Best Crypto Exchanges In Australia August 2022 (10+ Reviewed)

September 22, 2022
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Best Crypto Exchanges Canada

Choosing the best crypto exchange in Australia isn't easy, given all the options and the different features each offer. As an avid cryptocurrency investor, I diligently keep up with the movements of the best crypto exchanges in Australia and make my selections below based on years of research and personal experience.

CoinSmart is the favourite among knowledgeable Australian crypto investors for its enterprise-grade security and zero trading commissions. If you're looking for a safe, cost-effective way to buy and sell crypto in Australia, I can't recommend CoinSmart highly enough.

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Offer ends October 4, 2022.

Here's something you may not realize: the cryptocurrency exchange you choose matters. Your choice will impact how profitable your trades are, how easily you can buy and sell coins, and in some cases, whether you get your money back at all.

There are many crypto exchanges available for Australians, but with so many options available, choosing one can be difficult. So if you're looking for a safe and secure cryptocurrency exchange that's very easy to use, supports the Australian dollar (AUD), and has full compatibility with all major financial institutions in Australia, you've come to the right place. I've been investing in crypto for over 8 years, and I tweak the list below almost every day.

Here are my expert picks for the best crypto exchanges in Australia:

  1. CoinSmart – Best Overall + $50 Signup Bonus
  2. eToro – Best For Social Trading
  3. Digital Surge – Best For Paying Bills
  4. Swyftx – Best For Altcoin Investors
  5. Independent Reserve – Best Trading Library
  6. ChangeNOW – Best For Crypto Loans
  7. Binance – Best Variety Of Coins
  8. CoinSpot – Best For Diversification
  9. Kraken – Best For Real-Time Data
  10. CoinJar – Best Crypto Debit Card

Without further ado, here's my breakdown of the best crypto exchanges Australia has to offer.

What Is The Best Crypto Exchange In Australia?

1. CoinSmart – Best Overall + $50 Signup Bonus

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 bonus ends October 4, 2022.

★★★★★

Rated 4.9/5

CoinSmart offers very low trading fees: just 0.2%. It supports 16 cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

As a Canadian exchange, CoinSmart is regulated by several Canadian financial authorities, which keeps your money safe and secure. CoinSmart is also a publicly-traded company on Toronto’s NEO stock exchange, which means they’re subject to third-party financial and security audits at least once per year.

I've personally used CoinSmart for over a year, and I’ve had nothing but excellent experiences with them. I've tried out many of the other cryptocurrency exchanges on this list, so I'm confident that CoinSmart is the best platform for most crypto investors.

From now until October 4, 2022, CoinSmart is offering a $50 signup bonus to Yore Oyster readers who fund their account with $200 or more. If you’re looking for a highly-respected exchange that offers the lowest fees, excellent customer service, and a slick mobile app, open a CoinSmart account today.

Features

  • Extremely low trading fees (just 0.20% per trade)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.20%

Signup Bonus

$50 bonus when you sign up using this link

Best For

Investors looking to trade stablecoins or altcoins with the industry’s lowest fees.

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Offer ends October 4, 2022.

2. eToro – Best For Social Trading

#1 Social Trading

Trading fees: 1%
Supports: 75+ coins
Customer support: Excellent

Best for social/copy trading.

★★★★★

Rated 4.6/5

eToro is a globally renowned brand with an easy-to-use desktop platform and mobile app, plus some of the industry's lowest fees (and spreads). It offers new users a demo account funded with $100,000—which you can use to trade with zero risk—and if you want to invest in more than just crypto, eToro also supports stocks, forex, commodities, and more in one place.

One of eToro's greatest innovations has been CopyTrader, which allows any eToro user to copy other investors' trades automatically in real-time. This allows even novice traders to make intelligent, timely trading decisions by piggybacking on others' knowledge. You can also post and comment on a Facebook-style newsfeed, making eToro a hybrid between a trading platform and a social network. eToro doesn't charge additional fees for these social features, a significant value add for users.

