Compare The Best Cryptocurrency Brokers in Australia – Are you interested in trading crypto CFDs like Bitcoin and Ripple but are confused about where to start? To help, we’ve listed some of the leading CFD crypto brokers in Australia (all are ASIC-Regulated). Born in , now Etoro is a leading broker which used to introduce Bitcoin trading in and added other cryptocurrencies in With its headquarters located in Israel, it serves residents of over countries including the UK, Australia, and other countries of Europe and other parts of the world. Established in , Independent Reserve is one of the most trusted exchanges in Australia & New Zealand. It caters to retail users, traders, SMSFs and institutions. You can buy Bitcoin using EFT, Osko/PayID, POLi and SWIFT. They use encrypted, geo-dispersed data centres and top tier underground vaults to protect your data and crypto.
Best australian bitcoin broker9 Exchanges to Buy Bitcoin & Crypto in Australia ()
Deciding whether or not to trade Bitcoin online depends on what your financial goals are. Some of the reasons that Australian investors trade Bitcoin include:. All trading involves fees and are mostly made up of transaction fees and overnight financing. These trading fees cover the use of the platform and are known as the spread.
These vary from market to market and trading platform provider. Overnight financing is a fee to keep the trade open when the markets are closed. These fees are similar to an exchange, where they charge you each time you transact in your digital wallet.
Below are the most common ways to trade. I would make sure you pick the strategy that resonates with you and how involved you want to be. The easiest will make you least profit vs the hardest, which is logical.
This is probably the easiest way to trade, but the least engaged as you look upon it as a long term investment. Trend Trading — this is where you take a trading position that mathes the current market trend. I the market is trending up bullish over time then you would go long buy , however if the market was trending down bearish then you would go short. When the trend starts to look to change you would look to close your position, bank the profit and reopen reflecting the current trend bull or bear.
Day trading — means just that, trading the rise and fall of the price over a single trading day. This is the most intensive type of trading as you take advantage of the short term price movements. Hedging — this is where you take a longer term trade position and mitigate any exposure by open a trade in the opposing position to the one you already have open.
This means you can cover potential losses in the shorter term as the market goes against your longer term trading. Even though they offer cryptocurrencies unavailable in other platforms, they do so with small spreads that start from zero pips. Coinbase is a US-based brokerage service in California. It is the largest cryptocurrency exchange, supporting over countries in the world, and continues to grow its customer base in numbers.
AvaTrade is one of the oldest online brokerages and is therefore a leading and well-established company in the industry and has a year track record to prove it. Clients can take advantage of different trading options such as: commodities, bonds stock indices, ETFs, forex, individual equities, and options. What is Bitcoin? Simply put, in terms of the physical world, our form of exchange is through cash.
Virtually it is a line of code known as cryptocurrency, which Bitcoin is a type of. The answer to this may be tricky and will depend on your outlook and strategy as the same reasons for why it is beneficial are the same reasons why it is a risk such as:. A bitcoin broker is a middleman for trading bitcoin at a fixed price. You can utilize brokerages by going to a platform to see the current rate at which the bitcoin is being sold.
If the rate displayed is at a price you deem fit, you can select and pay the amount you are willing to buy. Bitcoin brokers are also the only way for you to buy a lump sum of bitcoin at a time. Brokers hold the set value of what you have purchased, and you may be able to sell it once the price goes up for a kickback on the initial payment.
Therefore, by choosing an ASIC regulator, you are securing the fact that your funds will not disappear overnight. Contrary to the stance the government of Australia had a few years ago, Australia has become a major and proactive player in cryptocurrency. To sum up; when trading CFDs, you are betting on whether the price of an asset will increase or decrease.
As you and your broker do not own any actual Bitcoin, contracts for difference offers traders a hassle-free and simple way to generate profits on changing crypto prices. A crypto CFD broker acts as an intermediary between buyers and sellers of cryptocurrency. As of May , there are over 40 crypto CFD brokers here in Australia, all providing access to a range of cryptocurrencies. To find an honest and fair crypto broker, please review the table comparison above.
Trading with a regulated cryptocurrency broker is critical. All CFD brokers are required to state who they are regulated with, along with their registration number. If you cannot find this information easily, then be suspicious. The responsibility is on you to conduct your research and to find whether a cryptocurrency broker is regulated or not. If the price of Ripple does indeed decline, you will make a profit.
On the flip-side, a price increase in Ripple would result in a loss to a trader. Why Trade with Them? Crypto Leverage 2. Four important features to consider when choosing a crypto broker: Choosing the best crypto broker is a decision that you should spend some time deliberating over.
Trading costs Brokers make their money a number of ways; spreads, commissions, overnight financing costs, your trade losses etc. The tighter the spread the better chance you have of making a profit.
Are spreads fixed or variable? Please ask your broker if they will charge you if you do not trade with them every month. Regulation Do some research before opening an account with any CFD cryptocurrency broker in Australia and around the world for that matter.
Do not trade with a cryptocurrency broker who is not ASIC-regulated. Range of cryptocurrency markets Before opening a live trading account you should ensure that the cryptocurrency broker has the markets you wish to trade. There is a key difference between the two methods mentioned above; With option 1, you are simply speculating on the price movement of a crypto using an Australian CFD broker.
With option 2, you are actually buying the physical instrument, i. Bitcoin, Litecoin etc. You are buying it in the hope that it will increase in value so you can sell it for a profit at a later date.