11 Best Crypto Exchanges in Australia Updated in September 2023

By: webmaster | Tags: immediate, immediate AU | Comments: 0 | octubre 9th, 2023

You can read more about the Federal Government’s plans to regulate crypto in our guide to the future of crypto in Australia. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do best not constitute a comprehensive review of a particular sector. While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed.

• The platform has a security certificate (ISO 27001) and a strong safety system to protect users’ assets and funds.
• There are many other trading platforms that provide almost the same experience but with a much better trading fee structure.
• Be rewarded with crypto and other special offers by actioning certain tasks within the Swyftx platform.
• Patrick McGimpsey is a freelance writer passionate about crypto and its impact on the financial world.
• If that is not enough, you can email Support to speak to specialised teams, and there is also a Help Centre with regular articles and tutorials to assist users.

For additional protection for its investors, Independent Reserve offers insurance cover with a Premium Account. The highest level of cover insures $5 million AUD worth of digital assets. CoinJar does not offer as many cryptocurrencies as CoinSpot and Swyftx, but with more than 50 – of the most traded coins, this is sufficient for the majority of crypto investors. Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain.

How do I start trading with cryptocurrency?

Many investors still trust third parties, such as an exchange or wallet custodian, to manage their assets. While this can be convenient, if this entity gets hacked, all the assets under management could be stolen. The convenience of exchanges also comes at a cost, as the beginner-friendly options charge substantially more than it would cost to buy the same crypto via each platform’s standard trading interface. To save on costs, you might aim to learn enough to use the standard trading platforms before you make your first crypto purchase—or not long after. These can include AUD deposit fees, withdrawal fees, and trading fees between assets.

• Australians are able to deposit funds in AUD directly to the exchange to access its wide range of innovative features and products.
• The interest you pay when you trade with more than you have in your platform account.
• This is because the broker offers a variety of high quality educational resources and research tools that can be used to leanr about the markets as well as trading strategies.
• Canstar is not providing a recommendation for your individual circumstances.

Over 120 of these companies have facilitated trading volumes exceeding $100 million in the past 24 hours before writing this guide. The result is that you are indirectly paying a 2% fee, which is effectively a spread in all but name. Additionally, Coinmama charges a 3.90% trading commission when you buy and a 0.90% commission when you sell cryptocurrencies. If this wasn’t bad enough, debit and credit card transactions are excessive fees.

Create and Verify Your Account

One of the best things about trading stocks on Eightcap is the incredibly low spreads, which start from 0 pips if you choose a RAW account. This account has a very low £3.5 commission, or you can go for a zero commission standard account in which spreads start from just 1 pip. Be aware of any deposit and withdrawal limits that you may be subjected to when using the exchange. Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news. Cryptocurrency exchanges that operate in Australia must register with AUSTRAC and follow its reporting and record-keeping obligations.

• Besides more than 250 currencies for spot trading, Crypto.com also supports a subset of these for staking.
• Kraken is a top 10 platform based on traffic, liquidity and spot volume with more than 70 crypto trading pairs with new assets added frequently.
• With such a high leverage, you can maximise the amount of profits you can make from your investment.
• Since 2013, we’ve helped more than 600,000 people worldwide to buy, sell, send and even spend billions of dollars in Bitcoin, Ethereum and dozens of other cryptocurrencies.

You can make deposits using PayID, bank transfer using BSB and account number, SEPA and Faster Payments. With Blueshyft, you can make instant cash deposits at more than 1,500 retailers with a 1.5% fee. If you’re just getting started with cryptocurrency, look for an easy-to-use platform with plenty of educational resources to help you understand this complex, rapidly developing market. As crypto has grown more popular and valuable, it’s become a big target for hackers. Leading exchanges like Binance and KuCoin have been hacked, resulting in tens of millions of dollars in losses. While exchanges often reimburse those whose coins are stolen, nobody wants to be in that position in the first place.

Best Crypto Exchanges For Australians In 2023

Beginners can benefit from its reputable copy-trading platform by following the most profitable traders to earn a passive income that can be used to purchase crypto or simply learn how to trade. 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. 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 other exchanges like Swyftx (0.6%) and Binance (0.1%).

In addition, Swyftx provides a user-friendly desktop and app platform for their customers. Swyftx is a well-known Australian-based cryptocurrency exchange that has been operating since 2017. The platform offers a straightforward pricing model, charging a flat 0.6% fee on all trades across over 320 cryptocurrencies. For beginners, Swyftx provides an intuitive interface that is easy to use, and even offers paper trading for those who want to test their trading skills without risking real money. Experienced traders can benefit from real-time price data and integrated charts to facilitate more advanced trading strategies. With various crypto assets and blockchain-related products available, Crypto.com is a prominent crypto exchange.

What is the best Bitcoin trading platform for beginners?

To do this, you must either correctly guess a 64-character, alphanumeric string with trillions of possible combinations or stake your own cryptocurrency for the opportunity. This usually means uploading a photo or short video of your face or looking into the lens of your webcam or smartphone camera while following a series of prompts. These steps are part of know-your-customer (KYC) process which regulated exchanges must complete in order to keep you safe, as well as stay compliant. Best Australian exchange for crypto, customer service is excellent when help is needed. What can I say , the guys at Swyftx were fast to reply , honest and kept my funds safe from other platforms trying to scam me and due to the sec… I have done multiple transactions of small to high value and have been very ha…

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. Industry-standard security features include cold storage, a multi-signature withdrawal process, – and two-factor authentication. Well-established cryptocurrency exchanges in Australia 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.

