Best Crypto Exchange Australia in 2022

Adam Morris
— Last Updated on August 16, 2022

There are lots of options when it comes to Australian crypto exchanges (and more are popping up every month).

We’ve reviewed over 80 crypto exchanges over the past few years, looking at factors like supported currencies, fees, ease of use, security and more. You can rest assured that we’ve done the research to find the best crypto exchange!

Best Crypto Exchange in Australia

  1. Swyftx – Best crypto exchange overall ($20 BTC sign-up bonus)
  2. Coinspot – Best exchange for beginners
  3. Digital Surge – Best exchange for value
  4. CoinJar – Oldest Australian crypto exchange
  5. Binance – Best for day traders
  6. Independent Reserve – Best exchange for OTC purchases
  7. Coinbase – Biggest international crypto exchange for beginners
  8. Coinmama – International crypto broker with great payment options
  9. eToro – Best for CFD crypto trading
  10. Kraken – Best secure international exchange

ExchangeRatingCurrenciesCryptocurrenciesFees

Swyftx

5/5AUD / USD300+0.6%Go to Site

$20 BTC Sign-up Bonus

CoinSpot


AUDAUD300+1%Go to Site

Digital Surge


3.5/5AUD250+0.5%Go to Site
Featured On…
Exchange Website Rating Currencies Available Cryptocurrencies Fees Our Review Visit Site
5/5 AUD & USD 300+ Cryptocurrencies 0.6% Swyftx Review Go to Site

$20 BTC Sign-up Bonus
4/5 AUD 300+ Cryptocurrencies 1% CoinSpot Review Go to Site
3.5/5 AUD 250+ Cryptocurrencies 0.5% Digital Surge Review Go to Site
3/5 AUD 53 Cryptocurrencies Varies CoinJar Review Go to Site
3/5 42+ Currencies 400+ Cryptocurrencies 0.1% Binance Review Go to Site
3/5 AUD & NZD 13 Cryptocurrencies 0.5% Independent Reserve Review Go to Site
2.5/5 USD 30+ Cryptocurrencies 4% Coinbase Review Go to Site
2.5/5 USD & EUR 7 Cryptocurrencies 6% Coinmama Review Go to Site
2.5/5 EUR, GBP & USD 90+ Cryptocurrencies Daily Fees eToro Review Go to Site
2.5/5 USD & Others 50+ Cryptocurrencies 0.26% Kraken Review Go to Site
2.5/5 20+ Currencies 150+ Cryptocurrencies 0.1% KuCoin Review Go to Site
2/5 USD & Others 190+ Cryptocurrencies 0.2% Bittrex Review Visit Site
Disclaimer: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews or comparisons, you can learn more about our Affiliate Disclosure.

Best Australian Crypto Exchanges 2022 – Reviews 

1. Swyftx: Best overall

Looking at all the exchanges we’ve reviewed, Swyftx – an AUSTRAC-registered cryptocurrency exchange based in Milton, QLD – is by far the best crypto trading platform for local traders.

Swyftx Features

It’s really comforting to learn that there is a locally based exchange that offers over 200 cryptocurrencies that you can trade against AUD, USD, and BTC. This means that beginners don’t have to worry about exchanging fiat into crypto on other platforms anymore.

Another thing I liked about Swyftx is the transparent pricing system – the exchange has some of the most competitive fees in the industry. The trading fee is a nominal 0.6% and there are no fees on deposits and withdrawals. Compared to the industry average spread of 5.2%, Swyftx charges between 0.2% and 0.8%.

As a fully licensed exchange, Swyftx complies with AML and KYC policies. To reduce the length of the upfront KYC, the platform applies transaction monitoring programs, which is why I was able to finish the registration and verification process in just two minutes. By completing the KYC check, I was given a daily deposit limit of 20,000 AUD.

In terms of security, you should know that the platform takes great care to secure your account using 2FA and breached password detection, on top of frequent penetration testing done by experts.

At this point, I can safely say that no other cryptocurrency exchange in Australia offers the same quality when it comes to user experience as a whole, which is why our team wholeheartedly recommends Swyftx as the best Australian crypto exchange.

Pros:

  • Very user-friendly
  • Big range of cryptocurrencies
  • Fast verification process
  • Great mobile app
  • 24/7 live chat support

Cons:

  • Available only for Australia and New Zealand

Visit Swyftx

Related:

Swyftx Details

Swyftx logo
5/5

Features

  • 300+ cryptocurrencies supported
  • 100% Australian exchange
  • 4.8/5 Trustpilot score
  • Regulated by AUSTRAC
  • Instant AUD withdrawals
  • OTC and SMSF options
  • Earn up to 80% interest on crypto
  • Live Chat and Phone Support
  • Recurring orders
  • Demo mode available
  • Real-time price feed & API
  • Stop, On Trigger & Market Orders
  • Full tax reporting

Fees

  • Trading fees: 0.6%
  • Fiat deposit fees: $0
  • Fiat Withdrawal fees: $0
  • Crypto deposit fees: network fees
  • Crypto withdrawal fees: network fees
  • Spreads: 0.45%+

Visit Swyftx

2. CoinSpot: Best exchange for beginners

CoinSpot is another Australian cryptocurrency exchange launched in 2013. I know this trading platform as a common entry point for traders because of its easy-to-use interface aimed to attract both novices and experienced traders alike.

