Is it Legal to Buy Crypto with a Credit Card?
Yes, it is perfectly legal to buy and sell cryptocurrencies with a credit card in Australia. However, as part of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF), Australian digital asset trading platforms must be registered with AUSTRAC to offer their services legally within the country.
This means that you will need to verify your identity as a Personal or Company/Institutional user on the platform before you can buy cryptocurrency with a credit card.
How to Buy Crypto with a Credit Card in Australia
The safest and easiest method to invest in Bitcoin and cryptocurrencies is with CoinSpot. Their platform offers instant Australian Dollar (AUD) deposits via Credit Card to trade 370+ cryptocurrencies with low fees starting at 0.1%. They are a licensed company in Australia by AUSTRAC and ASIC and have over 2.5 million users in the country.
You can get started in 4 simple steps:
- Sign up to CoinSpot and verify your personal or company account.
- Select 'Deposit Funds' and select 'Card Deposit'.
- Input your Credit Card details and your deposit amount and complete the transaction.
- Find the crypto you want to buy on the platform and execute your trade.

Deposit fees for Credit Cards
Investing in digital assets with a credit card may be more expensive than using other methods, due to the higher fees that are often charged by credit card companies for cryptocurrency purchases.
That said, the average credit card deposit fee on all crypto exchanges in Australia including CoinSpot is 2.49%.
Is it risky to buy Crypto with a Credit Card?
Buying cryptocurrency with a credit card can be safe if you take the necessary precautions. However, it is important to be aware that buying cryptocurrency with a credit card may also be more risky than using other methods, as credit card transactions are generally not reversible and you may be more vulnerable to fraud or other types of losses.
To help protect yourself when buying cryptocurrency with a credit card, you should:
- Use a credit card from a reputable financial institution and make sure that your credit card information is secure.
- Only buy cryptocurrency from reputable exchanges or brokers that have a good track record and are regulated by the relevant authorities.
- Carefully review the terms and conditions of any cryptocurrency purchase, including any fees or charges that may apply.
- Keep your credit card information and other personal financial information safe by using strong passwords and enabling two-factor authentication whenever possible.
- Monitor your credit card statements and account balances regularly to ensure that you are aware of any unauthorized transactions or other issues.
It is also important to note that the legal status of cryptocurrency may vary depending on the specific laws and regulations that apply in your jurisdiction.
Final Thoughts
Buying cryptocurrency with a credit card can be a convenient and secure way to get started investing in digital assets. By following our guide and taking the necessary precautions, you can reduce your risk of fraud or other losses when buying cryptocurrency with a credit card in Australia.
Make sure to do your own research and always use reputable exchanges or brokers that are regulated by the relevant authorities. Finally, always keep your personal financial information secure and monitor your credit card statements regularly.