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Founded in 2013, Bitcoin.com.au is one of Australia’s oldest and most respected crypto exchanges. The first exchange in the country to introduce PayPal as a payment option, Bitcoin.com.au today serves over 450,000 Australians. It supports a curated selection of 37 cryptocurrencies, and offers an easy-to-use and navigate interface for crypto beginners, as you’ll see in this Bitcoin.com.au review.
If you decide to join Bitcoin.com.au, you will get $20 worth of BTC by signing up using our link. Enter crypto with a head start or read on to learn more about the platform’s features, trading capabilities, fees, payment methods, and more.
Our Verdict on Bitcoin.com.au
Bitcoin.com.au is one of Australia’s oldest crypto exchanges and the first to have introduced PayPal as a payment method. It’s a straightforward exchange that supports trading 37 cryptos and allows users to create different types of trading accounts, like company and trust accounts.
It lacks advanced trading tools or services like derivatives, margin trading, or NFT storage and trading. However, its existing features cover most of the everyday needs of users, especially considering how user-friendly the platform is.
Most importantly, the platform is known for security. It’s registered with AUSTRAC, ISO 27001 certified, and keeps custody over funds in separate accounts. Moreover, Bitcoin.com.au keeps a 1:1 reserve of user fiat and crypto funds, while as much as 97% of crypto is kept in cold storage.
Bitcoin.com.au Crypto Exchange Review: Summary
Bitcoin.com.au is one of Australia’s oldest and most trusted crypto exchanges, known for its strong security standards, beginner-friendly interface, and support for local banking methods.If you’re considering buying Bitcoin in Australia for the first time, this guide will help you understand if users trust Bitcoin.com.au and how to get started quickly.
What is Bitcoin.com.au?
Bitcoin.com.au is an Australian-based crypto exchange. It offers you the chance to buy crypto for AUD, trade it on the platform, withdraw it, and sell it for AUD. It supports 37 cryptocurrencies, including BTC, ETH, USDT, SOL, USDC, LTC, and DOGE. Here are some of the key highlights:
- Owner: Independent Reserve
- Founded: June 2013
- License: AUSTRAC
- Certifications: ISO 27001
- Number of users: 450,000+
- Type of exchange: Custodial CEX
- Supported cryptocurrencies: 37, including BTC, ETH, and USDT
- Deposit methods: Bank transfer, PayID, Visa, Mastercard, PayPal, OTC, crypto
- Withdrawal methods: Bank transfer
- Fiat currencies: AUD
- Features: 1:1 reserves, Crypto Tax Calculator, multi-user accounts, SMSF accounts, trust accounts, company accounts
- Mobile app: iOS and Android
- Trading fees: Flat 1%
Australian Rupert Hackett founded the platform in 2013, which makes it one of the oldest in the country. In 2023, it was sold to Independent Reserve, an Australian private company and crypto exchange, for $3 million. Later in the same year, it partnered with PayPal, allowing users to buy crypto with PayPal, becoming the first exchange in the country to do so.
The Bitcoin.com.au exchange perfectly balances simplicity with security, which is a key reason we recommend it as one of the top choices for newcomers who are learning how to buy Bitcoin in Australia.
Bitcoin.com.au Pros & Cons
Pros
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Receive $20 worth of BTC when registering through our link and starting to trade
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One of Australia’s oldest and most reputable crypto exchanges
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First Australian exchange to offer PayPal deposits
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Supports 37 major cryptocurrencies, including BTC and ETH
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Multiple account types, including business accounts
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1:1 asset reserves with 97% stored in cold wallets
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Free withdrawals for standard bank transfers
Cons
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No derivatives or margin trading for advanced traders
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Flat 1% trading fee is higher than most competitors
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Customer support limited to ticket submissions
Bitcoin.com.au Exchange Review: Products & Services
As you’ve likely guessed so far from our review of Bitcoin.com.au, the platform is a centralized crypto exchange. It’s designed to allow the exchange of 37 cryptocurrencies for AUD.
It’s not an all-round crypto trading platform like some bigger names, and it doesn’t offer more advanced features and tools like futures, staking, or broader DeFi services. However, it does offer Australians the chance to open different types of accounts. Besides a personal account, you can open a multi-user, trust, SMSF (Self-Managed Super Fund), or company account.
Like most CEXs, it comes with a non-custodial Bitcoin.com.au wallet for storing crypto funds. It’s connected with the exchange, and the funds in it are held in custody by the platform, but they are separate from the company’s own funds in cold storage and protected by a 1:1 reserve fund.