Coinspot site

After landing on the platform, I realized that it supports a wide range of cryptos, from the most prominent ones like Bitcoin and Ethereum to some lesser-known altcoins. The available deposit methods include POLi, PayID, BPAY, cash, or direct deposit/bank transfer. Moreover, it caught my eye that institutional traders are also welcome to use CoinSpot’s OTC desk for large-volume orders.

The only drawback I found to my entire CoinSpot experience is their fee schedule, as it incurs slightly higher commissions than the industry average. The transaction fees for buying, selling, and trading cryptocurrencies are all set at 1%. The same fee applies to stop-loss, buy-stop, and buy limit orders.

To register for an account, I had to provide the exchange with a photo of a government-issued ID and a scanned copy of a utility bill in order to prove my address. Finally, CoinSpot is renowned for its impeccable customer service thanks to its team’s high responsiveness to customer queries.

Pros:

  • Recurring buys
  • NFT platform
  • Easy to use
  • No withdrawal fees

Cons:

  • No advanced trading platform
  • Higher trading fees

Visit CoinSpot

Related:

CoinSpot Details

CoinSpot logo
4/5

Features

  • AUSTRAC registered
  • ISO 27001 accredited security standards
  • Supports 360+ cryptocurrencies
  • OTC trading available
  • Includes multicurrency wallet
  • User-friendly trading platform
  • Coinspot Bundles help diversify your portfolio
  • Free crypto staking
  • Great mobile app
  • 24/7 customer support via email or phone
  • Live chat support team
  • NFT marketplace

Fees

  • Trading fees: 0.6%
  • Fiat deposit fees: $0 (PayID, OSKO, or POLi) / 0.9% (BPAY) / 2.5% (Blueshyft)
  • Fiat Withdrawal fees: $0
  • Crypto deposit fees: $0
  • Crypto withdrawal fees: Network fees
  • Staking fees: $0

Visit CoinSpot

3. Digital Surge: Best for value

Established in 2017, Digital Surge is the newest Australian crypto exchange featured on our list and it was a real treat to check out its features from a closer perspective. They are based in Brisbane – led by IT experts Dan Rutter & Josh Lehman.

Digital Surge homepage

The first thing that grabbed my attention was the huge focus that Digital Surge puts on both customer support and ease of use, which really shines through on their platform. I must admit it’s a great exchange for beginners and advanced users alike.

The exchange supports POLi, OSKO, PayID and BPAY allowing you a wide range of deposit methods. They also have the Digital Surge Pay Wizard — a super-useful tool that allows Australians to settle bills and amenities with Bitcoin.

I found their fee system more suitable for large trades — the base fee for Digital Surge is 0.5% but this can go as low as 0.1% based on trading volume. However, I believe that, for most people, it will be the base fee. The minimum deposit amount is $20 and some payment methods take a fee between $2 and $3.30.

In conclusion, Digital Surge is a part of AUSTRAC and fully compliant with AML and CTF policies according to what I read on their official website.

Pros:

  • User-friendly
  • Pay bills with crypto
  • Competitive fees

Cons:

  • No credit cards supported

Visit Digital Surge

Related:

Digital Surge Details

Digital Surge logo
3.5/5

Features

  • AUSTRAC registered platform
  • Great mobile app with price alerts
  • Straightforward sign-up and verification process
  • Tighter spreads (~0.5%)
  • 300+ supported cryptocurrencies
  • Beginner-friendly exchange
  • Instantly buy and sell crypto with AUD
  • 23% APY with Digital Surge Earn
  • 24/7 email and live chat support
  • Pay monthly bills using bitcoin with Digital Surge Pay Wizard

Fees

  • Trading fees: 0.1% – 0.5%
  • Fiat deposit fees: $0 (PayID) / $2 – $3.30 (POLi)
  • Fiat Withdrawal fees: $0
  • Crypto deposit fees: $0
  • Crypto withdrawal fees: Network fees
  • Spreads: ~0.5%

Visit Digital Surge

4. CoinJar: Oldest Australian exchange

CoinJar was the first crypto exchange to be launched in Australia back in 2013. It’s impressive how they have stood the test of time and expanded overseas. The exchange was originally headquartered in Melbourne, Australia and then registered as a UK crypto exchange a year later.

So much has changed since the last time I visited CoinJar. Obviously, it has been at the forefront of many great technological advancements including the CoinJar card (powered by Mastercard) that allows you to spend your crypto like cash.

However, I’d like to point out that the exchange has a limited amount of cryptocurrencies it supports compared to some exchanges featured on this list but they allow a number of deposit methods including PayID, Blueshyft cash deposits (the only common exchange that supports this option) as well as regular bank transfers. When looking for a debit card payment, I found that they’re also accepted via the CoinJar Bundles feature.

CoinJar Bundles allows you to choose a bundle of cryptocurrencies that you can regularly buy to get exposure to a number of different cryptos. I’m sure it can be a great tool for beginners.

The pricing, however, didn’t surprise me — CoinJar has a flat fee of 1% for buy and sell orders but you can easily cut those fees down to 0.04% as your trading volume progresses.

