Best Cryptocurrency Exchanges in Australia (Trading/Buy on Swyftx, Binance, Coinspot)

There are many crypto exchanges in Australia. You want to pick the right one. You can do your research and find out which ones are good for you. Our recommendations are based on tests that we did, not market noise.

We hope that we can help you trade with crypto. We will give you information about how to do it. It is accurate and up-to-date.

The Top 3 Exchanges for Aussies

Best Crypto Exchanges in Australia for 2022

  1. Swyftx Exchange -Best overall for Australians
  2. CoinSpot Exchange -Most secure and audited exchange
  3. Digital Surge Exchange -Lowest fees, winner of
  4. eToro Australia Exchange - Best for copy trading
  5. Binance Exchange - Best for serious trading
  6. Independent Reserve Exchange -Best for crypto insurance
  7.  -Best for security (US based)
  8. Easy Crypto Exchange - Best for purchasing quickly
  9. Elbaite Marketplace - Best peer-to-peer marketplace
  10. Cointree Exchange - Best for ease of use
  11. CoinJar Exchange -Another Australian alternative
  12. Plus500 Brokerage - Best for CFD trading
  13. Coinbase Exchange - Best for dual US residents
  14. KuCoin Exchange - Runner-up for low fees
  15. Coinmama Exchange - Runner-up international exchange

You can pick the best crypto exchange by figuring out what category you are in. You may want to use different exchanges, because of their unique perks. But you also need to spread your cryptocurrency on multiple exchanges, so that there is less chance of losing it all if one goes down.

Comparison Table of the Best Crypto Exchanges in Australia

Best Australian Cryptocurrency Exchanges for 2022: Reviews

1. Swyftx Exchange - Best overall for Australians

Swyftx is a good place for people to trade crypto. It has an easy-to-use design that makes it great for beginners and veterans. There are over 270 cryptocurrencies available to buy and sell, and the trading fees are only 0.6% per trade!

You can easily make a new account and verify it on Swyftx. It's quick and straightforward, and there is a way to learn about how the crypto market works. The user experience is really good with an FAQ database, tutorials from the team at Swyftx, and Live Chat support.

I think Swyftx is a great exchange. People who have used it have said how easy it is to setup and trade. If you want a secure trading platform that works well, I recommend you take a look at Swyftx.

Swyftx lets you deposit money into the account with bank transfers, debit cards, credit cards, or even PayPal. When you buy Bitcoin in Australia, you have to transfer money from your bank account. We used our account number and bank's BSB number to make a transfer deposit.

The fee of 0.6% is not different for all transactions. There are no fees hidden in the spread like some competitors. I did a comparison test between Swyftx and 3 of the other best Australian crypto exchanges - Digital Surge, CoinSpot, and Independent Reserve. I had four accounts, I put money into them. Then I bought some Bitcoin with the money. Next, I sold all of my Bitcoin back to the exchange. The left over money helped me decide which exchange had low fees. Read about it here - the results are interesting!

Swyftx is the best choice for Australians because they have access to international pools of trading volume. They can charge less than other exchanges, only 0.45% on BTC, and averaging 1.7%.

There are many different tools you can use while using the platform. One tool that I found useful is the Price Alert, which will send notifications when a coin reaches a set price. You can buy it then because this will be good for you.

Swyftx used to only allow trading coins from one type to another. They have now updated this and now offer trading between different types of coins that are not the same, e.g: you can swap a coin from Bitcoin to a coin from Ethereum.

  • Offers a variety of ways to buy crypto, including credit & debit card, PayID, BPAY, POLi, and bank transfer

2. CoinSpot Exchange - Most secure and audited exchange 

In 2013, CoinSpot took over the Australian cryptocurrency market. They have a million users, the most transactions and the most external audits. In fact, they are the only Australian exchange with an ISO 27001 certification--which means that they are very trusted and secure. CoinSpot provides many coins for you to buy. You can use Australian dollars to buy coins, or trade with other people on the site. You can either do an instant buy which is quick and easy if you are new to this, or a market trade which is more complicated but lets you trade with another person who has the coin.

CoinSpot has a wide selection of coins. Their trading fee is high though, and it's 1% of the transaction. So you should use this site for big coins like BTC, ETH, and ADA. If you want an altcoin, you will have to buy it instantly and pay the 1%.

