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Can a business buy cryptocurrency?
The short answer is yes. Australian businesses can legally buy, hold, and use cryptocurrencies like Bitcoin and USDT. Key considerations include:
- Tax obligations: The ATO treats crypto as a CGT (capital gains tax) asset.
- Record-keeping is essential: Businesses must keep detailed records of all crypto transactions – including the including dates and AUD values at time of purchase, sale or trading – for at least five years.
How to buy Bitcoin and crypto as a business
Open a business account with a crypto trading platform
You can register your business with a digital currency exchange, such as Independent Reserve. Here’s what you will need to open a business account:
- Your government-issued ID (e.g. driver’s licence or passport)
- Proof of address (under 6 months old – no phone bills or PO boxes)
- Company details (including ABN, ACN, and address)
- ASIC company extract showing directors and officeholders (example here)
- Details and ID of all directors and beneficial owners (anyone with 25%+ control)
Allow 1 to 2 business days for review. Trading begins once your account is fully verified.
Deposit funds
After your company account is created, you can deposit funds using a range of supported payment methods:
- EFT bank transfer: Free for deposits over $100.
- PayID: Instant and free for deposits over $100.
- Credit/debit card: Instant using Visa or Mastercard.
- PayPal: Instant.
How to deposit funds (including AUD, NZD and USD) on Independent Reserve
Using a web browser:
- Log in to your account.
- Click Quick Deposit.
- Follow the prompts to deposit using your preferred method.
Using the mobile app:
- Open the app, and tap Wallets.
- Click Quick Deposit.
- Follow the prompts to deposit using your preferred method.
Buy Bitcoin and crypto as a business
Once funded, your business can buy, hold, or sell crypto through the Independent Reserve trading platform.
You can also deposit and withdraw crypto directly through your external company crypto wallet, with support for integrated cross-chain support.
Why choose Independent Reserve for your business?
- Established expertise: Founded in 2013, Independent Reserve is one of Australia’s first cryptocurrency exchanges and trusted by thousands of businesses.
- Enterprise-grade security: Most user assets are stored offline (cold storage) in secure underground vaults. Account security includes features like 2FA and withdrawal address whitelisting.
- White-glove service: Our expert team offer consultations and assistance in identifying or integrating our services with your operating model to meet your financial objectives.
- Advanced tools: Execute automated trades with Autotrader, streamline compliance with detailed tax reporting, and manage tailored access levels across multiple users securely.
Speak to a relationship manager
Do have questions or require assistance? Speak to a relationship manager. We will respond within one business day.
Frequently asked questions
Can I open a business crypto account as a sole trader?
Yes. Sole traders can open a business account using their ABN.
Are there deposit or withdrawal limits for business accounts?
Yes, daily deposit limits apply. See your deposit screen for details. To request a higher limit, contact our support team.
If you are looking to trade more than $50,000, our over-the-counter (OTC) trading desk offers deeper liquidity and a private, more personalised service.
Whether you’re looking to execute large orders efficiently or integrate crypto into your broader treasury function, our team is here to support your needs.
Can I buy crypto with a PayPal business account?
Yes. Daily and weekly deposit limits apply for PayPal, see your deposit screen for details and our fee schedule for a list of all fees and charges.
