Options for how to buy Bitcoin in Australia
- Cryptocurrency exchanges
- Apps to buy Bitccoin
- OTC (Over the Counter)
- Bitcoin Brokers
- Bitcoin ATMs
- Get paid in Bitcoin
- Acquaintances and friends
A cryptocurrency exchange is an online business that allows you to buy, sell and trade Bitcoin and other cryptocurrencies in exchange for money (like Australian dollars) or for other digital currencies.
Popular and trusted Australian cryptocurrency exchanges include Independent Reserve, Cointree and Coinspot. All of these exchanges allow you to buy Bitcoin.
Apps to buy Bitcoin
Want to buy Bitcoin on the go? There are apps for both iPhone and Android that allow you to easily purchase Bitcoin and other cryptocurrencies.
OTC stands for Over the Counter. This is service provided by some Bitcoin exchanges for customers that want to buy large amounts of Bitcoin (like $100,000 or more). This is typically provided for SMSFs (Self-Managed Superannuation Funds), institutions and wealthy investors.
In exchange for a fee, Bitcoin brokers provide a personalised concierge service for clients who want to buy Bitcoin. They help you source Bitcoin and may help educate you on how to store your Bitcoin.
A Bitcoin ATM is an electronic kiosk (similar to an ATM) that allows you to purchase Bitcoin by using cash or debit card. Some Bitcoin ATMs offer functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash.
Get paid in Bitcoin
Why buy Bitcoin, when you can get paid in Bitcoin? You don’t have to work in the cryptocurrency industry to get paid in Bitcoin. There are third-party providers that allow you to get paid in Bitcoin.
Buying through friends and acquaintances
Don’t want to bother going through third-parties to buy some Bitcoin? If you have some friends who hold Bitcoin, maybe they can be persuaded to sell you some.
Learn about the pros and cons of buying through friends and acquaintances.
How do I pay for Bitcoin?
Cash or card? This depends on where you choose to buy Bitcoin.
Common ways to pay for Bitcoin
Below is a list of common ways to pay Bitcoin