CoinSpot is a good place for beginners to buy and trade cryptocurrency. They have made their website simple so it's easy to use. There are some fees, but the other Australian exchanges have them too. I trust CoinSpot because they have been here for a long time, and people can be sure that their coins will be safe there.

  • Supported deposit methods: POLI, PayID, BPAY, bank transfer (OSKO), cash deposit

3. Digital Surge Exchange - Best exchange for fees in Australia

Digital Surge is a place where you can buy and sell crypto. It is safe because it has been checked by the Australian government. You can buy different cryptocurrencies at Digital Surge, using Australian Dollars.

Digital Surge has some low fees. They start at 0.5% and go all the way down to 0.1%. This is much cheaper than other exchanges in Australia with fees starting at 1%.

Digital Surge has made it so easy to buy and sell on their platform. We really liked this. You can easily figure out what is happening on the site by looking at our favourite part of the platform. Have a look for yourself, you'll see!

Digital Surge only accepts AUD. If you are Australian, this is perfect! It also has a cool feature that you can pay bills with Bitcoin. It's easy to do, even if you don't know much about Bitcoin. We really like this because it is convenient and tells people that crypto will be used more in the future.

There is a mobile app that makes it easy to buy, sell and trade cryptocurrency on the go.

  • An extremely intuitive interface, not much learning involved. Mobile app is a great addition to their platform.

4. eToro Australia Exchange - Best exchange for copy trading

eToro is a company that offers many different types of trading. It is made to be used with other people. You can see what they post on the news feed and you can copy their trades.

Even though eToro is not a dedicated cryptocurrency exchange, it has many good features. You can use it to practise trading with virtual money that is worth $100 000. It also offers crypto staking and crypto CFDs (contracts for difference) which you can use to make money on cryptocurrency without owning any of them.

eToro only offers 30 cryptocurrencies on their platform and they do not charge any commissions. They make money from the spread, which is reasonable. You can download their app for iOS and Android and trade whenever you want.

eToro is an online trading company. It operates in US dollars, which means that you need to pay a currency conversion fee when you deposit or withdraw money. You can read about all of the trading options they have on their website.

  • Demo account to practise trading risk-free with $100 000 virtual money

5. Binance Exchange - Best for serious trading

Binance has a good trading platform for crypto. It is not easy for beginners, but it is really helpful and interesting. You can find many different services on the site, like futures and margin trading. There are over 300 coins there.

Binance users can easily deposit money into Binance using PayID/Osko and start trading.

If you want to trade, I recommend Binance for you. Their fees are very low at 0.1%. It is easy to use their trading bots to automate your strategy.

Binance is not from Australia, so you may need to pay a fee for deposits and withdrawals. You might also have issues with your Australian ID. This is what we found in our testing.

  • A great option for serious traders, low fees, and access to over 300 coins

6. Independent Reserve Exchange - Best for crypto insurance

Independent Reserve is an Australian exchange. It beats Swyftx in several areas: first, the trading fees at Independent Reserve are only 0.5% compared to the 0.6% at Swyftx. Moreover, if you are a large investor, you have the ability to lower your trading fees based on volume.

Independent Reserve is the only Australian exchange to offer insurance on crypto assets. They offer a tax report powered by KPMG. This makes it easier to report taxes with them.

Independent Reserve has a good OTC desk. It is perfect for people who are in SMSFs, family offices, and businesses that want to trade large volumes of over $100 000. I would recommend Independent Reserve to people who are trading large volumes of money.

The exchange only supports 27 different types of coins. But most of these are #1-30 in the world, and people trust them.

  • Instant deposits, automatic dollar-cost averaging (DCA), tax reports.

7. Kraken Exchange - Best for security

Kraken is like Binance, but it only offers few coins. It does not allow cryptocurrency trades to occur in the US, but it is very secure. Kraken has features like margin trading and staking.

Kraken is a company that allows people to trade and invest in cryptocurrencies. They only allow the 16 most popular cryptocurrencies to be traded against the Australian dollar. This can limit Australians who want to trade more than just these coins.

  • A security-focused exchange that has complied with US regulation is always a safe combination, so I give it A+ for security

8. Easy Crypto Exchange - Best for purchasing quickly

Easy Crypto Australia is a better exchange for buying crypto. Other exchanges might have your money, but this one doesn't. When you want to buy coins, you click "buy", then send the money from your bank account right away. You don't need to deposit anything before you can buy coins.

