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How to Buy 1inch in Australia - Beginner's Guide 2024

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By Onose Enaholo - Updated 22 April 2024
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For any crypto enthusiast who lives in Australia and wants to purchase 1Inch, this can be done in several places and options. Globally, 1Inch functions as a decentralised exchange, allowing users to buy and sell cryptocurrencies without relying on a centralised intermediary.

This means you can buy 1Inch directly from others on the platform, bypassing intermediaries. However, a centralised exchange is the most secure approach to achieving 1Inch. By doing so, you can have confidence in the exchange’s credibility and the safety of your funds.

This article provides a comprehensive overview of purchasing 1Inch in Australia, covering regional considerations, fees, regulations, and available platforms.

How to Buy 1inch in Australia

To buy 1inch in Australia, purchasing online through a cryptocurrency exchange is the most straightforward approach.

These exchanges offer a user-friendly experience for buying and selling 1inch and other cryptocurrencies, and they are accessible from your smartphone, tablet, or computer. Below is the step-by-step process for purchasing 1inch in Australia.

Select a suitable platform.

When choosing a platform, ensure it operates specifically in Australia. It should comply with financial services laws and ideally be regulated by a native government agency or one recognised by local authorities. Our recommended platforms in this piece meet these criteria.

Set up and fund your account.

Complete the sign-up form by providing your name, contact details, and other necessary information. Usually, the “Sign Up” button on the homepage redirects you to the form that requires you to input this information.

To fund your account, you must pass the KYC (Know Your Customer) process by submitting identification and address documents, such as an ID and a utility bill.

Purchase 1inch in Australia

What’s next is buying the coin. To do this, you must navigate your account’s “explore” or “discover” page and search for 1inch. Depending on the platform, you may encounter ticker symbols like 1INCH/AUD or 1INCH-USDT.

You must buy 1inch directly using your preferred funding method or your available account balance when you find this.

Table of Contents

Where to Buy 1inch in Australia?

Residents of Australia have a plethora of crypto platforms at their disposal, all of which facilitate the acquisition of 1inch. Additionally, major cities have dedicated crypto ATMs conveniently installed for easy access to withdrawals. However, numerous users seek a user-friendly online platform for their needs.

1. eToro – Overall Best Place to Buy 1inch in Australia

eToro is a social investing platform in Australia that offers a convenient mobile app for quickly purchasing cryptocurrencies and is regulated by the Australian Securities and Investment Commission (ASIC) and the Australian Financial Services Commission.

What sets this platform apart from its competitors are its unique social features, copy trading functionality, and thematic investing options. With eToro, you not only have the opportunity to buy 1inch but also to execute profitable buying and selling strategies.

The platform provides users access to 70+ cryptocurrencies and other investment assets like stocks, commodities, and ETFs. In the Discover section, you can search for 1inch and purchase it using fiat currency.

Please note that converting fiat to crypto incurs a 1% transaction fee. Additional fees may apply in some instances, such as for Luna Classic transactions, which carry an extra 0.6% operation fee due to the 1.2% burn tax implemented by the blockchain until a total supply of 10 billion coins is reached.

eToro offers multiple deposit methods, including credit cards, PayPal, Poli, bank transfers, Skrill, and Neteller. However, you need to know that only USD, GBP, and EUR are supported when using Skrill, Neteller, and bank transfers.

Transactions conducted in native Australian dollars may be subject to a conversion fee. Native AUD can be directly used for deposits via credit cards, PayPal, and Poli. While eToro does not charge deposit fees, payment providers may impose transaction fees.

Advantages:

  • Offers a convenient mobile application.
  • Maintains high levels of regulation and trustworthiness.
  • Includes a valuable social investing feature that enables trade replication.
  • It boasts a low initial deposit requirement of $10.

Disadvantages:

  • It provides a limited range of cryptocurrencies to choose from
  • Offers restricted payment methods for native AUD transactions

2. Binance – Cheapest Way to Buy 1inch in Australia

Binance is a prominent cryptocurrency exchange that hosts a vast selection of over 600 cryptocurrencies, a wide range of NFTs, vanilla options, and even an automated trading service.

