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Insights15 Leading Cryptocurrency/Bitcoin Exchanges In Australia (Update for 2022)
Cryptocurrency trading has grown in leaps and bounds. If you plan to buy Bitcoin and alternative coins, using top crypto exchanges is the most suitable way.
You have probably heard about cryptocurrency exchanges. However, there are different types of crypto exchange, and choosing the best can be challenging.
This guide explores the leading crypto exchanges/apps in Australia and gives you comprehensive knowledge about investing in Bitcoin and cryptocurrencies.
Based on our research, below are the top Australian cryptocurrency exchanges that you can buy bitcoin in Australia today.
List Of Best Crypto Exchange & Apps in Australia
● #1 Coinspot - Beginner-friendly exchange in Australia
● #2 Swyftx - Most trusted Australian crypto exchange
● #3 Digital Surge - Best for AUD transactions
● #4 Binance AU - Famous low fees Bitcoin exchange
● #5 Independent Reserve - Safe Crypto exchange in Australia
● #6 FTX - The fast-growing low fees crypto exchange
● #7 Coinjar - Australian alternative cheap exchange
What Type Of Cryptocurrency Exchanges Are There?
Cryptocurrency exchanges are online platforms that allow investors to buy digital coins at the market price. They get commission fees from spreads or charging service fees as a third-party platform.
In general, there are 4 types of cryptocurrency exchanges:
Centralized exchanges: Many crypto exchanges are centralized, and allow you to buy or sell Bitcoin with fiat or cryptocurrencies. A centralized platform is managed by a single entity, which acts as an intermediary during the transaction. The entity fills transaction orders and stores funds. Central exchanges generally charge a transaction fee.
Decentralized exchange: Decentralized exchanges have no central control and are not subject to regulatory agencies' rules. This means that people who trade on the platform do not have to verify their identity and can use the platform freely, regardless of regulations
Peer to Peer Exchanges: It's just like a dating service platform, matching the buyers and sellers. They provide hosting services to reduce the risk to both parties.
Derivative Trading Exchanges: In the derivatives market, you trade the price of the underlying asset, allowing investors to enter the market quickly. The exchanges allow you to use leverage to trade tools like futures, options, and leveraged tokens.
Leading Australian Cryptocurrency Exchanges Of 2022 Review
#1 Swyftx - Most trusted Australian crypto exchange | |
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Swyftx is a Milton-based cryptocurrency exchange founded in 2017. It is the most popular and one of the fastest-growing cryptocurrency trading platforms in Australia. The exchange offers over 300 digital assets and altcoins. Swyftx has good spreads and great liquidity. It also has lower fees, and frequent promotions and is a cheaper alternative to CoinSpot. | |
Country: Australia Currency: AUD Deposits: Bank transfer, Credit/Debit card, Crypto | |
Pros | Cons |
√ Low fees and spreads √ Transaction fees as low as 0.6% √ SwyftX accepts debit and credit cards | × Only instant purchase × No leverage and margin trade |
#2 Coinspot - Beginner-friendly exchange in Australia | |
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Founded in 2013, CoinSpot is one of the best cryptocurrency exchanges in Australia. It aims to ease the buying and selling of cryptocurrency coins and altcoins. The crypto exchange supports more than 330 cryptocurrencies. | |
Country: Australia Currency: AUD Deposits: POLi, PayID, BPAY, Cash payments | |
Pros | Cons |
√ Simple and straightforward app √ lower fees for trading | × Only available in Australia |
#3 Digital Surge - Best for AUD transactions | |
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Digital Surge offers fast deposit and withdrawal options to Australians. You can even pay your bills with Cryptocurrency. You don't need to worry about currency conversion expenses. Digital Surge's founders have extensive experience in IT, which has enabled them to create the most distinctive interface for a user-friendly experience. | |
Country: Australia Currency: AUD Deposits: Bank transfer, PayID, POLi, Crypto | |
Pros | Cons |
√ Quick and easy sign-up process √ Low and transparent fees | × Accepts Australians only |
#4 Binance AU -Famous low fees Bitcoin exchange | |
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Binance is the largest cryptocurrency exchange in the world. According to Coinmarketcap, Binance records a 24 hours trading volume of 100 billion Australian dollars from over 90 million registered users. Binance appeals to most investors because of the wide variety of digital assets. It allows you to trade, buy and hold over 600 cryptocurrencies. Moreover, it has integrated colossal investment tools into the world of cryptocurrencies. Whether it is stocks, futures, or loans, you can find corresponding investments on Binance. But that is not all. Binance is highly secured and has an attractive VIP plan. Binance's fees are very low compared with Australian competitors, starting at 0.1%. So Binance is a fairly cheap crypto exchange for Australians. | |