After you buy, the coins are sent to your wallet. They will not be stored on the exchange. This means that they are safe if the exchange is hacked. Easy Crypto Australia also offers a 100% guarantee of all orders so you can trade with peace of mind.

  • Transparent fees and no hidden costs

9. Elbaite Exchange - Best peer-to-peer marketplace

Elbaite is a website that you can use to buy and sell coins. There are no fees for sellers. And only 1% for buyers, which is less than most other sites! It also puts the coins in your personal wallet and not on the site, so there's no risk of them getting stolen if it's hacked.

Buyers will get their crypto money when the blockchain says so, and sellers always get their money.

Elbaite is an excellent trading platform for larger traders who want security in their assets. They are good for investors with large amounts of money. If crypto exchange hacking becomes more common, P2P platforms like Elbaite will become more popular because they are safer than exchanges.

  • Personal info kept hidden from other users

10. Cointree Exchange - Best for ease of use

Cointree is a good exchange for beginners. You can buy coins and trade them. You can also use your coins to pay bills, like BPAY. There are 160+ different altcoins including the feature to trade coin-to-coin which is not on all exchanges.

  • This was nominated for an Australian Blockchain Industry Award. This is a digital currency exchange.

10. CoinJar Exchange - Another Australian alternative

CoinJar has all the payments you can think of. You can pay with credit cards, debit cards or even cash for a transfer of any size. If you want to start trading crypto as soon as possible, there are options to make instant deposits.

CoinJar is a good option for Australian people. You can deposit money in two currencies, AUD and GBP. Some cryptocurrencies are not available on CoinJar, but the fees are reasonable. CoinJar has an Australian support team that you can call if you have problems or just need help.

  • You can use many different types of payments to buy things. One example is Blueshyft, which you can find at a thousand stores.

How to choose a Crypto Exchange

Before choosing an exchange, you should research different platforms. Look for features that are important to you. Choose one that meets your needs.

Based in Brisbane, AUSTRAC-registered and regulated

Australian-based customer support via Live Chat that is ready to help you out when you need

Purchase over 270+ cryptocurrencies using AUD

Low fees of 0.6% and low spread, with no hidden costs - fees are clearly displayed when trading

Australia's most secure and trusted crypto exchange

 Platform is easy to use and registration is simple

Over 290+ cryptocurrencies available to buy instantly using AUD

Offers their users the ability to buy & sell over 250 different coins with AUD

Lowest fees we have found from Australian exchanges starting from 0.5% and going as low as 0.1%.

Users can invest in 30 cryptocurrencies by buying directly or using a CFD

CFDs allow you to bet on the price of crypto to fall

Margin trade cryptocurrencies with x2 leverage

Crypto staking available so you can earn interest on your cryptocurrency while you hold it

Only ever pay a flat fee of 0.1% when trading crypto to crypto on this platform

You have the option to reduce your trading fees even further by taking advantage of Binance Coin (BNB), the native cryptocurrency of the exchange.

Get access to Binance Lite, a simplistic version of the platform that is more user friendly for beginners

Independent Reserve focuses on security as one of their priorities and even offers insurance for premium accounts

Supports 27 cryptocurrencies that you can trade starting at a 0.5% fee, which reduces based on volume

Kraken provides a well-designed platform with access to staking, futures and margin trading

Mobile app available for trading on the go

Live Chat support with a real person to assist you 24/7

100% funds safety guarantee on each order

Take control of your own assets - nothing is stored online on the exchange

You can buy crypto with the Australian dollar without having to put money in first.

No fees for sellers.

Do not store your money on a peer-to-peer exchange.

An escrow account is used to make sure transactions go through.

The interface of this software is very easy to use. It is perfect for beginners.

The company supports 160+ cryptocurrencies.

Pay your bills with money from your account. You can use cryptocurrency to make the payment.

CoinJar is an Australian exchange. You can buy and sell currencies without paying fees.

You can take cash out of your CoinJar account by using the EFTPOS debit card. You can use this card in many places including ATMs.

User-friendliness & trading tools

If you are new to crypto, then it can be confusing. You may want a site that offers more features. If you are an experienced trader, then you might want a simpler site.

Payment Methods

Think about how you want to pay for things on the exchange and make sure that your payment method is available. Most exchanges accept payment with credit or debit cards, or PayPal.

