Jessie Moore has been writing professionally for nearly two decades; for the past seven years, she's focused on writing, ghostwriting, and editing in the finance space. She is a Today Show and Publisher's Weekly-featured author who has written or ghostwritten 10+ books on a wide variety of topics, ranging from day trading to unicorns to plant care.
In 2022, $148 million AUD was lost to crypto scams.
While that doesn’t necessarily mean trading cryptocurrencies in Australia is a bad idea, it should motivate you to find the best and most secure platform possible.
However, finding a reliable crypto platform in Australia can be tough. Many top platforms aren’t available in Australia — others have high fees, slow processing times, and poor security.
That’s why I’ve done the hard work to help you find the best crypto exchange in Australia. Here, you’ll find a comprehensive guide to crypto platforms in the land down under, including the key features, fees, and available coins on each.
Let’s dig in…
What’s the Best Crypto Exchange in Australia? The Bottom Line:
The short answer? eToro. But first, a little context…
Cryptocurrency investments are considered risky because of their volatility and relative “newness”:
- Many coins have little historical data
- What data exists shows high volatility
- The government doesn’t back crypto investments the same way they do stock investments.
While you can’t change crypto’s volatility and inherent risk, you can choose a cryptocurrency exchange Australia that’s verified, trustworthy, and most importantly, secure to help avoid scams and unnecessary losses.
eToro is an all-around solid option. Many beginners feel it’s the best crypto exchange Australia offers because everything about this platform is simplified and straightforward. Crypto can be a complex beast in its own right without having to navigate a complicated platform as well.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Kraken is worth a callout because of its longevity. I tip my cap to it being one of the oldest surviving crypto exchanges out there. When customers are loyal for so long, it usually means a company is doing a lot of things well.
Knowledge is power!
If you want to increase your money-making potential in the fast-moving world of crypto, you’ve got to understand the basics. Check out these Udemy courses to expand your knowledge:
1. eToro – Best for Beginners
- Overall rating: 4.5/5 Stars
- # of tradable coins: 80
- Minimums + fees: $10 Minimum Deposit | Miscellaneous Fees
What makes it great: Customers applaud that eToro has built a straightforward platform backed by world-class security and features such as CopyTrading and Smart Portfolios.
Other selling points?
- 80+ coins, including Bitcoin, Ethereum, XRP + more
- Competitive trading rates.
- Secure storage with 2F authentication
- A CopyTrader feature where new crypto investors can follow experienced traders
- Smart Portfolios — pre-selected groups of crypto types, and low fees.
These features can save you time and money by doing a lot of the research for you — ideal for beginners and part time investors.
Pros | Cons |
Easy to use & understand | Not available in all countries |
Low fees | Limited cryptocurrency selection |
Multiple layers of security | |
CopyTrader feature (mirror the trades of experienced traders) |
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
2. TradeStation Crypto – Most Competitively Priced
- Overall rating: 4/5 Stars
- # of tradable coins: 11
- Minimums + fees: No Minimum Deposit | .12%.35% Fees
What makes it great: TradeStation Crypto stands out thanks to its usability and low fees.
TradeStation Crypto delivers effortless functionality through a smooth, user-friendly interface.
Stock traders can invest in day trading software with lightning-fast execution, but crypto investors have to depend on a reliable exchange to get fast, functional transactions which can help avoid slippage. TradeStation Crypto boasts they can be that for you.
Coin options are limited, but you’ll find top picks like Bitcoin, Ethereum, and Litecoin.
Pros | Cons |
User-friendly interface | Very limited cryptocurrency options |
Some of the lowest fees | Geographical restrictions outside of Australia |
Has some of the highest returns in the market | Not ASIC authorized to trade Australian stocks |
Australians can trade us ETFs and stocks |
3. Kraken – Great for Advanced Traders
- Overall rating: 4.5 5 stars
- # of tradable coins: 220+
- Minimums + fees: $1 Minimum | .9%-1.5% Fees
What makes it great: Kraken is one of the longest-surviving cryptocurrency exchanges. It’s received global recognition for its track record and security protocols.
If you are an advanced trader, you may like Kraken’s low fee structure, cutting-edge security, future trading, margin trading, and advanced order type options.
Billions of dollars in crypto are traded through this exchange and they are trusted by over 9 million users. They stand out with their focus on education, customer service, and usability. Kraken is quick, easy to use, and has a highly-rated app.
