If crypto exchanges like Binance intimidate you so much so you refuse to buy Bitcoin, Australia has an exchange that might suit your fancy. Bitcoin.com.au takes the minimalist approach, removing the complexities of crypto for no-frills, no-fuss trading.
It’s straightforward. Purchase popular cryptocurrencies with AUD, trade or store them, and manage your finances in accordance with Australian regulation. This is one of the user-friendliest crypto exchanges we’ve found — but is it a little too bare-boned?
To answer this, we dug deeper and tested the platform ourselves. In this comprehensive Bitcoin.com.au review, we’ll share what we found — and love — about its functionality and security.
What is Bitcoin.com.au Exchange?
Bitcoin.com.au is a centralized Australian Bitcoin exchange established in 2013 and acquired by Independent Reserve in 2023. Since its inception, it’s grown to 450,000 active traders, accommodating retail and institutional customers.
It’s not to say the exchange is lacking. Users get a strong lineup of useful features, including simplified crypto charts, easy AUD on and off-ramping, a selection of 30+ major cryptocurrencies to invest in, and hot wallet storage.
Bitcoin.com.au Pros and Cons
Bitcoin.com.au is a nifty and refined Australian Bitcoin exchange that’s bound to remove the overwhelm of bigger, more complex platforms. When we tested it, we found it shines in user-friendliness and security, but might leave some traders wanting more. Here’s what to keep in mind before you give it a try.
Pros
- Simplified trading dashboards
- AUSTRAC and ISO compliant
- Free deposits for all Australian payment methods
- Minimum purchase is only $1 AUD
- Multi-user account management
- $20 AUD Bitcoin sign-up bonus
Cons
- No spot market, futures trading, or staking support
- Limited cryptocurrencies
- Only available to residents of Australia
- Higher fees for international deposits
Bitcoin.com.au Exchange Key Features
Since it’s not as complex as larger exchanges, like Binance or Kraken, we took a walk in a pair of crypto beginner shoes for this Bitcoin.com.au review.
To keep things unbiased — and to give the platform a fair chance — we paid extra attention to what it excels at, not what it seemingly lacks. Here’s what made our favorites list.
Multiple Fiat Payment Options
Bitcoin.com.au makes it simpler than ever to buy Bitcoin in Australia. When we say on-ramping and off-ramping are as easy as ABC, we mean it.
For those who want to go big or go home, and would like to cut out the middle man entirely, Bitcoin.com.au offers OTC trading to investors buying $50,000 AUD or more (into the millions and beyond) worth of crypto.
Buy/Sell 30+ Cryptocurrencies
Not everyone wants to buy bottom-of-the-barrel crypto, and likewise not everyone wants to buy Bitcoin. Australia is one step ahead in this as well. Bitcoin.com.au only lists in-demand coins.
This includes the giants like $SOL and $ETH, popular altcoins like $XRP and $AAVE, meme coins like $DOGE and $PENGU, stablecoins (including $USDT), and a few others you might have interest in.
Sure, it’s not a laundry list, and some traders might dislike this low asset selection. But in our opinion, it’s not a sign of incompetence, but rather a testament to quality over quantity. The better the coin, the more likely you are to gain, right?
Free, Integrated Wallet
You’d think any crypto exchange worth its salt would have this feature, but it’s not always the case. Many exchanges require you to connect a third-party wallet, which sometimes incurs extra fees on your side and introduces extra steps for every action.
The hot wallet’s private keys are geographically partitioned for ultra-secure multi-layer encryption, and Bitcoin.com is the sole custodian of all crypto assets on the platform. Assets are handled and managed exclusively within Australia, and the platform promises to never trade, lend or reinvest your funds.
Multi-User Accounts
Bitcoin.com.au’s multi-user management lets you collaborate with friends, family, or trading partners. You can assign each person a role, which will define how many privileges they have.
- Viewer: Can see account activity but can’t transact
- Trader: Can buy and sell crypto but can’t withdraw funds
- Trader with restricted withdrawals: Can only send funds to pre-approved accounts
- Trader with withdrawals: Can request withdrawals to any account, even new ones
- Administrator: Has unrestricted access to everything except PayPal and credit card deposits.
This is handy if you’re trading with a team. You can invite others to your war room, but still control who gets to press the big red button. Businesses can request a company account, too.
SMSF and Trust Accounts
If you’d like to finance your retirement fund with crypto or save some Bitcoin for your dependents, all you need to do is register your Self-Managed Super Fund (SMSF) or Trust account.