Australian eToro users' funds are insured up to AUD 1 million by Lloyd's of London, though this doesn't cover cryptocurrency held in your account. Still, eToro is one of the world's biggest, most reputable brokers, and it's invested millions of dollars into platform security over the years, making it a very safe place to invest.

eToro users can invest in crypto in one of two ways: either by buying the coins directly or buying crypto CFDs that track those coins' prices. If you choose to purchase crypto CFDs, you get extra benefits like the ability to short sell and buy crypto with up to 2x leverage.

On the downside, Australian users face foreign exchange fees of 0.5 – 1.5% both when depositing and withdrawing money to/from their eToro account, which can eat away at profitability. Fees on crypto trades are also 1%, which is more expensive than the best crypto exchanges at the top of this list.

eToro recently introduced staking functionality, though it's very underdeveloped right now, with only three coins (Ethereum, Tron, and Cardano) available for staking today, and poor APYs on all of them. If you're serious about staking crypto, you're better off choosing Swyftx or another platform on this list.

Features

  • Supports 75+ cryptocurrencies
  • Low trading commissions and tight spreads (around 0.1% – 0.3%) 
  • Short selling capabilities
  • Well-rated mobile app (4.7/5 on iOS, 4.2/5 on Android)
  • Funds insured up to $1 million AUD by Lloyd's of London
  • Up to 30x leverage (2x leverage on crypto)
  • Deposits/withdrawal methods include debit/credit cards, bank transfer, Neteller, PayPal, and Skrill
  • Regulated by ASIC

Cost

  • Trading fees: 1%
  • Spreads: 0.1% – 0.3%
  • Deposit fees: 0.5% – 1.5% currency conversion for AUD
  • Withdrawal fees: 0.5% – 1.5% currency conversion for AUD

Best For

Passive investors who prefer to copy others' trades.

3. Digital Surge

Brisbane-based Digital Surge supports 310+ cryptocurrencies, verifies most accounts within hours, and provides extra security for users through its robust cold storage policy and two-factor authentication (2FA). Its fees range from 0.5% to 1% based on trading volume and have low spreads (around 0.2% – 0.4%), making it one of the cheapest Australian crypto exchanges (aside from no-fee platforms like CoinSmart). Digital Surge also supports dollar cost averaging and stop loss and stop-limit orders, giving users more flexibility when trading.

Digital Surge has a user-friendly desktop trading interface with a mobile app for both iOS and Android. The platform is rated 4.7/5 on Trustpilot, and its customer support agents are available 24/7 through live chat inside the app or via the Digital Surge website.

One of Digital Surge's unique features is the ability to pay your bills with Bitcoin. All you need is a bill or credit card that accepts BPAY, and you can easily pay it off inside the Digital Surge app without exchanging your BTC back into AUD, saving you on fees. Users can only deposit money into their Digital Surge account via bank transfer (PayID), POLi, OSKO, and cryptocurrency transfer; credit card deposits are unavailable.

Digital Surge recently added staking capabilities for 13 coins, which pays users interest up to 23% APY. Interest inside of Digital Surge Earn compounds daily, there are no lock-up periods, and staking rewards are paid monthly.

Overall, Digital Surge is a decent option for buying and selling crypto in Australia. However, it's missing several of the key features offered by CoinSmart, not the least of which is the ability to trade with leverage. For that and other reasons, I recommend Digital Surge only if CoinSmart cannot verify your ID.

Features

  • Supports 310+ cryptocurrencies
  • User-friendly trading interface
  • Decent trading commissions (0.5% – 1%)
  • Good spreads (0.2% – 0.4%)
  • Rated 4.7/5 on TrustPilot
  • Deposit methods include bank transfers (PayID), POLi, OSKO, and cryptocurrency
  • Pay your bills with Bitcoin
  • 24/7 customer support via live chat and email
  • Quick account verification
  • Earn up to 23% APY with Digital Surge Earn
  • Registered with AUSTRAC and ASIC

Cost

  • Trading commissions: 0.5% to 0.1%
  • Instant Buy/Sell Order fees: 0.5%
  • Deposit fees (PayID): Free
  • Deposit fees (POLi): From $2 to $3.30
  • Bank withdrawals: Free
  • Crypto withdrawals: Network fees

Best For

Investors whose ID cannot be verified by CoinSmart.

