Bitcoin Cash (BCH) remains one of the most recognized cryptocurrencies in the digital asset space, offering fast transactions and low fees. For Australians looking to enter the world of crypto, purchasing BCH has never been easier. Whether you're a beginner or an experienced investor, this comprehensive guide walks you through the entire process of buying Bitcoin Cash in Australia—safely, securely, and efficiently.
With regulated exchanges, multiple payment options, and growing adoption, Australia is well-positioned as a crypto-friendly nation. Let’s explore how you can get started with Bitcoin Cash in just four simple steps.
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Why Buy Bitcoin Cash (BCH)?
Before diving into the purchase process, it’s important to understand what Bitcoin Cash is and why it matters. Born from a 2017 hard fork of Bitcoin, Bitcoin Cash was designed to scale more effectively by increasing block sizes, allowing for quicker and cheaper transactions. This makes it ideal for everyday use and peer-to-peer payments.
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Step-by-Step: How to Buy Bitcoin Cash (BCH) in 4 Steps
Step 1: Compare Cryptocurrency Exchanges
Not all crypto platforms are created equal. When buying Bitcoin Cash in Australia, it's crucial to choose a reputable exchange that supports BCH, offers AUD trading pairs, and complies with local regulations.
Look for features like:
- Strong security protocols (e.g., two-factor authentication, cold storage)
- Low trading and withdrawal fees
- Fast deposit and withdrawal methods
- User-friendly interface
- Responsive customer support
Top Australian-friendly exchanges often provide direct AUD-to-BCH trading, making the onboarding process seamless.
Step 2: Create and Verify Your Account
Once you’ve selected an exchange, sign up by providing basic information such as your name, email address, and phone number. Most platforms require identity verification (KYC) to comply with AUSTRAC regulations.
You’ll typically need to upload:
- A government-issued ID (e.g., driver’s license or passport)
- Proof of address (e.g., utility bill or bank statement)
Verification times vary but usually take just minutes to a few hours. Once approved, you gain full access to trading features.
Step 3: Deposit Funds in AUD
After verification, fund your account using one of several available methods:
- Bank transfer (OSKO or PayID for instant transfers)
- POLi Payments (direct bank integration)
- Debit or credit card
- Electronic funds transfer (EFT)
Choose the option that best suits your needs. Card deposits are faster but may come with higher fees. Bank transfers are cost-effective but can take slightly longer.
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Step 4: Buy Bitcoin Cash (BCH)
Now that your account is funded, navigate to the trading section and search for the BCH/AUD pair. Enter the amount of Bitcoin Cash you’d like to purchase, review the transaction details—including fees—and confirm your order.
Your BCH will be credited to your exchange wallet immediately. For long-term holding, consider transferring it to a secure hardware wallet like Ledger or Trezor to reduce exposure to online threats.
Best Platforms to Buy Bitcoin Cash in Australia
1. Binance
Binance is one of the largest and most trusted cryptocurrency exchanges globally, serving millions of users across over 180 countries. Founded in 2017 by Changpeng Zhao, Binance offers a robust platform with advanced trading tools, high liquidity, and strong security measures.
In Australia, users can buy Bitcoin Cash directly using AUD via credit/debit cards or bank transfers. While purchase fees range between 1.5% and 3.5%, trading fees remain among the lowest in the industry at just 0.1%.
Key features:
- Over 300 supported cryptocurrencies
- Fast KYC verification
- Mobile app for iOS and Android
- Binance Coin (BNB) integration for fee discounts
Binance is ideal for both beginners and active traders seeking variety and reliability.
2. Easy Crypto
Launched in 2017, Easy Crypto is a locally focused platform designed with simplicity in mind. It’s particularly popular among first-time buyers due to its intuitive interface and wide range of payment options.
Australians can purchase BCH using:
- POLi
- OSKO
- Direct bank deposits
- Account-to-account transfers
Easy Crypto is registered with AUSTRAC (DCE100581366-001), ensuring compliance with Australian financial regulations. Transactions settle quickly, and funds can be sent directly to personal wallets for added security.
This platform stands out for its ease of use and strong local support—perfect for those new to crypto.
3. Independent Reserve
As a fully Australian-owned exchange, Independent Reserve has built a solid reputation since its launch. With over 200,000 customers and trusted by more than 8,000 self-managed superannuation funds (SMSFs), it’s a go-to choice for serious investors.
Features include:
- 24/7 customer support based in Sydney
- Advanced security including multi-signature wallets
- AUD trading pairs for major cryptocurrencies
- Transparent leadership—CEO Adrian Przelozny is on the board of Blockchain Australia
Independent Reserve supports Bitcoin Cash along with other top digital assets like BTC, ETH, XRP, DOT, and USDT.
Frequently Asked Questions (FAQ)
Q: Is it legal to buy Bitcoin Cash in Australia?
A: Yes, Bitcoin Cash is legal to buy, sell, and hold in Australia. The country has clear regulatory frameworks managed by AUSTRAC and the ATO, which classify cryptocurrencies as property for tax purposes.
Q: How do I keep my Bitcoin Cash safe after buying?
A: After purchasing BCH, transfer it to a private wallet—preferably a hardware wallet like Ledger or Trezor. Avoid leaving large amounts on exchanges due to potential security risks.
Q: Are there taxes on Bitcoin Cash transactions?
A: Yes. The Australian Taxation Office treats crypto transactions as taxable events. Capital gains tax (CGT) applies when you sell, trade, or dispose of BCH. Keep detailed records of all transactions.
Q: Can I buy fractional amounts of Bitcoin Cash?
A: Absolutely. You can buy as little as $1 worth of BCH on most platforms, making it accessible even with a small budget.
Q: How long does it take to buy BCH online?
A: Account verification may take minutes to a day. Deposits via card are instant; bank transfers via OSKO/POLi typically settle within minutes. The actual purchase takes seconds once funds are available.
Q: What are the fees involved in buying BCH?
A: Fees vary by platform. Expect 1.5%–3.5% for instant buys via card and lower rates (around 0.1%) for market trades. Withdrawal and network fees also apply when moving coins off-exchange.
Final Tips for Buying Bitcoin Cash Safely
Always prioritize security when entering the crypto space:
- Enable two-factor authentication (2FA)
- Use unique passwords and a password manager
- Double-check wallet addresses before sending funds
- Beware of phishing websites and scams
Diversifying your portfolio beyond BCH can also help manage risk. Consider pairing your investment with established assets like Bitcoin or Ethereum.
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By following this guide, Australians can confidently buy Bitcoin Cash through reliable platforms while staying compliant with local laws. With user-friendly exchanges, strong regulation, and growing adoption, now is an excellent time to explore what BCH has to offer.