Cryptocurrency is becoming more and more popular throughout Australia, leading to a range of great exchanges to choose from. If you’re looking to buy or sell crypto, the first thing to do is choose an exchange that is legitimate and the best option for you. We’ve done all the research needed to make it easier for you to choose the right crypto exchange for your trading needs.
Swyftx Exchange – Best Overall:
Swyftx is a robust and well-built platform for crypto trading, so it’s no surprise that it’s one of the most popular amongst Australian crypto traders. It is ideal for both beginners and experienced traders with an intuitive design and a desktop site and mobile app that are very user-friendly. It has over 270 different cryptocurrencies that are available to buy and sell. With low fees of only 0.6% per trade, it’s easy to see why this is the number one cryptocurrency trading platform in Australia right now.
Swyftx offers an easy, fast and straightforward sign-up process and account verification process. They offer a unique demo setting that you can switch on or off at any time, which is ideal for those who are new to the crypto market and want to learn how to buy and sell crypto without using any real money. The platform offers an awesome user experience with tutorials, an extensive FAQ database, and a Live Chat support function.
Depositing to this exchange is instant and you can do this easily using bank transfer along with a range of other deposit methods including debit and credit cards. They charge a flat rate of 0.6% for all transactions, and unlike some competitors, there are no hidden fees or charges. Due to the fact that this exchange has access to large international pools of trading volume, they are able to achieve the lowest spreads in the Australian cryptocurrency market and pass the benefit onto their customers.
The platform offers a range of handy tools to make your crypto trading experience easy and seamless. The Price Alert feature is one such useful tool that will send you notifications when a coin reaches a certain price that you can set in advance, enabling you to take advantage of it at the best time. Swyftx also offer trading between cryptocurrencies.
Brisbane-based and registered with AUSTRAC
Australian-based Live Chat customer support that you can use at any time you need
Over 270 cryptocurrencies available to purchase with AUD
Low fees of 0.6% with no hidden costs
Range of different deposit options including credit and debit cards, bank transfers, PayID and more
CoinSpot Exchange – Best for Security:
CoinSpot took hold of the crypto market in Australia in 2013, and they have since become a firm favorite among Australian traders. Over the past eight years, CoinSpot has made records in the market including the most users, most external audits and most transactions. They are the only crypto exchange in Australia to hold the ISO 27001 certification, which backs up their claim of being the most secure and trustworthy option.
CoinSpot is an exchange that operates similarly to a broker. There is a wide selection of coins to choose from that you can purchase when you deposit AUD. There are three different ways to purchase the over 290 cryptocurrencies available including the Instant Buy option, which allows you to purchase directly from the exchange; Market Trade, where you can buy from sellers; or OTC Trades, where you can purchase over the counter and is the recommended option for large transactions.
CoinSpot offers a wide selection of cryptocurrencies, some of which are not listed anywhere else. However, they do have rather high trading fees compared to some of their competitors. For example, you will pay 1% of the transaction for an Instant Buy purchase, which is very high compared to their OTC or Market Trade options, where you’ll only pay 0.1%. While you can use Market Trade to avoid paying high fees, bear in mind that there is a limited selection of coins available using this option.
That being said, CoinSpot is a good option for those who are new to cryptocurrency since they offer a simple, easy-to-use dashboard. They ensure that users get a seamless and clutter-free experience.
- The most secure and trusted exchange in Australia
- The simple registration process and an easy-to-use platform
- Purchase over 290 cryptocurrencies directly using AUD
- Various deposit methods including bank transfer, cash deposit, PayID, and more
Digital Surge Exchange – Best for Low Fees:
Digital Surge is an Australian exchange designed with everyday people looking to get into crypto in mind. It is registered with AUSTRAC and ASIC, giving you peace of mind when it comes to the security and legitimacy of the exchange that you use. This exchange is based in Brisbane, and the service has been growing steadily, now offering access to over 270 cryptocurrencies which you can easily purchase using AUD.
One of the best things about this exchange is that they offer some of the lowest fees in the crypto market in Australia. The fees start at 0.5% and may go as low as 0.1% depending on the trade volume. Compared to fees at competing exchanges such as CoinSpot, this is a huge saving of around 50-90%.
