Skip to section
Choosing the most convenient and reliable cryptocurrency exchange that understands the needs of Australian investors is the first step in growing your crypto portfolio. From charging low trading fees to offering a wide range of altcoins, the best crypto exchanges in Australia help you trade digital currencies with confidence.
In this guide, I ranked and reviewed the 7 best Australian crypto exchanges and highlighted my #1 choice for November 2023, so that you can start trading sooner:
- Both beginner and experienced traders will find an excellent crypto app option on this list.
- While I rank and review the most popular and reputable cryptocurrency exchanges available to Australians, my list isn’t limited to Australian exchanges only.
- Some crypto investors may choose two or more exchanges to buy and sell crypto, taking advantage of the best features of each.
Best overall crypto exchange in Australia.
Aussie traders searching for a top Australian exchange may choose CoinSpot, a Melbourne-based exchange founded in 2013.
Hailed by many as the most secure crypto app in the country, CoinSpot has earned a reputation for providing a safe crypto trading environment and supportive customer care.
This Aussie platform gives global giants like eToro some competition for the best crypto app for first-time crypto traders.
CoinSpot stands above competitors for its trusted security measures that protect users and their money.
This crypto exchange is a certified member of Blockchain Australia and boasts ISO 27001 certification, which means it has proven its high level of security through in-depth audits by SCI Qual International.
Users can customise account security through custom settings like withdrawal and session timeout limits and two-factor authentification.
However, CoinSpot offers free AUD deposits through various deposit methods, including PayID, POLi, and bank transfers.
Users can also deposit AUD using credit and debit cards, cash, and BPAY, although deposit fees apply for these deposit methods.
This crypto exchange also allows staking on 21 coins for users who want to make passive income through crypto interest; the cryptos in the CoinSpot Earn Program at this time include but are not limited to:
- Ether (ETH).
- Cardano (ADA).
- Polygon (MATIC).
- Luna Classic (LUNC).
- Solana (SOL).
CoinSpot offers traders access to the vast NFT marketplace OpenSea. Users can buy and sell NFTs using digital currencies in their crypto wallets.
This is a huge bonus compared to competitor crypto apps that require certain coins or fiat currencies for NFT purchases, resulting in currency exchange fees and longer time commitments.
This exchange’s desktop site and mobile apps offer intuitive, uncluttered dashboards that make learning the ropes easy and getting help when needed.
Users can chat with customer support 24/7 and submit service tickets through the Help Desk.
Coinspot charges Market orders and OTC transaction fees of 0.1% but doesn’t offer the lowest trading fees on instant trades or swaps.
These transactions incur trading fees of 1%. Though not higher than the average cryptocurrency exchange, this is higher than some other options in this review.
Only crypto assets are available. Leverage on crypto assets isn’t available, either.
Many reviews I read during my research include a lack of card deposit methods as a con for this platform, but this is no longer correct.
CoinSpot now accepts credit and debit deposit methods for Australian Visa or Mastercard users.
However, users cannot use an international card, American Express card, crypto debit card, or prepaid card as a payment method on CoinSpot.
Using a debit or credit card also includes a fee of 2.58%, the highest among the deposit fees on this platform.
Beginner traders looking for crypto exchanges in Australia should consider CoinSpot. This exchange has been a leader in the Australian crypto market for a decade and claims the title of the most secure crypto app for Aussie traders.
If you live in Australia and want to try trading cryptocurrencies for the first time, CoinSpot is the best crypto exchange for you.
Best crypto exchange in Australia for building a diversified portfolio.
eToro scores highly in my review of top crypto exchanges because of its easy-to-use interface, innovative social trading features, solid safety credentials and convenient Android and iOS mobile apps.
With more than 25 million users across 140 countries, including Australia, the United Kingdom, and the United States, eToro is ideal for first-time crypto investors.
In addition to cryptocurrency, the eToro marketplace includes commodities, stocks, ETFs, and options trading opportunities.
(Related: eToro Review: Pros, Cons, Fees & Ugly Details).
eToro is a user-friendly platform offers several benefits to beginners with no experience buying and selling crypto on an exchange:
- Staking. Unlike many other exchanges, eToro provides crypto staking.
