Trading

How do I buy digital assets?

Log in to your BTC Markets account. Click on Account, then Deposit for payments options.

We support card deposits from Australian issued Visa and Mastercard bank cards (prepaid cards are not accepted), and instant OSKO PayID payments and direct deposits from your bank (remember to include your BTC Markets deposit reference in your bank message to avoid delays).

With funds in your account, you can place a buy order.

Click on Buy/Sell in the top menu.

The easiest and quickest way to buy any digital asset is to select a Market Order.

For large instructions over $AUD100k, please contact our OTC support team.

How do I sell digital assets?

Log in to your BTC Markets account and click Buy/Sell. Scroll down to the red lettered Sell form and enter the volume and price.

The easiest and quickest way to sell any digital asset is to select a Market Order.

For large instructions over $AUD100k, please contact our OTC support team.

What is the Order Book?

The order book is a list of all buy and sell orders currently placed.

What is a Market Order?

A market order will buy or sell immediately, at the best available price.

Check prices in the order book, before placing your trade.

To create a market order, scroll down to the Market Order tab on the Buy/Sell page.

What is a Limit Order?

When you place a limit order, you decide your price to buy or sell.

To create a limit order, scroll down to the Limit Order tab on the Buy/Sell page.

It is added to the order book for someone to then submit a matching order.

What is a Stop Order?

A stop order is an enhanced order type. It allows traders to automatically place a market order, once the stop price has been met.

The order will execute at the market price until it is fully matched, or there are no other orders to match against.

It is currently available only for Sell orders.

To create a stop order, scroll down to the Stop Order tab on the Buy/Sell page.

Please ensure you read and understand the Support Guide before placing any enhanced order.

What is a Stop Limit Order?

Stop limit orders are an enhanced order type. It allow traders to place orders that automatically execute when price conditions are met.

This limit order will execute at the market price until either it is fully matched or the market price moves beyond the limit order.

To create a limit order, scroll down to the ‘Stop Limit’ tab on the Buy/Sell page.

Please ensure you read and understand the Support Guide before placing any enhanced order.

What is a Take Profit Order?

Take profit orders are an enhanced order type, used to exit your trade at a profitable position.

Take profit orders can only be set above the current market price. It allows a trader to automatically place a market order, once the take price has been met.

It executes at the market price until it is fully matched, or there are no other orders to be matched against.

To create a Take Profit order, scroll down to the ‘Take Profit’ tab on the Buy/Sell page.

Please ensure you read and understand the Support Guide before placing any enhanced order.

What are Advanced Limit Orders?

BTC Markets currently supports Time-in-Force and Post-Only orders.

Time-in-force orders allow traders to control the amount of time an order is active, before it is either executed or expires.

Three time-in-force orders are explained in our Support Guide.

With Post-only options, the order will only be posted to the order book if it does not result in a trade taking place.

This option is primarily used by market makers and liquidity providers.

Please ensure you read and understand the Support Guide before placing any enhanced order.

Why is my order stuck as an Open Order?

Newly placed orders first go into the order book as an "Open Order".

When part of your Open Order matches with another user, it becomes a Partially Matched Order.

When all of your order matches, it becomes a Fully Matched Order or Completed Order.

Completed orders are removed from the order book.

I have waited a long time and my order is still not completed?

If your trade has not completed, check the status via the Open Order tab on the Buy/Sell page.

Review the price to see if it's near market average. You may have to cancel and resubmit a more competitive offer to quickly match your order. This is all part of trading.

Can I cancel a trade?

You may cancel your order before it trades, or if it is a partially matched order.

Click on Buy/Sell then Open Orders. The cancel button is to the left of Open Orders.

How are large instructions handled?

If you wish to buy or sell a large number of digital assets please contact our OTC support team.

What charts are available?

We use TradingView charts. For more information, please visit TradingView.

Withdrawals & Deposits

How do I withdraw (send) digital assets?

Log in to BTC Markets, click Account and Withdraw.

