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Cryptocurrency exchanges are popping up everywhere in Australia, but how do you know which one to use? You may have heard of Aussie crypto investors losing money to ACX crypto exchange, or another Aussie exchange MyCryptoWallet collapsing. You need to make sure you choose a reputable, safe and legitimate platform so your money is safe. In our review, we only list secure and trusted exchanges that we have tested out, so you can trade with peace of mind.
We also understand that individual investors have different needs, especially depending on how much experience you have with cryptocurrency. We have ranked our top exchanges in Australia by different categories, so you can find one that is suitable for you. All of these exchanges are free to sign up for, so you can always open an account and see if you like it, or even register with a few to decide which is best for you.
1. Digital Surge Exchange
2. Swyftx Exchange
3. Coinspot Exchange
4. eToro Australia Exchange
5. Binance Exchange
6. Independent Reserve Exchange
7. Kraken Exchange
8. Easy Crypto Exchange
9. Elbaite Exchange
10. Cointree Exchange
11. Coinjar Exchange
Digital Surge is the #1 cryptocurrency exchange for Australians, and they have earned that spot by designing their platform with everyday Australians in mind. It’s the perfect choice if you are thinking about getting into trading cryptocurrency. It is registered with ASIC and AUSTRAC, giving you peace of mind that it is safe and legitimate. This cryptocurrency exchange is based in Brisbane and has been slowly growing the services they offer. They now offer access to over 300 cryptocurrency options with the lowest trading fees and spreads, as shown in this real-world test. The trading fees are only 0.5% and can be reduced based on trading volume in the previous 30 days.
Digital Surge has certainly put the work in when it comes to creating a user interface that makes it as easy as possible for users to buy and sell cryptocurrency. It is a great option for beginners since it’s easy to understand what is going on at every step of the process. Live chat customer support is a welcome addition and is very responsive and helpful in our tests. The mobile app available on iOS and Android means you can trade whenever you like.
A unique feature that Digital Surge has, is the payment of BPAY bills using Bitcoin on your exchange. This is an interesting concept, as it slowly makes crypto purchases in the real world more of a reality.
1. Use AUD to buy and sell over 300 different cryptocurrencies
2. Lowest spread and fees of all Australian exchanges
3. The interface is intuitive and easy to get used to without a lot of learning involved
4. Mobile app included for trading on the go
Swyftx is a popular and trusted Australian cryptocurrency trading platform that is great for beginners with its demo mode, live chat customer support, and intuitive interface. There are over 310 different cryptocurrencies on offer and have inexpensive trading fees of just 0.6% per trade. Staking is now available as well on 16 different coins, so investors can earn interest on their cryptocurrency. These are all reasons why Swyftx has risen to the top of Australia's cryptocurrency exchanges.
When registering as a user, you will find that the process is very straightforward and quick, along with the process of verifying your account. If you are new to the cryptocurrency market, then you will enjoy the unique demo mode that is offered as an ideal way to get started with learning how to buy, sell, and trade cryptocurrency. Not many cryptocurrency exchanges have this feature, but it is such a valuable tool for those that are new to it all.
Depositing your money to the exchange is a free and instant process using bank transfer. You can also use a range of other free deposit methods including credit and debit cards, which are often not accepted at other exchanges. There is a flat rate trading fee of 0.6% for all transactions, and they have some of the lowest spreads in the Australian cryptocurrency market because they can access much larger international trading volume pools. Withdrawing fiat currency is easy and again free, making Swyftx one of the lowest fee exchanges in Australia.
Swyftx is a top choice for anyone looking to get started with cryptocurrency, but you can make up your mind after you create your free account.
1. AUSTRAC-registered and regulated, Brisbane-based exchange
2. Australian-based Live Chat customer support is available at any time
3. Over 310 cryptocurrencies available to purchase with AUD
4. Low spread and low fees of just 0.6% with no hidden costs
5. A variety of deposit options available for buying crypto
6. Staking is available on 12 different coins
CoinSpot entered the Australian cryptocurrency market in 2013, and they have continually grown their user base to over 2.5 million users. They are the only exchange in Australia to hold the ISO 27001 certification, which makes them the most audited and secure exchange for Aussies.
