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 2023
From our extensive testing and research, here are the top crypto exchanges for Australians to use, updated for 2023. 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.
- 1Bybit - Best Crypto Exchange Overall in Australia
- 2CoinSpot - Best for Security
- 3Swyftx - Best for Demo Mode
- 4Crypto.com - Best for Beginners
- 5MEXC Global - Best for Advanced Traders
- 6Binance Australia - Best for Serious Trading
- 7KuCoin - Massive Range of More Than 700 coins
- 8eToro Australia - Best for Copy Trading
- 9CoinJar - Spend Your Crypto Using CoinJar Card
- 10Independent Reserve - Best for Crypto Insurance
Best Crypto Exchanges in Australia - Reviews
#1. Bybit Exchange – Best Overall in Australia:
FREE $10 BITCOIN when you sign up with this link
Bybit is the #1 crypto exchange in Australia, and is the best option for those who are looking to make a lot of trades. Day traders, margin traders, and derivatives traders will find Bybit filled with trading options and tools that meet their needs. If you simply want to buy some crypto and hold it as a long-term investment, that is also possible, with Visa, Mastercard and Apple Pay as supported payment methods.
Bybit is an extremely reliable exchange, with more than 10 million customers, and high daily trading volume of more than $10 billion. Bybit has deep liquidity, 99.99% system functionality, and rapid trade speed of 100,000 trades/second, which is attractive to many Australian crypto traders.
Bybit offers a respectable range of 280+ coins that you can trade, with spot trading and derivatives trading available. The derivatives markets offers are USDT Perpetual contracts, Inverse Perpetual contracts, and Inverse Futures contracts. The low fees are another extremely attractive feature of this exchange, with spot trading fees of 0.1%, and derivatives trading fees much lower, at 0.01% for makers and 0.06% for takers.
Those that are familiar with margin trading will enjoy Bybit's 100x leverage, which makes it possible to reap higher rewards from even small changes in the market. It is necessary to remind readers that margin trading is not for those who are new to trading, since there are very high risks involved, and a small change in the market can result in large losses. Margin trading is only for experienced traders who fully understand the risks and the market.
Bybit has an excellent testnet (demo mode), which mirrors the actual site. This is a great playground for both new and experienced traders to test their strategies using play money. This is an extremely valuable learning tool that helps Bybit set itself apart from other exchanges who do not have this feature.
The platform has a responsive Live Chat support team that can be contacted 24/7, so you never have to worry about being out of contact for days while you wait for a slow email reply to your query. Bybit also has an insurance fund to protect traders from negative equity and being held accountable for excessive loss.
- The best choice for frequent crypto traders, with rapid trade speed and 99.99% system functionality
- Lowest trading fees - spot trading: 0.1%, derivatives: 0.01% / 0.06% (maker/taker)
- More than 280+ cryptocurrencies on offer
- 24/7 Live Chat support on hand
- Testnet platform (demo mode) so you can try trading using play money
- Margin trading with high leverage (up to 100x)
Other useful articles: Bybit review, Best margin trading exchanges, Best crypto futures exchanges
#2. CoinSpot – Most Secure and Trusted Exchange:
FREE $20 BITCOIN if you sign up with this link
CoinSpot is Australia's safest exchange, and this is due to the trust and security it has built 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 (370+) 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 21 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 great 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
- FREE $20 Bitcoin when you sign up with this link
- Customisable security features such as 2FA, geo-lock logins, session timeout and more
- 24/7 Live Chat support so you can talk to a real person any time you need help
- Purchase over 370+ cryptocurrencies directly using AUD
- Earn crypto interest on 21 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 review, CoinSpot vs Swyftx, CoinSpot vs Binance, CoinSpot vs KuCoin, CoinSpot vs Coinbase, CoinSpot vs Crypto.com, CoinSpot vs CoinJar
#3. Swyftx Exchange – Best for Demo Mode:
FREE $20 BITCOIN if you sign up with this link
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. In fact, Swyftx is one of Australia's best mobile crypto apps.
There are more than 320 different cryptocurrencies 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 tight, which is a 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.
- Brisbane-based and registered with AUSTRAC
- Free $20 Bitcoin just for signing up with this link, no deposit required
- 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
Other useful articles: Swyftx review, Swyftx vs CoinSpot, Swyftx vs Binance, Swyftx vs CoinJar, Swyftx vs Crypto.com
#4. Crypto.com App – Best for Beginners:
Crypto.com is our top choice for those just starting out with cryptocurrency, because it is so simple to use, and extremely convenient as well, accessible straight from the mobile phone app. There are more than 250+ cryptocurrencies that can be instantly purchased or sold, and the price shown for each coin in the app is the actual price you will pay. There are no trading fees associated with buying or selling crypto, because the fees are already included in the spread. This makes it easy to know exactly what you are getting for your money.
There is plenty of support available for newcomers, with useful educational articles, the latest crypto news, and even live chat so you can receive assistance from a helpful team member.
If you already have some knowledge of crypto, you will find plenty of features that excite you, for example there are various options to earn interest or new coins by staking your cryptocurrency, or an NFT marketplace where you can browse and purchase the latest digital artwork. Crypto.com even has a debit card powered by Visa, that lets you spend AUD and earn cryptocurrency as cashback on each purchase! To receive this free card, you simply have to stake at least $500 worth of CRO (Crypto.com's native coin) for 6 months. With the card you can earn up to 5% cashback (depending on your loyalty level), receive rebates on services such as Airbnb, Spotify, and Netflix, and gain complimentary airport lounge access.