Digital Surge offers an interface that is designed to make it as easy as possible for users to buy and sell, making it an ideal choice for beginners. Since it is based in Australia, it only supports AUD deposits. In addition, they offer a great feature that many competitors do not, which is the ability to pay bills using Bitcoin. It’s easy to set up and you can pay any credit card or Australian bill that accepts BPAY.
The exchange also offers a mobile app, making it seriously convenient for you to buy, sell and trade cryptocurrencies on the go.
- Use AUD to buy and sell over 270 different cryptocurrencies
- Lowest fees of all Australian exchanges from as low as 0.1%
- Very user-friendly and intuitive interface with not much learning required to use
Other useful articles: Digital Surge review
eToro Australia – Best for Copy Trading:
eToro is a broker that offers a variety of different trading instruments including cryptocurrencies. It has been built from the ground up as a social trading platform, which means that you are able to use it to interact with other users. You can do this easily by posting or commenting on the news feed, or even automatically copy the exact trades of some of the most successful traders on the platform.
While eToro is not an exchange that is dedicated solely to cryptocurrency, it does offer a lot of great features that make it worth considering. You can get started with a demo account that comes with $100,000 virtual money to practice trading if you are new to the crypto world. You can also access crypto stalking features and the ability to purchase crypto CFDs, allowing you to profit from crypto prices without the need to own the underlying assets.
Compared to other exchanges, the selection of cryptocurrencies offered here is quite slim, with only thirty of the most popular available to trade. However, they do not charge commission on trades and the spreads are reasonable with the fees included. A mobile app for Android and iOS is available allowing you to easily trade on the go.
One downside of this platform is that it operates in USD, so you will need to pay a fee for converting currency if you deposit and withdraw in AUD.
- Invest in thirty different cryptocurrencies by either buying directly or using a CFD
- Use CFD to bet on the price of crypto to fall or rise
- Earn interest on your cryptocurrencies with the crypto staking feature
- Demo account available so you can practice without using real money when you get started
Binance Exchange – Best for Serious Trading:
Binance is one of the most well-known names in the world of crypto, and it has created a great platform for trading, although it might not be the most ideal choice for beginners. In addition, another downside is that Binance is not Australian, although it does operate legally in the country.
Binance offers access to over three hundred different cryptocurrencies, and you can easily deposit AUD with no fees by using bank transfer or PayID. If you are serious about trading crypto, Binance is likely to be one of the best options for you. They offer seriously competitive fees at just 0.1%, and the platform integrates well with a range of third-party trading bots, allowing you to easily automate your strategy.
However, it is worth noting that since Binance is not an Australian company, you may be charged a fee by your bank when depositing or withdrawing money. Some Australian users have also had issues when it comes to verifying their Australia-issued ID.
Low flat fees of just 0.1% when trading crypto to crypto
Use Binance Coin (BNB), the exchange’s native cryptocurrency, to reduce your trading fees even further
Access Binance Lite, a more beginner-friendly, simpler version of the platform
Access to over 300 cryptocurrencies, making it an ideal option for serious traders
Independent Reserve Exchange – Best for Crypto Insurance:
Independent Reserve is an exchanged based in Australia that has a very trusted record compared to some of its competitors. It even beats Swyftx, the first one on the list, in various areas including lower trading fees of just 0.5%. If you are planning to invest large amounts in cryptocurrency, there is also the option to lower your trading fees based on trade volume. If you’re trading $100,000 or more monthly, the fees will begin to reduce.
In addition, Independent Reserve is the only cryptocurrency exchange in Australia that offers insurance on cryptocurrency assets covering up to the value of $5m. They also offer tax reporting features powered by KPMG to make this process easier.
The exchange is ideal for high-volume traders and as such has an excellent OTC desk, which is ideal for anybody wanting to execute large trades of more than $100,000. While the exchange only currently supports 27 different cryptocurrencies, most of these are in the top thirty coins that are traded and trusted worldwide.
Security is a priority and premium accounts get access to cryptocurrency insurance
Supports 27 cryptocurrencies that you can instantly start trading with a low fee of 0.5% that will drop based on trade volume
Automatic dollar-cost averaging tax reports powered by KPMG
Kraken Exchange – Runner-up Best for Security:
Since it provides many different services and a wide range of coins at low fees, Kraken is in some ways similar to Binance. However, there are also various areas where it differs including the fact that Kraken places a higher focus on security. There are also fewer coins offered on this exchange compared to Binance.
