With more than 400 registered crypto exchanges in Australia, it can be a difficult task for beginners to find a crypto exchange that's the right fit and offers the best value. The team behind HedgewithCrypto has spent the last 24 months testing, researching, and reviewing each crypto platform based on its features, supported cryptos, AUD deposit methods, and fees to find the best cryptocurrency exchange in Australia. Here are our final picks for the top crypto exchanges in Australia to help you make an informed decision.
Best Crypto Exchanges In Australia For 2023
- Swyftx (overall best cryptocurrency exchange in Australia)
- Binance (best crypto platform for trading)
- ByBit (best choice for margin trading crypto)
- Coinspot (best Australian crypto exchange for security)
- CoinJar (best for ease of use)
- Independent Reserve (best for SMSF)
- Coinbase Australia (best for debit card purchases)
- Kraken (suitable for advanced traders)
- eToro (suitable platform for copy-trading)
- Cointree (popular local exchange)
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The Best Crypto Exchanges In Australia Compared
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|$20 Bitcoin for creating a verified account||Visit Swyftx||Swyftx Review|
|600+||0% to 0.1%|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|81||0.06% / 0.01% (leverage), 0.1% (spot)|
|Deposit bonus up to $30,000||Visit Bybit||Bybit Review|
|370+||1% for instant buy and sell|
|None available at this time||Visit CoinSpot||CoinSpot Review|
|None available at this time||Visit Coinjar||Coinjar Review|
|None available at this time||Visit eToro Aust...||eToro Australia Review|
|$10 BTC for creating a verified account||Visit Independen...||Independent Reserve Review|
|250+||0.5% + 3.99%|
|None available at this time||Visit Coinbase A...||Coinbase Australia Review|
|195||0.16% / 0.26%|
|None available at this time||Visit Kraken Aus...||Kraken Australia Review|
|160 including BTC, ETH, BNB, XRP, ADA, DOGE||0.5% - 0.9%|
|None available at this time||Visit Cointree||Cointree Review|
Top Crypto Exchanges For Australia - 2023 Reviews
Here is our top list of cryptocurrency exchanges for Australians to use. We have compiled this list based on important aspects that must be considered when choosing the right platform. These include supported payment methods, the number of coins, trading fees, security, and customer support.
1. Swyftx - Overall Best Crypto Exchange In Australia
Why we picked it: Swyftx is undoubtedly our number 1 pick for the top crypto exchange in Australia. After thorough use of the desktop and mobile app, we found the purpose-designed user interface, an abundance of useful features, and highly responsive customer support unrivaled in the Australian market. The exchange is highly suitable for beginners and advanced traders that want to buy cryptocurrencies with AUD.
What we found most impressive about Swyftx is the instant AUD deposits and withdrawals, demo mode, and low fees of 0.6% with competitive spreads across all coins. There is even a $20 Bitcoin referral code for individuals that create an account and complete the account verification process and sign-up using our link.
Swyftx is an AUSTRAC-registered Australian cryptocurrency trading platform that is registered with the financially regulated ASIC. In a short period of time, Swyftx has grown exponentially with over 600,000 users which we strongly believe is a direct result of its simple and transparent platform to invest in cryptocurrencies using AUD, USD, and BTC. Its unique approach in the market for Australians to buy Bitcoin or another crypto asset quickly on Swyftx using AUD or USD with a wide variety of methods has been key to its growth.
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 with email confirmation workflows for each step along the process. Moreover, Swyftx is currently one of the only Australian exchanges that support debit and credit card payments. Although the fees are slightly higher, it provides a variety of investors the flexibility to pay for cryptos with bank cards.
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.
For traders on the move, the Swyftx app will impress with its 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 a cost-effective 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 310+ cryptos with AUD.
- $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
- 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. Binance - Best Australian Crypto Exchange For Traders
Why we picked it: Binance is trusted by 1 million Australians at the time of writing, making it the second-largest crypto exchange in Australia behind CoinSpot. For those looking for a trustworthy and safe crypto exchange in Australia, Binance is a smart pick. Despite being an international exchange, Binance has tailored its services to accommodate Australian customers with the ability to deposit AUD with zero fees. Moreover, Binance has one of the biggest selections of coins (600+) in the industry, and the cheapest trading fees are between 0% and 0.1%.
