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    Best Crypto Exchanges Australia: 2022 Reviewed & Compared

    Updated: Sep 27th, 2022
    Kevin Groves
    Kevin Groves
    Best Crypto Exchanges Australia: 2022 Reviewed & Compared

    Looking for a crypto exchange in Australia? With so many options available, it can be a difficult task for beginners to find an exchange that's the right fit for them. We have spent the last 24 months testing and reviewing more than 100 crypto platforms to find the best cryptocurrency exchanges in Australia to help make an informed decision. Our methodology for selecting the top picks included creating an account, depositing funds and buying crypto to experience the full features of each crypto exchange.

    Best Crypto Exchange Australia for 2022

    Based on our reviews and comparisons, these are the best crypto exchanges for Australia:

    1. Swyftx (overall best cryptocurrency exchange in Australia)
    2. Coinspot (best Australian crypto exchange for security)
    3. Digital Surge (best crypto exchange in Australia for low fees)
    4. Binance (best crypto platform in Australia for altcoins)
    5. FTX (best crypto exchange for margin trading)
    6. CoinJar (best for ease of use)
    7. Independent Reserve (best for SMSF)
    8. Coinbase (best for debit card purchases)
    9. Kraken (suitable for advanced traders)
    10. eToro (suitable platform for copy-trading)
    11. Cointree (popular local exchange)

    This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

    Best Australian Crypto Exchanges Reviewed

    Here is our top list of cryptocurrency exchanges for Australians to use.

    1. Swyftx - Overall Best Crypto Exchange In Australia

    Why we picked it: Swyftx is our top-rated crypto exchange in Australia due to its purpose-designed and customizable user interface. The abundance of features will suit beginners and advanced traders that want to trade over 320 coins. With its $20 welcome bonus, instant AUD deposits and withdrawals, demo mode, low fees of 0.6% and live chat support, Swyftx is a class above the others. Swyftx is also offering a $20 Bitcoin referral code for individuals that create an account and complete the account verification process. The promotion is available for users who sign-up using our link.

    HedgewithCrypto Score
    HedgewithCrypto Score
    4.8/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    StarStarStarStarEmpty Star
    Trading Fees:0.6%
    Country:Australia, New Zealand
    Currency:AUD, USD
    Promotion:$20 Bitcoin for creating a verified account
    Ease of useStarStarStarStarEmpty Star
    ReputationStarStarStarStarStar
    Deposit methodsStarStarStarStarStar
    FeesStarStarStarStarEmpty Star

    Swyftx is an AUSTRAC registered Australian cryptocurrency trading platform with over 600,000 users that provide a simple and transparent way for individuals to invest in cryptocurrencies using AUD, USD and BTC. Australians can buy Bitcoin or another crypto asset quickly on Swyftx using AUD or USD. There are a wide variety of methods to transfer funds to an exchange account. Customers can rapidly deposit up to $50,000 worth of AUD using a bank transfer, OSKO, POLi payment and PayID through an Australian bank. There are zero fees to deposit and withdraw AUD to a bank and is one of the only Australian exchanges that supports debit and credit card payments.

    Swyftx websiteSwyftx website

    Swyftx is suited for beginners to intermediate users with its beginner-friendly mobile app, tax calculator and dollar-cost averaging tools. Other useful features include rapid AUD deposits and withdrawals, portfolio tracking, recurring orders, low trading fee, demo account mode and price alerts. For long-term investors, the exchange has also introduced Swyftx Earn to earn interest on crypto deposits. The funds are not locked in and can be withdrawn at any time making Swyftx one of the best crypto interest platforms in Australia for earning crypto interest on a wide selection of coins with over 10% APY on offer.

    swyftx comparedswyftx compared

    For traders on the move, the Swyftx app has an innovative trading experience that is modern, fresh and fully customizable. It can be tailored to suit each investor to monitor their portfolio and place trades 24/7. There is also the ability to toggle dark mode and even a demo exchange account to practice trading crypto.

    When it comes to fees, Swyftx is an economical exchange with low fees that start from a nominal 0.6% per trade. Moreover, Swyftx is advantageous over its competitors due to its industry-low spreads that average 1.7% vs the industry average of 4%. For those looking for a cheap crypto exchange in Australia, Swyftx Exchange has one of the lowest combined fees and spread costs with reasonable crypto prices to buy Ethereum or other altcoins.

    In short, our top pick for the best crypto exchange for Australian traders is Swyftx ($20 BTC sign-up bonus). Out of all exchanges we have assessed, it undoubtedly has the best user interface and mobile app to buy and sell the wide selection of 320+ cryptos with AUD.

