Crypto trading in Australia!


I’ve been buying BTC through Independent Reserve, then transferring to Bittrex to purchase altcoins on their exchange.
I haven’t tried many of the other local exchanges, but Independent Reserve is super easy to use, and the option of the Poli payment system is great for when you need funds in your account straight away.


I’ve switched from Coinspot to Coinbase.

Coinspot is easy but shit is way too inflated on top of the fees.

Coinbase has a nice simple UI and instant purchases. I kind of like the $300 weekly limit since I’m trying to limit myself to $100 per week:p not sticking to it week 1…



Can we trade BTC for AUD on this website?


thats good to hear, im slowly cleaning out my coins from Coinspot too. I feel queasy thinking about how much money theyve made from me in fees, im disgusted with myself for wasting so much.


I’ve been using BTC Markets for all my larger purchases of BTC, limits start at $2000 per day using POLI (fee is a set price $3.99 for POLI). If you need to transfer more you can raise a support ticket for a request to use direct bank transfer, this has no fees and no transfer limit. Additionally, BTC Markets has a standard AUD withdrawal limit of $30,000 per day for when you have reached the moon and need to get that Lambo!! Withdrawal to your bank account is free of charge. The link is below. Check it out. I use Bittrex and Bitfinex for my alt coins and plan to bring BTC, ETH or LTC back to BTC Markets to cash out when the time comes :crescent_moon:


The inflated prices arent so bad as you sell at a higher rate, just the fee’s maaaan, they are a killer.

I personally started of with Coinspot and besides the Fee’s being a little bit on the high side, it was very good way to start getting into Crypto.
Currently trying to get bank transfers verified for BTC Markets ( dont trust Poli), than will transfer over to Bittrix


BTC markets is cheaper at the moment.
Trading fee also decreases as you buy more coins…
And the transfer fee is only $3.
I found the fees on other platforms much much higher.
Please let me know if I am wrong.


Exactly mate problem is they are forcing you to hold your coins in their exchange and we all know how that story can end…

Coinspot is nice for beginners but once you start accumulating more funds and need to move them to a wallet, you lose that high sell price - and they only let you send back BTC…

What’s the POLi story bro?


Yeah I’ve started to worry about that, once i move away from CoinSpot, it’s going to be tough to move all my coins without selling them off. I’ll have to make a plan on how I’m going to move them out. If i find a good way ill be sure to share it here!

POLi is a system of internet banking in which they can offer pretty much direct/instant transfers, however this is done by logging into your online banking account and making the transfer.

Now there are lot’s of people saying that it’s super secure and there’s no way people could get your details, however my problem with it is banks no longer give you warranty once you use it.

They will not cover loss funds due to fraud or error once you’ve used a 3rd party to log into you online banking (POLi), even if it was say a 2 years ago, your still not covered. In my opinion that alone says a big NO NO so refuse to use the system.

I’d rather wait the 2-3 days with bpay and pay the 2% with coinspot and still keep my warranty.


Even with POLI, you still need to wait 2 days…


thanks for pointing that out Aydo, did not know…won’t be using that method anymore…


POLI has only ever been instant when ive used it.


DId you use it during business hours?


thanks for the heads up on POLI regards to no warranty, that pretty average actually.


im not sure, ill have a look now.


No problemo that’s why some major banks aren’t available on it as they just flat out refuse to use it (ANZ is one of them)
Others may allow the use of it, but it’ll be at the cost of your warranty. It’s best to double check with your banks terms and conditions!


I transferred some on Sunday & it appeared on BTC today(tuesday)…
So it took me more than a day.


i transferred mine on a Thursday and Friday morning.


Aydo, quick one mate, how do I get the option for bank transfer on BTCmarkets?

SO far I can only see POLi…


It’s a painfully slow process …
First have to send support a ticket, then you should get an email saying message them on Facebook to confirm.

I did this all 2 days ago and got a response finally today, they then jusy ask to reply with the email that you are signed up with and they will activate it for you.

In hindsight it’s probably best to when you message them on Facebook include the email that you are registered with!