Pros:

  • User-friendly
  • Bundles and recurring buys 
  • CoinJar Mastercard
  • CoinJar reward points

Cons:

  • Smaller range of cryptocurrencies

Visit CoinJar

Related: Full CoinJar Review

CoinJar Details

Coinjar logo
3/5

Features

  • AUSTRAC regulated exchange 
  • Quick verification time (less than 10 minutes)
  • Provides OTC trading 
  • Rated 4.2 /5 on TrusPilot
  • Highly rated mobile app for iOS and Android 
  • Supports 7 actively traded crypto and ERC20 tokens 
  • Coinjar Bundles to diversify your portfolio
  • Earn reward points to pay exchange fees with Coinjar Rewards 
  • Secure Coinjar wallet 
  • Pay with crypto using Coinjar Card with no monthly or activation fees

Fees

  • Fiat deposit fees: $0 (PayID, Bank Transfer) / 1.5% (Blushyft cash) 
  • Instant Buy fees (Visa/Mastercard): 2%
  • Maker fees: 0.04% – 0.10% 
  • Taker fees: 0%
  • Conversion fees (Fiat & Crypto): 1% 
  • Fiat Withdrawal fees: $0
  • Crypto deposit fees: $0
  • Crypto withdrawal fees: Variable network fees

Visit CoinJar

5. Binance: Best exchange for day traders

Binance is always the first choice for international crypto services and I’ll tell you why. The platform was launched in 2017 and for a relatively short time, it has managed to steal the hearts of thousands of traders around the world due to the rich diversity of trading opportunities under one roof (hence the massive trading volumes there).

Binance was originally headquartered in China, but due to regulatory problems, the company was relocated to Malta, an island known for being crypto-friendly.

Binance site 1

First and foremost, traders worldwide praise Binance for the variety of cryptocurrencies it has on offer and I’m not an exception.

It has given me a unique chance to invest in some of the most obscure but potentially lucrative tokens, and engage myself in margin trading for the first time once I felt confident enough in my trading skills.

In fact, I’d say that Binance is the best crypto exchange for advanced traders (if you’re looking to short Bitcoin for example) — they even have a native token called BNB, that traders can use to get a discount on the trading fees, i.e. cut them in half.

In terms of user and account protection, I had the impression of dealing with a trustworthy platform that goes the extra mile to introduce top-notch security methods for its customers’ funds.

The best feature that I believe sets this platform apart is the Secure Asset Fund for Users (SAFU) which functions as this pooling vault to which Binance distributes 10% of all collected fees.

In May 2019, when the platform was hacked successfully, Binance was able to reimburse the lost funds to its users by drawing out funds from SAFU.

On top of this, Binance also has some of the lowest fees you can find.

Pros:

  • Advanced trading platform
  • Futures trading
  • Massive range of cryptocurrencies
  • Great trading fees
  • Highest liquidity on the market

Cons:

  • Not super beginner-friendly
  • Support could be better

Visit Binance

Related: Full Binance Review

Binance Details

binance logo
3/5

Features

  • Largest and most liquid exchange platform 
  • 700+ crypto assets
  • Supports 50+ fiat currencies
  • Supports short selling 
  • BNB token can give you 25% rebate on trading fees
  • Binance Lite for beginner-friendly interface
  • Trade anywhere with Binance mobile
  • Trust Wallet with price market fluctuations 
  • Up to 125x leverage margin 
  • Has its own NFT marketplace 
  • Peer-to-peer trading available 

Fees

  • Fiat deposit fees: $0 
  • Maker fees: 0.1% 
  • Taker fees: 0.1%
  • Fiat Withdrawal fees: $0
  • Crypto deposit fees: $0
  • Crypto withdrawal fees: Network fees 
  • Buy and sell trading fees: 0.5%

Visit Binance

6. Independent Reserve: Best for OTC purchases

The next crypto exchange on our list, Independent Reserve, is also native to Australia and from my personal experience, it has proved itself to be a reliable platform for crypto trading over the years.

IR is a veteran on the Australian crypto scene and supports a total of 13 cryptocurrencies, including the most popular ones like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple. Despite the limited choice, I also noticed a handful of other promising altcoins like EOS, XLM, BAT, GNT, REP, OMG, 0x, and PLA.

Independent Reserve features

From the perspective of an Australian-based user, I really liked that the exchange accepts a range of payment methods such as EFT (bank transfer), Osko, SWIFT, PayID, POLi, etc.

You can use AUD, USD, or NZD. Compared to other exchanges of this type, the IR fees are incredibly low, starting from 0.5%, and can decrease to 0.05% depending on your trading volume.

I decided to go for the Premium account and benefit from the full insurance on my crypto holdings. Namely, this upgrade ensures guaranteed protection of my account against a breach of IR’s security, employee theft, or loss of funds from my IR bitcoin wallet.

Moreover, IR uses offline, multi-layer encryption for your funds and stores them in cold storage, i.e. offline digital hardware storage devices kept in secure vaults in different locations.

However, I couldn’t help but notice that the exchange has a slight learning curve to it, which is why we recommend it to more experienced traders.

