Crypto Brokers in Australia
If you’re new to crypto, you may be wondering where to buy bitcoin from. As you may know, most people buy cryptocurrencies like bitcoin from exchanges.
But not many people know you can buy bitcoin through a crypto broker. In this resource, we explain what crypto brokers are, why you might use them and where to find them in Australia.
Crypto Brokers, Explained
A crypto broker is an individual or firm that can execute buy and sell orders on your behalf. A crypto broker acts as an intermediary between you and the crypto market.
For a fee, crypto brokers may also provide tailored investment solutions based on your available funds; risk appetite; and financial goals over the short, medium and long term.
Having a crypto broker acting as your intermediary can be especially attractive if you’re playing with larger amounts of money. That’s because crypto brokers can typically access deeper sources of liquidity than exchanges as well as offer fast settlement times and expert market knowledge.
Crypto Brokers vs Crypto Exchanges
Where a crypto broker is one on-ramp of converting your fiat currency into cryptocurrency, another on-ramp is a crypto exchange.
A crypto exchange is the most popular gateway to buying bitcoin and other cryptocurrencies. Crypto exchanges are marketplaces for buying and selling cryptocurrency. Some of them let you buy and sell hundreds of different cryptocurrencies.
Crypto exchanges make money by charging you a transaction fee for every buy or sell order executed. Executing large orders is a reason why investors may choose a crypto broker over an exchange.
With a crypto broker, you can place and execute large orders with greater ease, price protection and anonymity.
A crypto broker will search for liquidity on your behalf, giving your order the best possible chance of executing at your desired price. (Put another way, using brokers can mean you don’t suffer the same amount of slippage as you would if you went through an exchange.)
Read: Buy & Sell Cryptocurrency In Large Amounts
Crypto Brokers for Australians
Independent Reserve
Independent Reserve runs Australia’s premier over-the-counter (OTC) trading desk for self-managed super funds (SMSFs), institutional clients and high-net-worth individuals.
An OTC trading desk is an off-exchange trading platform that gives you the benefits of a crypto broker—deeper liquidity, reduced price slippage and enhanced privacy.
Through Independent Reserve’s OTC desk, you can trade between A$100,000 and $10 million worth of cryptocurrencies.
You can also insure your cryptocurrency with Independent Reserve. They offer 6 insurance options, with insurance value ranging from $15,000 to $2 million.
Caleb & Brown
Operating out of Melbourne, Caleb & Brown is another leading crypto broker. They won the 2018 Fintech Startup of the Year award and are registered with AUSTRAC.
Caleb & Brown pride themselves on their personalised service and strong client relationships. They provide you with a personal broker, who takes the time to know your situation so they can better advise and help shape your portfolio.
Caleb & Brown specialises in high-volume trading of cryptocurrencies, ranging from $2,000 to $100 million. Once verified, they’re the only brokerage service in Australia that can facilitate up to $2 million in daily buys.
Ainslie Wealth
Ainslie Wealth is an Australian OTC crypto broker, but with a point of difference.
Ainslie Wealth deals in precious metals bullion—that is, physical gold and silver. The cryptocurrency you trade can be used to buy gold or silver. You can also sell gold or silver for cryptocurrency.
If you buy bullion with cryptocurrency, you can pick it up in person, have it sent to Ainslie’s Reserve Vault or request insured delivery at the cheapest going delivery rate.
Ainslie Wealth even have their own cryptocurrencies! The Gold Standard (AUS) and Silver Standard (AGS) cryptocurrencies are ERC-20 stablecoins fully backed by gold and silver bullion. AUS and AGS are secured in Ainslie’s Reserve Vault, BDO-verified and underwritten by the world’s leading insurer.
Read: Can Crypto Investors Buy & Sell Anonymously?
