Cryptocurrency is such a big deal in Australia. Crypto trading is on the ascent, and many blockchain firms have set up their offices in Australia to take advantage of the country’s crypto-friendly laws. Many people in Australia typically use their credit cards to buy crypto and send it to their friends and family. Some even pay their taxes in cryptocurrency.
How to buy crypto with credit card in Australia?
If you just want to purchase some bitcoins, you can use licensed exchanges such as Coinbase and Crypto.com. These platforms allow Australian residents to purchase all major cryptocurrencies using their credit cards, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, etc. Once your account is verified, you can simply add your credit card and input the amount of crypto you want to buy.
Let’s look at the most secure and popular sites that allow anyone to buy crypto with a credit card in Australia.
Buy crypto with a credit card on Coinbase
Coinbase is one of the most popular cryptocurrency exchanges that allow you to buy and sell cryptocurrencies. It is also one of the few exchanges offering crypto trading services in Australia.
You use your credit card to buy crypto on Coinbase or fund your account with cryptocurrencies such as BTC, ETH, BCH, FTM, etc. Coinbase charges a 2.49% transaction fee on all crypto purchases made using a credit card.
Here’s how to buy crypto with a credit card on Coinbase:
- Sign up for a Coinbase account.
- After creating an account, verify your email address and phone number
- When your account is created, go to the payment methods page and click “Add Payment Method,” where you will be able to enter your credit card details.
- Fill in the essential information for “Credit/Debit Card.” Enter your first and last name (as it appears on your credit card) and your Billing Address and Credit Card Number, expiration date, and security code (CVV). Click “Add Card” once all of the information has been submitted.
- A verification process will follow, which may require you to upload a picture of a government-issued ID or other proof of identity documents for security reasons. This is one of the main requirements of all cryptocurrency exchanges when dealing with fiat currencies such as USD. This helps prevent fraud and money laundering schemes.
- Go back to the buy page and enter the amount you wish to buy. Choose the debit/credit card as a payment method. Once a transaction is complete, the crypto is deposited into your account.
Buy crypto with a credit card on Crypto.com
Crypto.com is one of the most secure cryptocurrency exchanges that instantly allows users to buy crypto with a credit card. The biggest drawback is the fees – Crypto.com charges 2.99% on transactions made with a credit card.
The process of buying crypto with a credit card on Crypto.com is straightforward:
- Go to the Crypto.com website and click Sign Up on the top right corner of the screen.
- Sign up using your email address and password
- You will get an email from Crypto.com containing a link that you will need to click to verify your account. After confirming your email address, you can immediately start buying crypto with your credit card.
- Go to the Buy button on the top right corner and choose which coin you would like to buy
- Enter how much Bitcoin you want to buy (the minimum amount is $25) and click Buy BTC now
- Enter the amount you wish to purchase under BTC to buy
- Click Buy Now
Buy crypto with a credit card on eToro
eToro now offers Australian residents the opportunity to buy crypto instantly with a credit card. It allows the purchase of crypto with a credit card securely, meaning the transaction is entirely safe. eToro doesn’t charge any clearance fees when you fund an account with a credit card. Purchases with credit cards on eToro are charged at 0.75% to 5%.
Here’s how to buy crypto online with a credit card without verification:
- Open an account with eToro. The process takes a few moments.
- Link your card to fund your account. You will be required to verify your identity by filling in personal details and address.
- Search for the cryptocurrency you want to buy and click ‘Trade.’
- Select ‘Buy’ if you’re going long and ‘Sell’ if you’re going short.
- Confirm your order to complete the purchase.
Buy crypto with a credit card on Coinmama
Coinmama is also available in Australia. You can use your credit card to buy crypto on Coinmama and sell at a profit.
After verifying your account and card, you can buy Bitcoin on Coinmama with a credit card for up to 15,000 USD per month. Coinmama charges a higher fee than other exchanges – expect to pay between 4.9% and 5.9% fees with a credit card.
Since Coinmama’s main focus is to enable people t buy and sell cryptocurrencies, it doesn’t offer any other features, which could be suitable for those looking for an easy-to-use exchange. Coinmama currently supports the following currencies: Bitcoin (BTC), Bitcoin Cash (BCH). Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Ripple (XRP), and Tezos (XTZ).
Here’s how to buy crypto with a credit card on Coinmama:
- Go to Coinmama’s website.
- Click the “Sign Up” link located at the top right of the homepage.
- Fill out your first name, last name, email address, and password, then click “Create an account.”
- Once you complete registration, you will get an email from Coinmama with a verification link. Click it to verify your account and activate it for trading.
- Once you log into your account, click the “Buy” tab, then select “Bitcoin,” “Ethereum,” or any of the other cryptocurrencies available for purchase on Coinmama.
- Choose the amount you want to buy or enter your desired amount in the field provided. Then click “Buy Bitcoin/Ethereum now.”
- Then select your payment method (“Credit/debit card”). Enter your wallet address and click continue.
- Enter your credit card information (card number, expiry date, CVV). Next, complete the ID verification by taking a selfie of yourself holding a government-issued ID document passport or driver’s license.
- If successful, your card will be charged for the purchase, and crypto deposited in your Coinmama wallet.
Buying crypto Australia: How to buy HI with a credit card
Hi.com is one of the best places to buy crypto using a credit card. With Hi.com, you can buy HI or any other cryptocurrency with a credit card in minutes. It’s easy to open a new account, and the platform lets you buy HI instantly.
Here’s how to buy crypto with a credit card on Hi.com.
- Sign in to the hi Web App and tap on “Buy HI.”
- Select “Pay with Cards” in the top right-hand corner
- Enter the amount of HI you would like to purchase. The corresponding amount in USD will be automatically calculated.
- Select price rate, tap “Buy HI” and check out to confirm the transaction.