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4. Swyftx – Best For Staking

Registered and regulated by AUSTRAC, Swyftx is both a crypto exchange and a staking platform for various cryptocurrencies. It supports 320+ coins and offers a demo account where users can test their strategies with paper money before making actual investments.

When it comes to staking, Swyftx Earn users can earn interest on 20 cryptocurrencies ranging from 5.12% (on Bitcoin) to 101.24% (on Axie Infinity). Swyftx doesn't require a lock-up period, which means users can stake and withdraw their assets at any time without penalty. Staking rewards are paid daily, and the minimum staking amount is just AUD 1. Users can even earn staking rewards on AUD stablecoins, which is a nice perk.

Swyftx is rated 4.7/5 across more than 4,000 reviews on Trustpilot, and it offers fiat currency pairs for every coin it supports, which helps keep fees low. However, it's also relatively closed about its security practices (for example, it claims to have a cold storage policy but doesn't disclose what that policy is), which is generally not a good sign.

On top of that, Swyftx's fees are relatively high compared to other exchanges: it charges a 0.6% trading commission plus spreads of 0.41% and up, which means you pay at least 1% on every trade. Compared with no-fee, low-spread platforms like CoinSmart (where the fee + spread tends to be 0.1% – 0.3%), you could pay as much as 10x more in fees with Swyftx.

All in all, Swyftx is a good platform for staking obscure altcoins with high APYs, and its minimal user interface makes it easy to use, even for beginners. However, I still can't wholeheartedly recommend Swyftx due to its high overall fees and lack of transparency about its security measures.

Features

  • Supports 320+ cryptocurrencies
  • Up to 101% APY on select crypto assets
  • No lock-up period on staked assets
  • Well-rated on TrustPilot (4.7/5)
  • Well-rated mobile app (4.7/5 on iOS, 4.4/5 on Android)
  • Regulated by AUSTRAC
  • Fully functional demo account
  • Deposit methods include debit/credit cards, bank transfers (PayID), OSKO, POLi, and cryptocurrency
  • Support via live chat and email

Cost

  • Trading Fees: 0.6%
  • Spreads: 0.41% and up
  • Staking Fees: Free
  • Deposit Fees (Fiat): Free
  • Withdrawal Fees (Fiat): Free (maximum AUD 100,000)
  • Deposit Fees (Crypto): Network fees
  • Withdrawal Fees (Crypto): Network fees

Best For

Investors looking to stake obscure crypto assets for high APYs.

5. Independent ReserveBest Trading Library

Independent Reserve supports 39+ cryptocurrencies, serves 200,000+ active users, and is registered with the Australian Digital Commerce Association (ADCA). It has a 97% cold storage policy, and institutional investors who prefer a higher-touch approach can capitalize on its over-the-counter (OTC) trading service, ideal for investments of $100,000 or more.

One of Independent Reserve's unique features is AutoTrader, which allows users to leverage a library of trading strategies to easily buy crypto on a schedule, buy an entire basket of cryptocurrencies, or dollar cost average into the market. Employing these strategies doesn't cost users any more than making individual trades, and they can keep the strategies running for as long as they want.

Independent Reserve's trading commissions start at 0.6% plus a 0.41% spread, making the overall cost to transact on the platform at least 1%. You can get a discount on these fees if you trade $100,000 or more per month, though that's well out of reach for most individual investors.

Another thing I don't like about Independent Reserve is that you need a Premium account to capitalize on its insurance policy and telephone support, two features that come standard with many other exchanges. Premium accounts cost at least $300 per year, which makes trading securely an expensive endeavour.

When you contrast all this with CoinSmart—which offers no-fee trading on all order sizes and phone support to all users—Independent Reserve doesn't compare. It's more expensive than it needs to be, with all the small fees adding up over time.

