12 Best Crypto Exchanges in Australia 2024
Best Crypto Exchange in Australia 2024 - Coinbase
In this guide, the experts at Traders Union will break down twelve of the best cryptocurrency exchanges found in Australia. For each exchange mentioned, we'll explain the various commission fees offered, whether or not the exchange accepts AUD, the types of crypto offered, and the features and tools offered. We'll also explore the legality of cryptocurrency in Australia, how to choose the best crypto exchange, where to store your crypto, and where you can spend your crypto. If you want to know which crypto exchange Australia offers is the best, keep reading to explore our in-depth guide!
Start trading cryptocurrencies right now with Binance!Best Australian Crypto Exchanges
Each of the twelve entries on this list of the best Australian crypto exchanges are ranked based on a few points of criteria. Specifically, we looked into Australian crypto exchanges that accept clients from Australia, work under Australian laws, have decent commission fees, and offer a good selection of coins).
Our top picks include:
Coinbase
Binance
CoinSpot
Paxful
Bybit
Swyftx
eToro
BitMEX
Huobi Global
Kraken
Currency.com
Cryptohopper
Australian Crypto Exchanges Comparison
| Broker | Best For | Fees | AUD supported | Number of Coins | |
|---|---|---|---|---|---|
Altcoin Variety |
0% to 0.50% for purchases and trades |
No |
119 |
|
|
Altcoin Trading |
0.015% to 0.1% for purchases and trades |
Yes |
397 |
|
|
Quick Withdrawals |
Starts at 0.1% |
Yes |
290 |
||
Ease of Use |
1% for crypto transfers |
Yes |
3 |
|
|
Crypto Futures and Options |
0.075% taker fee and -0.025% maker fee |
Yes |
61 |
|
|
Low Instant Trading Fees |
0.6% trading fee |
Yes |
260 |
||
Copy and Social Trading |
0.6% trading fee |
Yes |
27 |
|
|
High Liquidity |
0.01% maker fee and 0.05% taker fee |
No |
9 |
|
|
Multiple Trading Platforms |
Average taker fee of 0.063% |
No |
355 |
|
|
Product Variety |
0.9% fee for purchasing stablecoins, 0% to 0.26% trading fee |
Yes |
98 |
|
|
Negative Balance Protection |
0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, 2.99% for credit card purchases |
Yes |
29 |
||
High-Level Analysis Tools |
$19 to $99 per month to use |
Yes |
75 |
|
Coinbase – Best Australian Crypto Exchange for Coin Variety
Coinbase is a crypto exchange that services customers and traders in Australia. This platform unfortunately does not support AUD, but does support USD, GBP, and EUR as base currencies. Coinbase is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include 0% to 0.50% for purchases and trades. A few features of this platform include access to tons of crypto, low account minimums, and a pretty intuitive user interface. There are a few advantages to using Coinbase, such as access to promotions and discounts when setting up a new account, as well as a strong digital asset framework. However, there are disadvantages, which include high fees and potential wait times for deposits to Australian bank accounts.
👍 Pros
• Offers promotions on a regular basis for crypto traders.
• Very low account minimum, so newbies can start trading right away.
• Lots of cryptocurrencies are available to trade.
• Crypto is actually ensured on the platform in the event of a site-wide hack.
👎 Cons
• Has higher fees than many of the platforms in this guide.
Binance – Best Crypto Exchange in Australia
Binance is a crypto exchange that services customers and traders in Australia. This platform supports AUD, as well as USD, EUR, CNY, INR, RUB, and other fiat currencies. Binance is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include 0.015% to 0.1% for purchases and trades. A few features of this platform include the option to reduce trading fees when investing in Binance Coin (BNB) and access to Binance Lite as a beginner. There are a few advantages to using Binance, such as a low flat trading fee, low overall fees, and access to the major coins. However, there are disadvantages, which include the fact that Australian users may have to deal with international bank fees and a lack of user-friendliness for beginners on the basic platform.
👍 Pros
• Offers fast fee-free fiat deposits as well as withdrawals.
• Offers very attractive staking and savings rates for users.
• Has excellent security and safety features to keep your crypto safe.
• Offers high-volume trading.
👎 Cons
• Doesn’t have a lot of altcoins available to trade.
• Isn’t very beginner-friendly, as there are a lot of features right from the box.
CoinSpot – Best Local Australian Crypto Exchange for Quick Withdrawals
CoinSpot is a crypto exchange that services customers and traders in Australia. This platform supports AUD, as well as over three hundred types of crypto. CoinSpot is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include trading fees that start at 0.1%. A few features of this platform include access to one of the most secure and trusted exchanges for crypto in Australia and an ultra-simple user interface that makes starting out easy. There are a few advantages to using CoinSpot, such as access to hundreds of cryptocurrencies that can be purchased with AUD and a wide range of supported deposit methods that go beyond bank transfers. However, there are disadvantages, which include a somewhat annoying weekly limit and sometimes long-winded deposit and withdrawal wait times.