Pros:

  • OTC desk
  • Robust security

Cons:

  • Small range of cryptocurrencies on offer

Visit Independent Reserve

Related: Full Independent Reserve review

Independent Reserve Details

Independent reserve logo
3/5

Features

  • Gold certified member of Blockchain Australia
  • Supports 30+ cryptocurrencies
  • Accepts AUD, NZD, SGD, and USD fiat currencies 
  • Supported in 40+ countries worldwide
  • Library of best trading strategies you can copy using AutoTrader
  • Insured funds for Premium Users
  • iOS and Android supported mobile app
  • Integrated with TradeView charting
  • Accommodates various order types
  • OTC trading available
  • 24/7 customer support 

Fees

  • Trading fees: 0.02% – 0.5%
  • Fiat deposit fees: $0 for AUD 100 and above
  • Fiat Withdrawal fees: $0 for AUD electronic funds transfer
  • Crypto deposit fees: $0
  • Crypto withdrawal fees: Depends on crypto

Visit Independent Reserve

7. Coinbase

To my knowledge, Coinbase is the most mainstream crypto brand on an international level. This American-based brokerage service was launched in 2012 and since then, it’s followed a highly regulated sequence of growth.

Coinbase is registered as a Money Services Business with FinCEN and has obtained numerous licenses from reliable financial regulators.

Coinbase site

My view is that Coinbase is a great choice for crypto traders, especially beginners, due to its user-friendliness and easily navigable interface. They support an insane amount of cryptocurrencies as well, which didn’t used to be the case.

Coinbase has a strict Digital Asset Framework that assesses each currency’s metrics (e.g. market capitalization, liquidity, customer demand, velocity) before deciding whether to add support for that coin or not.

Another Coinbase feature that I personally appreciate is the variety of payment methods. Thus, you can choose to pay with a debit card for small investments, wire transfer for large investments, or bank account for either. On that account, I was fully aware of the fact that the platform may incur higher fees for its brokerage services.

Well, the trading fees range between 1.49% and 3.99% but on the other hand, the exchange offers superb account protection. I was able to activate one of the three types of 2FA available, a withdrawal whitelist, a Coinbase wallet, and a vault during the registration process.

It just felt good to know that all of the stored sensitive data is properly encrypted and funds are kept in cold storage.

Pros:

  • User-friendly
  • Global and trusted
  • Coinbase Pro for advanced traders

Cons:

  • Expensive fees

Visit Coinbase

Related: Full Coinbase Review

Coinbase Details

Coinbase logo
2.5/5

Features

  • International cryptocurrency exchange
  • High liquidity platform
  • Available in 100+ countries worldwide
  • Beginner-friendly interface
  • Multi-coin support digital wallet by Coinbase 
  • Coinbase PRO for more experienced users 
  • 24/7 customer support
  • Integrated NFT marketplace
  • Spend crypto or fiat with no fees via Coinbase Card 
  • Earn up to 5.75% APY through Coinbase Earn

Fees

  • Credit/Debit Card Fee: 3.99%
  • Taker Fee: 0.60% ($0-10K) – 0.05% ($500M+)
  • Maker Fee: 0.40% ($0-10K) – 0% ($500M+)
  • Fiat deposit fees: Depends on the method
  • Fiat Withdrawal fees: Depends on the method

Visit Coinbase

8. Coinmama

This exchange has been around since 2013 and has grown into a well-known and reliable marketplace. Coinmama is different from any other crypto platform I have visited before.

The exchange doesn’t facilitate trades between buyers and sellers but sells all supported cryptocurrencies from its own inventory. As a result, their platform is very easy to use and allows users to buy the top cryptocurrencies with a variety of payment methods like bank transfer, debit cards, credit cards, etc.

coinmama

Coinmama doesn’t have an advanced trading platform like Swyftx or Binance, yet I really appreciated the effort that went into purchasing my favourite coin as easily as possible.

I also liked their dynamic customer support, with options such as support tickets, email, and live chat (during business hours only).

Coinmama is mainly an international exchange, supporting over 180 countries and millions of satisfied customers. The only thing that would possibly set me back is their fees, both for debit/credit cards, and crypto trading fees.

The platform didn’t include the 5% service fee into the price of the asset when listing them, so I was rather taken aback when placing the order. Also, I would like to see more coins available, as at the moment they only have around 10 coins on offer.

All in all, they’re not bad at all, but the lack of an advanced trading platform and the high fees hurts their rating in my comparison a bit.

Pros:

  • Easy to purchase crypto with
  • A lot of payment methods

Cons:

  • No wallet functionality
  • High fees

Visit Coinmama

Related: Full Coinmama review

Coinmama Details

Coinmama logo
2.5/5

Features

  • Available in 180+ countries 
  • Various payment methods available
  • Accepts almost every fiat currency
  • Quick account verification
  • Discount of up to 25% on fees via the Coinmama loyalty program
  • Buy 8 popular crypto and tokens instantly 
  • 24/7 customer support via live chat and email
  • Coinmama charges are based on the market rate of TradeBlock’s XBX Index plus 2%
  • High spending limits depending on verification level

Fees

  • Buying fees: 5% (credit card, Apple Pay, Google Pay) / $0 (Instant bank transfer, ACH, Fedwire, SEPA, Swift)
  • Commission fees: 0.99% – 3.90%

Visit Coinmama

9. eToro: Best for CFD crypto trading

Founded in 2006, eToro is a multi-asset company that knows how to keep users busy with 2,000+ trading products including CFDs, securities, ETFs, stocks, cryptocurrencies and much more.

