How to Buy Bitcoin (BTC) in Australia

Bitcoin was the world’s first cryptocurrency and, as you’ve probably already seen, has revolutionised the financial landscape since its first appearance in 2009. As a decentralised digital currency, Bitcoin is not only an alternative to fiat currencies and physical cash but also an investment opportunity for Australians looking to diversify their portfolios with a different asset type. 

Buying Bitcoin in Australia has become more straightforward and secure in recent years, with many investors using local platforms like CMC Invest to sign up, verify their ID quickly and deposit AUD instantly via PayID. This process allows investors to purchase Bitcoin within minutes, starting with as little as $25. 

What you’ll learn about Bitcoin in this article: 

• What Bitcoin is and how it works 

• Benefits and risks of investing in Bitcoin 

• Different methods of investing in Bitcoin 

• How to buy Bitcoin step-by-step with CMC Invest 

What is Bitcoin? 

Bitcoin is a decentralised digital asset that operates on a blockchain – a public ledger that records every transaction for not only tighter security but also greater transparency. Each Bitcoin transaction is verified by network participants (miners) using cryptographic techniques. Think of it as a way to ensure the system stays secure without the need for a central authority, such as a bank or government. 

One of the most interesting features of Bitcoin is its fixed supply – only 21 million Bitcoins will ever be created. Such scarcity, combined with increasing demand for the cryptocurrency, has seen Bitcoin’s price surge over the years. As the first cryptocurrency, many investors see Bitcoin as an attractive store of value and a decentralised alternative to traditional fiat currencies, like the Australian dollar.  

Key Features

• Decentralisation:  Bitcoin operates on a global network of independent computers (nodes) without any central authority like a bank or government controlling it, making it resistant to censorship and single points of failure. 

• Peer-to-peer transactions: Users can send Bitcoin directly to one another over the internet without needing intermediaries, enabling fast, borderless value transfer. 

• Blockchain technology: All Bitcoin transactions are recorded immutably on a public, distributed ledger called the blockchain, which ensures transparency and prevents tampering or double-spending. 

• Fixed supply cap: Bitcoin has a hard coded maximum supply of 21 million coins, creating programmed scarcity through its underlying protocol. This fixed issuance schedule is designed to limit supply growth over time, which some investors compare to other scarce assets such as gold. 

Why invest in Bitcoin? 

While every investor will have their own reasons for looking into Bitcoin, there are several compelling features to the cryptocurrency: 

• Potential for returns: Bitcoin has a history of volatility, and its price has risen dramatically over the past decade. While volatility is inherently risky, it also means there’s potential for returns, making Bitcoin an attractive option for long-term investors willing to ride out any short-term dips. 

• Diversification: Bitcoin can behave differently from traditional asset classes (such as stocks, bonds or real estate). As a result, it offers diversification to investors wanting to hedge against risks in other parts of their portfolios. 

• Store of value: While Bitcoin’s price is volatile in the short term, it may preserve purchasing power in the long run. In a world where central banks can increase the money supply, leading to inflation and currency devaluation, Bitcoin’s fixed supply offers a potential way to preserve purchasing power. This is especially relevant in emerging economies where inflation can erode currency value, turning Bitcoin into a potential hedge against economic instability. 

• Network effects and adoption: Bitcoin is a household name today and has experienced widespread adoption, with estimates suggesting that more than 100 million people worldwide own Bitcoin. Moreover, the Bitcoin network currently processes approximately 400,000 transactions daily, and its market capitalisation exceeded $2 trillion in December 2024. 

Different ways to buy in Bitcoin in Australia

There are several ways to gain exposure to Bitcoin. It’s important to thoroughly research each option before investing, as they can carry varying levels of exposure and risk: 

Buy Bitcoin (BTC) directly

• One way to invest in Bitcoin is to purchase it directly through a broker like CMC Invest, allowing you to gain exposure to its price movements.  

• Buying Bitcoin through a broker means you retain beneficial ownership of your holdings while the platform manages secure storage using institutional-grade, enterprise-level digital asset infrastructure.  

Buy a Bitcoin ETF or trust

• Investors seeking exposure to Bitcoin without directly holding or managing the cryptocurrency may consider Bitcoin ETFs (exchange-traded funds) or listed trusts. These vehicles are designed to track the price of Bitcoin and can be accessed through a standard brokerage account, including platforms such as CMC Invest. 

• Some popular examples include the iShares Bitcoin Trust (IBIT), Grayscale Bitcoin Trust (GBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC). Bear in mind that ETFs come with management fees.  

Bitcoin-related equities:

• Another way to invest in Bitcoin indirectly is by buying shares in companies that hold Bitcoin or are involved in the cryptocurrency industry, such as Bitcoin mining companies.

• However, this strategy could expose you to further company-specific risks that might not be directly tied to Bitcoin’s price. 

