Best Cryptocurrency Exchange in Australia 2021

Australia is one of the leading countries that accepts cryptocurrency. It was made legal in 2017 making Australia a fintech industry leader.

Since the dawn of the blockchain revolution, the regulation of cryptocurrencies and crypto exchanges has evolved dramatically. BitcoinMarket.com, the world’s first cryptocurrency exchange, debuted in 2009 and set the path for today’s leading cryptocurrency exchanges.

Sometimes, finding the right crypto exchange might be a very difficult task especially if you are a beginner. A lot of crypto exchange platforms have made their way into the Australian market. Australian law demands KYCs and AML (Anti Money Laundering) information from the users.

In order to save investors from the trouble of finding the right cryptocurrency trading platform all by themselves, we have compiled a list of the best cryptocurrency exchanges in Australia. The list is based on essential user-related factors like methods of deposit, ease of usage, trading fees, customer support, and security.

List of Top Exchanges in Australia

  • Cointree
  • Bitcoin Australia
  • BTC Markets
  • CoinJar
  • Independent Reserve
  • Plus500
  • Coinspot
  • Swyftx
  • Digital Surge

1. Cointree

Cointree happens to be a cryptocurrency exchange in Australia that allows its users to buy bitcoin along with other coins using local currency. This is quite a well known exchange that has made itself popular as one of Australia’s favorite digital currency platforms. This is widely considered to be the best Australian crypto exchange by many.

Prositcoi

  • It is a platform that is very easy to use and is extremely beginner friendly. Beginners can buy bitcoin swifty using the platform.
  • The platform offers enough support for the SMSF investors.
  • It allows the users to purchase crypto in a recurring manner.
  • There is a mobile application through which users can trade.
  • Using Cointree would enable the users to pay their bills via cryptocurrency.

Cons

  • The major problem of Cointree is that it follows a rather lengthy process to verify its users, which might cause some inconvenience to people signing up for the first time.
  • There happen to be some hidden costs on the site that end up getting accumulated.

Cointree Fees

The fee structure used by Cointree happens to be a three-tier one. The range varies between 0.5% and 0.9% and  depends on the trading volumes. The fees of trading charged on the site can be said to be reasonable for investors who have higher net worth.  However, Australian traders who are just getting started on crypto exchange, might not find it as the cheapest option to start.

It is also to be noted that the spread existing between the ask and bid is quite on the higher side in comparison to various other crypto exchanges.

2. Bitcoin Australia

Bitcoin Australia is one of the Australian crypto exchanges that is quite a highly rated one and gives users the opportunity to buy Ethereum and Bitcoin. The site offers a smooth and fast experience to its users even if they are not experienced traders and is quite easy to navigate through. Bitcoin Australia happens to offer a plethora of offline and online payment method options like cash deposit at 1200 newsagents. This makes it a leading cryptocurrency exchange.

Pros

  • The primary advantage of this local exchange is the simplicity of the website which makes it very easy to use. The ordering experience is very straightforward, and this ensures a hassle-free purchase of bitcoins.
  • Another benefit of this advanced trading platform is that it does not take any custody of the users’ crypto assets. The crypto assets belong only to the user.
  • The site also offers many methods of payment, thus making it easier for users to trade instantly.

Cons

  • One of the problems that one might face while trading cryptocurrencies on Bitcoin is the high fees that the site charges. The fees of Bitcoin Australia range between five to seven percent plus GST, and this is on top of the market rates that it generally charges.
  • Another con of this site is that it sells Bitcoins at around one percent of the rates available in the mid-market.
  • The selection of choices are really limited on the site. A user can only buy crypto like  Ether or Bitcoin and as for selling options, there are only Bitcoins to sell.

Bitcoin Australia Fees

Bitcoin Australia has a higher trading fee. The exchange charges 5 to 7% fees excluding GST on purchase of Bitcoins. However, the trading fee depends on the payment method that a user chooses.

3. BTC Markets

Martin Bajalan, a Bitcoin enthusiast, launched BTC Markets in September 2013 in Melbourne, Australia. Bajalan was also one of the nine founding members of the Bitcoin Foundation’s Australian chapter.

