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This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
Finding the best crypto exchange in Australia
Our investment experts have analysed more than 25 cryptocurrency exchanges available in Australia to make it easier for you to select the right one. Our best crypto exchange picks are based on the 2023 Crypto Trading Platform Awards and 2023 Finder Customer satisfaction Awards. We have only included exchanges that are registered with AUSTRAC or ASIC. Keep in mind that these picks are suggestions and that the exchange that is best for you will depend on your individual needs. There are other products on the market not included in our picks.
Why you can trust our research
25
Crypto exchanges analysed
1,500
data points
300+
hours of research
1. CoinSpot: Best exchange beginners and value
CoinSpot
Finder score
Supported cryptos
Fiat currency
AUSTRAC-registered
CoinSpot is one of Australia's longest-running exchanges and has over 2.5 million registered users. It's an excellent choice for beginner investors looking to dip their toes into the world of cryptocurrencies. CoinSpot won the 2023 Finder Awards for Best for Beginners and Best Value.
This Australia-based exchange has a user-friendly interface, making it easy for newcomers to navigate the platform and start trading over 380 cryptocurrencies.
One of the stand-out features of CoinSpot is its fast and straightforward purchasing process, which earned CoinSpot another Finder Award for Instant Purchases. The platform supports various payment options for AUD, including POLi payments, BPAY, and PayID, making it easy for investors to purchase cryptocurrencies quickly and efficiently.
In addition to speedy purchases, CoinSpot offers great value fees at just 0.1% for market and OTC trades. Instant buys, sells and swaps incur a 1% charge.
- Easy to navigate UI, with prices displayed in AUD
- AUD payment methods include POLi, PayID, BPAY and cash deposits
- Buy crypto bundles – a group of projects in a specific niche
- Inbuilt NFT marketplace
- Holds ISO 27001 security certificate and completed a successful External Statutory Financial Audit
- Advanced trading features are not as comprehensive as some competitor exchanges
- Crypto borrowing and lending aren't available
- Instant swap fees of 1% can be costly for large orders
Deposit Methods | Bank transfer,Credit card,Cryptocurrency,Debit card,PayID |
---|---|
Deposit Fees | Bank transfer and PayID: None Cash: 2.5% Card: 1.88% |
Withdrawal Fees | AUD: None Cryptocurrency: Fees vary |
Trading Fees | 1% |
2. Kraken: Best exchange for USD trading
Kraken
Finder score
Supported cryptos
Fiat currencies
AUSTRAC-registered
With over 185 trading pairs, Kraken is widely regarded as one of the best exchanges for USD trading. The platform features a professional trading interface, an NFT marketplace and an education hub.
Kraken regularly exceeds a daily trading volume of US$500 million and is renowned for its deep liquidity across high market cap trading pairs. Traders utilising Kraken Pro can take advantage of various order types such as stop-loss, market and limit orders with inbuilt TradingView charts.
Trading fees work on a volume system, meaning users trading in high volumes are rewarded with fee discounts, which go as low as zero for maker orders and 0.1% for taker orders.
- Advanced order types
- Customisable charting features
- Wide range of fiat currencies and forex trading
- Founded in 2011, one of the longest-running crypto exchanges
- Over 185 USD trading pairs
- No derivatives for Australians
- Fewer assets than some competitors
- Fined $30 million by the SEC in February 2023
Deposit Methods | Bank transfer,Credit card,Cryptocurrency,Debit card,PayID |
---|---|
Deposit Fees | Bank transfer, PayID or OSKO: None Cryptocurrency: Fees vary Credit and debit card: Fees vary |
Withdrawal Fees | Bank transfer/OSKO: None ($5 minimum withdrawal) SWIFT: $55 ($150 minimum withdrawal) Cryptocurrency: Network fees apply |
Trading Fees | Maker: 0.20 – 0.25% Taker: 0.35 – 0.40% |
3. eToro: Best platform for copy trading
eToro Crypto
Finder score
Supported cryptos
Fiat currencies
ASIC-registered
eToro pioneered the concept of copy trading back in 2010. Since then, the platform has expanded to include various social features, with a Facebook-style newsfeed that lets you engage directly with other traders.
eToro's copy trading feature allows you to view and mirror trades made by experienced investors. Getting started is easy – simply choose a trader you want to copy and then set your account to follow their trading set-ups.
With a minimum of US$200, you can automatically repeat trades from some of eToro's top-performing crypto traders. There is no additional fee charged for this service.
Beyond copy trading, eToro provides a comprehensive social experience, making it just as much a social media platform as a broker. Traders can discuss strategies, speculate on prices and share important news.