CoinSpot fees

But if you can show your ID for the KYC process, you can get more rewards and use AUD fiat money to buy crypto. But before you jump into the crypto market, you need to find a reliable and trustworthy crypto exchange to buy and sell your cryptos. Liquidity refers to the amount of capital a Bitcoin exchange possesses on a particular pair. That means that the platform benefits from high trading volumes when there is a lot of liquidity. There are a variety of educational resources available on the best crypto platforms that we reviewed. In addition, human traders are fully aware of fundamental news developments, whereas trading robots rely solely on technicals.

• If you’re just getting started with cryptocurrency, look for an easy-to-use platform with plenty of educational resources to help you understand this complex, rapidly developing market.
• Currently working as the content lead for Australian startup CryptoTaxCalculator, Patrick has also covered the crypto industry for Canstar and The Chainsaw.
• As an example, I conducted my own in-depth test to work out the lowest combined fees and spreads, which you can read about here.

It has built up its reputation and trust in the Australian crypto industry, and the best feature is the CoinJar card, that operates like a debit card for your cryptocurrency. It is powered by MasterCard, and you load it with any cryptocurrency you like in your CoinJar account. After you have pre-loaded it, you can spend it on any purchases where MasterCard is accepted, whether online or in a store.

Over 320+ cryptocurrencies

Exchange traded funds are popular investments that let you buy exposure to hundreds of individual holdings in one fell swoop. This means they provide immediate diversification and may be less risky than selecting individual investments. Once there is money in your account, you’re ready to place your first cryptocurrency order.

• If you lost access to your crypto wallet, you will not be able to restore your funds.
• EToro offers a demo account with $100,000 virtual money to practise trading, it has crypto staking, and margin trading with 2x leverage.
• Look for an exchange with a solid reputation and positive reviews from users.
• The provider is also heavily regulated, including a fully-fledged license from the FCA.
• To further substantiate CoinStash’s suitability to HODLers, investors can submit their crypto to the Earn program where passive interest payments can be obtained.
• You can also buy and sell unique digital artworks called NFTs on its marketplace.

The Learning Rewards feature allows customers to earn free digital currencies by completing online courses. These courses usually come in the form of quizzes or informational videos and require just a few minutes of your time, with a reward of $1 for a specified coin. Cointree uses tiered fees between 0.5% and 0.9% depending on the volume traded and is reasonable for beginners looking to make their first crypto purchase. Users can choose from either the basic or advanced trading interface to conduct their spot trades. The basic interface comprises a simple line chart of the price of the selected digital asset, whereas TradingView charting is integrated into the advanced interface and will suit more astute traders.

Choose a Broker or Crypto Exchange

However, depending on your location, you might not be able to take advantage of this service. For example, the UK charges 2% for debit/credit card transactions, while Americans pay 4.5%. It is possible to access various diversified crypto assets like the best DeFi coins through these professionally managed portfolios. CopyPortfolio will be updated with the addition of, removal of, and rebalancing of assets after the team feels this is necessary. There is no one-size-fits-all answer to the question of which crypto exchange is the safest.

• Please also remember that you need to be careful of the risks of margin trading, since a small change in price in the other direction can result in a loss of your entire investment.
• As an example, Bitcoin, traded close to $US70,000 in late 2021 and yet by June of 2022 was trading below $US18,000 before recovering to hover around the $US30,000 mark a year later.
• That is because Coinmama does not allow you to store your coins on the platform, unlike other crypto providers.
• It charges a flat commission of 0.85% for all trades but deposits and withdrawals of AUD are free.
• It follows the laws about money laundering, terrorism financing, and privacy.

Know what your requirements and what features you need, to make it easier for you to find a suitable exchange. Here are some of the key things to consider, click on each one to read more information. Choosing a crypto exchange that is registered with AUSTRAC, such as CoinSpot and Swyftx means that it is adhering to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws. You can also be sure that your funds and private information are kept secure. The biggest downfall of Independent Reserve is that only 27 cryptocurrencies are supported.

Swyftx – Overall Best Crypto Exchange In Australia

Explore the website to find out what communication methods are available to support users that need troubleshooting advice or assistance on the exchange. Most cryptocurrency exchanges in Australia will provide a Frequently Asked Questions (FAQ) section and How-To-Guides which is helpful for beginners. Otherwise, make sure the website has a ticket system to contact the customer support team directly or through a live chatbot. 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. Coinbase Australia is one of the few global crypto exchanges that provide support for AUD deposits using a debit card.

• CopyPortfolio will be updated with the addition of, removal of, and rebalancing of assets after the team feels this is necessary.
• This covers you against any theft or loss of digital currency that is held in an Independent Reserve wallet.
• With more than 700+ coins, low trading fees of 0.1%, and plenty of markets, experienced traders will love KuCoin.
• Make sure the chosen crypto exchange provides an onramp for Australian Dollars or another preferred currency.
• When demand is met with sufficient supply or more supply than is needed, prices tend to remain flat or fall.

Most cryptocurrency exchanges allow you to create an account, then transfer fiat currency (such as Australian Dollars) to buy cryptocurrencies such as Bitcoin or Ethereum. A growing number of cryptocurrency trading exchanges allow you to create a wallet to store your cryptocurrency, as well as buy and sell on the exchange. If you are looking to invest in assets like stocks or ETFs, then the best online trading platforms Australia usually charge a fixed commission.