Best Crypto Exchanges in Australia Updated September 2023

Trading limits are based on a progressive trading model, which is determined by your level of verification and the market youre trading in. For instance, fiat currency trades are limited to $5,000, while withdrawal limits start at 2BTC or its equivalent value in AUDs. You need to create an account, verify your identity, deposit AUD, then purchase the coin you like.

Binance Australia allows investors to instantly deposit and withdraw using AUD via PayID/Osko (NPP payments), which is supported by over 100 Australian banks and financial institutions. This is hugely important as other exchanges do not have instant AUD deposit options. This works both ways as funds from a Binance wallet – can be transferred to a bank account rapidly. Binance is trusted by 1 million Australians at the time of writing, making it the second-largest crypto exchange in Australia behind CoinSpot. For experienced traders looking for a trustworthy and safe crypto platform in Australia, Binance exchange is a smart pick.

Liquidity

Established in 2011, Kraken is one of the longest-serving and largest cryptocurrency exchanges with over 9 million clients worldwide. Perhaps one of the most notable features of eToro is its social and crypto-copy trading platform that’s basically a community where you can connect with other traders and replicate their trades. This allows you to share trading strategies & ideas, and most importantly, you can mirror trades from the best investors.

• Trading fees are 0.85%, which is higher than some other exchanges on this list, but still lower than CoinSpot’s 1% fee.
• It offers one of the widest range of investments, together with advanced technical trading tools.
• It’s important to compare the fees of different platforms to determine which one is the most cost-effective and suits your needs.
• Throughout this time, eToro has proved its reliability through minimal downtime and above-par customer support, positioning it as one of the most online trading platforms.

Ensure you consider factors such as security, customer support, trading fees, and cryptocurrency selection. Cryptocurrency prices are extremely volatile, and mobile apps protect you from missing out on trades by allowing you to conveniently trade on the go. Coinbase was launched in 2014 and is one of the best crypto exchanges in Australia. Even though its headquarters are in Fransisco, it’s fully compliant with Australian rules and regulations. Swyftx has accumulated an impressive customer base of over 600,000 Australians, which is partly due to the high quality of its services and features.

CHESS-sponsored ASX Trades

Serving over 9 million clients across 190 countries, it boasts an impressive $207 billion in quarterly trading volume. With a minimum investment of just $10, Australians can access over 200 cryptocurrencies, including major and emerging assets like Bitcoin, Ethereum, Solana, and more. The platform supports a variety of AUD payment methods, including Bank Transfer (EFT), PayID, Osko, and credit cards, enhancing user convenience. For this reason, some traders prefer to use exchanges that do not require any KYC information. Blockchain-based decentralized exchanges do not use KYC because they are not regulated by any third party authorities.

• A cryptocurrency wallet is an important tool for managing and storing your digital assets.
• Plus 500 is a trading platforms with no fees to deposit or withdraw funds, nor is there any account fees.
• Securing the fourth spot among Australia’s top cryptocurrency exchanges is Bybit.
• The default trading fees start from 0.1% per trade and can be reduced by staking Binance Coin (BNB) tokens or higher trading volumes.

A major disadvantage is that decentralised exchanges are much less user-friendly, not only from an interface standpoint but also in terms of currency conversion. Decentralised exchanges, for instance, don’t always allow users to deposit dollars and exchange them for crypto. This means you either have to already own crypto or use a centralised exchange to get crypto that you then use on a DEX. For this reason, many newer investors will stick to CEXs due to their ease of use and one-stop-shop functionality.

What Is The Cheapest Trading Platform In Australia?

However, you should know that this carries a 1% which is expensive compared most other Australian platforms. If you know how to place market orders on an exchange, then you can get better value for money on the exchange where the fees are 0.1%. The Bybit interface is world-class and offers a satisfying trading experience. The order books and order panels are neatly laid out in a crisp and modern fashion that is visually pleasing and provides a high degree of functionality. Independent Reserve is a crypto exchange that focuses on security, with optional insurance cover on your cryptocurrencies. CoinJar is one of the longest-running crypto exchanges in Australia, established in 2013.

• Finally, Skilling may be relatively new in the online trading scene – but it is heavily regulated nonetheless.
• It is difficult to find trading platforms with no spread, But, we have discussed low spreads through this guide on the best online brokers Australia.
• If you anticipate moving your crypto off of an exchange, you should choose a platform that allows a certain amount of fee-free withdrawals, like Gemini.
• However, there are several crypto trading platforms that stand out as top options in the Australian market.

ByBit knows how to create a perfect atmosphere for professional traders. It features a sophisticated spot market with over 300 crypto-to-crypto – trading pairs. They also offer multiple types of future and perpetual contracts with up to 100x leverage and an insurance fund.

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Personally, the most tempting feature of Binance is their super-affordable fees. Trading fees start from 0.1%, and you get an additional discount if you decide to use their Binance native token (BNB). However, business usage of crypto is taxed as part of business income or expenses. For the most up-to-date information, visit the official ATO Digital Assets guidelines for investors and business owners. Once you upload the above, all account restrictions will be lifted – which means you can deposit more than $2,250 and make a withdrawal request.

• With the Fight Out platform, users can monitor their physical activity and earn cryptocurrency as a reward.
• In addition, many newbie investors are unaware that most cryptos, such as Bitcoin are finite assets like gold.
• That shows that the provider offers a good service, but this might not be the case for customer support.

