Best Crypto Exchanges in Australia Updated September 2023

We based our choice on the platform’s extensive list of support cryptocurrencies, high-level security methods, reasonable fees, and the overall user experience. Otherwise, if you want to trade crypto coins you already possess against other cryptocurrencies (BTC to ETH, for example), then find a trading platform that offers direct crypto-to-crypto swaps. I was happy to see that they also have a lot of alternative deposit methods like PayPal, apart from credit/debit cards and bank transfers. They started as a crypto-to-crypto only exchange but now accept over 20 different fiat currencies, which is always a plus if you ask me. So they now support 4 fiat currencies (AUD, USD, EUR, GBP) for trading and 3 currencies for withdrawals and deposits (AUD, EUR, GBP).

• Coinmama is different from any other crypto platform I have visited before.
• It also provides up-to-the-minute market data, insightful analysis, and tools to…
• Mycelium Local Trader is similar to LocalBitcoin in that it will help you find your local Bitcoin sellers.
• 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.

It is not intended as investment or financial advice and should not be relied on as such. Before making any financial commitment you should seek professional advice from a qualified investment or financial adviser. Any exchanges we list on our pages should be diligently researched, we list exchanges based on public information at the time. Exchanges have been known to suddenly collapse and we highly recommend keeping any cryptocurrencies you own on a cold wallet.

Is crypto margin trading legal in Australia?

Some other platforms require you to have your own external wallet at the time of purchase, and any crypto you buy is sent straight there. You also need to take into account the spread, when comparing crypto exchanges. This is the difference between the buy and sell prices of a cryptocurrency – that you are purchasing. Some exchanges have wider spreads, which effectively increases the fee you pay per transaction. Security is a paramount concern when talking about cryptocurrencies, and you would have heard of many security breaches over the years, even of large crypto exchanges.

These credits can be utilized or exchanged for other rewards, including valuable NFTs, to encourage more individuals to opt for EVs over conventional petrol vehicles. The platform will be supported by the LHINU token- an ERC-20 utility asset with a capped supply. A further 10% will be held back to support future developments, provide liquidity and reward platform users. The crypto space has been successful in providing many ways to earn money through participating in various platforms and ecosystem. Love Hate Inu is the newest addition that rewards users for voting in pools about trending issues and topics.

How to Choose the Best Cryptocurrency Trading Platform for You

However, USDT remains one of the most widely used stablecoins in the cryptocurrency market. People worldwide look to invest in cryptocurrencies as the latest popular asset class. Cryptocurrencies have shown exponential growth over the past few years, outpacing other asset classes, making them a popular choice for investors seeking quick gains.

• It is important to note that not all trading platforms have the resources to hire a full-time customer service team.
• Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology.
• There are a number of ways you can fund your Independent Reserve account for free including bank transfers, however, OSKO and PayID will complete the transaction near-instantly.
• The software is designed for anyone who wants to do trading in cryptocurrency and earn profits daily.

This exchange has over 660,000 customers and a 4.7/5 rating on Trustpilot. Swyftx says it is one of Australia’s most trusted crypto exchanges and has an official deal with AUD withdrawals and deposits. In general, crypto exchanges have a history of unresolved hacker attacks resulting in permanent losses of millions of dollars. That’s why you’ll need to consider the total cost and find something that is worth the money. For example, some exchanges may not charge for deposits but do incur trading fees much higher than the industry standard.

What is the safest crypto exchange in Australia?

These include futures contracts, inverse 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 and experienced 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 that are familiar with derivatives trading. Swyftx is an AUSTRAC-registered Australian cryptocurrency trading platform that is registered with the financially regulated ASIC.

• Overall, eToro is considered to be the best trading platform for beginner’s in Australia.
• 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.
• However, just because an exchange is based in Australia does not necessarily mean it offers greater protection—Brisbane-based Digital Surge, for example, collapsed due to its exposure to FTX.
• Swyftx says it is one of Australia’s most trusted crypto exchanges and has an official deal with AUD withdrawals and deposits.

Binance is also a good option if you are interested in investing in altcoins, such as Shiba Inu, IOTA, Dash Coin, and Monero, or if you want to invest in the best crypto to buy. Moreover, Binance offers very competitive trading fees and top-notch rates on crypto savings accounts, making it stand out. For example, the fees start at 0.10%, which means that a $1,000 order may cost you $1. First-time crypto traders will benefit from this since it is a great way to learn about this industry.

eToro: Australia’s Leading Social Trading Platform

There have been an increasing number of cryptocurrency exchanges come online in recent years, but which ones are the best? In Australia, there are a variety of exchanges you could use but to help make your choice easier, here is a guide on what we think are the top 10 Bitcoin trading sites in Australia. The tracking depends on the information that the exchanges provide to the authorities. This means that they must collect and verify the identity of their customers. Yes, crypto exchanges are legal in Australia as long as they comply with the relevant laws and regulations.

• In addition, direct debit card transactions include the trading commission since these are direct purchases.
• Debit/credit cards, e-wallets, and bank transfers are all acceptable ways to fund your account.
• Bitcoin mining, for example, has slowed over the years, and the rate at which it can be mined has also decreased.

