Discover the best cryptocurrency exchanges in Australia on Botsfolio Blog. Explore secure platforms for trading digital assets with ease and confidence.
7 minutes
Coinspot, launched in 2013, and the only ISO 27001 crypto exchange is a major hit with over 2 million subscribers, amongst new and expert Aussie traders. It is geared towards providing a streamlined and straightforward crypto trading app experience through a user-centric user interface that’s easy to navigate and allows easy buy and sell.
Moreover, it seamlessly works with Australian banks allowing direct deposits and withdrawals. It is also fully compliant with AML/CTF regulations since it’s registered under AUTRAC, making it highly secure.
Currently, CoinSpot supports more than 260 crypto currencies, including popular coins including Bitcoin (BTC), ZCash (ZEC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC) and some of the less known ones like Tael WABI, Monaco MCO, and FunFair FUN. Coinspot offers a secure and easy to use wallet for users to store their coins and then quickly be able to convert them for AUD.
CoinSpot offers CoinSpot Bundles, a unique service which allows you to purchase a variety of assets in a single transaction. This diversifies your portfolio and spreads the risk, it also saves time, minimises fees, and affixes an average cost over a split of coins.
KYC includes extensive ID documentation, government-issued ID card, residential address, passport image, mobile number, etc. Coinspot does not enforce any trading limits, but BPAY deposits are limited to $10,000 daily, while POLi withdrawals and direct bank transfers are limited to $2000. Withdrawals can only be made with fiat money.
Pros | Cons |
---|---|
Intuitive navigation | High weekly volume limit |
Automatic purchases on a daily/weekly/monthly basis | Lack of margin trading support |
Largest selection of DeFi tokens and NFTs | AUD is the only fiat currency for deposits |
Minimum or no deposit and withdrawal fees | Credit card deposits are not supported |
SMSF Account | ID verification required when depositing funds |
Mobile crypto trading app available | |
Registered with AUSTRAC |
CoinSpot offers flat marker order fees starting at 0.1% - while their instant buy and trade feature is a 1% fee per trade.
Binance Australia is the local branch of Binance, globally ranked no 1 crypto platform (by trading volume. It operates in full compliance of the Australian law and regulations and boasts of a variety of digital assets for cryptocurrency investment or to trade with. Plus, it allows depositing Australian Dollars (AUD) directly via a Bank Transfer, Credit Card, Debit Card and various other deposit methods to trade all of the top digital assets.
Binance features complex crypto trading tools for experts, including cryptocurrency futures, margin trading, and leveraged trading, including decentralized finance services, staking, savings, and crypto-backed loans. Unlike most Australian crypto trading apps and platforms , Binance also allows trading in various fiat currencies.
The KYC process is simple enough and involves furnishing basic details such as government-issued ID verification, phone and email verification. Trading limits are determined by level of verification and the crypto trading market. Fiat currency trades are limited to $5,000, while withdrawal limits start at 2BTC or its equivalent value in AUDs.
Binance also offers great discounts on all trades through the platform native Binance Coin. The Binance visa card can be used like a crypto debit for transactions accepted by more than 60 million merchants globally.
Binance features top notch security , via two factor authentication and All accounts are also protected with Crypto Currency Security Standard (CCSS), while investors are protected by an emergency fund.
Binance supports over 260 crypto currencies, and over 40 fiat. In addition, over 100 altcoins and 1000 trading pairs are accessible for trading on this platform. Deposits and withdrawals are allowed via PayID, credit card, debit card, third-party payment services, and Osko.
Pros | Cons |
---|---|
Superior trading features under one roof (margin and futures trading) | Lack of support for traditional payment options |
Exceptionally large selection of altcoins | Overwhelming structure for absolute beginners |
Highest liquidity on the market | |
The lowest trading fees | |
Additional features such as staking, NFT marketplace, margin trading, futures trading | |
Mobile crypto trading app available | |
Separate wallets for different markets (OTC, margin trading, P2P, futures) | |
Registered with AUSTRAC |
Binance charges some of the lowest fees, with crypto-to-crypto trading being charged 0-0.1%. The fiat currency purchases vary, and the cumulative fee’s discounts are often as low as 0.03% taker and 0.015% maker. Binance doesn’t charge deposit fees.
KuCoin , around since 2017, is a comparatively smaller cryptocurrency investment exchange with a knack for offering new coins before most other platforms. If you’re thinking of bagging new crypto coins at low prices early on, then this is the platform for it.
The user interface is simple enough, and it offers just crypto to crypto transactions, for now. The selection of crypto trading pairs available for trading is very extensive. Its crypto trading fees are low and it encourages use of its wallet for storing its native crypto Kucoin Shares(KCS), via reduced fees and rewards. Kucoin charges nothing for deposits.
One of its main drawbacks of KuCoin is that there aren’t really many people trading on it to make fast transactions. KuCoin is a fully licensed and regulated exchange that has mandatory KYC checks for all users if they want to trade more than 2 BTC per day.
Pros | Cons |
---|---|
Super-low trading fees | Difficult to navigate for beginners |
A broad scope of trading opportunities and supported coins | No fiat-to-crypto trading pairs |
No KYC required for first-time users and crypto-to-crypto trades | An unregulated crypto exchange |
Option for stake profits | Low liquidity |
There’s a fixed 0.1% fee per transaction, the sum of which the platform then distributes among holders of its native token, KuCoin Shares (50% of all daily fees), users who have recommended the platform (40%), and only keeps the remaining 10% for company purposes.
