Best Australian Cryptocurrency Exchanges: Reviews [UPDATED 2022]
Some customers say that CoinSpot ‘s 1 % trading fee for Instant Buys is excessively high compared to other exchanges, but I believe it ‘s a little trade off for the longstanding hope they have developed in the australian market, and their commitment to security. If you are interest in my detail review of CoinSpot, snap here. For those that have heard the ballyhoo about NFTs, you will be bang-up to hear that CoinSpot now has an NFT market, which offers popular collections such as Bored Ape Yacht Club. The best feature about CoinSpot ‘s NFT marketplace is that you can purchase them using any cryptocurrency you like. Unlike on other exchanges, or OpenSea, where you can only purchase NFTs with ETH, you do n’t have to deal with the harass of swapping other coins to ETH on CoinSpot. CoinSpot offers staking on 22 coins, which is a way to earn interest on your crypto by storing it with CoinSpot. It is an excellent way to earn passive voice income as you hold your coins for the long term, and you will be storm how quickly your compound rewards add up.
CoinSpot is a full option for beginners as their dashboard is identical simple and comfortable to use, both on background and mobile. They have put in a lot of attempt to make sure users get a clutter free have. If you encounter any issues, you can besides well contact customer patronize via Live Chat. If you want to access lower fees on CoinSpot, that is possible on the market, where it only costs 0.1 % to trade a coin. however, it is crucial to note that there is a express range of coins using Market Trades. All the major coins like BTC, ETH, ADA are available, but if you want a small altcoin, you have to Instant Buy direct from CoinSpot, incurring the 1 % tip. CoinSpot is very easy to use, which is excellent for newcomers to the crypto commercialize. They offer more than 360+ coins that can be bought and sold instantaneously, which is the largest crop that you can find in an Australian crypto substitute. I am shanghai with the wide survival of coins, even some that are not listed anywhere else, but their one downfall is the transaction fee of 1 % for Instant Buys and Sells. CoinSpot was launched in Australia in 2013, and they have quickly grown to have the most users ( 2.5 million+ by 2022 ) and highest number of transactions of any australian exchange. They are the most externally audited crypto exchange in Australia, and the only one to receive the ISO 27001 documentation, giving rise to their title of the most trust and secure switch over. For me personally, I found Swyftx to be an excellent exchange, and anecdotally we ‘ve had similar feedback from new users who are all commenting on how easy it is to get set up and trade. If you want a dependable crypto exchange that works super intuitively, I highly recommend you take a count at Swyftx. For a limited time, if you sign up with our link, you can besides receive $ 20 FREE Bitcoin to get you started, even before you make your first deposit. If you want to read my full review before you make up your mind, snap here. One criticism I have heard from highly dangerous crypto traders is that there are no advance markets such as futures or margin trade. While that is the case, Swyftx is built more for beginners and intermediate crypto investors. If you are a identical serious cryptocurrency trader, I would suggest a give trading platform such as Binance. Staking is another highly sought feature of speech because it means you can earn pastime on the coins you are holding in the account. alternatively of fair letting your crypto sit there and waiting for the value to increase, if you venture it, you increase the sum of cryptocurrency you actually own. This is an excellent feature of speech that even beginners can take advantage of, because it only takes a couple of bare clicks. You can presently stake 21 coins on Swyftx. To test out Swyftx ‘s claims, we conducted a comparison quiz using my personal accounts on Swyftx and 3 of the other best australian crypto exchanges – Digital Surge, CoinSpot and Independent Reserve. I deposited $ 100 into each of the four accounts, bought Bitcoin using the $ 100, then sold it all binding to the rally. The remaining money left over helped me work out which switch over took the least in fees. Read my comparison test here – the results are interesting ! After conducting the test, it cemented Swyftx as my # 2 choice for australian crypto investors. Swyftx can achieve humble spreads in the australian crypto market, ( merely 0.45 % on BTC, and averaging 1.7 % ) because they have access to much larger international pools of deal book, enabling them to pass the profit onto customers. The low fees are another excellent rationality for newcomers and advanced traders alike to get on board with Swyftx. It is always exempt to deposit and withdraw AUD, no matter what payment method you choose, and trade fees are only 0.6 % of the transaction. The spreads are besides very abject, so there are no hide surprises there. If you always run into any issues, you can quickly receive serve via Live Chat customer digest. They are always responsive and very knowledgeable, and are such a life buoy for newbies to the crypto industry. You will find over 320+ cryptocurrencies that you can trade, and this number is continually increasing as they add more coins on a regular footing. As a novice, you may struggle with knowing what price is good, or when you should buy, but with Swyftx, you can switch to Demo mode easily ( in the acme right corner of the locate ) and receive $ 10,000 FREE play money to try your strategies first ! The trades mimic actual liveliness, as the prices in