Best Crypto Exchange Australia 2022

Since the dawn of the blockchain revolution, the regulation of several cryptocurrencies and crypto exchanges has evolved dramatically. Finding the best crypto exchange Australia might be difficult, especially for beginners. Currently, a lot of cryptocurrency exchanges have made their way into Australia. Australian law demands users’ KYC and AML (Anti Money Laundering) information.

To save crypto investors from the trouble of finding the right cryptocurrency trading platform all by themselves, we have compiled a list of the best cryptocurrency exchanges in Australia. The list is based on essential user-related factors like methods of deposit, ease of usage, trading fees, customer support, and security.

Before having in-depth knowledge about the best crypto exchanges in Australia, let’s have a look at their fees:

Cryptocurrency Exchange Fees (Maker/Taker)
Cointree 0.5% and 0.9%
Independent Reserve 0.02% to 0.5%
Bitcoin Australia 5% to 7%
BTC Markets NIL / 0.3%
Binance No Maker Fees
CoinJar 1%
Coinspot 1%
Swyftx 0.6%
Digital Surge 0.5%
Kraken 0.9% to 1.5%

Top Cryptocurrency Exchanges in Australia: List

There are many factors that crypto exchanges offer. We have reviewed many exchanges for factors like supported currencies, secure exchange, and more to know the right crypto exchange list. A few of the top crypto exchanges in Australia are mentioned below:-

1. Cointree – Easiest Cryptocurrency Exchange

Cointree is a cryptocurrency exchange in Australia that allows its users to buy bitcoin and other coins using local currency. This well-known specific exchange has made itself popular as one of Australia’s best digital currency exchange platforms. This is widely considered to be the best exchange in Australia by many.

Cointree - The Best Crypto Exchange Australia

Pros and Cons of Cointree

Pros Cons
It is a platform that is very easy to use and is extremely beginner friendly. Beginners can buy bitcoin swiftly using the platform. The major problem with Cointree is that it follows a rather lengthy process to verify its users, which might cause some inconvenience to people signing up for the first time.
The platform offers enough support for the SMSF investors. There happen to be some hidden costs on the site that end up getting accumulated.
It allows the users to purchase crypto in a recurring manner.
There is a mobile application through which users can trade.
Using Cointree would enable the users to pay their bills via cryptocurrency in Australia.

Cointree Fees

The fee structure used by Cointree happens to be a three-tier one. Depending on the trading volumes, the range varies between 0.5% and 0.9%. The crypto trading fees charged on the site can be said to be reasonable for investors with higher net worth. However, Australian traders who are just getting started on the crypto exchange might not find it the cheapest option to start.

It is also to be noted that the spread between the ask and bid is quite on the higher side compared to various other crypto exchanges.

Benefits of Using CointreeBenefits of Using Cointree

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2. Independent Reserve – Most Trusted Crypto Exchange

Independent Reserve, launched in Sydney in 2013, is a long-running and extremely trustworthy crypto exchange with a quicker verification time than other Australian exchanges. New Independent Reserve customers are often confirmed within an hour of registration.

Independent Reserve - Most Trusted Cryptocurrency Exchange Australia

Pros and Cons of Independent Reserve

Pros Cons
Instant deposits via Osko/PayID, EFT, and SWIFT. The token range available on Independent Reserve is limited.
The exchange offers funds that are held safely in cold storage. The interface is not as user-friendly for inexperienced crypto traders.
The built-in KPMG tax calculator makes it easy to file tax returns.
Set up your SMSF and invest in crypto for your retirement.

Services Offered by Independent ReserveServices Offered by Independent Reserve

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Independent Reserve Fees

Independent Reserve exchange charges a fee based on the trading volume of the previous 30 days, starting at 0.5 percent for each transaction. As the trade volume rises, the costs can decrease to as low as 0.02 percent. However, a recalculation is made on this every four hours.

3. Bitcoin Australia – Top Rated Australian Cryptocurrency Exchange

Bitcoin Australia is one of the best Australian crypto exchanges. That is quite a highly rated one and allows users to buy Ethereum and Bitcoin. The site offers its users a smooth and fast trading experience even if they are not experienced traders and is quite easy to navigate through. Bitcoin Australia exchange accepts many offline and online payment method options like cash deposits at 1200 newsagents, making it Australia’s largest crypto exchange.