👍 Pros
• One of Australia’s most popular exchanges for crypto with over 2 million users.
• Very well trusted, registered with the AUSTRAC, and has an ISO 27001 certificate.
• Offers a very wide range of cryptocurrencies.
• Cryptocurrencies are insured.
👎 Cons
• Has a weekly limit that goes up after a certain period of time and frequency of crypto purchases.
Paxful – Best Australian Crypto Exchange for Ease of Use
Paxful is a crypto exchange that services customers and traders in Australia. This platform supports AUD, as well as USD, VND, GBP, CNY, CAD, and more. Paxful is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include 1% for crypto transfers. A few features of this platform include a very user-friendly interface that is perfect for beginner traders and support for AUD base currency. There are a few advantages to using Paxful, such as a wide range of available payment options and the ability to live chat with users while doing trades, which could be beneficial for networking. However, there are disadvantages, which include very high fees and an extremely limited range of available coins.
👍 Pros
• Very easy to use as a beginner.
• Offers a wide range of payment options.
• Supports AUD.
• Makes it possible to live chat during trades.
👎 Cons
• Has very high fees.
• Only offers three types of crypto, which could be a problem for some traders.
ByBit – Best Australian Crypto Exchange for Crypto Futures and Options
ByBit is a crypto exchange that services customers and traders in Australia. This platform supports AUD, as well as BGN, BRL, CAD, CHF, COP, USD, and many more. ByBit is not currently regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include a 0.075% taker fee and -0.025% maker fee . A few features of this platform include high derivatives trading volume and great settled contracts. There are a few advantages to using ByBit, such as access to low-risk price manipulations, liquidations, and high bonuses. However, there are disadvantages, which include a lack of ASIC regulation and a limited number of pairs.
👍 Pros
• Is one of the top exchanges for high derivatives trading volume.
• Offer coin and USDT settled contracts.
• Offers fairly low-risk price manipulations as well as liquidations.
• Offers high bonuses.
👎 Cons
• Offers a fairly limited number of pairs available for trade.
• This platform is currently not regulated and may be a bit risky to use.
Swyftx – Best Australian Crypto Exchange for Low Instant Trading Fees
Swyftx is a crypto exchange that services customers and traders in Australia. This platform supports AUD, as well as NZD. Swyftx is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include a 0.6% trading fee. A few features of this platform include a fully-regulated platform, hundreds of available cryptocurrencies to trade with AUD, and relatively low fees and low spreads. There are a few advantages to using Swyftx, such as having multiple different ways to buy crypto and access to quite a few different tools for beginner traders. However, there are disadvantages, which include a lack of an order book to trade on and no margin trading services.
👍 Pros
• A very user-friendly platform with access to hundreds of different altcoins.
• Offers a unique and useful demo mode within regular accounts to practice trading without risking any capital.
• Offers the best value and usually offers free perks, coins, and discounts.
• Regulated by ASIC and registered with AUSTRAC.
👎 Cons
• Lacks an order book to trade on and only offers instant buying.
• Margin trading is not offered.
eToro – Best Australian Crypto Exchange For Copy and Social Trading
eToro is a crypto exchange that services customers and traders in Australia. This platform technically supports AUD, but the only account base currency available is USD. eToro Australia is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include a 0.6% trading fee. A few features of this platform include the ability to invest in crypto by buying direct or using CFDs and margin trading for crypto with 2x leverage. There are a few advantages to using eToro, such as access to CFDs, the ability to bet on falling crypto prices, crypto staking that can earn interest, copy trading and a top-notch demo account. However, there are disadvantages, which include the fact that the platform only operates in USD and charges conversion fees for AUD and crypto.
👍 Pros
• Offers free stock and ETF trading in addition to crypto trading.
• The account-opening process is incredibly simple and straightforward.
• Users can take advantage of some of the best copy trading and social trading in the industry.
• Ideal for beginners and advanced users alike.
👎 Cons
• Non-trading fees can get a bit pricey.
• You can use only one account base currency in USD.
• Customer support isn’t as good as other platforms.
BitMex – Best Australian Crypto Exchange for High Liquidity
BitMex is a crypto exchange that services customers and traders in Australia. This platform unfortunately does not support AUD, but does support a wide range of cryptocurrencies. BitMexis regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include a 0.01% maker fee and 0.05% taker fee. A few features of this platform include a great selection of crypto trading pairs and worldwide availability. There are a few advantages to using BitMex, such as free deposits and a great knowledge base. However, there are disadvantages, which include a lack of fiat currency support.
