Getting Started
If you have ever wondered how to buy crypto in Australia, you are not alone.
Finder’s Cryptocurrency Index shows that approximately 3.3 million Australians own a cryptocurrency.
But, even with the large number of Australians that own crypto, awareness and understanding among Australian consumers remain low, according to Statbox.
You are more likely to hear about Bitcoin or Ethereum at a family barbecue, on the telly, or from a mate who swears they made a fortune.
Most people have heard about the most popular coins, Bitcoin, Ethereum and Dogecoin and ignore them at first.
I mean, you’ve got rent, bills, and now you are expected to learn about this new type of financial currency?
No thanks.
It’s much easier to place crypto in the “too hard basket” because it feels complicated and unnecessary.
A reason why adoption remains low in Australia compared to other countries
But the first conversation plants the seed of the idea, and you see your friend at the next BBQ.
Then the conversation comes up again, someone mentions how much money they made, and fear of missing out, or FOMO, starts to rear its ugly head.
This cycle is very common.
Most people let the fear of the unknown, the fear of bureaucratic red tape, get in the way of their crypto journey.
But, here at Wayex, we are happy to tell you that the good news is that buying crypto in 2025 is much easier than you might think!
Wherever you are on your crypto journey, from curious about Bitcoin or looking to purchase your first crypto.
This guide will show you exactly how to get started in Australia.
What You Need To Know Before You Start
Crypto and blockchain are still young technologies.
Like any emerging sector, it is easy to get caught up in the excitement or feel pressure from the fear of missing out.
Right now, artificial intelligence is the buzzword, but crypto was and still is one of the biggest conversations in finance and technology.
Before you dive in, it’s important to do your due diligence and understand whether crypto suits your investment goals.
In the crypto world, we call this DYOR or “Do your own research”.
This is something to be critically aware of when you start to jump into the world of crypto.
Crypto is still developing and being used in different ways, but many investors see it as a safe place to store value, a way to protect against rising prices, and part of a bigger change in how people think about money.
That doesn’t mean you have to get involved. A good first step is to ask yourself:
- What is my goal in investing?
- How long am I willing to invest for?
- How will I decide which coins or projects to back?
Answering these questions will help you approach crypto with clarity and enable you to make decisions that align with your financial plan, rather than chasing hype.
Step 1: Choose a Trusted Crypto Exchange in Australia
Before you can buy crypto, you need a platform to trade on. This is called a crypto exchange.
When choosing an exchange, look for a company with:
- A solid track record and years of experience
- Verified reviews and testimonials
- A proper verification process and regulation in place
- A simple app or website that makes it easy to use
In Australia, you will hear about exchanges like Binance, Coinbase, Coinspot, Swyftx and Wayex. If you want to see how they compare, read Best Crypto Exchanges in Australia 2025, reported by Koinly.
This is where Wayex stands out.
Wayex has been operating for more than 5 years, is rated 4.5 on Trustpilot, and offers zero trading fees for your first 30 days. You also get access to 24/7 live chat support, which is a big plus when you are starting out.
Step 2: Create Your Wayex Account
Download the Wayex app on iOS or Android. You can sign up with your Apple ID, Google account or email. Make sure you create a strong password.
Sign up on Wayex today and get started.
Step 3: Verify Your Account (KYC)
Just like when you open a new bank account, you will need to prove your identity. This process is called KYC, which stands for “Know Your Customer.”
Australian exchanges are regulated by AUSTRAC and ASIC, which means you will need to provide your details and upload ID such as a driver’s licence or passport.
Most Australians use their driver’s licence because it’s the fastest option. In many cases, verification is instant, but if the details don’t match your records, it can take a little longer.
Wayex has made this process simple. If you have your documents ready, it only takes a few minutes to complete.
Learn more about the verification process.
Step 4: Deposit AUD Into Your Account
Before you can buy crypto, you need to fund your account with Australian dollars. On Wayex you can deposit AUD instantly using PayID, card, or by sending money from your bank account.
Learn more about depositing AUD.
Step 5: Buy Your First Crypto
Once your account is funded, you can buy your first crypto. It only takes a few clicks.
On Wayex, you can buy Bitcoin, buy Ethereum, or explore other coins like XRP. If you are new to Wayex, you get zero trading fees for the first 30 days, which means you can enter the market without paying any fees.
Step 6: Store Your Crypto Safely
After you buy crypto, the next step is to keep it safe.
Wayex is a custodial wallet, which means your funds are held securely but you can always access them. This is similar to how your bank looks after your money but gives you access whenever you need it.
Some people also use decentralised wallets, where you hold your own keys. This gives you full control but also full responsibility. If you lose your keys, you lose your funds. For beginners, a custodial wallet like Wayex is often the simplest and safest place to start.
To understand the difference in more detail, read Cointelegraph’s Decentralised vs Centralised Finance.
Final Thoughts
Now you know how to buy crypto in Australia. From setting up your account, verifying your identity, funding it with AUD, and finally buying Bitcoin or Ethereum, the process is simple and quick.
The next step is to put this guide into practice and start your journey today.
**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Wayex to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of Wayex products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.
