ACX.io – the Australian Cryptocurrency Exchange

ACX Markets Trading Page

The Australian Crypto Exchange (ACX.io) was established in 2013 as an easy way for Australians to buy and trade Bitcoin and other cryptocurrencies. It has grown into the biggest exchange in Australia in terms of trading volume. It boasts zero fees for Bitcoin and other cryptocurrency purchases and only charges a 1% fee to withdraw funds into Australian bank accounts.

It currently supports the following trading pairs:

  • Bitcoins/Australian Dollars (BTC/AUD)
  • Bitcoins/United States Dollars (BTC/USD)
  • Bitcoin Cash/Australian Dollars (BCH/AUD)
  • Ethereum/Australian Dollars (ETH/AUD)
  • Hshare/Bitcoin (HSR/BTC)

Signing Up with ACX

To open an account, click on the ACX.io sign up page.

ACX Sign-up page

Enter a valid email address and a strong password.

Upon signing up you will be taken to the ACX.io market dashboard and shown Live Trades.

ACX Markets Trading Page

To deposit funds to begin buying Bitcoin or trading, you will need to verify your email and your identity.

ACX My Funds and Profile Icons

In the top right corner of the page, clicking on either the MY FUNDS icon or the MY PROFILE Icon will take you to the ‘verification’ page.

ACX Account Verification page

Clicking on each of the three red icons, EMAIL, ID DOCUMENT and TWO FACTOR, will take you to each separate verification step. Follow the verification steps on each page.

Email Verification

Clicking the EMAIL icon will take you to the Email verification page.

ACX Email Verify

Check your email for the verification message. Click on the verification link in the instructions and sign in. Note that your email address is also your username for signing in.

ACX Email Verified

ID Document Verification with ACX

Once you have signed in, repeat the above steps to navigate to the ID Verification page, then click the ID DOCUMENT icon to get to the ID details page.

ACX ID form

Before filling in the ID details form, you will need to have two ID documents scanned and ready for uploading. You will need to supply one of each of the two document types. Here are the acceptable ID Documents:

ID Document Type

  • ID CARD (National ID Card if applicable)
  • Passport
  • Driver’s License

Proof of Residence Type

  • Bank Statement
  • Tax Bill
  • Utility Bill
  • Telephone Bill (Land-line)
  • Rates Notice
  • Vehicle Registration Certificate
  • Residential Lease
  • Council Rates Notice
  • Contract of Property Purchase

 

The ACX is an Australian registered company that that complies with AUSTRAC Anti-Money Laundering (AML) and Know-Your-Customer (KYC) guidelines and laws.

 

Two Factor Authentication

Setting up Two Factor Authentication (2FA) further secures your account against would-be hackers. There are two types of verification to chose from:

Two Factor Phone

  • Phone – for receiving SMS messages to your mobile device during the login process which you will need to enter to complete sign-in.
  • Google Authenticator – You can install the Google Authenticator smartphone app from the App Store or from Google Play. Use the app to generate a verification code for use during the sign in process. You will need to ‘sync’ the app with the QR code presented on the page.

Google Authenticator

Setting Up Your Bank Account

At some point, you may want to withdraw your funds to your local bank account. It is a good idea to set this up now for easier access to your funds when needed.

Click on the MY FUNDS icon in the top right-hand corner of the screen once logged in.

ACX Funds Icon

Click on the AUD icon and then the Withdraw Addresses link, then follow the steps to create a new address and enter your bank account details. You will need to enter a Label (usually your bank name), Your BSB and Account numbers. Once you have submitted your details, your AUD withdraw address will be stored for future reference. You can repeat the procedure for more bank accounts.

How To Deposit and Withdraw Funds

Clicking on the FUNDS menu item will open a slide-out pane on the left-hand side of the page with all the Deposit and Withdraw options for each of the fiat and cryptocurrencies listed. Each of the currencies displayed in this panel will show your balance and give you the following options:

  • Withdraw
  • Deposit
  • History
  • Withdraw Address

ACX Deposit AUD

How to Deposit Australian or US Dollars

In order to buy and trade Bitcoin and other cryptocurrencies on the ACX, you will need to first deposit some funds from your local bank account.

When you click the Deposit link, you will be prompted to enter the amount.

ACX Deposit $150 AUD

When you click submit, you will be presented with the bank account details needed to make the deposit.

ACX AUD deposit account info

Present these details to your bank in person, or enter them using online banking. Bank deposits typically clear within 2-5 business days.

