How to Buy Crypto in Australia 2025

Authored by:
Adam Woodhead
Adam Woodhead

Adam Woodhead

Co-Founder

Adam is a Co-Founder and content creator for The Investors Centre. His key areas of interest and expertise are cryptocurrency and blockchain technology.

Twitter Profile
Author Bio
Reviewed by:
Thomas Drury
Thomas Drury

Thomas Drury

Co-Founder

Seasoned finance professional with 10+ years' experience. Chartered status holder. Proficient in CFDs, ISAs, and crypto investing. Passionate about helping others achieve financial goals.

Twitter Profile
Author Bio

Fact Checked

How we test

At The Investors Centre, we pride ourselves on our rigorous fact-checking process. To delve deeper into our meticulous testing procedures and discover how we ensure accuracy and reliability, visit our dedicated page on how we test.

Risk Warning

General Disclaimer

Cryptocurrency trading involves significant risks, including the potential loss of your entire investment. Prices can be highly volatile, and past performance is not indicative of future results. Please consider your financial situation, risk tolerance, and seek independent financial advice before engaging in cryptocurrency trading.

Affiliate Disclosure

This page contains affiliate links, meaning we may earn a commission if you click through and sign up with one of our partners. This does not influence our reviews or rankings, which are based on our honest opinions and thorough research.

Take 2 mins to learn more.

Updated 10/01/2025

Find the top-rated crypto trading platforms for Australians, tested with real transactions to ensure reliability. Each platform offers easy AUD deposits and tools to simplify your crypto journey

Quick Answer: How Do You Buy Cryptocurrency in Australia?

Getting started with cryptocurrency in Australia is simpler than you might think.

  1. Create an account with a crypto exchange like eToro or Coinbase.
  2. Verify your identity and deposit AUD into your account.
  3. Research cryptocurrencies such as Bitcoin or Ethereum.
  4. Purchase crypto via the exchange’s app or website.
  5. Use a crypto wallet for secure storage or keep it on the exchange.

Featured Crypto Exchange - eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

When I first began exploring cryptocurrency, I was overwhelmed by the countless options and the seemingly complex process. However, after some research and trial and error, I found a straightforward way to get started. This guide is designed to help Australians confidently navigate the world of crypto in 2025, offering clear steps, personal insights, and practical tips to make your journey as smooth as possible.

To Buy Cryptocurrency in Australia, Here’s What You Need to Do:

  1. Choose a trusted exchange: Look for a platform designed for Australian users that supports AUD for smooth and cost-effective transactions.
  2. Sign up for an account: Create an account with your email and basic details—it’s quick and easy to get started.
  3. Verify your identity: Upload your ID and proof of address to meet Australia’s KYC requirements and secure your account.
  4. Fund your account: Deposit AUD using PayID, BPAY, or a direct bank transfer—whichever is most convenient for you.
  5. Buy your cryptocurrency: Select the coin you want to invest in, enter the amount, and confirm your purchase.
  6. Secure your assets: Transfer your crypto to a private wallet to keep your investment safe from potential risks.

Step 1: Choose the Right Platform

Selecting the right exchange was the first step in my Crypto journey. There are plenty of options, but finding one that suits Australians requires considering fees, AUD compatibility, and ease of use.

Key factors I considered:

  • Regulation: Platforms regulated under AUSTRAC are safer and more reliable.
  • AUD support: Avoid currency conversion fees by using exchanges that directly support AUD.
  • Fees: Low trading and deposit fees make a big difference for small investors like me.

How to Choose the Best Exchange for Australians

Here’s what I looked for when choosing an exchange:

  • AUD integration: Using AUD for deposits saves on currency conversion.
  • Security: Look for exchanges offering 2FA and insurance against breaches.
  • Ease of registration: Platforms like eToro and Coinbase simplified the onboarding process.

Pro tip: Check Australian forums or reviews for insights into local user experiences.


Below, I’ll discuss three standout platforms for Australians, but you can find a more comprehensive comparison of these exchanges here: Best Crypto Exchanges for Australians .//Needs to be updated for the austrialian site when the page is done.