The exchange is still privately held, and touts itself as a “Blockchain technology business,” with a management team that has considerable expertise in both IT and financial services sectors. A staff with expertise in software development, cyber security (web and network), payments processing, and the integration of Blockchain technology make up the IT know-how of BTC Markets.

Pros

  • The trading fees offered by this site are quite low in comparison to other popular Australian crypto exchange sites.
  • Users do not have to provide any amount of deposit to start trading cryptocurrency on the platform.
  • It is a simple platform, therefore making it easy to use for both experienced traders as well as beginners.
  • BTC Markets charges zero withdrawal fees on withdrawals made with cash, and as for crypto withdrawals, the charges are also very low. This makes it one of the most popular exchanges.

Cons

  • This site allows only six of the large capped cryptocurrencies. This is a drawback as far as digital currency is concerned. Users looking to trade cryptocurrencies over a wide range will be disappointed.
  • Margin trading is unavailable on the site.
  • Only a fiat currency is supported by the AUD.

BTC Market Fees

The fee offered by the BTC Markets happens to be one of the lowest available in the market. On this site, the trading fee between cryptocurrencies is only .22 percent. Fees for trading volume on the site are: AUD to cryptocurrency transactions up to $500 start at 0.85%. Fees for AUD to crypto trading can be as low as 0.1 percent for transactions of $5 million AUD and more, such as buying $10,000. The fees for the available coins range from $0.01 to $18,000.

4. CoinJar

CoinJar happens to be one of the longest running crypto-trading platforms available in Australia and has made its presence felt in the international market as well. It is a rather simple exchange for people not having much experience in the crypto field and offers a lot of trading features along with competitive fees.

Pros

  • The primary benefit of using this crypto trading platform is that it has been in the market for quite some time and has made a reputation for itself.
  • There are a number of deposit methods available on the site.
  • The site also offers a mobile application to make it easier for the Australian traders to do crypto trades.
  • The number of CoinJar users goes beyond the 40k mark.
  • There are a bunch of crypto materials available on the site that are quite innovative in nature.

Cons

  • One of the major drawbacks of this Australian exchange is the complicated interface that some users might find difficult to handle.
  • The charting features available on the site are really limited and this is another drawback of CoinJar.

CoinJar Fees

CoinJar charges its users a flat fee of one percent across all categories of assets so that they can start trading crypto in an instant. The fees on this site have been found to be rather high in comparison to other cryptocurrency exchanges in Australia. Users can choose to use the CoinJar exchange which offers a different sort of fee structure.

5. Independent Reserve

Independent Reserve, which was launched in Sydney in 2013, is a long-running and extremely trustworthy Australian cryptocurrency exchange with a quicker verification time as compared to other Australian exchanges. New Independent Reserve customers are often confirmed within an hour of registration.

Pros

  • Independent Reserve happens to be the first Australian crypto exchange to be insured. This makes it one of the most secure exchanges.
  • The trading fees are not extremely high on the site.
  • Users have access to a tax calculator while using the site.
  • The site also offers cold storage wallets.

Cons

  • The coin range available on the Independent Reserve is quite limited.
  • The charting features of the site are also limited in quality.
  • There are only twenty four cryptocurrencies that users can deal in.

Independent Reserve Fees

Independent Reserve charges a fee based on the trading volume of the previous 30 days, which starts at 0.5 percent for each transaction. As the trade volume rises, the costs can decrease to as low as 0.02 percent. However, a recalculation is made on this every four hours.

6. Plus500

Plus500 is quite a renowned name in the field of CFD providers that deal in Forex, Shares, Indices, Options, and ETFs. This regulated exchange is a CFD provider, and offers its trading tools and services to customers throughout the world.

Pros

  • This platform is extremely easy to navigate and use as compared to other cryptocurrency trading platforms. This Australian exchange is suitable for beginners as well as more expert traders who want to buy crypto.
  • Another benefit is that the customer support team is always ready to offer help to the users.
  • The process of opening an account is hassle-free and easy.