    Swyftx Pros:
    • $20 Welcome bonus and rapid ID verification
    • Deposit AUD using a bank transfer, PayID, POLi and credit/debit card
    • Competitive 0.6% trading fees and small spreads
    • Supports earning interest on crypto and investing with Super Funds
    • Excellent trading experience and mobile app
    Swyftx Cons:
    • Can take a while for users to get used to
    • Does not offer margin, derivatives or Futures markets
    • Crypto trading platform and fees are not ideal for professional traders

    2. CoinSpot - Best Australian Crypto Exchange For Security

    Why we picked it: CoinSpot is a long-established and reputable cryptocurrency exchange that has served millions of Australians since 2013. It is a popular exchange for its ease of use, features the latest coins; and has bank-like security mechanisms. Individuals looking for the safest crypto exchange in Australia to buy, trade and sell Bitcoin and over 350 cryptocurrencies can't go wrong with CoinSpot.

    Coinspot is a well-respected cryptocurrency exchange that is easy to use. CoinSpot exchange has reached more than 2.5 million users. Moreover, it has a 4.5/5 star Trustpilot rating based on 1807 customer reviews which is a testament to providing a great platform with excellent customer service. CoinSpot is highly regulated by Australia's highly governed financial sector to ensure proper conduct and operations with investors' money that is a rubber stamp for trustworthiness.

    CoinSpot has built up a solid reputation as a leading Australian cryptocurrency exchange that is focused on helping newcomers to buy a wide range of altcoins with AUD. It is one of the biggest crypto exchanges in Australia in terms of registered accounts which demonstrates its high rating as a crypto platform in the community.

    One of the most compelling features of CoinSpot is the support for several payment methods that will cater to a broad range of Australians. They will be able to deposit AUD using POLI, PayID, BPAY or even a cash deposit. In addition, payment methods via an Australian bank will not incur a charge. The exception is using BPAY or cash payments that have a deposit fee of 0.9% and 2.5% respectively which is very expensive.

    coinspot websitecoinspot website

    Another reason we picked Coinspot is the approach to simplifying investing in crypto with its 'bundles' option. This allows investors to buy a group of assets in one transaction such as the Top 3, Top 10, Privacy coins, etc. The benefit is that multiple coins can be purchased with a one-off fee.

    As for the trading fees, CoinSpot isn't the cheapest Australian exchange. There is a 1% fee when using the instant buy and sell feature. This is more expensive compared to Swyftx (0.6%), however, there is the option to pay 0.1% per trade using the CoinSpot exchange. Although, the exchange lacks liquidity and is difficult to use. 

    Security-conscious investors will have peace of mind that Coinspot Australia has never been hacked and is the first Australian trading platform to receive the internationally recognized ISO 27001 certification for information security. Like most modern-day crypto exchanges, CoinSpot has two-factor authentication (2FA). Due to its bank-like safety measures, CoinSpot is regarded as one of the best crypto wallets in Australia to buy, store and sell crypto.

    Overall, based on our assessment and comparison to other crypto exchanges in the country, Coinspot is one of the best crypto exchanges due to its high reputation and trustworthiness in the industry. Although, the high trading fees should be avoided if possible, or consider using a Coinspot alternative in this list.

    Coinspot Pros:
    • Easy to use and highly suitable for beginners
    • Variety of AUD deposit options with zero fees
    • Largest selections of assets in Australia
    • Support for SMSF investors and OTC
    Coinspot Cons:
    • 1% fee for instant Buy/Sell, advanced orders and recurring orders is expensive
    • Lack of features and functionality on CoinSpot Exchange
    • Poor liquidity on CoinSpot Exchange

    3. Digital Surge - Best Aussie Crypto Exchange For Low Fees

    Why we picked it: Digital Surge is a fast-growing crypto exchange that is focused on simplicity, low trading fees and instant AUD deposits and withdrawals. The well-designed website and mobile app offers allow investors to create an account, complete verification and trade over 300 coins seamlessly in a matter of minutes. For beginners that are looking to buy crypto quickly with low fees, Digital Surge exchange is a great option.

    Digital Surge is a Brisbane-based digital currency exchange that provides a fast and easy way to buy and sell digital currency using AUD. The platform has focused on providing a beginner-friendly exchange website for everyday Australians to invest in the crypto market. Digital Surge is focused on simplicity which starts from the verification process which is automated. That means users can buy, trade and sell digital currencies including popular meme coins such as Dogecoin and Shiba Inu.

    Some of the unique features of Digital Surge we observed include:

    • Portfolio viewer to show the overall investment performance
    • Check favorite coins within a personal Watchlist to quickly
    • See which coins are performing the best (and worst) with a Top Gainers list
    • Trading sentiment indicator of buyers and sellers on the platform
    • Pay bills with cryptocurrency
    Screenshot of the Digital Surge user interfaceScreenshot of the Digital Surge user interface

    Digital Surge is a top choice in this list due to its low trading fee of 0.5% and spreads from 0.4% per transaction. The fees are very competitive when compared to other platforms such as Swyftx (0.6%) which uses a similar fee structure. Moreover, there are no AUD fees to deposit and withdraw AUD to a local bank which are processed near-immediately in our experience which is a major benefit.