Bitcoin.com.au has partnered with Crypto Tax Calculator (CTC), Australia’s leading crypto tax tool. You can get a 30% discount on an annual subscription through Bitcoin.com.au and use CTC’s services to simplify your crypto tax reporting and avoid doing it on your own.
What Cryptocurrencies Can You Trade on Bitcoin.com.au?
Even though the total number of supported cryptocurrencies isn’t particularly high compared to some of the other best Bitcoin exchanges in Australia, Bitcoin.com.au still supports a sufficient number of cryptocurrencies, 37 in total.
The important thing is that you can buy Bitcoin on Bitcoin.com.au, as well as most other major coins that most traders want to get.
This includes a good deal of both major cryptocurrencies and popular altcoins, including:
Bitcoin.com.au Fees
As you’ll see from many user-made Bitcoin.com.au reviews, the platform’s fee schedule is decent, sitting at a fixed 1% with no hidden costs. There are no maker or taker fees, and no tiered model typical of other platforms. Whenever you buy or sell any cryptocurrency, you always pay 1% to Bitcoin.com.au.
For instance, compared to Binance, the biggest exchange on the planet, this system could result in lower fees, since regular, non-VIP users pay 0.1%, which is the fee for both makers and takers. The fees get progressively lower depending on your VIP level.
However, compared to a site with a flat fee model, eToro has identical trading fees as highlighted in our eToro review. However, eToro charges an additional 2% for transferring your crypto to the eToro Money crypto wallet, which is necessary for managing your crypto, which technically makes eToro the costlier solution.
As for depositing fiat on Bitcoin.com.au, you don’t have to pay a fee, unless you’re using international debit or credit cards, in which case the fee is 3.5%.
Withdrawals are free if you’re using a bank transfer, which is not common for a crypto exchange. However, there’s a fixed $1.50 fee for using PayID/NPP instant.
Also, if you want to withdraw crypto, there’s always a fee to pay to the platform, but it varies depending on the crypto you’re withdrawing.
| Trading fees | Flat 1% |
| Deposit fees | Free for bank transfer, PayID, bank cards, PayPal
3.5% for international bank cards |
| Withdrawal fees | Free for bank transfer
$1.50 for PayID/NPP instant |
| Crypto withdrawal fees | 0.0002 BTC 0.005 ETH 0.001 SOL 10 USDC (ERC-20) 10 USDT (ERC-20) 0.15 XRP 0.5 ADA 0.0001 BCH 5 DOGE 0.1 DOT 7 MATIC |
User Experience: Is Bitcoin.com.au User-Friendly?
Unlike complicated trading platforms that deal with derivatives and NFTs, Bitcoin.com.au focuses on being a straightforward exchange. This means that its platform is straightforward, and unlike some of its competitors, remarkably user-friendly.
The design features neatly organized categories, making almost everything easy to find. Even the verification part is easy to understand, which makes completing the necessary KYC steps a breeze.
Its simple and transparent interface makes it a beginner-friendly platform, welcoming new users with reliable support, easy deposit methods, and no hidden fees.
Bitcoin.com.au App UX
The site itself is mobile-friendly, but you also have the option to use the app. The Bitcoin.com.au platform offers apps for both iOS and Android devices. They are effectively the same in design, offering a very straightforward experience, one you’d expect from a crypto exchange on your phone.
The app follows the same security practices as the website, so you don’t have to worry about the security of your digital funds. Moreover, every functionality from the desktop version is available here, allowing you to use the platform just as you would the site.
Features & Tools
Bitcoin.com.au is a simple crypto trading platform with no significant features or advanced trading tools. There are no different types of orders, derivatives trading, staking, or an NFT marketplace.
Buy/Sell
The platform’s main feature is the minimalist Buy/Sell service, where you can trade one of the 37 cryptos the brand covers. Next to the feature is a live price chart so you can check the momentum and direction of the crypto you’re buying.
Dashboard
Bitcoin.com.au offers a dashboard where you can follow the value of your entire portfolio through charts. You also get a breakdown of all your assets and recent price changes. The dashboard is also the place where you can get tax reports if you’ve started using the Crypto Tax Calculator.
Reports
Besides a section with a full history of your transactions, Bitcoin.com.au also boasts reporting capabilities. You can create a report on your transaction history, holdings, and order history, in either PDF or CSV format.
Bitcoin.com.au Wallet
The Bitcoin.com.au crypto wallet is a standard custodial and embedded wallet that most CEXs today offer. This means that all the funds you deposit to the platform, including the crypto you purchase and hold there, are in the custody of Bitcoin.com.au.