Features

  • Supports 39+ cryptocurrencies
  • 97% cold storage policy
  • Insurance up to $5 million (only for Premium users)
  • 24/7 email support + phone support (only for Premium users)
  • Access to a library of trading strategies through AutoTrader
  • OTC trading desk for high-volume investors ($100,000+)
  • Free fiat deposits and withdrawals (AUD, USD, NZD, SGD)
  • Deposit methods include bank transfer (PayID), OSKO, SWIFT and POLi
  • Registered with the Australian Digital Commerce Association (ACDA)

Cost

  • Trading Fees: 0.6% (high volume discounts apply)
  • Spreads: 0.41% and up
  • Deposit Fees (Fiat): Free for deposits above AUD 100
  • Withdrawal Fees (Fiat): $0 – ~$30 
  • Deposit Fees (Crypto): Network fees
  • Withdrawal Fees (Crypto): Network fees + ~$10

Best For

Investors seeking to set up investing rules once and passively invest over the long-term.

Want to earn $50 in the next 6 minutes?

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Offer ends October 4, 2022.

6. ChangeNOW

ChangeNOW is a Seychelles-based non-custodial crypto exchange that doesn't require KYC registration and has been operating since 2017. It supports 430+ cryptocurrencies and 25+ fiat currencies; users can also choose from dozens of crypto-to-crypto trading pairs and trade instantly without limitations.

ChangeNOW fees range from 0.5% to 4%, depending on the crypto asset and the fee system you choose. Before opening your trade, you can select from a variable rate—subject to fluctuations based on how busy the network is at that time—and a fixed rate, which is predictable but may be more expensive.

Some of ChangeNOW's best features include an (instant) crypto-collateralized loaning platform with a 50% LTV ratio – that means you can request up to 50% of your collateralized crypto to be paid instantly in USDT. Interest is accrued month-to-month, but you pay at the end when you close the position on the loan. This is useful if you need liquidity but don't want to lose long positions on certain crypto assets.

Another useful feature is its completely-free trading bot White Label Bot, available on telegram. You can use it to set up alerts and automatically buy crypto. The ChangeNOW app is very well rated on Android and iOS, averaging a rating of 4.5/5 and 4.6/5, respectively. On Trustpilot, they have an excellent rating of 4.8/5. 

Features

  • Supports 430+ cryptocurrencies
  • Supports 25+ fiat currencies
  • Access to a zero-Fee Public Lightning Network Node
  • Collateralized loans with variable terms and 10% APR
  • Available on Android (4.5/5 rating) and iOS (4.6/6 rating)

Cost

  • Trading Fees: From 0.5% to 4%
  • Spread: ~0.1% (applicable only if you choose fixed-rate fees)

7. Binance – Best Variety Of Coins

Launched in 2017, Binance is the largest cryptocurrency exchange in the world by trading volume, with more than 30 million users. It supports 600+ cryptocurrencies and 50+ fiat currencies, giving investors the chance to invest in small altcoins before they blow up.

Binance users incur a 0.5% fee on instant trades and a 0.1% fee on market trades. Users who hold Binance's native token, Binance Coin (BNB), receive a 25% discount on these trading commissions, and traders who have done a lot of volume over the previous 30 days receive discounts, too.

Users interested in earning interest on their crypto can use Binance Earn, a staking platform designed for advanced users that offers up to 104% APY on select assets. Binance allows trading with up to 10x leverage and invests a portion of the trading commissions it collects into a Secure Asset Fund for Users (SAFU) to pay users back in the event Binance gets hacked. The SAFU was valued at $1 billion on January 29, 2022, but has likely gone down due to the sharp decline in crypto prices.

One thing I don't like about Binance is that it strongly encourages users to hold its BNB token, which often isn't the right move for them and cuts them off from the larger crypto economy. And if you don't hold BNB or aren't a frequent trader, trades can get quite expensive on Binance, especially when you compare them to low-fee platforms like CoinSmart.

Many Australian investors also face difficulties getting verified by Binance, and when you pair that with its poor customer support record, I can't recommend Binance for most users.