Cons

  • There is a limitation of products on Plus500 as users can only deal in CFDs.
  • The available fees of CFDs are quite average in nature.
  • The research devices available on the site are rather mediocre in nature.

Plus500 Fees

The site offers the majority of its services free of cost. There are no deposit or withdrawal fees that users have to pay. However, the users should note that if the limited number of monthly withdrawals is exceeded, they will be charged a $10 fee.

A conversion fee may be charged if they use an overseas credit card or make a bank transfer. In these instances, the bank, not Plus500, determines the conversion cost. Thus bank transfer or credit card payments are not free. Although, it’s advised to check this link to know the full fee structure of Plus500.

7. Coinspot

Coinspot is among the best Australian exchanges, especially for beginners in the field of crypto. The dashboard is quite easy to handle and remains clutterfree, making it easier for users to buy cryptocurrencies and digital currencies in a smooth manner.

Pros

  • The greatest benefit of using Coinspot is that it is extremely easy for people who are just beginning to trade in crypto.
  • The company is strongly established and chances of being scammed are near to zero. Other exchanges have been known to be scammed.
  • There are a plethora of available deposit methods to choose from.
  • The site ensures secure exchanges.

Cons

  • Coinspot does not offer a phone or mobile app, which might cause inconvenience to some Australian traders who might prefer to trade from their phones.
  • The site does not allow margin trading.

Coinspot Fees

The transaction fees charged on Coinspot depend solely on how the user places orders on the site. The trading fee that a user will be charged to instantly sell cryptocurrency, swap, or buy one  is a flat one percent. Overall, the trading costs are designed for novices who want to trade in Bitcoin and cryptocurrencies for the first time using fiat currencies like Australian dollars.

However, for active buyers and cryptocurrency traders, the trading fees are excessively expensive, since the 1% fee will eat into any possible earnings.

8. Swyftx

Swyftx works as a reliable platform for bitcoin exchange. It is a rather new platform with a user base touching 30k where one can buy digital currencies like bitcoin and sell them. Swyftx is a well designed and reliable crypto-trading platform. Swyftx’s mobile app is suitable for both novice and expert traders due to its simple design and ease of use.

Pros

  • This is among the best exchanges in Australia, Swyftx provides a platform that even novice Australian investors would find very easy to use.
  • The verification process on this site is very swift.
  • There is also a mobile application that makes it easier for the users to perform cryptocurrency exchanges.
  • The site also offers fees that are quite low in comparison to the market prices.
  • The facility of averaging the dollar costs is also available on the site.

Cons

  • One of the major cons is that the minor foreign exchange fees on cash deposit and withdrawals undermine the overall value for money.
  • The automatic conversion to fiat currencies like AUD is also another disadvantage that the site has.

Swyftx Fees

The site charges a fee of 0.6% in case of buy and sell deals. There is availability of solid liquidity that allows the users to have spreads from the range of 0.45% and decreased slippage. The fees structure of Swyftx makes it one among the best Australian crypto exchanges.

9. Digital Surge

Digital Surge is good for users who are looking to buy bitcoin. The site offers its users the opportunity to buy bitcoin with the help of fiat currency like AUD, or altcoins amounting to 200+. Digital Surge, based out of Brisbane, is on a quest to make bitcoin usable in everyday life.

The platform, which is designed to be simple to use, lets users deposit fiat currency like Australian dollars (AUD) via bank transfer, such as PayID, OSKO, and POLi Payments, which then can be spent on a variety of over 200 cryptocurrencies.

Pros

  • It offers over two hundred cryptos.
  • The interface is extremely easy to navigate.
  • The site enables two-factor authentication for the users.

Cons

  • The site does not support transactions made through credit cards.
  • Only supports fiat currency deposits done through the AUD.

Digital Surge Fees

The instant selling and buying fee on the site is 0.5%. The exchange rates on the site are quite competitive in comparison with the market price.

Conclusion

These are some of the best platforms available in Australia that would work for both novice and expert traders. This article will get a complete list of the Best Australian crypto exchanges that will help you choose a suitable exchange for buying and selling cryptos.