It has established itself as the go-to platform for crypto enthusiasts worldwide. In addition to its impressive size and extensive collection, Binance also boasts the lowest fees on our list.

You can purchase 1inch at the prevailing market price using the classic trading terminal, incurring a minimal fee of 0.1%, significantly lower than its competitors.

Regarding deposits, Binance accepts native AUD deposits through various channels, such as bank transfers, credit cards, and third-party providers like Simplex and Poli. Deposit limits vary, with credit card payments ranging from 25 AUD to 20,000 AUD and local bank transfers requiring a minimum of 75.41 AUD.

It is important to note that payment providers may impose additional fees. You can fund your account using the peer-to-peer (P2P) market to avoid these fees. This market facilitates direct transactions between individual buyers and sellers of cryptocurrencies worldwide.

Within the P2P market, you can select the desired cryptocurrencies and fiat currencies for your transactions and trade directly with other users who hold the same currencies.

Deposit fees within the P2P market are minimal, if any, as you can locally send fiat currency to your counterparty and receive crypto in return, with Binance acting as an escrow service to ensure a secure and fair transaction.

It’s worth mentioning that Binance enables the purchase of both 1inch (the coin) and 1inch futures, which are financial derivatives that allow exposure to 1inch’s price without owning the underlying asset.

Advantages:

  • Offers an extensive range of over 600 cryptocurrencies to choose from
  • Boasts low fees for spot market transactions, set at 0.1%
  • Provides a peer-to-peer (P2P) market option for more cost-effective deposits and withdrawals
  • Features a robust platform that supports staking, earning, and saving activities

Disadvantages:

  • Crypto withdrawals can become costly during periods of network congestion

3. Coinbase – Easiest Way to Buy 1inch in Australia

Coinbase, a cryptocurrency exchange based in the United States, offers a wide selection of over 190 cryptocurrencies, including 1inch. The platform is renowned for its user-friendly interface and is particularly suitable for beginners.

Depositing funds on Coinbase is a straightforward process as it supports popular traditional transfer methods such as bank transfers, credit cards, and wire transfers. You can easily add cash to your Coinbase balance, make direct crypto purchases, receive sales proceeds, and facilitate balance transfers when using your bank account.

On the other hand, credit card transfers are only applicable for direct crypto purchases. If you prefer to fund your account in USD, you can use international transfers or Fedwire.

On Coinbase, the minimum trade size is $2. However, an initial deposit of $50 is recommended to facilitate bank account verification and create a PayID. While Coinbase charges a 1% conversion fee for direct fiat-crypto conversions, the trading terminal imposes varying fees ranging from 0.05% to 0.60% for trades.

Advantages:

  • Offers a low minimum trade size of $2
  • Provides straightforward and user-friendly deposit and withdrawal methods
  • Features low transaction fees
  • Offers a convenient mobile app for on-the-go access.

Disadvantages:

  • Deposit and withdrawal methods have some limitations in terms of the variety and options available

4. Swyftx – Best Australian 1inch Exchange

Swyftx, an Australian cryptocurrency exchange, offers a diverse selection of over 310 assets, a mobile web app, and exciting features such as portfolio tracking. The exchange currently operates in Australia and New Zealand, prioritising local deposits.

Users can quickly deposit and withdraw AUD at no additional cost through various payment channels, including bank transfers, credit cards, PayID, Poli, and Osko. One good thing is that all payments are instantly processed across these channels.

Customers incur conversion costs and spread when exchanging fiat money for bitcoin on the Swyftx cryptocurrency exchange. While distances are variable, often starting at 0.41%, conversion fees are set at 0.6% of the transaction value. It’s vital to remember that using the platform to buy 1inch will cost you spread and conversion fees.

Swyftx allows users to deposit funds in USD and cryptocurrencies like 1inch and USDT. Users can change their account’s base currency to USD, set up recurring purchases, explore bundled options comprising various proportions of cryptocurrencies, and practice trading through a demo account.