Features

  • Supports 600+ cryptocurrencies
  • Supports 50+ fiat currencies, including AUD
  • Stake and earn up to 104% APY with Binance Earn
  • Short selling capabilities
  • Up to 10x leverage
  • Hosts its own NFT marketplace
  • Secure Asset Fund for Users insurance fund protects users' holdings
  • Binance Lite offers a simpler, more user-friendly trading experience
  • Users can pay lower fees when using Binance's native token, Binance Coin (BNB)
  • Deposit/withdrawal methods include bank transfers (PayID), credit/debit cards, OSKO, and cryptocurrency

Cost

  • Maker fees: 0.1% (0.075% when paid in BNB)
  • Taker fees: 0.1% (0.075% when paid in BNB)
  • Maker fees (futures): 0.02%
  • Taker fees (futures): 0.04%
  • Instant buy/sell trade fees: 0.5%
  • Crypto deposit fees: Free
  • Fiat deposit fees: From 0% to 3.5%
  • Crypto withdrawal fees: From 0% to 2.5%
  • Debit/credit card purchases: 4.5%

Best For

Cryptocurrency investors seeking to invest in obscure altcoins.

8. CoinSpot – Best For Diversification

Best For Diversification

Trading fees: 0.1% – 1%
Security: 10/10
Customer support: Excellent

OpenSea integration + 24/7 live support.

★★★★★

Rated 4.8/5

CoinSpot is Australia's largest crypto trading platform with over 2.5 million users, a beginner-friendly desktop platform, and a highly functional mobile app rated 4.8/5 across 10,000+ reviews on the iOS App Store. Since launching in 2013, CoinSpot has become a certified member of Blockchain Australia and registered with both the Australian Securities and Investments Commission (ASIC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC), abiding by all KYC and AML requirements.

It supports 370+ cryptocurrencies, one of the most diverse coin offerings among any crypto exchange in Australia. It also offers a multi-coin wallet, early access to DeFi and NFT projects, an SMSF platform, and OTC trading for larger clients. 

With CoinSpot Bundles, you can buy several cryptocurrencies in a single transaction, minimizing fees and diversifying their portfolios. For example, current Bundles include the Top 10 Market Cap Bundle, the DeFi Bundle, the NFT Bundle, and the Green Bundle (of environmentally-friendly crypto projects).

CoinSpot Bundles make it easy to buy multiple cryptocurrencies in a single transaction.

CoinSpot is compatible with most deposit methods in Australia: POLi, direct deposit, cash deposit, BPAY, bank transfer (PayID), and BlueShyft. It charges reasonable fees both for trading and depositing/withdrawing crypto, with Instant Buy/Sell fees of around 1%.

CoinSpot's desktop platform is intuitive and user-friendly, and its mobile app has an overall rating of 4.8/5 on iOS and 4.1/5 on Android. It offers 24/7 customer support via live chat and email, and CoinSpot Earn allows you to earn annual interest up to 78% APY on their crypto holdings.

One of CoinSpot's more unique features is its integration with NFT marketplace OpenSea, which allows you to purchase NFTs directly from your CoinSpot wallet. One major benefit of this integration is that CoinSpot users can buy NFTs using any cryptocurrency (at a 0.9% fee), not just Ethereum, sidestepping the prohibitively expensive gas fees that often accompany Ethereum transactions. To mint an NFT of your own, you'll need to do so off the CoinSpot platform.

Features

  • Supports 370+ cryptocurrencies
  • Easy to use multi-coin wallet
  • CoinSpot Bundles make diversifying your portfolio easy
  • Deposit methods include POLi, bank transfers (PayID), BPAY, OSKO, cash deposit (Blueshyft), and cryptocurrency 
  • 24/7 customer support via live chat and email
  • Well-rated mobile app (4.8/5 on iOS, 4.1/5 on Android)
  • ISO 27001 certified for meeting extremely high information security standards
  • Integrated with NFT marketplace OpenSea
  • Earn interest up to 78% APY on 23 cryptocurrencies
  • Registered with AUSTRAC and ASIC

Cost

  • Market Orders: 0.1%
  • Instant Buy/Sell: 1%
  • NFT purchases: 0.9%
  • Deposits & Withdrawals (Fiat): Free 
  • Deposit fee (BPAY): 0.9%
  • Deposit fee (cash at a physical newsagent): 2.5%
  • Deposit fee (Crypto): Free
  • Withdrawal fee (Crypto): Depends on the crypto (e.g., Bitcoin is 0.003 BTC)
  • Advanced trading tools: 1%
  • CoinSwap: 1%

Best For

Investors looking for an extensive coin offering and a variety of deposit methods.