You can instantly buy or sell one of over 350 cryptocurrencies, which can all be purchased directly with AUD with a 1% transaction fee. You can also access a small range of coins on their market, which will only incur a 0.1% trading fee.
CoinSpot is a great option for beginners to consider because it has a user-friendly interface and live chat customer support in case you run into any issues. CoinSpot's large customer base along with the high level of security, including storing the majority of crypto assets in offline cold storage are good reasons to place your trust in this exchange.
1. The most trusted and secure cryptocurrency exchange in Australia
2. The platform is easy to use, with simple registration
3. Offers more than 350 cryptocurrencies to buy and sell
4. Several deposit methods are supported, including PayID, bank transfer, cash deposit, or BPAY
eToro is designed to be a social trading platform that allows you to interact with other users by commenting or posting on the News Feed. Another great feature of this platform is that it allows you to make automatic copies of the exact trades that the most successful crypto investors on the platform make.
Even though eToro is not an exchange dedicated to cryptocurrency, it offers a range of great features that allow it to keep up with the other exchange options. It also offers a demo account that is a great way for beginners to learn more without risking losing their money. With $100k in virtual money available on the demo account, you can start with practicing trading. The platform also offers crypto staking, and you can purchase crypto CFDs, which allows you to make money on the cryptocurrency price movements without buying any actual cryptocurrency.
eToro is limited in its range of coins, with only 30 of the most popular cryptocurrencies currently available on the platform. If you are looking to diversify your portfolio, you may need to choose one of the other exchanges with more coins on offer. eToro does not charge any commission on trades but the fees are all included in the reasonable spreads. There is a mobile app available for both Android and iOS, making it easy for you to trade wherever you like.
One downside of this platform is that it uses USD as the base currency, meaning that you will need to pay a fee for converting your AUD whenever you deposit or withdraw money.
1. Buy directly or use a CFD to invest in thirty popular cryptocurrencies
2. Bet on the price of crypto to rise or fall using CFDs
3. X2 leverage margin trade cryptocurrencies
4. Earn interest on your cryptos while holding them with crypto staking available
5. Get started with a demo account featuring $100k virtual money for risk-free trading practice
While it is not Australian, Binance Exchange is a popular option, as they offer a cool platform for trading over 600+ coins. They have extremely competitive fees of just 0.1% per trade and have a ton of services on offers such as margin trading, futures, p2p, and more. You can even use their exchange to stake over 70 different coins, so you can earn passive income on your crypto.
There is no charge for depositing AUD, even though this is not an Australian exchange. You can simply deposit with Osko or PayID and start trading immediately. If you are serious about trading crypto, Binance is highly recommended. They have very competitive fees and are compatible with a range of third-party trading bots if you want to automate your trading and maximize your profits.
On the downside, however, some users find that since Binance is not an Australian company, they occasionally run into issues with depositing from Australian banks or verifying an Australian-issued ID.
1. Flat fee of 0.1% only when trading
2. Use Binance Coin (BNB) to reduce your trading fees even further
3. Binance Lite is a simpler version of the platform that is more beginner-friendly
4. With access to more than 600 coins and low fees, it is an ideal option for serious traders
Independent Reserve Exchange
Independent Reserve is an Australian exchange with a trusted record, even beating Swyftx in a range of areas. First of all, the trading fees charged by this exchange are just 0.5%, and if you are a large investor, you can reduce your trading fees based on the volume of the trades. Fees are reduced when you trade $100k or upwards per month. If you’re a very high investor trading $20m or more per month, the fees drop to a very low 0.02%.
Along with this, Independent Reserve is also the only crypto exchange in Australia to offer insurance for cryptocurrency assets that cover up to $5m. They also offer KPMG-powered tax reports, which makes tax reporting easier for traders.
This exchange offers a great OTC desk, which is ideal for family offices, SMSFs, and large investors or businesses that want to execute trades of more than $100k. The exchange is highly recommended for anybody who is depositing and trading in large volumes.
On the downside, the exchange only supports 27 different cryptocurrencies. However, most of these are the most traded and trusted coins around the world.
