-friendly exchange available worldwide
Coinbase bills itself as the easiest place for newbies to jump on the Bitcoin train, and it's easy to see why with their streamlined mobile-first interface designed for simplicity above all else. ID confirmation gets you up and running in minutes, then deposit funds from your linked bank account or credit card to purchase BTC instantly using the in-app "Convert" functionality.
Zero account fees and a recently slashed 0.5% transaction rate also give it an attractive value prop out of the gate. While Coinbase may need more niche coins or sophisticated trading options of some peers, it's an ideal first destination to scratch that crypto itch with tons of legwork. Robust security backed by industry-leading protocols further eases reservations for beginners too timid to stray offshore just yet.
Simply put, there's no easier doorway for curious newcomers just dipping their toes into the Bitcoin pond in Australia. Its polished accessibility means less initial overwhelm and more focus on understanding the basics - making it a fit for early crypto starters of all technical mindsets.
| Trading fees | 0.5% fee for buying/selling on standard exchange |
|---|---|
| Supported cryptocurrencies | Over 240 coins like BTC, ETH, LTC, and more |
| Trading pairs | Pairs include BTC, ETH, LTC, BCH, and USD pairs |
| Daily trading volume | $6 - 8 billion per day |
How to buy Bitcoin on Coinbase?
- Download the Coinbase App on iOS or Android and sign up, verifying your identity.
- Link your bank account or debit card, then transfer funds to purchase cryptocurrency like Bitcoin instantly.
- Spend or withdraw your purchased coins at any time to external crypto wallets.
- Optional- Set up recurring buys to dollar cost average your investments.
Pros:
- Simple and quick to start
- Broad payment options
Cons:
- High fees
- Limited advanced functions
- Fewer coins
6. Bybit - Powerful exchange perfect for crypto derivatives
Primarily targeting seasoned professional traders, hardcore players will feel right at home on the high-powered Bybit exchange. Leveraging over a decade of derivatives experience, Bybit specializes in futures and perpetual contracts, allowing 100x leverage on top coins.
That said, by signing up via the streamlined onboarding process, you do gain full access to Bybit’s spot trading desk for plain vanilla Bitcoin purchases. After depositing AUD via your preferred payment method, navigate to the "Trade" tab and select BTC pair to enter market orders with low 0.02% fees. Bybit's institutional grade system ensures smooth and secure operations while advanced charting lets power users analyze on the fly.
While perhaps more nuanced than some, Bybit shows crypto know-it-alls Australia has a professional-grade platform handling serious volume with the training wheels off.
| Trading fees | 0.075% spot trading fee, futures commission from 0.02% |
|---|---|
| Supported cryptocurrencies | Over 560 coins can be traded against Tether or Bitcoin. |
| Trading pairs | Crypto/fiat and crypto/crypto spot pairs plus perpetual futures |
| Daily trading volume | $5-10 billion per day |
Pros:
- Ultra-low fees on derivatives
- High leverage
- Speed
Cons:
- No fiat deposits/withdrawals
- Derivatives focus
7. Crypto.com - Credit card program meets competitive crypto exchange
Specializing as much in mainstream branding as cryptocurrency itself, Crypto.com boldly stakes a claim in the Aussie scene. Their intuitive mobile apps let you buy Bitcoin at interbank exchange rates using debit or credit cards with no hidden spreads or markups eating away at profits.
Tapping a button triggers an instant purchase, settling coins directly to your on-exchange Crypto.com Coin wallet. From there, holding deposited funds on their Visa debit card unlocks perks like up to 8% cashback on all spending globally. It's a sleek one-stop-shop appealing both to traders and those seeking useability outside of speculative markets.
Premium subscription tiers provide even more savings and bonuses like Netflix or Amazon gift cards when paying in CRO, the exchange's native token. While fees skew higher than competitors at 2.99%, Crypto.com's seamless linked finance offerings open crypto to the mainstream like few rivals match today. For a blended experience of digital assets in daily life down under, it's hard to beat.
| Trading fees | 0.2% credit/debit card fee, 0% fee with crypto payments |
|---|---|
| Supported cryptocurrencies | Over 325 coins like BTC, ETH, LTC, and CRO |
| Trading pairs | Pairs include the main stablecoins and fiat currencies |
| Daily trading volume | $1.5 - 2 billion per day |
Pros:
- Strong debit card program
- Many interest-earning products
Cons:
- Average spot trading fees
- Lengthy identity verification
The bottom line
Australian buyers in 2024 have several excellent options when it comes time to take ownership of their first Bitcoin or altcoins. For Australians wondering how to buy Bitcoin in Australia, platforms like Binance and Coinbase have made the process quite straightforward by allowing users to easily deposit funds from their bank accounts and purchase Bitcoin with a few clicks.
When selecting an exchange match, keep in mind costs, features important to your needs, and personal risk tolerance. Some specialize in streamlined onboarding, while others aim for extra tools for power users—there's no one-size-fits-all. Do your research, start small, and feel confident you now have multiple access points to this new digital financial landscape.
If you want more security for your crypto assets than exchanges can provide, consider checking out our list of the best crypto wallets for Australian users.
