Discover the top crypto exchanges in Australia! We’ve analyzed and ranked them based on usability, fees, and customer service. Whether you’re a beginner or an expert, this guide will help you find the perfect platform for your trading needs.
What Are the Top Crypto Exchanges in Australia?
| Exchange | Fees | Cryptocurrency | CoinLedger Rating |
| eToro Australia | 1% fees | Less than 100 cryptocurrencies (plus access to stocks!) | 9.2/10 |
| Crypto.com | 0.075% trading fees | 300+ | 9.0/10 |
| Independent Reserve | 0.02%-0.5% | 15+ | 8.8/10 |
| BTCC | 0.03% spot trading fees | 300+ | 8.9/10 |
| CoinSpot | 0.1% on spot trading | 440+ | 9.6/10 |
| Swyftx | 0.1% – 0.6% depending on trading volume | 320+ | 9.4/10 |
| Kraken | 0 – 0.26% fees on Kraken Pro | 200+ | 9.3/10 |
| Pionex | 0.05% on spot trading | 120+ | 9.1/10 |
| Coinbase Australia | 0 – 1% on Coinbase Advanced (fees can be higher) | 120+ | 9.6/10 |
| CoinJar | 1% on most transactions, 2% on instant buys | 60+ | 9.2/10 |
CoinSpot
With over 2.5 million users and 440+ cryptocurrencies supported, CoinSpot stands as one of Australia’s oldest and most reputable exchanges, boasting a rich history since its establishment in 2013.
- Fees: 0.1% on spot trading
- Cryptocurrency selection: 440+
- CoinLedger Rating: 9.6/10
Swyftx
Swyftx, established in 2018, caters to the Australian crypto market. With over 370 digital assets and 660,000 users, it stands out as one of the top exchanges in the region, offering a diverse range of cryptocurrencies.
- Fees: 0.1% – 0.6% depending on trading volume
- Cryptocurrency selection: 320+
- CoinLedger Rating: 9.4/10
Kraken
Kraken, an American-based exchange, caters to global investors with its low fees and support for advanced transactions, making it a standout choice for seasoned investors seeking a reliable platform.
- Fees: 0 – 0.26%
- Cryptocurrency selection: 200+
- CoinLedger Rating: 9.3/10
Pionex
Pionex, a top crypto exchange in Australia, provides free trading bots that automate transactions, boosting your returns. Its advanced features make it a standout for maximizing profits in the crypto market.
- Fees: 0.05% on spot trading
- Cryptocurrencies supported: 120+
- CoinLedger Rating: 9.1/10
Coinbase Australia
Coinbase Australia, a local version of the globally renowned Coinbase exchange, provides access to over 250 diverse cryptocurrencies. The platform, recognized for its excellence, ensures a secure and smooth trading experience for Australian users.
- Fees: 0 – 1%
- Advanced Cryptocurrencies supported: 120+
- CoinLedger Rating: 9.6/10
BTCC
BTCC, serving over 1 million users globally, was established in 2011. Renowned for its margin trading feature, the platform enables users to trade with up to 225x leverage, offering unmatched trading opportunities.
- 03% spot trading fees
- 300+ cryptocurrencies
- CoinLedger Rating: 8.9/10
Binance: What’s the Deal?
Binance, a leading cryptocurrency exchange, faced significant challenges in Australia. Following regulatory issues, we removed Binance Australia from our guide. In 2023, the platform’s banking partner withdrew support, leading Binance to halt AUD transfers and discontinue support for numerous AUD trading pairs.
How to Select a Cryptocurrency Exchange?
Choosing a crypto exchange? Consider these key factors for a smooth and secure trading experience.
Ease of Use
Navigating crypto trading as a new investor may seem daunting. To ease the journey, selecting an exchange with a user-friendly interface is crucial. Simplicity and accessibility are key factors in making your first crypto moves less stressful.
Supported Cryptocurrencies
When planning your crypto investment strategy, consider your portfolio’s diversity. Aiming for a wide range of coins? Select an exchange boasting hundreds of options. Or, if you prefer a more focused approach with just a few cryptocurrencies, opt for an exchange that caters to a smaller, select group. This way, you can tailor your trading experience to your unique investment goals.
Exchange Fees
Trading on exchanges can be costly, with fees mounting up based on your activity. Beyond just trading fees, be prepared for extra charges on deposits, withdrawals, and even credit/debit card transactions.
Consider customer support
Choosing a crypto exchange is crucial for investors. Robust customer support can be a lifesaver when facing withdrawal or deposit issues. Look for exchanges that prioritize quick assistance to ensure a smooth trading experience.
How to Choose a Secure Exchange
Millions have been lost by crypto investors in recent years due to hacks and exchange bankruptcies. To keep your assets safe, it’s crucial to assess the security measures of an exchange before selecting it. Look for features like two-factor authentication and third-party security audits, which indicate a platform’s commitment to protecting your investments.
How Can Australians Sign Up for a Cryptocurrency Exchange Account?
Opening a crypto exchange account in Australia is quick and easy, much like signing up with a stock brokerage. Though identity verification may take a few days, the initial account setup can often be done in minutes, getting you ready to trade cryptocurrencies in no time.
- Create Your Account: To kick off the process of setting up an exchange account, you’ll be required to enter a valid email address and choose a secure password for your new account.
- Provide Personal Details: Prior to engaging in cryptocurrency trading, you must complete the Know Your Customer procedure. Typically, this involves sharing details such as your complete name and a government-issued photo ID, ensuring compliance and security.
- Fund Your Account: After successfully verifying your identity, you’re ready to fund your account and start trading. Most exchanges offer various funding options, including bank transfers, wire transfers, or even transferring cryptocurrencies from other platforms, providing flexibility and convenience.
Can Australians Use Their Debit or Credit Cards to Purchase Crypto?
Australian investors have a convenient option to purchase cryptocurrencies using their debit and credit cards on both local and international crypto exchanges catering to the Australian market. However, it’s essential to be aware that certain banks or card issuers may impose restrictions or even block crypto transactions. Therefore, it is advisable to consult with your financial institution prior to making any purchases. Moreover, using cards for crypto transactions often incurs higher fees in comparison to other payment methods, such as bank transfers. Investors should also be mindful of potential foreign transaction fees, especially when transacting on international platforms. To ensure the most cost-effective approach, comparing fees among various exchanges and payment methods is always a prudent step. Popular exchanges like Binance Australia facilitate card payments, providing a swift and easy way for Australians to acquire cryptocurrencies.
How does Australia tax cryptocurrencies?
Cryptocurrency is treated as property in Australia and is thus subject to Capital Gains Tax (CGT). When disposing of crypto assets, such as selling, trading, or using them to purchase goods and services, any financial gain is taxable. Both individuals and businesses must report these transactions to the Australian Taxation Office (ATO) and pay CGT on any profit. However, if the cryptocurrency is held for more than 12 months before being disposed of, individuals may be eligible for a 50% CGT discount. Additionally, if cryptocurrencies are used as part of a business, the transactions may be subject to income tax. Regulations are constantly evolving, and users should always consult with a local accountant or financial advisor to ensure compliance with local laws. It is crucial for crypto users to maintain detailed records of all transactions, including dates, values, and the purpose of each transaction, to ensure accurate tax reporting and compliance with Australian tax laws.