Check back in periodically and see amount deposited displayed in your ACX account.

Follow the same procedure as above for depositing USD. You will be presented with extra details for international bank deposits, such as the SWIFT code and the deposit bank’s head office address which you will need to present to your bank or enter into your internet banking.

How to Deposit Bitcoin and other Cryptocurrencies

If you already have Bitcoin and you want to send it to your ACX account to trade or to convert to your local fiat currency and withdraw to your bank account, click on the FUNDS menu item. In the left slide out panel, under BTC, click Deposit.You will be presented with a QR code and a Public Bitcoin Address where you can deposit your funds.

ACX Bitcoin Deposit Address

Sending funds to this Bitcoin address will depend on the device your Bitcoin wallet is on. If it is a smartphone, you will be able to scan the QR code and add the amount you wish to send manually. For computer-based Bitcoin wallets, copy and enter the Public Bitcoin Address into your wallet and add the amount you wish to send. Unlike with Bank transfers, your Bitcoin will typically clear within an hour from the money being sent.

 

IMPORTANT: Be sure to copy the correct address exactly. Any errors will result in your funds being lost and unretrievable.

 

At the time of publication, the ACX also offer deposits in Bitcoin Cash (BCH), Ethereum (ETH), and Hcash (HSR). Follow the same procedure as described for Bitcoin above to deposit any of these Cryptocurrencies into your ACX account.

How to Withdraw Australian or US Dollars

To withdraw funds to your bank account, start off by setting up a ‘Withdraw Address’ where you can enter and store your bank account details. If you use multiple bank accounts you can add and store these details her as well. Once stored, you will be able to select the account you wish to withdraw to.

In the FUNDS slide-out panel on the left, and under AUD, click on Withdraw Addresses. Then click on the ‘+ CREATE NEW ADdRESS’ box.

ACX Withdraw Addresses

Enter an identifying Label for your bank account, and add the BSB and Account number, then click the green CREATE button.

ACX AUD label BSB account

Your Bank Account details will appear below and can be repeatedly accessed for future withdrawals.

 

If you have a United States Bank account, follow the same procedure to create a USD withdrawal address. You will be asked to supply further information such as the bank’s name and SWIFT code.

 

Once you have recorded a Withdrawal Address, under AUD, click the Withdraw link.

ACX withdraw AUD

Enter the amount you wish to withdraw, select from the Withdraw Addresses you created in the earlier step, and then click the SEND CODE link. You will receive a numeric code by SMS to your mobile phone. Enter this code into the field and then click the SUBMIT button.

You will receive a confirmation email of your withdrawal. Follow the instructions in the email to confirm your withdrawal.

Typically you will receive your withdrawal within 2-5 business days. International USD withdrawals typically take 2-4 weeks but can take longer.

How to Withdraw Bitcoin and other Cryptocurrencies

As, a prerequisite, to withdraw Bitcoin or other cryptocurrencies, you will need to have a wallet on a device that can accept the cryptocurrency.

Withdrawing Bitcoin and other cryptocurrencies is similar to withdrawing fiat currencies in that you will first need to create Withdrawal Addresses.

On the FUNDS page, under BTC, click the Withdraw Addresses link to create and store a new address.

ACX Withdraw Addresses

Enter a label, typically the name of your wallet software, and enter the wallet address – which is the ‘Receive’ address generated by your wallet software.

ACX crypto withdraw address

IMPORTANT: Be sure to copy the correct address exactly. Any errors will result in your funds being lost and unretrievable.

Once you have created you withdraw addresses, in the FUNDS page, under BTC (or other cryptocurrencies respectively), click the Withdraw link.

ACX withdraw BTC code submit

Enter the amount you wish to withdraw in BTC. The next field indicates the miner’s fee which you can adjust depending on the priority of your transaction (see tooltip below). Then select from the Withdraw Addresses you had set up in the previous step, and then click the SEND CODE link. You will receive a numeric code by SMS to your mobile phone. Enter this code into the field and then click the SUBMIT button. You will receive a confirmation email of your withdrawal request. Follow the instructions in the email to confirm your withdrawal.

TOOL TIP

Miner’s fee: Miners get compensated by users for including their transaction into a block in the blockchain. The ACX will typically recommend a standard fee. This means your transaction will on average be mined within an hour. Adjusting this fee higher typically results in your transaction being mined into the next block or two. You can also add a reduced fee if you are not fussed about when your transaction is mined. Typically your transaction will clear after all higher paying fee transactions have been mined.