Explore the 10 most popular and trusted crypto exchanges in Australia
Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin have grown in popularity and profitability among Australian investors. According to a Finder poll, 25% of Australians possess cryptocurrency, and the country ranks 40th in the world for crypto usage. However, purchasing and selling cryptocurrency is not as straightforward as going via a bank or a stockbroker. Crypto investors must utilize a crypto exchange, which is a platform that allows them to swap crypto for fiat currency or other cryptocurrency.
There are hundreds of crypto exchanges available in the market, each with its features, fees, security, and reputation. Choosing the right crypto exchange can make a big difference in your crypto trading experience, as well as your profits and losses. To assist you in finding the best crypto exchange for your requirements and tastes, we have produced a list of the top ten most popular and trustworthy crypto exchanges in Australia based on Google searches. We assessed these exchanges using a variety of factors, including security, costs, functionality, and the number of tradable cryptocurrencies. Whether you are a newbie or an expert trader, an altcoin fanatic, or a margin trader, this list will help you choose an exchange that suits you.
CoinSpot: Best Overall
CoinSpot is Australia’s most reputable cryptocurrency exchange, with over 2.5 million registered customers. It has been a fixture in the cryptocurrency scene since its founding in 2013. CoinSpot, a platform for both novices and experienced traders, provides a frictionless experience, comprehensive security measures, and a diverse choice of digital assets.
Swyftx: Best for Staking Rewards
Swyftx, a well-known cryptocurrency exchange in Australia, has over 500,000 members and is notable for its staking payouts on cryptocurrencies like as Cardano, Polkadot, and Tezos. Swyftx caters to investors seeking passive income with an easy-to-use interface, a quick verification process, and a large variety of 300+ cryptocurrencies.
Kraken: Best for USD Trading and Advanced Traders
Kraken, a prominent worldwide cryptocurrency exchange with over 8 million customers, provides great liquidity, minimal fees, and advanced trading options such as margin and futures trading. Kraken distinguishes out for its security precautions, which include FinCEN registration and strong security methods such as two-factor authentication and cold storage.
Binance Australia: Best for Altcoin Trading and Low Fees
Binance Australia, a branch of the globally renowned Binance crypto exchange, caters to investors with over 250 cryptocurrencies, including rare coins. Despite low fees and advanced features like margin trading, recent disruptions in AUD bank transfers have prompted the platform to explore alternative payment solutions, ensuring continued accessibility for users.
Coinbase Australia: Best for Learn and Earn Program
Coinbase Australia provides a variety of payment alternatives for AUD transactions, including bank transfers, credit or debit cards, and PayPal. Users may add funds to their Coinbase Australian Dollar balance using their bank accounts by selecting the chosen transfer type and entering their PayID or BSB and account number. Despite the recent interruptions in AUD bank transfers, Coinbase Australia continues to provide several payment methods to support cryptocurrency transactions in Australian dollars.
CoinJar: Best for Low Spot Market Fees and Crypto Debit Card
CoinJar, a recognized Australian cryptocurrency exchange with over 400,000 customers, provides a variety of payment alternatives for AUD transactions. Users can make deposits by bank transfers, BPAY, PayID, and cash deposits. Despite recent interruptions in AUD bank transfers, CoinJar continues to provide cheap fees: 0% for spot market trades and 1% for fast buys and sells.
ByBit: Best for Margin Trading and Crypto App
ByBit, a fast-expanding cryptocurrency exchange with over 2 million customers, provides leverage of up to 100x, futures trading, and everlasting contracts. It allows a variety of payment options, including bank transfers, credit/debit cards, and third-party processors. ByBit offers cheap costs, beginning at 0.075% for maker orders and 0.025% for taker orders. The platform focuses on security with methods like two-factor authentication and cold storage, registered with the BVI Financial Services Commission.
eToro Australia: Best for Copy Trading and Stocks and Cryptocurrencies
eToro Australia is a prominent and trustworthy cryptocurrency exchange with over 20 million customers. It accepts AUD payments via bank transfer, credit or debit card, and PayPal. It also charges modest fees: 0.75% for market trades and 0% for fast buys and sales. eToro Australia is registered with ASIC, the Australian regulatory body for financial services, and adopts strong security procedures such as two-factor authentication, encryption, and cold storage.
Coinstash: Best for Altcoins
Coinstash, a promising Australian cryptocurrency exchange with over 50,000 members, provides access to over 200 cryptocurrencies, a user-friendly design, and a variety of payment alternatives for AUD transactions. With modest costs of 0.8% for market trades and 1.5% for quick transactions, Coinstash stresses security with features like two-factor authentication and cold storage. It is registered with AUSTRAC.
KuCoin: Best for Emerging Altcoins
KuCoin is a popular cryptocurrency exchange that provides a variety of services, including access to over 700 coins and over 400 markets. It is especially popular among cryptocurrency traders because of its low costs, user-friendly interface, and high degree of security. KuCoin also offers several services, including futures and margin trading, cryptocurrency purchases using credit and debit cards, peer-to-peer exchange, crypto lending and staking, and initial exchange offerings for new projects.
