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How to Buy and Trade Ethereum in Australia? Everything You Need to Know

|Updated March 14, 2023 07:56

Ethereum’s success in the crypto market has always played second fiddle to Bitcoin. It trades significantly below the latter despite having a few advantages. Nonetheless, you are on the right path if you want to know how to buy Ethereum in Australia.

The blockchain moved to proof-of-stake consensus on September 6, 2022. This move brought a predicted 99.5% drop in power consumption compared to when it was on proof-of-work consensus. That makes buying the coin now look more profitable.

There is more to buying Ethereum in Australia than meets the eye. We will run down all the essentials, including the best crypto trading platforms, to get the coin. Then you'll be fully prepared to take the next step with ease.

Ethereum (ETHUSD) live price chart Today

Start Trading ETHUSD! 

Set Out Your Purpose for Buying Ethereum

You might see ETH’s price of $1,715.5 as of February 20 and assume its affordability. You will not be wrong, considering the crypto climbed to $4,810.07 during its peak performance in November 2021.

With many predicting a renewed bullish market for the major cryptocurrencies, now may be the best time to accumulate some ETH. But what is your purpose for buying it?

Like many in the crypto industry, you want to profit from your investment. You can do that in two ways:

  • Day trading the asset as the price changes

  • Holding the asset until its value appreciates considerably

Both approaches can lead to profitability. However, they carry specific risks you should know about before you buy Ethereum with AUD.

The day trading approach requires quick predictions of market movement. You must constantly monitor the market, hence "Day Trader." In addition, it requires an extensive understanding of technical and social indicators.

Even with robust tools, no one can accurately predict the next price of ETH. That makes holding for future appreciation more appealing.

The latter carries less risk but requires more grit. Can you hold your ground when the cryptocurrency’s price goes on a free fall? If you choose to keep your asset, these and many more questions will plague you.

If it is anything to buy, Ethereum has maintained a 15% market dominance since April 2021. Even when it falls, we don’t expect it to stay on the ground for too long.

Popular Ways of Buying Ethereum in Australia

The best way to buy Ethereum is not rocket science. It is closer than you think, especially if you have been in the stock or forex trading market. Being a cryptocurrency does add a few peculiarities, but nothing too complex. You can buy ETH in the following ways:

Through a Crypto Exchange

If you are a cryptocurrency enthusiast, an exchange will be your best approach to buying Ethereum in Australia. That is because of the familiar territory and dedication to cryptos, unlike online brokers that accommodate other assets.

Cryptocurrency exchanges, like Binance, are all over the place. It is easy to find one, sign up for it, and buy Ethereum with AUD. The ease of finding the coins, paying for them, and storing them creates an appealing trading experience.

Projections believe the exchange industry might reach $347.5 billion in 2030. Comparing that to its market value of $32.77 billion in 2021 shows its popularity. Notwithstanding, the industry has two segments as follows:

  • Centralized exchanges: These are the more common platforms, often regulated for trading activities. As the name implies, a central authority always calls the shots. That could add a layer of credibility or make transactions more burdensome.

  • Decentralized exchanges: These platforms rely more on blockchain ownership than a central authority. Users can log on, advertise their assets, and make sales. However, they are more technical than their centralized counterparts.



- The exchanges specialize in cryptocurrencies.

- You can swap with other cryptocurrencies.

- The centralized exchanges trade like regular online brokers.

- The decentralized exchanges require technical expertise.

- You will pay transaction fees for the trades.

Through an Online Broker

This approach is common among traders who only want to hold the crypto briefly. It is the easiest, as it blends seamlessly with other trading activities like forex, stocks, commodities, etc. Moreover, you don’t need any special tools to get your trades.

Online brokers differ in how they support the purchase of cryptocurrencies. Some allow outright purchase and storage of the "physical" coins. These brokers may provide a wallet to store the cryptocurrency. Other brokers do not sell the actual coins. Instead, they provide them as contracts for differences (CFDs). In that case, you do not own the cryptocurrency but the contract on its price movement.

Pros Cons

- It is easy and familiar to day traders.

- The approach provides better credibility as online brokers are often regulated.

- It offers a more flexible way of trading.

- Some brokerages do not transact the "physical" coins.

- You still need third-party wallets to store the crypto.

The Best Crypto Trading Platforms to Buy Ethereum

We have explored the best approaches to getting ETH coins. A few renowned names have reached the top in each method. Let’s look at the best place to buy Ethereum in Australia for security, a mobile app, low fees, and commission.

1. Best for overall: Binance


Fiat Currencies

supports 40+ major fiats including USD, AUD, EUR, GBP, TRY


Deposit fee: None

Trading fees: 0.1%

Withdrawal fees: 0.005 ETH

There is no denying Binance’s dominance in the cryptocurrency industry. The exchange was responsible for over $7.0 trillion in crypto trades in 2021. In addition, it shines from its user interface to the number of cryptocurrencies and supporting features.

