List of Businesses That Accept Bitcoin in Australia
A lot of businesses have started to accept Bitcoin (BTC) in Australia as another form of currency, and that’s good news. In these times, companies.
A lot of businesses have started to accept Bitcoin (BTC) in Australia as another form of currency, and that’s good news. In these times, companies must adapt to new technological spaces, in order to adjust to users’ needs and update the way they handle money. Witnessing the impact of blockchain technology and how people start creating digital assets, it is natural to watch numerous businesses started to accept Bitcoin payments in Australia and other countries, thus expanding the scope of their business.
However, to start accepting Bitcoin payments, it is very important to understand first the advantages that this technology offers compared to traditional payment methods. For this reason, we will highlight the advantages of accepting Bitcoin for companies and entrepreneurs.
Why do businesses accept Bitcoin in Australia?
There are many reasons why businesses have started to accept Bitcoin as another form of payment. Some of them are as follows:
- Low Commissions
Bitcoin transactions will only deduct a small fee from the total amount to be transferred, which will be taken as a mining reward. These fees are distributed to those who mine the tokens and maintain the continuity of the BTC network. This commission can vary between 0.00008 BTC up to 0.0004 BTC.
- Irreversible Payments
Sometimes people reverse their payments/transfers in a fraudulent maneuver after receiving the item or service, thereby causing a loss to the seller. However, when using Bitcoin, there is no chance that customers will attempt to reverse their transactions once they complete them.
- Easy to Use
Using Bitcoin is much easier than using bank accounts. To start accepting payments with the cryptocurrency both sellers and customers simply choose and download the Bitcoin wallet that is available in Australia to their computer or smartphone.
- Decentralized Technology Favors International Payments
Bitcoin technology is totally decentralized. Therefore, it allows businesses to accept and send Bitcoin payments in Australia or any other country, as long as there is an internet connection. That is why this is such an easy, fast and economical way to make payments, regardless of geographic and political barriers.
Now, how long do Bitcoin transactions take?
Bitcoin transactions usually take between 40 minutes to an hour to be confirmed, although the speed of the transaction will depend directly on the mining fee that has been deducted from the total amount. The higher the mining fee, the more likely it is that a miner will process your transaction quickly and you will be able to obtain the necessary confirmations for it to reach its destination.
A debit card purchase indeed takes less time to process, but it is worth waiting an hour for a transaction that cannot be reversed or fraudulent under any circumstances. Each BTC transaction is validated by block confirmations, which occur approximately every 10 minutes.
There have been cases in which a BTC transaction can take up to 8 hours to be confirmed by traffic on the Bitcoin network and very low mining fees when sending the tokens. However, solutions have been created to process BTC payments instantly, such as the Lightning Network (LN). LN wallets immediately send the tokens to the recipient, although they are more suited to small and medium payments.
The list of businesses that accept Bitcoin in Australia
Food and drinks
- The Cellar By Bouche: 6 Bridge Street, Sydney. Phone (02) 82789400. A restaurant/wine bar located in Sydney’s financial district.
- The Owl House: 97 Crown Street, Darlinghurst. Phone (02) 93575060. Nice dining business with awesome food and drinks. Located in Sydney.
- Since I Left You: 338 Kent Street, Sydney. Phone (02) 92624986. Bar/restaurant with live music shows and nice food and drinks.
- Cellini’s Bar Restaurant: Level 2 Shop 46-48 Queen Victoria Building, George Street, Sydney. Phone (02) 92644671. Restaurant with a varied menu of food and drinks
- Greenhouse Cafe: 68 Oxford Street, Darlinghurst, Sydney. A little cafe which serves coffee, doughnuts and other snacks.
- Lezzet Grill and Pide House: 662 Crown Street, Surry Hills, Sydney. Phone (02) 80840843. Delicious Turkish dishes and gourmet pizza menu
- Black Star Pastry & Cafe: C1 / 85-113 Dunning Avenue, Rosebery, Sydney. Phone (02) 95578656. Famous for its Strawberry Watermelon Cake, a boutique patisserie.
- Hero Subs: 1 Stewart Street, Melbourne. Phone (03) 99954655. A New-York-inspired sandwich dining business.
- Giuseppe’s Pizza: 92 Wilsons Road, Mornington. Phone (03) 59772228. A family pizza shop loved by the locals. Melbourne.
- Tamworth Heart Clinic: 40 Piper Street, Tamworth Phone (02) 67663299. Experienced cardiologist in Sydney.
- Quality Dental: Ground Floor Sophos House, 3/1 Elizabeth Plaza, North Sydney. Phone (02) 99221159. Cosmetic dentistry services.
- Gold Coast Aesthetic Dentistry: 3/109 West Burleigh Road, Burleigh Heads. Phone (07) 55766208. Cosmetic and general dental practice in Brisbane.
- Baydental Wynnum: 138-140 Tingal Road, Wynnum, QLD 4178. Phone (07) 38933055. Brisbane dentist specializing in smile restorations (dental bridges, crowns, and more).
- Monstrosity Dreadlocks: 160 Parramatta Road, Stanmore, Sydney. Phone (04) 90060116. Dreadlocks hairdresser with all the beauty gadgets.
- Eclectico: 163A Acland Street, St Kilda. Phone (04) 11209912. Stylish men and women clothes shop in Melbourne.
- Lawless Salon: Shop 5, Winn Street, Fortitude Valley. Phone (04) 51178348. Hairdresser in Melbourne.
- Beyond the Trap Door: 18 Forrest Street, Phone (08) 93886499. Lingerie, exotic fashion and sexy accessories in Perth.
Where can I buy Bitcoin in Australia?
Currently, crypto adoption has increased exponentially, which is why each user has at least 20 different alternatives to buy Bitcoin on the internet. From using cryptocurrency exchange platforms to using Bitcoin ATM in Australia, buying BTC tokens with fiat currency is very simple. For businesses to accept Bitcoin in Australia, you would have to buy it (or take them as a payment method) yourself.
The most common option is to register with an exchange company that has a P2P platform to sell and buy Bitcoin easily. In this space, you will be able to exchange fiat currency and/or other cryptocurrencies for BTC in immediate transactions, which will allow you to have your tokens in hand (figuratively speaking) and do business with them. These transactions are directly attributed to your wallet because most of these platforms have integrated Lightning Network for immediate transactions between 2 equal cryptocurrencies within the exchange.
If your level of experience trading cryptocurrencies is not adequate to participate in a large exchange platform, you can subscribe to local platforms and acquire BTC with the currency of your local country, such as USD, EUR, AUD, etc. This is perfect if you want to buy Bitcoin in Australia, as there are platforms such as Easy Crypto Australia (AU) that will let you buy how many BTC you want.
Regardless of the characteristics of an exchange platform, we must ensure that it has acceptable policies and that it does not impose restrictions on our country of residence.
Furthermore, you can always trade Bitcoin with friends and acquaintances who are willing to sell their tokens. Because Australia has a very large crypto community, this is completely legal and common.
Also, don’t forget to subscribe to our monthly newsletter to have the latest crypto insights, news, and updates delivered to our inbox.
Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated August 24, 2022