Best Bitcoin Wallet Australia

Best Bitcoin Wallets

In this guide we’ll review the best Bitcoin wallets for Australian investors, what a Bitcoin wallet is and how you can use a Bitcoin wallet.

Billionaire investors and business magnates such as the Winklevoss twins have tipped Bitcoin to one day match Gold in terms of market capitalization (which has an $11 trillion market cap), at which point the price of Bitcoin would be approaching seven figures.

If you’ve recently invested in the best financial asset of the last decade, the next step is learning how to secure every Satoshi safely to hold it as a long-term investment until you decide to take profit and sell it back into AUD. For that you’ll need a Bitcoin wallet.

Top Bitcoin Wallets in Australia - Quick List

  • eToro - also supports staking of ADA, ETH, TRX
  • Binance - supports over 75 locked staking options
  • Coinbase - withdrawals not available in Australia, but you can still buy Bitcoin and hold it in their Bitcoin wallet
  • Trezor - a popular hardware wallet

The top three on our list are exchange wallets that all have mobile apps for convenient access to your Bitcoin wallet on your Android or iOS device.

Scroll down for a full review and guide to the best Bitcoin wallets in our list, or read on to learn more about what Bitcoin wallets are and how they work.

Open an eToro Bitcoin wallet today.

What is a Bitcoin Wallet?

As with traditional paper money, also known as cash or fiat currency, you need to keep it somewhere, whether in a physical wallet in your pocket, on your bank cards or in the bank. Bitcoin is no different.

Hardware Wallets

The wallet in your pocket - or stashing stacks of bills under your bed - is analogous to a hardware wallet. You definitely own your own capital, but it could be mislaid if you drop it, your house burns down, you’re robbed, etc. 

Despite the risk some people prefer this, and repeat the common mantra ‘not your keys, not your crypto’ - referring to when you own a hardware wallet, you own the private key, whereas when your Bitcoin is held on an exchange it could be hacked and lost.

Sometimes a hardware wallet is also known as a cold wallet, or referred to as putting your Bitcoin in cold storage. We’ll review two of the best Bitcoin cold storage wallets available in Australia below.

Exchange Wallets

Putting your money in the bank is analogous to using an exchange wallet - except the returns from holding Bitcoin far outpace any interest rates of high street banks, even fixed-term savings accounts.

Technically the bank could be robbed and your money lost, although this is unlikely to happen - in reality you are more likely to be refunded, although it may take time. 

Some people prefer to hold their coins on a reputable, regulated exchange for peace of mind, worried they would lose a hardware wallet and their investment which potentially could be worth much more in the future. We’ll review three of the most well-established platforms that accept Australian customers below, our top pick being eToro.

Best Bitcoin Wallet Type - Our Recommendation

Cryptocurrency exchanges today are much more regulated and well-established compared to the early, Wild West years of Bitcoin a decade ago.

Even some unregulated exchanges that were hacked in the past - such as the famous case of Mt Gox being hacked for 850,000 Bitcoins in 2014 - are now finally in a position to begin reimbursing customers, announcing a repayment plan in 2021.

There are also some exchanges such as eToro that have been around since before the advent of Bitcoin - at that time being a stock exchange and forex broker, adding cryptocurrencies later - and never been hacked.

If they ever were, we can also expect them to repay customers, and much quicker - although those hacked in 2014 will actually have made a very high ROI by being forced into a seven year hold.

We recommend beginners hold their crypto on one of the long-established cryptocurrency casinos below, and leave hardware wallets to more experienced investors.

Another advantage to having your Bitcoin on an exchange is being able to sell or hedge short faster if the markets go into a correction, which can happen rapidly in crypto as the markets are more volatile than stocks and other digital assets.

Best Bitcoin Wallets in Australia Reviewed

Bitcoin Wallet eToro

eToro Exchange Wallet

eToro is one of the most reputable and well-established brokers in Australia and worldwide - it’s open to AU, NZ, US, CA, UK, EU users and more.

Alongside stocks, forex, commodities, ETFs and other asset classes, you can buy and sell 120+ cryptocurrencies on a user-friendly interface suitable for beginners.

Rather than charging maker and taker fees it uses a spread system and has fewer advanced trading features such as chart indicators for technical analysis than Binance, experienced day traders may prefer to open accounts on both. 

The advantages of eToro are unique to it - it has a social trading feature where you can copy the trades of an investor with a proven track record of being profitable. Or match your portfolio allocation to theirs.

As well as copy trading every user has a social media style feed where they can post their thoughts on the markets and the price action of any particular coin or token, and network with other traders to bounce ideas off them and hear their price predictions.

Your funds are kept safe in the eToro Money wallet they provide all users - that unique eToro wallet has an unlosable private key and free recovery service if you lose your credentials. So it's impossible to lose your funds. 

You will be required to verify your account with an official government-issued ID - such as your passport or driving license. eToro is a regulated company - by the ASIC, FCA, and CySEC - in operation since 2006, with a history of protecting clients’ personal information.

The eToro Money wallet also has high-level security features to protect against unauthorized access and DDos attacks.

While your Bitcoin is held on the exchange, you could also decide to buy Ethereum (ETH), Cardano (ADA) or Tron (TRX) to diversify your portfolio and earn staking rewards - these three cryptos can currently be staked on eToro to generate passive income while holding.


  • Most Regulated Exchange
  • Social Trading & Copy Trading
  • Unlosable Private Key Bitcoin Wallet


  • Active day traders may prefer the maker / taker fees and more TA indicators on Binance
  • Not anonymous

Trustwallet Bitcoin Wallet

Binance Exchange Wallet

Binance is the most popular cryptocurrency exchange in terms of trading volume, i.e. it’s the place most traders go to profit from the short-term swings in the market. 