Select your withdrawal type (AUD or crypto) and enter your details.

For crypto withdrawals, please ensure you enter the correct blockchain address.

There are daily withdrawal limits for both asset types. Small processing fees are charged for crypto withdrawal.

How do I deposit (receive) digital assets?

Log in to BTC Markets, click Account and Deposit.

Select your deposit type (AUD or crypto).

For AUD, we support card deposits from Australian issued Visa and Mastercard bank cards (prepaid cards are not accepted), and instant OSKO PayID payments and direct deposits from your bank (remember to include your BTC Markets deposit reference in your bank message to avoid delays).

For crypto, choose the specific digital asset and click Generate Address. You use this address to receive specific digital assets to your BTC Markets account.

Why do I have Pending Funds?

When you create an order, it is entered in the order book and the unmatched money shows as pending.

Pending funds are released if the order is matched or removed if the order is cancelled.

On cancelled orders, funds are returned to your balance immediately so you may trade again or withdraw.

I have tried to withdraw but I get the error "Insufficient Funds"?

You can only withdraw funds up to the amount of your available balance.

If you are getting the error "Insufficient Funds" unexpectedly, you may have some open orders that are holding some funds.

You may wish to cancel your open orders to be able to be able to withdraw those funds.

Unprocessed withdrawals or open orders (as indicated by pending funds) can be viewed at your Account page.

Why is my digital asset withdrawal pending?

First-time user withdrawals are subject to a security check to prevent fraud.

We manage withdrawals to ensure they are timely processing once cleared by our fraud-prevention systems.

I can't see my digital asset on the blockchain?

Please contact our support team and provide details of the transaction. We endeavour to ensure all transactions are completed as quickly as possible.

Security

How do I verify my account?

To deposit or withdraw to/from your account you must be verified. Verification is usually a quick process but in rare cases, it may take a few days.

Once logged in, click Account then ID Verification. You will be redirected to greenID, an industry-standard verification service. The easiest and quickest way to verify is to use your passport and driver's license.

Please contact our support team if you experience any issues.

Why must I verify my account?

As a reporting entity, BTC Markets complies with all of its obligations under the Australian AML/CTF legislation. More details can be found on our AML/CTF Policy page.

We ask our users to verify their accounts as part of our KYC (Know Your Customer) policy. We may also ask for additional documentation to confirm your identity.

Is BTC Markets safe and secure?

The security and privacy of client data is our top priority. We run regular reconciliations of funds - twice a day for crypto and hourly for AUD - to ensure we have a full reserve.

We also apply best practices, with continuous development and enhancement of our security measures.

What is Two-Factor Authentication (2FA)?

Two factor authentication (2FA) is an extra layer of security. After submitting your account password, you request a code via the Google Authentication app on your phone. You enter the code on our platform to then access your account.

My two-factor code has stopped working and I can't log in?

The two-factor code is very time sensitive. Even if it is out by a few seconds it may prevent you from accessing your account.

Please check the time and date on your phone is fully synchronised and accurate.

I have lost my phone / two-factor code and can't log in?

Please follow the instructions on the Two-Factor Reset page to regain access to your account.

How do I change my name listed in my account?

In many cases name changes are not possible. Please contact our support teamand provide details related to the name change.

How do I change my password?

You can change your password by using the Change Password page; or if you are unable to log in, the Password Reset page.

How do I change my email address?

For security reasons, we do not allow email address changes.

If you want to use another email address, please contact our support team to arrange an account migration.

Should I store my digital assets on your site?

Our clients may confidently entrust their cryptocurrency with us. However, our recommendation is that clients should manage and safely secure their own assets.

We believe digital asset storage reserves should not be reliant upon a single entity, such as a bank, exchange or third-party wallet management system.

This philosophy is inherent to the nature of peer-to-peer digital assets.

Do you manage a full reserve?

We use a cold wallet and hot wallet system to securely manage digital assets.

We maintain a full reserve and process reconciliations regularly.

