Buy Cryptocurrency Australia – How To Buy Cryptocurrency for Beginners in 2023

Fact Checked by Gary McFarlane

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

If you’re new to the crypto world, discovering how to buy Bitcoin, Ethereum, Litecoin, and other cryptocurrencies might be difficult at first.

Fortunately, learning the ropes is an easy process.

You can get started with investing in cryptocurrency by doing the four simple steps outlined below.

#1 Broker to Buy Cryptocurrency Australia – eToro

Mobile AppYes
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly

How to Buy Cryptocurrency Australia – Quick Guide for 2023

Want to buy cryptocurrency in Australia right away? Our top recommended cryptocurrency exchange is eToro; here’s how to get started:

  • Step 1. Open an account with eToro: Head over to the eToro website and click ‘Join Now’ to open an account.
  • Step 2. Upload ID: Upload and verify your identity with a copy of your passport or driver’s license.
  • Step 3. Deposit: Fund your trading account by making a deposit using a credit or debit card, bank transfer, or e-wallet.
  • Step 4. Buy Cryptocurrency: Search for specific coins or tokens you need, click ‘Trade,’ and place your order.

Where to Buy Cryptocurrency Australia

You can see an ultimate top 5 brokers round-up to buy cryptocurrency in Australia down below.

Make sure to check the features of each broker to understand which one is the best for you.

1. eToro – Overall Best Way to Buy Cryptocurrency Australia

eToro‘s holdings have grown over time to include more assets. Traders may now trade & invest in more than 40 cryptocurrencies, 45 currency pairings, 100 ETFs, 12 market indexes, and 800 stocks from all around the world.

The company has also been a pioneer in Bitcoin trading for a long time. eToro has a wide selection of cryptos available and is committed to growing this market anytime a well-known coin enters the mainstream.

If you’re looking for a reliable and secured broker, eToro is the way to go. The broker offers a multi-crypto on-chain wallet. This wallet provides a high level of security, with multi-signature sign-in functionality, allowing you to monitor your blockchain transactions without exposing your private key. 

eToro — Cryptocurrency Fees

Trading with eToro entails no commission. However, the broker can charge the difference between Buy/Sell price (spread). You can see spreads charged for popular coins below:


  • Buy crypto using an e-wallet
  • A wide pool of crypto is available
  • You don’t pay commission trading crypto (only spread)
  • Invest with just $10 as an initial exposure
  • Get the most of CopyTrading to grow your capital
  • FCA, SEC, and ASIC approved eToro


  • You have to pay a small fee of $5 for withdrawal

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

2. – Best CFD Exchange for Cryptocurrency Traders’s trading platform is quite easy to use, indicating that the development team prioritized user experience. The transition from web-based to mobile is smooth, providing advanced technical analysis without filling the screen area with redundant data.

Although the platform is a great entry point into CFD trading, experienced investors may prefer access to more extensive data, charts, and analytical tools.

For example, the kind provided by MetaTrader 4 (MT4) is also available through MT4 includes a plethora of technical indicators, charting choices, and automated trading support. Fees — Reliable Cryptocurrency Broker in Australia

In comparison to many brokers, provides some of the market’s tightest spreads  — for example, one of the most liquid crypto pairings, BTC/USD, is approximately 0.5%. does not charge commission on transactions and only charges fees if holdings are maintained open overnight. The costs will vary depending on the market  — you can get complete details on the broker’s website.

Below, you can see other fees does or does not charge when you trade cryptocurrency:

Type of activity Fees
  • Deposit
  • Withdrawal
  • Real-time Quotes
  • Opening/Closing trades
  • Educational material
  • Dynamic charts and indicators
0% Fee
Crypto trading The spread varies for each trading pair and instrument.
Overnight charge The overnight fee is based on the leverage provided, not on the entire value of the cryptocurrency you buy.



  • Well-planned mobile apps for traders
  • A credible broker with tons of positive reviews
  • Meaningful guides, articles, and other resources
  • The platform offers crypto-to-crypto pairings to trade
  • Reasonably low spreads.


  • CFD trading is a challenging investment form
  • Not the best broker for complete beginners.

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

3. – Trade with Confidence on the Most Advanced Platform in the World is a leading cryptocurrency exchange that offers its users a variety of benefits.