👍 Pros
• Offers a decent selection of trading pairs in crypto.
• Is available around the world with the exception of the U.S.
• Deposits are 100% free.
• Has a decent knowledge base and support platform.
👎 Cons
• Does not support any fiat currencies, including AUD.
Huobi Global – Best Australian Crypto Exchange for Multiple Trading Platforms
Huobi Global is a crypto exchange that services customers and traders in Australia. Unfortunately, this platform does not support fiat deposits and withdrawals, including AUD.. Huobi Global is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include an average taker fee of 0.063%. A few features of this platform include a great user-friendly dashboard and hundreds of tradable assets that go beyond crypto. There are a few advantages to using Huobi Global, such as the ability to use multiple trading platforms and margin trading. However, there are disadvantages, which include a lack of AUD support and withdrawal limits.
👍 Pros
• Offers a very sophisticated and user-friendly dashboard.
• Offers hundreds of tradable assets, including crypto.
• Operates on three different exchanges and trading platforms, so any device you have will be compatible.
• Offers leverage and margin trading to users.
👎 Cons
• Does not support AUD deposits and withdrawals, or any fiat currency for that matter.
• Registering for an account can be tedious.
• Withdrawal limits and margin leverage are notably low.
Kraken – Best Australian Crypto Exchange for Product Variety
Kraken is a crypto exchange that services customers and traders in Australia. This platform supports AUD, as well as SD, EUR, CAD, GBP, CHF, and JPY. Kraken is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include a 0.9% fee for purchasing stablecoins and 0% to 0.26% trading fee. A few features of this platform include a well-designed platform, access to staking, access to futures, and the ability to margin trade. There are a few advantages to using Kraken, such as a top-notch mobile app, tons of product variety, ultra-secure protocols, and excellent chat support. However, there are disadvantages, which include the fact that Kraken has some of the highest instant buy fees around, as well as a serious lack of educational materials on crypto.
👍 Pros
• Very user-friendly.
• Ideal for beginner traders.
• Offers low non-instant buy fees for users.
• Has a very robust trading platform and very large product selection.
👎 Cons
• Instant buy fees are some of the highest we’ve seen.
• Doesn’t offer much when it comes to educational materials.
• Charges withdrawal fees and has high minimums.
Currency.com - Best Australian Crypto Exchange for Negative Balance Protection
Currency.com is a crypto exchange that services customers and traders in Australia. This platform supports AUD, as well as USD, EUR, RUB, and BNY. Currency.com is regulated by the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, and 2.99% for credit card purchases. A few features of this platform include a wide range of assets and easy-to-read trading charts. There are a few advantages to using Currency.com, such as real-time spot trading and the ability to deposit AUD. However, there are disadvantages, which include limited regulatory oversight and minimum withdrawal limits.
👍 Pros
• Offers a very diverse range of asset classes.
• Offers excellent and very useful trading charts.
• Users can engage in real-time spot transactions.
• Users can deposit a wide range of fiat currencies and crypto, including AUD.
👎 Cons
• Offers very limited regulatory oversight.
• Crypto traders will have to deal with minimum withdrawal limits.
• Assets cannot be borrowed, lent, or staked.
CryptoHopper – Best Australian Crypto Exchange for High-Level Analysis Tools
CryptoHopper isn’t exactly a crypto exchange, but it is an automated trading bot tool that services customers and traders in Australia. This platform supports AUD, as well as USD, EUR, and more. CryptoHopper is compliant with, though not regulated by, the Australian Securities and Investments Commission (ASIC). Some fees associated with this crypto exchange include its monthly fee to use the platform, which ranges from $19 to $99 per month. A few features of this platform include a user-friendly interface, the ability to set up trading bots with no coding experience, and some of the best educational tools around. There are a few advantages to using CryptoHopper, such as the ability to automatically trade crypto and make profits using a variety of tools offered by the platform. However, there are disadvantages, which include expensive signals and a Software as a Service pricing model, which can get a bit pricey when compared to your typical crypto exchange.
👍 Pros
• Extremely easy to set up and configure, even for those who are not tech-savvy.
• Offers excellent educational tools for beginners.
• Offers excellent support for coins and exchange.
• Tons of features that are easy to implement.
👎 Cons
• If you want to use signals, you’ll have to pay extra.
• Uses an SaaS pricing model, which may not be suitable for some traders.
Is Crypto Legal in Australia?
Cryptocurrency is completely legal in the country of Australia. Crypto is included in the list of currencies that are under the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006. Bitcoin and other altcoins are subject to Capital Gains Tax. Crypto exchanges that operate in Australia or provide crypto access to users in Australia must register with AUSTRAC and comply with AML/CTF 2006 Part 6A Digital Currency Exchange Register. The Australian Securities and Investments Commission (ASIC) regulates crypto exchanges.
