Cryptocurrency in australia
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Once your account is funded, you can place your first order to buy bitcoin. Depending on the platform you’re using, you may be able to purchase it by tapping a button, or you may have to enter bitcoin’s ticker symbol (BTC). You’ll then have to input the amount you want to purchase.When the transaction is complete, you will own a portion of a bitcoin.
Cryptocurrencies are here to stay and shape the future of the finance industry. The crypto market has witnessed exponential growth in the last few years. This trillion-dollar industry is impossible to be overlooked by the regulators. Perhaps this is the reason why governments of many countries are recognizing these digital currencies formally or informally.
For low-level accounts, the daily deposit limit is $2000 AUD, and it can be increased once your account has been verified (you can contact CoinSpot customer support for assistance). You can add funds to your CoinSpot account in a variety of ways, and each deposit method is subject to a 24-hour time limit.
It has to be noted that investment institutions who were once suspicious of crypto, such as Goldman Sachs, have now indicated in publications that allocating a percentage of your portfolio to these blockchain-based assets is a wise investment plan. It is just a matter of time before cryptocurrencies completely revolutionize the way we buy and sell goods and services.
Cryptocurrency prices
As already mentioned, there are plans to transition to a proof-of-stake algorithm in order to boost the platform’s scalability and add a number of new features. The development team has already begun the transition process to ETH 2.0, implementing some upgrades along the way, including the London hard fork.
In January 2024 the SEC approved 11 exchange traded funds to invest in Bitcoin. There were already a number of Bitcoin ETFs available in other countries, but this change allowed them to be available to retail investors in the United States. This opens the way for a much wider range of investors to be able to add some exposure to cryptocurrency in their portfolios.
The term “Ethereum Killer” emerged around 2016/2017 as substitute blockchains such as Cardano began to enter the crypto scene. In 2018, EOS made its debut as the next “Ethereum killer,” raising $4.1 billion from investors, the highest amount an ICO had ever generated. Since then, others like Tezos, Solana, Fantom, Avalanche and Binance Smart Chain have surfaced as possible Ethereum killers.
As already mentioned, there are plans to transition to a proof-of-stake algorithm in order to boost the platform’s scalability and add a number of new features. The development team has already begun the transition process to ETH 2.0, implementing some upgrades along the way, including the London hard fork.
In January 2024 the SEC approved 11 exchange traded funds to invest in Bitcoin. There were already a number of Bitcoin ETFs available in other countries, but this change allowed them to be available to retail investors in the United States. This opens the way for a much wider range of investors to be able to add some exposure to cryptocurrency in their portfolios.
Cryptocurrency in australia
Exchanges are obliged to follow strict KYC regulations designed to tackle money laundering and fraud. These checks are in place to weed out people using your image to open a fraudulent account. The information is also shared with the Australian Tax Office (ATO) so they can be aware of taxpayers who trade cryptocurrencies. Just like shares, gains made on crypto investments are taxable in Australia.
However, just because an exchange is based in Australia does not necessarily mean it offers greater protection—Brisbane-based Digital Surge, for example, went into voluntary administration due to its exposure to FTX. Furthermore, an AUSTRAC registration or even an Australian Financial Services License does not offer the protection you may imagine. Cryptocurrency is legal but still unregulated in Australia, so consumers are at the mercy of the insurance fund of the exchange, if things go wrong.
As of 2025, CoinSpot, Swyftx, Independent Reserve and BTC Markets are the only Australian exchanges to hold ISO 27001 certification. In terms of global exchanges, Kraken, Binance, OKX and Coibase also have ISO 27001 certification.
Exchanges are obliged to follow strict KYC regulations designed to tackle money laundering and fraud. These checks are in place to weed out people using your image to open a fraudulent account. The information is also shared with the Australian Tax Office (ATO) so they can be aware of taxpayers who trade cryptocurrencies. Just like shares, gains made on crypto investments are taxable in Australia.
However, just because an exchange is based in Australia does not necessarily mean it offers greater protection—Brisbane-based Digital Surge, for example, went into voluntary administration due to its exposure to FTX. Furthermore, an AUSTRAC registration or even an Australian Financial Services License does not offer the protection you may imagine. Cryptocurrency is legal but still unregulated in Australia, so consumers are at the mercy of the insurance fund of the exchange, if things go wrong.
As of 2025, CoinSpot, Swyftx, Independent Reserve and BTC Markets are the only Australian exchanges to hold ISO 27001 certification. In terms of global exchanges, Kraken, Binance, OKX and Coibase also have ISO 27001 certification.