With over 250 digital currencies to choose from, has something for everyone. Whether you’re interested in Bitcoin, Ethereum, or one of the many ERC-20 tokens, has what you’re looking for. is known for its security measures, which include 2-factor authentication and withdrawal protection to ensure that user information and funds are safe.

If you’re looking for a secure and compliant way to store your digital assets, is the ideal solution. They use robust security measures and compliance monitoring to protect your deposits, and all customer deposits are stored offline in cold storage to help avoid security breaches and thefts.’s platform is built with security and stability in mind, so you can trade with confidence. offers the best trading experience for new users with low fees and without the need to stake CRO. With a total monthly trading volume of less than $25,000, you’ll pay just 0.4% on all trades.

With volume-based discounts and the option to pay in CRO, you can save big on every trade. Plus, by staking CRO, you can get even bigger discounts! So sign up today and start saving!

Plus,’s sophisticated trading platform makes it easy to find the right opportunity and execute trades quickly and efficiently.

So why wait? Sign up today and start taking advantage of this popular platform.


  • Buy, sell, and trade over 250 digital currencies
  • Save on your trading fees with volume-based discounts
  • Get started in minutes with a user-friendly platform
  • Start building your wealth today with cryptocurrency trading
  • Ride the cryptocurrency wave and get in on the ground floor


  • Fees are higher unless you hold and utilize CRO

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

4. AvaTrade – Solid MT4 & MT5 Broker to Buy Cryptocurrency Australia

AvaTrade website June 22

AvaTrade is designed for all kinds of traders: from complete beginners to medium and seasoned traders. The main feature of the platform is the number of trading platforms accessible to users. There is something for everyone here, whether you are a novice, a seasoned trader, or someone in-between.

AvaTrade provides MetaTrader 4, MetaTrader 5, MetaTrader for Mac, mobile and web trading. You can also trade using the AvaTradeAct platform. 

On top of all trading platforms available, you can use the following automating software to grow your capital:

  • RoboX
  • Mirror Trader
  • MQL5 Signal Service
  • API Trading
  • Duplitrade

To start trading with AvaTrade, you need a minimum deposit of $100.

AvaTrade Fees — Reliable Cryptocurrency Broker in Australia

You don’t pay any account-related fees, deposits, or withdrawal fees. However, you must constantly trade to avoid inactivity fees. If you don’t trade for three months straight, AvaTrade charges a $50 fee.

On top of that, if you forget to close your account for more than a year, you must pay a $100 penalty. AvaTrade also charges trading spreads. The difference between Buy and Sell prices is charged every time you open a crypto position. 


  • You can use popular trading terminals such as MetaTrader 4
  • Make the most of the leverage up to 20
  • Resourceful education system
  • Effective trading tools for beginners and veterans
  • The EU, Australia, and others accepted AvaTrade as a licensed broker


  • Support might lie down on the job
  • Withdrawal takes more time on weekends

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

5. Coinbase – Reputable Cryptocurrency Broker With 89 Million Customers


Coinbase is the world’s most popular way to buy and sell cryptocurrencies, making it easy for beginners and experts alike. With Coinbase, you can buy Bitcoin, Ethereum, Litecoin, and other cryptocurrencies with ease.

Plus, with Coinbase Pro, you can trade a variety of cryptocurrencies at high speeds and get the features you need for busy traders. Whether you’re just starting out or are a seasoned pro, Coinbase has something for you.

Among other features worth mentioning, the broker has a special tracking system. It records what users spend cryptocurrency on. If customers used crypto to buy goods on the darknet, gamble, or other questionable businesses, Coinbase can close or freeze the account.

In addition, Coinbase stores the vast majority of crypto in “cold” wallets, which ensures that your assets are secured.

Coinbase — Buy Cryptocurrency Australia Flat Fees

Overall Transaction Amount Transaction Fee
$10 or less $0.99
More than $10, less than or equal to $25 $1.49
More than $25, less than or equal to $50 $1.99
More than $50, less than or equal to $200 $2.99

Coinbase Pro Fees 

Coinbase Pro fees depend on the trading volume: the more you trade, the less your fees.

