Crypto cost guides

Sell Bitcoin where it is, or transfer it first?

If another exchange pays more for Bitcoin, or charges less to sell, moving it there first can leave you with more AUD, after the withdrawal fee.

Worked example

You hold 0.05 BTC. Selling where it is, at a A$99,900 bid and a 0.85% fee, returns A$4,952.54. Moving it costs a 0.00006 BTC withdrawal fee; selling the rest at another exchange's A$100,000 bid and 0.1% fee returns A$4,989.01. Moving first is worth A$36.47 here.

What the numbers leave out

A transfer takes time to confirm, and the price can move while it does. The other exchange may also have a minimum deposit, or hold new deposits before you can sell.

Tax

Selling for AUD is a disposal for capital gains tax wherever you sell. Moving Bitcoin between your own accounts isn't, but the ATO counts a fee paid in BTC as a small disposal. This is general information, not tax advice. For your own situation, read the ATO's guidance or ask a registered tax agent.

Compare selling here with transferring first

Related guides

• Bitcoin withdrawal fees: what reaches your wallet
• Crypto records for Australian tax

Further reading: Australian Taxation Office: crypto asset investments. Examples use round illustrative prices, not live quotes; the tools use live order books. General information, not financial, investment or tax advice.