Both instances require extra verification, but the process is straightforward and quick. You’ll have to submit documentation, including your ID, proof of SMSF or Trust administration, recent proof of address, and a photograph. Verification takes up to two days — a small price to pay for full control of your future funds.
Discounted Crypto Tax Calculator Access
According to Australian tax regulation, you don’t have to pay tax on crypto you buy or hold, but once you earn profit from selling or trading it, it could be subject to capital gains tax.
Crypto Tax Calculator helps traders stay compliant. If you sign up for a first-time account through Bitcoin.com.au, you’ll get 30% off your first year.
Then, your activity on Bitcoin.com.au will automatically sync with your calculator for seamless book balancing.
Cross Compatibility
Again, a mobile app is something you’d expect, but not all crypto exchanges have one. Sometimes when they do, mobile functionality is limited. Fortunately, this isn’t the case with Bitcoin.com.au.
There is little difference between its desktop and mobile versions, and you can access the full suite of features on either. Both are optimized for ease of use and quick fiat on-ramps.
The only drawback is that the mobile app is not available outside of Australia.
Bitcoin.com.au Crypto Exchange Security
We can confirm what you see is what you get, but we had another question in our test run: Is Bitcoin.com.au safe? We dove deep into the company’s history, track record, and specs to make sure its security is up to scratch.
The short answer is yes. Bitcoin.com.au is a legitimate crypto exchange with strong security measures in place. But, to verify this, we also did a deep dive into its parent company, Independent Reserve.
We couldn’t find any evidence of security breaches, lawsuits, or investigations for either brand, although Independent Reserve was one of the crypto exchanges targeted in a 2024 scam operation.
More than 2,000 accounts were compromised across numerous exchanges, including Binance, OKX, SwyftX, and a few others. The scam was discovered and stopped, and Independent Reserve hasn’t had any other incidents.
It’s also worth noting that Independent Reserve is trusted by industry authorities, including Bloomberg, Chainalysis, and the Digital Economic Council of Australia.
Compliance Certification
Bitcoin.com.au is registered and in good standing with AUSTRAC (Australian Transaction Reports and Analysis Centre), the anti-money laundering regulators Down Under. The organization has a specialized cryptocurrency task force that oversees blockchain and exchange safety compliance.
On top of this, Bitcoin.com.au has ISO (International Organization for Standardization) 27001 certification. This means it has satisfactory data protection protocols in place, verified by third-party audits.
KYC Verification
You’ll have to complete the Bitcoin.com.au identity verification process before you can buy or sell assets. All applicants must provide photo ID (either a driver’s license, Proof of Age card, or passport), and proof of address.
This ensures everyone using the platform is who they say they are, and deters potential scammers and con artists. Bitcoin.com will store your documents, but only privileged administrators have access to these files. They are also watermarked to prevent misuse.
1:1 Reserve
For each token it holds, Bitcoin.com.au has the equivalent amount in real, verifiable assets, so your crypto is backed by 1:1 reserves.
Bitcoin.com.au is the sole custodian of all of its assets, and segregates customer funds so your money will never go to anyone else’s wallet and will always be available for withdrawal.
Cold Wallet Storage
Online trading is convenient, but it comes with some risks. Since your accounts require an internet connection, they’re susceptible to cyberattacks. Credible exchanges, like Bitcoin.com.au, have protections in place to prevent this — but breaches are still possible.
Cold wallets store your crypto assets offline so they can’t be hacked, hijacked, or hotwired. In Bitcoin.com.au’s case, 97% of customer assets are stored in dispersed, guarded offline vaults.
Encryption
Bitcoin.com.au doesn’t specify which type of encryption it employs, but since it is ISO 27001 compliant, we have it on good authority that its encryption protocols are up to standard. The exchange encrypts all your communications and your hot wallet.
Continuous Monitoring and Automated Shield Bots
Your money and account are safeguarded behind the scenes as well. Bitcoin.com.au employs a variety of safety precautions and protocols, including:
- Continuous intrusion detection monitoring
- Frequent penetration testing
- Automatic shield bots for brute force protection
- Annual third-party audits
- Tiered and audited administrator access
- Bug bounties to incentivize security reports
Whitelisting and Restricted Access
You can control who can receive funds from you by whitelisting trusted addresses.
On top of this, Bitcoin.com.au implements extra verification for login attempts from different IP addresses, and restricts instant withdrawals for 72 hours after account changes. These measures add an extra layer of protection in the event of unauthorized access.
Two-Factor Authentication (2FA)
To top it off, you can set up two-factor authentication(2FA) to be extra certain that you’re the only person who can access your account and wallet.