Advantages:

  • Offers free deposits and withdrawals in AUD
  • Additional features such as recurring buys and bundles provide convenient automation for purchasing
  • Provides a mobile web app for easy access on the go
  • Registered with the Australian Securities and Investments Commission, ensuring regulatory compliance

Disadvantages:

  • Spread and conversion fees are relatively high compared to other platform

How to Purchase 1inch in Australia - Step-by-Step Guide

This step-by-step approach will focus on eToro as our recommended platform for buying 1inch in Australia. However, you can apply these steps to other exchanges mentioned in this article.

Create an Account:

To begin, click on the Start Investing button on the homepage. Fill out the signup form with your information to create an account. Alternatively, you can download the mobile app from the Play Store or App Store and follow the same process.

Verify Your Account:

Upon creating an account, you will receive an email containing a verification link. Click on the link to initiate the verification process. Complete your profile by providing details such as your date of birth and a passport photo.

Additionally, submit the required KYC (Know Your Customer) documents, which typically include proof of identification (a national ID or driver’s license) and proof of residence (utility bill).

Make a Deposit:

Once your account is verified, access your dashboard and click the “Deposit funds” option in the left pane. You will be presented with various deposit options.

Choose the one that suits you and specify the amount you wish to deposit. For Australian users, you can conveniently deposit funds in Australian dollars using credit cards, PayPal, or Poli.

Purchase 1inch in Australia:

Navigate to the Discover tab and search for 1inch. The interface will display relevant information. You can either immediately purchase at the market price or set a specific price you want to pay.

Following these steps, you can easily buy 1inch and begin your cryptocurrency investment journey in Australia.

1
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$ 100
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Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
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Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
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2
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Description:
KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.
Payment Methods:
AdvCash, American Express, Apple Pay, Bank Transfer, Banxa, Credit Card, Debit Card, Discover, Mastercard, Payeer, Perfect Money, SEPA, Simplex, WebMoney, neteller, , , , , skrill
Full Regulations:
3
Min Deposit
$ 1
Promotion
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4.3
FCA regulated crypto exchange with 4500+ digital assets available for trading
Supports users from over 100 countries including the US and Canada
Withdraw your funds using PayPal or other payment methods
Visit Site
Description:
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Payment Methods:
Apple Pay, Bank Transfer, Debit Card, Google Pay, SEPA, Wire Transfer,
Full Regulations:
Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

Is 1inch a Good Investment?

Determining whether 1inch is a favourable investment is subjective and depends on individual circumstances. Instead of providing a definitive answer, we can offer guidance to assist you in making an informed decision. Here are a few benefits that 1inch presents to its users:

Diversification for Portfolios:

1inch presents an opportunity to diversify investment portfolios by incorporating a digital asset class. Its potential for equity growth makes it a worthy consideration for modern portfolio construction strategies.

Store of Value:

Cryptocurrencies, mainly deflationary coins like 1inch, can serve as long-term stores of value. With a limited supply, these digital currencies are anticipated to appreciate over time, assuming demand remains steady. This positions digital currencies as potential alternatives to traditional stores of value like gold.

High Potential Returns:

1inch has demonstrated a history of delivering substantial returns on investment, driven by its inherent volatility and the growing adoption and institutional interest surrounding it. Additionally, as blockchain technology continues to evolve, the potential for growth and profit remains significant.

Decentralisation:

To begin with, 1inch operates in a decentralised manner, free from the need for government validation or reliance on specific companies to maintain its blockchain infrastructure. This means that transactions conducted with 1inch are not subject to the limitations and fees typically associated with traditional financial networks.

As our society increasingly embraces the digital realm, cryptographic technology plays a crucial role in securing digital assets and empowering individuals by ensuring ownership and promoting a future of digital freedom.

Liquidity:

Cryptocurrencies, including 1inch, are highly liquid and easily transferable assets. They can be purchased on one crypto exchange, moved to another in a different country, and sold, allowing for seamless wealth transfer.

Risks of Buying 1inch

Like all other cryptos, there are potential risks when purchasing 1inch. The first concern is its inherent volatility. Cryptocurrencies are notorious for their unpredictable price fluctuations, resulting in substantial value losses over short periods and significant financial setbacks for investors.

Additionally, there are risks associated with rug-pulls, blockchain attacks, and wallet hacks. These technological risks involve malicious individuals exploiting vulnerabilities in a cryptocurrency’s blockchain network or compromising your wallet, often resulting in the theft of funds.