    In our opinion, Digital Surge is one of the best crypto exchanges in Australia for beginners to get started and invest in cryptocurrency. This is primarily due to its ease of use, rapid AUD deposit and withdrawals, responsive customer support and minimal fees.

    Digital Surge Pros:
    • Modern and intuitive design that will appeals to investors of all experience levels
    • Instant AUD deposits and withdrawals direct to a bank account
    • One of the lowest fee exchanges in Australia with small spreads
    • Highly responsive customer support team
    Digital Surge Cons:
    • No credit/debit card support to deposit AUD
    • Does not offer cryptocurrency staking services

    4. Binance - Best Australian Crypto Exchange For Altcoins

    Why we picked it: Binance is the largest cryptocurrency exchange in the world and is trusted by millions of users globally. Binance accepts direct AUD deposits with zero fees and has a low trading fee of just 0.1%. With more than 600 coins to choose from and a wide range of products, Binance is a premium exchange that is ideal for Australian crypto traders. Moreover, new users can get up to $50 for free using our referral code for Binance.

    Binance Australia allows investors to instantly deposit and withdrawal using AUD via PayID/Osko (NPP payments), which is supported by over 100 Australian banks and financial institutions. Binance exchange is one of the cheapest platforms to buy, sell and trade with fees between 0% and 0.1%. Due to the low trading fees and deep liquidity across all of their trading pairs, Binance is one of the best options for cryptocurrency altcoin traders. Moreover what separates Binance from the rest of the exchanges in this list is the zero crypto trading fees across 13 stablecoins and fiat combinations.

    The exchange has one of the largest offerings of cryptos with more than 600 coins. Each crypto can be bought, traded and sold against Bitcoin, altcoins, fiat currency or stablecoins such as Binance USD (BUSD), Coinbase USD Coin (USDC), PAXOS (PAX), Tether (USDT) and True USD giving investors maximum flexibility to manage their portfolios. In addition to its massive list of crypto, Binance is one of the best exchanges for features with an expansive list of products that can be accessed through the website or mobile app. Some of these include:

    • Peer-to-peer (P2) platform that supports multiple payment methods
    • Convert to quickly swap crypto-to-crypto
    • OTC desk for large orders
    • Binance futures for crypto derivatives trading
    • NFT marketplace to buy digital art
    Binance Australia websiteBinance Australia website

    Another feature available to Australians is Binance Earn which includes one of the best crypto staking platforms to earn staking rewards on Proof-of-Stake coins such as Ethereum 2.0, Cardano, Solana and even Dogecoin. Moreover, for those that are not interested in trading can deposit their crypto into a savings account to accrue interest.

    Overall, Binance makes our list of top exchanges in Australia due to its range of financial and crypto services, zero-fee AUD deposits and withdrawals, and the lowest fees that offer superb value-for-money. Moreover, those looking for a superb altcoin exchange should not go past Binance with the biggest selection of coins in Australia.

    Binance Pros:
    • #1 exchange in the world for trading volume and liquidity
    • Competitive 0.1% trading fee, volume and staking discounts and low slippage
    • Advanced charting and trading platform on desktop and mobile devices
    • All-in-one platform with a broad range of products and services
    Binance Cons:
    • Difficult to navigate for first-time investors and traders
    • Complicated to use for individuals that just want to buy and hold crypto
    • Limited options for AUD deposits and withdrawals

    5. FTX - Top Crypto Exchange For Margin Trading

    Why we picked it: FTX is a world-class crypto exchange that has established an office in Australia to bring its advanced trading platform down under. With one of the biggest selections of margin trading products, staking to earn rewards, 325 coins to buy with AUD and competitive fees, FTX is a top-shelf exchange for Australians looking to trade crypto inverse perpetual contracts.

    FTX is a cutting-edge platform to trade cryptocurrency that is best suited for experienced investors and day traders in Australia. Owned by Sam Bankman-Fried, the CEO and co-founder of Alameda Research, FTX is a popular exchange to trade cryptocurrency with leverage. Combined with its seamless mobile app, FTX offers several advantages and benefits for serious traders that we will outline in this section.

    FTX Australia is a unique platform that includes a wide variety of markets compared to other platforms in the local industry. While there is the ability to buy 325 popular coins with AUD using a wire transfer, FTX is best-suited for existing crypto holders. There is the option to manage a crypto portfolio by shorting with leverage on the:

    • Futures market. Trade futures on BTC, ETH, EOS, XRP, and USDT. Each coin has three futures contracts: a contract that expires in the current quarter, a contract that expires next quarter and a perpetual future.
    • Leveraged tokens. Tokens that can be bought and sold with up to 3X leverage and without any margin requirements.
    • Volatility index. Futures contracts represent the absolute value of the amount the price of a coin moves over a day, week, month or quarter.
    • Options. Contracts that give the holder the right but not the obligation to buy or sell at a future strike price. This market gives day traders the ability to hedge their open positions against price volatility.
    Selection of markets to trade on FTX AustraliaSelection of markets to trade on FTX AustraliaSelection of markets to trade on FTX Australia.

