There are many Australian crypto exchanges to use for buying digital assets which can be a difficult task for beginners to find an exchange that's the right fit. We have reviewed over 100 crypto platforms to find the best cryptocurrency exchanges in Australia. Our methodology included creating an account, depositing funds and buying crypto to experience the full features on each Australian crypto exchange.
In short, our top pick for the best crypto exchange for Australian's is Swyftx ($20 BTC sign-up bonus) based on important factors such as ease of use, deposit methods, fees, overall trading experience, mobile app security and customer support.
Based on our reviews, these are the top cryptocurrency exchanges for Australia:
- Swyftx (best Australian exchange overall)
- Digital Surge (best for low fees)
- Coinspot (best exchange for security)
- Binance (great for trading altcoins)
- CoinJar (best for ease of use)
- Independent Reserve (best for SMSF)
- Coinbase (best for debit card purchases)
- Kraken (suitable for advanced for traders)
- Gemini (best for mobile wallet)
- eToro (suitable platform for copy-trading)
- Cointree (popular local exchange)
This comparison guide provides an overview of the best Australian exchanges according to our rating system. For further information on each exchange, read the full review or visit the website.
Swyftx is an AUSTRAC registered Australian cryptocurrency trading platform with over 350,000 users that provides a simple and transparent way for individuals to invest in more than 280 cryptocurrencies.
The platform offers excellent features that will suit various types of investors such as rapid AUD deposits and withdrawals, portfolio tracking, recurring orders, low trading fees, demo mode and price alerts. In short, Swyftx is our best rated cryptocurrency exchange in Australia to buy, trade and sell crypto back to AUD.
Swyftx is offering a $20 Bitcoin bonus for individuals that create an account and complete the ID verification process. The promotion is available for users that sign-up using our link. The account registration page will be branded with our colours to confirm the promotion code has been successfully applied.
Our top rated exchange is a safe platform to purchase Bitcoin or another crypto asset quickly using AUD or USD. There is a wide variety of methods to transfer funds to an 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 account. There are zero fees to deposit and withdraw AUD to a bank account. Swyftx have also recently introduced support for debit and credit cards to buy crypto.
The feature-rich platform will suit beginners with its user-friendly a mobile app, tax calculator and dollar cost averaging tools. The desktop and mobile application has been designed for all investors to get started with digital currencies.
The trading experience is modern, fresh and fully customisable that can be tailored to suit each investor to monitor their portfolio and place traders. There is also the ability to toggle dark-mode on the desktop and mobile application plus a demo account to trade risk free.
Furthermore, Swyftx boasts some of the most competitive trading fees in the country. The transaction cost to buy and sell crypto is a nominal 0.6% fee in addition to a spread charge that averages 1.7%. Compared to the industry average spreads of 4%, the overall trading fees are reasonable when Swyftx is measured against other exchanges.
Swyftx works slightly different to an exchange and operates like a broker to find the best crypto prices in AUD and USD by searching the best cryptocurrency trading platforms. The broker is partnered with global exchanges with high trading volumes to provide deep liquidity across all trading pairs (e.g. altcoins). This allows Swyftx to provide low spreads (i.e. the difference between the bid and ask price) fees for customers in Australia.
In summary, Swyftx is a top exchange in Australia with its beginner-friendly user interface coupled with competitive trading fees, high security standards, an abundance of features and excellent customer service.
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 get started with crypto assets.
The team are committed to building trust and transparency within the cryptocurrency community and to bring awareness to the industry for all investors alike. The Australian cryptocurrency exchange is focused on simplicity which starts from the verification process which is automated. That means, users can buy digital currency quickly and easily using a buy wizard that guides through each step.
The exchange features a portfolio viewer to show the overall investment performance. Customers can monitor their favourite coins within a personal Watchlist to quickly see which coins are performing the best (and worst) with the Top Gainers list. An easy click through on any of them will transfer to a full detail page of each asset. The exchange also allows individuals to pay bills using crypto.
