Australian bitcoin exchanges

[adamsure]

I've been using worldbitcoinexchange.com

For all my buying and selling of bitcoins in Australia.

The major advantage is they were Australian based so deposits only took around 1 business day to go through and had the lowest transaction fees.

What other Australian exchange sites is there? Because since WBE closed down I've been forced to use MtGox

[PatrickHarnett]

Cryptoxchange.com

How hard were you looking?

[adamsure]

Cryptoxchange.com

How hard were you looking?

Thanks I was searching but I've never see this exchange site come up. I'll give them a go and see how it works out.

[Inaba]

Fees are too high for bank withdrawls.

[PatrickHarnett]

Fees are too high for bank withdrawls.

I haven't used them for extracting AUD, but from their fees page.  $5 does not look excessive. 

Depositing & Withdrawing Currency Fees: 
$5 Flat Fee - deposit or withdraw with any supported currency.
For all deposits and withdrawals from Crypto X Change, send and withdraw unlimited amounts (Up to $500 can be withdrawn before you verify your ID – AML)
25+ inbound currencies supported, 120+ outbound currencies supported, deposit via internet banking or with a cash deposit at your local bank branch.
Funds in and out of the exchange usually take 24-48 hours from the time sent, our system is 100% automated and the funds will show in your Crypto X Change account as soon as they arrive.

[Inaba]

Looks like they've lowered their fees a bit... but $5 + .6%?  So really, for real withdrawals, it's more like $11+ ... wayyy too much.

[adamsure]

Whats an Australian exchange site with lower fees then? Or is this the best they can do?

[Inaba]

I dunno, ever since Tradehill went kaput, I've not been able to deposit into my ANZ account.

[PatrickHarnett]

Looks like they've lowered their fees a bit... but $5 + .6%?  So really, for real withdrawals, it's more like $11+ ... wayyy too much.

That +0.6% looks to be for Gox deposits/withdraw.

If you want "way too much" try exchanging currency out of Australia (or other international transfers) and consider the 4%+ that most options slug you for.

I've used them for a deposit before and shifted BTC so have yet to worry too much about their cost, but $5 was pretty cheap compared to other options.

[Inaba]

Well, if it's not +.6%, then a flat $5 isn't too bad, I will have to give them another look. 

[PatrickHarnett]

Well, if it's not +.6%, then a flat $5 isn't too bad, I will have to give them another look.  

In all fairness, it used to be higher and other options were cheaper.  But with the demise of Tradehill and other exchanges having issues with fraudulent deposits, wire transfers or OTC are some of the few options available.

Edit, it's unclear what the rates are because it looks disabled (for deposits at least 13Mar12).

[adamsure]

I've been trying to use this crypto exchange but them seem pretty bad at customer support. They disabled deposits for now.

[PatrickHarnett]

I've been trying to use this crypto exchange but them seem pretty bad at customer support. They disabled deposits for now.

I had a response from their support desk - they are updating some AML stuff this week.

[CIYAM]

From their home screen:

Cost is $5 + 0.6% to deposit and withdraw

That's not a flat $5 fee AFAICT (although that is a lot cheaper than they used to be).

[PatrickHarnett]

From their home screen:

Cost is $5 + 0.6% to deposit and withdraw

That's not a flat $5 fee AFAICT (although that is a lot cheaper than they used to be).

Agreed.  It's a bit unclear just what the fee is currently.  It's a bit of a moot point given they have suspended deposits.  (shameless plug: I'm still looking to trade some AUD for BTC)

[perlboy]

Running a Bitcoin exchange in Australia is actually quite hard. A combination of ASIC and APRA mean that Bitcoin services (particularly once they get converted to paper currency) get classed as a financial trading organisation. Consequently it doesn't take much to pique the interest of these governing bodies and so far a lot of those offering these trading services have faced far higher fees than they could possibly collect.

Hello from Queensland by the way!

Stuart

[CIYAM]

You could also try looking into https://www.weexchange.co (not sure exactly about their current status though).

[Bitcoin Oz]

You can buy some australian notes on bitmit,more denominations coming. https://www.bitmit.net/en/trade/i/9589-australian-5-note

[Graet]

https://cryptoxchange.com/blog/21/crypto-x-change-suspending-trading-and-returning-client-funds

[bitcointraderAU]

there is also the Australian Bitcoin exchange BTC Markets