Best Bitcoin App Australia – Safest & Cheapest Apps Compared

If you’re based in Australia and looking for the best Bitcoin app Australia – you have a ton of providers to choose from. Some providers may focus on extremely low fees and commissions, others are known for offering hundreds of Bitcoin-denominated pairs.

To help clear the mist, this guide will review the Best Bitcoin App Australia. We also break down the key factors you need to look out for when choosing a provider yourself and outline the steps required to join a Bitcoin app Australia today.

If you’re looking for the best bitcoin trading app Australia right now, below you will find our picks for the top contender. For a full review of these Bitcoin apps, you can further scroll down!

Best Bitcoin Apps Australia

1. Avatrade – Best Bitcoin trading app Australia CFDs
2. Coinbase – User-Friendly Bitcoin trading app Australia With Over 35 Million Customers
3. Binance – Most popular Bitcoin trading app Australia provider
4. Plus500 – Best Bitcoin trading app Australia with low fees
5. Eightcap – Best MT4 Bitcoin trading app Australia
6. Kraken – Leading Bitcoin trading app Australia with small initial investment
7. Skilling – Top Bitcoin trading app Australia with tight spread and zero commissions
8. Coinjar – Best Bitcoin trading app Australia for inexperienced traders and investors

Best Bitcoin Apps Reviewed

With so many Bitcoin apps in Australia, there are certain metrics in particular that can help in picking out the best option for you, ahead of your Bitcoin trading app setup.

As a given, regulation and safety should be one of the very first things to consider, however, on top of this should also include fees, commissions, payment methods, and more. Taking all of this into account, below you will find a selection of the best Bitcoin trading apps in Australia.

1. Avatrade – Best Bitcoin Trading App Australia for leverage

AvaTrade is a global CFD and forex broker founded in 2006. It is regulated in three tier-1 jurisdictions and three tier-2 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.

It provides CFD trading with Bitcoin offering a leverage of up to 20:1. Alongside Bitcoin, they also offer a selection of other coins and tokens that can be top additions to the trading portfolio. They include Ethereum, Litecoin, Dash, IOTA, NEO, Stellar Lumens, Ripple, EOS, and Bitcoin Cash.

AvaTrade offers low CFD and competitive fees. With zero commissions, which means that the fees are included in the bid-ask spread. When it comes to non-trading fees, these are also considerably low as there are no deposit fees, withdrawal fees, or account fees.

Lastly, note there is an inactivity fee that is charged if no activity is shown or open trades for 3 months. AvaTrade charges 50$ per quarter. Moreover, the broker sets a fee for administration of 100$ in case you didn’t use the account for 12 consecutive months, so something to keep an eye on if you do not plan on using the account.

71% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – User-Friendly Bitcoin Trading App Australia

Coinbase is the largest cryptocurrency trading platform globally. Based in the US, the broker is home to over 35 million users across more than 100 nations.

As such, your money is safe when you trade cryptocurrencies at Coinbase. Now, Coinbase does come with both its pros and cons – like most platforms. Regarding the good points, Coinbase is a super user-friendly way to trade Bitcoin, perfect for beginners, you can see that as soon as you land on the website, given it is clear and free from jargon.

Additionally, Coinbase is strong when it comes to security. It keeps 98% of client funds in cold storage – which makes it virtually immune to external hacks. It also offers security controls like two-factor authentication and the ability to lock your Bitcoin away for 48 hours after a withdrawal request is made.

In terms of tradable markets, Coinbase offers a good selection of cryptocurrencies that you can buy – including Bitcoin. It also offers a sister platform that is dedicated more so to short-term trading and with a wider range of trading pairs. Coinbase Pro, as it is now branded, offers heaps of crypto pairs – many of which contain Bitcoin.

The main drawback with Coinbase is that the fees are quite excessive. For example, you will need to pay 3.99% to deposit funds with most debit cards. Bitcoin trading fees amount to 1.49% – which again, is expensive. You will pay even more if you trade with a small amount of money, as the variable fee turns into a flat rate. Ultimately, while Coinbase is great for newbies and top-notch security, this does come at a cost.

3. Binance – Most Popular Bitcoin Trading App Australia

Binance is a solid contender for being one of the best Bitcoin trading apps Australia, given its high popularity with users in the industry. Firstly, it offers some of the lowest fees in the crypto space, so for those looking to minimize the sometimes-hefty costs at other brokers or exchanges may want to take a close look here.

Binance offers a wide range of Bitcoin pairs to exchange and trade, hundreds as a matter of fact. It does really stand out when it comes to its commission structure. Fees generally start low, and then only move lower, Binance has a volume-based pricing model, but only benefit those who are trading $10,000 upwards.

They also offer a method to instantly purchase your Bitcoin and other cryptocurrencies, however, the fees here do jump somewhat. So if you’re looking to buy Bitcoin straight from your debit card and want to do it right now, rather than waiting for money to transfer to your Binance account, you can make it happen. Binance charges a 4.5 percent fee on those deposits, whereas bank transfers are free.