FeatureeToroKrakenCoinbase
Ease of UseUser-friendly, ideal for beginners with CopyTrading features.Advanced interface, best for experienced traders.Extremely user-friendly, great for first-time buyers.
FeesMedium fees; includes spread and withdrawal costs.Low fees; 0.16% maker, 0.26% taker.High fees; 1.49% transaction fee plus spread, extra for debit/credit cards.
Funding OptionsPayID, POLi, credit/debit cards, bank transfers.Bank transfer, crypto deposits, wire transfer.Bank transfer, debit/credit card, PayPal.
Crypto Selection70+ cryptocurrencies, focuses on popular assets.200+ cryptocurrencies, including niche options.250+ cryptocurrencies, with a focus on variety and education.
Security2FA, cold storage, regulated by global financial authorities.2FA, cold storage, SSL encryption.2FA, biometric logins, AES-256 encryption.
Regulatory ComplianceRegulated under ASIC and other global financial authorities.Complies with global standards, including AUSTRAC.Registered as a Money Services Business and AUSTRAC compliant.

When I began exploring exchanges, eToro’s CopyTrading caught my attention—it felt reassuring to learn from experienced traders. For serious trades, Kraken stands out for its low fees, but Coinbase remains my go-to for quick and easy transactions.

Step 2: Register and Verify Your Identity

Setting up an account was straightforward with eToro but required identity verification. Australian exchanges must comply with KYC (Know Your Customer) regulations, which protect against fraud.

How to Register and Verify on eToro in Australia

Signing up for eToro involved creating an account with my email, choosing a strong password, and enabling 2FA for security. Kraken’s process was similar but included extra steps for advanced trading settings.

Steps to register:

  1. Sign up with an email and password.
  2. Verify your email and set up 2FA.
  3. Complete the KYC verification (upload ID).

Both platforms guided me through the process seamlessly.

Registration Process Explained

I uploaded my driver’s licence and a recent utility bill to verify my identity and address. For Australians, verification typically takes 24–48 hours, though some platforms like eToro offer near-instant approval.

Tips for a smoother process:

  • Ensure your documents are clear and legible.
  • Double-check your details before submitting.

KYC Verification and Its Importance in Australia

While KYC felt like a hassle at first, it’s a vital step. It ensures compliance with Australian laws and adds a layer of security.

Why KYC matters:

  • Protects against fraud and scams.
  • Ensures exchanges comply with AUSTRAC regulations.
  • Adds trust and security to the platform.

This process not only safeguards your account from unauthorised access but also ensures compliance with AUSTRAC and Australian regulatory standards, giving you peace of mind as you begin trading.

eToro Sign up process

Step 3: Deposit Funds into Your Account

Transferring Funds Into Your eToro Account

After completing verification, I needed to deposit funds into my exchange account. Luckily, most platforms offer multiple payment options tailored for Australians.

Before making a deposit, double-check the payment details provided by eToro to avoid any errors or delays. The platform’s intuitive interface will guide you through the funding process—from selecting your preferred payment method to confirming your transaction.

For eToro, I linked my debit card, while with Kraken, I opted for a bank transfer via PayID. Both methods worked well, though bank transfers took slightly longer to process.

Steps to fund your account:

  1. Go to the “Deposit” section of your account.
  2. Select your payment method (bank transfer, card, etc.).
  3. Follow the prompts to complete your deposit.

 

eToro Depositing Funds process

What Payment Options Are Available in Australia?

Payment MethodSpeedFeesBest For
PayIDInstantFreeSmall, quick deposits
BPAY1–2 daysLowLarge transactions
POLiInstantLowBank-linked payments
Bank Transfer1–3 daysLowHigh-value transactions
Credit/Debit CardInstantHighImmediate purchases

Each payment method has its strengths. For small, quick deposits, I always rely on PayID. It’s fast, reliable, and often free. However, for transferring larger sums, I prefer BPAY. Although it takes a little longer, it’s trusted and widely accepted by exchanges.

Step 4: Placing Your First Crypto Order

Once your wallet is funded, purchasing cryptocurrency becomes a straightforward task. Locate the cryptocurrency you want to buy on the platform, input the desired amount, and finalise the transaction. I vividly remember my first purchase—it felt like a big leap, and I meticulously reviewed every detail before pressing “Buy,” knowing it marked the beginning of my crypto journey.

How Do You Place a Buy Order on eToro in Australia?

