Best Cryptocurrency Exchanges in Australia

Dominic Harper // April 30 // 0 Comments

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 a platform 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.

The Best Cryptocurrency Exchanges in Australia - Tested and Reviewed in 2022

From our extensive testing and research, here are the top crypto exchanges for Australians to use, updated for 2022. We regularly review these exchanges and update our articles to give you the most accurate, up-to-date information. We are the first to list new features or coins that are made available on any of these crypto exchanges.

  1. 1
    CoinSpot - Best overall in Australia
  2. 2
     Swyftx - Best for Demo Mode
  3. 3
     Digital Surge - Best for Low Spreads
  4. 4
     eToro Australia - Best for Copy Trading
  5. 5
     Binance Australia - Best for Serious Trading
  6. 6
     Independent Reserve - Best for Crypto Insurance
  7. 7
     Kraken - Runner-up for Security
  8. 8
     Easy Crypto Australia - Best for Quick Purchases
  9. 9
     Coinstash - Best for Easy Staking
  10. 10
     Elbaite - Best for P2P Trading
  11. 11
     Cointree - Best for User-Friendliness
  12. 12
     CoinJar - Alternative Australian Exchange

Best Crypto Exchanges in Australia - Reviews

CoinSpot – Best Overall:

CoinSpot is Australia's #1 cryptocurrency exchange, and has gained this title due to the trust and security it has gained since 2013. With over 2.5 million users, CoinSpot is Australia's largest crypto exchange, and holds ISO 27001 certification, making it the most audited crypto platform. It is regulated by AUSTRAC, registered with ASIC and is a certified member of Blockchain Australia. These are all points that show that CoinSpot is not going to disappear with users' funds as others have done over the past few years. You can deposit your money and trade crypto without fear that your hard-earned money will be lost or stolen.

CoinSpot offers one of the largest selection of coins (360+) to purchase with AUD. There are three different ways to purchase crypto on CoinSpot: 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 for just 0.1% and is the recommended option for large transactions. 

CoinSpot offers staking on 22 different coins, which is not found on many Australian exchanges. This is an excellent way for investors to make their crypto work for them while they hold them for the long term. The annualised returns (APY) on the coins can be quite high, and well into double digits.

CoinSpot has a comprehensive NFT marketplace where you can find many popular collections, including the famous Bored Ape Yacht Club. A unique feature about CoinSpot's NFT marketplace is the ability to purchase the NFTs using any cryptocurrency you like. This saves a lot of trouble as well as fees, as you don't need to worry about converting one cryptocurrency to another, just to make the NFT purchase.

CoinSpot does 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, and there is Live Chat support if you ever find yourself in trouble.

  • The most secure and trusted exchange in Australia
  • The simple registration process and an easy-to-use platform
  • Purchase over 360+ cryptocurrencies directly using AUD
  • Staking on 22 coins such as ADA, BNB, CRO, DOT, LUNA and SOL
  • Various deposit methods including bank transfer, cash deposit, PayID, and more
  • NFT Marketplace where you can purchase with any cryptocurrency

Other useful articles: CoinSpot reviewCoinSpot vs Swyftx, CoinSpot vs Binance, CoinSpot vs KuCoin, CoinSpot vs Coinbase, CoinSpot vs Crypto.com, CoinSpot vs CoinJar

Swyftx Exchange – Best for Demo Mode:

Swyftx is a simple 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 on the desktop site and mobile app. It has over 320 different cryptocurrencies that are available to buy and sell. With low fees of only 0.6% per trade, it’s easy to see why so many users love Swyftx. Not only are the fees low, but the spread is another factor that many investors forget to take into consideration. The spread is the difference between the buy and sell prices of a cryptocurrency. According to this in-depth test by leading Australian review site Marketplace Fairness, Swyftx came second with an average combined fee and spread of just 1.11%. Since Swyftx's trading fee is 0.6% the spread is just 0.51%. 

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. 

Swyftx also allows staking on 21 different cryptocurrencies, which is a way for investors to earn interest on their coins while they HODL. This is a relatively new feature on Swyftx, and sets it apart from other basic crypto exchanges without this functionality.