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Best Cryptocurrency Exchange in Australia 2021

Posted by staff on December 17, 2021

cryptocurrency Insights & Tutorials


Best Cryptocurrency Exchange in Australia 2021

Australia is one of the leading countries that accepts cryptocurrency. It was made legal in 2017 making Australia a fintech industry leader.

Since the dawn of the blockchain revolution, the regulation of cryptocurrencies and crypto exchanges has evolved dramatically. BitcoinMarket.com, the world’s first cryptocurrency exchange, debuted in 2009 and set the path for today’s leading cryptocurrency exchanges.

Sometimes, finding the right crypto exchange might be a very difficult task especially if you are a beginner. A lot of crypto exchange platforms have made their way into the Australian market. Australian law demands KYCs and AML (Anti Money Laundering) information from the users.

In order to save investors from the trouble of finding the right cryptocurrency trading platform all by themselves, we have compiled a list of the best cryptocurrency exchanges in Australia. The list is based on essential user-related factors like methods of deposit, ease of usage, trading fees, customer support, and security.

List of Top Exchanges in Australia

  • Cointree
  • Bitcoin Australia
  • BTC Markets
  • CoinJar
  • Independent Reserve
  • Plus500
  • Coinspot
  • Swyftx
  • Digital Surge

1. Cointree

Cointree happens to be a cryptocurrency exchange in Australia that allows its users to buy bitcoin along with other coins using local currency. This is quite a well known exchange that has made itself popular as one of Australia’s favorite digital currency platforms. This is widely considered to be the best Australian crypto exchange by many.

Prositcoi

  • It is a platform that is very easy to use and is extremely beginner friendly. Beginners can buy bitcoin swifty using the platform.
  • The platform offers enough support for the SMSF investors.
  • It allows the users to purchase crypto in a recurring manner.
  • There is a mobile application through which users can trade.
  • Using Cointree would enable the users to pay their bills via cryptocurrency.

Cons

  • The major problem of Cointree is that it follows a rather lengthy process to verify its users, which might cause some inconvenience to people signing up for the first time.
  • There happen to be some hidden costs on the site that end up getting accumulated.

Cointree Fees

The fee structure used by Cointree happens to be a three-tier one. The range varies between 0.5% and 0.9% and  depends on the trading volumes. The fees of trading charged on the site can be said to be reasonable for investors who have higher net worth.  However, Australian traders who are just getting started on crypto exchange, might not find it as the cheapest option to start.

It is also to be noted that the spread existing between the ask and bid is quite on the higher side in comparison to various other crypto exchanges.

2. Bitcoin Australia

Bitcoin Australia is one of the Australian crypto exchanges that is quite a highly rated one and gives users the opportunity to buy Ethereum and Bitcoin. The site offers a smooth and fast experience to its users even if they are not experienced traders and is quite easy to navigate through. Bitcoin Australia happens to offer a plethora of offline and online payment method options like cash deposit at 1200 newsagents. This makes it a leading cryptocurrency exchange.

Pros

  • The primary advantage of this local exchange is the simplicity of the website which makes it very easy to use. The ordering experience is very straightforward, and this ensures a hassle-free purchase of bitcoins.
  • Another benefit of this advanced trading platform is that it does not take any custody of the users’ crypto assets. The crypto assets belong only to the user.
  • The site also offers many methods of payment, thus making it easier for users to trade instantly.

Cons

  • One of the problems that one might face while trading cryptocurrencies on Bitcoin is the high fees that the site charges. The fees of Bitcoin Australia range between five to seven percent plus GST, and this is on top of the market rates that it generally charges.
  • Another con of this site is that it sells Bitcoins at around one percent of the rates available in the mid-market.
  • The selection of choices are really limited on the site. A user can only buy crypto like  Ether or Bitcoin and as for selling options, there are only Bitcoins to sell.

Bitcoin Australia Fees

Bitcoin Australia has a higher trading fee. The exchange charges 5 to 7% fees excluding GST on purchase of Bitcoins. However, the trading fee depends on the payment method that a user chooses.

3. BTC Markets

Martin Bajalan, a Bitcoin enthusiast, launched BTC Markets in September 2013 in Melbourne, Australia. Bajalan was also one of the nine founding members of the Bitcoin Foundation’s Australian chapter.