the demonstration mode reflect the actual live prices of crypto, so you can truly get a feel of how it works. If you’re new to crypto, it can wholly be very daunting, but Swyftx has done their identical best to make it straightforward. The user interface is very uninfected and easy to navigate, and when you want to buy or sell crypto, it is easy to do sol immediately. There is no need to study complicate graph, or place limit orders ( although those options are besides available ). Swyftx is an excellent choice if you’re looking for a cryptocurrency exchange in Australia. There are plenty of features that will keep tied progress traders interested, but I want to start with what makes Swyftx bang-up for beginners. An easy-to-use interface, show modality, Live Chat, low fees and $ 20 FREE Bitcoin even before you make a situate ! Read on to find out more detail. All in all, Digital Surge is one of the best choices of crypto exchange in Australia, in particular for beginners who do n’t have much experience. Digital Surge ‘s basic interface, Live Chat, low fees, and $ 10 FREE Bitcoin when you register make it a great option. To read my full moon inspection on Digital Surge, click here. A criticism I sometimes hear about Digital Surge is that they do n’t have staking available on their exchange. While this is true as of the time of spell, this may change in the near future, as they are constantly making improvements to their platform. If you are interest in staking, you can try out CoinSpot, which added the functionality in late 2021. If you have any issues on your report, you can well contact customer subscribe 24/7, who you can contact via Live Chat or electronic mail. Digital Surge can besides be used on both desktop or mobile app, so you can trade any time, no matter where you are. A in truth interesting feature that Digital Surge has, that is not found on any other Australian cryptocurrency switch over, is the ability to pay bills using Bitcoin. If you have an australian circular or credit batting order that accepts BPAY, you can use Bitcoin immediately from your Digital Surge score to pay it. This is highly commodious, saving you time since you do n’t need to sell your BTC, then withdraw it before you can use your AUD. It besides marks a growing acceptance and borrowing of cryptocurrency in Australia, which is a big summation for crypto investors. Digital Surge have put a lot of feat into creating an interface that is very easy for users to buy and sell and we surely agree with that. It was one of our darling aspects of the platform, you can just click on Buy or Sell, without having to worry about complicated graph. If you have a bit of experience with trade, and prefer to place limit orders, you can besides easily do that in Digital Surge. Digital Surge has the lowest fees in the australian market starting at 0.5 % and going deoxyadenosine monophosphate low as 0.1 % based on deal volume. not only are the fees humble, but the banquet is besides tight, so you know you are getting the best bang for your tear. To test out Digital Surge ‘s claims, we conducted an in-depth crypto buy test which highlighted the difference in fees and diffuse for Digital Surge, Swyftx, CoinSpot and Crypto.com. Digital Surge came out as the clear achiever, averaging fair 0.71 % in blend fees and spread per transaction. Digital Surge is another excellent choice of crypto substitute for Aussies. It is perfective for the everyday Australian who wants to get into crypto. It is ASIC and AUSTRAC registered, so you can trust that they are legitimate and safe. Digital Surge has been around since 2017 and they immediately offer their users access to over 300+ different cryptocurrencies, which can all be purchased directly with AUD. leverage positions are OTC Derivatives, which are regulated fiscal products. OTC Derivatives are considered bad fiscal products, notional and admit leverage. not desirable for all investors. das kapital at risk. See PDS ” Crypto staking available so you can earn sake on your cryptocurrency while you hold it A downside is that eToro operates in USD, so you will need to pay a currency conversion fee when you deposit and withdraw. To learn more about all the features and trade options available on eToro, suction stop here. eToro merely offers 50 of the most popular cryptocurrencies on their platform, and they charge 1 % on all crypto trade. They besides have a mobile app available for io and Android so you can trade whenever you want. even though eToro is not a dedicated crypto exchange, it has a lot of excellent features to keep up with the other exchanges. eToro offers a demonstration account with $ 100,000 virtual money to practise trade, it has crypto bet on, and you can even buy crypto CFDs, allowing you to make money on crypto prices without owning the underlying assets. eToro is a broker that offers many trade instruments, including cryptocurrency. It is built from the ground up as a social deal platform, meaning you can interact with other users, by posting and commenting on the News Feed, and flush automatically copy the accurate trades of the most successful investors. You have the option to reduce your trade fees tied far by taking advantage of Binance Coin ( BNB ), the native cryptocurrency of the exchange. On the downside, it ‘s worth noting that Binance is not an australian caller, so your bank may charge a tip for deposits and withdrawals. Australians besides frequently run into issues verifying their australian issued ID ‘s and depositing from australian banks. We have found this in our own test. If you’re dangerous about deal, then I recommend Binance for you. Their fees are super competitive at 0.1 %. Binance besides integrates