- Supports copy trading for crypto and stocks
- Pioneers of copy trading
- Strong community and social focus
- Offers an insurance fund
- Picking the right trader to copy can be difficult
- Foreign exchange fees for AUD deposits
- Limited range of cryptocurrencies
- Fees and spreads can be higher than on crypto exchanges
Deposit Methods | Bank transfer,Credit card,Debit card,PayPal,eToro Money |
---|---|
Deposit Fees | Fees vary - You'll pay up to a 3% currency conversion fee when depositing AUD |
Withdrawal Fees | AUD $5 (minimum withdrawal of US $30) - You'll pay up to a 3% currency conversion fee when withdrawing AUD |
Trading Fees | 1% |
4. Cointree: Best for crypto self-managed super funds
Cointree
Finder score
Supported cryptos
Fiat currency
AUSTRAC-registered
Cointree offers 7-day customer support, low trading fees and comprehensive tax tools, which is why it's our pick for the best exchange for self-managed super funds (SMSFs).
Cointree allows SMSF-eligible customers to add Bitcoin, Ethereum and other cryptocurrencies to their retirement portfolio. It supports over 280 assets on its platform with fees as low as 0.5%.
The process of opening and managing an SMSF can be complex and time-consuming. Cointree can assist with the process in several ways, including setting up a trust deed. The platform also provides digestible performance overviews to help review investment strategies. Users can compare their SMSF accounts to other top-performing investors and copy their portfolios.
The exchange is partnered with ExpertSuper and integrated with BGL Simple Fund 360 to meet your SMSF needs. It's always a good idea to consult a financial advisor before opening an SMSF.
- 280+ cryptocurrencies available
- Integration with SMSF experts
- 7-day customer support
- Comparatively high spot market fees
- No debit or credit card purchases
- No earn features
Deposit Methods | Bank transfer,Blueshyft,Cryptocurrency,PayID |
---|---|
Deposit Fees | Fiat: None PayID/Bank transfer: None Cryptocurrency: None |
Withdrawal Fees | Fiat: None Cryptocurrency: Fees vary |
Trading Fees | 0.5 – 0.75% |
5. Binance: Best crypto exchange for advanced trading
Binance Australia
Finder score
Supported cryptos
Fiat currencies
AUSTRAC-registered
![Binance Australia screenshot Binance Australia markets interface](https://www.finder.com.au/finder-au/wp-uploads/2022/03/BinanceAUSpotMarket_Supplied_1000x500.png)
- Low spot market fees
- Huge range of supported cryptocurrencies
- Comprehensive earning features
- SAFU insurance fund
- Smartphone app offers Lite mode for beginners
- Zero-fee Bitcoin spot trading for select pairs
- Website can be overwhelming for beginners
- Poor customer service score on Trustpilot
- Ongoing regulatory issues in the US, the UK and Japan
- Target of an on-going civil enforcement action by the US CTFC
Deposit Methods | Credit card,Cryptocurrency,Debit card,P2P |
---|---|
Deposit Fees | Cryptocurrency: None |
Withdrawal Fees | AUD: Not supported Cryptocurrency: Fees vary |
Trading Fees | Maker: 0.0120 – 0.1000% Taker: 0.0240 – 0.1000% |
6. Bybit: Best crypto app
Bybit
Finder score
Supported cryptos
Fiat currencies
AUSTRAC-registered
Bybit is a cryptocurrency exchange founded in 2018 and headquartered in Singapore. It's best known for its expansive range of features, in-depth trading experience and a best-in-class mobile app for trading on the go.
The Bybit app features a user-friendly interface that makes navigating and placing trades simple. It includes advanced trading tools such as real-time charts, order book depth and price alerts to help you make informed decisions and stay updated with market trends.
Bybit's uses industry-standard security measures to protect user data and funds. It has 2-factor authentication (2FA) and biometric authentication (fingerprint and face recognition).
The mobile app is available for download via the Apple store and Google Play and supports multiple languages including English, Chinese, Japanese, Korean and Spanish.
