Best Places to Buy Bitcoin (BTC) in Australia in 2024

With all the positive market sentiment bitcoin has experienced since the start of the year, you’re probably looking to add (more) bitcoin to your portfolio. However, with so many options available, choosing the right place to buy your BTC isn’t always the easiest decision. 

To help you with that decision, here are reviews of some of Australia's best places to buy bitcoin.

paybtc 

paybtc is a self-custody platform allowing users to buy and sell bitcoin instantly. The Australian-based exchange features a simple interface that even complete newcomers can easily navigate to buy BTC using their AUD instantly. 

When buying bitcoin on paybtc, you can either send your AUD via PayID or bank transfer. Payments via PayID are instant and clear 24/7, while a regular bank transfer can take up to one business day to clear. 

Paybtc charges no trading commission. Instead, users pay a spread. What’s more, paybtc offers fast and responsive contact support options. 

Pros 

• Very simple interface that’s easy to navigate
• Non-custodial enhancing security
• Allows you to pay bills with bitcoin
• Quick and responsive customer support 

Cons

• No advanced trading features

CoinSpot 

CoinSpot is one of the most established crypto exchanges in Australia. The platform supports a wide range of cryptocurrencies, including bitcoin, making it a popular option for investors looking for a diverse digital asset portfolio. 

The platform supports various payment methods, including PayID, BPay, and direct deposits using either AUD or USD. CoinSpot imposes no charges on deposit and withdrawal transactions. However, you will incur extra costs if you buy BTC using cash or a card.  

Pros 

• Simple-to-use interface 
• Responsive customer support 
• PayID allows for instant AUD deposits 
• NFT marketplace integration

Cons

• Higher fees for instant transactions 
• Limited advanced trading features 

BTC Markets

BTC Markets is an excellent choice for investors looking for a platform with advanced investment options, such as auto staking. Despite the advanced features, the platform’s interface is well-designed and easy to navigate. 

When buying bitcoin on the platform, you can either use instant OSKOP payments or individual BSB and account numbers. 

Although the platform doesn’t charge deposit fees, withdrawing bitcoin will incur a 0.0003 BTC charge. 

Pros 

• Easy-to-navigate interface 
• Advanced trading features 
• Extensive and comprehensive platform guides available
• Supports API trading for AUD-to-crypto pairs 

Cons

• No live chat support available

Swyftx

Swyftx is an established Australian crypto exchange with various features that cater to novice and advanced traders alike. Its easy-to-navigate interface allows instant BTC trading at any time. 

The platform supports a range of cryptocurrency and payment methods. The supported fiat options are AUD and USD. You will not incur any charges when depositing funds into your account to buy BTC. Withdrawing is also at no extra charge. 

Swyftx’s support team is quite knowledgeable and responsive. You can access the support team 24/7 through the live chat option. 

Pros 

• User-friendly interface 
• Responsive customer support 
• Demo account available for novice traders 
• Allows instant and direct AUD deposits

Cons

• Limited advanced features for experienced traders 
• Relatively high trading fees compared to other crypto trading platforms

Final Word

Finding the best place to buy bitcoin in Australia may be challenging, especially if you are new to the scene and need help figuring out where to start. Our quick guide gives a rundown of the top four places to buy BTC. 

However, keep in mind that it’s essential to do your own research and settle for a platform that caters to your needs.

Author Bio

Rachael is an experienced freelancer contributor to various crypto media publications with a keen interest in how decentralized technologies can change the lives of Africans for the better.

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