It’s not the preferred method for crypto fans to store their crypto assets, but it’s necessary for centralized exchanges. From the exchange wallet, long-term investors can easily transfer larger holdings to their own non-custodial wallet for safekeeping. If choosing this option, make sure you pick one of the best decentralized crypto wallets on the market.
But if you choose to keep them on Bitcoin.com.au, the funds are fully protected by the platform’s certified security. The exchange keeps your funds segregated, and it never uses them for lending, trading, or reinvesting. In other words, Bitcoin.com.au only keeps custody of them.
In the Bitcoin.com.au wallet itself, you can overview your portfolio in a simple dashboard, showing you all your holdings on Bitcoin.com.au. You get a clear separation of crypto and fiat holdings, without excess clutter or distracting features.
Deposits & Withdrawals
Bitcoin.com.au lets you deposit funds and withdraw them in Australian dollars (AUD), using several reputable payment methods. These include bank transfer, PayID, credit and debit cards, PayPal, and OTC. For withdrawals, you can use either bank transfer or PayID/NPP instant.
You are also free to deposit or withdraw crypto. If you already have a crypto wallet, this process is the same as transferring crypto from one wallet to another.
If you use bank transfers or PayID, you can deposit up to $40,000 a day. Credit, debit card, and PayPal deposit limits depend on the user. If you opt for OTC, you can trade anywhere from $50,000 to over $50 million. However, you’ll need to contact customer support to register for OTC trading, and the brand’s OTC desk is open 9 AM to 8 PM on work days, Sydney time.
Deposits are effectively instant, while withdrawals are usually handled within a day, with the funds arriving in your bank account the following business day.
| Payment method | Maximum deposit | Maximum withdrawal | Withdrawal time |
| Bank transfer | Up to $40,000/day | No limit | Next business day |
| PayID | Up to $40,000/day | $200,000/day | Next business day |
| Visa and Mastercard | User-specific | N/A | N/A |
| PayPal | User-specific | N/A | N/A |
| OTC | $50,000 to over $50 million | N/A | N/A |
| Cryptocurrency | Depends on crypto | Depends on crypto | Instant or up to 20 minutes |
How Secure is Bitcoin.com.au?
So, is Bitcoin.com.au legit? The answer is a resounding yes. The exchange is one of the oldest in Australia and is fully Australia-made. It’s created by and for Australians, which is why it’s entirely geared toward Aussies.
Most importantly, it adhered to AUSTRAC regulations (Australian Transaction Reports and Analysis Centre), the agency responsible for overseeing businesses to determine whether they follow AML/CTF regulations. Additionally, it’s ISO 27001 certified.
Regarding account security, Bitcoin.com.au offers both 2-Factor Authentication via Google Authenticator and an SMS backup. You can also receive emails for each login made and review previous logins to see if someone else managed to get in.
With Bitcoin.com.au being the custodian of all funds on the platform, it’s good that they keep 97% of all crypto in cold storage. Moreover, all fiat and crypto funds are backed by a 1:1 reserve, while third parties constantly audit the platform.
Customer Support
The Bitcoin.com.au customer support is available round the clock, but only through a ticketing system. You can send and review your messages on the site, and also access the FAQ section.
The FAQs are very detailed, so you’ll likely find answers to common problems here. Interestingly, the portal for registered members and the default Bitcoin.com.au have separate FAQs, so it’s always good to check both.
Account Types
Bitcoin.com.au offers a few different types of accounts, besides a standard personal account. Here’s an overview:
How to Use Bitcoin.com.au
Using Bitcoin.com.au is very simple, even for first-timers. We’ll guide you through the onboarding process and show you how to make your first purchase in just a few clicks.
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Sign Up
Visit the official Bitcoin.com.au website and start the registration procedure. Provide an email address and create a username and password. Tick the T&C box and complete the process. Before reaching the Bitcoin.com.au login page, activate your account through the automatic email you’ve received.
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Choose Account Type (and Fill in the Details)
Back on Bitcoin.com.au, you’ll get the option to choose between four account types. If you’re here for a personal account, just click on Personal to proceed. Add your full name and birthdate. Then add your complete address.
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Complete Verification
The site will continue with the KYC process to verify your personal info, starting with verifying your phone number. It’s best to proceed with all of the following KYC steps to verify your identity, as you have to complete them to deposit and trade. You’ll need to verify your age and identity with a photo ID, such as a Driver’s License, and your address with a utility bill or bank statement. You’ll also have to provide a selfie. Then add your source of income and complete the verification.
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Deposit and Start Trading
To deposit, visit the Wallet section and choose the Quick Deposit section. You’ll only need to select the method, provide the details, and complete the transfer. The funds should arrive quickly.
