Australia has emerged as one of the most dynamic cryptocurrency markets globally, with approximately one-third of the population holding digital assets. Bitcoin (BTC) dominates this space, held by 70% of Australian crypto investors. As the country leans into the possibilities of blockchain technology, lawmakers continue exploring how to integrate crypto further into the mainstream economy.
In this comprehensive guide by Ledger Academy, we’ll explore how to buy, sell, and safely store cryptocurrencies in Australia, including mining, legal status, taxation, and NFTs.
How to Buy Bitcoin and Crypto in Australia
Buying crypto in Australia is straightforward once you understand the process. The most common way to purchase Bitcoin is through a centralized exchange using Australian dollars (AUD).
Step-by-Step Guide to Buying Crypto
- Choose a Crypto Exchange
Some popular exchanges in Australia include CoinSpot, Swyftx, and CoinJar. - Register and Complete KYC
Provide personal details such as name, address, and a government-issued ID (passport or driver’s license). A bank statement or utility bill is also needed as proof of address. - Deposit AUD
You can fund your exchange account via bank transfer, credit/debit card, PayPal, or BPAY. - Buy Your Crypto
Once funded, select your preferred cryptocurrency—Bitcoin (BTC) and Ethereum (ETH) are top choices.
Additionally, crypto ATMs are available in cities like Sydney, Melbourne, Brisbane, Perth, and Adelaide.
Secure Storage for Your Cryptocurrency
Why Self-Custody is Important
Leaving crypto on centralized exchanges or software wallets can expose you to hacks. A notable example is the November 2023 CoinSpot hack due to a compromised software wallet.
Best Solution: Hardware Wallets
To ensure your assets are secure, use a hardware wallet like Ledger Stax or Ledger Flex, which stores your private keys offline, away from cyber threats.
Buy Crypto with Self-Custody Using Ledger Live
Ledger provides a direct way for Australians to buy and manage crypto securely.
Steps to Use Ledger Live
- Set Up Your Ledger Wallet
- Download the Ledger Live app.
- Connect your Ledger device and initialize it.
- Set a PIN and record your 24-word recovery phrase.
- Install Apps and Create Accounts
- Add accounts for each coin (BTC, ETH, SOL, etc.).
- Buy via Trusted Partners
- Go to the Buy/Sell section in Ledger Live.
- Choose your coin, amount, and payment method (bank transfer or card).
- Partners include PayPal, MoonPay, and Coinify.
Top Crypto Exchanges in Australia (2025)
| Platform | Coins Available | KYC | Trading Fee | Pros | Cons |
|---|---|---|---|---|---|
| Ledger Live | 15,000+ | Depends on provider | Network fees only | Full self-custody, secure | External partners may require KYC |
| CoinSpot | 450+ | Yes | 1% | Large selection | Higher trading fees |
| Swyftx | 350+ | Yes | 0.6% | Beginner-friendly interface | Limited advanced features |
| Binance AU | 350+ | Yes | 0.1% | Lowest fees | No AUD deposits/withdrawals |
| CoinJar | ~60 | Yes | 1% | User-friendly | Fewer coin options |
Is Cryptocurrency Legal in Australia?
Yes, cryptocurrency is fully legal. The Australian Securities and Investments Commission (ASIC) and AUSTRAC regulate the market, enforcing KYC and AML policies.
Crypto Mining in Australia
Is Mining Legal?
Yes, mining is legal and regulated.
How to Mine Bitcoin in Australia
- Choose Mining Hardware
- ASICs like Bitmain’s Antminer or MicroBT’s Whatsminer are the most efficient.
- Costs range from A$7,000–A$12,000.
- Install Mining Software
- Only download from official sites to avoid malware.
- Join a Mining Pool
- Pools like AntPool, ViaBTC, and BTC.com offer steady returns.
- Assign a Bitcoin Wallet
- Use your self-custodial wallet to receive mining rewards.
Crypto Taxes in Australia
Is Crypto Taxed?
Yes. The Australian Taxation Office (ATO) treats crypto as property. Profits are taxed under Capital Gains Tax (CGT) rules.
Tax Brackets for 2025
| Income Range | Tax Rate |
|---|---|
| Under A$18,200 | 0% |
| A$18,201 – A$45,000 | 19% |
| A$45,001 – A$120,000 | 32.5% |
| A$120,001 – A$180,000 | 37% |
| Over A$180,001 | 45% |
If you hold a crypto asset for over a year, your capital gain is discounted by 50%.
How to Buy NFTs in Australia
NFTs are not clearly defined by law but are taxed under CGT.
Step-by-Step NFT Purchase
- Set Up a Crypto Wallet
- Use a Ledger wallet for maximum security.
- Buy Cryptocurrency
- Use Ledger Live to acquire ETH or other required coins.
- Select a Marketplace
- Examples: OpenSea, Rarible, Blur, SuperRare.
- Browse and Choose NFTs
- Explore collections or individual artworks.
- Purchase or Make an Offer
- Use crypto or credit card; offers may be placed on existing listings.
With roughly a third of Australians already investing in crypto, the market is thriving. While exchanges and software wallets offer convenience, they can be vulnerable. For true peace of mind, the best solution is to store your assets using Ledger hardware wallets.
FAQ – Crypto in Australia
Is Bitcoin legal in Australia?
Yes, completely legal.
Do you pay taxes on crypto?
Yes, under capital gains rules. See tax section above.
Can I mine Bitcoin in Australia?
Yes, it’s legal and feasible with the right setup.
Which crypto is best to invest in?
Popular options include Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).