- Security: eToro users enjoy a crypto trading environment regulated by the Australian Securities and Investments Commission (ASIC) and AUSTRAC.
- Demo mode: The demo account is one of my favourite features on any crypto exchange. eToro gives new users $100,000 in play money to help them learn how to trade crypto before risking actual funds.
- Low fees: eToro only charges a 1% commission fee when users buy and sell crypto, which is low to average among trading fees. This platform also charges a flat fee of $5 for withdrawals.
Another feature that attracts crypto traders of all skill levels is the copy trading feature. Copy trading allows users to mimic the moves of successful investors on the platform.
This innovative feature requires you to invest a minimum of $200.
Copy trading provides an excellent option for beginners who need help choosing viable investments. Users can copy the activity of traders in eToro’s Popular Investor Program.
Popular investors on this platform receive payments for each user who copies them, providing a win-win situation for everyone.
Rather than buying and selling individual coins, users can invest in cryptocurrency asset bundles focusing on long-term profits. eToro requires a minimum investment of $500 in a Smart Portfolio.
Lastly, eToro embraces the social aspects of trading by providing users with personalised, Twitter-style news feeds.
Users can follow other traders, track cryptos, share posts, and comment on the posts of others to fuel conversations on buying crypto, managing risk, and more.
(Related: 13 Best Share Trading Platforms In Australia).
Despite its reputation as a popular and trusted crypto app, eToro does present some drawbacks.
One of the most significant disadvantages for Australian investors is the need for currency conversion.
This crypto exchange also falls behind competing platforms in the limited number of cryptocurrencies. Many crypto exchanges offer hundreds of coins, but eToro offers only 79.
However, these offers do include popular coins like Bitcoin (BTC), Ether (ETH), and Litecoin (LTC).
eToro may not provide the best crypto app option for advanced traders seeking comprehensive analyses beyond pricing charts.
The platform is relatively basic and best suited to beginner and intermediate traders. Investors who want access to more technical analysis features may consider another crypto exchange on this list.
Finally, the customer service provided by eToro has left some users less than impressed. Non-members of the eToro Club must rely on email correspondence and service tickets for customer support.
Despite some drawbacks, eToro offers the best cryptocurrency exchange in Australia. You can enjoy a friendly interface with opportunities to learn from successful investors within a legitimate, secure exchange licenced by the ASIC.
Investors interested in many investment vehicles can find a range of assets on the eToro marketplace, including stocks and ETFs.
If you want to purchase crypto using a reputable and user-friendly exchange with best-in-class social features, I recommend eToro.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD. Real crypto assets are unregulated & highly speculative. Being unregulated, there is no consumer protection. Your capital is at risk.
Best cryptocurrency exchange for advanced traders.
If you have experience trading crypto and need the best crypto app for derivatives trading and margin trading, ByBit is an excellent choice.
Founded in 2018, ByBit offers Aussie traders a unique cryptocurrency exchange with margin trading and derivatives trading opportunities.
(Related: What Are The Best CFD Brokers In Australia?)
Crypto investors who make many daily trades benefit from a lightning-fast transaction speed of 100,000 trades per second and a daily trading volume of over $10 billion.
Users enjoy a full suite of trading tools and features, including a copy trading program, an NFT market, and a Rewards Hub where users can earn cash awards for completing specific tasks.
ByBit was created as a derivatives trading platform and has grown into a popular crypto exchange with more than 2 million registered accounts. Users benefit from several trading options not offered by other exchanges.
Advanced traders with high risk tolerances should consider this platform for margin and derivatives trading opportunities.
Not many crypto exchanges offer margin trading, and those that do often have low leverage maximums of 5x to 20x.
ByBit offers up to 100x leverage, providing traders with high trade potential.
Experienced traders seeking insight into cryptocurrency price movement without owning coins can trade in crypto derivatives. ByBit offers:
- Tether (USDT) perpetual contracts.
- Inverse perpetual contracts.
- Inverse futures contracts.
The derivatives market on ByBit includes more than 150 available contracts.
ByBit expanded users’ trading abilities in 2021 when it began offering spot trading.
This addition was a natural response to popular demand, with many other exchanges offering a crypto spot market. ByBit provides more than 220 coins users can trade against USDT.
