Bitcoin Australia Review 2023
Bitcoin Australia is one of the longest standing Australian cryptocurrency exchanges. The Australian cryptocurrency exchange is one of the most popular cryptocurrency exchanges based out of Melbourne.
Bitcoin Australia Summary
|Listed Cryptocurrency||BTC, BSV, LINK, ETH, LTC, USDT, USDC|
|Supported Fiat Currencies||AUD, USD, EUR|
|Supported Countries||Australia, USA, UK|
|Deposit Fees||POLI: 3.9%
BPAY: 3.9% + 2%
Newsagent (blueshyft): 3.9% + 2%
Credit Card: 3.9% + 1.99%
Australia Post: 3.9% + 2%
|Customer Support||Email, FAQ, Phone, and Submit Ticket Support|
The Australian platform began its journey in the year 2014. Rupert Hackett, the current CEO of Bitcoin Australia, launched the company in 2015. It has since expanded its operations to other countries.
Bitcoin Australia, according to Hackett, should serve as a Bitcoin ambassador. Because it has eased crypto trading for the country’s experienced traders who want to trade crypto, initiate a bank transfer, and sell BTC. After making a name for itself in the Melbourne marketplace, it has branched out to overseas markets of Canada and the United Kingdom.
The cryptocurrency exchange intends to establish and expand its presence in other prominent crypto-regulated countries. Bitcoin.com.au, often known as Bitcoin Australia, is a prominent cryptocurrency exchange Australia that allows people of various levels of experience to acquire Bitcoin.
Bitcoin Australia was one of the first to provide Bitcoin investment in 2014. In our review, we’ll look at the platform’s trading features, user interface, costs of trading crypto, deposit methods, security, and customer service. This Bitcoin Australia review will go over the features and fees to help you determine if it’s the best crypto exchange for you. Read on for more information.
About Bitcoin Australia
The Australian regulated exchange is a trustworthy and secure crypto trading platform. Bitcoin Australia is one of the best cryptocurrency trading platforms for completing trades with fiat currencies. The Bitcoin.com.au OTC desk offers private high trading volume cryptocurrency exchange directly with the counterparty.
Trades on this the best cryptocurrency trading platform is made with security measures in place. Bitcoin Australia is one of the topmost crypto trading platforms for investors to pursue bitcoin and other digital currencies like Ethereum through convenient deposit methods. You can visit a participating bank branch, and the platform will convert your cash into bitcoin.
Bitcoin.com.au aspires to be Australia’s best bitcoin exchange. Banxa is the company behind it. However, Bitcoin Australia is secured and governed by the Australian Transaction Reports and Analysis Centre (AUSTRAC). In addition to this ordinance by AUSTRAC, the Australian exchange is docile to AML protocols and is overseen by the team leaders of the Australian crypto exchange platform.
In order to ensure the bank transfer and deposit methods are secure, the cryptocurrency exchange also has a mandate of the Know Your Customer (KYC) application process. This one of the cheapest cryptocurrency exchanges processes your orders swiftly and securely.
Unlike other exchanges or crypto platforms that have user accounts and will charge you deposit fees, withdrawal, and transaction fees, Bitcoin Australia does not charge any deposit or withdrawal fees.
When it comes to withdrawals, this reliable platform will electronically transfer you the AUD amount corresponding to your order. It only accepts Australian bank accounts. Bitcoin Australia currently offers instant payments through POLi payment or in-person cash.
Key Features of Bitcoin Australia
The major key features that make Bitcoin Australia, the Best Australian Crypto Exchange around the world are given below:-
- The cryptocurrency exchange platform provides 24×7 client assistance. This builds a better rapport with users
- Experienced users trading cryptocurrencies can leverage the Over the Counter (OTC) hallmark for trading ventures that cross the $30,00 mark.
- The Bitcoin Australia (bitcoin.com.au) website is easy to navigate and has a clear interface with a plethora of trading tools for the best cryptocurrency trading experience. Both beginners and advanced traders can seek professional advice services and more information for their trading pursuits.
- Instantly buy crypto and sell Bitcoin.
- The trading account holds an array of deposit methods for trades which includes cash deposit and bank transfer for traditional currencies.
