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 reviewed over 100 crypto platforms to find the best cryptocurrency exchanges in Australia to help make an informed decision. Our methodology for finding the top picks included creating an account, depositing funds and buying crypto to experience the full features of each crypto exchange.
- Swyftx (best Australian exchange overall)
- Coinspot (best exchange for security)
- Digital Surge (best for low fees)
- Binance (great for trading altcoins)
- FTX (best for margin trading)
- CoinJar (best for ease of use)
- Independent Reserve (best for SMSF)
- Coinbase (best for debit card purchases)
- Kraken (suitable for advanced traders)
- eToro (suitable platform for copy-trading)
- Cointree (popular local exchange)
1. Swyftx - Overall Best Crypto Exchange In Australia
Swyftx is an AUSTRAC registered Australian cryptocurrency trading platform with over 500,000 users that provide a simple and transparent way for individuals to invest in over 290 cryptocurrencies using AUD, USD and BTC. Swyftx is offering a $20 Bitcoin bonus for individuals that create an account and complete the account verification process. The promotion is available for users who sign-up using our link.
Swyftx is our recommended crypto platform in Australia due to the excellent range of products and features on offer that will suit various types of investors. Examples include rapid AUD deposits and withdrawals, portfolio tracking, recurring orders, low trading fee, demo account mode and price alerts.
Australians can buy Bitcoin or another crypto asset quickly using AUD or USD. There is 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 account. There are zero fees to deposit and withdraw AUD to a bank account. Swyftx is also the only Australian exchange to support debit and credit card payments.
The feature-rich platform will suit beginners and experienced investors with its user-friendly mobile app, tax calculator and dollar-cost averaging tools. The desktop and mobile application have been designed for all investors to get started with digital currencies. The exchange has also introduced Swyftx Earn which allows its users to store funds within a secure wallet for earning interest to earn passive rewards. The funds are not locked in and can be withdrawn at any time. Swyftx is one of the best crypto interest platforms in Australia to give passive rewards across a good selection of coins.
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 exchange account to trade digital currencies risk-free.
While there are worthy alternatives to Swyftx, 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 trading fees are very reasonable. Swyftx exchange offers a complete package with useful features and very reasonable prices to buy Ethereum or other altcoins.
Swyftx works slightly differently from a traditional 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 large crypto 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 short, our top pick for the best crypto exchange for Australian traders is Swyftx ($20 BTC sign-up bonus) based on important factors such as ease of use, deposit options, fees, overall trading experience, mobile app security and customer support.
- $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
2. CoinSpot - Top Crypto Exchange In Australia For Security
Coinspot is a well-respected cryptocurrency exchange that is easy to use. Since being 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 a wide range of altcoins with AUD. It is one of the biggest crypto exchanges in Australia in terms of registered accounts. 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 its '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 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 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 platform to receive the internationally recognized ISO 27001 certification for information security. Funds stored on the exchange 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. Due to its bank-like security 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 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 on its instant buy and sell platform should be avoided.
- 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
3. Digital Surge - Best Crypto Exchange For Low Fees
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. The exchange is focused on simplicity which starts from the verification process which is automated. That means users can buy, trade and sell over 300 digital currencies including popular meme coins such as Dogecoin and Shiba Inu.
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. A Digital Surge account can also be used to pay bills with crypto.
Digital Surge's trading fee is 0.5% is competitive when compared 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 AUD fees to deposit and withdraw Aussie Dollars directly with a local bank which are processed near-immediately.
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
4. Binance - Best Australian Exchange For Altcoin Traders
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), 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 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 its features and services to provide a full offering of products that can be accessed through the Binance website or mobile app. There are over 397 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 of 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
- Multiple payment methods such as bank deposit, debit and credit card
- Basic and advanced trading charting to suit users of varying skill
- Margin trading platform to long or short sell Bitcoin
- Derivatives, leverage tokens and margin trading
- A secure Binance wallet to store cryptocurrency assets
- 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
- Saving accounts to get interest payments on crypto including Bitcoin, Ethereum, meme coin, DeFi tokens and stablecoins
- Binance VISA Card to covert and pay with crypto
In summary, Binance Australia is a reliable and exchange to quickly deposit AUD and trade altcoins using an advanced charting terminal with excellent trading volume. The low trading fee of 0.1% per transaction and zero AUD fees for deposits offer superb value-for-money.
