5 Best Bitcoin Apps in Australia

Bitcoin is the leading cryptocurrency in the world and the one with the highest price and market cap. It’s also the oldest currency with the strongest reputation today. If you want to buy Bitcoin in Australia, the easiest way is to use an app that is supported in AU.

That’s precisely what we are here to discuss. In this guide, we take a look at the 5 best Bitcoin apps in Australia for both beginners and experienced investors. 

Best Apps to Buy Bitcoin in Australia in 2024

Our team of crypto experts has tested most of the major Bitcoin apps available in Australia.

During our research, we looked at each platform’s key features, usability, fees, and crypto trading options. After looking at the different platforms available, 5 apps stood out as the best Bitcoin apps to use in Australia.

1. Binance: The best app for experienced investors who are looking to implement complex trading strategies
2. Coinbase: The most beginner-friendly Bitcoin app with a native mobile wallet
3. CoinJar: A local Australian cryptocurrency app with a simple interface and great educational resources.
4. eToro: The best Bitcoin app for trading crypto and stocks in one place.
5. Exodus: The best Bitcoin wallet app to store your Bitcoin safely.

Why We Picked The Top 5 Bitcoin Apps

In the following section, we will take a closer look at the 5 best Bitcoin apps to use in Australia.

Binance: The Largest Cryptocurrency Exchange (including Australia)

Binance is a popular exchange that is used by crypto traders around the globe. It’s a centralised exchange platform used for trading hundreds of different coins, including Bitcoin.

The best part is that it works worldwide. Moreover, it offers a separate platform for AU users — due to the country’s specific crypto laws.

We placed Binance at number one because it is suitable for both beginner and experienced investors. For the latter group, the Bitcoin app supports a range of advanced trading features such as staking, lending and crypto interest. All of which you can access on your phone.

However, the exchange has been at the heart of numerous regulatory cases over the years. Its important to keep tabs on the latest crypto news to avoid any pitfalls.

Pros

Cons

• Fast transaction times
• Largest crypto exchange by volume
• Ideal for experienced traders
• Low fees

• Limited customer support

Coinbase: The Best Bitcoin App for Beginners

Coinbase is the most popular crypto exchange in the world, and that’s largely thanks to how easy it is to use. It’s, by far, the best for beginners, as you can quickly and seamlessly start investing in Bitcoin with fiat currency.

It offers a wide array of features and even lets you earn token rewards if you want to complete specific activities.

One of the main reasons that we chose Coinbase is that the app has a low minimum deposit of just $1. This is ideal for beginners who may not want to trade with large amounts of money until they feel more confident.

Pros

Cons

• Simplest interface, ideal for beginners
• Top-level security
• Trustworthy, with an excellent reputation worldwide

• High fees
• No way to control your private keys

CoinJar: Australia’s Native Crypto App

Australian investors can choose between a selection of native crypto apps that are specifically designed to be used alongside Aussie laws and regulations.

One of the best ones on offer is Coinjar – a beginner-friendly application that allows you to buy 60 cryptocurrencies from as little as 10AUD.

We like CoinJar because it is simple. Users can use the basic exchange to buy and sell cryptocurrencies or, use the advanced trading platform to implement more complex strategies.

Pros

Cons

• User-friendly interface
• Native mobile wallet for safe crypto storage
• Start trading from just $10
• 5-star customer support services available 7 days a week

• Limited selection of cryptocurrencies

eToro: The Best Bitcoin Broker App in Australia

eToro is a popular option as it provides innovative features such as the ability to copy successful traders. It is also easy to use and employs top-notch security.

If you decide to register, you will have to download their app, but the actual installation and registration processes are pretty simple; you can get started in no time.

We like eToro before it offers access to both the cryptocurrency and stock markets. This makes it a great choice for users who want to build a diverse portfolio with both deFi and TradFi.