    The ability to trade crypto with margin using a variety of products makes FTX stand out from the other Bitcoin exchanges in this list. The fees start from 0.02% to 0.07% for makers and takers on its futures and spot markets. The derivatives trading fees can be further reduced with higher trading volumes over a 30-day period. Moreover, holding the platform's native FTT token can provide an additional fee discount of up to 30%.

    FTX Pros:
    • Reputable, secure and stable platform for spot and leverage trading
    • High trading volume and liquidity will suit high net worth individuals
    • Wide range of supported markets and assets to trade
    • Reliable and fast trading engine with TradingView charts
    FTX Cons:
    • Not suitable for beginners
    • Limited AUD deposit options
    • Customers support can take a few days to respond

    6. CoinJar - Best Crypto Exchange Australia For Ease of Use

    Why we picked it: CoinJar is another long-running Australian cryptocurrency exchange that has served thousands of customers. Users on the platform can benefit from a variety of ways to deposit money including PayID, BPAY and even cash deposit to get started from as little as $10. The instant buy/sell fees are a little high, however, CoinJar has an innovative crypto debit card and secure wallet.

    CoinJar has served more than 400,000 customers and over $1.5+ Billion traded in digital currencies since its inception in the Australian crypto market. The exchange is highly regarded as one of the best Bitcoin exchanges for beginners and experienced investors. The exchange is best known for its simple and easy-to-use products and innovations such as a crypto debit card, crypto EFTPOS card and crypto wallet application for mobile devices.

    The website offers a CoinJar digital currency platform to instant purchase or sell Bitcoin back to AUD. There is a flat 1% fee to buy crypto or between digital currencies and charges a premium for convivence. To obtain a lower trading fee, users can use the CoinJar Exchange with fees of 0.1% using a maker/taker model. This is quite confusing for investors to create an account with two products that have varying fees. 

    coinjar australia websitecoinjar australia website

    CoinJar Exchange is a separate website that can be used to trade cryptocurrency using its own order book. CoinJar Exchange is suited for traders that understand how to read live crypto charts. The interface is sleek, minimal and clean which is easy on the eye. The only downside is the charting is basic and doesn't include technical indicators, drawing tools and a variety of order types. Moreover, the trade volume on the exchange is very low.

    In terms of security, CoinJar offers a high level of fund protection with 90% of customers' assets stored in offline cold wallets located at secure locations for maximum safety. The exchange protects its client's information using a layer of security that include data encryption, Transport Layer Security (TLS), periodic security audits and best practice organisational security.

    Overall, CoinJar is a regulated exchange to buy and sell cryptocurrency. There are some improvements that could be made such as modernizing the trading terminal, increasing the number of supported coins and implementing advanced trading cryptocurrency tools on the Exchange. In addition, the 1% trading fee for instant buy/sell orders is quite high and are cheaper alternatives to use.

    CoinJar Pros:
    • Long-established and trusted exchange since 2013
    • Good selection of the most popular digital currencies
    • Offers a crypto debit card to spend crypto at merchants
    • Easy to use mobile app to monitor a portfolio
    CoinJar Cons:
    • Instant buy and sell trading fees are too high
    • CoinJar Exchange lacks trading volume and liquidity
    • Does not offer recurring orders or staking features

    7. Independent Reserve - Best Crypto Exchange For SMSF

    Why we picked it: Independent Reserve is a well-respected and trusted exchange in Australia for investing in crypto. The exchange lists the most popular cryptocurrencies, supports SMSF investors, and features tiered trading fees that start from a low 0.5% per trade and reduce with volume. Overall, Independent Reserve is a reliable exchange for serious crypto investors.

    Independent Reserve was founded in 2013 in Sydney, Australia and is used by over 250,000 customers. The exchange has expanded to other regions around the world such as Singapore and New Zealand with support for AUD, USD, SGD and NZD. Independent Reserve exchange is a trusted crypto exchange that is geared towards high-net-worth individuals and Super Fund investors.

    Customers can deposit funds to Independent Reserve Australia via bank transfer, POLi, PayID and SWIFT which makes it very accessible to fund an account. The exchange offers 24 assets that can be bought, sold or stored within their crypto wallet which is quite limited and there are deposit and withdrawal AUD fees that should be considered.

    independent reserve websiteindependent reserve website

    Independent Reserve's fee starts at 0.5% per transaction and can be reduced to 0.02% based on the past 30 day's trading volume. The crypto trading fees are suited to high-volume traders, high-net-worth individuals and SMSF investors with large sums of money to invest to obtain a lower crypto trading fee. For new investors and beginners, the 0.02% trading fee is probably not within reach. However, the starting fee of 0.5% is still competitive in the industry.

    Independent Reserve Exchange has never been hacked or compromised. Customer funds are stored in offline wallets to minimize the risk of theft and accounts have a number of security measures to prevent fraudulent access.