Bitcoin Australia - Top Rated Australian Crypto Exchange

Pros and Cons Bitcoin Australia

Pros Cons
The primary advantage of this local exchange is the simplicity of the website, which makes it very easy to use. The ordering experience is very straightforward, ensuring a hassle-free purchase of bitcoins. One of the problems that one might face while trading crypto on Bitcoin is the high fees that the site charges. The fees of Bitcoin Australia range between five to seven percent plus GST, which is on top of the market rates that it generally charges.
Another benefit of this advanced trading platform is that it does not take any custody of the users’ crypto assets. The crypto assets belong only to the user. Another con of this site is that it sells Bitcoins at around one percent of the rates available in the mid-market.
The site also offers many payment methods, thus making it easier for users to trade instantly. The selection of choices is really limited on the site. A user can only buy crypto like Ether or Bitcoin and as for selling options, there are only Bitcoins to sell.

Features of Bitcoin AustraliaFeatures of Bitcoin Australia

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Bitcoin Australia Fees

The trading fee on Bitcoin Australia is rather high. The site charges its users five to seven percent fees, excluding GST on buying Bitcoins. The trading fees, however, would depend on a user’s preferred payment method.

4. BTC Markets – Best Crypto Exchange for 2022

Martin Bajalan, a Bitcoin enthusiast, launched BTC Markets in September 2013 in Melbourne, Australia. Bajalan was also one of the nine founding members of the Bitcoin Foundation’s Australian chapter.

The exchange is still privately held and touts itself as a “Blockchain technology business,” with a management team with considerable expertise in IT and financial services sectors. Staff with expertise in software development, cyber security (web and network), payments processing, and the integration of Blockchain technology make up the IT know-how of BTC Markets.

BTC Markets - Best Cryptocurrency Exchange in Australia

Pros and Cons of BTC Markets

Pros Cons
There are low trading fees offered by this site in comparison to other popular Australian cryptocurrency exchange sites. This site allows only six of the large capped cryptocurrencies. This is a drawback as far as digital currency is concerned. Users looking to trade cryptocurrencies over a wide range will be disappointed.
Users do not have to provide any amount of deposit to start trading cryptocurrency on the platform. Margin trading is unavailable on the site.
It is a simple platform, therefore making it easy to use for both experienced traders as well as exchange for beginners. Only a fiat currency is supported by the AUD.
BTC Markets charges zero withdrawal fees on withdrawals made with cash, and as for crypto withdrawals, the charges are also very low. This makes it one of the most popular cryptocurrencies.

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BTC Markets Fees

The BTC Markets’ fee is one of the lowest available in the Australian market. On this site, the trading fee between cryptocurrencies is only 0.22 percent. Fees for trading volume on the site are AUD to cryptocurrency transactions up to $500 starting at 0.85%. Fees for AUD to crypto trading can be as low as 0.1 percent for transactions of AUD 5 million and more, such as buying $10,000. The fees for the available coins range from $0.01 to $18,000.

5. Binance – Largest Cryptocurrency Exchange in Australia

Binance is not only the best crypto exchange Australia but also the largest in the country. The platform is perfect for modern Crypto experts; you need good knowledge about cryptocurrency to understand this platform. They have over 65 cryptocurrencies that can be used to trade, they offer the Australian Crypto Exchange with affordable exchange fees, and their cryptocurrencies and trading options are open for the global market. It has been in the business since 2017. Over these 5 years, they have come up with a bunch of trading options and derivatives and recently launched their NFT.

Binance Cryptocurrency Exchange

Pros and Cons of Binance

Pros Cons
They have a Trust Wallet, end-to-end software to track and trade their cryptocurrencies. The platform has so much to offer that new traders might get confused. It is a platform for experienced traders.
They have taken a step toward modernization by launching their NFT.
They have a wide selection of trading options.
They offer all comfortable transaction options.
The trading fees are lower than other competitors.