Pricing Tier Taker Fee Maker Fee
Less than $10K 0.50% 0.50%
$10K to $50K 0.35% 0.35%
$50K to $100K 0.25% 0.15%
$100K to $1M 0.20% 0.10%
$1M to $10M 0.18% 0.08%
$10M to $50M 0.18% 0.08%
$50M to $100M 0.15% 0.05%



  • TOP1 crypto exchange in the United States
  • The website has hints and clues to navigate it easy
  • A whole range of payment methods at your disposal
  • You can withdraw money either on Coinbase wallet or your personal wallet


  • 3.99% fee on debit card deposits

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

6. Binance – Largest Cryptocurrency Exchange That Supports Australia Debit/Credit Cards

Binance Homepage

Binance is a fast-growing crypto exchange that is noteworthy for having its own coin, BNB. It’s used to pay commissions, boost ecosystem performance, and for staking (cryptocurrency deposit).

The exchange also has low fees (0.1 percent) and quick transaction processing (up to 1.4 million transactions per second). Any cryptocurrency can be deposited for free and without a charge. To create a basic account on Binance, you have to enter an address, name, date of birth, and provide supporting documents for Know Your Customer (KYC) purposes.

Binance Fees — Largest Cryptocurrency Broker 

Unless you pay with a credit/debit card, Binance charges you a commission of 0.1%. Suppose you use an Australian credit/debit card, then the fee rockets as high as 2%.

Sometimes the broker promotes discounted card fees making them as low as 1%. However, it’s still not enough for intraday traders or scalpers. If you invest long term, Binance could be an answer.

The spot trading fee is 0.1%, while Instant Buy/Sell Crypto fee is 0.5%. However, you can reduce fees if you hold BNB in your account. 

30d Trade Volume (USD) Maker / Taker Fees Maker / Taker Fees

if you hold BNB

< 50,000 USD 0.1000% / 0.1000% 0.0750% / 0.0750%
≥ 50,000 USD 0.0900% / 0.0900% 0.0675% / 0.0675%
≥ 100,000 USD 0.0800% / 0.0900% 0.0600% / 0.0675%
≥ 500,000 USD 0.0700% / 0.0800% 0.0525% / 0.0600%
≥ 1,000,000 USD 0.0500% / 0.0700% 0.0375% / 0.0525%
≥ 5,000,000 USD 0.0400% / 0.0600% 0.0300% / 0.0450%



  • Top 1 in terms of trading volume
  • Supports more than 700 trading pairings
  • Reasonable fees
  • You can trade anytime
  • Trade using your phone or tablet
  • Rock-solid reputation
  • Suitable for long-term investment strategies


  • It might seem confusing to beginners
  • Charges a 2% fee if you use debit/credit card deposits

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

Why Buy Cryptocurrency Australia?

Unlike conventional money, most cryptocurrencies have a finite supply that is restricted by mathematical procedures. That prevents any political entity or government agency from diluting crypto’s worth through inflation. However, there are other crucial reasons to make crypto somewhat the finance world’s superstar. 

Crypto is the New Gold

One of the main reasons for the great popularity (hence, liquidity) of cryptocurrencies is the so-called shady buying scheme. Cryptocurrencies are used for shady schemes: purchasing illegal goods or money laundering, and other things.

First, funds are purchased, then cryptocurrencies are exchanged through exchanges and “mixers” services. Thus, they pass through hundreds of different addresses, making it almost impossible to establish their original owner.


Cryptocurrency transfers are interesting first of all because they are fast and secure. You can quickly transfer cryptocurrencies using your mobile phone, tablet, or laptop. To make a transfer, you will need your cryptocurrency wallet address to which the funds will be transferred. 


You don’t have to worry about the safety of your cryptocurrency. To secure your assets, you can have a special wallet. Usually, cryptocurrencies are stored in a digital wallet created in the cloud, server, or on your computer.

For example, eToro broker offers a digital wallet that helps you trade cryptocurrency almost instantly without risking your security. Trading with eToro, you store all your assets on the platform’s server. That means eToro stores and protects your crypto no matter what. 

High Liquidity

High liquidity promotes higher prices for all interested parties because of the large number of buyers and sellers. A buoyant market with a high level of trading activity usually creates an equilibrium market price that is acceptable to all.

High liquidity also guarantees price stability and ensures that prices are not subject to significant fluctuations caused by large trades, affecting cryptocurrency prices, encouraging increased volatility and market risk. In a liquid market, prices are stable enough to withstand large orders due to many participants.

Ways to Buy Cryptocurrency Australia

eToro exchange is one of the first cryptocurrency brokers to provide various payment options and other services. You can make deposits and withdrawals via Skrill, Neteller, PayPal on eToro. As long as you fill your account with a minimum of $50 and invest at least $10, any payment method is available to you.