Pros | Cons |
Cutting-edge security protocols (3rd party testing & cold wallet recommendations) | Slightly complicated interface |
Large selection of coins | Liquidity can fluctuate (can result in slippage when trading higher volume cryptocurrencies) |
Low Fees | |
Fast deposits and withdrawals | |
Stake reward program | |
API integration | |
Highly rated app |
Quick side note … Are you an accredited investor? Great news — there are all sorts of cool opportunities available to you.
One of the coolest ones? You can invest in pre-IPO companies by funding employee stock options through platforms like Equitybee.
Kraken just so happens to be one of those companies.
If you’re an accredited investor and interested in gaining crypto exposure in a different way than buying and selling coins, Equitybee could provide a very appealing investment opportunity.
Plus, be sure to check out our article about the best investments for accredited investors.
4. Crypto.com
- Overall rating: 4/5 Stars
- # of tradable coins: 250+
- Minimums + fees: $1 Minimum Deposit | Fees Vary Per Coin
What makes it great: Crypto.com is a reliable exchange known for its range of tradable coins.
More selling points?
- Huge customer base — 80 million users across the globe
- Accepts bank wires from 20+ fiat currencies as well as debit/credit cards
- Multiple layers of security and compliance have earned them a Singapore Data Protection Trustmark
- Speeds of 2.7M TPS with low latency.
- Advanced features like margin trading and NFT trading allow you opportunities to explore higher-risk strategies if desired
Pros | Cons |
Good selection of coins | Limited payment methods |
Some fees set to 0.1% | Customer complaints of long wait times |
Margin trading | Inactivity fees |
Staking rewards | |
Crypto credit card with bonus points on every purchase | |
Fast speeds (2.7m tps matching engine & 50-microsecond core latency) | |
Singapore Data Protection Trustmark, SOC2 Type 1 Compliance, and more | |
Available in 90 countries |
5. Gemini – Most Secure
- Overall rating: 4.2/5
- # of tradable coins: 90+
- Minimums + fees: No Minimum Deposit | .5% Convenience Fee + Trading Fees Vary With Coin & Amount
What makes it great: Gemini presents an affordable choice among cryptocurrency exchanges with a straightforward fee structure.
Gemini takes your security very seriously, with 2FA, AML/KYC verification and multi-signature hardware wallets.
They have low fees, offer staking, derivatives trading, and NFTs trading, and allow API access for those trying to scale their investing.
Tools like a watchlist, multiple chart typing, and price alerts help you make smarter decisions; a vetted list of coins only includes those they consider reputable.
Pros | Cons |
Low Fees | Low liquidity |
2FA, AML/KYC Verification, and utilizes multi-signature hardware wallets | Limited payment options |
API access for developers to build automated trading strategies | User interface not very intuitive |
Available in 70 countries |
6. Bitfinex
- Overall rating: 4.5/5
- # of tradable coins: 150+
- Minimums + fees: No Minimum Deposit | $10,000 Minimum | 0.1% Maker Fee, 0.2% Taker Fee
What makes it great: For both expert-level traders and novices alike, Bitfinex stands out as one of the most versatile cryptocurrency exchanges out there.
Bitfinex shines in its unique range of features. They offer margin trading, speedy withdrawal times, customizable charts, liquidity support incentives, and reliable security standards.
They offer truly robust advanced features that include API, enhanced reporting framing, corporate accounts, and institutional-grade trading speeds.
Pros | Cons |
Easy-to-use interface | Complexity can be a challenge for beginners |
Low trading fees | Delays in processing time during heavy demand times |
High liquidity (fast processing) | |
Secure encryption and a robust security infrastructure | |
Excellent customer support | |
Decent amount of coins | |
Advanced features for professionals & institutions | |
Institutional-grade trading speeds |
7. Independent Reserve
- Overall rating: 3.8/5
- # of tradable coins: 30+
- Minimums + fees: No Minimum Deposit Options | .2%-.5% Fees
What makes it great: Independent Reserve is another popular crypto platform with reasonable fees.
Easy-to-use right off the bat — Independent Reserve gives you an easy-to-use interface, many popular currency options, third-party auditing, and segregated cold storage wallet options.
They are considered a Blockchain Australia Gold Certified exchange which praises their security and adherence to Australian best practices for cryptocurrency exchanges.
For those who need it, they offer advanced order types such as stop buy and stop sell, portfolio tracking, auto-trading strategies, and multi-currency trading.
Pros | Cons |
Easy to use for beginners | High minimum for some wire types |
Low trading fees & withdrawal fees | No advanced trading features |
Two-factor authentication & cold storage of funds | Verification and approval process can take time |
Insurance protection on $500k | Limited range of tradable coins |
High potential return on investment | Limited customer support |
Strong security measures |
8. CoinSpot
- Overall rating: 4.5/5 Stars
- # of tradable coins: 390+
- Minimums + fees: $1 Minimum Deposit |.01%-2.58% Fees
What makes it great: You’ve likely heard of CoinSpot, one of the leading platforms available for Australians seeking safe digital asset trading options.
