Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Ethereum. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good amount of reliable and regulated cryptocurrency exchanges, so it’s quite easy finding an exchange that has Ethereum. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Ethereum in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Ethereum in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Ethereum, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Ethereum.
Or, if you’d like to learn more about the exchanges we like, check our comparison of the cryptocurrency exchanges.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy Ethereum, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy Ethereum
The final step is to go to their asset list, find Ethereum, navigate to the buy section, and then trade your AUD for some ETH. Once you’ve bought Ethereum, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy Ethereum (ETH)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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How to Sell Ethereum
If you’re thinking about selling Ethereum, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on Ethereum in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell Ethereum for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Ethereum in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy Ethereum with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Ethereum. Have a look on their site first, you might be lucky.
How to buy Ethereum with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Ethereum with your credit/debit card.
Ethereum is an open-source decentralized blockchain system. It also features its own cryptocurrency, Ether. ETH can be used as a platform to exchange many other cryptocurrencies and for the execution decentralized smart contract.
Vitalik Buterin first described Ethereum in a whitepaper published in 2013. Buterin and other co-founders secured funding through an online crowd sale. The team raised $18.3million in Bitcoin. Ethereum's price at the Initial Coin Offering (ICO), was $0.311, and there were over 60 million Ether sales. If we take Ethereum's current price, it means that the annualized return on investment (ROI), is more than 270%. This basically quadruples your investment each year since 2014.
Officially, the Ethereum Foundation launched the blockchain in July 2015 under the codename "Frontier".
Ethereum's stated goal is to be a global platform that allows decentralized applications to be developed and maintained by users all over the globe. This will allow them to create and maintain software that is immune to censorship and downtime, as well as fraud.