However, I was really tempted to try eToro’s best-known feature — its copy-trading platform, where traders can mimic the trading strategies of other investors across. I’m sure that beginners with no previous trading experience will find this option essential to practice their trading strategies.

etoro

Furthermore, eToro is great if you want to engage in margin trading, use leverage, or experiment with shorting. I like how experienced and meticulous they are at what they do. You can see that by how user-friendly the platform is and the types of security methods they use (2FA, cold storage, and SSL encryption).

In Australia, eToro is licensed by the Australian Securities Investment Commission (ASIC) under the trading name eToro AUS Capital Pty Ltd. As for customer support, I discovered they have both a live chat feature and support tickets available for direct communication.

Finally, something to keep in mind with eToro is the way their daily fees work — you can find all the fees on their website. Note that they have an inactivity fee of $10/month if you don’t log in for over 12 months.

Pros:

  • Low minimum to begin investing.
  • Match moves of popular traders.

Cons:

  • High fees

Visit eToro

Related: eToro review

eToro Details

eToro logo
2.5/5

Features

  • ASIC-regulated platform
  • Easy sign-up process
  • CopyTrader allows you to replicate other investors’ actions in real time
  • Highly rated mobile app for Android and iOS
  • eToro multicurrency wallet
  • Social trading feature
  • Capable of shorting
  • Comes with advanced charts and analysis tools
  • Customized Watchlist with real-time updates
  • Curated Smart portfolios to instantly diversify your assets
  • $100,000 demo account

Fees

  • Trading fees: 1%
  • Deposit fees: $0
  • Withdrawal fees: $5

Visit eToro

10. Kraken

Founded in 2011 by Jesse Powell, Kraken is an exceptionally reliable and experienced cryptocurrency exchange. It provides traders from almost any country (and most US states) with a highly professional environment for spot and futures margin trading. I heartily recommend this advanced platform to experienced traders, who — for sure — will feel right at home.

Kraken

Surprisingly enough, their fees are pretty good (against what I got using the platform) and go up to 0.26%. They have over 50 cryptocurrencies on offer but I was impressed by the wide list of options for fiat payments including USD, CAD, GBP, YPY, EUR, AUD, and CHF. This made a great difference to me, as I didn’t lose any money by converting AUD to another fiat currency.

Kraken takes security extremely seriously and keeps most of its currency offline. They even have a bug bounty if a third party discovers an exploit or security vulnerability.

On top of that, if you’re planning to get a short break from trading, I learnt that you can secure your account by activating Kraken’s Global Settings Lock and Master Key that block unauthorized account changes.

In the end, you should, by all means, download one of the three available Kraken mobile apps for a full trading experience.

Pros:

  • Great security
  • Trusted and international
  • Wide range of fiat currencies

Cons:

  • High minimums on deposits and withdrawals

Visit Kraken

Related: Kraken review

Kraken Details

Kraken Logo
2.5/5

Features

  • US-based cryptocurrency exchange
  • Highly secured platform
  • 190+ countries supported worldwide
  • Supports 100+ cryptocurrencies
  • Excellent mobile app for Android and iOS
  • Kraken PRO for advanced traders
  • 24/7 customer support via live chat, phone, email
  • Cryptowatch enables price and volume alerts
  • Up to 5x leverage (margin trading)
  • OTC trading available
  • Integrated NFT marketplace (new!)

Fees

  • Maker fees: 0% – 0.16%
  • Taker fees: 0.10% – 0.26%
  • Fiat deposit fees for AUD: $0 (bank transfer/Osko, Swift/etana custody)
  • Fiat Withdrawal fees for AUD: $0 (bank transfer, Osko)
  • Crypto Withdrawal fees: Depends on crypto (eg., 0.0005 BTC for BTC)

Visit Kraken

11. KuCoin

Kucoin was launched in 2017, making it one of the youngest crypto trading platforms on this list. They’ve grown a lot since their inception and have become quite a reliable exchange for global standards. I regularly follow their updates and it’s amazing how they manage to add new features and currencies to their offering so often and keep avid traders happy all the time.

Kucoin

As we’re dealing with more of a professional trading platform, I’m certainly most impressed by the number of pairs on offer as well as the abundance of trading options such as futures and margin trading, lending, and even staking crypto. KuCoin is obviously doing its very best to keep up with all upcoming trends in the crypto industry.

Despite being categorized as an advanced exchange, KuCoin spared no effort to get closer to newcomers. Even their futures trading section has a lite section for beginners and a pro section for the experienced trader. Like most other exchanges, they also have an app for mobile trading. I enjoyed navigating through the KuCoin mobile app — it’s easy to use and looks great.

As for fees, they’re committed to keeping them as low as possible. Believe it or not, you’ll be looking at 0.1% trading fees. I was happy to see that they also have a lot of alternative deposit methods like PayPal, apart from credit/debit cards and bank transfers. They started as a crypto-to-crypto only exchange but now accept over 20 different fiat currencies, which is always a plus if you ask me.