  1. Search for your preferred cryptocurrency: In this example I used the platform’s search bar to locate Bitcoin (BTC).
  2. Enter the amount: Specify how much you want to invest.
  3. Select your order type:
    • A Market Order buys Crypto instantly at the current market price.
    • A Limit Order allows you to set a specific price at which to buy.
  4. Review and confirm: Double-check all details before hitting “Open Trade.”

On eToro, my first purchase took less than 5 minutes. The platform’s user-friendly dashboard made the process smooth, even for a beginner. Once completed, your Cryptocurrency/Bitcoin will appear in your eToro portfolio, ready to be managed or transferred to a private wallet.

Market vs. Limit Orders – What’s the Difference?

When I placed my first Crypto order, I was unsure whether to use a market order or a limit order. Here’s how I learned the difference:

  • Market Order:
    • Executes instantly at the current market price.
    • Best for beginners or when you want to buy or sell quickly without waiting.
    • Example: I used a market order to buy Bitcoin immediately during a price dip, ensuring I didn’t miss out.
    • Downside: You might pay slightly more due to price slippage during high market activity.
  • Limit Order:
    • Executes only when your selected cryptocurrency reaches the specific price you set.
    • Best for advanced users who want precise control over their trades.
    • Example: I set a limit order to purchase Bitcoin at $40,000 AUD when the market price was $41,000 AUD. This would allow me to purchase at a lower price automatically once the market dropped to my target level.
    • Opt for limit orders if you’re willing to wait for a better deal.

Step 5: Storing your Crypto Investment Safely

After trading my first cryptocurrency, I quickly realised that securing it is just as crucial as making the purchase. Proper storage is essential, and a robust security plan should always be at the top of your priorities.

Should You Store Your Crypto on an Exchange or in a Wallet?

Storing your Crypto on an exchange offers convenience, especially for frequent traders, but it comes with risks like potential hacks or platform failures. In contrast, a private wallet provides greater security and full control of your assets, protecting them from external threats.

Personally, I keep a small portion of my crypto on exchanges for quick trades but store the bulk in a hardware wallet for maximum security.

What Are the Pros and Cons of Keeping Crypto on an Exchange?

Keeping Crypto on an Exchange

Pros:

    • Convenience: Easy access for frequent trading.
    • Ease of Use: No need to manage private keys.

Cons:

    • Security: Vulnerable to hacks and outages.
    • Control: No full control as the exchange holds your keys.

Using a Private Wallet

Pros:

    • Security: Provides full control and ownership of your assets.
    • Risk Mitigation: Enhanced security, reducing risks of hacks or exchange failures.

Cons:

    • Know-how: Requires setup and understanding of wallet usage.
    • Convenience:
    • Less convenient for regular trading due to additional steps for deposits and withdrawals.

The choice depends on your needs. If you’re actively trading, an exchange might be more practical. For long-term storage and higher security, a private wallet is the better option.

How Do You Transfer Crypto to a Private Wallet?

  1. Set Up Your Wallet:

    • Hardware wallets (e.g., Ledger Nano X, Trezor Model T) for long-term security.
    • Software wallets (e.g., Trust Wallet, Exodus) for active trading.
      • Follow the wallet’s setup instructions: Create your account and securely store backup information, such as private keys or recovery phrases.
      • Backup your private keys: Store backups in multiple secure locations to ensure access if the wallet is lost or damaged.
  2. Initiate the Transfer from Kraken:

    • Log in to your eToro account and navigate to your specified Crypto balance.
    • Click on “Withdraw” and select Bitcoin (BTC) as the cryptocurrency to transfer.
  3. Enter Your Wallet’s Public Address:

    • Copy your wallet’s public address (ensure it matches the cryptocurrency type, e.g., BTC for Bitcoin).
    • Paste the address into the designated withdrawal field on eToro.
    • Double-check the address carefully—any mistake can result in a permanent loss of funds.
    • Specify the amount of crypto assets you wish to transfer.
  4. Authorise and Confirm the Transaction:

    • Complete any additional security verifications required by eToro (e.g., two-factor authentication).
    • Confirm the transaction to initiate the transfer.
    • Your Crypto will arrive in your wallet once the blockchain processes the transaction, which may take a few minutes to an hour.

By moving your assets to a private wallet, you gain full control over your digital assets and reduce the risk of losing them to exchange breaches or online attacks. For me, the peace of mind from using a hardware wallet far outweighs the initial setup effort.