With over 2.5 million customers and 25,000 5-star reviews, CoinSpot seems to be doing quite a few things right. They have been around for a decade and have extensive security protocols, including 2F authentication, ISO 27001 Certificate, and perform regular audits.
The company offers you a tremendous amount of tradable coins, affordable fees, quick-click buy and sell execution, and customer service within 30 seconds.
Pros | Cons |
Low trading fees | Limited Customer service options |
No deposit fees for australian customers | No margin trading or futures contracts |
Many different asset types | No advanced trading features |
Fast depositing & withdrawing of digital assets | |
Easy-to-use interface | |
Two-Factor Authentication & ISO 27001 Certification + regular audits | |
Wide range of tradable coins | |
Built-in charts & trading tools | |
Blockchain Australia Certified For Australian best practices |
9. Swyftx
- Overall rating: 4.5/5 Stars
- # of tradable coins: 320+
- Minimums + fees: No Minimum Deposit | .6%-3.99% Fees
What makes it great: Swyftx is a progressive cryptocurrency exchange platform based in Australia.
The user-friendly Swyftx platform was built with crypto traders’ pain points in mind. They pride themselves in having great customer service, a speedy verification process, and a demo mode for risk-free practice trading.
The company supports 250 different cryptocurrencies, has low fees for domestic and international transactions, and offers you useful features such as their integrated charting tool which makes it easy to monitor real-time market movements.
With their customer-centered focus, they strive to continue improving their platform.
Pros | Cons |
Low trading fees | Not as well known |
Instant deposits | No customer support phone number or live chat |
250+ Cryptocurrencies (Including Popular Coins Like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC)) | |
Easy-to-use user interface | |
Industrial-grade security features including two-factor authentication, encryption, and cold storage wallets | |
Integrated charts and tools |
BONUS: Bitcoin IRA
- Overall rating: 3/5 Stars
- # of tradable coins: 60+
- Minimums + fees: $3,000 Minimum Initial Deposit + $10 trade minimum | 0%-6.5% (Depending on the Coin)
What makes it great: Bitcoin IRA is an innovative investment platform that enables you to invest in various cryptocurrencies using your retirement accounts — saving you a ton in taxes!
It’s not exactly the Australian crypto exchange, but it’s too good not to mention!
I lowered the rating for this because of the US residency requirement, but if you have that while in Australia (US green card, residency visa, driver’s license, or passport), you can still use this platform to invest in crypto with your IRA, potentially growing your portfolio much faster.
Pros | Cons |
Low fees | Limited coins options |
Advanced security features | Relatively complex setup process (requires some basic tech skills) |
Unique retirement-focused investment option | High minimum deposit |
High return rate | Limited range of tradable coins |
Supports popular cryptocurrencies | US Residency required |
Dedicated customer support | |
Tax Benefits to Using IRA |
Why Aren’t All U.S. Crypto Exchanges in Australia?
Not all U.S. crypto exchanges are available in Australia because of regulatory differences and the cost of expanding operations to international markets.
Cryptocurrency Exchange Australia: How to Find the Best One
When searching for the best cryptocurrency exchange Australia offers, consider the following factors:
- Range of tradable coins
- Security measures
- Fees and minimum deposits
- User-friendly interface
- Customer support
Final Word: Best Crypto Exchange Australia
It’s worth taking the time to consider your personal needs before choosing an exchange. An ill-fitting platform could lead to overwhelm, decision fatigue, and disuse.
That said, here are two of my top picks:
- eToro shines as the best crypto exchange Australia offers for beginners. Their usability and smooth processing really set them apart.
- If you are more experienced and looking for some more advanced features, Kraken is an excellent choice.
Moreover, be sure to cross-reference a platform’s features and security with your own needs before settling on your final choice.
FAQs:
What are the best crypto exchanges in Australia?
Some of the best crypto exchanges in Australia include Gemini, Coinbase, and Kraken. eToro is also a strong choice for beginners.
What is the safest crypto exchange in Australia?
Gemini is considered to be the safest crypto exchange in Australia, with high security standards, offer 2FA authentication, and cold storage.
What is Australia number one crypto exchange?
Many Austrialians consider crypto the number-one exchange, though this may change following recent news events. Other popular exchanges include Gemini and Kraken.
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