Digital Surge's trading fee is 0.5% which is competitive to to other platforms with spreads as low as 0.4% per transaction. This is comparable to brokers such as Swyftx which uses a similar fee structure. There are no fees to deposit and withdraw Australian Dollars directly with a local bank which are processed near-immediately. In our opinion, Digital Surge is one of the best options in Australia for beginners to get started with cryptocurrency due to its ease of use, rapid AUD deposit and withdrawals, responsive customer support and minimal fees.
Coinspot is a well-respected cryptocurrency exchange that is easy to use and allows users to buy cryptocurrencies in Australia. Since been founded in 2013, CoinSpot exchange has reached more than 2 million users which is a testament to providing a great platform with excellent customer service. The exchange is highly regulated by Australia's highly governed financial sector to ensure proper conduct and operations with investors money.
CoinSpot has built up a solid reputation as a leading Australian cryptocurrency exchange that is focused on helping newcomers to buy Bitcoin and a wide range of cryptocurrency coins with AUD. The Australian exchange is regarded as one of the most safest platforms with bank-like security measures to protect its customer's information and funds secure.
Coinspot supports several payment methods for users to deposit funds such as POLI, PayID, BPAY or a cash deposit. Each payment method using an Australian bank account deposit does not incur a deposit charge. In comparison, using BPAY or cash payments will incur a deposit fee of 0.9% and 2.5% respectively.
Coinspot simplifies cryptocurrency investing with their 'bundles' option. This allows investors to buy a group of assets in one transaction. Each asset allocation is grouped in categories (e.g. Top 3, Top 10, Privacy coins etc) and incurs a one-off trading fee for all coins within the bundle.
The trading fees depend on the method used to purchase cryptocurrencies. The Instant Buy and Sell platform has a 1% trading fee to quickly exchange coins. To obtain a lower transaction fee of 0.1%, users can trade on the exchange which requires a greater level of understanding on technical charts and types of orders.
Coinspot Australia has never been hacked and is the first Australian trading platforms to receive the internationally recognized ISO 27001 certification for information security. Funds stored in a Coinspot wallet are well-secured until transferred to a personnel hardware wallet. The exchange offers two-factor authentication (2FA) on individual accounts which requires a code from a registered mobile device to login into the platform.
Overall, based on our assessment of Coinspot and comparison to other exchanges in the country, we have rated Coinspot as one of the best exchanges due to its high reputation and trustworthiness in the industry.
Binance is the largest cryptocurrency exchange in the world that offers a place to buy, sell, store, earn, stake and instantly swap crypto on a feature-rich platform. The exchange has attracted millions of users in multiple countries across the world and is often applauded in exchange reviews and social media as the best cryptocurrency trading exchange. The platform has an Australian subsidiary called Binance Australia that supports AUD deposits and withdrawals directly.
Binance Australia allows investors to instantly deposit and withdrawal using AUD via PayID/Osko (NPP payments), is supported by over 100 Australian banks and financial institutions. Binance exchange is one of the cheapest trading platforms to buy, sell and trade with fees between 0% and 0.1%. Due to the low fees and deep liquidity across all of their trading pairs, Binance is one of the best options for cryptocurrency altcoin traders.
Binance is a leading digital asset provider that has expanded it features and services to provide a full offering of products that can be accessed through the Binance website of mobile app. There are over 250 digital coins on the exchange that can be bought, traded and sold against Bitcoin, altcoins, fiat money or stablecoins such as Binance USD (BUSD), Coinbase USD Coin (USDC), PAXOS (PAX), Tether (USDT) and True USD.
One of the best features with Binance is the user-interface. It has been designed for individuals with various levels of skill and experience. There are multiple trading modes for beginners, advanced users and margin traders to short Bitcoin. Those who are not familiar with charting may use the 'Classic Interface' which is easy-to-use or 'Binance Convert' to buy/sell crypto instantly on the exchange.