I have done multiple transactions of small to high value and have been very ha… Stay up to date on the latest news and trends in the market by accessing real-time news from numerous publications. Our Australian-based support team are here to answer all your question and help you navigate the Swyftx platform. Swyftx is an AUSTRAC registered digital currency exchange headquartered in Brisbane, Australia. You won’t have to pay a fee if you deposit in USD if you’re a US citizen. You will likely lose money with your crypto robot, so starting with a demo account is best.

#4. Coinstash – Best for buying/selling DeFi coins

The trading platform is ideally made for day traders and more focused on avid traders making it hard for beginners to understand. Kucoin became a renowned name in Asia and in 2018, it decided to expand in Australia. If we believe the current statistics, Kucoin is the top trading platform for Australian completely margin traders. Kucoin users in Australia have access to more than 110 coins for trading. Margin contracts are a great option for you to hedge positions against market volatility because they can be settled in USD or USDT. It has features for a better user experience that are beginner-friendly.

• In addition to leverage, fees, and other features are also competitive factors for platforms that undergo continuous revision.
• With the exchange, users can instantly buy cryptocurrencies with a credit card or debit card, there are no deposit fees for BPAY and PayID, and there are low trading fees.
• For example, UK stocks can be traded from just 0.10%, while US stocks cost $0.02 per share CFD.
• They started as a crypto-to-crypto only exchange but now accept over 20 different fiat currencies, which is always a plus if you ask me.

There are a variety of trading platforms available at ANZ, which makes it unique. Standard trading at ANZ enables long-term investors to access charts, market news, watchlists, etc. In addition to Morningstar’s dynamic stock data and quantitative analysis, the Pro trading platform offers advanced features for active traders.

yPredict ($YPRED) – Top-Rated Utility Token of AI Integrated Trading Platform

KuCoin is an extremely popular exchange around the world, with over 20 million users, and this is because it offers so much to advanced crypto traders. A massive range of 700+ coins, low trading fees of 0.1%, and plenty of markets and trading options, such as – spot trading, margin trading, futures, and P2P marketplace. Bybit takes the title of the #1 best crypto exchange in Australia, and the main reasons are because it has low fees, a wide range of 280+ cryptocurrencies, and numerous trading options available.

• Any exchanges we list on our pages should be diligently researched, we list exchanges based on public information at the time.
• Usually, you can trade coins, bitcoin ETFs, and other crypto-based products on multi-asset OTC trading platforms.
• Some of Australia’s top-rated and trusted exchanges are Swyftx, CoinSpot, Binance, Bybit, Crypto.com, and Coinjar.
• In terms of security, you should know that the platform takes great care to secure your account using 2FA and breached password detection, on top of frequent penetration testing done by experts.
• Some have higher fees, lower security, fewer features, or poor customer service.
• Depositing cash or transferring digital assets (besides ETH) from an external wallet and into your Kraken wallet will incur zero fees.

In addition, the fact that eToro offers automated crypto trading tools makes it stand out to us. Furthermore, there are no ongoing fees, so you can keep your crypto investment for as long as you like. EToro offers a CFD trading facility for crypto coins along with the ability to buy and sell digital coins outright. Kraken offers a separate process for margin trading, making it the most unique trading platform. However, all this doesn’t mean they compromise any of the standard features.

Best Crypto Exchange in Australia FAQs:

Launchpad XYZ is a new Web3 platform created to be the home of digital assets. It is hosted on the Ethereum blockchain, integrating features that include an NFT decentralized exchange (DEX), decentralized assets, and a crypto marketplace, amongst others. The impressive features of this platform make it an “everything in one place” space. True to this, after a successful presale that recorded 17 million in sales, $WSM is currently listed on some of the world’s major cryptocurrency exchange platforms.

• In addition, Binance rewards new users with a bonus of up to $100 for free using a referral code for Binance.
• Some trading platforms in Australia will also charge you an annual maintenance fee when you make traditional investments.
• Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.
• Additionally, the general public has become more aware of the benefits cryptocurrencies offer, making them a more attractive investment and a speculative asset.

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 low trading fees to provide liquidity. 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%). 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. Binance Australia allows investors to instantly deposit and withdraw using AUD via PayID/Osko (NPP payments), which is supported by over 100 Australian banks and financial institutions.

Best Crypto To Buy in Australia – List

EToro, for example, offers trading guides and videos, as well as podcasts, webinars, and social trading features. EToro’s ‘Facebook-like’ platform allows you to communicate with other traders. The best cryptocurrency trading platforms provide fundamental and technical analysis tools in research. The majority of first-time cryptocurrency investors invest for the long term. Therefore, it is best to choose a trading platform that offers sophisticated tools if you are a day trader or swing trader. Leverage is available on cryptocurrency exchanges such as eToro and Kraken.

The order books and order panels are neatly laid out in a crisp and modern fashion that is visually pleasing and provides a high degree of functionality. The best crypto exchanges should be compliant and 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.