How to Buy Bitcoins in Australia

Step by Step Guide to Buy Bitcoins in Australia

Asked on September 14, 2018 in Cryptocurrency.
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Buy Bitcoins in Australia

There are several major bitcoin platforms in Australia. They are fairly user-friendly and are in heavy use.

CoinJar is the most famous Australian bitcoin platform and broker. It is easy to use for beginners and supports several fiat currencies. It charges a low fee of 1% per transaction. However, buyers are recommended to use their own bitcoin wallets and not use the one provided by CoinJar.

BuyaBitcoin is an Australian broker of bitcoins. BuyaBitcoin charges relatively high fees of 4.9%, but the level of privacy is very high. The only thing you need to buy bitcoins from them is a phone number. Their delivery of bitcoins is quite fast too, and after a purchase, they deliver within the hour.

Independent Reserve is an Australian Bitcoin exchange, mostly used by large-scale traders and corporations. Payments can be made via EFT, SWIFT, POLi or Crypto Capital. Large amounts can be traded on this exchange, and the fee structure reflects that. Fees start at 0.5%, and can drop to as low as 0.1%, depending on how much is being traded. However, Independent reserve is not good for beginners, as the user interface is very complex.

CoinLoft is a broker with a wide range of payment options, ranging from cash deposit to Flexepin to POLi. The cash deposit option makes things easier for a large number of buyers, but their fees are extremely high. They charge 4% per cash purchase, and credit card payments carry a fee of 9%. The level of privacy is low, as they require ID verification to make even cash purchases.

Answered on September 14, 2018.
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