The benefit of using Binance is the wide selection of products and services that are offered on the platform which include:
- Buy crypto using a wide range of fiat currencies
- Supports multiple payment methods such as bank deposit and credit/debit card
- Basic and advanced trading charting to suit users of varying skill
- Margin trading platform to long or short sell Bitcoin
- Derivatives and leverage tokens
- A secure Binance wallet to store cryptocurrency assets
- Binance saving accounts to get interest payments on crypto
- Earn staking rewards on coins like Cardano in Binance staking pools
- Binance VISA Card to covert and pay with crypto
CoinJar has served more than 400,000 customers and over $1.5+ Billion traded in digital currencies since its inception to the market. The exchange is highly regarded as one of the best exchanges for beginners and experienced investors. There are multiple ways to deposit AUD to fund a CoinJar wallet which include PayID, BPAY, Cash deposit and credit/debit cards.
CoinJar is a trusted and reputable exchange and one of the longest-running digital currency platforms that was founded in May 2013. The exchange is best known for their simple and easy-to-use products and innovations such as a crypto debit card, crypto EFTPOS card and secure CoinJar wallet application for mobile devices.
The website offers a CoinJar digital currency platform to instant purchase or sell digital assets. There is a flat 1% fee to convert AUD to crypto or between digital currencies which is similar to Coinspot and a premium for the 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 Exchange is a separate website that can be used to trade cryptocurrency using their 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, drawings tools and a variety of order types.
The charting interface appears to be aimed for beginners. It lacks trading features that are expected for crypto trading exchange in today's environment. CoinJar Exchange has a different fee structure to the fiat exchange for buying and selling crypto.
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 protect its clients information using a layer of security measures that include data encryption, Transport Layer Security (TLS), periodic security audits and best practice organisational security.
Overall, CoinJar is a reputable Australian exchange to buy and sell cryptocurrency. There are some improvements that could be made such as modernizing the user interface, increase the number of supported coins and implement advanced trading tools on the Exchange. In addition, the 1% trading fee for instant buy/sell orders is quite high and are cheaper alternatives to use.
Independent Reserve is a fiat-to-crypto exchange that was founded in 2013 in Sydney, Australia. The exchange is trusted by over 200,000 customers to buy Bitcoin with AUD, in a safe and secure trading environment. The exchange has expanded to other regions around the world such as Singapore and New Zealand with support for AUD, USD, SGD and NZD.
Customers can deposit funds to Independent Reserve Australia via bank transfer, POLi, PayID and SWIFT. The exchange offers 24 assets which can be bought, sold or stored within their crypto wallet. There are deposit and withdrawal fees that should be considered.
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 trading fees are suited 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 has never been hacked or compromised. Customer funds are stored in offline wallets to minimise the risk of theft and accounts have a number of security measures available to them, including Two Factor Authentication to prevent fraudulent access.
Overall, Independent Reserve is one of the better exchanges for high-net worth individuals and Super Fund investors to obtain the lowest trading fees in Australia. The user interface is a little difficult to navigate and there is no mobile trading app which is a negative.
Coinbase and Coinbase Pro is a popular crypto exchange that are available in over 100 countries including Australia. Founded in June of 2012, Coinbase is a digital wallet and cryptocurrency trading platform where merchants and consumers can transact with 46 cryptos like Bitcoin, Ethereum, and Litecoin.
Coinbase is headquartered in San Francisco, California and is one of the largest cryptocurrency trading platforms in the world. The exchange has over 35 million verified users, supported worldwide and 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 and easy to use platform for beginners to buy and sell digital coins such as Bitcoin and Ethereum. The sign-up, verification and link to payment process takes only a few minutes to complete. Customers can then use a highly intuitive and elegant user-interface on the online and mobile trading app to purchase cryptocurrencies
The deposit fees 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 to selling Bitcoin into AUD and withdrawing the funds.