Binance also allows clients to trade directly from one cryptocurrency to another. It means that you will not have to cash out of one coin (or into another stablecoin) and then move into the new currency. Rather, you can swap straight from the coin you’re selling to the coin you actually want. Not only is it just more efficient in terms of making transactions, but it also helps you avoid unnecessary trading fees, too. Note that cross-trading is not available on all cryptocurrency pairs, but Bitcoin can be swapped directly with nine other coins.

Types of Bitcoin Apps

There are different types of Bitcoin trading apps Australia that is available to you, it is down to establishing which best suits your needs. If you're looking for top Australian apps, you can read our best investment apps guide as well.

Let’s take a look at the different types to understand their respective purposes.

Apps for Buying Bitcoin

In terms of apps to buy bitcoin, there are multiple buyers and sellers that are placing offers to buy and sell simultaneously. Buyers have the ability to choose to buy at any price, however, the order will not be completed until a seller agrees to the transaction. The equilibrium price on these exchanges is set as the last agreed-on price between buyers and sellers.

Bitcoin CFD Apps

These involve trading Bitcoin via Contract for Differences (CFDs). This type of financial instrument allows you to trade Bitcoin without actually having to own it. The CFD price is the price of the underlying asset. So if the price of Bitcoin goes up, so will the price of the CFD. Similarly, if the price of the underlying asset goes down, so will the price of the CFD.

When trading on CFDs via an app, you select Bitcoin and enter your order. If you think the price of Bitcoin will increase, you’ll want to buy the Bitcoin CFD. The same goes the other way – if you predict the value will go down, you short sell the CFD.

Bitcoin Wallet Apps

A Bitcoin wallet app is essentially software that lets you store Bitcoin and other coins. For example, if you bought a certain amount of Bitcoin, you need to then keep this safely somehow. This is where you need an online storage facility. A crypto wallet will do that for you.

The Bitcoin wallet has private keys that allow you to sign transactions. You can think of these private keys as secret codes that allow you to spend the crypto coin that you hold. The blockchain is a record of all these transactions.

The private keys are highly important. If someone steals your private keys (via malware running on your device), they could spend your Bitcoin. Also, if you lose the private keys by any other means, you lose all access to your cryptocurrency holdings.

A Bitcoin wallet app should allow you to easily exchange from crypto-to-crypto and even exchange your Bitcoin with fiat.

How to Choose the Right Bitcoin Trading App for You

There are hundreds of Bitcoin apps Australia to choose from, so you'll want to spend some time thinking about what your priorities are.

To help you along the way, below you will find the most important metrics that you need to cross off before choosing a Bitcoin account.

Safety

When it comes to selecting a Bitcoin app to trust, security should always be the top factor to consider. From the minute you deposit fiat currency in your exchange wallet to the moment you start trading, every step of the process has to be secure.

At first glance, it may not be easy to establish a crypto app’s level of security, but there are some things you can look out for. Your Bitcoin is only as safe as the method you use to store it. Therefore, it's crucial to choose a partner you can have faith, trust, and rely on — one that protects your private data and funds with the latest security standards, a professional security team, and, ideally, a recovery fund as a cherry on top.

With digital tokens and online providers, it is much easier for hackers to exploit a crypto provider’s weak points in an attempt to steal users' funds or data. So, when looking at crypto providers’ security standards, you should consider both Internet security standards and crypto standards.

Pricing

Depending on the type of Bitcoin app you are using, there will be different applicable fees. If you are buying the actual token then fees are the primary source of revenue for cryptocurrency exchanges. Every time you make a trade or transaction, you may have to pay a fee based on the exchange fee schedule. These fees do range and can of course add up depending on your deposit method also, as there can be charges for your credit/debit card deposits.

If you trade higher volumes, explore VIP programs that some Bitcoin accounts offer, to enjoy decreased fees as well as unique benefits within the platform.

When it comes to Bitcoin CFD trading, there will be either commissions and or spreads that are charged by the provider.
You will want to make sure that fees are competitive and make sense for your participation in the market.

Features

Global providers are often surrounded by an extensive ecosystem of supplementary products and services, including crypto debit cards, assets custody and protection, trading services, and other financial services designed to improve your crypto experience and provide additional earning potential.

Additionally, an ideal provider has to have a top-notch trading infrastructure, as well as a suite of reliable investing and earning products. On top of all this, your provider should also cover adequate educational support, including FAQs, articles, blogs, and more materials to aid you on your journey.

Bitcoin never sleeps. The cryptocurrency market is open 24/7, 365 days a year, non-stop. So at some point, you are going to require a form of support. Review the customer satisfaction and customer support feedbacks for the Bitcoin account provider to see if you can count on their team when you experience some issue. Explore for a provider that has 24/7 support alongside a high response speed and resolution rate.

Usability

You will be sure to accumulate hours looking at the interface of your selected Bitcoin account UK, so it’s a good idea to make sure you like the visuals and the user flow. Get the feel of the interface. Ensure it is intuitive and straightforward, be happy with the color scheme on your eyes.

Best Bitcoin App Australia - Conclusion

As we have covered throughout this guide, there are many Bitcoin apps in Australia. It is important to find one that is safe, offers market leading fees, and has solid customer service.

With that in mind, this guide has reviewed the best Bitcoin trading apps Australia you can use.

Frequently Asked Questions on Bitcoin Apps Australia