How to buy cryptocurrency in Australia: the platforms to trade on

Cryptocurrency has been on a wild ride in the past week and the massive price drops could offer would-be investors an opportunity to buy.

Some investors are hanging onto their coins and remaining upbeat that a recovery is on the horizon, while analysts say last week’s crash could be just a little taste of what’s to come, labelling the crypto market a “bubble” that could pop at any time.

Keeping in mind that regulators have warned anyone investing in crypto should be prepared to lose all their money, there are ways Aussies can take a gamble on the digital coins through a number of platforms.

Here’s how to buy crypto in Australia.

Choose a trading platform

Do your research and choose an online exchange or trading platform. Most will allow you to create an account and transfer in Australian dollars to buy and sell.

Some of the popular platforms include Swyftx, Binance, CoinSpot, Digital Surge and CoinJar, but there are plenty more out there with more than 20 available platforms.

Finder believes that CoinSpot is the most beginner friendly, Digital Surge is best for Aussie transactions and lets you pay bills using BPay and Bitcoin, Binance has the lowest fees, Swyftx is best for altcoins (any coin other than bitcoin) and eToro is best for traders.

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