It’s worth noting that even though crypto is legal in Australia, it has not yet become a fully-fledged alternative to the Australian dollar.
How to Choose the Best Crypto Exchange in Australia?
Finding the right crypto exchange in Australia is fairly simple. You can simply choose one of the twelve exchanges we’ve mentioned in this guide, or you can follow these easy steps:
-
1
Consider if the exchange accepts Australian customers?
-
2
Is the exchange regulated and in compliance with the Australian Securities and Investments Commission (ASIC)?
-
3
Does the exchange have support for the Australian dollar? Can one make deposits and withdrawals in AUD?
-
4
What are the methods of deposit and withdrawal? Is it fairly easy and fast to do?
-
5
What choice of assets are available? If you’re fine with basic coins like Bitcoin, Ethereum, Litecoin, Ripple then this isn’t an issue. However, if you want a very diverse portfolio of coins, then look for exchanges that offer 100+ different assets.
-
6
Conduct an evaluation of commissions and functions. What are the fees like? Is it more expensive than other exchanges?
Where to Store Crypto in Australia?
In general, there are two ways to store cryptocurrency. One will either store their crypto in a hot wallet or a cold wallet.
A hot wallet is a type of “live” wallet. Hot wallets are usually offered by Australian crypto exchanges and can be accessed in real-time for trading. However, hot wallets are at a higher risk for fraud and hacking, as they are live on your network.
We would recommend storing your crypto in a cold wallet instead. A cold wallet is a type of offline storage wallet that keeps your crypto offline and securely protected in cold storage. If you plan on purchasing and holding crypto, a cold wallet is the right choice to make. However, if you want instant trading access or plan to engage in day trading, a hot wallet may be a better choice for your crypto.
Where Can I Use Crypto in Australia?
There are a growing number of places in Australia where one can use cryptocurrency like Bitcoin to make real-life purchases of goods and services. Various types of restaurants, cafes, and bars in Australia accept Bitcoin payments, especially places in Sydney and Melbourne. There are also a number of medical services, fitness centers, fashion shops, hotels, and other industries that accept crypto payments. Online, one can spend their Bitcoin at Microsoft, Amazon, eGifter, and a number of other stores.
Is Crypto a Good Investment?
Investing in crypto can be risky, as cryptocurrency is quite volatile. However, there is the opportunity to make some pretty serious profits from cryptocurrency investments. Crypto could be a good investment if you would like to gain exposure to the demand for digital currency. However, if you have a low risk tolerance but want to still be part of the crypto wave, we would recommend investing in stocks for any of the twelve crypto brokers we’ve mentioned in this guide. This would yield fewer returns, but the risk is significantly less intense.
Can I Buy Something with Bitcoin?
Yes! There are plenty of places online and in physical Australian stores that offer Bitcoin payments for goods and services. More and more companies are opting to accept Bitcoin payments.
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Summary
There are so many great crypto exchanges out there for Australian traders. Any of the twelve we’ve mentioned would be worth looking into, but we would recommend Binance for its user-friendliness and access to a wide range of crypto.
FAQs
How can I choose the best crypto exchange to purchase coins?
In general, we recommend following this process: Look at reviews to see how reliable the platform is, look at the number of assets, determine whether or not the exchange supports fiat currencies like AUD, and look for the availability of a P2P exchange. Or, alternatively, you can choose any of the Australian exchanges we’ve mentioned in this guide.
How can I start trading on crypto exchanges?
It’s quite easy. To start, you’ll need to register an account with a platform. In Australia, crypto exchanges must implement a verification process to ensure there are no issues with fraud. You’ll need a form of identification and some personal information to give the exchange, and the verification process can take a few days. From there, you can just look for the crypto you want to buy, fund your account with AUD, make a purchase, and sell the coins whenever you feel like it.
What are some best practices for trading crypto?
Always conduct a risk assessment to see just how much capital you are willing to risk. Crypto is very volatile and risky, and the last thing you want is to lose money that you do not have. Exit when conditions are bad, but also be patient and look for the right trading signals to sell. You’ll also need to learn to control the order book with your list of quotes. Always be learning, researching, and studying.
Is it difficult to trade large amounts of crypto on exchanges?
Unfortunately, yes. It is difficult to trade large volumes of crypto on crypto exchange, because other traders tend to find orders and sell their coins as the market conditions trade. We recommend dividing your application into a number of small orders that do not exceed 0.5 BTC (or your altcoin of choice). You can always leave a trade by canceling to total order and placing a new one to sell your coins when market conditions are not favorable.
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Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.