The exchange is still privately held, and touts itself as a “Blockchain technology business,” with a management team that has considerable expertise in both IT and financial services sectors. A staff with expertise in software development, cyber security (web and network), payments processing, and the integration of Blockchain technology make up the IT know-how of BTC Markets.

Pros

  • The trading fees offered by this site are quite low in comparison to other popular Australian crypto exchange sites.
  • Users do not have to provide any amount of deposit to start trading cryptocurrency on the platform.
  • It is a simple platform, therefore making it easy to use for both experienced traders as well as beginners.
  • BTC Markets charges zero withdrawal fees on withdrawals made with cash, and as for crypto withdrawals, the charges are also very low. This makes it one of the most popular exchanges.

Cons

  • This site allows only six of the large capped cryptocurrencies. This is a drawback as far as digital currency is concerned. Users looking to trade cryptocurrencies over a wide range will be disappointed.
  • Margin trading is unavailable on the site.
  • Only a fiat currency is supported by the AUD.

BTC Market Fees

The fee offered by the BTC Markets happens to be one of the lowest available in the market. On this site, the trading fee between cryptocurrencies is only .22 percent. Fees for trading volume on the site are: AUD to cryptocurrency transactions up to $500 start at 0.85%. Fees for AUD to crypto trading can be as low as 0.1 percent for transactions of $5 million AUD and more, such as buying $10,000. The fees for the available coins range from $0.01 to $18,000.

4. CoinJar

CoinJar happens to be one of the longest running crypto-trading platforms available in Australia and has made its presence felt in the international market as well. It is a rather simple exchange for people not having much experience in the crypto field and offers a lot of trading features along with competitive fees.

Pros

  • The primary benefit of using this crypto trading platform is that it has been in the market for quite some time and has made a reputation for itself.
  • There are a number of deposit methods available on the site.
  • The site also offers a mobile application to make it easier for the Australian traders to do crypto trades.
  • The number of CoinJar users goes beyond the 40k mark.
  • There are a bunch of crypto materials available on the site that are quite innovative in nature.

Cons

  • One of the major drawbacks of this Australian exchange is the complicated interface that some users might find difficult to handle.
  • The charting features available on the site are really limited and this is another drawback of CoinJar.

CoinJar Fees

CoinJar charges its users a flat fee of one percent across all categories of assets so that they can start trading crypto in an instant. The fees on this site have been found to be rather high in comparison to other cryptocurrency exchanges in Australia. Users can choose to use the CoinJar exchange which offers a different sort of fee structure.

5. Independent Reserve

Independent Reserve, which was launched in Sydney in 2013, is a long-running and extremely trustworthy Australian cryptocurrency exchange with a quicker verification time as compared to other Australian exchanges. New Independent Reserve customers are often confirmed within an hour of registration.

Pros

  • Independent Reserve happens to be the first Australian crypto exchange to be insured. This makes it one of the most secure exchanges.
  • The trading fees are not extremely high on the site.
  • Users have access to a tax calculator while using the site.
  • The site also offers cold storage wallets.

Cons

  • The coin range available on the Independent Reserve is quite limited.
  • The charting features of the site are also limited in quality.
  • There are only twenty four cryptocurrencies that users can deal in.

Independent Reserve Fees

Independent Reserve charges a fee based on the trading volume of the previous 30 days, which starts at 0.5 percent for each transaction. As the trade volume rises, the costs can decrease to as low as 0.02 percent. However, a recalculation is made on this every four hours.

6. Plus500

Plus500 is quite a renowned name in the field of CFD providers that deal in Forex, Shares, Indices, Options, and ETFs. This regulated exchange is a CFD provider, and offers its trading tools and services to customers throughout the world.

Pros

  • This platform is extremely easy to navigate and use as compared to other cryptocurrency trading platforms. This Australian exchange is suitable for beginners as well as more expert traders who want to buy crypto.
  • Another benefit is that the customer support team is always ready to offer help to the users.
  • The process of opening an account is hassle-free and easy.

