Australia Review : A Decent Crypto Exchange

July 6, 2022
Reviews arrived on the Australian crypto scene with the promise of supporting a wider variety of coins, high-level security, and lightning-fast price updates. However, is not beginner-friendly, and its debit and credit card deposit fees are extremely high at 3-4%.

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

Sign up by May 25, 2024.

What Is is a major global player as far as crypto exchanges go, and it’s recently been having a major impact on the Australian crypto market. It supports 100+ cryptocurrencies, making it an ideal fit for crypto investors that want to invest in uncharted altcoin territory before everyone else does. also offers some unique features that no other Australian exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel confident in a coin. Features

1. Tight Security Protocols has invested an enormous amount of money into its platform security, which makes trading with them extremely safe.

Some of these security measures include:

  • Multi-factor authentication through email, phone, and/or biometrics before accessing your account.
  • Grants you control of your private keys through the DeFi wallet.
  • Cold storage policy to prevent hacking and theft.
  • Withdrawals protected by email verification and mandatory whitelisting of external addresses.

2. Wide Array Of Supported Crypto supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before anyone else does.

This number of supported cryptocurrencies is honestly impressive, and few crypto exchanges in Australia even get close to the number of digital assets supports.

3. Instantaneous Price Updates's price updates are extremely quick, often updating dozens of times per second. This gives day traders an upper hand over the rest of the market, especially for cryptocurrencies that are relatively unknown.

Cryptocurrencies On has the biggest number of cryptocurrencies supported out of any crypto exchange in Australia, going beyond the 200 crypto asset mark. Some of the top cryptocurrencies they support are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Chainlink (LINK)
  • USD Coin (USDC)
  • Algorand (ALGO)
  • Basic Attention Token (BAT)
  • Uniswap (UNI)
  • Compound (COMP)
  • Binance Coin (BNB)
  • Yearn Finance (YFI)
  • Kyber Network (KNC)
  • Cronos (CRO)'s number of supported crypto assets is on par with Coinbase's, although it's not as high as Binance's 350+ coins. However, even though VirgoCX supports far fewer cryptos, it's still a much better crypto exchange than because of its lower fee structure. Fees In Australia

There are two types of fees you will incur when trading with

For debit/credit card crypto purchases, you’ll pay between 2.99% to 3.99% in fees. You don't have to pay any fees when doing ACH and wire transfers, but you do have to pay withdrawal fees that depend on the cryptocurrency being withdrawn.

As for maker-taker fees, you have the following:

30-Day Trading Volume (USD)Maker FeesTaker Fees
Up to $25,000 USD0.40%0.40%
$25,000 – $50,000 USD0.35%0.35%
$50,000 – $100,000 USD0.15%0.15%

If you're trading less than $25,000 USD per month, both makers and takers pay 0.4% in trading fees. Those fees are slightly lower if you're trading more on a monthly basis (eg. 0.35% if you trade up to $50,000 USD per month), but 0.4% is a good baseline to gauge from. also offers different ways for its users to reduce their trading fees. For instance, users can get anywhere between 10% to 100% in trading fee discounts if they stake their CRO tokens or pay maker and taker fees with CRO. Deposit & Withdrawals Fees does not charge any fees for fiat withdrawals, though it does charge for crypto withdrawals. Every crypto asset faces a different withdrawal fee, though, so here are just a few of them:

  • Bitcoin: 0.0004 BTC
  • Ethereum (ERC-20): 0.005 ETH
  • Dogecoin: 6 DOGE
  • Solana: 0.0005 SOL

These fees are quite variable; as of this writing, the fee for withdrawing Bitcoin, Dogecoin and Solana are all less than $2, while the fee to withdraw Ethereum is over $20. As a result, it's always a good idea to consider converting your crypto to another coin before you withdraw, especially if you're working with small amounts.

How To Withdraw From To A Australian Bank

  1. From the app home screen, go to Fiat Wallet -> Transfer > Withdraw > Fiat.
  2. Tap on your AUD balance, then “Withdraw AUD,” and then “Withdraw Now.”
  3. Input your withdrawal amount, the email address you're withdrawing funds to, and your Security Question & Answer.
  4. Confirm your withdrawal.

Once you've completed those steps, will conduct an internal review and notify you when your withdrawal request has been processed. Withdrawals generally take 2 business days to process, and while doesn't charge any fees for withdrawals, it's possible (but unlikely) that your bank will.

The minimum withdrawal amount is $100, while the maximum account balance is $100,000. Here are a few more limits around withdrawal:

  • Daily Limit: $25,000
  • Monthly Limit: $775,000
  • Daily Transaction Limit: 10
  • Monthly Transaction Limit: 20

Our Recommendation is a great option when it comes to crypto exchanges. The number of cryptocurrencies that it supports is impressive, and its security measures and lightning-fast price updates easily make it one of the top-rated crypto exchanges in Australia today.