Kraken is a US based crypto investment platform operating globally , including in Australia, albeit with some differences than its global version. Particularly, the fact that only 16 crypto currencies are available for trading in Australia, as opposed to hundreds it features globally. The platform however does support funding trading accounts with Australian Dollars (AUD).
Aussie traders find the platform quite simple to use , yet power packed with advanced trading tools, such as Kraken Pro App and automated portfolio monitoring. As a contrast from other Australian crypto currency exchanges, Kraken has a leveraged trading platform to trade crypto using margin.
Pros | Cons |
---|---|
Unparalleled security standards | Limited access on starter accounts |
High liquidity on all supported coins | High minimums on deposits and withdrawals |
Neat interface with many customizable settings | |
Mobile crypto trading app available |
The fees are between 0.01% and 0.02% in addition to the trading fee for each transaction. The trading fees are average, starting at 0.16% for makers and 0.26% for takers.
Swyftx, launched in 2017, has already become a top contender for the best crypto platform title, mainly because it was designed to be simple and localized to serve the Australian cryptocurrency investment industry. Swyftx makes day trading incredibly easy, allowing you to swap, buy and sell coins instantly. You can buy crypto assets with AUD deposits via bank transfer, POLi, or PayID.
In the same spirit it comes with a demo account holding about $20,000 in virtual money. This is especially useful for beginners as it allows them to emulate real crypto trades without having to use actual money. They also give all users a free $10 worth of BTC on signup.
The TradingView interface provides full control of the trading interface to place a stop, limit, or market order or view detailed price charts, analysis, and pricing. Deposits and withdrawals have a $20,000 limit which can be increased to $ 100,000 with enhanced verification.
The trading platform supports over two hundred digital currencies that you can trade against BTC, AUD, and even USD. You can instantly sell, buy, and swap coins. It also has a mobile crypto trading app, which allows you to trade anytime and anywhere. As a mark of excellent customer service, it even assigns an account manager to newbies.
Swyftx enforces regular security audits and penetration testing, along with 2FA. It is a fully licensed crypto exchange and complies with KYC and AML policies. KYC is simple enough that lets you finish the registration and verification step in only two minutes.
Pros | Cons |
---|---|
Easy to use | Available only for residents of Australia and New Zealand |
Quick verification process | AUD is the only fiat currency for deposits |
Large choice of available cryptocurrencies | |
Mobile crypto trading app available | |
Fair pricing | |
24/7 live chat support |
Swyftx charges a 0.6% trading fee and AU$2 for withdrawals and deposits below AU$200. The platform doesn’t charge for withdrawals and deposits over AU$200.
Newbie traders should go in for cryptocurrency brokers. This will allow them to buy digital coins directly from the sellers, so the trades are quick and easy. An example of a crypto currency broker is Coinspot.
Experienced traders would find a crypto trading platform to buy and sell digital coins at competitive prices on an open market more useful. These trading platforms also have a wide selection of digital coins and have more features such as margin trading.
Crypto trading platforms are often more difficult to navigate than brokers, but there are some that are beginner-friendly. Swyftx is one of the best crypto platforms.
Pro traders would eye cryptocurrency derivatives platforms. These sites offer a wide range of trading features, high liquidity, high leverage, and trades are executed swiftly. Binance is one such highly ranked derivative platform.Best cryptocurrency exchanges In Australia.
1 in 5 Australians are reportedly open towards cryptocurrency investment opportunities. Meeting this demand, Australia is home to over 300 crypto currency exchanges registered with local governing body AUSTRAC. With so many options around, choosing the best crypto platform can be difficult.
Although there are so many factors to consider, it's crucial that you go for one that suits your unique trading needs.
Criteria | Preferred |
---|---|
Payment Methods Allowed | Multiple withdrawal and deposit methods that are acceptable in Australia. |
Crypto Trading Fees | Low fees to deposit, withdraw, and trade or transfer crypto |
Crypto Trading Types | Crypto - Crypto and Fiat - Crypto for maximum flexibility in cryptocurrency investment |
Ease of Use / Tools | beginner-friendly, yet featuring advanced trading tools and multiple trading pairs for expert traders. |
Security | 2FA , Funds stored in cold storage, secure private keys, encrypted data and regular security audits |
Liquidity | High speed of transactions, transparent order books |
Crypto Currency Collection | Must support major crypto currencies, tokens and altcoins alongwith Fiat currencies. |
Crypto Trading Limits | High or unlimited trading limits for max profit |
Crypto Regulations | KYC and Certification of compliance with Australian Law |
Written By
Jay Sharma
Jay is a seasoned crypto entrepreneur and technology innovator. As the Founder and CEO of Botsfolio, he has been at the forefront of the blockchain revolution since 2017. His practical experience extends to the technical nuances of crypto mining, having successfully built and managed a substantial GPU mining operation. Jay developed a groundbreaking decentralised application for fractional real estate NFTs. This innovative project garnered significant recognition. Through his hands-on experience and analysis, he aims to provide valuable guidance and empower others to navigate the dynamic crypto landscape.
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