9. Kraken – Best For Real-Time Data

Founded in 2011, Kraken supports 87+ cryptocurrency assets and various order types (including stop loss and stop-limit orders). As a US-based exchange, Kraken has to meet extremely demanding security protocols, making it a highly secure exchange.

Intermediate and Pro users can trade futures contracts and use up to 5x leverage on 30+ cryptocurrencies. It keeps 95% of its crypto holdings offline in cold storage and has a Global Settings Lock (GSL) and Master Key system that blocks unauthorized changes to your account, even if your password and 2FA are compromised.

Kraken's fees range from 0.16% for makers to 0.26% for takers and decrease if you've traded more than $50,000 in the previous 30 days. It provides price data for digital assets to the Bloomberg Terminal and is accessible in more than 175 countries (including Australia), making it one of the most international crypto exchanges worldwide.

Kraken offers a staking platform on 17 assets (including the US dollar). However, at a maximum APY of 23%, it pays lower interest than some other staking providers (e.g., just 0.25% APY on Bitcoin).

Features

  • Supports 87+ cryptocurrencies
  • 95% cold storage policy
  • Well-rated mobile app (4.7/5 on iOS, 4.2/5 on Android)
  • 24/7 live chat and email support
  • Cryptowatch and custom alerts make tracking the entire market easy
  • 24/7 customer support via phone, live chat, and email
  • Deposit methods include bank transfers (PayID), wire transfers, OSKO, Apple Pay, Google Pay, SWIFT, SEPA, and cryptocurrency

Cost

  • Maker fees: 0.16%
  • Taker fees: 0.26%
  • Crypto credit card purchases: 3.75% + €0.25
  • ACH crypto purchases: 1.5%

Best For

Cryptocurrency investors looking for crypto exchanges with a wide array of supported altcoins and stablecoins.

10. CoinJar

Launched in 2013, CoinJar is one of Australia's oldest crypto exchanges. It charges a 1% commission on spot trades, though if you use its advanced platform, maker fees are just 0.1% and taker fees are 0%.

The CoinJar Crypto Debit Card makes spending your crypto on everyday purchases easy; it's accepted everywhere Mastercard is, and exchanges your crypto for fiat at the moment you make a purchase. However, the card charges a 1% fee on transactions, 1% on ATM withdrawals, 2.99% on foreign currency transactions, and $27.50 per transaction dispute, making it quite an expensive card to use.

One feature I appreciate about CoinJar is Bundles, prepackaged sets of diversified crypto assets, which make dollar cost averaging easy. Some of CoinJar's most sought-after bundles are its DeFi Bundle, Stablecoin Bundle, and Green (eco-friendly) Bundle

One of the things I don't like about CoinJar is its limited cryptocurrency support: you can only buy and sell 7 cryptocurrencies, though you can store 45+ other ERC-20 tokens in your CoinJar wallet. If you're looking to purchase coins aside from Bitcoin or Ethereum, you're better off with another exchange.

Features

  • Supports 7 cryptocurrencies
  • Very low maker (0.1%) and taker (0%) fees
  • Dollar-cost average easily with CoinJar Bundles
  • Debit card that allows you to spend your crypto like cash (with a 1% fee)
  • iOS mobile app is rated 4.7/5 (Android app is only rated 2.5/5)
  • Deposit methods include BPAY, bank transfers (PayID), OSKO, NPP, credit/debit cards, Apple Pay and Google Pay
  • Registered with AUSTRAC

Cost

  • Currency Conversion (Fiat & Crypto): 1%
  • Instant Buy (credit card & Apple/Google Pay): 2%
  • Maker Fees: 0.1%
  • Taker Fees: Free
  • Deposit Fees (Fiat): Free
  • Withdrawal Fee (Fiat): Free
  • Deposit Fees (Crypto): Free
  • Withdrawal Fee (Crypto): <1% (dynamic fee)
  • CoinJar Debit Card Transaction Fee: 1%

Best For

Investors looking for a crypto debit card that converts crypto into fiat currency at the point of purchase.

