Key takeout
Bitcoin is legal in Australia and is regulated by Austrac and the Australian Tax Office (ATO).
You can purchase Bitcoin on a variety of platforms, including central exchange, decentralized exchange (DEXS), P2P platforms, and Bitcoin ATMs
Payment options are diverse, including credit cards, debit cards, bank transfers, and Fiat cash deposits.
Keep your Bitcoin secure and choose a cold wallet. This will provide better protection than a crypto exchange custody wallet.
Bitcoin adoption continues to grow. More and more Australians are discovering cryptocurrencies as an investment vehicle, with ownership rising from 23% in 2023 to 32.5% in 2025, an impressive 41.3% increase. Buying Bitcoin is low-energy and safe, as there are several platforms to choose from.
This article explains several ways and provides instructions for starting your own Bitcoin investment safely.
Is Bitcoin legal in Australia?
Yes, Bitcoin is legal in Australia, but is not considered a fiat currency. Local governments consider ownership of cryptocurrencies such as Bitcoin (BTC) to be property. Profits from Bitcoin are subject to the Capital Gain Tax (CGT) along with the Australian Transaction Reporting and Analysis Centre (Austrac) to ensure AML and CTF compliance.
Of course, there are also a variety of regulatory requirements to comply with. Austrac requires cryptocurrency companies to comply with anti-money laundering (AML) and counter-terrorism (CTF) regulations. The framework aims to protect Australian investors by protecting the crypto market against financial crime.
A major update in 2025 requires a major cryptographic platform to obtain Australian Financial Services Licenses (AFSL) to enhance consumer protection, as outlined in the government proposal.
Did you know? Some Australian exchanges offer immediate verification so you can start trading Bitcoin within minutes.
Prerequisites for purchasing Bitcoin in Australia
It is essential to prepare properly before purchasing Bitcoin in Australia. To get you started, here are some points of interest:
Understanding the legal environment: Bitcoin is legal and is regulated by Austrak in Australia, but it is not a fiat currency. Governments can safely deal with cryptocurrencies by minimizing risks such as money laundering.
Platform to Buy Bitcoin in Australia: If you are purchasing Bitcoin or other crypto assets in Australia, use a reliable platform. Select Coinspot, Swyftx, or Binance. These exchanges are in compliance with local regulations and will ensure you are able to trade safely. Of course, don’t forget to complete the KYC verification. Please note that Binance only offers spot transactions as its derivative license was cancelled in 2023.
Set up a non-obligatory wallet for your own obligation. Choose a non-custodial wallet, such as a trust wallet or an Exodus Book. This allows you to control the private key. If you’re going for long-term storage of coins, always choose a cold wallet that stores assets offline.
Payment Methods and Fees: The fastest and safest way is to start trading with reliable payment methods such as bank transfer, credit card, or PayID. Always check the relevant transaction fees. That way, avoid unexpected (and sometimes high) charges.
Secure investment: Take precautions against your security as well. Enable 2-factor authentication (2FA) on your account and periodically back up your private key. Make sure your platform offers strong security features such as encryption and cold storage.
How to Buy Bitcoin in Australia with Intensive Exchange
Want to buy Bitcoin through a central exchange such as Coinspot? You can do this easily and quickly:
Step 1: Create an account. Sign up for Coinspot with your email address and secure password. Run and start the KYC process with ID verification. As of 2025, Coinspot is complying with Austrac regulations and new AFSL requirements, ensuring increased consumer protection.
Step 2: Add a payment method. We link payment methods such as bank transfer, debit cards, and Australia-only PayIDs. Coinspot supports low-cost options like bank transfer (free via Poli) and PayID, but credit/debit card transactions can cost up to 2.58%, so check these costs beforehand.
Step 3: Go to the Bitcoin Purchase section. Go to “Buy/Sale” on the Coinspot website or app and select Bitcoin from the list of over 350 supported cryptocurrencies.
Step 4: Enter the amount. Enter the amount of Bitcoin you want to purchase with AUD. The platform displays the amount of Bitcoin you are purchasing based on the current exchange rate.
Step 5: Check the transaction. Please check the details including the price before confirming your purchase.
Step 6: Confirm your purchase and complete it. Click (Buy Now) to complete the transaction. Bitcoins purchased will be displayed immediately in your Coin Spot Wallet. To increase security, you can consider transferring BTC to a non-regime wallet like the Exodus book after purchase to get complete control of your private key.
This efficient process allows Bitcoin to beginners and experienced users to access a safe, regulated environment.
Using a wallet other than how to buy bitcoin in Australia
Non-lawyer wallets have full control over Bitcoin. If you want to know how to buy Bitcoin with Trust Wallet, follow these steps:
Step 1: Set up your trust wallet. Download the Trust Wallet from the App Store or Google Play. Create a wallet, set a secure password, and write down 12 words recovery phrases.
Step 2: Link your payment method. Link payment methods such as debit cards and bank transfers via MoonPay or Simplex. Use a service that supports Australian Trust Wallets.
Step 3: Select Bitcoin and start purchasing. Tap “Buy” in the Trust Wallet, select Bitcoin (BTC) and enter the amount in aud. Please check the transaction details before completing your purchase.
Step 4: Review the transaction and complete it. After confirming your payment details, tap Confirm to complete your purchase. Bitcoin will appear in your trust wallet as soon as it is finalized.
Use involuntary wallets to always own Bitcoin and optimize your privacy and security.
How to Buy Bitcoin in Australia with Decentralized Exchange (DEX)
Buying Bitcoin through DEXs such as Uniswap gives you complete freedom to manage your assets. Here’s how to buy Bitcoin via Dex:
Step 1: Set up your crypto wallet. Download the meta mask and create a wallet. Save the 12 words of recovery phrase and place the ETH in your wallet to cover transaction costs.