Buy Cryptocurrency with PayPal

Not every exchange allows e-wallets to buy crypto. Most of the brokers focus on credit/debit cards or wire transfers instead. 

eToro is a reliable broker allowing you to buy crypto with PayPal. To buy cryptocurrency with PayPal, you should first register with eToro. Signing up is free. 

On top of that, you don’t have to deposit right away, so you can take the platform for a spin before going live. However, if you want to buy crypto, you’ll need at least 10 U.S dollars to get started with investment. 

Buy Cryptocurrency with PayPal at eToro From $10 Now >

Buy Cryptocurrency With Debit/Credit Card 

eToro supports debit cards and charges you a 0.5% exchange fee. To buy cryptocurrency in Australia using a debit card, you must upload your ID first. The process is intuitive and takes less than five minutes. The process remains the same with a credit card. However, credit card purchases entail an extra fee called a cash advance fee. 

Buy Cryptocurrency with Credit Card at eToro From $10 Now >

How to Buy Cryptocurrency Anonymously Australia

You can only buy cryptocurrency anonymously if you deal with an unregulated cryptocurrency exchange. We don’t recommend you to have any business with non-regulated brokers because they often have security and privacy issues.

Any reliable Australian cryptocurrency exchange must comply with government know-your-customer regulations; hence, you must verify your identity. 

Buy Cryptocurrency at eToro From $10 Now >

Risks of Buying Cryptocurrency

Before you buy any crypto, you should analyze it and understand the risks you’re about to face. Let’s talk briefly about the main risks related to investing in crypto.

Lack of collateral

Government assets back up every national currency in the world. Bitcoin, like most other cryptos, isn’t backed up by anything. Cryptocurrencies lack collateral, and that’s a substantial risk to consider. Some experts claim that the crypto market is nothing else but a bubble to burst in the future.

High volatility

Financial specialists can accurately predict the value of fiat currencies and stock quotes. However, no one can predict the exact value of Bitcoin, Litecoin, or any other crypto. Factors that cause volatility in the value of cryptocurrencies are the large volume of exchange trading, legislative initiatives of regulatory bodies, the integration of virtual currencies with various companies, and much more.

In addition, finance experts note the high sensitivity of the cryptocurrency rate to news reports, rumors, and the relationship among various cryptocurrencies.


The technological component often develops very quickly and sometimes even uncontrollably. Let’s say you decided to invest in the most successful coin – Bitcoin. Surely, it’s no secret that Bitcoin already has and continues to face a huge number of competitors almost every day.

Although Bitcoin is the most recognizable and popular cryptocurrency, there is still a real technological risk that another more perfect virtual currency will emerge. You simply may not see the moment when your virtual assets depreciate. However, this disadvantage is easily compensated by diversifying your portfolio: you can invest in several different coins or invest in an ETF fund to safeguard your capital from a fleeting fall into the abyss. 

How to Buy Cryptocurrency in Australia – eToro Guide

Buying cryptocurrency in 2023 is easy and only takes four basic steps. If you want to invest in cryptocurrency, follow our four-step instructions.

Step 1: Sign Up at eToro

eToro Signup

To get started with investing in cryptocurrency, you need a minimum deposit of just $10. But, first, let’s take a look at the account opening process.

Buy Cryptocurrency with 0% Commission Now >

Fill the form to continue. You have to verify your identity if you want to invest big. However, you can skip this step and verify your account at any time.

Step 2: Verify Your Account & Upload Your ID

eToro verify

You need your I.D. and proof of address to verify your account: any official document works as proof: recent utility bill, bank statement, driving license, receipt, etc. You can skip uploading and scan documents whenever you feel comfortable.

Step 3: Deposit Funds

Deposit Funds

Funding your trading account is an effortless process. You may deposit dollars into your account using a variety of methods. Select the form of payment that is most convenient for you and complete the steps outlined below:

  1. Enter your eToro account.
  2. Click on the ‘Deposit to account’ button.
  3. Enter the amount you want to invest. (min $10)
  4. Select any method you want to fund the account.

Step 4: Search for Cryptocurrency & Buy

Now you can use the search box to buy cryptocurrency. Type any cryptocurrency you need to check whether it’s available or not. Since eToro trades the most popular coins, the chances are you will find desired assets.

