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11 Best Crypto Exchanges in Australia Updated in September 2023

Author: Published on: Published in: How To Day Trade Crypto: Unlocking $500 A Day Profits 2023 319

Look for exchanges that offer convenient methods, such as bank transfers, credit/debit cards, or digital wallets, to facilitate easy deposits and withdrawals. After conducting an extensive review of over 20 digital currency exchanges, we have pinpointed the leading platforms suitable for Australian investors. Following our rigorous exploration, we are pleased to deliver a selection of the top five platforms in Australia.

You have access to all of the same features and tools as the desktop trading platform. Boosting the value of your position allows you to trade with more than you have in your account. You can use this to speculate on a cryptocurrency’s value going down in bearish trends. Additionally, this top-rated crypto exchange offers a trading facility in addition to enabling you to buy and sell cryptocurrencies. With Coinbase Pro, you can trade digital currency pairs at lower commissions.

eToro – Buy Cryptos With 0% Commission in Australia

Leading exchanges like Binance and KuCoin have been hacked, resulting in tens of millions of dollars in losses. While exchanges often reimburse those whose coins are stolen, nobody wants to be in that position in the first place. While you’re ideally picking an exchange with the lowest costs, dwelling too much on the ins and outs of maker and taker fees can be counterproductive. That’s because you can’t choose whether your order is processed as a maker or a taker. Instead, you’re better served considering overall fees and any discounts available for trading a certain amount each month or holding an exchange’s native cryptocurrency.

Know what your requirements and what features you need, to make it easier for you to find a suitable exchange. Here are some of the key things to consider, click on each one to read more information. Choosing a crypto exchange that is registered with AUSTRAC, such as CoinSpot and Swyftx means that it is adhering to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws.

Platform Fees

So the Quantum AI trading software is perfect for both traders who want to trade on their own and also for people who do not want to be directly involved in trading. You can also customize the assistance that you need from Quantum AI as you want. The strategy applied by the software will give a person real-time insight into the market and will also notify them if any changes or fluctuations happen in the market.

  • 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.
  • Similarly, these platforms are not regulated so may not offer the same security as some centralized exchanges.
  • This feat has earned it global recognition, as seen in its many followers across different social media platforms within a short time.

However, the commission on buy and sell orders is 1.49% even though bank account deposits are free. Buying and selling cryptocurrencies like Bitcoin, Ethereum, and Ripple requires finding a top-rated crypto trading platform that will meet your needs. Choosing a crypto trading platform can be challenging when selecting hundreds of options. The best cryptocurrency exchanges of 2023 are revealed in this guide.

Decentralised Exchanges

Like most modern-day crypto exchanges, CoinSpot has two-factor authentication (2FA). Due to its bank-like safety measures, CoinSpot is regarded as one of the most secure exchanges in Australia to buy, store and sell crypto. CoinSpot is a long-established and reputable crypto trading platform based in Melbourne that was established in 2013. It is currently the largest crypto exchange in Australia with more than 2.5 million customers. Based on 1,940 existing customer reviews at the time of writing, CoinSpot has been rated with 4.4/5 stars on Trustpilot which is a testament to being a top crypto platform. 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.

Make sure the chosen crypto exchange provides an onramp for Australian Dollars or another preferred currency. The best choice for beginners investing in cryptocurrency for the first time is a fiat-to-crypto service or crypto broker such as Swyftx. These crypto exchanges accept AUD using widely available payment methods. The exchange has revolutionized the digital currency environment by providing a simple platform for beginners to buy and sell digital coins such as Bitcoin and Ethereum. As a result of its basic interface, it is an exchange utilized by many investors that are looking to build their first cryptocurrency portfolio. The beginner-friendly ethos has been transferred across to its native mobile application.

Australian owned and operated

You can also buy crypto in exchange for fiat but you must use a third-party provider for these transactions since ByBit doesn’t support fiat payments. You can feel the professional edge the very moment you step on the ByBit platform. The user interface looks pretty advanced because of the complex charting tools and the numerous trading options. immediate edge koch Still, I can’t say that the platform isn’t intuitive enough for sleek navigation across different markets. I’ve reviewed and ranked the best ones looking at factors such as ease of use, fees, trading features, customer support, and more. You can buy and sell digital currencies fee-free on eToro, an exception to the trading commission rule.

The downside of CoinJar is that there is a limited range of 50+ coins. The KYC (Know Your Customer) process has to be completed before you can trade on eToro since they are a regulated platform. Here, you can upload a copy of any government-issued ID, such as a passport, driving license, or visa. Next, you will need to upload either a bank statement or a utility bill as address proof. Using leverage in your trading will gain much more exposure to the market you are trading in than what you deposited to open the position. Thus, leveraged CFD derivatives can maximize both profits and losses.

Are Australian Exchanges the Best Choice for Local Traders?

