Peoples’ interest in Bitcoin (and other cryptocurrencies) has skyrocketed this year (2021), making it a popular topic among investors and in popular culture, thanks to everyone from celebrated investors like Elon Musk to that high school kid on social media.
Australian Bitcoin Exchanges Accepting Credit Cards
1. Swyftx (Recommended)
Swyftx is one of the most popular cryptocurrency exchange platforms in Australia and New Zealand. The platform was created to address the numerous challenges that have plagued existing cryptocurrency platforms over the years.
Swyftx optimises each crypto order across various exchange order books to provide more liquidity on trading pairings (such as altcoins) than using their order book. As a result of the greater liquidity, the user is offered cheaper spreads (the gap between the bid and ask price). This approach results in a significantly high trading volume and market depth across the supported trading pairs—higher than other crypto exchanges.
Trading fees on a typical Australian cryptocurrency exchange run from 0.5% to 1%, plus “hidden expenses” in the form of significantly fluctuating exchange rates. In Australia, it’s normal for cryptocurrencies to be offered at a premium of 1% to 5%, or more, above the mid-market rates. Fortunately, Swyftx has your interest in mind regarding exchange rates because it offers significantly lower rates than other brokers.
And, while this exchange doesn’t offer the lowest trading fees, they’re still affordable. There are no currency exchange fees if you buy directly with AUD, but expect some costs depending on your payment method and the deposit quantity. It’s worth remembering that using a non-free deposit option for a tiny amount can add up to a significant percentage of the total.
2. CoinSpot
CoinSpot is an Australia-based cryptocurrency company with its headquarters in Melbourne. It provides a safe and secure venue for purchasing various cryptocurrencies and offers the best cryptocurrency services in Australia. Furthermore, it allows users to buy or sell Bitcoin instantaneously and trade on the open market to speculate and profit.
Cryptocurrency exchanges can be overwhelming at times, especially when it’s a peer-to-peer exchange with order books to navigate. Meanwhile, some cryptocurrency brokers may require users to have their wallets or overburden users with unnecessary information or complicated interfaces.
None of these things is done by CoinSpot. It’s a simple brokerage with an optional peer-to-peer market on the side, and it gives wallets for all supported cryptocurrencies to its users. What’s more, it offers a diverse choice of cryptocurrencies in one convenient location.
The registration stages are straightforward, and the verification steps are outlined in detail as part of the registration process. Transaction histories are clearly presented, fees are fixed and explicitly published, and purchase and sell prices can be denominated in AUD or cryptocurrency, whichever you prefer.
Finally, CoinSpot offers local customer service and keeps unnecessary features and information to a bare minimum, focusing solely on the necessities. Plus, the colour scheme is pleasing to the eye.
3. Coinbase
Coinbase digital brokerage currency was started in 2012 by Brain Armstrong and Fred Ehrsam. Since then, some trusted and celebrated investors have backed this platform to offer legitimate financial services in the blockchain field.
Coinbase provides financial services and cryptocurrency products in more than 100 countries worldwide, including Australia, South Africa, India, New Zealand, Hong Kong and Canada. As a result, citizens worldwide can purchase, trade, store, earn, and sell cryptocurrencies using the exchange and broker.
By providing a simple and easy to use platform for individual investors and companies to buy, sell, store and trade digital assets such as Ethereum XRP, Bitcoins and so on, Coinbase has significantly transformed the digital currency space. It’s a reputable platform with an insurance cover that is highly regarded globally and supports major cryptocurrency assets.
Coinbase was created with beginners in mind, allowing them to get started with digital coins like Bitcoin, Ethereum, and XRP. Its dashboard is easy to use, elegant, and straightforward. The left-side navigation bar allows quick access to the primary features and options. This company’s home page can be customised to display favourite coins on a watchlist so you can keep an eye on their prices.
Coinbase’s online wallet is one of the safest places to acquire and store digital assets. This exchange’s ‘bank-like’ security protocols ensure that customers’ cash and personal details are always safe. This is evident because there have never been reports of hacking or compromising of security systems or web wallets that resulted in any funds being lost or leaked information.
With that said, have you tried to buy Bitcoin with a credit card but aren’t sure how to go about it? In this post, I’ll walk you through how you can buy Bitcoins with a credit card.
Before Anything:
- Confirm if your credit company accepts cryptocurrency purchase
- If they do, check the potential fees that will apply when using the credit card
- Create a BTC wallet to hold your Bitcoins—if you don’t already have one
How Do I Buy Bitcoin with a Credit Card in Australia?
Here is a simple process you can follow to buy BTC using your credit or debit card in Australia.
- Compare crypto exchanges—A cryptocurrency exchange is the most convenient way to purchase Bitcoin. Find one with the features that best suits you, such as minimal rates, ease of use, and 24-hour customer service.
- Create an account—To create an account on most exchange platforms, you must verify your email address and identity. So, ensure that you can instantly access your email and a photo of your ID in case they need you to upload it.
- Make a deposit—After verification, you can make your first deposit using the available payment method that best suits you (PayID, bank transfer, POLi, and credit cards are also accepted)
- Buy Bitcoin—You can now convert your money into Bitcoin. This is as simple as inputting the amount you wish to buy and hitting “buy” on more user-friendly exchanges. You can now withdraw your Bitcoin to your wallet if you like.
