How To Buy Cardano (ADA) In Australia (2020)

Best Exchange For

swyftx

Best Exchange For

coinspot

Best Exchange For

coinjar exchange

Are you a beginner and wondering how to buy Cardano (ADA) in Australia but don't know where to start? If so, this simple guide will show you how easy it is and answer commonly asked questions such as:

  • Where can I buy Cardano in Australia?
  • What is the best crypto exchange in Australia to invest in Cardano?
  • Which Australian crypto exchange is safe?
  • Is Swyftx the best crypto exchange in Australia?

To help you get started, we have conducted extensive research and assessed the important consideration when looking for a crypto exchange in Australia such as trading fees, deposit limits, payment methods, safety & security and customer support. 

How To Buy Cardano (ADA) In Australia

To buy Cardano (ADA) in Australia, you will need to follow these basic steps:

  1. Register for an account with an Australian cryptocurrency exchange such as Swyftx
  2. Complete the signup registration process and verify your email
  3. Go to the left menu and Click 'Deposit AUD'
  4. Select your preferred payment method and confirm
  5. Go to the “Trade” menu and select Cardano (ADA)
  6. Enter the amount of Cardano you want to buy
  7. Confirm the transaction details and confirm purchase

Best Cardano Exchanges In Australia

Here is our consolidated list of the best Cardano (ADA) exchanges in Australia (with our commentary):

  1. Swyftx (low fees and beginner friendly)
  2. Independent Reserve (popular exchange with variety of deposit methods)
  3. CoinSpot (reputable and exchange that has been established for many years)
  4. Coinjar (only Australian exchange with a mobile app to buy and sell cryptocurrency)
  5. Binance (worlds largest crypto exchange)

Exchange

Deposit Method

Fees

Our Review

Rating

Website

swyftx

PayID

POLi

BPAY

0.6% (low spreads)

5 / 5

independent reserve

Bank Transfer (EFT)

PayID

POLi

Swift

0.5% (volume based)

4.5 / 5

coinjar exchange

PayID

BPAY

Cash Deposit

0.1% - 1%

4.3 / 5

coinspot

PayID

POLi

BPAY

Cash Deposit

0.1% - 1%

4.3 / 5

binance

Bank Transfer (EFT)

Credit card / Debit card

2.5%

4.1 / 5

Best Cardano Exchanges In Australia: Reviews

Our review and assessment of the popular Cardano exchanges in Australia is based on important factors such as ease of use, reputation, charting features, trading fees, deposit methods, security and customer support. 

Swyftx

Swyftx is a state-of-the-art online platform that users to buy, trade and sell Cardano with AUD. The trading platform is well known for having 4 times lower spreads and 2 times cheaper trading fees compared to its closest competitors in Australia and rapid account verification in less than 2 minutes without taking selfies. 

swyftx

Features:

  • 100+ crypto coins to buy, trade and sell
  • Rapid verification takes less than 2mins (without document upload)
  • Low trading fees and spreads to maximize amount of crypto
  • High liquidity to obtain best market rates
  • Automatic recurring purchases to dollar cost average
  • Customer support available 24/7

Ease of use

Reputation

Deposit methods

Fees

Independent Reserve

Independent Reserve is a popular exchange among cryptocurrency traders around the world that offers trading competitive fees and support for traditional fiat currencies such as the Australian Dollar, New Zealand Dollar and US Dollar. The exchange supports AUD and NZD deposit methods using EFT, POLi, PayID and SWIFT to buy, trade and sell 14 cryptocurrencies in Australia. 

independent reserve

Features:

  • Reputable and trusted Australian cryptocurrency exchange
  • Tier based fee structure that decreases with volume traded
  • Funds are backed by insurance company
  • Wide range of deposit methods 
  • Automatic recurring purchases to dollar cost average
  • Customer support available 24/7

Ease of use

Reputation

Deposit methods

Fees

CoinJar

CoinJar is a trusted crypto exchange in Australia and also one of the longest-running digital currency exchanges. CoinJar allows users to buy, sell, store and Cardano within a secure wallet. With over 400,000 users and counting, CoinJar exchange is one of the best places to buy Cardano in Australia that will suit both beginners and experience investors. 

coinjar

Features:

  • Easy to use, simple and innovative cryptocurrency products
  • Trusted and regulated Cardano (ADA) exchange in Australia 
  • Reliable and safe crypto trading app
  • Mobile trading app to buy and sell crpytocurrencies
  • Buy crypto with bank Transfer, debit card, Swipe, BPAY and cash
  • Customer support available 24/7