Country: Global Currency: AUD, USD, GBP, EUR and more Available Crypto：400+ iOS and Android: Yes Deposits: PayID, OSKO, Crypto | |
Pros | Cons |
√ Multiple payment methods √ The most widely used exchange in the world √ Wide range of features | × Wide range of features can be overwhelming |
#5 Independent Reserve - Safe Crypto exchange in Australia | |
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Independent Reserve is one of the leading Australian cryptocurrency exchanges. The Sydney based firm was founded in 2013 and primarily serves consumers in Australia and New Zealand. However, it extends its services to customers in more than 30 countries. Independent Reserve charges a fixed fee of 0.5% based on 30-day transaction volume. As transaction volume surges, the trading platform fees decrease to 0.02%. The price structure suits users who invest a significant amount of money as they enjoy lower fees. | |
Country: Australia Currency: AUD & NZD Available Crypto：13+ iOS and Android: Yes Deposits: Bank transfer, Osko, SWIFT, PayID, POLi, etc. | |
Pros | Cons |
√ Powerful safety feature √ Multiple payment methods | × Minimum deposit of Up to 5000 USD × Has a limited number of crypto options |
#6 FTX - The fast-growing low fees crypto exchange | |
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FTX was founded in 2019 as a cryptocurrency derivatives exchange and the world's fastest-growing Bitcoin trading platform. The FTX exchange currently has over one million users and a $12 billion daily trading volume. FTX offers a diverse set of services fully accessible to Australians. First, the crypto exchange supports over 130 different cryptocurrencies. Additionally, FTX Exchange offers cutting-edge services, such as futures, options, tokenized equities, and leveraged tokens. Also, FTX allows you to make deposits free in ten different Fiat currencies at a modest transaction charge of 0.02/0.07% of maker/taker fees. FTT tokens traders get a discount. | |
Country: global Currency: AUD Deposits: Bank transfer, Credit/Debit card, Crypto | |
Pros | Cons |
√ Low transaction fees √ Support advanced markets | × No live chat × Expensive withdrawal fee |
#7 Coinjar - Australian alternative cheap exchange | |
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Coinjar is a very popular cryptocurrency trading broker in Australia that allows you to buy and sell various cryptocurrencies. Although the platform is not regulated by any well-known financial institution, it is registered with the Australian Transaction Reports and Analysis Center. | |
Country: Australia Currency: AUD, GBP Available Crypto：30+ iOS and Android: Yes Deposits: Blueshift, BPAY, NPP, Cryptocurrency, PayID | |
Pros | Cons |
√ Low fees and spreads √ Transaction fees as low as 0.6% √ SwyftX accepts debit and credit cards | × Only instant purchase × No leverage and margin trade |
Alternative Cryptocurrency Exchange & Apps for Australians
#8 Kraken
Kraken is one of the oldest and best Bitcoin exchanges. It's always featured in the top 10 crypto exchanges list in terms of the trading volume. This U.S.-based exchange has top-notch security systems and has never been hacked. It is also one of the few cryptocurrency exchanges that provide advanced trading tools such as margin, Future, Staking. But many users complain about the confusing features on its trading platform.
#9 Coinmama
Coinmama was founded in 2013 and is one of the most popular and reputable cryptocurrency brokerages. It has grown to serve more than 1 million customers in over 180 countries. What's more, Coinmama allows you to buy Bitcoin via debit or credit card. However, this platform only supports 10 crypto coins.
#10 Coinbase
Coinbase is one of the most popular and biggest cryptocurrency exchanges. This crypto trading platform is available in over 32 countries and is used by 89 million verified users and over 10,000 institutions. Coinbase offers different payment methods to users based on their location. For instance, Aussies can buy Bitcoin and Ethereum using their credit and debit cards.
#11 Bittrex
Bittrex is a US-based cryptocurrency exchange that has become increasingly popular. Its staff comprises outstanding employees drawn from Microsoft, Amazon, Qualys, and Blackberry.
#12 CEX.io
CEX.IO is one of the best cryptocurrency exchange platforms with IOS and Android apps. The London exchange accepts fiat currencies and major crypto coins for trading. The best part is that it has negative balance protection, and users can trade with up to 10x leverage.
#13 okEX
Founded in 2014, Okex is one of the biggest cryptocurrency exchanges in the world. This platform offers fiat-to-crypto and crypto-to-crypto trading on 100+ digital currencies. Additionally, it has a user-friendly interface that provides various options and opinions. It's not only good for experienced traders but also beginners.