This gives confidence that the funds shown in accounts match what is really in our bank and cold wallets.

Our encrypted cold wallet storage is off-site in multiple locations. Each location is physically secure and physically diverse.

BTC Markets holds the ISO 27001 certification. What is that?

The ISO 27001 certification, issued by British Standards Institution (BSI), is an internationally recognised award for Information Security Management Systems protocols.

The ISO 27001 certificate is highly sought-after by banks and other institutions within the financial services sector.

It signifies that the entity in question has a robust information security management system that meets the highest of industry standards at a global level.

General

What is the blockchain?

The blockchain is the record of every digital asset ever generated and every transfer from one party to another.

Each digital asset that is based on the same type of technology as Bitcoin has its own blockchain.

What are digital assets?

Bitcoin cryptocurrency is an example of a digital asset. You can send Bitcoin as easily as sending an email.

Like cash, Bitcoin transactions are irreversible. Bitcoin and other digital assets are traded on exchanges worldwide.

What is BTC Markets?

BTC Markets is an Australian marketplace for buyers and sellers to exchange digital assets. We are 100% Australian, privately owned with all staff based in Australia.

You trade with other users of the site. The price you buy or sell is up to you. The price is influenced by demand and supply from buyers and sellers on this exchange.

The current price shown is the last price at which a buyer and seller agreed to exchange.

Do you allow VPNs?

We do not specifically disallow the use of VPNs. However, the use of a VPN can cause delays in our identity verification systems. This may also impact the processing of deposits and withdrawals.

Due to these potential issues we recommend not using a VPN while accessing your BTC Markets account.

Does BTC Markets buy and sell digital assets from other exchanges?

No. We only provide a service for our users to safely trade with one another. Our digital assets are sourced with deposits from our users. Some of our users are also liquidity providers.

See our Terms of Servicefor an explanation of how we work with Liquidity Providers.

Do I need my own wallet?

We offer a managed service. Once you have bought digital assets you may send, receive and store them on our exchange. However, we also recommend that users manage their own funds and withdraw to a personal wallet after purchase.

There are many third-party wallets to choose from, such as the popular Blockchain Wallet for Bitcoin or Electrum for Litecoin. If you prefer to manage your own wallet service, you may choose to download Bitcoin Core or Litecoin Core. We recommend you read up on how best to manage your blockchain wallets.

Do you have an API?

Yes, we do, and all the documentation and sample code can be found on GitHub.

Can I use this site to assist with the paying of ransomware?

No. The use of our services for the purpose of payment to ransomware is strictly forbidden and is against our Terms of Service.

Any users found to be using our services for such purpose will have their account terminated.

Can I use this site to engage in illegal activities?

No. The use of our services to engage in any illegal activities is strictly forbidden and is against our Terms of Service.

Any users found to be using our services for such purposes will have their account terminated.

What does the "ADCA Gold Certification" mean?

The Australian Digital Currency Industry Code of Conduct is a voluntary scheme that establishes externally auditable best practice standards for businesses operating in the Australian Digital Currency industry.

The Code of Conduct is administered by the Australian Digital Currency & Commerce Association and is available for adoption by businesses operating in Australia that provide or facilitate the:

  • purchase or sale of a Digital Currency; or
  • purchase or sale of a fiat currency in connection with a Digital Currency; or
  • storage of a Digital Currency.

The Code of Conduct establishes Best Practice Standards covering:

  • reputation and general business conduct;
  • consumer protection; and,
  • AML/CTF obligations.

ADCA Certification means that the participating Digital Currency Business has been assessed to have business processes, systems and policies in place that will ensure consistent compliance with the Code of Conduct, including the Best Practice Standards. Compliance with the Code of Conduct is independently reviewed every two years by an ADCA approved external auditor and self-certified every other year.

BTC Markets is a member of ADCA and has held ADCA Certification under this Code of Conduct since February 2018. The full text of the Australian Digital Currency Industry Code of Conduct is available here (PDF).