15 Best Crypto Exchanges Australia Compare Top Crypto Trading Platforms In Australia 2023

This is also referred to as a foreign currency conversion fee and typically varies from 0.5% to 1.5%. Overall, Freetrade may be a good option for regular traders wanting a cheap, no frills trading account. Investors can buy a wide range of overseas shares, and it charges one of the lowest foreign exchange – fees of 0.5%. Further to that, investors can hold foreign currencies in their account, rather than having to convert from pounds sterling for each trade. It offers a wide choice of investments, together with the lowest foreign exchange fee of 0.15% and the option of buying fractional shares.

• You won’t have to pay a fee if you deposit in USD if you’re a US citizen.
• There is an abundance of markets including spot, margin, leveraged tokens, derivatives trading, options, copy-trading, free crypto trading bots, and a P2P platform.
• In return, it charges handsomely for the smooth service — 1% per transaction.
• Security is a paramount concern when talking about cryptocurrencies, and you would have heard of many security breaches over the years, even of large crypto exchanges.
• For experienced traders, Binance provides a suite of advanced trading options such as various order types, automated trades, and charting tools to enhance their trading experience.
• They concentrate on margin trading, which can provide up to 100 times leverage for BTC/USD and ETH/USD trading pairs.

Firstly, its bank-grade security features have enabled it to keep an outstanding track record of no hacks since its establishment in 2013. Secondly, CoinSpot maintains the very best standards in information security by upholding the requirements of its internationally recognised ISO accreditation. Simply put, CoinSpot has been operating for a long time and has rightfully developed a strong reputation as a reliable crypto services provider. Getting started can be confusing if you are new to crypto, while on the other hand, more experienced traders may want a platform that offers more advanced features.

Best Crypto Exchange Australia for 2023

To help, we have compared a wide selection of platforms for various categories that will suit Australian investors. These are our final picks for the best cryptocurrency exchanges in Australia. In addition, some cryptocurrency exchanges or platforms may have minimum purchase amounts or trading fees that you’ll need to consider when determining how much money you need to buy crypto.

• Bitcoin BSC holders now find themselves presented with a similar opportunity, as forecasts suggest its price is poised for substantial growth.
• While you’re ideally picking an exchange with the lowest costs, dwelling too much on the ins and outs of maker and taker fees can be counterproductive.
• There is even a ByBit referral code to claim up to $5,000 in deposit bonuses.
• Altcoins are all cryptos other than Bitcoin, and their prices are typically highly correlated with crypto prices.
• That is to say, you’ll pay a fixed fee when you buy your chosen asset, and again when you cash out.

It has an effective compliance program that keeps users’ accounts and funds safe and secure. You can also join other traders and copy their trading strategies with the social trading features. Patrick McGimpsey is a freelance writer passionate about crypto and its impact on the financial world. Currently working as the content lead for Australian startup CryptoTaxCalculator, Patrick has also covered the crypto industry for Canstar and The Chainsaw.

ByBit

It also has “social” and “copy” trading options to allow beginner investors to interact with more experienced investors. Overall, IG is likely to appeal to more confident traders who want a wide range of more complex investments, together with advanced trading tools. Interactive investor does not offer a fee reduction for frequent traders although clients receive one free trade a month immediate edge avis under the Investor plan (£11.99 per month). If you like to buy overseas shares, you’ll pay a £9.99 trading fee for non-US shares plus the highest foreign exchange fee of 1.5% (for transactions under £25,000). Trading platforms provide software programs that allow investors to buy and sell shares, funds and other investments directly, rather than indirectly through a financial adviser.

• Other platforms, on the other hand, support up to 200 crypto assets, stablecoins, and DeFi tokens (e.g. ERC-20 tokens).
• Read independent reviews and find out about as many user experiences as possible – both positive and negative – to find out what the exchange is doing well and where it could do better.
• Additionally, DEXs reduce counterparty risk by eliminating the need for user funds to pass through a third-party cryptocurrency wallet during trading.
• EToro is one of the most prominent brokers in the world, established in 2007.
• You can be sure that the liquidity levels will be low if you join an unknown crypto trading platform.
• With a market cap of $16.6 billion, Crypto.com’s CRO coin is ranked 12th on the list of digital coins.

The trading fees here are drastically lower than the brokerage market, starting from 0.1%. With various crypto assets and blockchain-related products available, Crypto.com is a prominent crypto exchange. An extensive list of currencies is available for users to trade, and trading – fees are relatively low. In addition, the company provides cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and a marketplace for NFTs. You can also earn up to 14.5% interest by holding your cryptocurrency in a Crypto.com wallet for a set period.