Choosing trading platforms with demo accounts is essential for beginner traders to learn about crypto trading markets without risk.
Australian traders must use ByBit’s fiat gateway to buy the USDT, BTC, and ETH to be traded on the marketplace.
- You cannot deposit AUD directly into your exchange account.
Luckily, the fiat gateway accepts many deposit methods, including Google Pay, Apple Pay, Samsung Pay, Visa, Mastercard, bank transfer, PayID, and more.
If you use the ByBit fiat gateway, keep an eye on the fees involved. ByBit doesn’t charge fees for using the gateway, but third-party servicers do.
Before purchasing the fiat gateway, review the service provider and their fees to manage your expectations.
This exchange lacks the regulation of other crypto apps, which means riskier trading for users. Lack of regulation means users do not need to verify their identities before buying and selling crypto on the exchange.
- This may be an advantage to some users who want to begin trading immediately without waiting for verification.
- Still, it opens the door for potential scammers, and users should use caution on the Peer-to-Peer (P2P) exchange.
Although ByBit doesn’t require verification, it does restrict withdrawals and deposits for users who have yet to pass a KYC (know your customer/client) check.
Users can pass a level one check with a government-issued ID and a selfie and a level two check with proof of address, such as a bank account statement or utility bill with their name and address.
ByBit is a top exchange for traders interested in crypto derivatives and margins.
Beginner traders may not prefer this platform’s complexity, but experienced traders enjoy its variety of highly scalable trading instruments and customisable, robust trading interface.
I recommend ByBit to crypto traders with some experience who want to explore trading opportunities beyond spot trading and enjoy competitive trading fees.
Best all-rounder crypto exchange.
Experienced crypto traders who want access to the largest crypto exchange in the world by trading volume look to Binance, an exchange platform launched in 2017.
Many users consider this well-known crypto exchange the best cryptocurrency app in Australia: it supports more than 600 cryptocurrencies and has a list of trading features, including spot trading and futures trading.
It also offers a P2P exchange, NFT marketplace, and several interfaces to suit traders of all experience levels. Serious, high-volume traders enjoy deep liquidity within a massive crypto marketplace.
The main differentiator for Binance is its size. This popular cryptocurrency exchange boasts more than 120 million registered users and a massive 24-hour trading volume of $38 billion.
This crypto exchange also offers a wide range of trading features, including spot trading, margin trading, P2P trading, futures trading, derivatives trading, and staking.
Users can use staking options to earn interest on idle coins through the Simple Earn feature. Traders on this platform can also buy and sell NFTs or mint their own NFTs on the NFT marketplace.
Digital currencies are changing how the world looks at money, and you can witness this first-hand with a Binance Visa card.
With a Visa card from Binance, users can spend their held crypto at more than 60 million merchants around the globe and earn 8% cash back on eligible purchases.
This card doesn’t include annual fees, foreign exchange fees, or ATM withdrawal fees.
Binance sets itself apart from other crypto apps in Australia by providing three interface options:
- The Basic interface suits users new to the world of trading crypto with a simplified view. The Binance app can be overwhelming for beginner traders, but the basic interface helps ease users into the process without too much confusing clutter on the screen.
- The Classic interface suits users with some experience with crypto trading. It displays more market data than the basic version but does not include every trading tool.
- The Advanced interface displays every available tool and chart so serious traders can make decisions directed by real-time data.
Finally, I must address Binance’s impressive response to the 2019 cyber attack that stole $40 million of Bitcoin from the platform.
Did You Know?
Binance protected its users from loss by covering the stolen funds.
It’s fair to assume Binance would not still be the largest crypto exchange in the world had the company not illustrated its willingness to protect users from financial loss.
Binance does fall short in some regards as an Australian cryptocurrency exchange.
Traders in Australia don’t have access to the platform’s margin trading features, so Aussie traders looking for this feature may want to choose another crypto exchange like ByBit.
However, if you have the time and motivation to learn a somewhat complex platform, Binance is a full-featured exchange with low trading fees and a vast selection of cryptocurrencies.
Some reviewers report losses due to phishing scams on the platform. Unfortunately, scammers exist on every investment platform, not just crypto exchanges.