An excellent feature on Coinbase is the ability to earn cryptocurrency by learning about blockchain projects offered on the platform. It is a fun and easy way for beginners to earn money for free by getting involved in the space and learning about cryptocurrency trading and digital assets such as BAND, MKR, COMP, XLM, ALGO, XTZ, DAI and others. Compared to other platforms in Australia, Coinbase also benefits its users with the ability to stake coins such as Ethereum and Cardano to earn passive rewards.
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.
Kraken is an US 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.
The cryptocurrency exchange is a top 5 platform based on traffic, liquidity and spot trading volume according to coinmarketcap. Kraken has 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 a digital asset exchange that connects willing cryptocurrency buyers and sellers on a simple and intuitive trading platform. 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.
Since the exchange's inception to the Australian 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 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 volume incentives based on trading 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).
Unlike the other Australian cryptocurrency exchanges, Kraken has a leveraged 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 is a suitable option for speculating on cryptocurrencies against other coins on the spot or margin platforms.
Gemini is a New York-based firm and regulated cryptocurrency exchange that is popular for providing a safe place for individuals, traders and institutions to buy, sell, and store Bitcoin and cryptocurrency. The exchange provides an advanced trading platform, custody service, secure wallet, mobile trading app and off-exchange crypto trades. Gemini is continually pushing the boundaries of mass adoption and innovation to provide an easy and safe way to interact with crypto.
Gemini offers cutting-edge trading products and services to its customers all over the world. The exchange is primarily a place to buy, trade and sell crypto, however, offers attractive features such as:
- Elegant, clean and simple way to buy digital currencies
- Supports 7 fiat currencies for user's located all over the world
- Buy, trade, store and sell 26 popular crypto coins and popular DeFi tokens
- Global payment methods such as debit card, bank transfer and crypto
- Certified exchange for a high standard of financial operations compliance
- Funds stored on Gemini wallet and insured with leading insurance providers
- Integration with WebAuthn to secure Gemini account with hardware security keys
- Intuitive mobile app for Android and iOS devices (and smart-watches)
An attractive feature with Gemini is the simplicity of buying cryptocurrency which is suited for beginners. The purchase can be performed using a single interface. A basic price chart shows the value of the asset which is represented as a line graph and the duration can be changed between daily, weekly, monthly and yearly time frames. There are no complicated charting system, order books, trade history and volume profiles that an advanced cryptocurrency trading exchange would normally show.
Gemini charges a flat 0.5% (or 50 basis points) trading fee above the prevailing Gemini market price for all buy and sell transactions which is reasonable in the industry. Depending on the volume traded, an additional transaction fee surcharge will be applied for fiat transactions. For active users, there is a trading platform that uses a different model to determine the fees which start from 0.35% and 0.25% respectively. Compared to other trading platforms, the Gemini fees are quite high for short term trading.
eToro is suited for beginners that want to speculate on the prices of cryptocurrencies using a powerful and user-friendly trading platform. The platform provides a simple platform to speculate on Bitcoin and crypto CFD's in Australia, or practice crypto trading using a virtual portfolio.
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 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 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, however users can speculate on the crypto prices.
eToro does not charge a fixed trading fee for cryptocurrency assets. The platform works on a spread cost from 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.
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.
Cointree is an Australian crypto exchange 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 AUD and convert 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. 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 with 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 users funds
- Learning Hub with educational guides to help people get started
Cointree uses tiered-fees between 0.5% and 0.9% depending on the volume traded. The trading fees are reasonable for beginners that are looking to make their first crypto purchase. However, the spread is high which are 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 trading fee and spread when looking for a cryptocurrency exchange.
Our methodology to find the best crypto exchange in Australia comprises of 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.
It is our sole objective to provide an un-biases assessment of each company for our readers to make an informed decision based on important factors such (but not limited to):
- Reputation. We take a look at how well the exchange is established in the country, number of verified users, level of engagement of followers on social media platforms and feedback from existing customers and third-party industry and media.