Pros

Cons

• Easy-to-use app interface
• Low commissions in Australia
• Multiple withdrawal options available in Australia

• Some customers are limited to trading cryptocurrencies

Exodus: The Best Crypto Wallet

It’s usually hard to decide which wallet to get for Bitcoin, as there are two leaders in this sphere — Exodus and Trezor.

However, we believe Exodus is the better choice as it’s more user-friendly and has a better-designed platform.

However, as Trezor is a hardware wallet and it has good relations with Exodus, you can connect the two if you want to be as safe as you can get.

The Exodus wallet is available on both mobile and desktop. We recommend downloading an Exodus wallet alongside using a reputable Bitcoin exchange app to buy Bitcoin.

If not, Exodus has a built-in exchange that can be used to trade a selection of cryptocurrencies. The exchange may not come with the same features as dedicated trading platforms but, it does the job.

Pros

Cons

• Built-in exchange
• Works online and as a mobile app
• Great customer support
• Can connect with Trezor hardware wallet for added security

• Closed source software
• High transaction fees

What To Look for In a Bitcoin App

Although the above options are excellent choices for Bitcoin traders in Australia, there are numerous options out there to consider.

Choosing the right Bitcoin app can make a significant difference in your trading experience. With so many options available, it’s essential to know what to look for to ensure you select an app that suits your needs.

Here are some key features to consider.

Bitcoin Trading Fees

When trading Bitcoin, one of the first things you should consider is the trading fees. These fees can vary widely from one app to another and can significantly impact your overall profitability.

Look for apps that offer competitive and transparent fee structures.

Some apps charge a flat fee per trade, while others take a percentage of the trade amount. Additionally, be aware of any hidden fees such as withdrawal fees, deposit fees, or inactivity fees.

Comparing the fees of different apps can help you find one that fits your trading style and budget. For example, if you plan on making frequent trades, an app with lower transaction fees will be more cost-effective in the long run.

However, if you plan on buying Bitcoin once and holding it for a while, inactivity fees might catch you out.

User-Interface

A user-friendly interface is crucial for both new and experienced traders. The app should have an intuitive design that makes it easy to navigate and execute trades.

Look for features such as clear and accessible menus, easy-to-read charts, and straightforward transaction processes.

An app with a well-designed interface can help you make faster and more informed trading decisions. Avoid apps with cluttered screens or complicated navigation, as these can lead to mistakes.

Many of the best Bitcoin apps offer demo accounts, which can be an excellent way to test the user interface before committing.

For user interface, we like Coinjar. The app is simplistic and easy to navigate.

Minimum Deposit

Different Bitcoin apps have different requirements for the minimum deposit needed to start trading. This can range from a few dollars to several hundred dollars. Consider your budget and risk tolerance when evaluating the minimum deposit requirement.

If you’re new to Bitcoin trading or just want to start with a small amount, look for an app that allows you to begin with a low minimum deposit. This way, you can start trading without committing a large sum of money and gradually increase your investment as you become more comfortable with the platform.

Our top pick for a low minimum deposit is Coinbase, which allows you to trade from just $1.

Payment Methods

A good Bitcoin app should support multiple payment options, such as bank transfers, credit/debit cards, and even PayPal.

Ensure the app supports your preferred payment method and check for any associated fees. Some payment methods might incur higher fees, which can eat into your trading profits.

Also, consider the processing time for deposits and withdrawals, as faster transactions can provide more opportunities for timely trades.

Trading Tools and Features

The best Bitcoin apps offer a range of trading tools and features to help you make informed decisions. Look for apps that provide advanced charting tools, real-time market data, and various order types.

Some apps also offer educational resources, such as tutorials, webinars, and market analysis, which can be especially beneficial for beginners.

Advanced features like automated trading, price alerts, and portfolio management tools are suitable for experienced traders who are open to more complex strategies.

Native Crypto Wallet

With a native wallet, you can store your Bitcoin and other cryptocurrencies directly within the app, making it easier to manage your assets and execute trades quickly.