  • Brisbane-based and registered with AUSTRAC
  • Australian-based Live Chat customer support that you can use at any time you need
  • Over 320 cryptocurrencies available to purchase with AUD
  • Low combined fees and spreads (1.11%)
  • Range of different deposit options including credit & debit cards, bank transfers, PayID and more
  • Staking on 21 different cryptocurrencies

Other useful articles: Swyftx review, Swyftx vs CoinSpot, Swyftx vs Binance, Swyftx vs CoinJar, Swyftx vs Crypto.com

Digital Surge Exchange – Best for Low Spreads:

Digital Surge is the one of the top cryptocurrency exchanges for Australians, and it has achieved this ranking for several reasons. First, Digital Surge is very affordable, which is perfect for both new and advanced crypto traders. They have the lowest combined fees and spreads in Australian exchanges of just 0.71%. Since their trading fee is 0.5%, the spread on Digital Surge is only 0.21%. The spread is the difference between the buy and sell price of any cryptocurrency, and is like a hidden fee. If you are unfamiliar with the term 'spread', read this article to learn all about it. Many exchanges don't mention their spread, so you may not be aware of how much fees you are actually paying. Deposits and withdrawals of AUD on Digital Surge are also completely free, saving you more money, that you can invest in crypto.

Secondly, Digital Surge is an easy-to-use cryptocurrency exchange that anyone from a complete beginner to a seasoned trader can feel comfortable using. The interface is uncluttered and very intuitive, and there are instant buy/sell functions for over 300+ coins for beginners, and detailed graphs that experienced investors can appreciate.

Digital Surge is also an innovative crypto exchange, and they have included a new feature that is not found on most other platforms. They have made it possible to use your Bitcoin in your Digital Surge account to pay for any Australian bills or outstanding credit cards that accept BPAY. This is not only great for convenience, but is also a big step in making cryptocurrency mainstream in Australia. 

Digital Surge can be accessible using an internet browser or via the mobile app, and both are extremely easy to use. If you happen to run into any issues, you can contact customer support 24/7 via live chat or email, which is so helpful, particularly for those that are new to cryptocurrency.

Security is top-notch with Digital Surge, and it is an Australian exchange registered with AUSTRAC and ASIC, giving you peace of mind when it comes to trust and legitimacy of the platform. 

A small downside is that they do not currently offer staking on their cryptocurrencies, but hopefully they add this support in the near future. 

  • Use AUD to buy and sell over 300+ different cryptocurrencies
  • Lowest combined fees and spreads of all Australian exchanges (0.71%)
  • Very user-friendly and intuitive interface that is excellent for beginners
  • Free AUD deposits and withdrawals
  • Mobile app so you can trade anywhere, any time

Other useful articles: Digital Surge review, Digital Surge vs Swyftx

eToro Australia – Best for Copy Trading:

eToro is a broker that offers a variety of different trading instruments including 50 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 staking 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 50 coins to trade. However, they offer all of the most popular coins to investors. 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 50 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

Other useful articles: eToro review

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 ideal choice for beginners. They have a huge range of additional features such as P2P marketplace, margin trading, NFT marketplace and staking, which suit even the most advanced crypto investors.

Binance offers access to over 600 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 encounter issues when it comes to verifying your Australian ID, and their lack of customer service makes it impossible to resolve this issue. 

  • 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 600 cryptocurrencies, making it an ideal option for serious traders

Other useful articles: Binance Australia reviewBinance vs CoinSpot, Binance vs Swyftx

Independent Reserve Exchange – Best for Crypto Insurance:

Independent Reserve is an exchange based in Australia that has a very trusted record compared to some of its competitors. It even beats Swyftx, the second 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

Other useful articles: Independent Reserve review

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 19 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 100 cryptocurrencies with AUD instantly without depositing beforehand
  • 100% funds safety guarantee on every order

Coinstash – Best for Easy Staking:

Coinstash is a great cryptocurrency platform for beginners, with their ease of use, massive collection of more than 340+ coins, and an easy way to earn interest on their cryptocurrency holdings by staking. The customer service is top-tier, with responsive live chat available 7 days a week from 9am till 11pm. They have been around since 2017, and are registered with AUSTRAC, and control an AFS Licensee (Australian Financial Services Licensee) - one of the few Australian exchanges to do so.

Withdrawals and deposits of AUD is free of charge, and the trading fee is a reasonable 0.85%. For more experienced crypto traders, you will also enjoy using Coinstash with the advanced trading charts, complete with indicators and technical analysis tools. Accessing your crypto portfolio is made possible wherever you are with Coinstash's new iOS and Android apps, so you can keep an eye on any changes, and make any trades when you need.

  • Huge range of over 340+ cryptocurrencies
  • Easy to earn interest on cryptocurrency such as BTC, ETH, and AUD or USD stablecoins
  • Choose between simple or advanced trading charts
  • Quick buy and sell option to make it easy for newcomers to crypto
  • Industry leading security measures 

Other useful articles: Coinstash review

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 in mind, offering an interface that is very simple and easy to understand. The exchange supports over 280 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 280 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 50 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

Other useful articles: CoinJar review, CoinJar vs CoinSpot, CoinJar vs Swyftx

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About the Author: Dominic Harper

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.

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