- Ease of use. How complex is the account creation and ID verification process, number of steps to buy or sell crypto, simplicity of the user interface and responsiveness of the mobile app.
- Deposit methods. Important aspects that we take into consideration are the number of payment methods, support for AUD deposit options, minimum and maximum daily/weekly/monthly limits and transfer speed.
- Fees. We assess all fees that are charged by the exchange which include deposit fees, buy and sell fees, spreads and cost to withdraw AUD to a bank account or cryptocurrencies to a wallet.
- Security. We evaluate the strength of the exchange's measures in place in comparison to the industry benchmark and standards. These include 2 Factor Authentication, use of cold storage, multi-signature wallets and research any previous security incidents or hacks.
- Customer support. We evaluate customer reviews on external review websites, mobile app stores, strength of the support team and the availability of social channels.
Selecting a cryptocurrency exchange can be a difficult task that depend on various factors such as your financial objectives, level of expertise and knowledge and the amount of funds to invest. Here are several key factors to consider before finding the right crypto exchange for you.
Types of Crypto Exchange
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 3 most common types of 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
Compliance With Local Laws & Regulations
Any cryptocurrency exchange that provides digital currency services to Australian's must be regulated by the law enforcement agency AUSTRAC. The financial body governs the digital industry in Australia and has established a set or rules and regulations that exchanges must abide by. Therefore, it is important to choose a cryptocurrency exchange that is regulated by AUSTRAC which provides a level of assurance the exchange has implemented strong policies and procedures to protect its customers.
Compliant exchanges will ask for personnel information such as full name, email address and a 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
In most cases, the type of cryptocurrency exchange will determine how beginner-friendly the platform will be. Investors that want to convert fiat currency (e.g. AUD) into crypto are best suited to a simple and easy-to-use exchange. Key features to look out for are rapid account creation and ID verification, instant deposits and withdrawals, simple and clean user interface and intuitive mobile app for Android and iOS devices. Based on our experience, Swyftx and Digital Surge are the two best crypto exchanges in Australia for beginners.
Supports Australian Dollars (AUD)
Not all cryptocurrency exchanges accept AUD deposits directly to fund an account. Before choosing an exchange, check if the platform accepts AUD and the payment methods available. Global exchanges will often use third-party providers such as Simplex as a payment processor which will accept credit and debit card payments in multiple fiat currencies (e.g. USD, GBP, EUR and NZD).
Deposit & Withdrawal Methods
Find an Australian cryptocurrency exchange that offers a preferred deposit options such as bank transfer, PayID, POLi, BPAY, credit or debit cards. 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 24hours. Equally as important is whether the exchange allows withdraws in AUD to a bank account and the associated limits and fees. For example, Coinbase does not support AUD withdrawals.
There are thousands of different cryptocurrency projects and coins to buy and sell. Not all exchanges will offer each coin for trading. 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). Binance, Swyftx and Digital Surge provide support for the most cryptocurrency assets.
Exchange & Wallet Security
The safety of the exchange is a critical consideration with the number of crypto exchange hacks in recent years. Industry standard security features include cold wallet storage, multi-signature withdrawal process and two factor authentication. This measures will help to prevent the theft of funds and fraudulent activity. Check the exchange's security page to confirm these measures are in place.
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. A good trading fee should be between 0.1% and 0.6% per transaction. Another tip is to check the difference between the buy and sell price on the exchange to determine the spread.
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 chat bot.
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 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.
A cryptocurrency broker is a term used for a trading platform that aggregates prices from other exchanges. Brokers will find the best possible prices from several cryptocurrency exchanges that have high trading volumes to offer their customers. A spread charge is usually added to the live rate for providing the services. Within Australia, well-known and reputable crypto brokers include Swyftx and Zipmex.
Brokers are great for investors that want a simple and easy to use trading platform with fast order execution at the best possible prices. Specifically, traders that buy and sell altcoins will benefit from using a broker as they will obtain liquidity from high trading volume exchanges to reduce the amount of slippage. On the downside, brokers will add a spread or overnight fee which can be a little higher compared to using a crypto exchange directly.