Furthermore, the broader cryptocurrency market is still subject to legal crackdowns and stringent regulatory measures, which could impede its growth and adoption.

What Payment Options Can I Use to Purchase 1inch in Australia?

When buying 1inch in Australia, payment methods supporting Australian dollars are convenient. Although not all platforms accept deposits in AUD, here are the commonly available methods to buy 1inch in Australia.

Please note that fees and availability may vary among platforms and ATMs, so checking the specific details before proceeding with a payment method is advisable.

PayPal:

PayPal is a popular electronic wallet and payment service, but its availability as a direct funding method is more limited. For instance, Binance and Coinbase do not support PayPal as a funding option in this region.

Credit/Debit Cards:

Credit or debit cards are widely accepted across platforms but can be relatively expensive. eToro does not charge fees for card transactions, while Binance and Coinbase have fees of 1.8% and 2.49%, respectively. On other platforms, fees typically range from 1% to 3%.

Cash via ATMs:

Another option is to visit physical locations with crypto ATMs. These machines allow you to deposit cash and purchase/send cryptocurrencies to your wallet. Australia has approximately 54 crypto ATMs across major cities like Sydney (12), Melbourne (21), Brisbane (9), and Adelaide (6), among others. Most ATMs support Bitcoin, while some also offer Ethereum and Litecoin.

Bank Transfers:

All listed platforms offer local transfers through Australian bank accounts. eToro provides this service for free, Binance charges $1, and the cost on Coinbase may vary depending on the bank. Remember that deposits in currencies other than the account’s currency may incur a conversion fee.

Different Approaches to Investing in 1inch in Australia

There are two practical approaches to investing in 1inch in Australia. You can either buy and hold them for revenue generation or be a daily trader of the coin. Let’s break down the two options below for a better understanding:

Buy and Hold 1inch:

The buy-and-hold strategy involves purchasing 1inch and holding onto it for an extended period, often years. This approach is widely embraced in the industry due to its long-term effectiveness.

Another variation of this strategy is Dollar Cost Averaging (DCA), where you invest a fixed dollar amount in 1inch at regular intervals regardless of its current price.

Trade 1inch:

When people trade 1inch, they aim to profit from its volatility. This strategy involves relatively short-term buying and selling, ranging from a day to a year. Positions held for longer durations are typically classified as investments.

Trading provides opportunities to explore financial derivatives like futures, options, and Contracts For Difference (CFDs), enabling exposure to 1inch’s price movements without directly owning the coin. It also allows for leveraged positions that can amplify both gains and losses.

1
Min Deposit
$ 100
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
2
Min Deposit
-
Promotion
User Score
4.45
Sign Up Bonuses
App Available
Supports Multiple Altcoins
Visit Site
Description:
KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.
Payment Methods:
AdvCash, American Express, Apple Pay, Bank Transfer, Banxa, Credit Card, Debit Card, Discover, Mastercard, Payeer, Perfect Money, SEPA, Simplex, WebMoney, neteller, , , , , skrill
Full Regulations:
3
Min Deposit
$ 1
Promotion
User Score
4.3
FCA regulated crypto exchange with 4500+ digital assets available for trading
Supports users from over 100 countries including the US and Canada
Withdraw your funds using PayPal or other payment methods
Visit Site
Description:
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Payment Methods:
Apple Pay, Bank Transfer, Debit Card, Google Pay, SEPA, Wire Transfer,
Full Regulations:
Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

Choosing a 1inch Wallet in Australia

Wallets are crucial for securely storing cryptocurrencies, so selecting the right wallet is essential. Wallets can generally be categorised as hardware or software wallets. Hardware wallets store cryptocurrencies offline on a physical device, while software wallets keep them online and connected to the internet.