Ease of use

Reputation

Deposit methods

Fees

Coinspot

CoinSpot was founded in 2013 and has built up a solid reputation and trustworthy image for an Australian cryptocurrency platform. The exchange is focused on helping newcomers to buy Cardano (ADA) and cryptocurrency in Australia with AUD. Coinspot has historically been one the best place to buy Cardano in Australia over the last few years. 

coinspot

Features:

  • Simple and easy to use exchange to buy Cardano in Australia
  • Over 200 cryptocurrency coins to buy, trade and sell 
  • OTC and support for Australian Super Fund investors
  • Only exchange in Australia to meet ISO security standards
  • Deposit using POLi, PayID, BPAY and cash at local newsagency 
  • Customer support available 24/7

Ease of use

Reputation

Deposit methods

Fees

Best Way To Buy Cardano In Australia

There are several ways to invest in Cardano in Australia that depends on your payment method. If you prefer to use a regulated cryptocurrency exchange (which we recommend), then you should know that each digital currency provider can support different deposit methods.

Therefore, it's best that you decide to register with an exchange that supports your preferred payment method to buy Cardano. Use our guide below to see which common deposit methods are supported by our top rated Australian crypto exchanges. 

Buy Cardano Using A Bank Transfer

You can purchase Cardano using bank transfer (EFT) using a regulated cryptocurrency exchange in Australia. Bank transfers usually credit within the same business day depending on the bank. Most Australians will be familiar using an EFT transaction using their online bank account.

To complete a bank transfer, you need to obtain the BSB and Account Number of the exchange's bank account. This is not different from making a payment to anybody. You should note that bank transfer can take a bit longer to clear compared to other deposit method and it is easy to make an error. 

The following Australian crypto exchanges allow you to buy Cardano with a bank transfer: 

Buy Cardano Using PayID

Using PayID is an easy method to buy Cardano in Australian that is supported by most of the larger Australian banks. This is a near instant payment method, so it will suit investors that wish to make an immediate purchase.

AUD deposits will be credited to your account within minutes of being transferred from your bank account. All you need is the cryptocurrency exchange's PayID email address to make a deposit.

The following Australian crypto exchanges allow you to buy Cardano with PayID:

Buy Cardano Using POLi Payments

POLi is an instant deposit method that is available on several cryptocurrency exchanges in Australia to purchase Cardano. The deposit method allows you to complete the transaction from the exchange through an interface to your supported bank account. 

It works in the same way that you would normally visit your online bank website to make a payment. POLi payments are incredibly simple and only takes a few minutes to complete and the funds are transferred direct to the exchange.

The following Australian cryptocurrency support POLi payments to purchase Cardano: 

Buy Cardano Using BPAY

There are a handful of Australian cryptocurrency exchanges that allow you to buy Cardano with BPAY that include:

While this payment method is commonly used to pay bills in Australia, BPAY payments can take between 1 and 2 business days to clear.  So if you want to deposit funds quickly to buy Cardano, BPAY may not be the best option and you should consider using PayID or POLi which are near instant.

Buy Cardano Using A Cash Deposit

You can buy Cardano with a cash deposit in Australia using a regulated cryptocurrency exchange. You will still need to provide identification to comply with regulations in Australia even if you pay with cash. 

To buy Cardano with cash, you will need to complete the transaction at a supported newsagency across the country. This method does incur higher fees between 1.5% and 2.5%.  

The following Australian cryptocurrency exchanges allow you to buy Cardano with a cash deposit:

Buy Cardano Using A Credit / Debit Card

Generally, Australian banks do not permit the use of credit card to invest in Cardano. Therefore, you will find that most crypto exchanges in Australia do not have the option to deposit funds with a credit card.  

Depending on which bank you're with, it can still be possible to buy Cardano with a debit card. You should check with your financial institute or card issuer to find out if you can buy crypto with a debit card.

Otherwise, Australians can also buy Cardano with a debit card using the following global exchanges: 

  • Bank Transfer

  • PayID

  • POLi

  • BPAY

  • Cash Deposit

  • Debit / Credit Card

Buy Cardano Using Bank Transfer In Australia

You can purchase Cardano using bank transfer (EFT) via a regulated cryptocurrency exchange in Australia. Bank transfers usually credit within the same business day depending on the bank. Most Australians will be familiar using an EFT transaction using their online bank account.

To complete a bank transfer, you need to obtain the BSB and Account Number of the exchange's bank account. This is not different from making a payment to anybody. You should note that bank transfer can take a bit longer to clear compared to other deposit method and it is easy to make an error. 

The following Australian crypto exchanges allow you to invest in Cardano with a bank transfer: 

Step-By-Step Guide To Buying Cardano

Before you should buy any Cardano, it is recommended that you set up a digital hardware wallet to safely store your coins. Exchanges have online wallets but it's best to remove it totally offline to a device that you hold in your possession.  