- Bitcoin Australia’s commodities and services administer a crypto-listed reserve that is operated by competent trading experts.
- Create an account on a website that is simple to use.
- You can do a bank transfer or a cash deposit to deposit funds.
- For trades above $30,000, SMSFs can invest superannuation in Bitcoin and Ethereum on the Over-the-Counter (OTC) market.
- The local customer support team responds to email queries within 24 hours.
Services By Bitcoin Australia
To purchase cryptocurrencies such as Bitcoin can be a rigorous affair, especially for novice investors wanting to trade cryptocurrencies. Through Bitcoin Australia’s payment methods POLi, PayID, Newsagent, to name a few that are integrated into its platform, Bitcoin trading takes place in a smooth manner. POLi Payments allows you to pay by bank transfer using your own internet banking account.
According to the 2018 cryptocurrency exchange guidelines, Australian users trading cryptocurrency on local currency exchanges are required to complete verification before trading.
Before you can purchase Bitcoin, ensure that you have set up the best crypto wallet in order to store, receive and send bitcoin. Digital wallets are an essential part of a functioning cryptocurrency.
Users need to register with their fiat currencies account, choose the desired bank account they want to initiate the crypto trades with, and begin with a trading fee commission.
If you want to sell Bitcoin on the safest cryptocurrency exchange Bitcoin Australia, you are required to fulfill the details of the verifying mandates. This will require id proof of some sort. Relevant documents that are required during the verification by the credit provider are the users’ identification particulars like their domestic locale details, passport, or driver’s license.
After the measures to secure the user’s crypto tokens, the user can begin trading BTC and other crypto assets. On a side note, Bitcoin should be seen as a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin.
Buying Ethereum also has to be verified as per the 2018 cryptocurrency exchange guidelines. Australian users trading on local exchanges is required to complete a verification process at the commencement of their crypto trading.
Bitcoin Australia Review: Pros and Cons
|The popular cryptocurrency exchange platform does not take administration charges out of the users’ cryptocurrency assets.||The platform has low trading valuations. Bitcoin is traded at around a single percentage of the mid-level market valuation.|
|The exchange’s crypto trading fees and bank transfer methods are a quick and easy process.||Bitcoin Australia’s trading fee is a little expensive. In addition to the trading fees, the valuation of payment to the platform for crypto exchanges is directly proportional to the current market prices.|
|Bitcoin Australia has an array of quick deposit methods to buy cryptocurrency.||When it comes to trading options on Bitcoin Australia, a user can buy and sell only Bitcoin. For other major cryptocurrencies such as Ethereum, the platform enables only buying ETH tokens.|
|Credit or debit card payments are not available.|
Account Creation & Verification
Before enrolling with Bitcoin.com.au, you must first place an order. This is in contrast to other Australian Bitcoin exchanges, the largest cryptocurrency exchanges, which allow you to create an account and explore the user interface, live charts, available coins for purchase, and other features before committing.
New and returning users must place an order, create an account, and go through the verification.
Bitcoin Australia Trading Fees and Limits
Bitcoin Australia offers a range of payment methods, each with a varying fee structure. GST is only payable on our transaction fee and is automatically included. There are different trading fee tiers.
Bitcoin Australia Trading Fees
For each deposit method, Bitcoin Australia charges a flat cost of 5%. After commission, 2% additional fees are added to the purchase amount for newsagent and flexepin payment methods. Check the below table to charges in detail:-
However, to check the full fee structure of this exchange check here.
Payment Options on Bitcoin Australia
Bitcoin Australia, the best exchange, offers a variety of AUD to BTC conversion options that are familiar to the majority of Australians. The following are the deposit options accessible on the exchange:
Most Australian banks accept Pay ID as a deposit method. Deposits are usually processed promptly and paid to your BTC Markets account immediately, with no extra costs.
- BPAY: It is a safe and secure way to finance your account. All deposits are done using BPAY, although money may take up to 3 business days to reach BTC Markets.
- POLi Transfer: In this payment method, POLi links straight to your online bank and allows Australian customers to deposit AUD money. Deposits are handled instantly, with a daily maximum of $1,000.
- Cash: A cash deposit at a supported newsagent or Australia Post is an alternate option to buy Bitcoin.