Pros:

  • Low trading fees
  • A lot of supported cryptocurrencies
  • Great staking features

Cons:

  • No fiat-to-crypto trading pairs
  • Unregulated crypto exchange

Visit KuCoin

Related: KuCoin review

KuCoin Details

KuCoin logo
2.5/5

Features

  • Vast selection of cryptocurrencies
  • User-friendly interface
  • Up to 500 USDT bonuses for new users
  • Available in 200+ countries worldwide
  • 24/7 customer support via live chat, email, and tickets
  • Instantly convert crypto to crypto
  • Peer-to-peer exchange available
  • Supports 70+ payment methods
  • Up to 10x leverage on margin trading 
  • KuCoin Shares (KCS) holders get a trading fee discount

Fees

  • Maker fees: 0% – 0.1%
  • Taker fees: 0.025% – 0.1%
  • Withdrawal fees: Depends on crypto
  • Deposit fees: $0

Visit KuCoin

12. Bittrex

Bittrex was founded in 2013 by a team of ex-Microsoft employees. They started in Las Vegas, relocated a few times, now have their base in Liechtenstein, and have rebranded the platform to Bittrex Global.

I’ve always been a fan of this cryptocurrency exchange because of its commitment to security. They’ve never lost any funds and keep 80%+ of all funds offline. They also adhere to AML and KYC policies and even implemented something called Know Your Transaction (KYT). KYT basically monitors transactions on the exchange and looks for suspicious patterns. It then informs the team the moment it detects something odd.

Bittrex

Bittrex’s trading platform is very advanced and has all the expected bells and whistles. If you have profound knowledge of crypto trading, it’s definitely the right destination for your next trading venture. The massive amount of cryptocurrencies they support also goes in their favour.

I find the fees of 0.2% quite reasonable for this type of crypto exchange. As for fiat currencies, you can deposit and withdraw USD, GBP, JPY, and EUR.

Pros:

  • A lot of supported cryptocurrencies
  • Advanced trading platform

Cons:

  • No option for margin trading

Visit Bittrex

Related: Bittrex review

Bittrex Details

2/5

Features

  • US-based crypto-to-crypto trading platform
  • One of the most secure exchanges in the industry
  • Advanced trading platform for experienced traders
  • Hosts a wide selection of cryptocurrencies
  • 80% of assets are stored offline
  • Highly rated mobile app for iOS and Android
  • Instant buy and sell crypto 
  • Offers Cardano staking
  • Features several order types
  • Relatively low fees

Fees

  • Maker fees: 0% – 0.75% 
  • Taker fees: 0.05% – 0.75%
  • Bank card deposit fees: 3% + deposit amount per transaction
  • Crypto withdrawal fees: Depends on crypto
  • Fiat withdrawal fees: $0
  • Deposit fees: $0

Visit Bittrex

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How to Choose a Cryptocurrency Exchange in Australia?

For starters, you need to compare the listed crypto exchanges in order to find an option that’s best suited to your purpose, experience, and your expectations from crypto trading. There are several key factors to consider when choosing the right crypto exchange.

Type of Trading

First, take into account the type of trade you’ll place and make sure that your exchange of choice supports it. The offered types of trading are usually:

  • Crypto-to-crypto trading
  • Fiat-to-crypto trading
  • Both

For example, if you plan to buy some crypto with Australian Dollars, you should look for a crypto brokerage service that allows this sort of crypto to fiat trade and also supports your preferred payment method (bank transfer, credit card, etc.). Otherwise, if you want to trade crypto coins you already possess against other cryptocurrencies (BTC to ETH, for example), then find a trading platform that offers direct crypto-to-crypto swaps. Luckily, most crypto exchanges offer this, anyway.

User-Friendliness

Crypto exchanges differ to a great extent in the way they present their products and services to the user, and various types of layouts are best suited to traders with different skill levels. Some of them feature an uncluttered and intuitive user interface, which helps novices feel comfortable when making their first crypto transactions.

On the other hand, seasoned traders usually look for a cutting-edge layout that offers detailed insight into market indicators, charts, candlesticks and graphs, and everything that can contribute to better trading strategies. Yet, starting off with an advanced trading platform can be rather discouraging for absolute beginners.

One of the most important features around UI is a great crypto exchange app. Apps make the whole experience of signing up and trading a LOT easier. Definitely something to look out for

Supported Cryptocurrencies

It’s good to know what type of cryptocurrencies you’re planning to buy before choosing a cryptocurrency exchange. Despite the fact that there are over 4,000 circulating altcoins, some exchanges support BTC exclusively. Check out our crypto buying guides for specific coins.

Four bitcoins stacked on top of two laptops

However, the majority offer BTC and the standard selection of the most dominant cryptocurrencies such as Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Keep in mind that it’s difficult to find a reliable exchange that supports unpopular and newly-discovered coins, as those are less reliable.

If you trade crypto with fiat money, you should also double-check whether the exchange has listed your local or preferred currency in the available fiat-to-crypto trading pairs.