Crypto CFD Provider
Cryptocurrency CFD platforms such as Plus500 and eToro are designed for entry-level investors that do not have any technical knowledge of using an exchange and want a fast and simple way to gain exposure to digital currencies or index funds. A Contract-For-Difference (CFD) provider will allow traders to speculating on the direction of the price without purchasing the real asset. This allows the trader to long or short crypto's with leverage.
The simplified user interface with demo accounts are appealing to new investors to practise trading before switching to a real account. There is no requirement to learn how to deposit or withdraw crypto to a hardware wallet as trading pairs are denominated in AUD. CFD platforms such as eToro also offer a social trading community where traders can interact with the most profitable investors to copy-trade successful crypto portfolios from the most profitable traders on the platform.
Crypto Trading Platform
Cryptocurrency trading exchanges offer modern and feature-rich platforms with advanced charting packages to allow intermediate to experienced traders to buy, trade and sell crypto for other coins. These types of platforms are suited to altcoin traders that are looking to diversify their portfolio and trading between altcoins.
Trading exchanges feature highly intuitive user interfaces with charting features and tools such as technical indicators, drawing tools and chart patterns to allow traders to analyse the price action and identify trading opportunities. Binance is an example of a popular crypto trading platform with an easy-to-use interface for new and experienced traders.
Futures & Derivatives Cryptocurrency Exchanges
Futures and derivatives markets are recommended for experienced traders only that have an understanding of how to use leverage trading. Popular exchanges such as Bybit and FTX offer advanced trading platforms that use a maker and taker fee structure for investors and traders that have a thorough understanding of limit orders and possess sound risk management principles.
Trading crypto with leverage comes with significant risks that can result in losses greater than the starting capital. These types of platforms are excellent for customers that understand how to short sell crypto to:
- Bet on the crypto asset value decreasing in price
- Increase the amount of crypto in a portfolio by profiting on price corrections during an uptrend
- Hedge a portfolio to lock-in gains and minimize losses during a downtrend
- Create significant profit potential by using leverage to borrow more money
Crypto Exchanges To Buy Bitcoin
A great crypto exchange to buy Bitcoin in Australia must offer a stable and secure platform that accepts deposits in AUD using wide available payment methods. In addition, to maximise the amount of Bitcoin obtained the exchange should have low deposit costs and trading fees.
Based on these factors, the best Bitcoin exchange for Australian citizens is Swyftx. The exchange delivers a trustworthy and safe platform that has surged in popularity. Its abundance of features, zero-fee deposit methods using a local bank, exceptionally low fees and highly responsive customer service is world-class. Swyftx is continually innovating its platform to better serve Australian's with the best exchange to buy Bitcoin using its web application or mobile app.
Crypto Exchanges To Buy Ethereum
Ethereum (ETH) is the second largest cryptocurrency by market capitalization and has exploded in price this year. It is no surprise that investors are flocking to buy Ethereum in Australia due to its several use cases such as staking ETH2.0 to earn passive rewards or buying Non-Fungible-Tokens (NFTs) such as digital art work.
The criteria to find the best Ethereum exchange in Australia involves careful consideration of the same factors to the Bitcoin market. These include a user-friendly experience, locally supported AUD deposit options, low fees, robust security measures and excellent customer support. Based on our comparison of the top exchanges within Australia, the best place to buy Ethereum in Australia is Swyftx.
Crypto Exchanges To Buy Altcoins
The best altcoin exchanges in Australia should offer hundreds of digital currencies that can be bought and sold using fiat currency or other coins. A major consideration when trading altcoins is the cost per transaction which should be low to avoid overpaying each time a coin is exchanged.