- Bybit's platform is easy to navigate even for new users
- Advanced trading tools such as real-time charts, order book depth and price alerts
- Bybit markets typically have deep liquidity
- Fully functional mobile app makes trading on the go easy
- Advanced security measures include multi-signature wallets, cold storage and 2FA
- Not registered with AUSTRAC
- Not all features are available to Australian users
- Foreign exchange fees for AUD deposits
Deposit Methods | Cryptocurrency,Moonpay,P2P,Banxa,Mercuryo |
---|---|
Deposit Fees | AUD: Fees vary Cryptocurrency: None |
Withdrawal Fees | Fiat: Fees vary Cryptocurrency: Fees vary ATM Withdrawal: 2% (after the first 100 USD monthly) |
Trading Fees | Maker: 0.005—0.10% Taker: 0.015—0.10% |
7. KuCoin: Best exchange for emerging altcoins
KuCoin
Finder score
Supported cryptos
Fiat currencies
AUSTRAC-registered
KuCoin lists an impressive array of up-and-coming altcoins compared to other centralised crypto exchanges, which is why it's our winner for this category.
Usually, to buy trending altcoins, you must purchase them through a decentralised exchange (DEX) like Uniswap or PancakeSwap, which requires learning how to use a Web3 wallet and a blockchain.
With KuCoin, all you have to do is create your account and you'll have access to over 700 digital assets.
Many of these assets are brand new, untested and much riskier than coins like BTC and ETH, so tread carefully.
- Provides access to 700+ crypto assets
- No Know Your Customer (KYC) process required to trade crypto-to-crypto
- Offers altcoin staking
- Relatively low trading fees
- Not registered with AUSTRAC as a digital currency exchange
- Numerous poor customer service reviews
- Emerging assets can be higher-risk investments
Deposit Methods | Credit card,Cryptocurrency,Debit card,P2P |
---|---|
Deposit Fees | Cryptocurrency: $0 Credit/debit card purchase fees vary |
Withdrawal Fees | Cryptocurrency: Fees vary |
Trading Fees | Maker: -0.005—0.100% Taker: 0.025—0.100% |
Advanced Trading Features | Yes |
Why you can trust Finder's crypto experts
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We're free
Our comparison tables are completely free to use. We link you directly to the platform's secure sign-up page and we'll never ask you for personal details. Better still, we regularly have exclusive offers that you won't find anywhere else.
![Image: Supplied expert advice](https://i.imgur.com/QP70WvC.png)
We're experts
We've researched and rated dozens of crypto exchanges as part of our Finder Crypto Trading Platform Awards. We've published hundreds of guides and our in-house experts are regularly called upon for commentary in Nasdaq and The Street.
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We're independent
Unlike other crypto media, we're not owned by an exchange or investment firm. Our opinions are our own and we put our readers first to help you find the crypto trading platform that's right for you.
![Image: Supplied help](https://i.imgur.com/qNdTOiT.png)
We're here to help
We're a team of crypto nerds with extensive experience in investing, trading and decentralised finance but we also remember how it feels to be a beginner. We give you first-hand reviews of what it's like to use these products – without jargon.
How to choose the best crypto exchange
It's important to research a wide range of platforms and compare the pros and cons of each option. The best crypto exchange for you depends on what you're looking for.
Consider the following factors when comparing crypto exchanges.
Using an AUSTRAC-registered exchange to buy cryptocurrency
There are plenty of places to buy crypto, including platforms founded here in Australia or based in locations all around the world. Exchanges headquartered locally are required to register with AUSTRAC and comply with requirements that don't apply to global platforms. Depending on your goals, this may have some benefits or drawbacks.
Pros
- Australia-based exchanges must comply with AUSTRAC's Anti-money Laundering (AML) and Counter-terrorism Financing (CTF) reporting obligations.
- You can usually buy crypto with Australian dollars.
- Exchanges in Australia typically support local payment methods.
- You may be able to access local customer support.
- Subject to local laws.
Cons
- You'll need to provide your personal details and proof of ID – a disadvantage if you want to trade anonymously.
- Overseas trading platforms may provide better liquidity.
- AUD-to-crypto prices are sometimes slightly higher than USD-to-crypto prices, meaning you sometimes pay a premium for buying directly with Australian dollars.
- Some features are simply not available on AUSTRAC-registered exchanges. For example, margin trading, DeFi features and some altcoins.
Compare cryptocurrency exchanges you can use in Australia
Use our table to compare crypto exchanges or platforms on fees, fiat currencies, deposit methods and more. Once you've found the right fit, select Go to site to get started.
How to use a cryptocurrency exchange
For the sake of our example, let's assume that you have AUD$500 that you want to use to buy Bitcoin.
- Compare cryptocurrency exchanges to find one that offers the right service for you.
- Register for an account on the platform, including providing any personal details and proof of ID required.
- Navigate your way to the "Buy" screen.
- Select Bitcoin as the cryptocurrency you want to buy.
- Select your payment currency, which in this case is AUD, and specify the amount you want to spend as $500.
