How to Buy Altcoins in Australia

Key Takeaways

• Altcoins are cryptocurrencies alternative to Bitcoin, including Ethereum, Cardano, Binance Coin, XRP, Dogecoin, Solana, Polkadot, and Uniswap.
• Purchase altcoins on AUSTRAC-registered exchanges like CoinSpot by creating an account, verifying your identity, and depositing AUD.
• Store altcoins in a personal wallet for enhanced security instead of leaving them on exchanges.

What Are Altcoins?

Altcoins ("alternative coins") refer to any cryptocurrency other than Bitcoin. Popular examples include:

• Ethereum (ETH)
• Cardano (ADA)
• Binance Coin (BNB)
• Dogecoin (DOGE)

👉 Explore top altcoins

Where to Buy Altcoins in Australia

To avoid scams, use reputable exchanges registered with AUSTRAC, such as:

1. CoinSpot – User-friendly with 530+ altcoins and staking options.
2. Crypto.com – Best for beginners.
3. Swyftx – Supports debit/credit card deposits.

Step-by-Step Guide to Buying Altcoins

Step 1: Compare Crypto Exchanges

Choose platforms with strong security, low fees, and a wide coin selection.

Step 2: Create an Account

• Sign up with an email and password.
• Complete identity verification (e.g., driver’s license).

Step 3: Deposit AUD

Use methods like:

• Bank transfer
• POLi (instant and free)
• PayID

Step 4: Buy Altcoins

1. Navigate to "Buy/Sell."
2. Select your altcoin (e.g., XRP).
3. Enter the AUD amount and confirm.

👉 Start trading today

Storing Altcoins Securely

Transfer altcoins to a personal wallet (hot or cold) instead of keeping them on exchanges. Always verify wallet compatibility to avoid irreversible losses.

FAQ

Is buying altcoins legal in Australia?

Yes, it’s 100% legal.

Can I buy altcoins with PayPal?

Most exchanges don’t support PayPal. Use bank transfers or PayID instead.

How do I buy altcoins instantly?

Platforms like Easy Crypto Australia enable direct purchases via bank transfers.

Are altcoin purchases safe?

Yes, if using AUSTRAC-registered exchanges like CoinSpot or Swyftx.

Comparison of Top Australian Exchanges

| Exchange | Supported Coins | Deposit Methods | Fees |
|----------------|-----------------|--------------------------|--------------|
| CoinSpot | 530+ | PayID, POLi, Bank Transfer | 0.1%-1% |
| Swyftx | 400+ | Debit Card, PayID | 0.5% |
| Crypto.com | 280+ | Credit Card, Apple Pay | 0.1% (spot) |

👉 Learn more about secure trading

Final Tips

• Research altcoin projects before investing.
• Diversify your portfolio.
• Use hardware wallets for long-term storage.

For further reading, check out our guide on crypto security best practices.

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