How To Buy Cardano (ADA) In Australia

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

To help you get started buying crypto in Australia, we have conducted extensive research and assessed the important considerations when looking for an exchange. These include support for ADA, trading fees, deposit limits, payment methods, safety and security and customer support. Here are examples of the best Australian crypto platforms based on Hedge With Crypto's reviews.

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Swyftx	320+	0.6%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.9 / 5	$20 Bitcoin for creating a verified account	Visit Swyftx	Swyftx Review
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
CoinSpot	380	1% (instant), 0.1% (spot)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$20 Bitcoin for creating a verified account and depositing	Visit CoinSpot	CoinSpot Review
Digital Surge	300+	0.5%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$10 Bitcoin for creating a verified account	Visit Digital Su…	Digital Surge Re…

Guide To Buying Cardano In Australia

1. Create An Account With An Exchange

The first step to making a Cardano purchase is to create an account with a cryptocurrency platform in Australia such as Swyftx. To get started, visit the Swyftx website using this link for a Swyftx referral promo to get a free $20 BTC credit. This will redirect to the registration page that will show the promotion code. Enter a valid email address, set a strong password, full name and phone number. Click “Agree” to the terms and conditions and hit “Create My Account”.

2. Complete Identity Verification

Once an account has been created, the next step is to commence the ID verification process in accordance with Know Your Customer (KYC) and Counter Terrorism Financing (CTF) regulations under Australian law. Before a wallet can be funded with AUD to deposit and withdraw funds, the account must be verified as per the rules set by AUSTRAC.

Using Swyftx as an example, the verification process is fast and hassle-free which can be completed within 2 minutes of creating a new account. To start verification, login to the account and navigate to the ‘Verification' tab under the ‘Profile Tab'. A valid email address, mobile phone number or identity document number will need to be provided.

3. Secure Account & Activate 2FA

To protect any funds within a crypto exchange account, it is vital to increase the basic account security level and turn on Two Factor Authentication (2FA). This should be the first step after verifying an account and prior to depositing any funds. 2FA is a specific type of multi-factor authentication that requires two methods to verify the user's account and even withdrawal requests. Popular 2FA apps for multi-factor authentication are Authy and Google Authenticator which can be downloaded for both iOS and Android devices.

4. Deposit Funds In AUD

Finding an exchange that accepts local deposit methods using Australian Dollars is an important consideration. The majority of cryptocurrency exchanges in Australia have direct AUD payment methods with varying fees. The most common deposit options include bank transfer, POLi and PayID. 

POLi connects to Australian Bank accounts and is processed instantly. PayID and bank transfers can take between 1 and 3 business days. Alternative payment methods that are available with certain Australian exchanges include cash deposit at a local newsagency, BPAY and credit cards. Swyftx is one of the few exchanges in Australia that allows using a credit card to buy crypto.

5. Buy Cardano

Once an account is verified and funded with AUD, the next step is to buy Cardano. To get started, click “Trade” on the left sidebar. This will bring up the “Assets” list where you can search and select Cardano. Select how much AUD you want to spend and click “Instant Buy”. The ADA amount will be purchased, shown in your trade history and stored in the Swyftx wallet.

Cardano Exchanges In Australia: Reviews

1. Swyftx

Swyftx is an AUSTRAC-registered Australian cryptocurrency trading platform with over 660,000 users that provides a simple and transparent way for individuals to invest in Cardano. The platform offers excellent features that will suit various types of investors such as rapid AUD deposits and withdrawals, portfolio tracking, recurring orders, a demo mode and price alerts.

Swyftx is a fully licensed and registered exchange in Australia that complies with KYC/AML procedures to safeguard the deposited funds and personal information. This does not slow down the registration process which is straightforward and fast compared to other well-established Australian crypto exchanges. There is no ID documentation upload process or need to take selfies.

There are over 320 cryptocurrency coins supported on Swyftx that can be purchased using common payment methods in Australia that include bank transfers, POLI, PayID and a credit card. There are no deposit withdrawal fees to a bank account which are processed on the same day.

2. CoinSpot

CoinSpot was founded in 2013 and has built up a solid reputation as a leading Australian cryptocurrency exchange that is focused on helping people buy Bitcoin and a wide range of cryptocurrency coins with AUD. The exchange is regarded as one of the best crypto wallets in Australia with bank-like security measures to protect its customer's information and funds secure.

Coinspot Australia has never been hacked and is the first Australian trading platform to receive the internationally recognized ISO 27001 certification for information security. Funds stored in a Coinspot wallet are well-secured until transferred to a personnel hardware wallet. The exchange offers two-factor authentication (2FA) on individual accounts which requires a code from a registered mobile device to login into the platform.

Overall, based on our assessment of Coinspot and comparison to other exchanges in the country, we have rated Coinspot as one of the best exchanges due to its high reputation and trustworthiness in the industry.

3. Digital Surge

Digital Surge is a Brisbane-based digital currency exchange that provides a fast and easy way to buy and sell digital currency using AUD. The platform has focused on providing a user-friendly exchange website for everyday Australians to get started with crypto assets. 

The exchange features a portfolio viewer to show the overall investment performance. Customers can monitor their favorite coins within a personal Watchlist to quickly see which coins are performing the best (and worst) with the Top Gainers list. An easy click-through on any of them will transfer to a full detail page of each asset. The exchange also allows individuals to pay bills using crypto.

Digital Surge has a trading fee of 0.5% and spreads as low as 0.4% per transaction. This is comparable to brokers such as Swyftx (0.6%) which uses a similar fee structure. There are no fees to deposit and withdraw Australian Dollars directly with a local bank which are processed near-immediately. In our opinion, Digital Surge is one of the best options in Australia to get started with cryptocurrency due to its ease of use, rapid AUD deposit and withdrawals, responsive customer support, and minimal fees.

Frequently Asked Questions