Each time you log in or change your account details, you’ll have to verify your session with your email, phone number, or Google Authenticator. You’ll also receive notifications every time your account is accessed or changed.
Bitcoin.com.au Fees – Is It Worth the Money?
One criticism Bitcoin.com.au gets is that its 1% trading fee is higher than on larger, more advanced exchanges. Coinspot, which claims Australia’s lowest crypto fees, charges 0.1% on all market and OTC trades.
The 1% fee applies to all trades, regardless of currency. Fiat deposits are free with all payment methods, except international credit or debit cards (3.5%). Fiat withdrawals are free if it’s a bank transfer, and cost $1.50 AUD if it’s PayID or NPP Instant.
As for crypto, it depends on the coin. Bitcoin withdrawals cost 0.0002 $BTC, Ethereum costs 0.005 $ETH, and Solana withdrawals cost 0.001 $SOL.
Since there’s no order book, futures trading, staking, or VIP tiers, you pay the 1% fee on all transactions indiscriminately and can more easily control your spending.
The minimum deposit is only $1 AUD. By the way, you get $20 AUD worth of free Bitcoin when you make your first trade.
Is Bitcoin.com.au Exchange Easy To Use?
Our tests confirmed Bitcoin.com.au is streamlined and user-friendly. It’s easy to set up, works well on desktop and mobile devices, and is an excellent tool for novice traders. Transactions are fast, and we like the variety of payment options.
This means you can trade right off the bat, without first deciphering what you’re dealing with. Buying crypto is almost instant; simply input your amount, preferred currency and payment method, and you’re in. It also displays Bitcoin’s price change over time in a sleek, easy-to-read chart.
Still, it’s not without flaws — or at least considerations. For one, you can’t trade without KYC verification. The approval can take anywhere from a few hours to a couple of days. We don’t necessarily consider this a drawback, but if you are looking for a platform you can start trading on immediately, you’ll have to keep this in mind.
For another, Bitcoin.com.au does not have 24/7 live support. It’s not a dealbreaker, as it does have standard email support, but it would have been nice to have.
Then, depending on your trading style, you might find Bitcoin.com.au to be a little too user-friendly. Its minimalist interface and simplistic utility are highly appealing to novices, but expert traders might be underwhelmed by its features.
How Does Bitcoin.com.au Compare to Other Crypto Exchanges?
Australians have more than a few crypto exchanges to choose from, and with stringent regulations in place, credibility is almost guaranteed . How does Bitcoin.com.au fare against its competition? We weighed them up.
| Wallet | Top Choice For | Asset Support | Markets | Fees | Standout Features |
| Bitcoin.com.au | Ease of use | – 1:1 reserve – 30+ currencies including $BTC and $ETH |
Spot | – 1% on all trades – Free deposits for local methods – 3.5% on international card deposits – Varying crypto withdrawal fees |
– Simplified interface – Multi-user management – SMSF, Trust, and Business accounts – AUSTRAC and ISO compliant |
| Independent Reserve | Security | – $1 billion AUD total assets – 1:1 reserve – 30+ currencies including $BTC and $ETH |
Spot, margin | – 0.5% starting fee – Free deposits and withdrawals |
– Company, institutional, and trust accounts – OTC trading – Partnered with DEC Australia – AUSTRAC and ISO compliant |
| Bybit | Accessibility | – $31 billion+ total assets – 500+ tokens |
Derivatives, spot, margin | – Standard 0.1% maker/taker fee – As low as 0.03% maker, 0.045% taker for VIPs – free P2P trades |
– TradeGPT – TradingView analytical suite – Advanced trading bots |
| Binance | High volume trades | – $187 billion+ total assets – 1:1 reserve – 350+ tokens |
Spot, derivatives, margin, P2P | – 0.1% standard maker/taker fees – As low as 0.011% maker, 0.023% taker for VIPs |
– Native $BNB token – Binance Launchpool – Binance Pay |
| KuCoin | Expert traders | – $5 billion+ total assets – 1:1 reserve – 1000+ coins |
Spot, margin, derivatives, P2P | – 0.1% standard maker/taker fees – As low as -0.005% maker, 0.025% taker for VIPs |
– Native $KCS token – Margin High Frequency Account – Pre-market OTC trading |
You can’t go wrong with Bitcoin.com.au if you’re new to trading. Its functionality is perfect for traders who simply want to buy, sell, or hold crypto without participating in the hullabaloo of the order book. We also recommend it if you want a free, mobile-friendly wallet.
That said, it might not be the right pick for you if you’re a serious trader who needs tools to match. We recommend Binance if you’re a high-volume trader, and KuCoin if you’re after advanced tools and DeFi services.
