How to Buy Ethereum in Australia in 2023

Over the last few months, we have seen a massive bull run in the cryptocurrency markets. Many people around the world have been looking at the best ways to invest and/or trade in this industry. Ethereum is one of the coins that has been favored by the current bull run hitting an all-time high (ATH) on April 02, 2021 trading at AUD 2,828.08 according to the coin market cap’s data. As a beginner, you would not want to miss out on this bullish market. So, how can you buy Ethereum in Australia?

Steps to buy Ethereum on Mitrade

• Register for an account on Mitrade
• Enable 2-factor authentication (2FA) to enhance the security of your account.
• Verify your account.
• Deposit funds in AUD into your Mitrade account.
• Click the “Trade Now” link.
• Look for ‘Ethereum’ and click on ‘Buy’
• Enter the AUD amount that you want to trade.
• Review the details and confirm that everything is correct.
• Click Buy.

What are the best ways to buy Ethereum in Australia?

There are various ways that you can buy Ethereum in Australia and each of these ways has different risks, benefits as well as fees that need to be considered before conducting any transaction. One of the best ways that we would recommend is buying through Mitrade this is because it offers very low trading fees, and various payment methods when buying such as major credit cards, skrill, bank & wire transfers, Poli, etc.

The followings are the Pros and cons of buying ethereum on the Mitrade platform that would help you in making a solid decision on the choice of the trading platform.

Pro

• It is a regulated broker
• They have limited types of trading accounts
• The trading platform is extremely simple to use
• The client’s funds are held in a segregated trust account.
• Has a low minimum deposit of just £ 0.73
• The platform has no commission fees.

Cons

• They have limited types of trading accounts
• It does not have a meta trader platform.
• It does not have individual stocks
• There are inactivity fees
• The spreads would not be considered the tightest.

Top platforms to get Ethereum in Australia

The best and most recommended way to purchase ethereum in Australia is by using regulated and simple-to-use platforms such as Mitrade. These platforms allow the user to deposit funds in Australian dollars and it will be converted into ethereum. To comply with Australian laws, all you need is to verify your identification.

Swyftx

This is one of the top-rated cryptocurrency exchanges in Australia where you can buy, trade as well as sell Ethereum using Australian dollars. This platform is locally owned as well as operated in Brisbane. Swyftx offers simple ways to invest and trade in different digital assets. Over the last few years, the use of Swyftx has gained more popularity and it has over 30,000 registered users.

Top Swyftx features and why it has a huge popularity

• The platform has over 170 cryptocurrency coins available for buying as well as selling
• Its verification process does not require any document uploads and it takes less than 2 minutes t verify your details.
• Using this platform your amount of crypto is maximized due to their low fees and spreads.
• You have the privilege to get the best market rates due to their high liquidity
• If you have any problem, comment, or need any assistance, they have a live chatbot available 24/7 to help you through.
• Swyftx has automatic recurring purchases to the dollar cost average.

Coinspot

This is another Australian exchange with a high trading reputation. Since its launch in 2013, its popularity across the Australian crypto trades has been o the rise. If you are a beginner in cryptocurrency trading, Coinspot would be a good platform because it allows you to invest using your super fund and it has a secure Coinspot wallet to store your Ethereum. Whether you are a novice or an expert trader, you can start buying Ethereum within minutes as it is not complicated to use.

Features

• It is simple and easy to buy Ethereum in Australia.
• Coinspot has over 200 cryptocurrency coins that you can buy and sell.
• This Australian exchange meets the ISO security standards.
• Coinspot allows you to deposit using various methods such as POLi, major credit cards, and BPAY, as well as cash at a local news agency.
• As a trader, you get 24/7 customer support.

eToro

eToro is one of the most reputable cryptocurrency trading platforms in Australia where you can buy and sell Ethereum as well as many other coins.

eToro allows the customer to deposit through various methods such as major credit cards, bank transfers, PayPal, SEPA, etc. In addition to this, eToro has a copy trading feature that is unique to the platform only. eToro is a great platform to buy Ethereum because it has the added advantage of being active in traditional finance.

Also, its interface is very easy to use regardless of your trading experience. The biggest limitation that eToro has is that you cannot deposit cryptocurrency. You need to deposit fiat currency and then buy Ethereum.

CEX.io

This is among the top-known cryptocurrency exchanges supporting most countries. In Australia, this is one of the best cryptocurrency exchanges where you can buy Ethereum. In addition to Ethereum, CEX.io offers a wide range of cryptocurrency coins such as Bitcoin, Litecoin, Ripple, etc.

While this platform has gained popularity since its launch in 2013, its greatest limitation is that it has high fees of approximately 5% of the amount traded. Also, their customer support would not be termed as the best as it is very slow to respond.

As a beginner that has just registered on the platform, the verification may inconvenience you because it takes way too long.

Binance

If you have an interest in cryptocurrency, I believe you have come across Binance. It is arguably the largest cryptocurrency exchange in the world. It is a great platform to buy, sell as well as trade Ethereum as well as over 250 other cryptocurrency coins.

Binance offers instant deposits and withdrawals in Australian Dollar currency through PayID/OSKO, NPP Payments is supported by over 100 banks and financial institutions in Australia. The binance trading platform is considered to be one o the cheapest exchanges where you can buy and sell Ethereum for fees o as low as 0.1%.

Top Binance features

• The platform has the highest daily trading volume.
• In addition to Ethereum, there are over 200 cryptocurrency coins that you can trade.
• Binance gives you the privilege to trade Ethereum against various pairs such as fat, altcoins, and stablecoins.
• It has very low trading fees of just 0.1%.
• Binance has a savings account feature that allows you to earn interest in your cryptocurrency.
• On this platform, you can trade futures, margins as well as options.

Coinjar

This is termed as one of the oldest crypto trading platforms in Australia where you can easily buy Ethereum in Australia. With over 400,000 users both on the app as well as the website platform, it is a trusted and reputable platform to easily buy Ethereum in Australia.

Features

• The platform is very easy to use its innovative crypto products.
• Its app is very reliable and safe to use.
• CoinJar is a trusted and regulated exchange which are very easy to use for both beginners as well as experienced traders.
• It allows you to buy cryptocurrency coins by use of various methods such as bank transactions, major credit/debit cards, BPAY, etc.
• In Australia, you can withdraw your funds through PYAID direct to your bank account.

Independent Reserve exchange

This is another top-rated exchange in Australia that allows traders to buy Ethereum with very competitive fees. It allows traders to deposit in various fiat currencies such as Australian Dollars, New Zealand dollars, etc. Also, a trader can deposit using various methods such as PayID, POLi, EFT, Swift, etc. Independent Reserve is arguably one of the best platforms that users in Australia can buy and sell Ethereum at affordable fees as well as an easy-to-navigate interface.

Independent Reserve Features

• Over its years of operation, it has gained the reputation and trust of over 8,000 Australian investors.
• It has a tier-based fee structure. This means, that the more you trade, the fewer fees structure you will pay.
• All the traders’ funds are securely insured.
• There are various methods of depositing Fiat currency.
• There is an automatic recurring purchase-to-dollar cost average.
• Trades have access to tax tools as well as reports.

While there are many exchanges and trading platforms where you can easily buy Ethereum in Australia, these are some of the best platforms that are not only recommended and endorsed by financial analysts and experts. You can never go wrong with these trading platforms and exchanges.