#14 Huobi Global
Huobi is a Singapore-based global cryptocurrency exchange, provides hundreds of different cryptocurrencies for investors. It ranks among the top ten cryptocurrency exchanges in the world by volume. Additionally, Huobi is among the top cryptocurrency exchanges in terms of quantity, liquidity, and reputation.
#15 Bitmex
Bitmex is an HK-based P2P Crypto derivatives trading platform focused on experienced traders. They only support advanced options such as 1: 100 leveraged margin trading.
Different Way To Trade Bitcoin CFDs with Broker
Numerous forex CFD brokers support cryptocurrency derivative trading. You can trade and speculate cryptocurrencies as an over-the-counter product with contracts for difference (CFD).
Read more: >> What Is CFD Trading? Guide for Beginners
This option allows you to trade crypto with margin and leverage like the forex market. You get profit from the differences between the opening and closing prices of the underlying asset.
When trading (BTC/USD), you can go long (buy) or go short (Sell) Bitcoin based on the price direction.
If CFD trading sounds like something that appeals to you, Mitrade is a good starting point.
Mitrade - Multi-assets CFD trading App | |
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Mitrade is an Australia-based CFD trading platform regulated by ASIC. It provides online trading on over 300 markets, including Forex, commodity, shares, and Cryptocurrency. The platform provides users with an easy-to-use trading system, including real-time charts, news, and economic calendars. They also provide Negative Balance Protection for traders, which can help limit your loss. | |
Country: Australia Currency: AUD, USD Deposits: Bank transfer, Credit/Debit card, PoLi | |
Pros | Cons |
√ Simple and intuitive trading platform √ 0 commission and low spreads √ Control your leverage from 1-30X √ Provide negative balance protection | × All of the markets are CFD |
* CFD is a leveraged product and can result in the loss of your entire capital.
How To Choose Your Best crypto Exchanges?
Choosing an excellent cryptocurrency exchange is vital because you risk losing your investment and incurring financial losses if you make the wrong decisions.
Ideally, choose at least 5 good Bitcoin exchanges that you like, and analyze them before making a decision. Let's look at important factors to consider when choosing an ideal crypto exchange.
● Payment Methods
Some cryptocurrency exchanges don't support fiat currency, meaning you can't purchase crypto coins using a debit/credit card. Therefore, you should choose a cryptocurrency exchange that supports multiple payment options, such as PayPal, wire transfer, debit/credit card to trade easily.
● Number of Cryptocurrencies Supported
There are over 8,000 cryptocurrencies, but some exchanges support just a few. If you are a long-term crypto investor, choosing to invest in Bitcoin is a good choice. However, experienced traders might want to diversify their portfolios or buy derivative financial products, such as crypto futures and CFDs. Therefore, you should choose a crypto exchange with a wide range of trading options.
● Low Trading Fees
Choosing a cryptocurrency exchange with low trading fees will save you some money. Before you settle on a cryptocurrency exchange platform, ensure you check the related information on the website, such as the deposit, transaction, and withdrawal fees. Fees may vary greatly from exchange to exchange.
● Good Reputation
The best way to learn about a crypto exchange is to search for reviews from users and well-known websites. You can check the license, regulatory agency, and contact details. A trusted crypto exchange should be informative and comprehensive. You can also ask any questions on forums like Facebook groups or Reddit.
● Simplification, Efficiency, And High Liquidity
Cryptocurrency exchange platforms come with great features like flexible payment options, high liquidity, and currency diversity. But for beginners, a good crypto exchange should be user-friendly and allow quick and easy deposit and withdrawal.
It's Your Turn
How do you choose the best cryptocurrency exchanges in Australia? Well, there are many factors to consider when rating top crypto exchanges. Beginners prefer a simple, user-friendly, and reputable platform where they can start trading immediately without challenges. The Australian crypto exchanges like Coinspot, Swyftx, Digital Surge, and Independent Reserve are good options for beginners.
On the other hand, professional traders seek cryptocurrency trading platforms with advanced trading tools, high leverage, and professional chart analysis. In this case, Binance and FTX are more suitable. You can also trade crypto in the forex market using CFD. If you are looking for such platforms, you should try Mitrade.
In general, novice and professional traders choose platforms with features that appeal to them.
Note that every platform has its pros and cons. Therefore, the best cryptocurrency exchange is one that suits your trading goals.
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* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
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Risk Warning: Trading may result in the loss of your entire capital. Trading OTC derivatives may not be suitable for everyone. Please consider our legal disclosure documents before using our services and ensure that you understand the risks involved. You do not own or have any interest in the underlying assets.