Deposit & Withdrawal Methods

Crypto exchanges today try to cater to a broader audience so generally, there is a wide choice of deposit methods. Most frequently, exchanges support regular bank transfers and credit debit cards but some of them also offer various e-payment options based on geographical availability. Check whether your exchange of choice:

  • Supports AUD deposits and withdrawals
  • Has a daily or monthly deposit/withdrawal limit

Trading Fees and Exchange Rates

The fee structure is perhaps the most variable factor between crypto exchanges. However, all crypto exchanges incur the same types of fees: trading, withdrawal, and deposit fees. That’s why you’ll need to consider the total cost and find something that is worth the money. For example, some exchanges may not charge for deposits but do incur trading fees much higher than the industry standard. You can learn more about how trading fees work to get a better idea.

When it comes to the purchase price of your selected cryptocurrency, you should know that there is no single, unified exchange rate – it’s calculated based on the current supply and demand, so the price of cryptocurrencies can differ up to 10-15% from one exchange to another.

Account Verification Process

Some users want to avoid giving away any personal details when trading cryptocurrency. However, full anonymity is nearly impossible today due to the strict AML/CFT (anti-money laundering and Combating the Financing of Terrorism) policies that crypto exchanges must follow. In any case, an exchange that operates under local regulations is more likely to be a trustworthy one.

So, be ready to spend some extra time on a KYC (know-your-customer) verification before you start trading on any of the well-established platforms. In fact, the verification process varies between exchanges, but more or less, some of the information you’ll need to submit include:

  • Full name
  • Email address
  • Phone number
  • Utility bill to prove your address
  • A copy or photo of a government-issued document (ID card, driving license or passport).

Remember that some exchanges have several thresholds of verification that determine the deposit/withdrawal limits and services you can use on their platform. The more personal information you provide, the more trading you can do.

Some exchanges also have referral codes that offer some free crypto upon signing up. An example would be our Swyftx referral code.

Security Features for Both the Platform and the Wallets

In digital space, security comes before anything else. In general, crypto exchanges have a history of unresolved hacker attacks resulting in permanent losses of millions of dollars.

secure crypto exchange

You’ll notice that they strongly aim at implementing the highest security standards in their platforms, users’ accounts and wallets. When reviewing the exchanges’ features, you’ll need to focus on the following:

  • 2FA (two-factor authentication)
  • Online or offline storage of customer funds
  • Control over users’ private keys
  • Type of verification required
  • Email or SMS notifications on account activity
  • Full-time security monitoring
  • Email encryption
  • Proof of reserve

Customer Support

We always underrate the “customer-support” factor but the truth is that the majority of user complaints arise from not being able to reach the support team and get help with issues regarding account verification or transactions.

When inspecting a platform’s customer support, focus on:

  • How can you reach the support team: email, live chat, phone, or inquiry form (ticket)?
  • If there is an open phone line, do they employ a bot for the most frequently asked questions, or do they talk to you directly?
  • Is the support team available only during business hours or 24/7?
  • How long does it take to get a response?
  • Do internationally registered exchanges have support in English?
  • Does their website have a support section?

Reputation & Reviews

What do online reviews say about the exchange? The personal experiences of users are the most reliable source where you can learn a lot about the platform’s real drawbacks and perks. Rating systems are really helpful in deciding whether the platform can be trusted.

It’s always a good idea to read something more about the exchange’s history – how long it’s been around and whether it has any track record for security breaches.

Is It a Regulated Exchange in Australia?

It looks like local authorities worldwide were caught unprepared for the rapid growth of the crypto industry. They are putting in a great deal of effort to set some legal frames, but most countries are far from reaching the desired outcome.

In Australia, crypto operators must be registered with AUSTRAC (the Australian Transaction Reports and Analysis Centre) and follow the governments’ AML/CTF regulations.

Due to local regulations, some exchanges are banned from certain countries and conversely, there are exchanges that don’t allow access to users from particular territories. Fortunately, Australia isn’t on any of these “black lists”.

How to Use an Australian Cryptocurrency Exchange

Using a crypto exchange is pretty straightforward, most platforms have streamlined the process as much as possible, here are the general steps:

  1. Compare exchanges and find one that fits your needs.
  2. Sign up and create an account on the exchange.
  3. Complete the verification process (KYC).
  4. Fund your account with AUD using any of the available payment methods like  Polipay, PayID, bank transfers, or credit/debit card.
  5. Once the funds are in your account, go ahead and find the cryptocurrency you’re looking to trade with.
  6. Enter the amount, either in AUD, or in the cryptocurrency, and click the buy button.

Cryptocurrency Exchange Types

Crypto exchange types

We use the word exchange as a broader term to cover several types of crypto marketplaces including cryptocurrency brokers, trading platforms, and other services. The different exchange types are tailored for a certain category of users depending on their experience level.

They also can work in slightly different ways, you can find more about this topic by reading our article on how crypto exchanges work.

Cryptocurrency Broker

Crypto brokerages services are designed for beginners that don’t have any prior knowledge of cryptocurrency trading. They have simplified the purchasing process to the extent that everyone who can use a computer can buy some crypto in a few clicks. Luckily, all cryptocurrency brokers support fiat payments. CoinSpot is a perfect example of such a beginner-friendly brokerage service where novices can gain some experience and get encouraged to keep trading.

Crypto Exchange for Trading

This is what is generally meant when you hear cryptocurrency exchange. It’s not that the regular trading platforms aren’t beginner-friendly, but they are a step beyond basic crypto brokers.