Combined with a variety of markets including spot, margin, futures, and options, Binance is an excellent platform for traders. For investors, there is an excellent selection of premium products, services, and features such as Binance Earn. In addition, Binance rewards new users with a bonus of up to $100 for free using a 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. This is hugely important as other exchanges do not have instant AUD deposit options. This works both ways as funds from a Binance wallet can be transferred to a bank account rapidly.
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.
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, those that are not interested in trading can deposit their crypto into a savings account to accrue interest. The rewards earned are typically greater than the interest offered in a bank account.
When it comes to fees, Binance is one of the cheapest platforms to buy, sell, and trade crypto. The fees are between 0% and 0.1% with zero crypto trading fees across 13 stablecoins and fiat combinations. Due to the low trading fees and deep liquidity across all of their trading pairs, this makes Binance is one of the best places for cryptocurrency altcoin traders in Australia.
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. Those looking for a superb altcoin exchange should not go past Binance with the biggest selection of coins in Australia.
- #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
- 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
3. ByBit - Best Australian Exchange For Margin Trading
Why we picked it: ByBit is geared toward serious crypto traders with its purpose-designed and fitted with the best technical analysis, charting, and trading tools for Australians that want to speculate on the crypto markets. There is an abundance of markets to trade including spot, margin, leveraged tokens, derivatives, options, copy-trading, and a P2P platform. There is even a ByBit referral code to claim up to $5,000 in deposit bonuses.
As a no-KYC crypto exchange, ByBit allows individuals in Australia to join and create an account on its platform. Predominately crypto-to-crypto trading platform, users can get started quickly and begin trading without ID verification. This is advantageous for privacy-focused and existing crypto holders that will be able to withdraw up to 2 Bitcoin per day without completing KYC. However, ByBit is geared toward existing crypto users as there is no ability to deposit AUD directly to the exchange (or withdraw to a bank account).
The best feature of ByBit and the reason it makes this list of best exchanges is the superior trading and charting application. ByBit offers a very advanced trading platform powered by TradingView charts, with hundreds of built-in indicators and drawing tools. The price charts offer a wide range of time frames and tools to draw trend lines, add indicators, and chart patterns. There is the ability to set a take profit/loss orders directly with one-click charts which is an excellent feature for managing trades.
When it comes to leverage trading, ByBit is truly unique in its offering. There are plentiful derivatives markets supported, and multiple ways to use leverage up to 100x with ample flexibility and choice. These include futures contracts, leveraged tokens, inverse contracts, and options trading. In addition, ByBit has world-class liquidity which is a major benefit for high-net-worth Australian crypto traders. This keeps spreads and slippage to a minimum, which complements the extremely competitive fees that start from 0.06% (maker) and 0.01% (taker). In short, ByBit is a great choice for experienced crypto leverage traders in Australia.
- Trustworthy and reputable crypto trading platform
- One of the most liquid crypto derivatives markets
- Variety of markets including spot, perpetuals and Futures
- Sophisticated and modern user experience
- Highly responsive and feature-rich mobile trading app
- Does not allow direct AUD deposits or withdrawals
- Not suitable for first-time crypto buyers
- Beginners may find the user interface complicated
4. CoinSpot - Best Australian Crypto Exchange For Security
Why we picked it: CoinSpot is a long-established and reputable cryptocurrency exchange based in Melbourne that was established in 2013. It is currently the largest crypto exchange in Australia with more than 2.5 million customers. Based on 1,879 existing customer reviews at the time of writing, CoinSpot has been rated with 4.5/5 stars on Trustpilot which is a testament to being a top crypto platform.
Since we have been using the exchange since 2019, we found CoinSpot to be a solid choice for beginners that is centered on ease of use and to instantly buy and sell the 370+ listed coins. In short, CoinSpot provides a variety of payment methods (including cash deposits) that will make it a relief for crypto investors that want a simple and convenient platform to use in Australia.
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.
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 which is considerably more expensive compared to Swyftx (0.6%) and Binance (0.1%). There is the option to pay 0.1% per trade using the CoinSpot exchange, although it is not suitable for beginners 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 most secure exchanges 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.
- Easy to use and highly suitable for beginners
- Variety of AUD deposit options with zero fees
- Largest selection of 370+ coins to buy
- Support for SMSF investors and OTC
- 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
5. 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. The advantages of the platform are the variety of ways to deposit money including PayID, BPAY and even cash deposits. First-time crypto investors can get started with as little as $10 to invest in around 50 of the most popular coins. There is also the innovative CoinJar debit card to spend crypto which is an attractive feature. However, be prepared to pay slightly higher fees on its instant buy and sell platform.