- Excellent cryptocurrency app that is convenient and easy to use
- More than 250+ coins supported, and you can earn interest on 47 of them
- No commission when buying and selling
- Browse, purchase, and sell NFTs on the marketplace
- Free Visa debit card comes with a ton of benefits
- Crypto insurance cover of up to $750M
Other useful articles: Crypto.com review, Crypto.com vs Swyftx, Crypto.com vs CoinSpot
#5. MEXC Global – Best for Advanced Traders:
FREE $30 USDT and 10% off fees if you sign up with this link
MEXC is the best option for advanced cryptocurrency traders, who value a massive range of coins, various markets, and deep liquidity. On MEXC, you can spot trade, margin trade (with up to 125x leverage), derivatives trade, and access over 1,520 coins, and 2,114 trading pairs. You will be hard pressed to find any crypto trading platform that has a wider selection of coins than MEXC.
The trading fees are very low, at just 0.0/0.1% for spot trading, and 0.0/0.01% (maker/taker) for futures trading. If you sign up with our link, you also receive 10% discount on all your trading fees, plus $30 USDT for FREE. Besides regular trading, there is also copy trading supported on MEXC. For those who are unfamiliar with this term, it is a method of trading where you automatically make the exact same trades as a profitable investor of your choice. This is an excellent feature if you don't have time to conduct in-depth technical analysis of the market before making trades. Another useful feature is the free trading bots that are included in the exchange. You can set them up to your desired parameters and the trades will be conducted 24/7, even when you are offline or asleep.
MEXC boasts extremely deep liquidity, and has the highest levels of any crypto trading platform, including crypto giants such as Bybit, Binance, KuCoin, and Huobi. By looking at the liquidity graphs below for BTC/USDT and ETH/USDT, you will notice that MEXC is miles ahead of its closest competitor Bitget, and the remainder of the competition is almost irrelevant. This means that even if you are an extremely high volume trader, your orders can be fulfilled instantly.
- Massive range of 1,520+ coins and 2,114 trading pairs
- $30 FREE USDT and 10% off trading fees with our link
- Perfect for advanced and experienced crypto traders
- Spot trading, margin trading, derivatives trading
- Copy trading and free crypto trading bots included
- Low spot trading fee of 0.0/0.1% (maker/taker) and futures trading fee of 0.0/0.01% (maker/taker)
Other useful articles: MEXC Review, Best crypto margin trading platforms, Best crypto trading bots
#6. Binance Exchange – Best for Serious Trading:
Up to $100 Cashback Vouchers if you sign up with this link
Binance is one of the most well-known names in the world of crypto, and it has created a great platform for trading, particularly those who are interested in trading large volumes, and accessing various advanced tools. They have a huge range of additional features such as P2P marketplace, 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 0% for BTC and BUSD trades, and just 0.1%, for all other trading pairs. If you pay your fees using Binance Coin (BNB) the fees are discounted by 25% too. Binance also integrates well with a range of third-party trading bots, allowing you to easily automate your strategy.
If you are planning on signing up to Binance, be sure to take advantage of our unique welcome offer by clicking this link. You will receive up to $100 cashback vouchers based on your trading volume in the first week of usage.
- Low flat fees of 0% when trading BTC and BUSD, and 0.1% for other trades
- Pay with Binance Coin (BNB) - the exchange’s native cryptocurrency - to reduce trading fees by 25%
- Access Binance Lite, a more beginner-friendly, simpler version of the platform
- 24/7 Customer Service for Australian users
- Access to over 600 cryptocurrencies, making it an ideal option for serious traders
Other useful articles: Binance Australia review, Binance vs CoinSpot, Binance vs Swyftx,
#7. KuCoin – Best for Range of 700+ Coins:
KuCoin is a very popular crypto exchange, that is used by more than 11 million users around the world. It boasts a generous variety of 700+ cryptocurrencies, and a variety of markets that will suit all traders. Whether you want to spot trade, margin trade, derivatives trade, or use the P2P market, you will find something you like. Trading fees are low, at just 0.1% which can be discounted by 20% when you pay using KCS coin (their native token), as well as if you have large trading volume in the last 30 days.
One of KuCoin's best features is that they have FREE trading bots for their users: Spot Grid bot, Futures Grid bot, dCA bot, Infinity Grid bot, and Smart Rebalance bot. KuCoin offers some of the best crypto trading bots that you can find in Australia, yet it is free of charge, while others cost hundreds of dollars! When you use KuCoin's bots, you are able to stay ahead of market changes even while you are offline, including when you're asleep.
There are plenty of features not covered here, such as NFTs, crypto interest, crypto borrowing, and crypto lending. If you want to learn about everything KuCoin has to offer, read our review here.
- More than 700+ cryptocurrencies to trade
- Low trading fees of 0.1% which you can discount by 20% if you pay using KCS coin
- FREE crypto trading bots to automate your strategy
- Plenty of trading options, such as spot trading, margin trading, futures trading, and P2P market
Other useful articles: KuCoin review
#8. eToro Australia – Best for Copy Trading:
eToro is a broker that offers a variety of different trading instruments including 75 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 75 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 75 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
#9. CoinJar Exchange – Spend your crypto with CoinJar card:
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 Apple Pay/Google Pay, 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 users to access a free CoinJar card, powered by MasterCard. You can load it with any of the 50 cryptocurrencies in your account, then use it at any merchant that accepts EFTPOS. This is a great way of spending the profits you have made from crypto, without the hassle of selling it to AUD first.
The downside of CoinJar is that their trading fees are higher, at 0.1%, and the number of coins are limited, at only 50.
- 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
#10. 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