However, is not a beginner-friendly crypto exchange, and's debit and credit card purchase fees are extremely high: 3% to 4% in purchase fees can translate to hundreds or even thousands of dollars lost, especially on larger purchases.

With that in mind, we recommend buying and selling crypto with Capital instead. Here are some of the reasons why we recommend [exchange_1_Australia] over

1. Capital – Best Overall

Zero Fees

Trading fees: 0%
Supports: 100+ coins
Customer support: Excellent

Trusted by millions.


Rated 4.9/5

Capital allows users to trade crypto alongside stockscommodities, forex, market indices, ETFs and more—all without any trading fees. It supports 100+ cryptocurrencies, and users can trade with 2x leverage on crypto (up to 500x leverage on other assets).

Capital charges a tight spread ranging from 0.1% – 0.3% (depending on the asset), making the overall cost of using the platform (0% trading commissions + 0.1% – 0.3% spreads) very low. It has a fully functional desktop platform, a well-rated mobile app (4.7/5 on Android and iOS), and an excellent demo account where you can practice trading with real assets in real time.

Capital is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, which means it’s a safe, secure platform. Every user receives a dedicated account manager they can reach by email or phone anytime, which is part of the reason Capital’s customer support team receives such positive reviews.

Deposits and withdrawals are always free with Capital, and you’ll never pay trading commissions regardless of whether you place spot orders or limit orders. Capital is ISO 27001 certified for meeting robust information security standards, making it an extremely safe platform to trade with.

The biggest drawback of Capital is that it can take several days to have your account verified since their verifications team is overwhelmed with signups right now. If you sign up using my referral link, though, you can skip the waitlist and start trading immediately.

I’ve personally used Capital for more than 4 years, and based on my experiences and those of millions of other users, I can’t recommend it highly enough. 


  • Zero trading commissions
  • Tight spreads (0.1% – 0.3%) 
  • Supports 100+ cryptocurrencies
  • Allows up to 500x leverage (2x leverage on crypto)
  • Fully functional demo account for paper trading
  • Free deposits and withdrawals via debit/credit cards, bank transfer, POLi, PayPal, Apple Pay, etc.
  • Dedicated account manager you can reach at any time
  • Excellent desktop trading platform
  • Well-rated mobile app (4.7/5 on both Apple and Google)
  • Licensed by the Australian Securities and Investments Commission (ASIC)
  • ISO 27001-certified for meeting extremely high information security standards


  • Trading fees: 0%
  • Spreads: 0.1% – 0.3%
  • Deposits & Withdrawals: Free

Signup Bonus

Skip the waitlist and have your account approved immediately by using my referral link below.

Best For

Investors looking for the best overall crypto trading experience with no trading commissions.

In Summary arrived on the Australian crypto scene with the promise of supporting a wider variety of coins with reasonable trading fees. And with 100+ supported cryptocurrencies, high-level security measures, and lightning-fast price updates, is one of the top cryptocurrency exchanges in Australia.

However, is not beginner-friendly, and its debit and credit card deposit fees are extremely high at 3-4%, which is why we recommend Capital instead. Capital has extremely low trading fees and supports more than a dozen cryptocurrencies, and when you add on its bank-level security and easy-to-use interface, we can't recommend it enough.

Zero trading fees FAQs

How To Withdraw Funds From

Withdrawing funds from your account is easy, but you do need to follow a few steps, which are:

  1. Log in to your account.
  2. Click on “Transfer” at the top.
  3. In the “Transfer” area, click “Withdraw”.
  4. Click “Withdraw with fiat”.
  5. Select a fiat currency.
  6. Add a bank account. ( uses Plaid to do this.)
  7. Select your bank.
  8. Enter your bank login credentials.
  9. Select your account.
  10. Enter the amount you want to withdraw. (Minimum withdrawal of $100)

Is Safe In Australia?

It's worth mentioning that investing in cryptocurrencies is very risky, regardless of what crypto exchange platform you use to do so. However, is a very safe platform to use.

In fact, is one of the safest crypto exchanges in Australia, and they've invested a lot of money into making sure your digital assets are secure.

Is Legal In Australia?

Yes, is legal in Australia. Since 2020 has held Australian Financial Service License (AFSL)

Is Available In Australia?

Yes, is available in Australia, and users can trade 100+ cryptocurrencies with reasonable fees. To open your account with, take 60 seconds to pass the ID verification here. Referral Code

Unfortunately, there are currently no referral codes available for However, you can create an account and earn $10 of CRO when you stake $1,000 of CRO using this link.

Does Report To The ATO?

Yes, is required by law to report to the ATO. All crypto exchanges in Australia are required to report to the ATO whenever any asset interacts with the real world (including but not limited to banks and various financial institutions.

Does Work In Australia?

Yes, is available to Australian cryptocurrency traders. To start trading you just need to pass a 60-second ID verification here.

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