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
- eToro – Overall best Bitcoin app Australia (ASIC regulated)
- Avatrade – Best Bitcoin trading app Australia CFDs
- Coinbase – User-Friendly Bitcoin trading app Australia With Over 35 Million Customers
- Binance – Most popular Bitcoin trading app Australia provider
- Plus500 – Best Bitcoin trading app Australia with low fees
- Eightcap – Best MT4 Bitcoin trading app Australia
- Kraken – Leading Bitcoin trading app Australia with small initial investment
- Skilling – Top Bitcoin trading app Australia with tight spread and zero commissions
- 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 the Australia.
1. eToro – Overall Best Bitcoin App Australia (ASIC Regulated)
If you’re searching for the very best Bitcoin trading app Australia – look no further than eToro. This popular crypto trading app gives you access to Bitcoin and the eToro Money crypto wallet supports over 120 cryptocurrencies, you can change crypto to crypto, and facilitates on-chain address: transfer your Bitcoin and other cryptocurrencies anywhere on the blockchain, plus more.
eToro is a pioneer within the trading world, putting much emphasis on cryptocurrency. It supplies users with an easy-to-use trading app for investing in Bitcoin and other cryptocurrencies, with its great mobile wallet feature for trading and sending funds. It is the best Bitcoin app for iPhone and Android.
It is one of the safest Bitcoin trading apps in Australia, in addition to being the most cost-effective. Unlike the vast majority of crypto platforms, this super popular exchange is authorized and regulated by ASIC – as well as the FCA and CySEC.
Another solid feature of eToro is that it’s a social trading broker with unique copy trading tools, so you can easily copy the portfolios of top Bitcoin traders. These passive tools are a great option for complete newbies that are entering the crypto scene for the first time.
If you are mindful of a budget the eToro may just be the way to go, as the minimum Bitcoin trade on the platform is just $25. This means that you can gain exposure to the highly volatile cryptocurrency scene without needing to risk large amounts of capital.
One of the most appealing things about the app is that it’s commission-free. This means that you can trade your Bitcoin or other chosen digital currencies without needing to pay any fees. You will, however, need to pay a small 0.5% FX fee when you make a deposit. But, this is countered by the commission-free offering.
You can also add funds to your account with Paypal, Skrill, or Neteller. Once you go through the account opening process, eToro also gives you the option of trading Bitcoin passively. A big leader of available Bitcoin apps in Australia.
- Offers Bitcoin and 120+ cryptocurrencies
- Buy Bitcoin 100% commission-free
- More than 17 million people using the platform
- Accepts debit/credit cards, e-wallets, and bank transfers
- Minimum investment of just $25
- Supports copy trading to automate your Bitcoin trades
- Fully regulated in the Australia by the ASIC
- A small withdrawal fee of $5
- The platform operates in US dollars
68% of retail investor accounts lose money when trading CFDs with this provider.
2. Avatrade - Best Bitcoin Trading App Australia for leverage
It provides CFD trading with Bitcoin offering a leverage of up to 20:1. Alongside Bitcoin, they also offer a selection of other coins and tokens that can be top additions to the trading portfolio. They include Ethereum, Litecoin, Dash, IOTA, NEO, Stellar Lumens, Ripple, EOS, and Bitcoin Cash.
AvaTrade offers low CFD and competitive fees. With zero commissions, which means that the fees are included in the bid-ask spread. When it comes to non-trading fees, these are also considerably low as there are no deposit fees, withdrawal fees, or account fees.
Lastly, note there is an inactivity fee that is charged if no activity is shown or open trades for 3 months. AvaTrade charges 50$ 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.
- Well-regulated and trusted broker with oversight from a central bank
- High-quality educational offering
- Excellent choice of trading platforms catering to various trading needs
- Broad asset selection and cross-asset diversification opportunities
- Trading costs fair but not highly competitive
71% of retail investor accounts lose money when trading CFDs with this provider.
4. Coinbase – User-Friendly Bitcoin Trading App Australia
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.
- Over 35 million customers and a great reputation
- Very user-friendly
- Deposit funds with a debit card or via bank transfer
- Ability to withdraw your coins out to a private wallet
- Trustworthy big player to use
- 3.99% fee on debit card deposits
- 1.49% Bitcoin trading fee
5. 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.