    Independent Reserve Pros:
    • Trusted exchange by over 200,000 investors and 80,000 SMSF Accounts
    • Competitive 0.5% trading fee that reduces with higher volume
    • Reliable and straight forward user interface to instant buy/sell
    • Exceptional 24/7 live support and tax tools
    Independent Reserve Cons:
    • Advanced exchange with charting is a little outdated
    • No mobile trading app to place orders or monitor portfolio
    • Supported coins is limited compared to other exchanges in Australia

    8. Coinbase Australia - Good Exchange For Debit Cards

    Why we picked it: Coinbase is overall a top exchange in the world for buying, trading and storing crypto. It makes our list of best exchanges due to its ease of use for beginners. It is one of the few platforms in Australia that provides support AUD deposits using a debit card which is a fast and secure payment method. The only downside is the expensive debit card fees of 3.99%.

    Coinbase is a popular crypto exchange that is available in over 100 countries including Australia. Founded in June of 2012, Coinbase is a secure crypto wallet and cryptocurrency trading platform where merchants and consumers can transact with 46 popular coins like Bitcoin, Ethereum, and Litecoin. Coinbase is headquartered in San Francisco, California is one of the best crypto exchanges with over 35 million verified users, is supported worldwide and has seen 320 Billion in total volume traded. Coinbase is also well-known for being a safe crypto exchange with no reported hacks or compromises of the security systems and wallets since its inception.

    The exchange has revolutionized the digital currency environment by providing a simple platform for beginners to buy and sell digital coins such as Bitcoin and Ethereum. As a result of its basic interface, it is an exchange utilized by many investors that are looking to build their first cryptocurrency portfolio. The beginner-friendly ethos has been transferred across to its native mobile application.

    coinbase websitecoinbase website

    The sign-up, verification and link to payment process take only a few minutes to complete. Customers can then use a highly intuitive and elegant user interface on online or mobile devices. In fact, Coinbase is highly regarded as having one of the best apps for crypto due to its ease of use and reliability.

    The deposit fee on Coinbase for using a debit card is 3.99% which is a high cost of entry for new investors that wants to buy crypto with AUD. Intermediate users and traders can use the Coinbase Pro trading platform has high liquidity and is equipped with advanced crypto charting features and risk management tools that will benefit professional and experienced traders. The fees are competitive at 0.5% per trade. However, there is no option for a bank transfer which is problematic for selling Bitcoin into AUD and withdrawing the funds.

    Coinbase is one of the safest places to buy and store digital assets that features industry-leading security measures to ensure customer funds and personal information are kept safe at all times. Examples include 98% cold storage of all customer funds, safe deposit boxes and vaults around the world, 2 Factor Authentication, secure wallets and secured Bitcoin private keys using AES-256 encryption. Overall, Coinbase offers a safe exchange to buy crypto in Australia using a debit card but has high fees.

    Coinbase Pros:
    • Platform and mobile app are very easy to use for beginners
    • Educational section with excellent resources for Aussie investors
    • Industry-leading security measures to keep funds safe
    • Accepts AUD debit card payments
    Coinbase Cons:
    • Trading fees are higher compared to other exchanges in Australia
    • Fees are quite complicated to understand
    • Cannot withdraw AUD to an Australian bank account
    • Customer service wait times are excessive

    9. Kraken Australia - Best Australian Exchange For Advanced Crypto Traders

    Why we picked it: Kraken is a world-class exchange that features an advanced trading platform with competitive trading fees. Australians are able to deposit funds in AUD directly to the exchange to access its wide range of innovative features and products. Kraken is not designed for the beginner and does require some trading expertise.

    Kraken is a Bitcoin and cryptocurrency exchange that was founded in 2011. The platform has expanded to Australia with a local office based in Sydney for customers to fund an account with Australian Dollars. Kraken is a top 10 platform based on traffic, liquidity and spot volume with more than 70 crypto pairs to buy, trade and sell with new assets added frequently. Australian clients can also trade crypto using their SMSF. 

    Kraken is one of the best crypto trading platforms that offer an intuitive trading platform to execute crypto trading strategies. The company is based in San Francisco after being founded in 2011 by Jesse Powell and officially launched in 2013. The exchange offers its products and services to individuals around the globe with support for several countries and fiat currencies that can be swapped into different cryptocurrencies such as Bitcoin and Ethereum.

    kraken australiakraken australia

    Since the exchange's inception in the Australian crypto market, Kraken has become a popular option due to instant deposits using Okso and PayID using supported Australian bank accounts. Kraken offers a powerful trading platform for advanced users which includes trading tools and automated portfolio monitoring. This makes Kraken a great option for Aussie traders to visualize their overall crypto portfolio performance, track and manage all digital assets in a single location.