Why you should trust me

  • Experienced
    I bought my first cryptocurrency (Bitcoin) in 2013, bought Ethereum in 2017, and have held active accounts with at least 5 exchanges since 2018.
  • Unbiased
    All of my selections are supported by multiple data points, including crypto thought leaders, security experts, and TrustPilot reviews.
  • Deep Research
    My team and I spent more than 100 hours researching exchanges before choosing our top picks, and we update them almost daily as the industry continues to change.
My top pick →

How I Choose The Best Crypto Exchanges In Australia

There are a number of factors I consider when selecting the best crypto exchange Australia has to offer. Here are just some of them:

  • Supported coins: The best Australian crypto exchanges offer a wide range of coins to trade, allowing investors to maximize their profits by trading a variety of crypto assets.
  • User interface: A seamless trading interface that's easy to understand and navigate is essential, especially for beginners. However, if you are a more seasoned crypto investor, you may want to look for crypto exchanges with more advanced features.
  • Fees: All crypto exchanges charge a fee for their services, so it's crucial to find exchanges that offer competitive rates. Otherwise, you'll lose a significant portion of your profits to fees.
  • Regulation: One of the most important factors to consider when choosing a crypto exchange is its regulation since a well-regulated exchange is much safer to use than an unregulated one.
  • Deposit & withdrawal options: Crypto exchanges should offer a variety of payment methods so that investors can quickly transfer funds in and out of their accounts.
  • Account security: Look for an Australian crypto exchange that's implemented multiple layers of security, such as two-factor authentication and cold storage of 95% or more.
  • Customer support: The best crypto exchanges always have excellent support so users can get help if they encounter any problems. Consider how many channels you can use to reach their support team, their response times, and how helpful those responses are.

In Summary

Choosing the best cryptocurrency exchange in Australia isn't easy, given all the options out there and the different features each of them offers. As an avid cryptocurrency investor, I diligently keep up with the movements of the best crypto exchanges in Australia and make my selections below based on years of research and personal experience.

CoinSmart is the favourite among knowledgeable Australian crypto investors for its enterprise-grade security and zero trading commissions. If you're looking for a safe, cost-effective way to buy and sell crypto in Australia, I can't recommend CoinSmart highly enough.

CLAIM MY $50 BONUS
Offer ends October 4, 2022.

Best Crypto Exchange Australia FAQs

Which Australian crypto exchange has the lowest fees?

The Australian crypto exchange with the lowest fees is CoinSmart, which doesn't charge any fees on trades and has very narrow spreads. CoinSmart also doesn't charge any deposit or withdrawal fees, making it the ideal fit for fee-conscious investor who wants to maximize their profits.

What's the best altcoin exchange in Australia?

The best altcoin exchange in Australia is eToro. eToro supports 100+ coins today and regularly add more of the altcoins Australians are looking for.

What's the safest Australian crypto exchange?

The safest cryptocurrency exchange in Australia is CoinSmart. They have bank-level security protocols and servers hosted in secure locations worldwide and undergo frequent financial and security audits to ensure all of their users' assets are safe. On top of that, they don't charge any trading commissions and are known for being a reputable, trustworthy crypto exchange in Australia, ideal for advanced traders.

How can I buy cryptocurrency in Australia?

You can buy cryptocurrency in Australia using a platform like CoinSmart. CoinSmart provides a premium crypto trading experience, and it's a very reliable way to start trading cryptocurrency.

What's the best way to buy cryptocurrency in Australia?

The best way to buy cryptocurrency in Australia is to use a secure, regulated exchange, especially those at the top of this list. For the best crypto trading experience, pay special attention to exchanges with low or no trading commissions and well-reviewed customer support teams.

Is cryptocurrency legal in Australia?

Yes, cryptocurrency is legal in Australia, and you can buy, sell and use crypto without breaking the law. However, cryptocurrency is not currently considered legal tender in Australia, so the Australian government and businesses are not legally obligated to accept it as payment for goods and services.

What crypto exchange is best for beginners in Australia?

The best cryptocurrency exchange for beginners in Australia is CoinSmart. CoinSmart is ideal for beginners because they verify accounts instantly, have easy-to-use trading platforms and provide great customer support in case you need any help along the way.

What's the best crypto app in Australia?