The crypto exchange had over a thousand trading pairs as of this writing. So, you can ditch fiat currency and trade your coins for another. You can definitely buy Ethereum with AUD at Binance. The platform supports mainstream payment options, meaning you don’t need cryptocurrencies to start trading. Such ease gives it popularity despite the growing number of exchanges.

2. Best for low fees: OKEx


Fiat Currencies

More than 30 fiats including USD, EUR, GBP, AUD, JPY, RUB


Deposit fees: Nil

Trading fees: 0.08%

Withdrawal fees: 0.004 ETH

Transaction fees and other hidden charges can quickly become burdensome for large transactions. We understand the need for charges, but they shouldn’t be over the top. For that, OKEx fits the bill.

The exchange has its head office in Seychelles but is available for Australian traders. It charges 0.08% on transactions and 0.004 ETH for withdrawals. Still, it supports many cryptocurrencies and offers a decent service. OKEx relies on simple trading features for its operations. You will not get overwhelmed by the features that larger exchanges are fond of providing. Nevertheless, you can still use advanced mode to open up more functionalities.

3. Best for security: Gemini


Fiat Currencies



Deposit fees: Free

Trading fees: 1.49% for trades above $200

Withdrawal fees: Varies based on network conditions and token

With crypto hacks reaching over $3.0 billion in 2022, the need for security grows stronger. Fortunately, the exchanges have beefed up their security. Gemini stands out among them as the best for safety. The exchange has SOC 2 certification and uses an extensive security protocol. Most importantly, it has $200 million in custody insurance coverage. Users need not worry about theft or hacks as their assets are insured. Gemini is one platform that works hard to follow all of the rules for cryptocurrency exchanges in the U.S. Then there's its widespread availability, which makes it a top choice for international traders.

4. Best for beginners: Swyftx Exchange 


Fiat Currencies



Deposit Fee: None

Trading fees: Flat fee of 0.6% 

Withdrawal fees: None

Swyftx hosts a large community of Australian traders. If convenience is what you're after, then Swyftx is the platform for you. Based in Australia, the site offers both Ethereum trading facilities and an online wallet to store-bought coins. A growing collection of 100,000+ users means you will always find very good deals and credible sellers. 

5. Best for crypto CFD trades: Mitrade 


Fiat Currencies

Fiat Currencies: AUD, USD


Deposit fees: None     

Trading fees: None      

Withdrawal fees: None

MiTrade is an Australian CFD broker. It is regulated by the Australian Sec. Mitrade launched commission-free trades on all its financial instruments. Since then, it has been on the fast track, becoming a top choice for traders. You can buy Ethereum with confidence.

The simple-to-use application is available for Android and iOS users. It offers the essential and advanced tools to give traders better market command. Apart from commission-free trades, Mitrade also offers negative balance protection. That means you will never lose more than your initial deposit, regardless of what happens.

How to Buy Ethereum in 5 Quick Steps

Mitrade offers you the opportunity to BUY (go long) or Sell (go short) regardless of market trends. 

Follow the steps below to buy or sell Ethereum with Mitrade:

Step 1: Create an Account

Click "Sign in/Sign up" on the mitrade app. Then, you can register using your email or phone number.

Step 2: Fund your account

Click "Deposit" to open the payment window. Note that you may have a deposit limit if you don’t verify your identity. On the deposit page, select the deposit method and enter the amount. A new window will open to process the transaction.

Step 3: Search for ETHUSD

Return to the trading page and type "Ethereum" in the search bar. You will find different options for the coin, including ETHUSD, ETCUSD, and ENSUSD. Click "ETHUSD" to purchase Ethereum.

Step 4: Click "Buy" and complete the details

Click the red "Buy" button above the chart to go to the purchase page. The details to complete include the quantity and leverage. You can raise the leverage to 2X. Also, the platform allows you to set limits like take profit, stop loss, trailing stop, and buy limit.

Step 5: Withdraw to your wallet

After purchase, you can send your money to your wallet.

Why You Should Buy Ethereum on Mitrade

Trading fees can reduce your profits when buying Ethereum. Mitrade has zero charges on deposits. You can send funds to your account and get the exact amount. The online broker provides commission-free trades. Your purchase is free of transaction charges, and you only need to spend the amount you want.

Mitrade has extensive analytical tools to help you make better predictions. You can use the relative strength index to know when to buy ETH and then to hold off on the purchase. Regardless, it presents all the information and tools in an easy-to-use interface.

In summary, Mitrade offers the following benefits:

  • Commission-free trades

  • Deposits begin at $50

  • Adjustable leverage

  • Charts and tools to track the ETH price

And if you're new to Mitrade, create a free account and start your journey into the exciting world of cryptocurrency today!

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* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

Tobi Opeyemi Amure
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