    Kraken Pro uses a taker and maker system with trading fees of 0.16% and 0.26% respectively. There are trading-based volume incentives on activity in the past 30 days for all cryptocurrency pairs. Traders are incentivized to engage with the market with lower trading fees to provide liquidity to the exchange by filling the order book by placing conditional and limit orders (i.e. maker fees). 

    kraken australia feeskraken australia fees

    Unlike the other Australian cryptocurrency exchanges, Kraken has a leveraged and margin trading platform to trade crypto using margin. The fees are between 0.01% and 0.02% in addition to the trading fee for each transaction. Overall, Kraken exchange is a suitable option for Australians that want to speculate on cryptocurrencies against other coins on the spot or margin platforms.

    Kraken Pros:
    • Licenced Australian crypto exchange with AUSTRAC
    • Wide selection of cryptocurrencies that can be bought, traded and sold on the exchange
    • Competitive fees from 0.16% and 0.26% with fee discounts
    • Offers margin trading, staking and a secure wallet
    Kraken Cons:
    • User-interface is dated and not beginner-friendly
    • Supported crypto assets and markets is limited compared to other global platforms
    • No demo trading account
    • Limited number of currencies that can be staked

    10. eToro - Great Platform For Copy-Trading Crypto

    Why we picked it: eToro makes our list of the top crypto platforms due to its demo mode, copy-trading and social community. While Australians can't purchase actual crypto assets on the platform, eToro is beneficial to beginners that want to begin trading CFDs, discover successful traders and view their positions in real time.

    Disclaimer: AFSL 491139. Leveraged positions are OTC Derivatives, regulated financial product. Capital at risk. See PDS. Non-leveraged positions are real crypto assets and not regulated. No consumer protection. Capital at risk.

    eToro is suited for beginners that want to speculate on the prices of cryptocurrencies and traditional trading instruments using a powerful and user-friendly trading platform. The platform provides a simple platform to speculate on Bitcoin and crypto CFDs in Australia, or practice crypto trading using a virtual portfolio.

    eToro is a leading social trading platform that offers cryptocurrency, stocks, CFD trading and a social community to copy-trade successful investors. The platform was established in 2007 and has grown into a popular online trading provider that is highly visual, intuitive and beginner-friendly. The broker is used by millions of investors and traders across multiple jurisdictions in the world.

    etoro australia websiteetoro australia website

    eToro is a regulated CFD provider that complies with local laws that are enforced by the Australia Securities and Investment Commission (ASIC). eToro trades under the company eToro AUS Capital Pty Ltd, AFSL 491139 and holds an Australian Financial Services License (AFSL). The platform does not have a licence to sell actual cryptocurrency assets in Australia, however, users can speculate on the crypto CFDs.

    eToro does not charge a fixed trading fee for cryptocurrency assets. The platform works on a spread cost of 0.75% depending on the crypto trading pair. The spread cost is deducted from the trade at the opening of the position. For example, the cost to trade the Bitcoin/AUD pair will incur a spread cost of 0.75%. The lesser-known altcoins will have a higher spread charge as the trading volume is lower.

    etoro copytraderetoro copytraderDisclaimer: Past performance is not an indication of future results.

    One of the most popular features on eToro is the social network to discover other traders to copy and follow their trades. It is a powerful community used by millions of investors around the world to see how professional and successful trade manage their positions in real-time.

    It is possible to follow an investor to automatically copy their trades using the available trading account balance. Beginners can benefit from copy-trading by following the most profitable traders on the platform to earn a passive income that can be used to purchase crypto or simply learn how to trade.

    eToro Pros:
    • Trusted and well-established brokerage for buying and selling crypto
    • Social trading community to copy-trade profitable users
    • Competitive trading spreads for Bitcoin and Ethereum
    • Earn staking rewards on crypto assets held on the platform
    eToro Cons:
    • Limited number of cryptocurrency assets
    • Base currency is denominated in USD only
    • Lack of advanced trading tools and markets for serious crypto traders
    • Spread fees are quite high for less popular crypto assets

    Why we picked it: Cointree is a simple and safe exchange for residents in Australia to buy, trade and sell digital currencies. Some of the best features about Cointree include its simple and elegant user interface, competitive trading fees between 0.5% and 0.9%, OTC desk and support for Australian Super Fund investors.

    Cointree is a top crypto exchange for Australians that has been around for many years. The easy-to-use interface provides a fast and safe way for individuals that would like to buy Bitcoin and other digital currencies. The exchange allows its customers to deposit and convert them into a wide range of digital assets such as Bitcoin, Ethereum, Cardano, XRP with ease.