Things to consider when buying Bitcoin

Fees 

Fees can vary depending on the platform you use to buy cryptocurrency. For example, CMC Invest charges a flat 0.90% brokerage fee on the total value of Bitcoin (BTC) and other cryptocurrency trades. As cryptocurrency ETFs available on CMC Invest are traded in USD, an FX spread will also apply to your order.

Payment method

When buying crypto with CMC Invest, you can fund your account using a credit or debit card, bank transfer, PayID or PayPal.

How to buy Bitcoin with CMC Invest

If you’re an investor in Australia looking to buy cryptocurrency, CMC Invest offers access to Bitcoin and a selection of other coins through its integrated investing platform, providing an accessible way to start investing. Below is a step-by-step guide for new and existing CMC Invest customers on how to invest in Bitcoin: 

1. Open a CMC Invest account

Get started by opening a CMC Invest account. You’ll get access to a wide range of investment products, including unregulated Bitcoin and other cryptocurrencies like Solana and Ethereum, as well as traditional asset types. 

2. Opt-in for cryptocurrency investing

Once your account is set up, you’ll have access to over 45,000 stocks and ETFs as standard. If Bitcoin or other crypto interests you, you’ll need to opt-in to access unregulated blockchain assets like Bitcoin. 

3. Research Bitcoin

Before investing, you’ll want to give yourself a solid base of understanding Bitcoin’s fundamentals and general market trends. CMC Invest has a range of educational resources and powerful charting tools to help investors make the best decisions for their portfolios. 

4.Start investing in Bitcoin

Once you’ve opted in, you can start buying Bitcoin directly from the CMC Invest platform via the mobile app or desktop version.

Why buy Bitcoin with CMC Invest

• One platform. One account

Build your portfolio in one place with shares, ETFs and crypto.

• Easier and clearer

No wallets. No transfers. Just crypto investing like buying a share.

• Trusted platform

Invest in crypto on the award-winning platform backed by 30 years' experience.

• Transparent, flat-fee pricing

A flat brokerage of 0.9% applies to all cryptocurrency orders. As cryptocurrency ETFs available on CMC Invest are traded in USD, an FX spread will also apply to your order. With no ongoing fees, there are no surprises, and you only pay when you trade.

Risks of investing in Bitcoin

 While Bitcoin has the potential to deliver returns, it’s important to think about all the risks associated with the cryptocurrency: 

•  Volatility: Bitcoin’s value can fluctuate greatly over short periods of time, driven largely by factors like market sentiment, regulatory news, market cycles and even geopolitical events. Investors must be prepared for unexpected price swings, so consider whether you have the risk appetite for such volatility. 

• Regulatory risks: As Bitcoin and other cryptocurrencies have gained popularity, they have faced regulatory scrutiny. Changes in regulations could impact Bitcoin’s price and long-term viability as an investment. 

• Speculative nature: Bitcoin is still a relatively young asset, and its long-term role in the global financial system remains to be seen. As a speculative investment, you should only commit capital you are willing to lose. 

Conclusion 

Bitcoin has rapidly grown from a niche digital currency to one of the most recognisable assets in the world. However, while Bitcoin does present the potential for returns, it also comes with substantial risks. With CMC Invest, you can start investing in crypto like Bitcoin on an awarded platform, with expert tools and resources to help you along the way. 

If you’re ready to begin your Bitcoin investment adventure, sign up for a CMC Invest account and start exploring how this popular cryptocurrency could broaden your investment portfolio. 

Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information and education purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment, tax or other advice on which reliance should be placed and is warranted to be complete, accurate, or timely. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. 

All investment involves risks. Past performance is not a reliable indicator of future results. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination. The content of this article may contain information based on materials published by third parties. CMC Markets makes no representations as to the accuracy or completeness of such information and accepts no responsibility or liability in connection with any reliance on such information. 

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. It is important to verify the Information before making any investment decisions and refrain from doing so solely based on this Information without seeking advice from a professional financial adviser. 

The provision of cryptocurrency services and products will not be treated similarly to the provision of regulated financial services or products and you are not afforded the same client protection provisions offered by the Corporations Act 2001 (Cth) as you would trading regulated financial products or receiving regulated financial services. Cryptocurrencies are held with a sub-custodian.  

Investing in cryptocurrencies carries significant risks and is not suitable for all investors. You may lose all your money you paid. Consequently, you should consider the information in light of your objectives, financial situation and needs and do your own research. It’s important for you to consider the relevant Digital Assets Terms of Service and other associated disclosure documents on the CMC Markets Invest website before you decide whether or not to acquire any of the Cryptocurrencies. Please also note that you are not currently able to send Cryptocurrencies to or from your trading account, or use Cryptocurrencies purchased on CMC Markets’ Platform to pay for goods or services.