Trade type

You can trade your fiat money for cryptocurrency or the other way around.

Fees

How much will it cost you to buy and sell crypto on the platform? Remember that some payment methods might have fees. Also, exchange rates might change.

Limits

There are limits on how much you can buy and sell. You might not be able to go over the limit.

Access

Do you want to trade on the internet or on your phone? If you are always out and about, it is easier to trade if you use an app.

Loyalty programs & discounts

Does the exchange give people discounts or rewards if they meet certain guidelines, like trading a certain amount each month?

Exchange rates

You should compare the values of different cryptocurrencies. It will be interesting to see the differences!

Liquidity

The more liquid an exchange is, the easier it will be to complete trades. Large exchanges usually have high liquidity.

Account verification

It is important to know how long it takes before you start trading. Some exchanges let you use your real information and some will not. You might want to find out about that before you trade.

Security

Security should be the top priority when you choose a place to buy cryptocurrency. If the exchange does not have many high-security features, your account can get hacked and you might lose money.

Reputation

You should look for an exchange that you trust. You can read reviews of other people who use the exchange. If other people like the exchange, then you might like it too.

Customer support

What is the customer service like on the exchange? Is there live chat support? Is a customer service team available at all times? How helpful are they?

Regulation

The crypto industry is still not very regulated. But an exchange could be more regulated depending on where it is in the world. For example, in Australia, all crypto exchanges must register with AUSTRAC and they must meet compliance and reporting obligations for anti-money laundering and counter-terrorism financing.

How to use a Crypto Exchange

Let’s say you have AUD$400 that you want to use to buy some Bitcoin.

  1. Research cryptocurrency exchanges to look for the one offering the best service for your situation and needs. 
  2. Register for an account and verify your identity if required. 
  3. Once logged in, go to the ‘Buy’ area and select Bitcoin as the crypto you are looking to purchase. 
  4. You can choose which money you want to pay in. You can spend $400.
  5. Select the payment method you want to use. Then enter your payment details.
  6. You need to know the full details of your transaction. You should check for any fees that you will be paying and how much BTC you are buying.
  7. If you’re satisfied with the information, click ‘Buy BTC’. 
  8. The BTC will go into your exchange wallet. You nominated the external wallet address before.

How to Pay for Cryptocurrency

You will need to add money to your account. You can pay with many different ways. Some of the most popular are:

  • Debit and credit cards
  • Online payment services such as PayPal
  • Bank transfers
  • Prepaid Cards
  • POLi
  • Cryptocurrency transfers
  • Wire transfers
  • NPP payments such as Osko and PayID

Different exchanges might not take the same payment methods. Make sure that you check before opening an account on any one exchange.

Cryptocurrency Exchange Options

An exchange is a website where people buy and sell cryptocurrency. There are different types of exchanges. There’s an exchange for beginners, and another one for more experienced users.

Brokers - for Beginners

A broker is a good way to start buying cryptocurrencies. They work like a store and are the best option for those who just started out. I talked about it on reddit and you can check that out too.

Trading Platforms - for Intermediates

A trading platform is a place where people can buy and sell cryptocurrency. These trading platforms are designed for beginners. If you don't know much about trading or if you want to start out with something easy, this might be the place for you.

Derivatives Platforms - for Experts

Advanced users may prefer a derivatives platform. With this kind of platform, you will be able to trade crypto derivatives rather than selling the actual coins. This is good for people who are advanced traders looking for a high-liquidity, high-leverage trading platform.

Is it Safe to Store Your Cryptocurrency on an Exchange?

There are digital wallets that store cryptocurrency. When you sign up for an exchange, most of them will provide you with a wallet. You can either leave your crypto in the exchange account or transfer it to an external wallet. Some other platforms require you to have your own external wallet at the time of purchase and any crypto is sent straight there.

It is not recommended to leave your crypto on an exchange in the long-term. When you do this, the exchange controls the private key to your wallet, which means that you have less control of your money. If there is a security attack on the exchange, it could happen that you will lose all of your digital assets.

Next Steps

Cryptocurrency exchanges are different. Some people like them, some people don't. But it's best to do your own research on which one you want to use.

We provide information on what cryptocurrency is and how to buy it, but this is not financial advice. You need to understand that each person's situation is different. We have links with our partners who advertise our site or give us money.