- #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
5. FTX - Top Crypto Exchange For Margin Trading
FTX is a cutting-edge trading platform 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 that is a world-class platform for trading crypto with leverage. Combined with its seamless mobile app, FTX offers several advantages and benefits for crypto 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 cryptos 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.
The ability to trade crypto with margin using a variety of products makes FTX stand out from the other crypto exchanges in this list. The fees start from 0.02% to 0.07% for makers and takers on its futures and spot markets. The 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%.
- 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
6. CoinJar - Best Crypto Platform For Ease of Use
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 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 cards.
CoinJar is a trusted and reputable exchange and one of the longest-running digital currency platforms that were founded in May 2013. 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 secure CoinJar 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 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 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, drawings 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 measures 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 tools on the Exchange. In addition, the 1% trading fee for instant buy/sell orders is quite high and are cheaper alternatives to use.
- 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
7. Independent Reserve - Best SMSF Crypto Exchange
Independent Reserve is a fiat-to-crypto exchange that was founded in 2013 in Sydney, Australia. Trusted by over 200,000 customers to buy crypto, it is a safe and secure exchange to use. 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 that can be bought, sold or stored within their crypto wallet. There are deposit and withdrawal AUD 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 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 minimise the risk of theft and accounts have a number of security measures to prevent fraudulent access.
Overall, Independent Reserve exchange is one of the better exchanges for high-net-worth individuals and Super Fund investors to obtain the lowest trading fees in Australia. The website interface is a little difficult to navigate and there is no mobile trading app which is a negative.
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
8. Coinbase Australia - Good Exchange For Debit Cards
Coinbase and Coinbase Pro is a popular crypto exchange that is 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 best exchanges in the world. The exchange has 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. 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 to selling Bitcoin into AUD and withdrawing the funds.
An excellent feature of 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 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.
- 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
9. Kraken Australia - Suitable For Advanced Crypto Traders
Kraken is a 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. Kraken is a top 10 platform based on traffic, liquidity and spot trading 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 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 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 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 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 is a suitable option for speculating on cryptocurrencies against other coins on the spot or margin platforms.
- 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
10. eToro Australia - Great Platform For Copy-Trading Crypto
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.
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 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
11. Cointree - Popular Crypto Exchange In Australia
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 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. 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 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 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 trading 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
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.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|$20 Bitcoin for creating a verified account||Visit Swyftx||Swyftx Review|
|$10 Bitcoin for creating a verified account||Visit Digital Surge||Digital Surge Review|
|None available at this time||Visit CoinSpot||CoinSpot Review|
|20% off trading fees||Visit Binance Au...||Binance Australia Review|
|325||0.02% / 0.07%|
|5% off trading fees||Visit FTX Australia||FTX Australia 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|
|46||0.5% + 3.99%|
|None available at this time||Visit Coinbase A...||Coinbase Australia Review|
|94||0.16% / 0.26%|
|None available at this time||Visit Kraken Aus...||Kraken Australia Review|
|160||0.5% - 0.9%|
|$10 bonus after first trade||Visit CoinTree||CoinTree Review|
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 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 exchanges
- Decentralized exchanges
For beginners that are investing in cryptocurrency for the first time using Australian Dollars, the most suitable exchange is a fiat-to-crypto service. These exchanges accept AUD using widely available payment methods (e.g. bank transfers, credit card or debit card) which are relatively quick. Individuals that already own crypto can use a trading platform to convert or swap crypto-to-crypto (e.g. Bitcoin to Ethereum).
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 or rules and regulations that exchanges must abide by. These exchanges provide a level of assurance and safety measures 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
Ease of use is a vital consideration for newer investors 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. Beginners should look for an exchange with a modern and simplistic user interface that streamlines the account creation, depositing funds and purchasing crypto process. On the other hand, serious crypto traders will benefit from advanced trading platforms that feature feature-rich charting, technical indicators and tools, various order types and a responsive mobile app to monitor and place trades.