Cons

  • There is a limitation of products on Plus500 as users can only deal in CFDs.
  • The available fees of CFDs are quite average in nature.
  • The research devices available on the site are rather mediocre in nature.

Plus500 Fees

The site offers the majority of its services free of cost. There are no deposit or withdrawal fees that users have to pay. However, the users should note that if the limited number of monthly withdrawals is exceeded, they will be charged a $10 fee.

A conversion fee may be charged if they use an overseas credit card or make a bank transfer. In these instances, the bank, not Plus500, determines the conversion cost. Thus bank transfer or credit card payments are not free. Although, it’s advised to check this link to know the full fee structure of Plus500.

7. Coinspot

Coinspot is among the best Australian exchanges, especially for beginners in the field of crypto. The dashboard is quite easy to handle and remains clutterfree, making it easier for users to buy cryptocurrencies and digital currencies in a smooth manner.

Pros

  • The greatest benefit of using Coinspot is that it is extremely easy for people who are just beginning to trade in crypto.
  • The company is strongly established and chances of being scammed are near to zero. Other exchanges have been known to be scammed.
  • There are a plethora of available deposit methods to choose from.
  • The site ensures secure exchanges.

Cons

  • Coinspot does not offer a phone or mobile app, which might cause inconvenience to some Australian traders who might prefer to trade from their phones.
  • The site does not allow margin trading.

Coinspot Fees

The transaction fees charged on Coinspot depend solely on how the user places orders on the site. The trading fee that a user will be charged to instantly sell cryptocurrency, swap, or buy one  is a flat one percent. Overall, the trading costs are designed for novices who want to trade in Bitcoin and cryptocurrencies for the first time using fiat currencies like Australian dollars.

However, for active buyers and cryptocurrency traders, the trading fees are excessively expensive, since the 1% fee will eat into any possible earnings.

8. Swyftx

Swyftx works as a reliable platform for bitcoin exchange. It is a rather new platform with a user base touching 30k where one can buy digital currencies like bitcoin and sell them. Swyftx is a well designed and reliable crypto-trading platform. Swyftx’s mobile app is suitable for both novice and expert traders due to its simple design and ease of use.

Pros

  • This is among the best exchanges in Australia, Swyftx provides a platform that even novice Australian investors would find very easy to use.
  • The verification process on this site is very swift.
  • There is also a mobile application that makes it easier for the users to perform cryptocurrency exchanges.
  • The site also offers fees that are quite low in comparison to the market prices.
  • The facility of averaging the dollar costs is also available on the site.

Cons

  • One of the major cons is that the minor foreign exchange fees on cash deposit and withdrawals undermine the overall value for money.
  • The automatic conversion to fiat currencies like AUD is also another disadvantage that the site has.

Swyftx Fees

The site charges a fee of 0.6% in case of buy and sell deals. There is availability of solid liquidity that allows the users to have spreads from the range of 0.45% and decreased slippage. The fees structure of Swyftx makes it one among the best Australian crypto exchanges.

9. Digital Surge

Digital Surge is good for users who are looking to buy bitcoin. The site offers its users the opportunity to buy bitcoin with the help of fiat currency like AUD, or altcoins amounting to 200+. Digital Surge, based out of Brisbane, is on a quest to make bitcoin usable in everyday life.

The platform, which is designed to be simple to use, lets users deposit fiat currency like Australian dollars (AUD) via bank transfer, such as PayID, OSKO, and POLi Payments, which then can be spent on a variety of over 200 cryptocurrencies.

Pros

  • It offers over two hundred cryptos.
  • The interface is extremely easy to navigate.
  • The site enables two-factor authentication for the users.

Cons

  • The site does not support transactions made through credit cards.
  • Only supports fiat currency deposits done through the AUD.

Digital Surge Fees

The instant selling and buying fee on the site is 0.5%. The exchange rates on the site are quite competitive in comparison with the market price.

Conclusion

These are some of the best platforms available in Australia that would work for both novice and expert traders. This article will get a complete list of the Best Australian crypto exchanges that will help you choose a suitable exchange for buying and selling cryptos.

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