Binance advises users NEVER to give out their private keys for their Binance wallets. Check out this helpful article on the Binance site explaining the different phishing scams you might encounter.
Lastly, Binance is licenced to provide crypto exchange services to Australia by the Australian Transaction Reports and Analysis Center (AUSTRAC) but lacks registration with other regulatory bodies in Australia.
If you join the hundreds of millions of users on Binance, you can access your account on your computer or through the mobile app on your Android or iOS device.
Traders who make many daily trades enjoy this platform’s wide variety of trading features, low trading fees, and deep liquidity.
If you’re an experienced crypto trader looking for advanced features and frequent trading within a very liquid marketplace, Binance is your best crypto exchange.
Good crypto platform for low fees.
Another top choice among crypto exchanges in Australia is Swyftx. This may be the best crypto app for you if you’re looking for an Australia-based exchange with low trading fees and a risk-free demo mode.
First-time traders benefit from a simple interface, while serious traders enjoy access to the real-time price data and integrated charts they need to make informed crypto trades.
Swyftx supports hundreds of cryptocurrencies and provides a secure exchange for selling and buying crypto.
I included this platform as the fifth-best cryptocurrency app in Australia for many reasons, including the following:
- No AUD deposit fees.
- Low trading fees of 0.6%.
- Credit and debit card deposit methods.
- ISO 27001 certification for secure information management.
- Two–factor authentication and other security measures.
- Automatic buying and selling features.
- Transparent, small crypto spreads.
- Crypto staking on many popular currencies.
- User–friendly mobile apps for Android and iOS devices.
- Live chat support.
The low fees and intuitive interface make Swyftx an excellent choice for anyone just starting in the cryptocurrency market.
If you’ve never purchased crypto on an exchange before, I recommend taking advantage of a demo option to get to know the process without risking your own capital.
The disadvantages of choosing Swyftx generally apply to advanced crypto traders. They include:
- No features for margin, derivatives, or futures trading.
- No NFT marketplace or P2P trading.
- No instant buy options.
- Focus on beginners with limited advanced features.
Swyftx caters well to new traders, but experienced traders who want to expand their crypto portfolios with various asset types like NFTs may benefit less from this platform.
Aussie traders looking for reputable crypto trading platforms that support AUD deposits turn to Swyftx.
This Australian crypto app provides a safe and secure platform for beginning your journey into the realm of crypto.
However, if you’re an experienced trader who wants more than simply buying and selling options, you may try another exchange, such as eToro, ByBit, or Binance.
Good all-around crypto exchange.
If you’re searching for a global exchange with a solid reputation and a long history of security, you may join the millions of users on Kraken.
Founded in 2011, Kraken has been one of the best crypto apps worldwide for over a decade.
This platform supports more than 190 countries, including Australia, New Zealand, Canada, the United States, the United Kingdom, and many more.
Users in Australia can instantly deposit AUD through Osko or PayID or wait one to two business days for a bank transfer from a bank account.
Kraken offers more than 185 cryptocurrencies, a decent number but not the highest on my list. Traders will find many popular coins on this exchange, including BTC, LTC, ETH, ADA, and many more.
Kraken also regularly adds new coins to the exchange, consistently expanding users’ trading options.
Other pros of choosing Kraken include the following:
- More than 12 crypto assets for staking.
- Instant buying and selling feature.
- Secure NFT marketplace and forex trading opportunities.
- Deep liquidity, with the daily trade volume often exceeding $500 million in USD.
- Low trading fees are designed to drive engagement and liquidity.
- User-friendly interface and intuitive mobile apps for Android and iOS.
- Support for purchasing crypto using fiat currency.
- 24/7 customer care via email, chat, and phone.
- ISO 27001 certification.
Users worried about hackers and other security concerns can feel confident about trading on Kraken. This long-running exchange has experienced no major hacking events in its decade of operation.
Drawbacks to Kraken include higher trading fees than other crypto apps in Australia. For example, the exchange charges 1.5% for instant buying and selling transactions.
Other cons of choosing Kraken include the following:
- Complex fee structure and higher trading fees than competitors.
- Cryptocurrency limitations for Australian users.