There are reputable exchanges both globally and within Australia that provide a secure and stable trading environment for altcoins. However, the best platform for altcoin trading is Binance due to its support for hundreds of coins and trading pairs. In addition, the exchange has deep liquidity across all of its trading pairs due to its high trading volumes. Altcoin traders can fund an account with AUD to buy altcoins using Binance Australia. Another major benefit of Binance is the low transaction fees of 0.1% per buy or sell trade.
Crypto Exchanges With Cheapest Fees
When looking for the cheapest cryptocurrency exchanges within Australia, it is important to consider all fees associated with creating an account. These include deposit fees for fiat currency, transaction costs for buy and sell orders, spreads and withdrawal fees. There are different fee structures such as a flat trading fee, tiered commission and maker/taker model.
In consideration of the various exchanges offered in Australia with varying fee structures, the best cryptocurrency exchange in Australia with the lowest fees is Binance. The exchange has fees between 0% to 0.1% with small spreads due to high liquidity from being the largest crypto exchange in the world. Binance Australia has instant AUD deposits and withdrawals using 100+ NPP-enabled banks in Australia with zero fees.
Crypto Exchanges For Beginners
Simplicity is a vital consideration for individuals that have little to no experience with using a cryptocurrency exchange. Trading crypto online can involve complex charts, various order types, technical indicators and transferring crypto to new technology. Many of the top crypto exchanges feature advanced trading terminals for intermediate and advanced users that own crypto already.
Well established exchanges such as Coinbase offer a platform that is specifically designed for beginners and entry-level investors to quickly create an account complete verification and buy crypto using a preferred payment method. Within Australia, the best cryptocurrency exchanges for beginners are Swyftx and Digital Surge. Both platforms offer a clean, intuitive, easy to navigate interface with a visually-appealing design on their desktop application or mobile app.
Cryptocurrency Exchanges For Safety
Investing in crypto can involve a major commitment in terms of money and therefore is important to use a trustworthy and reputable exchange with a proven track-record. Well established exchanges should employ various security measures to protect customers personal information as well as funds as per local regulations and AML/CFT practices. The industry benchmark for safety measures include 2FA, offline cold storage, multi-signature and wallet address whitelisting.
Within the country, Coinspot is widely touted as the most secure cryptocurrency exchange in Australia that has never been hacked. The exchange is also the first crypto services provider to pass ISO information security accreditation that has achieved the security requirements of the internationally recognized internet security standard.
Cryptocurrency Platform For Trading
A cryptocurrency trading platform should have state-of-the-art features, intuitive trading experience with an advanced charting tools. For example, exchanges that are integrated with TradingView will have access to powerful charting and offer hundreds of technical indicators and price overlays. API support to third-party platforms such as automated bots and portfolio management tools are desirable.
A top cryptocurrency trading platform should have a variety of markets such as spot, margin, options, Futures and derivatives. Each market should have deep liquidity across a wide selection of trading pairs to reduce slippage for high-net worth individuals trading altcoins.
Other notable considerations for the best crypto trading platforms include a stable and reliable trading environment with robust security mechanisms and minimal downtime due to high traffic or system maintenance. Examples of some of the best trading platforms in Australia for cryptocurrency include Binance, Huobi, Kraken and Bittrex.
Crypto Exchange With Demo Trading
Demo trading is an excellent method for beginners to learn how to trade using a simulated environment that follows the cryptocurrency market. Virtual funds are used so there is zero risk of losing money trading on the platform. Assets can be bought and sold using virtual AUD at real market prices. A few examples of platforms in Australia that offer paper trading are Swyftx, eToro and Plus500.
Crypto Exchanges With Mobile App
The vast majority of exchanges within Australia have a mobile trading app for their customers for both iOS and Android devices. The best Bitcoin trading app will feature a safe user login, the ability to monitor account balances, link a payment method, deposit and withdraw AUD and place orders to buy or sell crypto. The trading app should be highly intuitive and responsive on most internet-connected devices. Within Australia, the mobile app on CoinJar is a good option and also the Swyftx app which features biometric login.