Like most crypto exchanges, using a credit card or debit card to purchase Bitcoin and cryptocurrency is not an option. You will need to find other platforms with this capability if this is your preferred payment method.
How to Buy Bitcoin With Bitcoin Australia?
When you buy and sell crypto, it will involve significant risks. This is why the user needs to sign up for a digital wallet on Bitcoin Australia. Only after signing up for a bitcoin wallet, the user will be authorized to buy and sell BTC tokens through the cryptocurrency platform.
To start trading on the platform and to convert fiat currency into bitcoins, the user has to click on the orange button that indicates ‘buy or sell.’ Moving on to the transaction process, the user has to provide the necessary identification for it to be secure.
After the verification process, the user selects the preferred payment method they wish to take through PayID or POLi deposit methods. You can trade cryptocurrency using your fiat currency on the platform by transferring your funds using any of the available options.
Is It Safe to Use Bitcoin in Australia?
Bitcoin Australia is a safe and secure local exchange that does not keep or store user funds. When you buy Bitcoin or Ethereum on the exchange, the funds are sent immediately to the crypto wallet address you specify. As a result, the danger of theft and compromise on the exchange is substantially decreased, resulting in a secure environment for cryptocurrency purchases. Following are the factors which make it one of the safest exchanges.
In accordance with its duties as a firm that buys and sells Bitcoin, Bitcoin Australia has registered with AUSTRAC. It meets AUSTRAC’s anti-money laundering and anti-terrorist financing (AML/KYC) standards.
The verification procedure is followed. Users are verified by Bitcoin Australia using Australia’s PostID system.
Bitcoin Australia Review: Safety Features
Bitcoin Australia is a bitcoin exchange that is not a custodian. It does not keep your cryptocurrencies or cash for long periods of time. Instead, you submit an order, which is then processed. Bitcoin Australia is a great platform for beginners and one of the best cryptocurrency exchanges in Australia.
According to our Bitcoin Australia Review, the customer support service offered by this exchange is very good for resolving all your issues. You can contact the customer support of Bitcoin Australia to solve your query. If you have any questions or need help, please email at [email protected] or submit a ticket on support.banxa.com. They typically respond within one business day.
Bitcoin Australia Review: Conclusion
In our opinion, the best crypto exchanges depend on each individual’s situation. Bitcoin Australia is a good option if you want to purchase and trade bitcoin or Ethereum fast and simply. You may purchase bitcoin and Ethereum with cash on this Australian site, as well as sell them for Australian dollars (AUD). It is one of the best Australian exchanges to offer the best price and deepest liquidity for high-volume transactions all over the world.
Is Bitcoin Australia Legit?
Bitcoin Australia is a reputable cryptocurrency firm that follows Australian rules and regulations, according to our investigation. The exchange’s KYC verification procedure conforms with the Anti-Money Laundering and Counter-Terrorism Financing Policy (“AML/CTF Policy”) to prevent fraudulent activities such as money laundering.
Is There a Bitcoin Australia App?
No, it does not have a mobile app, the only access is through the webpage of Bitcoin Australia.
Can You Sell Cryptocurrency Using Bitcoin Australia?
Yes, However, the only digital currency that can be sold on the platform at the moment is Bitcoin (BTC).
Which Fiat and Cryptocurrencies Are Supported at Bitcoin Australia?
The fiat currencies that are supported by the platform are AUD, USD, JPY, CAD, EUR, GBP, HKD, JPY, NZD, NOK, PLN, RUB, to name a few. The platform is accessible to certain countries outside of Australia.
Is It Possible to Buy Bitcoin With a Superfund?
Bitcoin Australia allows Australians to invest in Bitcoin using their Super Fund (SMSF) (BTC). The tiered fee structure will appeal to high-net-worth investors because trading fees decrease as trading volumes increase.
Which payment methods are accepted in Bitcoin Australia?
Accepted payment methods in Bitcoin Australia are PayID, BPAY, Flexepin, Cash, and POLi.
Which countries are supported by Bitcoin Australia?
Bitcoin Australia is available outside of Australia also & it accepts a wide range of currencies, which includes AUD, CAD, HKD, JPY, NZD, NOK, PLN CHF, CZK, DKK, EUR, GBP, PLN, RUB, SEK, USD, and SGD.