Buying Crypto in Australia: Common Mistakes to Avoid

Buying Crypto in Australia: Common Mistakes to Avoid

Crypto investing in Australia is booming — but it’s also easy to make avoidable mistakes. Here are the most common pitfalls beginners face and how to avoid them:

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❌ 1. Using Unregulated Exchanges

Always choose an AUSTRAC-registered platform like CoinSpot or Swyftx. Avoid foreign, unlicensed websites.

❌ 2. Ignoring Security Best Practices

Use 2FA, strong passwords, and don’t leave large balances on exchanges.

❌ 3. Failing to Understand Tax Obligations

The ATO treats crypto as a CGT asset. Know when to report gains and losses.

❌ 4. Buying the Hype

Avoid FOMO. Do research before buying any trending coin.

❌ 5. Going All In

Invest gradually and diversify. Start with small amounts.