Binance Fees

Binance does not charge fees for some selected fiat and stablecoin pairs; there are no maker fees on BUSD pairs. They also offer 25% on Spot Trading Fee and 20% off on USDS-M Futures Trading Fee. There are minimal deposit and withdrawal fees that differ from coin to coin. You can also enjoy more discounts with the VIP program. Binance is certainly one of the market leaders in the Australian Crypto Exchange.

6. CoinJar – Longest running Crypto Trading Platforms

CoinJar is one of the longest-running crypto-trading platforms available in Australia and has also made its presence felt in the international market. It is a rather simple exchange for people who do not have much experience in the crypto field and offers many trading features along with competitive fees. It is user-friendly.

CoinJar - The Safest & Best Australian Crypto Exchange

Pros and Cons of CoinJar

Pros Cons
The primary benefit of using this crypto trading platform is that it has been in the market for quite some time and has made a reputation for itself. One of the major drawbacks of this Australian exchange is the complicated interface that some users might find difficult to handle.
There are a number of deposit methods available on the site. The charting features available on the site are limited, which is another drawback of CoinJar.
The site also offers a mobile application to make it easier for Australian traders to make crypto trades.
The number of CoinJar users goes beyond the 40k mark.
There are a bunch of crypto materials available on the site that are quite innovative in nature.

How CoinJar Works?How CoinJar Work?

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CoinJar Fees

CoinJar exchange charges its users a flat fee of one percent across all categories of assets so they can start trading crypto instantly. The fees on this site are rather high compared to other cryptocurrency exchanges in Australia, and users can choose to use the CoinJar exchange, which offers a different fee structure.

7. Coinspot – Best Practice Security

Coinspot is among the best crypto exchanges in Australia, especially for beginners in the crypto field. The dashboard is quite easy to handle and remains clutter-free, making it easier for users to buy cryptocurrencies and digital currencies smoothly in the long term.

Coinspot - One of The High-Rated Australian Crypto Exchanges

Pros and Cons of Coinspot

Pros Cons
The greatest benefit of using Coinspot is that it is extremely easy for people who are just beginning to trade crypto. Coinspot does not offer a phone or mobile app, which might cause inconvenience to some Australian crypto traders who might prefer to trade from their phones.
The company is strongly established, and the chances of being scammed are near zero. Other exchanges have been known to be scammed. The site does not allow margin trading.
There are a plethora of available deposit methods to choose from.
The site ensures the most secure exchanges.

Coinspot FeaturesCoinspot Features

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Coinspot Fees

The transaction fees charged on the Coinspot exchange depend solely on how the user places orders on the site. The trading fee a user will be charged to sell cryptocurrency, swap instantly, or buy one is a flat one percent. Overall, the trading costs are designed for novices who want to use fiat currencies like Australian dollars to trade in Bitcoin and cryptocurrencies for the first time.

However, the trading fees are excessively expensive for active buyers and cryptocurrency traders since the 1% fee will eat into any possible earnings.

8. Swyftx – Simple Design App With Ease Of Use

Swyftx works as a reliable platform for bitcoin exchange. It is a rather new platform with a user base touching 30k, where one can buy digital currencies like bitcoin and sell them. Swyftx exchange is a well-designed and reliable crypto-trading platform. Swyftx’s mobile app is suitable for novice and expert traders due to its simple design and ease of use.

Swyftx - Top Cryptocurrency Exchange Australia

Pros and Cons of Swyftx

Pros Cons
This is among the best exchanges in Australia, Swyftx provides a platform that even novice Australian investors would find very easy to use. One of the major cons is that the minor foreign exchange fees on cash deposits and withdrawals undermine the overall value of money.
The verification process on this site is very swift. The automatic conversion to fiat currencies like AUD is another disadvantage the site has.
A mobile application also makes it easier for users to perform Australian cryptocurrency exchanges.
The site also offers quite low fees compared to the Australian crypto market prices.
The facility of averaging the dollar costs is also available on the site.

Services Offered by SwyftxServices Offered by Swyftx

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Swyftx Fees

The site charges a fee of 0.6% in case of buy and sells deals. The availability of solid liquidity allows the users to have spread from the range of 0.45% and decreased slippage. The fee structure of Swyftx makes it one of the best crypto exchanges Australia.