well with third-party trade bots so you can automate your strategy. Binance has created a pretty cool platform for crypto trading, although I would n’t recommend it for beginners ; nor is it australian. however, it does make my top 5 for the bluff compass of services and competitive fees. When you log into Binance, you have to navigate your way through a barrage of options including futures, margin trading, P2P, and more. All of these services come with access to over 600+ cryptocurrency coins. The exchange only support 27 cryptocurrencies, but most of these are exceed 30 globally traded and trusted coins. Click here to read my full detailed inspection of Independent Reserve. Independent Reserve has an excellent OTC desk, which is perfective for SMSFs, family offices, sophisticate investors and businesses that want to execute bombastic trades of over $ 100 000. I would recommend Independent Reserve to traders who are depositing and trading big volumes. Independent Reserve is the only australian exchange to offer policy on crypto assets that can cover up to $ 5 million. They offer a tax report powered by KPMG, to make tax report comfortable. Independent Reserve is an australian exchange that has a trusted record when compared to early Aussie exchanges. It beats Swyftx in several areas : first, the trade fees at Independent Reserve are lone 0.5 % compared to the 0.6 % at Swyftx. furthermore, if you are a large investor, you have the ability to lower your trade fees based on bulk. Fees begin to reduce when you trade $ 100,000 or more per month. If you trade $ 20 million per calendar month, the fees dismiss to an highly low 0.02 % ! A security-focused exchange that has complied with US regulation is always a dependable combination, so I give it A+ for security
What I do n’t like about Kraken is that you can only trade 19 cryptocurrencies against the AUD, which is limiting for australian crypto investors. If you lone plan on trading the most popular coins, then this is not an issue. Kraken is exchangeable to Binance in the sense that it aims to provide many services and coins at moo fees, but it differs chiefly in the way that Kraken focuses more on security and offers fewer coins. It is US-based, meaning it complies with heavy regulation, which is good. Kraken is considered one of the most secure exchanges in the earth and provides a decent interface for promote deal with maker/taker fees of 0.16 % / 0.26 %, which is quite competitive. You can besides buy and sell immediately, with a fee of 1.5 %. Kraken has great extra features, such as bet on, futures and margin trade. After your purchase, the crypto is station straight to your external wallet, it is not stored on the commute. This means that your coins are constantly safe ; there is no concern of them being stolen if the exchange is hacked. Easy Crypto Australia besides offers a 100 % funds undertake on all orders, which allows you to invest and trade with peace of mind. Easy Crypto Australia is the best commute if you want to buy crypto straight away. It operates differently to other exchanges, since it does not hold any of your decree or crypto assets. When you want to purchase a coin, you click buy, and it takes you square to the purchase screen where you send money directly from your bank. There is no indigence to have made a deposit before you go to buy. There is live new world chat available for users, in case you run into any issues, or if you prefer, you can leave a ticket. Coinstash is not only a registered crypto switch over in Australia, they besides control an AFS Licensee ( australian Financial Services Licensee ) to keep everything safe and sound. The substitute is besides gradually improving in terms of the act of users and popularity, and they have been featured in several mainstream media channels. Coinstash is a basic cryptocurrency exchange that is easy for beginners to use. There are over 340+ different cryptocurrencies that you can well buy and sell with AUD, and they even have staking available on several coins. many bare crypto exchanges do n’t include stake, but Coinstash does, which is a great addition to their platform. If you are concern about the volatility of crypto, you can placid earn more than 6 % interest in a safe way by staking XAUD – a stablecoin pegged to the australian dollar. Elbaite is an excellent trade chopine suited for large bulk traders who prioritise security, safety and control of their own assets. P2P platforms like Elbaite will become increasingly popular if crypto exchange hack increases in frequency. Elbaite uses an escrow account to hold payment until the Blockchain verifies that the coins you purchased have arrived into your wallet, so buyers always receive their crypto, and sellers always receive their decree currentness with no risk. Elbaite is the best exchange if you want to buy and sell peer-to-peer ( P2P ). It has zero fees for sellers, and merely 1 % for buyers. As a non-custodial P2P marketplace, users buy and sell crypto from other traders directly from one crypto wallet to another. There is no risk of having your digital assets stolen if the exchange is hacked, as your coins are always in your personal wallet, off the exchange. Cointree is the best australian substitute for facilitate of use. It is designed for complete beginners to the crypto market, with its extremely childlike and easy-to-use interface. There are over 280+ available altcoins supported, with the feature to trade coin-to-coin, something not found on all exchanges. Another exciting feature is the choice to pay BPAY bills with Bitcoin that you own in your Cointree history. Before choosing an exchange, it ’ mho important to research a variety show of