Step 2: Connect to DEX (UNISWAP). Visit the UnisWap website and click on Connect Wallet. Select MetaMask or Wallet Connect for mobile users.
Step 3: Select the bitcoin you want to buy. Choose ETH as the token and wrap Bitcoin (WBTC) as the token you want to buy.
Step 4: Review and approve the transaction. Please check the details including the amount of ETH you will receive and WBTC and check the transaction.
Step 5: Confirm your purchase and complete it. Once you check everything, the transaction is processed on the Ethereum blockchain. The WBTC will be displayed in the MetaMask Wallet.
DEX allows you to maintain control over your private key while enjoying a decentralized trading experience.
Did you know? Bitcoin adoption in Australia has been on the rise recently, with many Australians deploying cryptocurrencies to diversify their investment portfolios.
How to Buy Bitcoin in Australia via P2P Platform
In Australia, there are peer-to-peer (P2P) cryptocurrency platforms such as Binance P2P, which buy Bitcoin directly from other users, providing flexibility and privacy. Here’s how to buy Bitcoin on the P2P platform:
Step 1: Create an account. Sign up for KYC verification and complete it. Prepare your ID and check contact details during the process. In particular, Austrac-registered Binance P2P ensures compliance with AML/CTF regulations and is a reliable option for Australians.
Step 2: Search for Bitcoin offers. See available offers, filtering by payment method (bank transfer, PayID, etc.), price or seller’s reputation. Prioritize sellers with a high feedback score (e.g. 95% + positive rating) and history of 100 or more completed transactions for reliability. Binance P2P clearly displays these metrics. As of 2025, Binance P2P has global support for over 31 Fiat currencies and over 700 payment methods, adjusting offers to Australian users.
Step 3: Start trading. Select the amount of Bitcoin or Fiat currency you want to trade and click Buy.
Step 4: Make the payment. Pay via bank transfer, PayID, or other accepted payment methods. The platform will keep Bitcoin in escrow until payment is confirmed. In particular, PayID transactions are instantaneously free on Binance P2P, but bank transfers can take 1-2 hours. To avoid delays, check receipts with the seller via the platform’s messaging system.
Step 5: Receive Bitcoin: Once the seller verifies the payment, the escrowed Bitcoin will be released into your P2P wallet (e.g. Binance Wallet). This usually happens within minutes with instant methods like PayID.
For maximum security, you can quickly transfer BTC to non-radical wallets like trust wallets or hardware wallets like ledgers. The P2P platform is not designed for long-term storage.
This P2P process offers a direct and flexible way to buy Bitcoin, and in 2025 Binance P2P stands out with its robust escrow system and wide range of payment options. Always reaffirm your seller’s reliability, avoid out-of-platform payments to mitigate risk and align with best practices for P2P trading.
How to Buy Bitcoin in Australia using Bitcoin ATM
Using Bitcoin ATMs makes it easy to buy Bitcoin. Here’s how:
Step 1: Find the Bitcoin ATM. Search for Bitcoin ATMs on Coinatmradar. These machines are usually found in shopping centres in major Australian cities.
Step 2: Verify your identity. Most ATMs require a government-issued ID, such as a driver’s license or passport.
Step 3: Start the transaction. Select “Buy Bitcoin” and enter the amount you want to purchase with AUD or Bitcoin.
Step 4: Enter your wallet address. Scan your Bitcoin wallet QR code and enter it in your address to allow you to receive Bitcoin.
Step 5: Deposit the money. You deposit your money at an ATM to complete the transaction.
Step 6: Confirm and complete. Review the transaction and confirm your purchase. After processing, the Bitcoin arrives in your wallet.
Quick checklist for using Bitcoin ATMs in Australia
Find a validated ATM via Coinatmradar.
Please bring your wallet QR code and ID that you have set up in advance.
Compare fees/fees with online alternatives.
Use in safe and public places.
Review receipts and track transactions.
It does not avoid unofficial QR codes or support contacts.
Start with a small test transaction.
How to Buy Bitcoin ETFs in Australia
Buying a Bitcoin ETF in Australia is easy. Just follow these steps.
Step 1: Select the broker platform. Open your account at a brokerage that offers Bitcoin ETFs on ASX. Make sure you comply with Australian financial regulations.
Step 2: Complete the KYC verification. Please provide proof of identity and proof of address for verification.
Step 3: Deposit the funds. Transfer funds to your account using secure methods such as bank transfers.
Step 4: Search for Bitcoin ETFs. Use the platform search function to find Bitcoin ETFs such as Vaneck Bitcoin ETFs (VBTC) and Global X 21Shares Bitcoin ETFs (EBTC).
Step 5: Place your order. Select the number of units to purchase, then select the market or limit order.
Step 6: Confirm your purchase. Check and confirm the transaction. ETF units are added to the portfolio after the transaction is completed.
Did you know: Australia’s Bitcoin ETFs are scrutinized by ASIC and ASX to ensure high transparency and investor protection.
Best Practices for Buying Bitcoin in Australia
Use a reputable platform that complies with ASIC and Austrac regulations to securely store your Bitcoin after your purchase. Have a secure internet connection and enable 2-factor authentication (2FA).
Choose a cost-effective payment method, such as bank transfer, instead of a credit card. Once you have purchased Bitcoin, you can move it to your unsecured wallet and have full control over your private key.
For maximum security, use a cold wallet. Stay up to date with market trends, tax liability and regulations changes to protect your investments. The crypto landscape is rapidly evolving and staying up to date will help you make better investment decisions while ensuring compliance with Australian laws.