That makes sense as it has far more advanced TA indicators than eToro or Coinbase, and offers margin trading, also known as futures - where experienced traders can long or short on leverage to increase profit gains made from price movements, and risk less to hold a larger position size. Remember to use a stop loss if you try that.

Binance also offers the widest range of altcoins, the smaller cryptos other than Bitcoin - compared to around 100 different coins on eToro and Coinbase, there are over 500 on Binance. 

Binance also supports DeFi staking, i.e. some DeFi tokens can be staked, alongside other types of crypto staking, yield farming and mining. There’s an entire ‘Binance Earn’ part of the exchange dedicated to that - currently there are 76 different types of locked staking products.

To safely store all of these cryptocurrencies, Binance offers a crypto wallet, also known as Trust Wallet, with 10 million users around the world, including in Australia. It functions both as a Bitcoin wallet and a crypto wallet for other types of coins.

You can access your Binance account in-browser, on a downloadable desktop client, or via mobile app.

The downside is that Binance is not regulated and doesn’t have copy trading, so you may prefer to open accounts at both eToro and Binance to split your funds across two Bitcoin wallets and take advantage of the different features each offer.


  • Most Coins Supported
  • Margin Trading
  • More Charting Indicators


  • Not Regulated
  • No social trading

Coinbase Bitcoin Wallet

Coinbase Exchange Wallet

Coinbase is the most popular cryptocurrency exchange in terms of number of registered users - so while it has a lower trading volume than Binance, many people know and trust the brand.

Bear in mind that withdrawals are not currently available to Australian bank accounts however you can use Coinbase in Australia to buy Bitcoin, store it and send a Bitcoin transfer to another exchange such as eToro when you wish to sell your holdings.

The separate Bitcoin wallet it offers is simply known as Coinbase Wallet. You can also use that as a standalone Bitcoin wallet without opening a Coinbase account if you wish, or have both and be able to link them and easily transfer between each.

Using a Coinbase wallet you can store both cryptos and NFTs (ERC721 tokens), and your assets are protected by industry-leading security protocols. Coinbase Wallet supports over 4000 tokens, more than are able to be bought and sold on Coinbase itself.

You can also use Coinbase wallet to earn yield and borrow crypto through DeFi liquidity pools.

Coinbase Wallet protects your private keys with high-standard security systems, including Secure Enclave, biometric authentication, and optional cloud backups. It’s a self-custody wallet, so you have complete control over your crypto.

For active traders, Coinbase Pro (the attached exchange of Coinbase) does also lack the TA indicators and margin trading of Binance, and the copy trading options of eToro. It’s more suited to holding coins as a long-term investment.


  • Trusted brand - publicly traded company
  • Store NFTs


  • Not Regulated
  • No social trading
  • Few Chart Indicators


If you’d still prefer to use a hardware wallet, one of the most reputable cold storage Bitcoin wallets is Trezor, similar to other well-established products such as the Ledger Nano S.

The Trezor Bitcoin wallet is a small device able to hold BTC, ETH, XRP, ADA, ZCASH and more.

Launched in 2014, Trezor was the first hardware wallet to offer secure cold storage of Bitcoin. You can buy a Trezor wallet for under $100, and it comes with a USB that connects the wallet to your computer. 

You will also receive a list on which you’ll create a 24-word security code for your Trezor that you can use to recover your wallet in the event of misplacing your Trezor wallet. 


Heading into 2022, the cryptocurrency markets are much more well-established and secure than in previous years, and many beginner investors feel safe simply leaving their coins on an exchange, taking advantage of some of the best Bitcoin wallets which have been produced by the major exchanges.

Those exchange wallets now offer state of the art security, access to staking, DeFi, and have mobile apps. They are also linked to the exchange trading platform so you can instantly sell your assets if you wish to.

Most investors and traders open accounts on more than one exchange to take advantage of the different features and special promotions offered, and not keep all their eggs in one basket.

Our top recommendations for the best Bitcoin wallets in Australia and most parts of the world are eToroBinance and Coinbase. When making a withdrawal from Coinbase, transfer your funds first to one of the other two exchanges as Coinbase doesn’t support withdrawals in Australia.

For those looking for the best cold storage Bitcoin wallet, Trezor has been the longest-running name in that field and still sets the standard for the industry in terms of privacy and security.

In terms of regulation and licensing, eToro is regulated by the Australian Securities and Investments Commission (ASIC), with an office in Sydney NSW and holding an Australian financial services license, making it ideal for AU based residents wanting peace of mind while holding their cryptocurrency assets.

Open a Bitcoin wallet in Australia here.


Can a Bitcoin wallet be hacked?

The recommendations we made on this best Bitcoin wallets list haven't been hacked. Some other Bitcoin wallets have been, such as the famous Metamask wallet hack. Always ensure you don't click any phishing links in emails, visit websites that are not secure, or ever provide your seed phrase or private keys online - imposters will often imitate famous people, or exchanges themselves - one common scam in 2021 has seen hackers pretending to be Coinbase support and sending a Google doc to people on Twitter asking for their credentials to fix issues with their account.

What's the best Bitcoin wallet in Australia for beginners?

If you're inexperienced in crypto, we recommend eToro as it has a beginner-friendly user interface (UI) that its hard to make mistakes or errors on. They also offer free educational courses to learn how to trade, buy cryptocurrency, stake coins, and more.

Can I use Coinbase in Australia?

You can't currently withdraw to an AU bank account from Coinbase but you can use Coinbase to buy Bitcoin and other cryptos using your Australian debit card, trade the market swings by buying and selling on the exchange back and forth into your portfolio balance, and use their Bitcoin wallet. When you want to withdraw crypto funds to an Australian bank account, simply send it off the exchange first to another exchange that accepts Australian residents, for example eToro.