Software Wallets:

  • Web Wallets: These wallets come in the form of browser extensions or web applications that store your private keys in your browser. Web applications and wallets can be accessed through any browser. In contrast, extension variants require installation on a specific browser and recovery through a seed phrase. Platforms like eToro, Binance, and Coinbase provide free web wallets for storing 1inch.
  • Mobile Wallets: These wallets are mobile apps available for download from the Play Store/App Store or the Internet. Binance offers a mobile wallet called Trust Wallet, which supports 1inch.
  • Desktop Wallets: Desktop wallets are applications that run on your computer and store private keys on your hard drive. Several desktop wallets are available, catering to different levels of control and familiarity with blockchain technology. The Electrum wallet is a recommended option for beginners, compatible with Windows, Mac, and Linux PCs.

Physical and Hardware Wallets:

  • Hardware Wallets: A hardware wallet is a physical device that stores private keys offline, providing higher security. Trezor is an example of a hardware wallet that supports 1inch.
  • Paper Wallets: Paper wallets involve printing public and private keys on a physical piece of paper. While they offer offline storage for private keys, they are not widely recommended due to the risk of loss or fading ink. Hardware wallets have replaced mainly paper wallets in popularity.

Wallet Combinations:

You can combine multiple wallets to enhance security or improve the user experience. For instance, you can utilise a hardware wallet like Ledger and a web wallet extension to purchase coins on a decentralised exchange and promptly transfer them to your hardware wallet.

Remember to assess your specific needs and preferences when selecting an investment strategy and wallet type for 1inch in Australia.

Is It a Good Time to Buy 1inch? - Factors to Consider Before Purchasing 1inch in Australia

Determining the right time to buy 1inch depends on various factors, including the economic climate, investment objectives, risk tolerance, and investment costs. Take these considerations into account before making a decision.

1inch Price:

The price of 1inch is known to change rapidly, experiencing significant fluctuations. This volatility can be advantageous for traders seeking profit opportunities. Long-term investors, however, may be okay with short-term price swings, as historical trends indicate an overall upward trajectory with occasional downward periods.

A simple buy-and-hold approach or dollar cost averaging (DCA) may prove effective for long-term investment strategies.

Anonymous Purchase of 1inch in Australia:

Buying 1inch anonymously is challenging due to extensive regulations governing significant exchanges and platforms. The key to maintaining anonymity is to avoid providing personally identifiable information.

Crypto ATMs offer an option for anonymous purchases, as they only need the funds for buying crypto and the wallet address for receiving it. Currently, most ATMs support Bitcoin, Ethereum, and Litecoin, although more are emerging with support for additional coins.

Another method is using prepaid cards to buy cryptocurrencies on peer-to-peer markets. You share the card code with the counterparty, who then sends you the crypto. Visa offers prepaid cards but ensures that personal details are not required to obtain them.

1inch Fees:

The overall cost of acquiring 1inch includes network, exchange, and deposit fees across different platforms. The blockchain charges network fees for processing transactions, supporting the network’s security and operation.

These fees may fluctuate based on transaction volume. The good news is that newer networks are designed to handle high volumes without significant changes to fees, but exchange fees, on the other hand, cover conversion, trading, and related services.

Different platforms have varying fee structures. For example, Binance offers cheaper conversions at 0.1% per trade compared to eToro’s 1%. However, eToro has the advantage because they provide free deposit options.

At the same time, Binance charges $1 for bank transfers and 1.8% for credit card payments. To assess the overall cost of using an exchange, consider the fees associated with different components and compare them to find a cost-effective option.

Securely Buying 1inch in Australia:

Security is paramount when dealing with cryptocurrencies and the exchanges facilitating their purchase. You should begin by verifying the regulatory status of the exchange. Ideally, the exchange should be registered in the country where it operates.

However, this may only sometimes be the case. Some crypto exchanges offer services to users in specific regions through entities registered in nearby or permissive jurisdictions. In such cases, ensure that the regulatory agency is transparent and enforces industry-standard security and legal practices.

1
Min Deposit
$ 100
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
2
Min Deposit
-
Promotion
User Score
4.45
Sign Up Bonuses
App Available
Supports Multiple Altcoins
Visit Site
Description:
KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.
Payment Methods:
AdvCash, American Express, Apple Pay, Bank Transfer, Banxa, Credit Card, Debit Card, Discover, Mastercard, Payeer, Perfect Money, SEPA, Simplex, WebMoney, neteller, , , , , skrill
Full Regulations:
3
Min Deposit
$ 1
Promotion
User Score
4.3
FCA regulated crypto exchange with 4500+ digital assets available for trading
Supports users from over 100 countries including the US and Canada
Withdraw your funds using PayPal or other payment methods
Visit Site
Description:
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Payment Methods:
Apple Pay, Bank Transfer, Debit Card, Google Pay, SEPA, Wire Transfer,
Full Regulations:
Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

Is Buying 1inch Legal in Australia?