Supports Australian Dollars (AUD)
Not all cryptocurrency exchanges accept AUD deposits. It is wise to ensure the crypto exchange provides a fiat-to-crypto onramp for Australian Dollars or another preferred currency. Global exchanges will often use third-party providers such as Simplex as a payment processor 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 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 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 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
The safety of the exchange is a critical consideration with the number of crypto exchange hacks in recent years. Industry-0standard security features include cold wallet storage, multi-signature withdrawal process and two-factor authentication. Well-established exchanges should employ various security measures to protect customer's personal information as well as funds as per local regulations and AML/CFT practices. These 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 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 investors and crypto 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 platform with fast order execution at the best possible prices. 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 more experienced 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 advanced crypto traders to speculate on the direction of the price without purchasing the real asset. This allows the trader to long or short cryptos with leverage and margin trading.
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 portfolios and trade 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 crypto traders to analyse the price action and identify trading opportunities. Binance is an example of a popular crypto 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 platforms that use a maker and taker fee structure for investors and crypto traders that have a thorough understanding of limit orders and possess sound risk management principles.
Decentralized exchanges (DEX) are trading platforms that connect buyers and sellers without a central authority or middleman. They are non-custodial which means crypto-assets are swapped directly between users and always remain in control of the private keys. The benefit of a DEX is lower costs of trading and earning opportunities for investors that provide liquidity. Some of the best crypto DEX platforms include PancakeSwap, SushiSwap and dYdX.
Crypto Exchanges To Buy Bitcoin
Crypto exchange to buy Bitcoin in Australia must offer a stable and secure platform that accepts deposits in AUD with a wide range of deposit methods and a beginner-friendly website or mobile app. The exchange should also have low fees and spreads to maximize an investment. Based on these factors, it is best to use a local Bitcoin exchange such as Swyftx to avoid paying foreign exchange fees.
Based on these factors, the best Bitcoin exchange for Australian citizens is Swyftx. The exchange has an easy-to-use platform with an abundance of features to suit beginners and serious crypto traders alike. With its reliable spot trading platform, zero-fee AUD deposits using bank transfers, PayID, OSKO and debit/credit cards, Swyftx is a quality choice to buy Bitcoin.
Crypto Exchanges To Buy Ethereum
Ethereum (ETH) is the second-largest cryptocurrency by market capitalization and is available on the majority of exchanges. The same criteria for selecting a Bitcoin exchange apply to investing in Ethereum. This includes a modern platform that is easy to use, a variety of AUD payment methods, competitive fees and local customer support. Based on these aspects, Swyftx is one of the cheapest exchanges to buy Ethereum.
Crypto Exchanges To Buy Altcoins
A major consideration when trading altcoins is the cost per transaction which should be low to avoid overpaying each time a coin is exchanged. A popular exchange to buy altcoins in Australia is Binance, which supports over 397 coins. The exchange has deep liquidity across all of its trading pairs due to its high trading volumes and low transaction fees of 0.1% per buy or sell trade.
Crypto Exchanges For Beginners
Within Australia, the best cryptocurrency exchanges designed for entry-level beginners are Swyftx, Digital Surge and Elbaite Exchange. These platforms have a clean, intuitive, easy-to-navigate interface with a visually-appealing design on their desktop application or mobile app.
Cryptocurrency Platforms For Trading
A cryptocurrency trading platform should have state-of-the-art features, an intuitive trading experience with advanced charting tools. Moreover, provide a variety of markets such as spot, margin, options, futures and derivatives. Examples of the best cryptocurrency trading platforms are Binance, FTX, KuCoin, Huobi, Kraken and Coinbase Pro.
Crypto Trading Platforms With Low Fees
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 To Pay With Cash
The fees to buy crypto with a cash deposit are typically higher than traditional methods like bank transfers. The fees to pay with cash using CoinJar and Coinspot are much lower at 1.5% and 2.5% respectively and are the best crypto exchanges for cash purchases.
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:
- 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.
- 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.
- 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.
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.
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.
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 best exchanges, read our exchange review methodology process.
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.