- The largest cryptocurrency exchange in terms of trading volume
- Hundreds of Bitcoin pairs supported
- Trading commission of just 0.1%
- Supports debit/credit cards and bank transfers
- Great reputation in the cryptocurrency scene
- Ideal for advanced traders that seek sophisticated tools and features
- Not great for newbie investorsA standard charge of 2% on debit/credit card deposits
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.
eToro offers the Money wallet app to buy, sell and hold Bitcoin and another 120+ cryptocurrencies.
Bitcoin CFD Apps
These invovle 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.
Clients of eToro AUS Capital Limited, facilitate the following for Bitcoin CFD trading; non-leveraged BUY (long) crypto trades are secured with real assets. Currently, these trades cannot be transferred to the eToro Money crypto wallet. Leveraged and SELL (short) crypto trades are CFDs.
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. eToro’s Money crypto wallet supports this type of trading, with 120+ cryptocurrencies available. You can explore our best Bitcoin wallet app for further decision making on this point.
Best Bitcoin Apps Australia Comparison
|Australian Bitcoin trading app||Service||Fee for buying/selling Bitcoin|
|eToro||CFD bitcoin trading, exchange, wallet||0% Commission, 0.75% typical spread|
|Avatrade||CFD bitcoin trading||1.40% spread Bitcoin trading fee|
|Coinbase||Exchange, wallet, margin trading||1.49% Bitcoin trading fee|
|Binance||Exchange, wallet, margin trading||0.015% to 0.10% range for Bitcoin trading|
|Plus500||CFD bitcoin trading||1.40% spread Bitcoin trading fee|
|Eightcap||CFD bitcoin trading||1.30% spread Bitcoin trading fee|
|Kraken||Exchange, wallet, margin trading||1.50% Bitcoin trading fee|
|Skilling||CFD bitcoin trading||1.55% spread Bitcoin trading fee|
|Coinjar||Exchange, wallet||1% fee for Bitcoin trading|
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.
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.
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.
An ideal Bitcoin app should offer a wide variety of trading pairs, in addition to a wide variety of supported cryptocurrencies. We like eToro given its vast coverage of 120+ tokens available for trading. eToro is also one of the best stock trading apps offering real stocks on a commission-free basis, as well as CFDs.
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.
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.
How to Get Started with a Bitcoin App
Once you have selected the best Bitcoin trading app Australia for your needs, it's then time to go ahead and open an account with your chosen provider. By using our top-rated provider, eToro - you can buy crypto in less than 10 minutes from start to finish.
Here's what you need to do:
Step 1: Open a Crypto Trading Account at eToro
Unlike unregulated exchanges in the crypto scene - eToro is heavily regulated. As such, the provider requires you to go through a quick registration process before you can start trading cryptocurrency.
Once you click on the 'Create Account' button on the eToro homepage, you will be asked to provide the following information:
- Full Name
- UK Address
- Date of Birth
- UK Mobile Number
- National Insurance Number
- Email Address
eToro will send a PIN to your phone via SMS, which you will then need to enter to complete the registration process.
Step 2: Upload ID
An additional requirement that the ASIC has on regulated crypto brokers is that of the KYC (Know Your Customer) process. This simply means that eToro needs to verify your identity by collecting some documents from you.
As such, you'll be asked to upload the following two documents:
- Bank account statement or utility bill issued within the last 3 months
- Passport or driver's license
- eToro is normally able to verify the above documents as soon as you upload them.
Step 3: Deposit Funds
Once your account is confirmed and opened, you can start trading.
You can choose from the following payment methods:
- Debit/Credit Card (Visa, MasterCard, Maestro)
- Bank Transfer
Step 4: Buy Bitcoin
Once you find Bitcoin, which can be done via clicking the ‘Discover’ tab, then click ‘Crypto’ or you can find Bitcoin at the top of the page in the search bar click on the 'Trade' button. This will populate an order box like the image below.
All you need to do is enter the amount of cryptocurrency that you want to buy. This is always in US dollars on eToro and you will need to meet a minimum investment of $25.
Finally, click on the 'Open Trade' button to complete your commission-free cryptocurrency investment!
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. We concluded that eToro is the best option, as the app allows you to buy and sell Bitcoin commission-free as well as the best ETFs. Plus, eToro is regulated by ASIC and you will only pay 0.5% when you deposit funds with a debit/credit card, e-wallet, or bank account. It is also the Best app for bitcoin in terms of social trading and copy trading tools.
eToro - Best Bitcoin App Australia with Low Spreads and Copy Trading Tools
68% of retail investor accounts lose money when trading CFDs with this provider.