1inch is considered legal in Australia. However, it falls under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF 2006), categorising cryptocurrencies as property rather than currency. Exchanges that comply with the regulations and register with the Australian Transaction Reports and Analysis Centre (AUSTRAC) can offer residents 1inch and other cryptocurrencies (excluding controversial privacy coins).

Recently, exchanges were also required to obtain an Australian Financial Services License, treating them similarly to financial services companies. This implies that crypto assets, such as tokens sold for investment and financial purposes, must be classified as regulated financial products.

Is 1inch Taxable in Australia?

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 categorises cryptocurrencies like 1inch as property, subjecting them to Capital Gains Tax in Australia.

Since 2021, the Australian Taxation Office (ATO) has implemented a rule to address tax reporting non-compliance, imposing a 75% levy on any outstanding tax in addition to the original amount owed.

It’s important to note that under Australian crypto tax laws, you must report all cryptocurrency transactions, including exchanges between different cryptocurrencies, trading activities, selling, gifting, and converting crypto to fiat currency.

Additionally, transaction fees may have tax implications as they contribute to the overall cost base, representing the total cost of acquiring, exchanging, or selling crypto assets. For more detailed information about Australian crypto tax laws, it’s advisable to visit the government’s official website.

Final Thoughts

Australian individuals have a range of options to purchase 1inch, and we recommend eToro as the top choice due to its strong commitment to regulatory compliance, thriving community, and social investing features.

Through eToro, users in Australia can easily invest in 1inch using various deposit methods such as bank transfers, credit/debit cards, Poli, and electronic wallets like Neteller. The platform offers favourable deposit limits, with a minimum of $10. At the same time, withdrawal fees remain fixed at $5 regardless of the withdrawal amount.

Conversion fees are also reasonable, with a 0.75% – 1% markup over raw spreads. To start your crypto investment journey, simply visit eToro, complete the sign-up process, and purchase 1inch.

Methodology - How We Picked the Best Platforms to Buy 1inch in Australia

We decided on the best platforms by first testing them individually. Our criteria for assessment include fees, deposit and withdrawal methods, reputation, credibility, security, ease of use, trading features, coin selection, and competitive edge.

The platforms listed on this page are ones that we found to be the best at the features we listed them under e.g. cheapest way to buy 1inch. All platforms have a track record of providing value to users.

We also placed an onus on security and credibility. These platforms have millions of users and employ some of the highest security measures in the industry.

Finally, we considered fees and limits. These platforms have various fees and deposit/withdrawal limits, however, they are all within reasonable limits.

To learn more about how we test and choose platforms, visit our why trust us and how we test pages.

Frequently Asked Questions

What is the safest way to buy 1inch in Australia?
All the platforms listed in this guide are safe ways to buy 1inch in Australia, however, eToro, our top choice, remains our pick for the safest.
What is the cheapest way to buy 1inch in Australia?
According to conversion fees alone, Binance is the cheapest way to buy 1inch in Australia. However, you also need to consider deposit and withdrawal fees, which are free on eToro.
How do I sell 1inch in Australia?
All the platforms listed in this guide allow you to sell 1inch in Australia. Simply navigate to the same interface you used to convert your cash to 1inch, click on Sell and repeat the process.
What is the minimum amount of 1inch you can buy?
The minimum depends on the platform used. On eToro, it is $10, on Binance $10, on Coinbase, $2.
What’s the best 1inch wallet in Australia?
The best 1inch wallet depends on your needs and level of expertise. For frequent users, a hot wallet is most suitable. For occasional long-term investors, a cold wallet may be more appropriate.
Can you buy 1INCH with AUD?
Yes, you can buy 1inch with AUD on an Australian exchange or global platforms like Binance.
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