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What cryptocurrencies can you buy in Australia?
Dreaming of making it big by trading cryptocurrency, but aren’t sure where to start? There are many, MANY different cryptocurrency options available on the market, with more entering the market all the time. For example, at the time of writing, several digital currency exchanges have over 240 different cryptocurrencies available to buy, sell or trade in Australia.
According to the Australian Securities and Investment Commission (ASIC) crypto is a high-risk investment. This is in part due to its volatility, with values often fluctuating by huge amounts within short periods. And because ASIC does not regulate all platforms where you buy and sell crypto, there’s a risk that your investments may not be protected if a crypto asset fails.
Here’s RateCity’s summary of just a small sample of the major cryptocurrencies you can buy in Australia:
Bitcoin
This is the cryptocurrency you’ve most likely heard of already, setting the standard for others to follow.
Running on a decentralised Bitcoin network (also known as the blockchain), Bitcoin can be bought, sold and traded, as well as used for transactions like other currencies. Bitcoin can also be mined using your computer’s processing power, though the rise of Bitcoin miners using high-end rigs has made mining less practical for many everyday users.
Bitcoin’s supply is capped at 21 million, and this scarcity could affect its value.
Ether
Ether is the coin of the Ethereum network, which is not just a blockchain for cryptocurrency, but a decentralised open-source platform for contracts and other programs.
Much like Bitcoin, Ether can be bought, sold, traded and mined. Users can also pay processing fees (called “gas”) to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain.
Litecoin
All cryptocurrencies can be used to pay for transactions like other forms of money, but these transactions can take a long time to process when the blockchain is involved.
Litecoin is intended to offer a solution, with faster peer-to-peer payment processing so you can actually use your cryptocoins, not just use them as an investing asset.
Similarly to Bitcoin, the number of Litecoins that can be mined is capped, in this case at 84 million.
Ripple
Technically, Ripple is the name of the network behind the cryptocurrency named XRP, though the two names are often used interchangeably.
Similar to Litecoin, Ripple aims to process cryptocurrency transactions faster and more cheaply than the likes of Bitcoin. XRP coins are also released into circulation regularly by a smart contract, rather than needing to be mined.
Ripple can also act as a payment protocol, making it easier to exchange one currency for another, such as when sending payments overseas.
Stablecoins
Rather than being one specific cryptocurrency, this refers to a type of crypto-coin with a less volatile value than many other examples. This may because the coins are backed by another asset (such as the dollar) or managed using algorithms.
Because Stablecoins tend to be less volatile than other cryptocurrencies, they may prove simpler to use for transactions, though they may not offer the same kind of investment opportunities as other cryptocurrencies.
Stablecoins may be more affordable for some investors, though they might not experience the same kind of sudden price spikes as some other crypto assets.
Of course this is just a small list of all the cryptocurrencies available to buy in Australia. For more information on cryptocurrency and how to get started in investing, head to our cryptocurrency hub.
Disclaimer
This article is over two years old, last updated on April 28, 2022. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent cryptocurrency articles.
Compare cryptocurrency exchanges
Swyftx
Cryptocurrencies available: 245
Fiat Currencies Accepted: AUD, NZD
Trading Fee: 0.6%-0% based on a rolling 30 day's trading volume
Withdrawal Fee: $0 for AUD/ Deposit's withdrawals. Network transaction fees apply while transferring coins to an external wallet
Deposit Fees: No POLi fees. No fees on cryptocurrency and PayID deposits. Credit/Debit card deposits supported (5% fee)
An Australian owned and operated digital currency exchange that allows users to sell, trade and buy Bitcoin, and over 245+ other digital assets, with low trading fees and one of the smallest spreads available.
CoinJar
Cryptocurrencies available: 57
Fiat Currencies Accepted: AUD, GBP
Trading Fee: 0%-1%
Withdrawal Fee: No fee for AUD or GBP withdrawals. Cryptocurrency withdrawal fees are based on blockchain network fees
Deposit Fees: No fees with PayID; 2% fee with credit / debit card, Apple Pay, and Google Pay
Australia's longest-running cryptocurrency exchange with over 500,000 Australian customers and a simple to use app for both iOS and Android.
Digital Surge
Cryptocurrencies available: 245
Fiat Currencies Accepted: AUD
Trading Fee: 0.1%-0.5% based on a rolling 30 day trading volume.
Withdrawal Fee: None for Australian bank accounts - Instant withdrawals through Osko/PayID.
Deposit Fees: No fees for Osko/PayID, Direct Deposit, Bank Transfers or cryptocurrency. POLi fees range from $2-$3.30.
Because simplicity makes life better. The easiest way for Australians to buy, sell & store over 245+ cryptocurrencies. Low fees, tight spreads, Aussie-based customer support & an interface that makes crypto enjoyable & easy-to-understand. Simple. Safe. Stress-free.
CoinSpot
Cryptocurrencies available: 263
Fiat Currencies Accepted: AUD
Trading Fee: 0.1% to 1% based on order type
Withdrawal Fee: None for Australian Bank Accounts
Deposit Fees: No fees for POLi, PayID, Direct Deposit and Bank Transfers. 0.9% BPAY fee, 2.5% cash fee
Australia’s most trusted exchange since 2013.
Cointree
Cryptocurrencies available: 280+
Fiat Currencies Accepted: AUD
Trading Fee: 0.05%-0.9%
Withdrawal Fee: No fee with fiat withdrawals. Cryptocurrency withdrawal fees vary.
Deposit Fees: No fee
Buy, sell, trade and pay with crypto. Simple, low fees, easy to use and trusted by 100,000+ members. Enjoy $10 BTC credit after verification with promo code: RATE10
This information does not reflect any ranking, rating, recommendation or endorsement by RateCity of cryptocurrency or any specific provider. RateCity is providing factual information supplied by providers. Not all providers or products are shown. RateCity will earn a fee from the providers displayed in the table (if a link to the provider's website is shown), and the fee levels determine placement in the table. Cryptocurrencies are speculative, complex and can involve significant risks. RateCity is not providing a recommendation for your individual circumstances.
Product database updated 14 Nov, 2024
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