More specifically, on exchange platforms, you can buy, sell, and trade cryptocurrency on an open market for more competitive fees, choose a trading pair from a wide range of supported cryptocurrencies and go for some more advanced options like margin trading. The platforms’ interface usually features basic trading tools and market indicators. Binance is an example of how a user-friendly platform should look like.

Crypto Exchanges With Zero Fees

Don’t fall for zero-fees ads easily as they don’t always turn out to be really cost-free. However, it’s possible to find exchanges that don’t charge for trades but this advantage is usually reserved for crypto-to-crypto swaps.

For example, KuCoin has established an Instant Exchange that offers the best possible crypto exchange rate allowing a fast exchange of coins with zero trading fees. This service supports prevalent cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and XRP.

Non-Custodial Exchanges

Non-custodial crypto exchanges don’t provide a crypto-wallet as part of their set of services. Instead, they send the crypto-assets directly to your personal wallet immediately after the purchase. This option is considered more secure than allowing the exchange to have total control over your funds.

A good non-custodial exchange will deliver the purchased amounts of crypto as fast as possible and provide a broad array of payment methods.

Futures & Derivatives Crypto Exchanges

Derivatives are also geared towards professional traders, often called the “next level” of crypto trading.

In a nutshell, derivatives are secondary contracts that derive their value from a primary underlying asset. The most popular crypto derivatives are futures – contracts to buy or sell a digital currency at a later point in time for a fixed price. They serve as a tool for traders to lock in their profits in a volatile environment or hedge their current positions.

A growing number of regular crypto exchanges offer derivatives within their platforms but there are also specifically designed derivatives/futures exchanges.

Best Bitcoin Exchange

A good Bitcoin exchange doesn’t have to offer a broad range of trading features as people are there simply to buy some Bitcoin. So, the best Bitcoin exchange has to be cost-effective, easy to use, and what’s more, it needs to provide a wide selection of fiat payment options.

Buying bitcoin

With this in mind, the best solution is to use a local exchange, as you can be sure that your local currency will be supported by the platform and you won’t need to pay any additional fees for cross-border transactions or conversions.

According to these criteria, the best Bitcoin exchange for Australian citizens is Swyftx. It’s a trustworthy trading spot and its fee schedule is in line with the average standard. When it comes to buying Bitcoin, the exchange delivers first-rate services for convenient and fast purchases. Additionally, fiat payments are perfectly adjusted to the Australian market and include bank transfers, PayID, OSKO, and debit/credit cards.

Best Ethereum Exchange

Ethereum or Ether (ETH) is the second-largest cryptocurrency and it can be found on all cryptocurrency exchanges that aren’t exclusively limited to Bitcoin. This means that the criteria for the best Ethereum exchange shouldn’t differ from those for a Bitcoin marketplace – low fees, local availability, high liquidity, and fast transactions are still as important.

The cheapest place to buy Ethereum in Australia is, again, Swyftx.

How we choose and rank the best crypto exchanges.

We test, review and rate exchanges by looking at their ease-of-use, trading features, customer support, and fees. Analyzing user reviews helps us assess the overall sentiment. However, we didn’t evaluate every exchange and your needs might dictate an exchange we haven’t reviewed yet.

Frequently Asked Questions

If you want to find a suitable crypto exchange, you should analyze its features and compare them to your investment strategy. Take into account the cryptocurrency selection and available payment methods, look for platforms with low fees and high deposit/withdrawal limits, read user reviews to check the level of customer service they provide, and the history of successful security breaches.

Out of the five mentioned above, Binance is labeled as the biggest crypto exchange by influential crypto sites like CoinMarketCap, based on the platform’s trading volume, markets, and liquidity.

In our opinion, the best crypto exchange in Australia is Swyftx. We based our choice on the platform’s extensive list of support cryptocurrencies, high-level security methods, reasonable fees, and the overall user experience. Plus, it’s a user-friendly choice that works great for beginners.

For Australian residents, Swyftx is the safest choice. Apart from state-of-the-art security measures, Swyftx has the advantage of being Australian-based. Users can benefit from the proximity of the company’s headquarters and enjoy better customer service.

The Australian government and the ATO is making substantial progress towards regulating issues that are related to cryptocurrency trading. Until 2017, Bitcoin and other altcoins were subject to double-taxation in Australia under the Goods and Services Tax (GST) but now, they’re treated as property and are covered by Capital Gains Tax (CGT).

This means that you’ll be taxed for any profit you’ll make selling or trading crypto assets as you would with any other regular income.

For more info, read our full article on crypto and taxes in Australia.

The cheapest crypto exchange is most likely Binance. With trading fees of only 0.1%, they’re the most affordable when it comes to buying and selling crypto. Their customer support is a bit lacking compared to the competition though.

We have multiple trusted crypto exchanges here in Australia. A few recommendations would be Swyftx, Coinspot, Binance, Digital Surge, and Coinjar. To operate a crypto exchange in Australia, said exchange needs to be registered with AUSTRAC.

The best crypto app is hard to pinpoint. A lot of the exchanges have fantastic apps. We like both Swyftx and Coinspots’ cryptocurrency apps. They’re very easy to use.

To trade crypto futures, all you need is a crypto exchange that supports it. There are several exchanges that enable futures trading for cryptocurrencies. A few examples are Binance, FTC, and eToro.