platforms and compare their features. Know what your requirements and what features you need, to make it easier for you to find a desirable substitution. here are some of the key things to consider, click on each one to read more data. overall, you should look for an rally that has a hard repute for being dependable and procure. take independent reviews and find out about as many exploiter experiences as potential – both cocksure and negative – to find out what the substitute is doing well and where it could do better. What is the customer support like on the rally ? Is there live Chat support ? Is a customer service team available at all times ? How responsive and helpful are customer service agents ? The crypto diligence is even quite lightly regulated, and how an exchange is regulated will depend on where it is based. In Australia, all crypto exchange operators must be registered with AUSTRAC and meet complaisance and report obligations for anti-money wash and counter-terrorism financing. security should be a top precedence when choosing a crypto switch over. Platforms without a range of high-security features such as two-factor authentication, strong explanation confirmation processes, 24/7 security monitor, and offline procure storage for customer funds leave you vulnerable to hackers and fraudsters. When you deposit money into or withdraw money from the central, how long can you expect to wait for your transaction to complete ? Most platforms will require you to verify your identity before allowing you to begin trade. Are you felicitous to give out this data or would you prefer to use an anonymous platform ? The higher the liquidity of the exchange, the easier and faster it will be for you to complete trades. Larger crypto exchanges tend to have eminent fluidity levels. Compare cryptocurrency exchange rates across a assortment of different exchanges – you may be surprised to see merely how much they can fluctuate. Does the exchange offer any discounts or rewards for those who meet certain guidelines, such as keeping up a certain trade volume each calendar month ? Do you want to trade on a network browser, or do you prefer the option to trade from a mobile app ? How easy will it be for you to entree your exchange account wherever you are ? Be aware of any deposit and withdrawal limits that you may be subjected to when using the substitution. Minimum and maximum limits may apply. How a lot is it going to cost you to buy and sell crypto from the beginning to the end of the process on the platform ? Remember to consider any fees associated with the payment method you plan to use, exchange rates, and any discounts you might be entitled to. Consider how you want to deposit money to the exchange and make indisputable that your favored payment method is available. Most exchanges accept democratic options like accredit and debit cards or PayPal. Getting started can be confusing if you are new to crypto, while on the early hand, more experience traders may want a platform that offers more advance features. Let ’ s say you have AUD $ 400 that you want to use to buy some Bitcoin. To get started, you will need to deposit or transfer funds to your cryptocurrency change account. The majority of exchanges will accept a wide range of popular payment methods. Some of the most wide accepted include : note that payment methods accepted deviate between unlike exchanges, sol remember to check that the platform allows for payments in your favored method before you open an account .
Cryptocurrency Exchange Options
An ‘ exchange ’ can be any one of a assortment of cryptocurrency brokers, trade platforms, and other relevant services. There are assorted different substitute types that are typically designed either for beginners or for those more know users .
Brokers – for Beginners
A agent is the dim-witted way to get started with quick and easy crypto purchases available. Brokers work in a like room to a shop class and are the ideal choice for those who are equitable starting out. I actually had a good discussion on reddit on this very topic, feel release to check it out .
Trading Platforms – for Intermediates
If you have a short bite of experience but not enough to consider yourself an expert when it comes to trade cryptocurrency, a crypto trade platform could be right for you. These open markets allow you to buy and sell a wide stove of crypto for competitive fees and typically offer some more advance trade tools such as margin trading. Although they are not quite as simple and easy to use as a broker, many deal platforms are designed to be beginner-friendly .
Derivatives Platforms – for Experts
Advanced users may prefer a derivatives chopine, where you can trade crypto derivatives quite than selling crypto outright. If you are an promote trader looking for a feature-packed, high-liquidity and high-leverage platform, this is the ideal option for you .
Is it Safe to Store Your Cryptocurrency on an Exchange?
Cryptocurrency is stored in digital wallets. When you sign up to a crypto exchange, most of them provide you with a wallet that is held in your central online. You can either leave your cryptocurrency in the switch over account, or transfer it to an external wallet ( either a hot wallet app, or a cold hardware wallet ). Some other platforms require you to have your own external wallet at the time of leverage, and any crypto you buy is transport heterosexual there. It is not recommended to leave your crypto on an commute in the long-run, since the substitution controls the private key to your wallet, leaving you without full moon control of your funds. If the exchange is the victim of a cybersecurity attack, your digital assets may be lost or stolen.