Crypto Exchanges To Pay With Cash
There are several cryptocurrency exchanges that offer alternative payment methods to bank transfers or debit cards. There are 4 options in Australia to buy crypto with a cash that include a Bitcoin ATM, convert a Amazon gift card, Peer-to-Peer (P2P) exchange a or Flexipin cash voucher with supported crypto exchanges such as Coinspot and CoinJar.
The fees to buy crypto with a cash deposit are typically higher than traditional methods using a bank transfer. For example, the fees on a bitcoin ATM can charge a service fee between 7% and 20%. The fees to pay with cash using CoinJar and Coinspot are much lower at 1.5% and 2.5% respectively. Individuals that want to use a cash deposit to pay for crypto using an Australian cryptocurrency platform will need to complete a KYC process and submit ID documentation.
Crypto Exchanges That Don't Require ID
Individuals that convert fiat currency (e.g. Australian Dollars) into cryptocurrency (e.g. Bitcoin) using an online exchange generally need to submit identification documents. This is per AUSTRAC, Australia’s financial intelligence agency and anti-money laundering and counter-terrorism financing (AML/CTF) regulator. There are some exceptions to the rule such as peer-to-peer services like Paxful. These platforms allow users to buy and sell directly with each other that don't always require ID depending on the method of payment.
Non-Custodial Crypto Exchanges
Non-custodial cryptocurrency exchanges are one of the safest ways to trade crypto to crypto. Platforms such as Easy Crypto, Changelly and ChangeNOW are non-custodial by design. This means the exchange does not store or keep any digital assets. Individuals can trade cryptocurrencies for other coins which are sent directly to a hardware wallet. Some of the best instant swap cryptocurrency platforms do not require an account of KYC to exchange coins.
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 easiest and safest way to obtain cryptocurrency in Australia is using a crypto exchange. Individuals can create an account, deposit AUD, select a crypto to buy or sell and withdraw to a hardware wallet for safe-keeping.
Several Australian cryptocurrency exchanges provide support for Self Managed Super Fund (SMSF) investors to buy digital currencies such as Bitcoin and Ethereum. Independent Reserve is one of the best exchanges for SMSF investors with over 80,000 self-managed accounts in Australia.
Cryptocurrency trading exchanges are regulated in Australia to allow individuals to buy, trade and sell digital currencies. While Bitcoin is not recognised as legal tender in Australia, it is legal to speculate on the price of coins on a spot or leverage trading exchange.
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.
To trade cryptocurrencies in Australia, you need to find a suitable Australian cryptocurrency exchange that offers trading. The platform should as a minimum provide trading features and tools to allow you to reach your financial objectives. This depends on the type of trader or investor you are.
- For long term investors or position traders, using an Australian crypto exchange such as our best picks above allow you to buy, sell and swap cryptocurrencies. This is recommended for beginner traders.
- For short term traders, using cryptocurrency trading platforms or cryptocurrency leverage exchanges that are available in Australia. These platforms allow you to quickly move in and out of trades with high leverage to capitalize on fluctuations in the prices. This is recommended for advanced traders only.
Coinbase is a popular crypto platform that has over 43 million verified users. The company is one of the most reputable, trustworthy and safest exchanges in the world with 43 billion in trading volume and 1200 employees. The exchange features the highest-standard in security measures to ensure funds are safe and customers information is kept private.
We hope our guide on the most popular cryptocurrency exchanges in Australia was useful for those wanting to purchase crypto. While we aim to provide accurate information, be sure you check each trading platforms website to verify the information in the case of changes that occur afterward and seek a financial advisor. With any financial investment, make sure to do your own research and due diligence to help you make the right choice before depositing funds.
Kevin is the founder and chief editor at HedgewithCrypto that he started in 2019 which has reached over 1.5 million visitors worldwide. He is passionate about cryptocurrency as an emerging technology and is heavily involved in the fast-growing fintech space. An experienced trader growing his portfolio since 2016, he has a strong understanding of investing in the crypto market using exchanges, brokers and derivatives platforms.