- Limited margin trading or derivatives trading for Australian users.
- Limited funding options for AUD.
Kraken appeals to traders at all experience levels and provides a safe option for Aussie traders. However, Australians do have some limitations on this platform.
Kraken doesn’t provide the largest selection of cryptocurrencies, but it remains one of the best crypto apps for its worldwide availability, advanced security, and variety of trading features.
New traders enjoy simple navigation and top-notch security, while high-wealth traders benefit from competitive trading fees as low as 0%.
Good for people who like to trust large brands.
Another excellent choice for high security and trading feature variety is Crypto.com. You may try this crypto app if you’re looking for a beginner-friendly global exchange with 0% buying and selling commission fees.
Crypto.com was founded in 2016 and has quickly grown to one of the top crypto exchanges with more than 70 million worldwide users.
I couldn’t create a list of the best crypto apps without including this one due to its sheer variety of crypto assets and other perks, like the Crypto.com Visa Card and great staking options available to Australian users.
One of the main benefits of Crypto.com is the Visa Card, a prepaid card available to users staking the exchange’s token, CRO. The more money the user has staked in CRO, the better the perks.
Potential perks include cashback and rebates on Spotify, Netflix, Prime, and more.
Other benefits of this crypto app include the following:
- More than 250 cryptocurrencies.
- More than 20 supported fiat currencies.
- Staking on more than 40 crypto coins.
- NFT marketplace.
- The polished, easy-to-use platform on desktop and mobile.
- No fees for converting fiat currencies.
- Free AUD deposits using PayID.
- $750 million insurance fund to protect users.
- Several security certifications.
Users with questions and concerns can contact customer support through email and live chat. Like other exchanges on this list, reviews on customer service quality vary.
Crypto.com suffered a major hacking event in 2022, making some users hesitant to use this exchange. Since the attack, the company has reportedly improved its security.
Other drawbacks of Crypto.com include the following:
- Geographical restrictions for some crypto assets.
- Higher spreads compared to competitors.
- AUD trading is limited to mobile apps.
- Limited learning resources compared to competitors.
If you want to purchase crypto coins and other assets using your desktop computer, Crypto.com isn’t the best cryptocurrency exchange in Australia.
Users spending AUD must use the Crypto.com mobile app for Android and iOS due to a lack of support on the desktop version.
Despite its accessibility limitations for Aussie traders, Crypto.com offers a user-friendly cryptocurrency exchange with robust features and ample opportunities to earn rewards.
If you use your phone or another mobile device for most of your financial apps, being limited to mobile may not bother you as much as it would for some users.
I highly recommend this app for experienced traders who want to earn passive income and reap the benefits of the Crypto.com Visa Card.
5 Factors To Consider When Choosing The Best Crypto Trading Platform.
Finding the best place to buy crypto in Australia depends mainly on the user’s preferences, experience level, risk tolerance, and other factors.
When choosing your ideal cryptocurrency exchange, consider the following:
1. Trading Fees.
Fees eat into your profit margins, but they’re a necessary evil. Crypto exchanges make their money through these fees, so a fair cut is normal.
But be vigilant for unexpected hidden fees, or fees that penalise you for efficiencies in the system. For example:
- High currency conversion fees. If the platform doesn’t let you trade in Australian dollars, you may need to convert funds to USD first. Check this fee to ensure you don’t get ripped off.
- Deposit fees. We’re in 2023, people. The days of paying fees for the luxury of giving your business to a financial entity are long gone.
- Withdrawal fees. See above.
2. Coin Selection.
Some crypto exchanges only support 5-10 cryptocurrencies, while others support hundreds (including obscure altcoins).
- A huge selection of altcoins is nothing but a vanity metric.
Many of these altcoins are edge projects, likely to fizzle out within 6 months.
- Will you be investing your hard-earned Aussie dollars into RadioCaca (RACA)?
Didn’t think so.
The best crypto exchanges offer a baseline of established coins like Bitcoin, Polkadot, Ethereum and XRP, plus the flexibility to pick from 20-100 altcoins.
3. Reputation And Regulation.
You need to feel confident that your exchange takes security seriously.