    The Australian crypto exchange is well known and is widely regarded as a top crypto exchange in Australia that has a simple and easy-to-use interface for buying and selling digital currencies with fiat money. With over 160 digital assets to buy, trade and sell using competitive fees, Cointree is a great choice in Australia. Other notable features and benefits of Cointree are:

    • An intuitive trading platform for beginners and intermediate traders
    • Instant and easy trading of over 160+ cryptocurrencies
    • Real-time market data and charting to trade popular altcoins
    • OTC desk for high net worth individuals
    • Support for SMSF investors to invest in digital currency
    • A secure wallet that stores a portion of funds in offline cold wallets to protect user's funds
    • Learning Hub with educational guides to help people get started
    cointree websitecointree website

    Cointree uses tiered fees between 0.5% and 0.9% depending on the volume traded. The trading costs are reasonable for beginners that are looking to make their first crypto purchase. However, the spread is high which is a hidden charge that new traders will not be aware of. At the time of writing, there was a $670 premium on the price of Bitcoin. This means a person that purchased 1 BTC and immediately sold it made a significant loss even if the price of Bitcoin remained the same.

    The spreads are a major drawback with using Cointree as these hidden costs will accumulate over time. It is important to check the fee and spread when looking for a cryptocurrency exchange.

    Cointree Pros:
    • Beginner-friendly user interface for newer investors
    • Reasonable selection of coins to choose from
    • Fees are competitive in the Australian market
    • Support for SMSF investors
    Cointree Cons:
    • Not suitable for experienced or professional traders
    • Not the cheapest exchange in Australia for high net worth investors

    Top Crypto Exchanges In Australia - Compared

    This comparison guide provides an overview of the best Australian crypto exchanges according to our rating system. For further information on each exchange, read the full review or visit the website.

    ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview
    Swyftx

    Swyftx

    320+0.6%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.8/5
    StarStarStarStarEmpty Star
    $20 Bitcoin for creating a verified accountVisit SwyftxSwyftx Review
    Digital Surge Logo

    Digital Surge

    300+0.5%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.7/5
    StarStarStarStarEmpty Star
    $10 Bitcoin for creating a verified accountVisit Digital SurgeDigital Surge Review
    CoinSpot Logo

    CoinSpot

    350+1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.7/5
    StarStarStarStarEmpty Star
    None available at this timeVisit CoinSpotCoinSpot Review
    binance australia

    Binance Australia

    600+0.1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.4/5
    StarStarStarStarEmpty Star
    Up to $50 welcome bonusVisit Binance Au...Binance Australia Review
    FTX AustraliaFTX Australia

    FTX Australia

    3250.02% / 0.07%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.4/5
    StarStarStarStarEmpty Star
    5% off trading feesVisit FTX AustraliaFTX Australia Review
    CoinjarCoinjar

    Coinjar

    491%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.3/5
    StarStarStarStarEmpty Star
    None available at this timeVisit CoinjarCoinjar Review
    etoro australia

    eToro Australia

    70+1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.3/5
    StarStarStarStarEmpty Star
    None available at this timeVisit eToro Aust...

    AFSL 491139. Capital at risk. See PDS and TMD.

    eToro Australia Review
    independent reserve

    Independent Reserve

    260.5%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.2/5
    StarStarStarStarEmpty Star
    $10 BTC for creating a verified accountVisit Independen...Independent Reserve Review
    coinbase australia

    Coinbase Australia

    250+0.5% + 3.99%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.2/5
    StarStarStarStarEmpty Star
    None available at this timeVisit Coinbase A...Coinbase Australia Review
    kraken australia

    Kraken Australia

    1950.16% / 0.26%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.1/5
    StarStarStarStarEmpty Star
    None available at this timeVisit Kraken Aus...Kraken Australia Review
    cointreecointree

    CoinTree

    1600.5% - 0.9%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.1/5
    StarStarStarStarEmpty Star
    $10 bonus after first tradeVisit CoinTreeCoinTree Review

    How To Choose The Best Cryptocurrency Exchange

    Selecting a cryptocurrency exchange can be a difficult task that depends on various factors such as your financial objectives, level of expertise and knowledge and the amount of funds to invest. There are several types of cryptocurrency exchanges that offer different products and services. It is important to first understand the goal of using a crypto exchange to pick the right type of exchange. The different types of crypto exchanges are:

    • Fiat-to-crypto trading (e.g. convert AUD to Bitcoin)
    • Crypto-to-crypto trading (e.g. trade Bitcoin to Ethereum)
    • Combination of the above
    • Peer-to-peer crypto exchanges
    • Decentralized crypto exchanges

    The best choice for beginners investing in cryptocurrency for the first time is a fiat-to-crypto service or crypto broker such as Swyftx. These crypto exchanges accept AUD using widely available payment methods.

    Compliance With Local Laws & Regulations

    It is important to use a crypto exchange that is an ASIC-licenced business and registered with AUSTRAC. This financial body governs the digital industry in Australia and has established a set of rules and regulations that crypto exchanges must abide by. These Australian exchanges provide a level of assurance and safety measures to protect their customers.

    Compliant crypto exchanges will ask for personnel information such as full name, email address and phone number. This is a good indication the exchange is complying with local KYC/AML regulations to minimize the risk of financing terrorism-related activities and crime.

    Ease of Use

    When finding a suitable crypto exchange in Australia, the ease of use is a vital consideration for newer investors that have little to no experience. Trading crypto online can involve complex charts, various order types, technical indicators and transferring crypto to new technology. Beginners should look for an exchange with a modern and simplistic user interface that streamlines the account creation, depositing funds and purchasing crypto process.

