To help navigate the complicated world of crypto, we've launched a comprehensive review of cryptocurrency exchanges available in Australia.
Our goal is to recognise and award exchanges that excel in one of the following categories: Overall, Value, Beginners, Instant Purchases, Altcoins, Extra Features and Advanced Trading.
These awards are then used to inform our "Best for" selections across many of our cryptocurrency guides.
We analyse more than 1,100 data points across 16 cryptocurrency platforms in Australia to find winners in 7 different categories. Approximately 100 hours went into data collection, review and analysis.
Awards are based on quantitative criteria which are weighted and scored for each category.
A total of 16 cryptocurrency platforms were eligible to be reviewed as part of the awards program.
In order to qualify, platforms must be registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as Digital Currency Exchange or hold an Australian Financial Services License (AFSL). They also had to pass Finder's internal due diligence process, which is a requirement for all platforms listed on our website.
Platforms were scored on a set of criteria chosen by Finder's cryptocurrency experts and data analysts.
Criteria were based on publicly available data. If data was unavailable, we contacted platforms and requested the data. Some platforms declined to provide missing data and received a score of zero for that criterion as a result. The criteria were then weighted differently for each award.
For instance, criteria that related to fees were up-weighted for the "Value" award, while criteria related to advanced trading products received a weighting of zero for that award.
The exchange that scored highest in each award was named the winner, with the exchanges that scored second and third highest each receiving a highly commended award.
Awards are based on a comprehensive list of 38 individual criteria that fit into one of the following 7 categories:
Criteria and weightings were chosen by an expert panel of Finder crew, including data analysts and editorial staff. They took into account user experience, industry standards and regulatory requirements. We defined a spot market as an exchange with an order book.
Each individual criterion received a weighting, which varied depending on the award. Each award has a unique combination of weightings. Customer support and security were considered in all awards.
The weighting of each category for individual awards is outlined below.
This award focuses heavily on fee data. The main focus is the spot market, followed by instant purchase fees. It also considers payment methods as well as the number of coins available.
This award captures a wide range of factors that all contribute to a beginner-friendly experience for users. In addition to beginner-friendly features, customer service, value for money and access to instant purchase features contributed significantly to this award.
A small number of brands were excluded from this award at the discretion of editorial staff after conducting hands-on research.
This award highlights exchanges that provide a comprehensive instant purchase experience with an emphasis on value for money.
This award focuses heavily on the number of coins and tokens available on the exchange, in addition to liquidity and trading pairs.
This award spotlights exchanges that offer a broad range of features on top of the standard trading experience, such as NFT markets.
This award takes into account advanced trading features such as order types and charting tools as well as regulatory compliance, liquidity and fees.
The Overall award was given to the exchange that had the highest average score across each of the 38 criteria.
No. We perform due diligence on exchanges before listing them on our website.
As a result, we purposely choose not to compare some exchanges, as we consider these platforms unsuitable for various reasons.
For example, a platform may be excluded because it is not appropriately registered with local regulators like AUSTRAC or offers high-risk products without the appropriate licence.
Despite this, our list of exchanges accounts for the bulk of retail use in Australia and represents the majority of popular and well-regarded providers.
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