9. Digital Surge – Safest Crypto Exchange

Digital Surge is good for users who are looking to buy bitcoin. The site offers users the opportunity to buy bitcoin with the help of fiat currency like AUD or altcoins amounting to 200+. Digital Surge, based out of Brisbane, is on a quest to make bitcoin usable in everyday life.

The platform, designed to be simple to use, lets users deposit currency like the Australian dollar (AUD) via bank transfers, such as PayID, OSKO, and POLi Payments, which can then be spent on a variety of over 200 cryptocurrencies.

Digital Surge - Safest Crypto Exchange in Australia

Pros and Cons of Digital Surge

Pros Cons
It offers over two hundred cryptos. The site does not support transactions made through credit cards.
Easy-to-use interface to navigate. Only exchange supports currency deposits done through the AUD.
The site enables two-factor authentication for the users.
Live chat customer support option available. This makes it an easy crypto exchange.

Why Choose Digital Surge?Why Choose Digital Surge?

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Digital Surge Fees

The instant selling and buying fee on the site is 0.5%. The site’s crypto prices are quite competitive compared to the market price.

10. Kraken – Best Live Chat Support

Kraken, established in 2011, is a popular crypto exchange in Australia and an all-around exchange with advanced trading features, accessible to both beginners and advanced traders. It has over 65 cryptocurrencies, prioritizes customer security, maintains effective live chat support for clients, and offers reliable investment protection. Kraken exchange is one of the first best crypto exchanges to provide spot trading on various advanced products, including margin.

Kraken Crypto Exchange

Pros and Cons of Kraken

Pros Cons
It prioritizes security and follows strong measures like two-factor authentication, SSL encryption protocols, APIs, etc. The website is not available in many countries.
The website offers more than 65 buy, sell, or trade cryptocurrencies. There are no crypto wallet options.
Traders can trade instantly with the high-liquidity crypto exchange.
Customers at Kraken exchange can earn multiple rewards through staking.
The site offers useful videos and guides for beginners.

Kraken Fees

Kraken’s Instant Buy feature has a 0.9% fee on purchasing stablecoins with other stablecoins or USD and a 1.5% fee on purchasing stablecoins with cryptocurrencies. There is also a 1.5% fee on other trading pairs. Additional Kraken fees include –

  • 3.75%+$0.28 for debit/credit card payments.
  • 3.75%+$0.28 for digital wallet payments.
  • 0.5% for ACH or online banking.

Conclusion

These are some of the best platforms available in Australia that would work for both novice and expert traders. This article will get a complete list of the Best crypto exchanges Australia that will help you choose a suitable exchange to buy and sell crypto.

FAQs

What is the best way to buy Cryptocurrency in Australia?

To buy cryptocurrency, below are the steps to be followed:

  1. You need to pick a broker or a reputable crypto exchange.
  2. Then, create and verify your account.
  3. Deposit cash.
  4. Order your cryptocurrency.
  5. Select a storage method.

Which Crypto Exchange has the lowest fees in Australia?

Binance is the best crypto exchange Australia that offer the lowest trading fees to its users.

How to Choose the Best Crypto Exchange Australia?

Choosing the best would require some research on the user’s part, and they also need to understand their requirements and proceed accordingly.

Which Crypto Exchanges Have the Most Coins?

Currently, Binance holds the position of having the most coins.

Which is the biggest crypto exchange?

Of all the crypto exchanges in Australia, Binance is the biggest one. Larger crypto exchanges possess high liquidity levels.

Which is the safest crypto exchange in Australia?

CoinSpot is Australia’s safest crypto exchange due to the security and trust it has gained over the years.

Do you need a license to trade crypto in Australia?

To trade crypto in Australia, yes, you must hold an Australian Financial License (AFS).

Which Australian banks allow cryptocurrency purchases?

Judo Bank, Macquarie, Westpac, Chrono, Reserve Bank of Australia, and Commonwealth Bank allow cryptocurrency purchases.

Which app is best for crypto purchases in Australia?

The best apps in Australia are as follows:

  • Binance App
  • CoinJar App
  • Coinspot App
  • Swyftx App

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