Choosing an exchange with a native wallet allows you to skip the step of creating a wallet of your own – which can be daunting for new traders.

When evaluating an app’s native wallet, consider factors such as ease of use, security features , and support for multiple cryptocurrencies. A reliable wallet can give you peace of mind knowing your funds are safe and easily accessible.

Safety of Funds

Ensure the app you choose has robust security measures in place to protect your funds and personal information. Look for features such as two-factor authentication, encryption, and cold storage for storing the majority of funds offline.

Additionally, research the app’s reputation and read reviews from other users to ensure there have been no significant security breaches or issues in the past.

A trustworthy app will prioritize the safety of its users’ funds and continuously update its security protocols to address new threats.

Customer Support

Good customer support can make a significant difference, especially if you encounter issues or have questions about the app. Look for apps that offer multiple support channels, such as live chat, email, and phone support.

It’s also worth checking that the support is available around the clock so that you can access it when you need to. eToro’s customer support is open 24/7 for all users.

What Are The Risks of Buying Bitcoin Through an App?

Although reputable Bitcoin apps follow security procedures to protect users, they don’t come without risks.

Here are some of the risks to be aware of before you start using your money to trade.

• Market Volatility: Bitcoin prices can fluctuate significantly, leading to potential losses.
• Security Risks: Potential for hacks and security breaches if the app’s security measures are inadequate.
• Regulatory Risks: Changes in regulations can impact the legality and availability of trading services.
• Technical Issues: App downtime or technical glitches can prevent timely trades or access to funds. This is particularly risky for traders who to implement day trading strategies that rely on timely execution.
• Hidden Fees: Unclear fee structures can lead to unexpected costs and reduced profits.
• Scams and Fraud: Risk of using unreliable apps that might disappear with your funds.
• Lack of Knowledge: Inexperienced traders might make poor trading decisions without proper education and tools.

Choosing the right Bitcoin app involves careful consideration of various factors to ensure a safe and efficient trading experience. By paying attention to trading fees, user-interface, minimum deposits, payment methods, trading tools, native wallets, security, and customer support, you can find an app that meets your needs and helps you navigate the world of Bitcoin trading with confidence.

Different Types of Bitcoin Apps

It is worth noting that there are several different types of Bitcoin apps that you can use for various purposes in Australia.

So far, we have covered the best Bitcoin exchanges for buying and selling Bitcoin. However, you may be looking for an app that serves a different purpose.

Best apps to send Bitcoin

If you are looking to send Bitcoin to another user, the best apps to use are Bitcoin wallets. You can send Bitcoin from a wallet by entering the recipients wallet address and confirming the transaction.

You can also send Bitcoin through eWallet apps such as CashApp and Paypal. PayPal supports peer-to-peer crypto transfers which means that you can send crypto from your account to another person’s.

Best Bitcoin mining apps

Another use case for Bitcoin apps is mining. Mining apps allow you to earn Bitcoin by mining blocks on the Bitcoin blockchain.

Apps such as NiceHash, StormGain, and EasyMiner allow you to take part in mining without needing to invest in large amounts of hardware.

Best Bitcoin wallet apps

We’ve already mentioned Exodus. However, there are several other Bitcoin wallet options that are excellent for storing Bitcoin.

These apps may not offer the same features as Bitcoin exchanges or trading platforms. Instead, they are suitable for storing your crypto away from an exchange.

Some examples of reputable wallet apps include Trust Wallet, Best Wallet and Coinbase Wallet.

Final Thoughts

The best Bitcoin app for you will depend on your needs, strategy and experience. If you are looking to buy Bitcoin, consider basic apps such as Coinjar and Coinbase which have a simple interface and low fees.

On the other hand, if you are looking to implement advanced Bitcoin trading strategies, consider applications such as Binance which offers mining and lending.

Before choosing an app, spend time researching different options to find one that offers everything you need. The best apps should provide a demo account that can be used to test the platform without depositing any funds.

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