Coinbase can be used in Australia, but I don't think it's the best place to buy crypto. It's more expensive to use than local Australian crypto exchanges and doesn't support selling crypto.
Here is my full guide on using Coinbase in Australia:
Can You Use Coinbase in Australia
Coinbase is available to Australian customers. There are a couple of things you should know before signing up to Coinbase in Australia:
- No Sells Supported – Coinbase doesn't support selling crypto in Australia. You can buy crypto but you can't sell it through Coinbase. This means if you want to cash out, you need to transfer your crypto to another exchange. Here is how to sell on Coinbase Australia.
- Only Debit Cards Supported – You can't deposit on Coinbase Australia using a bank transfer, POLI or Bpay. They only deposit option is debit card.
- Really High Fees – Coinbase has some of the highest fees of any exchange that is available in Australia. You'll get less bitcoin for your money if you use Coinbase.
What Deposit Methods Does Coinbase Support in Australia
The only deposit option you can use in Australia on Coinbase is a debit card. This is an expensive way to buy crypto. You'll end up paying a huge amount in fees. You can't transfer money from you bank account.
Should You use Coinbase Australia?
I wouldn't use the Australian version of Coinbase. Many Australian's have signed up to Coinbase only to discover that they can't sell the crypto they have purchased. Coinbase Australia only supports buying crypto.
The fees to use Coinbase in Australia aren't competitive. You'll pay a lot more on Coinbase than you would if you were using a local exchange like Coinspot.
How to Sell Crypto on Coinbase in Australia
If you've bought crypto on Coinbase you'll need to transfer it to another exchange to sell it. I recommend using an Australian exchange like CoinSpot. If you use CoinSpot, you'll be able to sell your crypto into $AUD and then withdraw straight to your Australian Bank Account.
To sell on Coinspot, just generate a wallet address of the crypto you would like to sell from within the CoinSpot app or website. You can then send crypto from Coinbase to this wallet address.
Top Tip – Some cryptos have huge network fees when you send them (like Ethereum). What I do is exchange my crypto on Coinbase to Doge or another coin with cheap network fees. And then I send this Doge to CoinSpot. I can then sell it back to Australian Dollars and withdraw it to my bank account. I've found this is the cheapest way to sell crypto from Coinbase in Australia.
The Best Coinbase Alternatives in Australia
Coinbase is a U.S based exchange. There are better alternatives that are based in Australia. These exchanges have lower fees and support Australian deposit options.
My favourite Coinbase Alternative is CoinSpot. If you use the markets feature to buy and sell crypto they have some of the lowest fees in Australia. CoinSpot also supports Australian deposit options. You can deposit using PayID (bank transfer) Poli and BPay. They even support cash deposits. But the biggest reason to use CoinSpot vs Coinbase is being able to sell crypto in Australia. If you want to liquidate your crypto holdings you can easily do this and withdraw the cash to your bank account.