CoinJar is a reputable platform that has served more than 400,000 customers and has 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 with a 4.1/5 star rating on Trustpilot based on more than 2,089 existing customer reviews. Like CoinSpot, 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 application for mobile devices.
The most popular aspect of CoinJar is the ability to instantly purchase or sell Bitcoin back to AUD on the website or mobile app (shown below). There are more than 50 coins that are supported, which includes the major assets by market capitalization. CoinJar also has a separate exchange 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. We found the user interface is sleek, minimal, and easy to navigate. However, the charting is basic and doesn't include technical indicators, and is overall lacking compared to trading platforms such as Binance Australia. Moreover, the trade volume on the exchange is very low.
As for the fees, CoinJar charges 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. However, this is a separate platform and requires a separate account. While CoinJar fees are comparable to CoinSpot in Australia, there are much cheaper alternatives like Binance and Swyftx.
Overall, we like that CoinJar is a regulated exchange to buy and sell cryptocurrency. But there are several improvements that could make CoinJar a great option. These include increasing the number of supported coins, implementing advanced trading cryptocurrency tools, and reducing instant buy fees.
- 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
- Instant buy and sell trading fees are too high
- CoinJar Exchange lacks trading volume and liquidity
- Does not offer recurring orders or staking features
6. 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, however, doesn't boast an impressive list of features as its competitors.
Independent Reserve is a locally based exchange in Sydney founded in 2013 that is used by over 250,000 customers globally. While the exchange's main market is Australia, the company has expanded to other regions around the world such as Singapore and New Zealand. Of the many benefits, Independent Reserve exchange is most well known as a trusted crypto exchange that is geared towards high-net-worth individuals, institutions, and Super Fund investors. For newer traders in Australia, the exchange provides a stable platform to invest in crypto with an easy onboarding process.
Customers can deposit funds to Independent Reserve Australia via bank transfer, POLi, PayID, and SWIFT which makes it very accessible for Australians to fund an account using AUD. Unlike Swyftx, there is no option to pay for crypto with a debit or credit card. However, Independent Reserve does have zero AUD fee deposit options and has support for AUD, USD, SGD, and NZD.
In terms of the number of cryptos, Independent Reserve has 30 assets that can be bought, sold, and stored which are quite limited to other crypto exchanges. Although, the offering does include the major coins by market capitalization such as Bitcoin, Ethereum, Binance Coin, XRP, and Cardano.
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.
Security of assets is of paramount importance, and Independent Reserve Exchange does not take safety lightly. The exchange has never been hacked or compromised and has ISO 27001 certification. Moreover, customer funds are stored in offline to minimize the risk of theft and accounts have a number of security measures to prevent fraudulent access such as 2FA. In short, Australians looking for a reputable and secure exchange should look no further than Independent Reserve.
- Trusted exchange by over 250,000 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
- 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
7. 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 in the US and worldwide that is available in over 100 countries including Australia. Founded in June of 2012, Coinbase is a secure 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 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.
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, and secure coin storage using AES-256 encryption. Overall, Coinbase offers a safe exchange to buy crypto in Australia using a debit card but has high fees.
- 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
- 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
8. 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.
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).
Unlike the other Australian cryptocurrency exchanges, Kraken has a leveraged and margin trading platform. 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 platform using AUD.
- 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 platform
- 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
9. 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 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.
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.
- 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
- 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
10. Cointree - Popular Crypto Exchange In Australia
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 solution that stores a portion of funds in offline cold storage to protect user's 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 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.
- 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
- Not suitable for experienced or professional traders
- Not the cheapest exchange in Australia for high net worth investors
How To Choose A 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 number 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 a 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.
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).
Using a secure exchange is a critical consideration. Industry-standard security features include cold storage, a multi-signature withdrawal process and two-factor authentication. Well-established Australian crypto exchanges should employ various security measures to protect customers' personal information 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.
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.
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.
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.
Crypto exchanges will include a digital wallet to store the purchased crypto. While the investor can access the funds and make withdrawals, the exchange is the actual holder of the private keys. As exchanges can be hacked or compromised, it is best to transfer the crypto from the exchange to an external wallet. We've reviewed some of the best crypto wallets for Australia to store your cryptocurrencies.
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.