Top ‘bitcoin-Only Brokers’ in Australia
1. paybtc
paybtc stands out as a swift and secure option for engaging directly with bitcoin. This exchange is celebrated for its straightforward user interface, exceptional customer support, and emphasis on self-custody, ensuring that users maintain control over their digital assets.
How does paybtc work?
The process to buy bitcoin on paybtc is refreshingly simple: enter your email, bitcoin wallet address, and purchase amount. Following this, you select the "Pay" option and use the PayID sent to your email to complete the transaction through your banking app or platform. The bitcoin is instantly released to your wallet once payment is confirmed.
Pros
- Simple and easy interface
- Non-custodial
- Enables bill payments with bitcoin
- Outstanding customer service
2. Bitaroo
Based in Brisbane, Bitaroo is a bitcoin-only exchange that allows for the purchase of BTC using the Australian Dollar (AUD). This platform caters to the local market with features designed to facilitate easy access to bitcoin.
How does Bitaroo work?
To use Bitaroo, one must first register for a trading account. Once set up, users can deposit AUD through several methods, including PayID, OSKO, or NPP. Following the deposit, they are then able to purchase BTC directly.
Pros
- Auto-Dollar-Cost-Averaging (DCA) feature
- Availability of mobile apps for both iOS and Android
- Support for Lightning Network transactions
Cons
- Potentially intimidating advanced user interface for beginners
3. Amber App
Amber App markets itself as a convenient bitcoin app for both accumulating and spending bitcoin, offering users the ability to buy and sell BTC on the move as well as automate their bitcoin investments via dollar-cost averaging.
How does Amber App work?
By downloading the mobile app and creating an account, users can easily deposit AUD using PayID or EFT transfer. Once funds are cleared, bitcoin is deposited into the app’s built-in wallet, from which it can then be transferred to a personal wallet of choice.
Pros
- User-friendly interface
- Mobile support for iOS and Android
- Lightning Network integration
Cons
- Lacks advanced charting features
4. HardBlock
HardBlock operates with a mission to foster bitcoin sovereignty within Australia, acting as a bitcoin-only exchange designed for those dedicated to investing in bitcoin without distractions.
How does HardBlock work?
Opening a trading account with HardBlock is straightforward, requiring just a name and email address. With numerous funding options like PayID, EFT, and POLi payments, users can quickly purchase BTC, which can then be transferred to an external wallet for secure storage.
Pros
- User-friendly interface
- Automatic DCA functionality
- Automatic transfers of bitcoin to cold storage for enhanced security
Cons
- Does not feature advanced charting tools
Conclusion: Which broker to prefer?
Selecting the right bitcoin-only broker in Australia ultimately depends on individual investment goals and preferences. Each of the platforms mentioned offers unique advantages tailored to different aspects of the bitcoin investment journey. Prospective investors would benefit greatly from conducting thorough research and considering their specific needs before committing to a broker. In the dynamic world of cryptocurrency, making informed choices is paramount to achieving investment success.