Here, you are introduced to multiple crypto trading, swap, and staking platforms. You even get access to a token launchpad where you can create, popularize, and successfully launch your own tokens. Uniswap is arguably the most popular decentralized exchange in the world today. It is also the largest DeFi platform, based on the total value locked on the three Uniswap versions. The Uniswap protocol is also one of the most liquid decentralized exchanges, having crossed processed more than $1.3 Trillion worth of crypto trades.

Binance – Best Cryptocurrency Exchange In Australia For Trading

Some platforms charge no share trading fee, while others may charge between £6 to £12 per trade. Trading fees for funds vary from zero to the same fee as trading shares. It offers one of the lower share trading fees of £3 for UK shares (for frequent traders). Interactive investor also offers the largest number of investment options, including access to 17 overseas markets for share traders. While the platform fee of 0.25% is at the lower end of the traditional platforms, this is charged on shares, as well as funds (although the annual platform fee is capped at £42 for shares).

• The interface is simple and basic which allows you to easily use cash to purchase crypto.
• You may also have to pay capital gains tax if you sell the shares for a higher price than the price you paid.
• Even worse, in the eyes of some crypto users, the company or organisation may require users to follow Know Your Customer (KYC) rules.

Kraken is not designed for the beginner and does require some trading expertise. When it comes to using leverage, there are plentiful derivatives trading markets supported, and multiple ways to use leverage up to 100x on its futures trading platform. These include futures contracts, inverse futures contracts, leveraged tokens, inverse contracts, and options trading. In addition, ByBit has world-class liquidity which is a major benefit for high-net-worth and experienced traders.

The Best Crypto Trading Platforms September 2023

Industry-standard security features include cold storage, a multi-signature withdrawal process, and two-factor authentication. Well-established cryptocurrency exchanges in Australia should employ various security measures to protect customers’ personal information to prevent the theft of funds and fraudulent activity. Check the exchange’s security page to confirm these measures are in place. Independent Reserve is a locally based exchange in Sydney founded in 2013. While the exchange’s main market is Australia, the company has expanded to other regions around the world such as Singapore and New Zealand. Of the many benefits, Independent Reserve exchange is most well known as a trusted crypto exchange that is geared towards high-net-worth individuals, institutions, and Super Fund investors.

• This means that if you are searching for an obscure altcoin to invest in, there is a good chance you can find it on CoinSpot before it lists on other Aussie crypto platforms.
• Investors can buy a wide range of overseas shares, and it charges one of the lowest foreign exchange fees of 0.5%.
• Bybit offers spot trading on more than 280+ coins, and has derivatives markets (USDT Perpetual contracts, Inverse Perpetual contracts, and Inverse Futures contracts) for more experienced traders.
• Remember trade types involving the latter are still evolving in the U.S., so different exchanges’ offerings may vary over time.

The platform is a revolutionary dApp that will allow community members to earn real-value rewards, connect with like minded others, expand their investment portfolio and encourage crypto adoption. BTC20 presale has been an instant success, garnering over $3.2 million as of July 27, because it gives room for investors to buy tokens at $1(a homage to Bitcoin). Its star feature is its staking model, which permits token holders to earn rewards over time. Investors can stake their $BTC20 to get periodic rewards based on the amount staked. It is built on the Ethereum network and is a stake-to-earn token alternative to Bitcoin. It brilliantly reflects the dynamics of Bitcoin when its price was just $1 in 2011.

Pros and Cons of Using a Crypto Exchange

However, ANZ’s mobile app does not allow you to view technical charts or place trades. If you’re based in Australia and looking for the best forex trading platform create in the market – Plus500 is well worth considering. This popular online platform gives you access to an abundance of currency pairs at super competitive fees.

Set up recurring deposits and have orders automatically trigger across a range of assets. Quantum AI algorithmic trading software supports both automated trading and manual trading. In the automated system of the software, you do not have to be involved in trading as the software will do it for you. In manual trading, the software provides you with data and information which will help you in trading. The first thing that one needs to do to start using Quantum AI is to register your account on the platform.

Payment Methods

You might be perfectly fine using a crypto exchange that only trades a few coins. Conversely, if you’re a crypto fiend, you may want access to all of the more than 600 available on Gate.io. This can be an issue if you prefer to move your crypto to a secure third-party wallet or onto another exchange. Additionally, DEXs reduce counterparty risk by eliminating the need for user funds to pass through a third-party cryptocurrency wallet during trading.

• Getting started can be confusing if you are new to crypto, while on the other hand, more experienced traders may want a platform that offers more advanced features.
• Whether you’re looking to trade forex, stocks, commodities, or Bitcoin – you’ll need to ensure that your chosen trading platform is right for you.
• For example, you may wish to convert your cryptocurrencies into other best cryptos to buy right now, such as Bitcoin, Etheruem, or Binance Coin, alongside various fiat currencies.
• Swyftx is by far our most recommended Australian cryptocurrency exchange, given that their trading platform is the easiest to use and their online wallet makes trading pain free.

Not only do they have one of the biggest variety of cryptocurrencies on offer, but they also have a very advanced trading interface that allows for multiple order types. Despite leaving the interface design behind, Independent Reserve has kept up with the Aussie market by providing competitive trading fees that start at 0.5%. If you’re trading volume meets certain criteria over 30 days then you can enjoy fee discounts as well. However, the trading volumes required for fee reductions aren’t as enticing as other crypto exchanges. Binance is the largest cryptocurrency exchange in the world based on trading volume.