- Select your payment method, such as a credit card payment or bank transfer.
- Enter your payment details, such as your account number and BSB if sending a bank transfer or your card number and CVV if paying by credit card.
- Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
- If you're happy to proceed, click "Buy BTC".
- Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address nominated by you.
How to buy Bitcoin in Australia
Back to topHow to pay for your cryptocurrency
You'll need to deposit funds on your cryptocurrency exchange or otherwise make a transfer. Bitcoin exchanges accept all sorts of deposit methods, including the following:
- Credit and debit cards
- PayPal and other online payment services
- Cash deposits
- Bank transfers
- POLi
- Prepaid cards
- Cryptocurrency transfers
- PayID, Osko and other NPP payments
- Wire transfers
The payment types accepted will vary between exchanges though, so it's worth checking to ensure your preferred payment method is supported before signing up.
It's difficult to find one exchange with all the coins and features you want. I spread my trading around several exchanges to make sure I'm getting exactly what I need, while also diversifying my risk should the exchange get hacked or shut down. To further reduce risk I use one registered locally so it's subject to local laws and regulations.
James Edwards
Finder's Global Crypto Editor
Risks of using a crypto exchange
- Cybersecurity breaches. Hacks and scams are, unfortunately, commonplace in the crypto space. Exchange-related security breaches and targeted phishing scams remain a major concern for exchanges and their customers.
- Not your keys. "Not your keys, not your crypto" is a common industry saying and refers to holding your digital assets in a wallet that another person or company controls, such as on an exchange. By storing cryptos on an exchange rather than in a non-custodial wallet, you're relinquishing full ownership of those assets and putting trust in a third party – which some may see as contradictory to the decentralised philosophy of crypto.
- Lack of consumer protection. While crypto exchanges are increasingly regulated in Australia and may be registered with AUSTRAC, they are still lacking a lot of consumer protections such as mandatory insurance or strict rules about how user assets are managed.
- Proof of reserves. Since the widely publicised collapse of FTX, many traders and investors have demanded centralised exchanges provide proof of reserves and user deposits. This may be done by a third-party auditor or through the use of on-chain data. Proof of reserves is still an evolving concept, and it's not clear yet what the best practices are or how reliable it will prove to be.
- Transaction limits. Most crypto trading platforms have daily deposit and withdrawal limits. This means that even though you may have, for example, 10,000 AUD available, you may not be able to access and withdraw the total balance. Transaction limits depend on the exchange and AUSTRAC stipulations and typically increase as you provide additional KYC information.
- Frozen accounts. Crypto exchanges freezing deposits and withdrawals can happen without warning. If your account is frozen, you will not be allowed to remove your funds until the exchange approves or denies your request. Precautionary measures such as only holding a trading balance on an exchange are recommended.
- Asset delistings. Centralised exchanges can opt to delist a cryptocurrency at any time. This can happen for numerous reasons, including poor asset performance, security concerns or anti-money laundering (AML) breaches. If delisting is taking place, you will be notified by the exchange and forced to sell your assets or remove them from the platform.
Is it safe to store your cryptocurrency on an exchange?
Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet, which lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired, while others will require you to have your own wallet at the time of purchase.
However, using an exchange for long-term storage is not recommended. As the exchange controls the private key to your wallet, you don't have total control of your funds. And with exchanges regularly (and sometimes successfully) targeted by hackers, storing crypto on an exchange long-term is very risky.
2023 crypto exchange industry predictions report
We polled 56 specialists in the fintech industry to get their opinion on what the future looks like for centralised crypto exchanges and what the demise of FTX means for the crypto industry.
The vast majority of our panellists (83.93%) don't think the collapse of FTX was the beginning of the end for crypto, while 8.93% think it was and 7.14% are unsure.
However, because of the FTX collapse, more than half of our panellists (58.49%) believe that crypto exchanges should be regulated just as much as other financial trading platforms.
22.64% believe that crypto exchanges should be regulated, but less so than other financial trading platforms. 15.09% don't believe that crypto exchanges should be regulated to the same degree.
Over one-third of our panellists (35.19%) believe all crypto exchanges will be regulated as traditional financial institutions by 2030. A further 22.22% believe this will happen by 2025 and another 14.81% think it will happen by 2024.
In the future, the majority of our panellists (86.79%) feel that crypto exchanges should be required to disclose both their proof of reserves (PoR) and records of their liabilities.
42.31% think that more crypto exchanges will face bankruptcy as a result of a reduction in their customer base. 15.38% believe this will play out over the next 5 years while a quarter (26.92%) think it'll happen within the year.
FAQs
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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