Best Crypto  Wallets for Australian Traders

WalletTypeFeaturesSecurity LevelPrice (AUD)
Ledger Nano XHardwareOffline storage, Bluetooth-enabledVery High$239 AUD
Trezor Model THardwareEasy setup, touchscreen interfaceVery High$299 AUD
Trust WalletSoftwareMobile-friendly, supports multi-cryptoMediumFree
Exodus WalletSoftwareDesktop/mobile compatibility, staking optionsMediumFree

I personally use the Ledger Nano X—it feels reassuring to know my Crypto assets are stored offline. For those who prefer simplicity, Trezor is an excellent choice.

Check out our guide for an in-depth look at wallet options tailored for Australians. Explore the Best Wallets for Australians


Tip: Always double-check the wallet address to avoid irreversible mistakes.


Step 6: Tracking and Managing Your Crypto Investment

After securing my Crypto, I wanted to keep track of its performance. Thankfully, there are plenty of tools available.

Tools for Tracking Your Portfolio

I use apps like Blockfolio and CoinStats to monitor my Crypto’s value. These apps let me track prices in real-time and set alerts for significant market changes.

Features to look for:

  • Portfolio overviews.
  • Customisable price alerts.
  • Real-time updates.

Tracking your Crypto investments is essential to stay informed about market movements. Portfolio management apps make it easy to monitor prices, performance, and trends. I use these apps daily to check my holdings and keep an eye on the market—it’s a simple habit that keeps me in control.

Portfolio Dashboards

eToro provides a user-friendly portfolio dashboard that offers real-time tracking of your Crypto holdings and overall portfolio performance. Features include:

    • Asset Distribution: View how your investments are spread across different cryptocurrencies.
    • Historical Data: Analyse past performance to identify growth trends and areas for improvement.
    • Customisable Views: Adjust settings to focus on specific metrics, such as daily changes or long-term growth.

For me, the ability to see my portfolio’s growth over time has been invaluable. It’s helped me make informed decisions about when to hold or adjust my investments.

Price Alerts

eToro’s price alert system allows you to set custom notifications for significant price movements. Here’s how it helps:

  • React Quickly: Be notified when Cryptocurrencies like Bitcoin hit your target prices.
  • Volatility Management: Stay ahead of sudden market changes to capitalise on opportunities or prevent losses.

Setting up price alerts on eToro is straightforward, and they’ve saved me from missing out on key market opportunities more than once.

Best tools for price alerts:

  • CoinStats.
  • Binance app.
  • Blockfolio.

Market News and Insights

Staying informed about the latest developments is critical for success in cryptocurrency investing. eToro offers:

  • Market Updates: Regular insights into Crypto trends, Australian regulatory changes, and global market movements.
  • Educational Content: Tutorials and guides to help you understand cryptocurrency dynamics.

These updates have helped me stay ahead of market trends and adjust my strategy based on the latest news.

Additional Tools for Tracking

For a broader market perspective, I use external tools to complement eToro’s dashboard:

  • CoinGecko: Tracks live prices, market caps, and token rankings across hundreds of cryptocurrencies.
  • CoinMarketCap: Offers detailed trading volumes, charts, and insights for market analysis.
  • Crypto Pro: A portfolio tracker with advanced analytics, price alerts, and news aggregation.

 

Combining eToro’s tools with external platforms like CoinGecko and Crypto Pro provides a comprehensive view of the market. These resources make it easier to discover new opportunities and track trends, helping you make informed investment decisions.

By leveraging eToro’s built-in tools alongside external platforms, you can confidently monitor your cryptocurrency portfolio and stay ahead in this fast-moving market.

How Can Crypto ATMs Be Used Alongside Exchanges in Australia?

Crypto ATMs are convenient for Australians who prefer quick, in-person transactions. Located in major cities, these ATMs allow you to buy or sell cryptocurrencies like Bitcoin using cash or bank cards.

Benefits of Crypto  ATMs:

  • Accessibility: No need for an exchange account.
  • Speed: Transactions are processed instantly.
  • Privacy: Minimal personal details required for smaller transactions.

However, CryptoATMs often charge higher fees than exchanges. I recommend them for emergencies or small purchases. According to Statista, there are over 200 Bitcoin ATMs in Australia as of 2025.