To trade, visit the Buy/Sell section and pick a coin. Add the amount, double-check everything, especially the price, and complete the trade. Once the blockchain completes its verification, you’ll get the crypto in your Bitcoin.com.au wallet. You can use the recurring buy feature to set up a long-term investment strategy like dollar-cost averaging.
Selling Coins on Bitcoin.com.au
Selling coins is the same as buying them; you just use the opposite function in the same spot. So, choose the Sell option, select the crypto, enter the amount you want to sell, check the price and fees, and complete the process. Once you sell your coins, you’ll get the AUD funds deposited to your Bitcoin.com.au wallet.
Withdrawing Funds on Bitcoin.com.au
You can withdraw either AUD or crypto through your Wallet, where each holding has a Withdraw button to start the process.
Withdrawing AUD can be done either through bank transfer or PayID/NPP instant. You only need to select the option, enter the amount, and complete the transaction.
If you want to withdraw cryptocurrency, click Withdraw next to the coin you want to take out of the platform, add your wallet address, enter the amount, double-check everything, and complete the transaction. Processing is largely automatic, so you only need to wait for the blockchain to confirm the transfer before the coins appear in your crypto wallet.
Our Bitcoin.com.au Review Methodology
To create this Bitcoin.com.au review, we employed the tried and proven analysis method that we use at 99Bitcoins for other exchanges and crypto trading platforms. In essence, we focus on reviewing the same aspects of a crypto exchange that enable us to compare these platforms.
We focused on the exchange’s features, trading capabilities, fees, registration process, and security. Naturally, we’ve taken into account that Bitcoin.com.au is a fully Australian crypto platform, made by Australians and for Australians. We’ve also based our recommendation on the unique aspects the platform boasts.
While our review is based on years of experience, encompassing everything from fundamentals and consumer protections to compliance checks and user reports, it should not be considered investment advice. Always do your own research and seek professional advice before investing your own money.
Bitcoin.com.au Review Australia: Final Verdict
Although limited in scope compared to the major players, Bitcoin.com.au remains an excellent, beginner-friendly crypto exchange for Australian cryptocurrency investors. It’s fully optimized for the Australian market and made by Australians. Additionally, it offers various account types, features transparent fees, and simplifies reporting and tax payments through its partnership with the Crypto Tax Calculator.
More than that, if you decide to register with our link, you’ll receive a bonus of $20 worth of free Bitcoin as soon as you complete the signup process, deposit, and start trading.
Visit Bitcoin.com.auBitcoin.com.au Exchange
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Pros
- Easy use and navigation
- PayPay deposits available
- Diverse account types
- 1:1 reserve and 97% cold storage
- $20 bonus for new users
Cons
- No advanced trading tools
- Limited trading pairs
FAQs
Is Bitcoin.com.au safe?
Yes, Bitcoin.com.au is a secure and fully licensed Australian crypto exchange. It’s registered with AUSTRAC, ISO 27001 certified, and most importantly, it maintains a full 1:1 reserve of all user fiat and crypto assets. It’s also regularly audited by external firms to ensure safety and compliance with Australian Accounting Standards.
What is the best site to buy Bitcoin in Australia?
There’s no single best site for buying Bitcoin. Bitcoin.com.au fits the profile, like several others, primarily because it’s fully Australian with an Australian license, making it a completely secure crypto exchange.
Who owns Bitcoin.com.au?
The owner of Bitcoin.com.au is another Australian-based crypto exchange called Independent Reserve, which is similar to Bitcoin.com.au but operates in 36 countries. Independent Reserve purchased Bitcoin.com.au in 2023 from Banxa.
How to withdraw money from Bitcoin.com.au?
To withdraw funds, you need to visit your wallet on the platform and click on Withdraw next to AUD or the crypto you wish to withdraw. Then simply follow the instructions to complete the transfer, as seen in this Bitcoin.com.au review.
How to verify on Bitcoin.com.au?
Besides verifying your email and phone number, you’re legally required to verify your identity. You’ll need to provide a photo ID, such as a Driver’s License, and proof of address, like a utility bill. The process is safe and automatic, and you can have it done in minutes.
References
- Australian Crypto & Bitcoin Exchange – Easy & Secure | bitcoin.com.au (Bitcoin.com.au)
- Crypto exchange buys Bitcoin.com.au brand for $3m (Australian Financial Review)
- Sydney Swans and bitcoin.com.au extend partnership (Sydney Swans)
- Crypto asset investments (Australian Taxation Office)
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