How to Sell Bitcoin in Australia? A Simple Guide
Looking to sell your Bitcoins for AUD in Australia? Be sure to follow our simple guide below to get started!
Whether you’re an active crypto day-trader or a holder, at some point you’re bound to cash out and sell your Bitcoins (BTC) for profit. For those wondering how to sell Bitcoin in Australia, we’ve got you covered here at Easy Crypto.
You can sell Bitcoin to literally anyone
As Bitcoin is a type of decentralised currency, theoretically you can pretty much sell your Bitcoin to anyone on the Internet in exchange for cash in Aussie dollar.
The thing is, Bitcoin is still limited in terms of smart contract functionality, meaning that you can’t have an automated selling mechanism on the Bitcoin blockchain in the same way you would have on Ethereum.
So, trust is still going to be a big issue.
While there are many overseas exchanges to choose from, you can’t guarantee that they follow Australian regulations nor can you guarantee that they offer the most competitive BTC/AUD exchange rates.
Looking to sell your BTC? Click here to sell your Bitcoins in Australia.
When is the right time to exchange your Bitcoin?
We can easily guide you on when to sell Bitcoin, but when it comes to selling, the decision really depends on your circumstances. This will be determined on the primary purpose of your investment goals.
However, while there are no hard rules about when you should sell your Bitcoin, you can narrow down the timing of when to sell by tracking your portfolio to maximize your profits.
With our Portfolio Tracker, you’ll have a detailed overview of your bitcoins and other metrics to help you configure the right time to sell and make profits.
Get started: Create your portfolio with Easy Crypto.
Why should you sell Bitcoin to AUD with Easy Crypto?
If you are reading this, it is likely that you are familiar with other blog posts online explaining how to sell Bitcoin in Australia. However, many how-to articles online only explain how to sell Bitcoin at overseas exchanges.
Blogs promote overseas exchanges because they make substantial affiliate marketing revenue in the process. However, following their advice can leave you out of pocket.
- Hundreds of Australians lose money every day by selling Bitcoin overseas.
- Many fall victim to scams on peer-to-peer exchanges that see people buying Bitcoin later reverse payments.
- Other Australians fall victim to exchanges that freeze the accounts of international users as a result of obscure security concerns.
At Easy Crypto in Australia, we are a fully registered digital currency exchange.
Registration with the Australian Transaction Reports and Analysis Centre (AUSTRAC), means that we have to abide by strict consumer safety standards. Converting BTC to AUD overseas won’t give you the benefit of the same protections.
As a cryptocurrency exchange, Easy Crypto makes it easy for Aussies to buy, sell, and exchange their digital crypto assets with ease. With over 40+ supported cryptocurrencies and continually adding more. Your buy or sell with us will be processed and confirmed on the same day.
Here are some compelling reasons why Easy Crypto Australia is your best choice to sell Bitcoin in Australia:
- Easy Crypto has some of the best Bitcoin prices in Australia, so when you sell your Bitcoin through us you get the most AUD for your Bitcoin!
- You can sign up, verify your account, and sell Bitcoin for AUD all in under 5 minutes or less.
Easy Crypto makes it easier than ever to sell Bitcoin in Australia. This means no more taking risks at overseas exchanges.
How to sell Bitcoin in Australia with Easy Crypto AU?
Time needed: 2 minutes.
To exchange Bitcoin to AUD, simply sign up to Easy Crypto via email, Facebook, or Google. Once you complete your profile, we will then ask that you verify your identity using your Australian passport or driving license.
- Confirmation via e-Mail
Wait until we confirm via email that we have been able to verify your identity (in most cases, this takes just a few minutes)
- Complete the verification
When verification is complete, create a sell order on the Easy Crypto home page by selecting what coin you plan to dispose of.
- Input the amount of Bitcoin you plan to sell
As a new user, you may exchange up to $10,000 in Bitcoin to AUD in any 24-hour period.
If you originally bought the Bitcoin that you plan to sell through Easy Crypto, we will be able to process your sell order in under 24-hours.
In some cases, though, we might ask you to confirm where you bought coins not originating at Easy Crypto before we can complete sell orders.
FAQs about exchanging Bitcoin to AUD
Q: What are the tax implications when I sell Bitcoin in Australia?
A: When buying and selling any Cryptocurrency in Australia you must understand your tax obligations with the Australian Tax Office. In general, every AUD to crypto, crypto to AUD and crypto to crypto trade is a tax ‘event’. Contact a crypto-friendly accountant (such as Darcy Financial) to discuss your personal situation before selling.Add image
Q: How long does it take to receive my AUD after I sell Bitcoin in Australia?
A: It is all dependent on Australian bank processing times. This can range from almost instant (in the case of NPP type payments) through to 3 business days. The exchange will keep you in the loop via email.
Q: Can I cash out to my partners Australian account?
A: Contact Easy Crypto via email to discuss this.
Q: Why is the sell price higher than the buy price?
A: Selling Bitcoin in Australia (and across the world) always follows the same principle, that is there is a buying and selling market. Buyers will set a buying price and sellers a selling price. To buy, your buying price must match the sellers price. The difference between these two prices is called ‘the spread’. So in order to sell instantly, you must lower your sell price down to the buy price to match up with a buyer. Once this occurs your order immediately processes. This is all done by the exchange automatically and you don’t have to worry about it.
And that’s it. It really is that quick and simple with Easy Crypto Australia. Now with that said, any savvy investor will tell you that with more knowledge comes more power – and also more profits!
Take some time to learn about Bitcoin itself, its history, and its projected potential to revolutionize the way peer-to-peer transactions and payments will be conducted in the future.
Learn more: Click here for our complete guide on Bitcoin.
With that said, we hope this article has been useful on your crypto journey. Now, are you ready to start your investment with Bitcoin?
Start investing now: Click here to buy and sell bitcoins in Australia.
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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 October 17, 2022