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Buy Bitcoin and Crypto with Cash in Australia

Buy Bitcoin and Crypto with Cash in Australia

Adrian Graham
Fact Checked
May 16, 2022

Many Australian investors work and earn cash for a living, and would like an easy way to turn that cash into Crypto.

Fortunately, many Australian cryptocurrency exchanges let you swap Cash for Bitcoin and other cryptocurrencies for low fees.

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Platform Highlights

How to buy Crypto with Cash Deposit in Australia

The easiest way to buy Cryptocurrencies with cash is through Australia's largest exchange CoinSpot. Their platform allows you to deposit AUD to a local Post Office that will get loaded onto their exchange. This will allow you to trade over 350 different cryptocurrencies and even Stake them to earn passive income.

To get started, follow this simple guide:

Step 1: Sign up to the CoinSpot Australia platform before you visit a Post Office to deposit Cash.

Step 2: Verify your account and then select the 'Deposit Funds' button.

Step 3: Then select the 'Cash Deposit' button on the left column on the screen.

Step 4: Input the amount of AUD you want to deposit, then find a 'Cash Deposit Location' in the map at the bottom of your screen.

Buy Crypto with Cash Deposit Australia

You can deposit AUD with any of these participating retailers via BlueShyft and it will be instantly loaded to your CoinSpot account.

Step 5: Once your funds are loaded, you can select from over 350 cryptocurrencies to buy on the CoinSpot platform with your cash!


CoinSpot Cash Deposit Fees

The cash deposit fee when you deposit AUD with BlueShyft is a flat 2.5%. This may seem expensive, but other platforms charge up to 4% and offer less cryptocurrencies with worse fees on the platform.

The cash deposit limit to buy crypto is $8,000 AUD. This limit may be raised if you contact their support team.


Can I sell BTC or Crypto to Cash in Australia?

There is no way to sell you Bitcoin or digital assets back into Cash with platforms like CoinSpot, Digital Surge or SwyftX. You would need to find a willing party that would accept your Crypto in exchange for cash in a peer-to-peer trade.


Is buying Bitcoin or Crypto with Cash Safe?

Buying Bitcoin and other cryptocurrencies with cash is safe when you use a licensed digital asset trading platform like CoinSpot or Independent Reserve. It is not safe when you use P2P exchanges like Paxful or Local Bitcoins, because meeting with a vendor in person to exchange is incredibly dangerous.

We recommend avoiding P2P platforms entirely if you are an Aussie investor looking to buy crypto with cash.

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Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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