How to sell crypto and get dollars in your bank
Cashing out is two separate steps that people often treat as one. First you sell — swapping the coin for Australian dollars inside the exchange. Then you withdraw — moving those dollars to your own bank account. They cost different amounts, take different lengths of time, and only one of them is taxed.
Where the money actually goes
Most people worry about the withdrawal fee. It is almost never the problem: 14 of the 15 exchanges we track charge nothing to withdraw AUD — the exception is eToro (A$5.00). What the exit really costs you is the sell fee and the spread, and across that same set of platforms those vary tenfold.
Cost to sell A$1,000 of crypto
| Exchange | Market sell | Instant sell | AUD withdrawal |
|---|---|---|---|
| OKX | A$1.00 0.1% | A$7.00 | free |
| Binance | A$1.00 0.1% | A$5.00 | free |
| Crypto.com | A$2.50 0.25% | — | free |
| Kraken | A$4.00 0.4% | — | free |
| Independent Reserve AU | A$5.00 0.5% | A$5.00 | free |
| Digital Surge AU | A$5.00 0.5% | A$5.00 | free |
| Swyftx AU | A$6.00 0.6% | A$11.50 incl. spread | free |
| Coinbase | A$6.00 0.6% | A$6.00 | free |
| Cointree AU | A$7.50 0.75% | A$7.50 | free |
| BTC Markets AU | A$8.50 0.85% | A$8.50 | free |
| Coinstash AU | A$8.50 0.85% | A$8.50 | free |
| CoinSpot AU | A$10.00 1% | A$19.00 incl. spread | free |
| CoinJar AU | — | A$10.00 | free |
| Elbaite AU | — | A$10.00 | free |
| eToro | A$10.00 1% | A$10.00 | A$5.00 |
Market sell uses the taker fee on the trading screen. Instant sell uses the one-click fee plus a verified spread estimate where we hold one — where the spread column is blank the real cost is likely a little higher than shown. Same verified fee data as the fee calculator; a dash means we have not verified that figure for that platform.
Getting the dollars out
13 of the platforms we track support PayID or Osko for AUD. Those run on the New Payments Platform, which is built to move money between Australian banks in close to real time; a plain bank transfer settles on business days instead. The exchange's own processing and security checks sit on top of that, and a first withdrawal, a new payee or an unusually large amount can all add a hold — so the transfer rail is a floor on the time, not a promise.
The account has to be in your own name. AUSTRAC-registered platforms match the receiving account against the verified identity on the exchange account, and a mismatch normally means a rejected or frozen withdrawal rather than a delayed one.
The part that surprises people
Selling into a stablecoin is still a sale
Moving from Bitcoin into USDT or USDC to "sit in cash" is a disposal for tax purposes, even though no Australian dollars have gone anywhere. The gain or loss is calculated at that moment. How crypto tax works · what stablecoins actually are
The 12-month line is a date, not a feeling
Individuals may qualify for the 50% CGT discount on assets held longer than 12 months, and each parcel you bought has its own clock. Selling a week early is a decision with a number attached. Work it out on your numbers
Instant sell is the expensive door
The one-click button is the convenient one and charges for it — a higher percentage plus a spread baked into the quoted price. The trading screen on the same platform is usually cheaper for the identical sale. See the gap in dollars
Keep the records now, not in July
Date, AUD value, fee and what you paid originally, for every disposal. Exchanges close, and some have closed with the records inside them. Tools that do this for you · the dates that matter
Then what?
If you are selling to move off a platform rather than to leave crypto entirely, self-custody avoids the sale and the tax event altogether — moving your own coin to your own wallet is not a disposal. If you are selling because a platform worries you, the exchange comparison and the licensing tracker are the places to look before choosing where to go next.
FAQ
Do I pay tax when I sell crypto in Australia?
Selling crypto for Australian dollars is a CGT event, so a gain or loss is calculated on that disposal. Swapping one coin for another — including swapping into a stablecoin — is also a disposal, even though no dollars reach your bank. Our <a href="/tax/">crypto tax guide</a> covers how it works and the <a href="/tax/calculator/">tax calculator</a> applies the 12-month discount check to your own figures.
Is it cheaper to sell with a market order or the instant sell button?
A market order on the trading screen is usually cheaper, often substantially. The one-click instant option typically charges a higher percentage and quotes you a price that already includes a spread, so you pay twice without seeing it itemised. The table above shows both where we have verified figures.
How long does the money take to reach my bank?
Two separate steps: the sale itself settles on the exchange immediately, then the AUD withdrawal has to reach your bank. Withdrawals sent over PayID or Osko run on the New Payments Platform, which is built for near-real-time transfer; ordinary bank transfers settle on business days. Exchanges also apply their own internal processing and security checks before releasing funds, and we do not hold verified per-exchange processing times, so treat any specific figure you see elsewhere with caution.
Can I withdraw to someone else’s bank account?
No. AUSTRAC-registered exchanges require the receiving account to be in the same name as the verified account holder, and a mismatch normally means the withdrawal is rejected or frozen pending identity checks. Plan around it if you are selling on behalf of a trust, company or SMSF — see our <a href="/smsf/">SMSF guide</a> for that case.
Should I sell everything at once?
That is a decision about your own circumstances rather than a technical question, and we do not give financial advice. What we can point out factually: assets held longer than 12 months may qualify for the 50% CGT discount for individuals, so the holding date of each parcel can matter to what you keep. The <a href="/profit-calculator/">profit calculator</a> shows the difference on your own numbers.
Ad disclosure: links marked * may earn us a commission. It never affects scores or rankings. How we make money
Fee figures come from our verified exchange database and are shown with the date they were last checked on each exchange page. Tax information here is general information about how the rules work, not advice about your situation — we are not licensed to give that. The ATO publishes the authoritative guidance on crypto disposals. General information only.