    Supports Australian Dollars (AUD)

    Make sure the chosen crypto exchange provides an onramp for Australian Dollars or another preferred currency. Global exchanges will often use third-party providers such as Simplex as payment processors which will accept credit cards and debit card payments in multiple fiat currencies (e.g. USD, GBP, EUR and NZD). However, the payment fees are much higher than a local exchange.

    Deposit & Withdrawal Methods

    Find an Australian cryptocurrency exchange that offers preferred deposit options such as bank transfers, PayID, POLi, BPAY, debit card or credit card. These are the most common payment methods to look for which has low fees and fast processing times. Each crypto exchange has varying minimum and maximum daily limits per 24 hours. Equally as important is whether the exchange allows withdraws in AUD to a bank and the associated limits and fees. For example, Coinbase does not support AUD withdrawals.

    Supported Cryptocurrencies

    There are thousands of different cryptocurrency projects and coins to buy and sell. Not all Australian exchanges list each coin for buying or selling. If there is a particular digital currency that you want to buy, check the exchange website to confirm the coin is listed and an AUD trading pair is available (e.g. BTC/AUD).

    Exchange & Wallet Security

    Using a secure exchange is a critical consideration. Industry-standard security features include cold wallet storage, multi-signature withdrawal process and two-factor authentication. Well-established Australian crypto exchanges should employ various security measures to protect customer's personal information to prevent the theft of funds and fraudulent activity. Check the exchange's security page to confirm these measures are in place. 

    Trading Fees

    There are various fees to be aware of when using a crypto exchange. These can include AUD deposit fees, withdrawal fees and trading fees between assets. There is also a spread fee and sometimes a foreign exchange conversion fee which is often a 'hidden cost' and not fully disclosed. Check the fees page on the exchange website to become familiar with all charges.

    Customer Support

    Explore the website to find out what communication methods are available to support users that need troubleshooting advice or assistance on the exchange. Most Australian crypto exchanges will provide a Frequently Asked Questions (FAQ's) section and How-To-Guides which is useful for beginners. Otherwise, make sure the website has a ticket system to contact the customer support team directly or a live chatbot.

    Online Reviews & Social Media

    Search for online exchange reviews, forum comments and posts on social media is a great way to see what experience other crypto investors and traders have had with the platform. Review websites generally aim to provide a quick, easy-to-read summary of the exchange before creating an account.

    Where To Store Cryptocurrency In Australia

    After purchasing crypto, a crypto wallet is required to store the coins. There are several options for storing cryptocurrencies that have been purchased on an Australian exchange, which include:

    1. Leave the Bitcoin on the exchange. The vast majority of exchanges feature leading-edge security measures that minimize the risk of hackers and fraudulent access. However, there have been incidents of breaches that have resulted in a loss of funds. Current regulations in Australia mean that exchanges are not covered by insurance or consumer protection.
    2. Transfer to a software or mobile wallet. Often referred to as 'hot wallets, these wallets store Bitcoin on portable devices such as mobile phones, computers and apps. These types of wallets are easy-to-use and suitable for all types of investors. The downside is they still pose a risk to hackers as the wallets are still connected to the Internet.
    3. Transfer to a hardware wallet. The best way to store purchased crypto is using a hardware wallet which are small compact devices that secure the private key that gives access to the wallet.

    Frequently Asked Questions

    In our opinion, we believe the best crypto exchange in Australia is Swyftx. This is based on important user factors such as beginner-friendliness, supported cryptocurrencies, deposit methods, competitive fees, overall trading experience and excellent customer support.

    The cheapest crypto exchange for Australians is undoubtedly Binance. The default trading fees start from 0.1% per trade and can be reduced by staking Binance Coin (BNB) tokens or higher trading volumes. Moreover, Binance has removed the trading fees on several Bitcoin pairs resulting in zero-fee crypto trading.

    Cryptocurrency is taxed like any other traditional asset such as real estate and precious metals. When a crypto asset is sold, there will likely to tax to pay on the difference between the selling price and the price it was bought for (excluding exchange fees and commissions etc).

    Any gains as a result of buying and selling cryptocurrencies will be taxed under the capital gains tax (CGT) rules for individuals. For more information, read our guide on Cryptocurrency tax in Australia and consult a financial advisor.

    How We Picked These Exchanges

    The methodology used to find the best crypto exchanges in Australia comprises a comprehensive review process. This includes creating a verified account, depositing funds, placing trades and withdrawing funds with each provider to gain a complete understanding of the overall user experience.

    We then evaluate, score and rate each Australian exchange based on our specific in-house assessment criteria and assign an overall star rating out of 5 points. For more information on the categories examined when comparing the top cryptocurrency exchanges, read our exchange review methodology process.

    Kevin GrovesKevin GrovesKevin Groves

    Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

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