Bitcoin.com.au Exchange’s Reputation – What Are People Saying?
Once we tested Bitcoin.com.au’s ins and outs, our next step was to see if customers shared our sentiments. We were particularly interested in what users had to say about the exchange’s ease of use, security, and credibility.
Many users compliment Bitcoin.com.au’s beginner-friendly design. One happy Trustpilot reviewer expressed appreciation that it’s not intended for master traders.
Another mentioned ease of use, and also touched on Bitcoin.com.au’s helpful support — which is good to know, considering it’s not live or 24/7.
We also noticed many satisfied customers appreciating Bitcoin.com.au’s proof of trust. The user below praised their audits and said they had no trouble with the service.
Of course, not all customers are pleased. We took a look at the negative feedback and determined most dissatisfied users are unimpressed with transfer times.
The user below wrote a stern complaint concerning the platform’s manual transaction reviews.
We also stumbled upon this excited reviewer who seems to have mistakenly given Bitcoin.com.au a low score.
Overall, reviews are a mixed bag, though it must be said that a lot of the negative reviews were due to user error. In our experience, Bitcion.com.au is an excellent platform, and many customers agree.
How to Use Bitcoin.com.au – A Step-By-Step Guide
Now that you know what Bitcoin.com.au is and what makes it so great, it’s about time we showed you how to get started with it. If you’re interested in setting up an account, follow these steps, and you’ll be trading in no time.
Step 1: Visit Bitcoin.com.au
Go to Bitcoin.com.au’s official website with your browser, or download the app from the App Store or Google Play.
Step 2: Create an Account
On desktop, click on Sign Up in the upper left corner, or click ‘Get started in minutes’. You can’t miss it.
Step 3: Complete the Sign Up Form
Pick a username (it’s recommended you don’t make this the same as your email), add your email address, and choose a strong password. Don’t forget to add your referral code if you have one.
Once you’ve read Bitcoin.com.au’s terms of service, check the box to consent. Then, click ‘Create your account securely’ to get started.
Step 4: Get Verified
Once you’ve confirmed your account, the final step is to apply for KYC verification. You won’t be able to trade if you skip this step. You’ll need photo ID and proof of address, plus proof of administration if you’re applying for a trust, company, or SMSF account.
Select your preferred account type, then fill in the quick form with your personal details and documents.
Follow the prompts to complete your verification. Once you’ve submitted your application, Bitcoin.com.au will let you know if you’ve been approved as soon as possible. It usually takes a few hours, but in some cases it might take a day or two.
Once you’re verified, you can go ahead and make your first deposit and claim your free $BTC. Happy trading!
Bitcoin.com.au Review – Our Verdict
Bitcoin.com.au is an impressive exchange, but its value lies in its simplicity rather than its features.
Expert traders aren’t excluded, and might appreciate how direct Bitcoin.com.au is. It’s a nifty exchange if you simply want to get the job done, though you might miss more advanced features, like staking, spot markets, analytics, and DeFi services.
Don’t forget its security — some of the best Australia can offer. It’s ISO 27001 and AUSTRAC compliant, enforces KYC for all users, and guards your assets in dispersed cold wallets.
We did our due diligence in testing this exchange, but we are not financial advisors and you should always do your own research before you commit to any crypto service. That said, we like what we see, and recommend you give Bitcoin.com.au a try if you’re just getting started or need a simplified, no-frills exchange.
FAQs
1. Is Bitcoin.com.au safe?
Yes. Bitcoin.com is ISO 27001 compliant and third-party audited to ensure security and customer data protection. It’s also registered and in good standing with AUSTRAC, Australia’s anti-money laundering and fraud regulator.
2. What crypto does Bitcoin.com.au exchange support?
Bitcoin.com.au supports 30+ cryptocurrencies, including Bitcoin and Ethereum. You can also trade popular altcoins like $XRP and $SOL, meme coins including $DOGE and $PENGU, and stablecoins.
3. Is Bitcoin.com.au legit?
Yes. Bitcoin.com.au is registered and compliant with ISO and AUSTRAC. It’s a subsidiary of Independent Reserve, a crypto exchange lauded for its credibility by Bloomberg, the Digital Economic Council of Australia, and other leading financial authorities.
4. What is the best website to buy Bitcoin in Australia?
Bitcoin.com.au is the best Australian bitcoin exchange for beginner traders. It has a simple and easy-to-understand interface, cross-compatibility between desktop and mobile, and a variety of AUD on-ramping and withdrawal options. It’s also KYC-compliant and only verifies Australian residents.