1. Security is a top priority and insurance is offered for premium accounts
2. Offers 27 cryptocurrencies that you can begin trading at just 0.5% fees, which can be reduced as your trading volume increases
3. Range of features including instant deposits, tax reports, and automatic dollar-cost averaging
Kraken is a US-based exchange that has a high focus on security and is compliant with strict regulations to operate in the States. Aussie investors can also use Kraken, but can only access 19 coins against the Australian Dollar, which is quite limiting. However, if you only want access to the major coins, this is a great choice, because they also have great additional features such as staking, margin trading, and live chat support.
Kraken is considered to be one of the most secure cryptocurrency exchanges worldwide and they offer a great interface for advanced crypto trading. Their trading fees on the market are competitive: maker/trader fees of 0.16% and 0.26%. However, if you want to buy or sell instantly, the fee is a much higher 1.5% which is above the industry average in Australia.
1. A well-designed platform with access to margin trading, staking, and futures
2. Offers a mobile app for easy trading on the go
3. Live Chat with real customer service agents is available 24/7
4. The exchange is one of the best options for security as it is compliant with US regulation and places a high focus on security
Easy Crypto Australia is an ideal exchange to consider if you want to be able to purchase crypto immediately. Unlike its competitors, this exchange does not hold either your fiat or cryptocurrency assets on the exchange. Whenever you want to buy a coin, you will do this using a purchase screen where you pay directly from your bank, similar to online shopping. Because of this, the need to deposit before buying is eliminated. You will need to have your crypto-wallet before you can use this platform.
Since your crypto is sent straight to your wallet, it is never held on the exchange, and your funds are never at risk, even if the exchange is hacked. Easy Crypto also provides a 100% funds guarantee on all orders, giving you more peace of mind when investing and trading.
1. Nothing is stored online on the exchange, giving you more control over your assets
2. Option to instantly buy crypto with AUD without needing to make a deposit first
3. Every order has a 100% funds safety guarantee
4. Fees are transparent and there are no hidden costs
If you want to buy and sell cryptocurrency peer-to-peer (P2P), Elbaite is the best exchange to consider. There are no fees for sellers and a fairly low fee of 1% for buyers. It is a non-custodial marketplace where you will buy and sell crypto from other traders directly from one crypto wallet to another. Because of this, the coins are always of the exchange and in your wallet, reducing the risk of losing them in the event of a cyberattack on the exchange. It is a safer way to transact in cryptocurrency for this reason.
An escrow account is used to hold the payment until the Blockchain verifies that your purchased coins have arrived in your wallet, to reduce the risk of theft. Because of this, buyers can be sure that they will always receive their crypto and sellers will always receive their payment, without any risk.
Elbaite is a great trading platform for large volume traders that prioritize safety and security and want to stay in as much control as possible when it comes to their assets.
1. Zero fees for sellers along with no hidden costs or commission
2. No funds are stored on the P2P exchange which provides you with more control over your assets
3. The escrow account makes sure that all transactions are fulfilled
4. Your personal information is not shared with other users
Cointree is one of the easiest cryptocurrency exchanges to use, perfect for complete beginners to the crypto market. The interface is very basic, easy to understand, and easy to use. Along with supporting Bitcoin, the exchange also has over 280 different altcoins, and there is a coin-to-coin trading feature that is not available on every exchange. You can even pay any of your BPAY bills using Bitcoin stored in your Cointree account. This is a no-frills exchange that only offers minimal functionality, but ensures that beginners will not get confused on the platform.
1. Very simple and easy to use interface that makes it ideal for beginners
2. Supports more than 280 cryptocurrencies
3. Allows you to use the cryptocurrency in your Cointree account to pay BPAY bills easily
4. Finalist for best digital currency exchange at the Australian Blockchain Industry Awards
Coinjar is an exchange that allows for every payment method possible, whether you want to pay with a debit card, credit card, bank transfer, or even cash. If you want to start trading crypto as quickly as possible, you can take advantage of the instant deposit option.
This exchange is an average option that allows you to deposit in either AUD or GBP, however, you can only buy or sell 50 cryptocurrencies. It offers competitive fees from 0.1%-0.25% and has an in-house Australian support team.
1. based in Australia so no need to worry about international transaction fees
2. Coinjar Swipe debit card allows you to easily convert cryptos to cash when paying or using ATMs that accepts EFTPOS
3. Wide range of deposit payment methods available including bank transfer, BPAY, PayID, and cash
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