Kraken is US-based, so it has to comply with strict regulations, which is good for those looking for a very secure exchange. It is considered to be one of the most secure exchanges worldwide and provides an easy-to-use interface for advanced trading with very competitive fees. There is also the option to buy and sell cryptocurrency instantly with a fee of 1.5%. The platform offers a range of useful additional features including crypto staking, margin trading, and futures.
However, one side for Australian traders is that Kraken only allows you to trade sixteen cryptocurrencies against the AUD, which can be quite limiting. But this will not be an issue if you are planning to only trade the most popular coins.
A well-designed, easy to use platform with access to a range of features including margin trading, staking and futures
24/7 Live Chat support manned by real people
Mobile app is available allowing you to trade on the go
Highly focused on security and compliance with US regulations
Easy Crypto – Best for Quick Purchases:
Easy Crypto Australia is the best exchange for you if you want to buy cryptocurrencies instantly. It operates in a different way from most other exchanges since it does not hold any of your crypto or fiat assets. Instead, all you need to do is click ‘buy’ to purchase a coin and this will take you to a payment screen where you can send money directly from your bank, with no need to make a deposit first.
Once you have purchased cryptocurrency, it is then sent to your external crypto wallet rather than being stored on the exchange. This is ideal for traders who store their coins externally and want to ensure that they are kept as safe as possible in case the exchange is hacked or faces other issues. In addition, this exchange offers a 100% funds guarantee on every order, giving you more peace of mind when trading.
- Nothing is stored on the exchange, allowing you more control over your assets
- Transparent, clear fees with no hidden costs
- Buy cryptocurrencies with AUD instantly without depositing beforehand
- 100% funds safety guarantee on every order
Elbaite Exchange – Best for Peer-to-Peer Trading:
If you want to buy and sell cryptocurrencies peer-to-peer, Elbaite is an ideal choice of exchange. The fees are just 1% for buyers with no fees to pay if you are selling. It is a non-custodial P2P marketplace that allows users to buy and sell directly from one crypto wallet to another, with no risk of your digital assets being stolen if the exchange is hacked.
An escrow account is used by Elbaite to hold the payment until the Blockchain has verified that your coin purchase has arrived in your wallet, so buyers have peace of mind that they will always receive the crypto they buy, and sellers don’t need to worry about not receiving their fiat currency.
Elbaite is an ideal trading platform for large-volume traders who want somewhere that is secure, safe, and allows them to stay in control of their assets.
No fees for sellers, with no hidden costs or commission
No funds are stored on the P2P exchange, allowing you to stay in control of your assets
Personal info is not shared with other users
Escrow account ensures that transactions are completed
Cointree Exchange – Best for User-Friendliness:
If you are looking for an exchange that provides ease of use, Cointree is an ideal option. It is designed with complete beginners and minds, offering an interface that is very simple and easy to understand. The exchange supports over 160 altcoins and a trading coin-to-coin feature that is not available on all exchanges. You can also use the exchange to pay BPAY bills with any Bitcoin that is held in your Cointree account.
Perfect for newcomers with a very simple interface
Supports over 160 cryptocurrencies
Australian Blockchain Industry Awards 2019 finalist
BPAY bill-paying feature
CoinJar Exchange – Alternative to Consider:
Coinjar is an exchange that is worth considering for beginners as it’s easy to use. It also allows for every possible payment method when making your deposit, whether you want to use your credit or debit card, bank transfer, or even cash. You can also make an instant deposit which is an ideal feature for anybody who wants to get started with trading as quickly as possible.
Coinjar allows you to deposit in either AUD or GBP. On the downside, however, you can only access fifteen cryptocurrencies, but this may not be an issue for you if you want to trade the most popular ones. They offer competitive fees ranging from 0.1% to 0.25%, and there is an in-house Australian support team who are always available to help.
Australia-based so no need to pay currency exchange fees
Coinjar Swipe debit card allows you to pay with crypto anywhere that accepts EFTPOS
Wide range of deposit payment methods including cash payments