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. 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.

  • Using their computers, miners worldwide create these coins out of thin air.
  • One of the main benefits of using the robot is buying, selling, and trading crypto on your behalf.
  • In essence, Bitcoin BSC introduces a novel cryptocurrency investment avenue with the potential to replicate the success of Bitcoin.
  • However, the best feature by far is the CoinJar Card, a crypto debit card that can be used at online or in-store retailers that accept Mastercard.

Before choosing a trading platform, consider whether the costs of trading outweigh potential profits. ASIC-regulated eToro is a great option if you are looking to combine online trading with a fully-fledged investment app. Available on both iOS and Android operating systems─ you’ll have access to all of the same account features.

Australian Crypto Exchange Cons:

Even established and reputable exchanges carry some risk, and crypto deposits are not insured by the federal government. Carefully consider the cryptocurrencies available on a given exchange. 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. Centralised crypto exchanges have beefed up security over recent years to address this risk. Among other strategies, they now store most customer assets offline and take out insurance policies to cover crypto losses in the case of hacking.

  • It is currently the largest crypto exchange in Australia with more than 2.5 million customers.
  • The section below provides an overview of each cryptocurrency exchange, its features, deposit methods, supported cryptos, trading fees and security.
  • You can buy CHMPZ tokens through presale, offering a great opportunity to acquire NFT passports at a low cost before the CHMPZ token value rises.
  • Not quite the selection compared to the likes of Swyftx and Binance, however, very serviceable nonetheless for beginners and altcoin traders.
  • By accessing the app, you can be in control of your assets in addition to trading wherever you want.

It’s a multi-asset trading & brokerage company that allows traders to invest in FCDs, Stocks, and Cryptocurrency. This platform has a highly intuitive and visual platform that is perfect for beginners but also incorporates advanced trading options – that expert traders would appreciate. Maker and taker fees start at 0.01% and 0.06%, respectively, which puts it on par with the likes of OKX. Other features that complement the Bybit platform include its dual price mechanism and insurance policy.

Binance: Largest Cryptocurrency Exchange in Australia

This financial body governs the digital industry in Australia and has established a set of rules and regulations that crypto exchanges must abide by. These Australian exchanges provide a level of assurance and safety measures to protect their customers. Kraken Pro uses a taker and maker system with trading fees of 0.16% and 0.26% respectively.

  • Bitcoin is also likely to be one of the most widely adopted cryptocurrencies and is already accepted as payment in a number of countries around the globe.
  • You can use this to speculate on a cryptocurrency’s value going down in bearish trends.
  • One of the most compelling features of CoinSpot is the support for several payment methods that will cater to a broad range of Australians.
  • An extensive list of currencies is available for users to trade, and trading fees are relatively low.
  • Remember that crypto trading is quite risky, and you should only invest what you can afford to lose.

With more than 3 million users, Bybit is an advanced platform for experienced traders, however, retains a high degree of intuitiveness that enables almost anyone to find their way around. In our opinion, we believe the best crypto exchange in Australia is Swyftx. This is based on important user factors such as beginner-friendliness, supported cryptocurrencies, deposit methods, competitive fees, overall trading experience, and excellent customer support. Coinbase makes our list of best exchanges due to its ease of use for beginners. Coinbase is also well-known for being a safe crypto exchange with no reported hacks or compromises of the security systems since its inception. Independent Reserve’s fee starts at 0.5% per transaction and can be reduced to 0.02% based on the past 30 day’s trading volume.

Best Crypto to Buy in Australia – Beginner’s Guide

Suitable for beginners and advanced traders alike, KuCoin provides users with free-to-use bots to reduce volatility, increase control, or automate altcoin trading. Some of the more popular trading bots include the spot grid, futures grid, smart rebalance, Dollar-Cost-Averaging (DCA), and infinity grid. Cryptocurrency vs the stock market differences include the profitability, safety, volatility, regulations, and maturity of stock vs crypto exchanges. There is no one-size-fits-all answer to the question of which crypto exchange is the safest. One of the key variables we used in evaluating exchanges was the platform’s security measures.

  • Binance is Australia’s top cryptocurrency exchange, offering more than 600 cryptocurrencies for trading.
  • The platform provides a vast array of trading options, including exchange trading, margin trading, margin funding (P2P lending), over-the-counter markets, and derivatives trading.
  • With the right assistance and perfect opportunities, anyone can double or quadruple their investment easily.
  • The risks of investing in anonymous projects like cryptocurrencies are also distinct as a critical flaw in the code may allow developers to steal cryptocurrency from investors by scamming them.
  • In addition, the platform supports bank account transfers and debit/credit card transfers.

As for customer support, I discovered they have both a live chat feature and support tickets available for direct communication. I also liked their dynamic customer support, with options such as support tickets, email, and live chat (during business hours only). 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.

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