Selecting a good crypto exchange is often the first step when you begin investing in digital currency. Australians are able to access most international cryptocurrency exchanges due to the government’s fairly accommodating stance towards blockchain technology and cryptocurrencies. They also have access to several Australia-based crypto exchanges.
As there are so many options, it can be hard to narrow your options down and choose the crypto exchange best suited to your needs. This guide will help you to decide which trading platform is best for you by offering a comparison between various international and local exchanges.
Crypto Exchanges in Australia
Keep your specific needs in mind as you consider this list of trusted and secure exchanges. Some offer additional opportunities to earn rewards, whereas others have better options for aspects like short-term trade execution, so know which features will suit your investing style best!
Binance is the world’s largest crypto exchange by daily traded volume and is an excellent option for beginner and experienced Australian crypto investors alike. At Binance, users can trade over 350 different altcoins, including the exchange’s native token Binance Coin. Users can also earn money in various ways, including staking and earning interest on their crypto holdings. Binance also offers users a way to trade peer-to-peer (P2P), participate in margin trading, and make use of advanced trading options like futures contracts.
Binance users in Australia can:
- Hold and trade crypto at competitive fees
- Earn interest on crypto with Binance savings accounts
- Use advanced features that include trading pairs, futures, and trading on margin
- Spend crypto easily with Binance credit cards
- Take out loans in crypto
CoinSpot is an Australian crypto exchange platform that was founded in 2013. It is a well-established and trusted platform that offers users professional trading features, including stop-loss and limit orders. CoinSpot also caters to institutional investor accounts worldwide, so businesses in Australia can work with CoinSpot with managed accounts.
CoinSpot users in Australia can:
- Easily buy, sell, and convert between 280 different cryptos
- Call the exchange’s help desk at any time
- Set up institutional investing accounts
- Use lock-in pricing
Swyftx is a popular Australia-based exchange that offers users a streamlined experience from the get go. It is easy and quick to create an account, verify your identity, and transfer AUD from your POLi Pay, PayID or OSKO accounts to start trading. There are over 260 different digital assets available for trading on the exchange and the platform offers excellent trading tools, including advanced charts with TradingView and real-time feeds. The exchange has received a slew of positive user reviews highlighting its great user interface and customer service experience.
Swyftx users in Australia can:
- Take advantage of 24/7 live chat support
- Deposit AUD through a variety of methods
- Use advanced charting tools
- Trade without deposit fees and only 0.6% trading fees
Kraken is a United States-based crypto exchange that Australian citizens can use. It is currently ranked fourth on the list of highest volume exchanges on CoinMarketCap and offers close to the same number of coins for trading as other U.S. options like Coinbase and Gemini. Kraken positions itself as one of the most trusted exchanges and offers around-the-clock customer support to help users with their accounts. This is an important feature as many other exchanges have received complaints regarding their lack of customer-facing infrastructure and live support.
Kraken users in Australia can:
- Trade by depositing AUD into secure accounts
- Use well-designed charting tools
- Access a customer support service at any time
- Take advantage of low trading fees
Coinbase is a platform that is incredibly easy to use. Its interface and mobile application have a simple and appealing UX and design. The platform is currently the second-largest exchange by daily traded volume globally and is the most popular exchange in the United States. It is viewed as one of the safest platforms and has reported no major security breaches to date.
Australian users can open an account with either Coinbase or Coinbase Pro (the latter for advanced trading options). Users can use a debit or credit card to make purchases or transfer funds directly from their bank accounts. However, Coinbase only supports roughly 50 different coins for purchase and trading.
Coinbase users in Australia can:
- Safely purchase and trade digital assets after depositing AUD
- Earn crypto rewards by watching educational videos
- Take part in staking
- Store coins in cold storage using Coinbase vault
- Feel secure thanks to multiple security and user authentication features
Bittrex is a U.S.-based crypto exchange that is regarded as safe and highly reliable. Its trading engine is one of the fastest in the crypto space and facilitates speedy transactions and orders. Bittrex charges higher fees as compared to other exchanges, taking a flat fee of 0.25% per trade. However, users can, over time, accumulate “credits” that they can later use to execute zero-fee trades. Bittrex thoroughly vets its supported cryptocurrencies, which is great for protecting traders.
Bittrex users in Australia can:
- Purchase and trade 350 coins (on par with Binance)
- Store coins on a very secure platform
- Make fiat deposits and purchases using a Bittrex credit card
- Earn credits to access commission-free trades
Gemini is a U.S.-based exchange established in 2015. The exchange offers traders a crypto investing experience that includes more sophisticated features at slightly higher trading fees. The platform has launched programs for users to earn up to 7.4% APY on their assets and also offers benefits like the Gemini credit card. Gemini has a very easy-to-use interface and supports 45 different coins, in line with many other leading U.S.-based exchanges.
Gemini users in Australia can:
- Earn crypto on the exchange through various programs
- Store crypto with institutional-grade security protection
- Rest assured by Gemini’s strong emphasis on regulatory compliance
- Purchase crypto easily via credit card or bank transfer