What Mistakes Should Australians Avoid When Buying Crypto?

As a beginner, I made some costly mistakes. Here are the most common errors Australians should avoid:

  • FOMO buying: Jumping in during price spikes can lead to losses.
  • Ignoring fees: Always check for deposit, withdrawal, and trading fees.
  • Using unsecured wallets: Prioritise security to prevent hacks.

Real-life example: I once forgot to enable 2FA on an exchange, which left my account vulnerable. It’s a mistake I’ll never make again.

What Should You Know About Crypto Before You Buy?

How Do Cryptocurrencies Work?

Cryptocurrency is a digital form of money powered by blockchain technology. Unlike traditional currencies, it operates on a decentralised network of computers (nodes) to ensure security, transparency, and trust—eliminating the need for banks or central authorities.

Key Features of Cryptocurrency:

  • Decentralised Network: Cryptocurrencies rely on a global network of nodes to verify and record transactions, removing intermediaries.
  • Blockchain Ledger: Each transaction is permanently recorded on a blockchain, a public and tamper-proof ledger that ensures transparency.
  • Efficiency: Transactions are often faster and more cost-effective, particularly for cross-border payments.
  • Diverse Applications: Cryptocurrencies range from Bitcoin as a digital currency to Ethereum, which supports smart contracts, and many others with unique use cases.

What’s the Role of Blockchain in Crypto Transactions?

Cryptocurrencies like Bitcoin are referred to as digital currency  whci h are powered by blockchain technology. Transactions are verified through a decentralised network of computers, ensuring security and transparency.

Every transaction is recorded on the blockchain, a public ledger. When I first started investing in cryptocurrencies, I was amazed by how it eliminates the need for a middleman, making it efficient and cost-effective. However, this also means you’re responsible for securing your private keys—your access to the funds.

Why Are Cryptocurrencies So Popular in Australia?

Cryptocurrencies, led by Bitcoin, have become increasingly popular in Australia due to their growing adoption and diverse use cases. Bitcoin’s first-mover advantage and its status as the most traded cryptocurrency on platforms like eToro and Coinbase solidify its position as a leading choice for Australians. Additionally, with some local businesses now accept Bitcoin as payment, its appeal has been further enhanced.

CryptocurrencyPrimary Use CaseAdoption in AustraliaMarket Strength
Bitcoin (BTC)Store of value Widely accepted Strong liquidity and trust
Ethereum (ETH)Smart contracts & DApps Growing acceptance High innovation potential
Ripple (XRP)Cross-border payments Increasing adoption among banks Moderate liquidity
Cardano (ADA)Blockchain platform Growing but less mainstream High potential but lower volume
Solana (SOL)High-speed blockchain Limited but growing adoption Popular among developers

How Does Bitcoin Compare to Other Cryptocurrencies?

Bitcoin is the pioneer of cryptocurrencies, offering unmatched security and widespread global acceptance. While other cryptocurrencies like Ethereum bring innovations such as smart contract functionality, they often come with added complexity.

For me, Bitcoin stands out because of its simplicity as digital money. It’s easier to understand as a beginner and remains a reliable choice even as I explore other projects like Ethereum or Solana.

What Are the Final Steps to Start Investing in Crypto?

Starting your crypto journey is simple:

  • Start small: Buy a manageable amount to learn how the market works.
  • Secure your Crypto Assets: Transfer it to a trusted wallet.
  • Educate yourself: Stay informed about the market and investment strategies.

Platforms like eToro or Coinbase are great starting points for Australians. When I began, I made small, calculated moves and gradually gained confidence. Taking that first step is the hardest but most rewarding part.

FAQs

Platforms like eToro and Coinbase offer beginner-friendly interfaces and AUD support, making them ideal for first-time buyers.

Yes, Bitcoin is legal and regulated by AUSTRAC, ensuring compliance with financial laws.

You can use bank transfers, PayID, credit cards, or debit cards, depending on your exchange.

Fees vary by platform and payment method. Typically, expect trading fees (0.1–1%), deposit fees, and withdrawal charges.

Yes, these platforms are regulated and use strong security measures. Always enable 2FA and avoid sharing your login credentials.

Buy Crypto Today!

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Our #1 Rated Crypto Exchange

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

EnglishIreland