Once you find, say, Litecoin, you should click on trade. Then you’ll see either the ‘Set Order’ or ‘Open Trade’ buttons. If the market is closed at the moment, you’ll see the ‘Set Order’ button; otherwise, you’ll see the ‘Open Trade’ button. To complete your investment, click on the button and fill in the amount you want to invest.

To evaluate your investment, you can go to the ‘Portfolio’ tab of your eToro account. 

Types and Features of Cryptocurrencies

While experts argue which coin will initiate the revolution, the crypto market retakes a 2 trillion capitalization. That’s good news for those who want to invest in crypto. Let’s have a look at the substantial crypto forming this tremendous market cap. 

Bitcoin (BTC)

Bitcoin (BTC) is the most popular and successful coin on the crypto market. The capitalization of BTC exceeds $860 billion and, according to many analysts, will only grow. Despite the frantic volatility of the cryptocurrency, companies and well-known investors start investing in it.

For example, not so long ago, the coin was purchased by “King of Wall Street” Tudor Jones, chief investment strategist of Guggenheim Partners Scott Minerd and founder of Duquesne Capital Stan Druckenmiller.

There are various types of Bitcoin wallets – some that can be accessed on a mobile app, desktop computer, or even hardware device. Make sure you have the best one by ensuring it meets all requirements so not only do security measures match what’s required but also accessibility in case anything happens!

Ethereum (ETH)

Ethereum (ETH) is the second-largest cryptocurrency by market capitalization.  Ethereum can be used as a cryptocurrency and a platform for smart contracts and online services based on them. Imagine a copper coin: you can use it as a payment method, but you can also melt it down and forge other coins.

Ripple (XRP)

XRP is one of the popular cryptocurrencies that users prefer because the Ripple network provides lightning-fast money transfers between banks in different countries. XRP boasts TOP10 trading volume.

Cardano (ADA)

ADA operates on a specifically developed blockchain platform utilizing a particular protocol and scientific philosophy concepts. Cardano holds one of the top spots in terms of the trading volume.

Litecoin (LTC)

Created by a former Google engineer, Litecoin (LTC) processes transactions faster than Bitcoin. The coin has a TOP20 trading volume on CoinMarketCap.

Monero (XMR)

Monero (XMR) is focused on the increased anonymity of transactions. The main feature of Monero is the use of the CryptoNote protocol, which operates on circular signatures. The coin’s market cap is about $5 billion.

Miota (IOTA)

Miota (IOTA) a distributed cryptocurrency whose task is to provide secure communications and payments between devices in the Internet of Things (IoT). IOTA is the first distributed ledger technology (DLT), which, thanks to its Tangle system, allows free transactions (with no fees). The total capitalization of the token is about $3 billion.

Selling Cryptocurrency: A Quick Overview

You want to sell crypto easily and quickly to make money from it. On top of that, your coins need first-class protection from hackers and technical failures. All of these factors come together on the eToro crypto platform. Let’s break down the process of selling assets on this exchange as an example.

  • Suppose you invest $600 in crypto on eToro. You can use any payment method you want: from a credit/debit card to an e-wallet.
  • Your assets are stored on eToro’s server. The moment you decide to sell assets, they are available instantly. 
  • To sell your crypto, you have to enter your eToro account and proceed to your assets. Once you find an asset you want to sell, click the “Sell” button.
  • You’ll be able to withdraw money from your eToro account shortly.

How to Buy Cryptocurrency Australia – Conclusion

If you are looking for a way to diversify your investment portfolio with new assets, cryptocurrency may be an excellent choice. On the other hand, if you are just starting to invest, some coins can lay the foundation for long-term investing.

For example, you can buy Bitcoin for small amounts every two weeks or invest in different cryptocurrencies. You can also combine cryptocurrencies with more reliable assets available on eToro – stocks, ETFs, indices. 

Buy Cryptocurrency Now in Australia – eToro

Mobile AppYes
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly


How to Buy Cryptocurrency?

Where to Buy Cryptocurrency?

Is Cryptocurrency A Good Investment?

How to Sell Cryptocurrency?

About Farkhad Fatkhulov PRO INVESTOR

Farhad is a commercial writer focusing on finance & investment and niche B2B. The author's distinctive feature is the depth of research and information analysis. With more than a thousand articles under his belt, Farhad combines financial knowledge with real-life investment portfolio managing experience. He also writes for FinTech & Crypto related projects due to his knack for technologies.