Step 1 - Register Account

To create a new account with Swyftx, click the "Sign Up" button below. This will take you directly to the Swyftx registration page where you will be required to fill in your email, set a password, enter your name and phone number. Click "agree" to the terms and conditions and hit "Create My Account".

swyftx register

Step 2 - Verify Account and Activate 2FA

The verification process for Swyftx is incredibly simple and can be completed in 2 minutes.  To start the verification process, navigate to the side bar on the left and click "Profile" then under your name go to "Verification". This will bring up an online form where you will only be required to provide basic information.

swyftx verification

Once you completed all of the verification steps, you will want to activate the two-factor authentication on your account. This is essentially another security layer to keep your funds safe and secure.

To get started, go to the "About" page and click "Setup MFA". Follow the prompts to install the Google Authenticator App on your smart device and enter the token that appears once you have scanned the QR code.

swyftx 2fa

Step 3 - Deposit AUD

The next step is to click the "Deposit AUD" link on the left side bar. Here you will be able to choose the amount of Australian Dollars that you wish to deposit. Once you are on the deposit page, you can fund your Swyftx account with Australian Dollars (AUD) using either PayID (instant) or BPAY (within same business day).  

swyftx deposit AUD

Step 4 - Buy Cardano

Now that your account is verified and you've deposited AUD (or BTC), you can start buying and selling cryptocurrency. To get started, click "Trade" on the left side bar. This will bring up the "Assets" list where you can search and select any cryptocurrency. Swyftx has over 70+ crypto assets to trade and growing.

Cardano ADA

Select Cardano that you wish to buy, sell or trade and it will display the current price against AUD. Now select how much AUD you want to spend on the coin and click "Instant Buy". The Cardano amount will be purchased, show in your trade history and stored in the Swyftx wallet.

That's it! You have now purchased Cardano using Swyftx.

How To Trade Cardano In Australia

To trade Cardano in Australia, follow these simple steps:

  1. Register an account with a cryptocurrency trading exchange such as Binance
  2. Complete the signup registration process and verify your email  
  3. Go to the navigation menu and Click 'Wallet'
  4. Select 'Cardano' or another cryptocurrency and click on 'Deposit' 
  5. Transfer funds to the exchange from your hardware wallet
  6. Go to the “Trade” menu and select another crypto to trade against (e.g. Bitcoin)
  7. Enter the amount of crypto you want to buy or sell
  8. Confirm the order details and confirm the trade  
binance charts

Frequently Asked Questions

What Is Cardano?

Cardano is a blockchain project that aims to provide a secure and scalable means of transfer for Governments, businesses and individuals. It uses the cryptocurrency "ADA", which can be used to send and receive digital funds. The project was founded by Charles Hoskinson, co-founder of Ethereum, to “provide a more balanced and sustainable ecosystem” for cryptocurrencies.

The vision of Cardano is to represent the future of money, making quick and direct digital currency transfers that is secure through the use of the blockchain. It is a technological platform intended to allow for financial applications to be used by everyone from individuals to governments.

What Are The Differences Between Cardano and Ethereum?

Cardano is a third generation decentralized blockchain based system powered by the ADA coin that aims to improve the cryptocurrencies that came before it such as Bitcoin and Etherium. Cardano aims to improve on the scalability issues with Bitcoin. It is also similar to Ethereum as a smart contract platform that can be used to run decentralized applications but in a much more efficient way. 

Often regarded as the original smart contract platform, Ethereum has broken ground and developed remarkable potential that can be achieved using blockchain technology across different industries using smart applications. However, there are still hurdles that need to be overcome such as scalability, interoperability, transaction speed and sustainability.

This is where Cardano comes in it to solve these pre-existing limitations of second generation smart contractor platforms. Whether Cardano can achieve these goals remains to be seen, but it is often regarded as taking the best features from Bitcoin's decentralized payment system and Ethereum’s smart contract platform and support for decentralized applications.

Should I Invest In Cardano (ADA)?

Just like any other financial product, trading and investing in ADA involves substantial risk of losing your capital and is not suitable for every investor. It is possible to make a lot of money investing in cryptocurrencies if you pick the right one and at the right time.

But there are also many risks to be cautious of before you decide to invest in Cardano. 

Conclusion: Best Place To Buy Cardano In Australia

If you're looking for the best exchange to buy and sell Cardano (ADA) in Australia, we hope this guide was useful. With any financial investment, make sure to do your own research and due diligence on the crypto provider before depositing any funds.

If you don't have a hardware wallet, we suggest that you read our review on the best crypto hardware wallets so you can keep your Cardano investment safe.

If you found this article useful, feel free to share it with your social network.

Few more related articles to read:

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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.

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