The best crypto app in Australia is CoinSmart. Its app is rated 4.7/5 on both the iOS App Store and the Google Play Store, and Australians love its ease of use, robust security, and low fees.

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What's the most trustworthy crypto exchange in Australia?

The most trusted crypto exchange in Australia is CoinSpot, given its ratings of 4.8/5 on the App Store and 4.1/5 on the Play Store and impressive customer support ratings overall. CoinSpot is regulated by Australian authorities and follows all Australian laws, making it an extremely trustworthy exchange.

What is the best crypto exchange for day trading in Australia?

The best Australian crypto exchange for day trading is CoinSmart, since it charges very low trading commissions, offers tight spreads, and updates prices multiple times per second, giving day traders an upper hand over the rest of the market.

What is the best app to buy Bitcoin in Australia?

The best app for buying Bitcoin in Australia is CoinSmart since it charges very low trading commissions and offers Bitcoin at a very tight spread.

How do you avoid tax on cryptocurrency in Australia?

There are many ways to lower the tax burden on your cryptocurrency profits in Australia, including:

  1. Holding your crypto for more than 12 months to make use of the Capital Gains Tax discount available to long-term asset holders
  2. Holding your crypto for a short amount of time to make use of the personal use asset Capital Gains Tax exemption (only valid for purchases under $10,000)
  3. Tracking, reporting, and harvesting unrealized losses
  4. Taking advantage of tax loss harvesting (while avoiding the wash sale rule)
  5. Investing in a tax-efficient crypto ETF

As you can see with #1 and #2 above, these methods can be contradictory, so you'll need to be smart in deciding which of them may be right for you.

Which is better: Swyftx or CoinSpot?

CoinSpot is a better exchange than Swyftx for a variety of reasons: it runs a highly secure platform, offers users the ability to buy a basket of assets in a single purchase (CoinSpot Bundles), and is compatible with most deposit methods. Swyftx has some good things going for it as well, but I'm confident in recommending CoinSpot over Swyftx for most Australian investors.

Can I buy crypto on eToro Australia?

Yes, you can buy cryptocurrencies using eToro in Australia, and it's one of the platforms I recommend. With its unique CopyTrader feature and tight spreads, eToro is a great platform for buying and selling crypto in Australia.

Can you use Binance in Australia?

Yes, Binance is available in Australia, though I don't recommend it due to its 0.5% instant trade fees and lack of AUD support. Instead, Australian investors will be better off choosing one of the platforms toward the top of this list.

Should I use Coinbase in Australia?

I don't recommend using Coinbase in Australia for several reasons: it charges high trading commissions, only allows users to fund their accounts with a debit card, and processes transactions in US dollars, which means your Australian bank will charge you a foreign exchange fee on top of the transaction itself. Instead of using Coinbase, you're better off choosing one of the exchanges at the top of this list.

What's the best crypto wallet in Australia?

The best cryptocurrency wallet in Australia is the Ledger Nano S, which offers bank-level security with a free account. Its easy-to-use mobile app supports 1,500+ crypto assets at a given time and works seamlessly with the Australian crypto exchanges mentioned above.

What is the safest crypto wallet in Australia?

The safest crypto wallet in Australia is the Ledger Nano S, which is why it's built such a name for itself over the past 5+ years. No one else (including hackers) can access your Ledger wallet, so you know that your coins are always safe.

Can the ATO track cryptocurrency?

Yes, the Australian Taxation Office (ATO) can track cryptocurrency trades and transactions—and not only when your digital assets interact with real-world institutions like banks or crypto exchanges.

All Australian exchanges are required by law to register with AUSTRAC. Exchanges are also required to provide all information about their users' transactions, including purchase price, purchase date, sale value, and all associated KYC data. If your tax returns don't match the data the ATO receives from AUSTRAC, you may get slapped with a fine. 

Another important fact to consider is if you qualify as a Crypto Investor or Crypto Trader. The former can declare their profits as capital gains and take advantage of the 50% Capital Gains Tax reduction for long-term gains. Remember that to qualify for the Crypto Investor 50% tax rebate, crypto assets must be held for at least 12 months.

On the other hand, crypto traders must declare all profits as income and pay the total amount in taxes.

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