10 Best Crypto Exchanges in Australia (2022 Updated)
There are hundreds of crypto exchanges on the internet, and probably, over a couple dozen in Australia. Choosing a selected few among them is not easy. We can’t make a list of the best crypto exchanges in Australia based on a single factor. What one person is looking for could be different from the other.
That’s why we’ve taken into account multiple factors, like trading options, fees, user-interface, features, security, etc. Go through the entire list of 10 of the best crypto exchanges in Australia and choose the one, or ones, that best suits your needs.
1. Binance Australia
Binance is a giant in the world of crypto exchanges. It’s not only one of the best in Australia but around the world. With the highest trading volume for any crypto exchange and a range of features, Binance has something for everyone.
On Binance, you can trade over 600+ cryptocurrencies, stake crypto (70+ coins) to earn passive income (interest) or even buy NFTs.
For trading, Binance offers a range of trading options like margin trading and Futures trading with 10x leverage and charges a low fee of 0.1%. The only downside of Binance is its lack of customer support and user-friendly interface.
2. KuCoin
Established in 2017, KuCoin has built a huge user base of over 11 million crypto enthusiasts. In many ways, KuCoin could have been the best crypto exchange in Australia if not for a few downsides.
With 600+ cryptocurrencies, a low trading fee of 0.1% and advanced trading options like margin trading and derivatives, KuCoin is an ideal choice for experienced crypto traders. It even offers free bots to automate your trading strategies.
The only downside is – there is no fiat market, meaning you can only trade crypto for crypto (stablecoins can solve this problem, though), and you can’t withdraw AUD from your account. Plus, the purchase fee to buy crypto is as high as 3%-12%.
3. Bybit Exchange
Founded in 2018, with over 220+ supported cryptocurrencies, ByBit has quickly become one of the go-to exchanges for crypto traders in Australia.
The exchange features spot trading as well as derivatives trading, with high liquidity. It also supports margin trading with 100x leverage, quite rare in most crypto exchanges.
ByBit offers some of the lowest fees in the market, with market makers and takers paying 0.1% fees on spot trading and 0.01% (market makers) and 0.06% (takers) on derivatives trading.
The only drawback of ByBit is its lack of support when it comes to having a fiat market or AUS deposit and withdrawal.
Other than that, ByBit has a plethora of advanced charts and analytical tools, making it an ideal choice for crypto traders.
4. Swyftx
Swyftx is one of the best crypto exchanges in Australia (in all aspects). Since its launch in 2018, it has quickly become one of the favorites for Australian crypto investors and traders.
The exchange doesn’t require you to verify your identity or provide any documentation to sign up and start using the platform. Great for people that prefer the privacy of decentralized crypto exchanges, but at the same time, don’t wanna compromise on the accessibility and features of centralized exchanges. Plus, it supports free deposit and withdrawal of AUD, something that ByBit lacks.
With over 320+ supported cryptocurrencies and low trading fees of 0.6%, it’s an ideal choice for anyone looking to dip their toes in the crypto market.
Not to say that Swyftx isn’t for experienced traders, but the lack of advanced trading options, like margin trading and Futures trading, may discourage some people.
5. CoinSpot
In this list of best crypto exchanges in Australia, CoinSpot is probably the most trusted and legit of them all. It’s the only exchange in Australia to receive the ISO 27001 certification. But that’s not the only strength of CoinSpot.
CoinSpot offers a wide range of cryptocurrencies to trade and invest in, with the ability to stake crypto as well. It also has an NFT marketplace. And trading fees are as low as 0.1%.
The platform is extremely easy and user-friendly, especially for beginners. Free of charge AUD deposit and withdrawal are also available.
The only downside is the lack of advanced trading options like margin and Futures trading.
6. eToro Australia
In this list of best crypto exchanges in Australia, eToro is an outcast, as it’s not exclusively a crypto exchange. eToro is largely a broker first, that offers a wide range of different markets to invest in.
eToro offers up to 75 different cryptocurrencies, along with advanced trading features, like margin trading and Futures trading. The fee structure of eToro is rather difficult to understand, let alone explain.
The platform has some quirky little features that enhance its overall user experience, especially for beginners, including CopyTrader, where you can copy your favorite trader’s trades and a social media platform, where you can interact with other people.
7. Cointree
Cointree is a rather simple yet effective platform for newbies. It has over 160 cryptocurrencies to trade from. You can crypto with AUD, paying a fee of 0.9%.
There’s nothing much to say about it, except it has a feature that allows you to pay bills using Bitcoin. Sure, this crypto exchange lacks many advanced features and options, but it’s a great stepping stone for beginners.
8. Digital Surge Exchange
Digital Surge is really one of the best crypto exchanges in Australia. It’s a combination of all the good things you would want in one platform.
You can buy, sell and trade over 300 cryptocurrencies and earn interest on 13 of them. You can also pay your bills using crypto if that’s something you would wanna do.
Plus, it also allows you to set up and invest in a crypto SMSF. Many people use this platform for just that.
The trading options are limited, as there are no advanced markets, such as derivatives. Nonetheless, it’s still an incredible platform for newbies. The trading fee of 0.5% on Digital Surge is a little higher than some of the other entries on this list.
9. Coinstash
Other than the high trading fee of 0.85%, Coinstash is an overall impressive crypto exchange. It offers all the features and options for traders and HODLers alike.
Coinstash offers over 410 cryptocurrencies to buy, sell and trade from. You can also earn interest on some of them. Traders have access to a range of simple but effective trading charts and tools and excellent customer support.
AUD deposit and withdrawal are also free on this platform, but options are only limited to bank transfer and PayID.
10. Crypto.com Australia
Crypto.com doesn’t offer anything unique but does enough to enter this list of best crypto exchanges in Australia.
With over 250 supported cryptocurrencies and 47 coins available for staking, Crypto.com is a great platform for beginners and intermediates in the crypto market. The platform also has an NFT marketplace for those interested in it.
One of the defining features of Crypto.com is its security measures and commitment to safeguarding user funds. They have a $750M crypto insurance that protects users from physical damage, destruction, and third-party theft. So, you can invest and trade in crypto on Crypto.com stress-free.
Much like Coinstash, AUD deposit and withdrawal are also free of cost on Crypto.com. However, spreads on buying crypto are relatively higher than some of the other exchanges on this list.
Final Thoughts
Depending on what kind of activities you’re about to indulge in, this list has everything for everyone. If you want to go all out with crypto trading, there’s probably nothing better than ByBit or KuCoin.
That’s not you? Want something more simple and more suitable for long-term investors? Maybe consider CoinSpot or Swyftx.
Want something easy? Something that suits beginners and newbies? You got Cointree. Want the best of all worlds? You got Binance.
The bottom line is this list of best crypto exchanges in Australia has something for everyone.
If you’re gonna trade, HODL or stake crypto, make sure you know their tax consequences. If not, you can check out our guide on crypto taxes in Australia and how to avoid (reduce) them.