Best Apps to Buy Bitcoin in Australia

When it comes to purchasing Bitcoin in Australia, choosing the right app is crucial for a smooth and secure experience. With the rise in popularity of cryptocurrencies, numerous apps have emerged, each offering unique features, benefits, and fees. This guide will walk you through the best apps available for buying Bitcoin in Australia, focusing on ease of use, security, transaction fees, and additional features that make each app stand out.

1. Swyftx

Swyftx is one of the most popular cryptocurrency exchanges in Australia, offering a user-friendly app with a range of features that cater to both beginners and experienced traders. The app allows users to buy, sell, and trade over 260 different cryptocurrencies, including Bitcoin. Swyftx stands out for its low fees, with a flat trading fee of 0.6% and spreads as low as 0.41%, making it one of the most cost-effective options for Australian users.

• Ease of Use: The Swyftx app is designed with beginners in mind, featuring a clean and intuitive interface. New users can sign up quickly, verify their identity within minutes, and start trading almost immediately.

• Security: Swyftx takes security seriously, offering two-factor authentication (2FA), biometric login options, and the ability to whitelist withdrawal addresses. Additionally, the platform is regulated by AUSTRAC, providing an extra layer of trust and compliance.

• Additional Features: Swyftx offers demo mode, allowing users to practice trading with virtual currency before risking real money. The app also includes a tax reporting feature that simplifies the process of reporting cryptocurrency transactions for tax purposes.

2. CoinSpot

CoinSpot is another well-established Australian cryptocurrency exchange known for its ease of use and robust security features. It supports over 350 cryptocurrencies, including Bitcoin, and offers a simple and straightforward app for buying, selling, and trading.

• Ease of Use: CoinSpot’s app is highly intuitive, making it ideal for beginners. The sign-up process is quick, and the app's layout is user-friendly, allowing users to easily navigate between different features.

• Security: CoinSpot is one of the most secure cryptocurrency exchanges in Australia, with ISO 27001 certification, which is the highest international standard for information security. The app also offers 2FA and custom withdrawal restrictions to ensure that users’ funds are protected.

• Fees: CoinSpot charges a flat fee of 1% for instant buy/sell transactions, which is slightly higher than Swyftx but still competitive. However, users can take advantage of market orders, which have a lower fee of 0.1%.

3. Binance Australia

Binance is one of the largest cryptocurrency exchanges globally, and its Australian platform, Binance Australia, offers a comprehensive app for buying and trading Bitcoin. With a vast array of features, Binance is suitable for both beginner and advanced traders.

• Ease of Use: While Binance’s app is feature-rich, it may be overwhelming for beginners due to its complexity. However, once users get accustomed to the interface, they can take advantage of its advanced trading tools and features.

• Security: Binance Australia prioritizes security, offering features like 2FA, anti-phishing codes, and withdrawal address whitelisting. The platform also has a Secure Asset Fund for Users (SAFU) that acts as an emergency insurance fund in case of security breaches.

• Fees: Binance is known for its low trading fees, charging just 0.1% per trade. Additionally, users who hold Binance Coin (BNB) can receive a discount on trading fees. Deposit fees vary depending on the payment method, but bank transfers are typically free.

4. Digital Surge

Digital Surge is an Australian cryptocurrency exchange that has gained popularity for its simplicity and transparency. The platform is perfect for beginners looking to buy Bitcoin without being overwhelmed by too many features.

• Ease of Use: Digital Surge’s app is one of the easiest to navigate, with a focus on making the buying process as straightforward as possible. The app allows users to purchase Bitcoin directly with AUD, and the sign-up process is quick and hassle-free.

• Security: The app offers standard security features like 2FA and biometric login, ensuring users' accounts are protected. Digital Surge also provides cold storage for the majority of its users' funds, adding an extra layer of security.

• Fees: Digital Surge charges a flat fee of 0.5% for buying and selling Bitcoin, which is relatively low compared to other platforms. There are no deposit fees for bank transfers, and withdrawals to Australian bank accounts are free.

5. Independent Reserve

Independent Reserve is a well-known cryptocurrency exchange in Australia that caters to both retail and institutional investors. The platform offers a robust app with features that appeal to more experienced users.

• Ease of Use: While the app is more geared toward advanced users, it is still user-friendly enough for beginners who want to explore more sophisticated trading options. The app supports various order types, including limit orders, which allow users to buy Bitcoin at their preferred price.

• Security: Independent Reserve takes security very seriously, offering features like 2FA, encrypted SSL, and multi-sig wallets. The platform is also insured against theft, providing an extra layer of protection for users.

• Fees: Independent Reserve charges a tiered trading fee starting at 0.5%, with the fee decreasing as trading volume increases. Deposits via bank transfer are free, but there is a small fee for withdrawals to Australian bank accounts.

6. Crypto.com

Crypto.com is a global cryptocurrency exchange that has become increasingly popular in Australia. The app offers a wide range of features, including the ability to buy, sell, and earn interest on Bitcoin.

• Ease of Use: Crypto.com’s app is designed to be user-friendly, with a clean interface that makes it easy to navigate. The app also offers a Visa debit card that allows users to spend their cryptocurrency directly.

• Security: The platform is highly secure, offering features like 2FA, withdrawal address whitelisting, and cold storage for the majority of user funds. Crypto.com also has insurance coverage for user assets, providing additional peace of mind.

• Fees: Crypto.com offers competitive fees, with trading fees starting at 0.4%. Users can also benefit from lower fees by staking the platform’s native token, CRO. The app offers various deposit options, with bank transfers being free of charge.

Conclusion

Choosing the best app to buy Bitcoin in Australia depends on your specific needs and preferences. Swyftx is ideal for those looking for low fees and a user-friendly interface, while CoinSpot and Digital Surge offer excellent security and simplicity for beginners. Binance Australia and Independent Reserve are better suited for more experienced traders who need advanced features and lower fees. Crypto.com provides a comprehensive platform with additional features like interest earning and a crypto Visa card.

By carefully considering the features, fees, and security of each app, you can find the best platform to suit your Bitcoin buying needs in Australia.