While even the most secure and regulated exchanges have either been hacked or have unexpectedly folded (FTX, anyone?), you can keep an eye on a few data points to minimise your risks:
- AUSTRAC Certification. Imposes a KYC (know your customer) policy on the exchange to prevent money laundering and other nefarious activities.
- Mandatory 2FA. Protects your login. Don’t trade on an exchange that doesn’t protect your trading app with two layers of security.
- ISO 28001 Certification (optional). Provides an additional layer of security to the exchange’s IT infrastructure. CoinSpot and Swyftx are the only two exchanges in this review to hold this certification as of January 2023.
4. Customer Service.
Test the responsiveness and helpfulness of a crypto exchange by submitting a support ticket. Evaluate the response against these criteria:
- How fast was the response? (Sub 3 hours is great, sub 24 hours is OK, anything above is problematic).
- How useful was the response (Was the issue sorted out with 1 ticket? Did the agent solve the issue or simply point you towards online resources that you could have Googled yourself?).
5. Ease Of Use.
A crypto exchange must have an intuitive interface with desktop and mobile apps as standard. Check for:
- Clean design.
- Ability to buy/sell crypto on the fly.
What Is The Safest Way To Buy Bitcoin In Australia?
Prices for Bitcoin went crazy in 2020, then they came crashing down. You can lose a lot of money if you don’t buy Bitcoin the proper way, so let me share with you a few best practices:
- Have an investment plan. Successful traders and investors think 4-5 purchases ahead. This is particularly important in crypto because it is so volatile. Start with the end in mind (e.g., “my goal is to have $500,000 in 5 years”), then work back from it to match it up with the number of investments you need to make (e.g., “assuming a 15% return, I need to invest $2,000 every month”).
- Go slow if you feel FOMO. Many Australians overpaid for Bitcoin in 2020 because they bought into the hype and allowed their emotions to take over. Prevent this from happening by sleeping on your decision for 1 night any time you feel FOMO. Create some distance between you and your decision, and you’ll be better equipped to reason through your decision and stick to your investment plan.
- Buy your Bitcoin from a reputable crypto exchange. Choose one of the best cryptocurrency exchanges in this review. I did the heavy lifting so that you can get started without getting bogged in research mode.
Use a crypto exchange to purchase your cryptocurrency, but don’t use it for storage. Crypto wallets are a safer and more convenient mechanism for storing your crypto.
Are Australian Crypto Exchanges Better Than Global Exchanges?
No. In the past, crypto exchanges headquartered in Australia had to be registered with AUSTRAC, and global exchanges were exempt from such regulation.
- This provided Australians with an added layer of security.
Fast forward to 2023, and all global exchanges I recommended in this review operate through Australian companies.
When trading on the best global exchanges, you effectively trade through its Australian subsidiary and are protected by AUSTRAC’s Anti-money Laundering (AML) and Counter-Terrorism Financing (CTF) laws.
Bottom Line About Best Crypto Exchanges In Australia.
My list doesn’t account for all the Australian exchanges, but I’m confident you’ll find the best site to buy Bitcoin in Australia among my top choices.
Whether you’re interested in fiat-to-crypto or crypto-to-crypto trading, one of these exchanges will suit your preferences and help you reach your crypto goals.
Before choosing your next cryptocurrency exchange, consider the supported coins, trading features, trading fees, available deposit methods, and security features.
- If you’re looking for the ideal exchange for beginners, I highly recommend eToro, ByBit, or Swyftx for their helpful demo mode options.
- If you’re searching for a business geared more toward experienced traders who make many trades per day, you may prefer the Binance app.
If you need a good place to start, my number one choice for the best cryptocurrency app in Australia is eToro, a global exchange with low trading fees, tons of investment options, and a solid reputation for providing a secure, low-risk trading environment.
Give it a try for $100,000 in play money through this exchange’s fantastic demo mode.
I hope you’ve found this list helpful, and I wish each reader the best of luck as you embark upon (or continue) your cryptocurrency journey.
What Is The Best Crypto Exchange For Beginners?
eToro is the best beginner crypto exchange in Australia for people who want to create a long-short multi-asset portfolio that includes crypto. Meanwhile, Coinspot is the best option for people who want to trade crypto only.