Top Factors To Consider When Choosing The Best Crypto Exchange Australia

The Australian Taxation Office (ATO) has set clear rules for taxing digital assets. Within this framework, cryptocurrencies are classified as a type of property and are considered assets subject to Capital Gains Tax (CGT). This means if you’re an Australian resident, you are liable to pay tax on any profit you make from cryptocurrency or NFT investments, just as you would from other types of property investments.

For more information on the categories examined when comparing the top cryptocurrency exchanges, read our exchange review methodology process. Coinbase is one of the safest places to buy and store crypto assets that features industry-leading security measures to ensure customer funds and personal information are kept safe at all times. Examples include 98% cold storage of all customer funds, safe deposit boxes and vaults around the world, 2 Factor Authentication, and secure coin storage using AES-256 encryption.

#11. CoinJar Exchange – Use CoinJar card to spend your crypto like cash

The funds raised from this sale will be used to construct new gyms, and early investors will also receive rewards. These tokens can then be reinvested into the staking pool or swapped for other cryptos on exchanges. Users will be able to dictate which polls are created and all votes will be completely anonymous. By scanning items for recycling on the EcoTerra app, users earn $ECOTERRA. Using blockchain technology, Ecoterra accelerates economic processes by carving a market for recycled materials and creating a hub for coaxing people to recycle through incentives. This helps individuals earn and increase the recycling rate, thereby helping the environment.

• The wallet also gives you access to the larger web3 ecosystem with more passive investing solutions – including liquidity pools.
• Before making any financial commitment you should seek professional advice from a qualified investment or financial adviser.
• It is generally compatible with iOS and Android platforms if your chosen crypto trading platform offers an app.
• Intermediate and advanced traders can use KuCoin’s world-class interfaces to place spot, margin trading (up to 10x), and futures (up to 100x) trades.
• It also makes it here because of its user-friendliness, affordability, and the fact that it grants investors access to a range of crypto assets.

Credit cards can be used as a payment method to buy over 210 digital currencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Ethereum Classic (ETC), Algorand (ALGO), and Monero (XMR). Not quite the selection compared to the likes of Swyftx and Binance, however, very serviceable nonetheless for beginners and altcoin traders. With its ease of use a major strength, particularly if you’re new to crypto, CoinSpot falls down in its fee structure. Beginners who don’t want to see or use complex looking charts will prefer the simplicity of the Instant Buy/Sell feature.

BEST FOR ADVANCED TRADERS

Cryptocurrency exchanges are platforms that allow users to buy and sell cryptocurrencies directly from and to other users. On an exchange, you can place orders to buy or sell specific cryptocurrencies at a specified price. These orders are matched with other users who are looking to buy or sell the same cryptocurrency at the same price. Exchanges often have a wide range of cryptocurrencies available and allow for greater control over the buying and selling process. When looking for the best cryptocurrency platforms and exchanges, there are several key factors to consider.

Swyftx has gained a huge amount of popularity just in the last 2 years but they show no signs of stopping. Binance also offers a broader range of tools than other trading platforms as a specialized cryptocurrency trading platform. As a day trader, you will analyze patterns and spot trading opportunities with the help of several charting and analysis tools.

Swyftx: Best Australian crypto exchange

Centralised exchanges offer a convenient way to store cryptocurrencies, but users place their trust in a third party to safeguard their assets. If the exchange experiences any issues, as was the case with FTX, the user’s crypto could be at risk. There have been numerous instances of exchanges being hacked, resulting in the loss of investor tokens.

We recommend investing through the all-popular, low-cost, and highly reputable eToro crypto exchange. Start by confirming the licensing and regulation status of your preferred crypto exchange. Secondly, confirm the crypto exchange’s reputation by going online reviews by their current and past platform users. The massively popular decentralized exchange also gives you access to the larger DeFi ecosystem.

Best Trading Platforms Australia in September 2023

The trading platform will charge you a 0.6% trading fee and 2 AUD for withdrawals and deposits under AUD 200 — there is a zero fee for deposits and withdrawals above this amount. What’s more, you can use Swyftx to buy, and swap coins, with incredible ease (they also have one of the best crypto apps). The user-friendly interface gives an immediate impression that Swyftx was designed exclusively for beginners. If you want to amplify the size of your trading capital, then you’ll want to use a platform that offers leverage. As we briefly noted earlier, Australians will be capped to the amount of leverage they can apply from April 2021 if they are classed as a retail trader. That’s essentially anyone that doesn’t meet the requirements of a professional trader.

• The network also has its own native token called DOT, which is used for governance, staking, and transaction fees.
• Best of all, you can trade forex on Plus500 without paying any commission.
• However, being a global crypto trading exchange, Kraken provides you with products and services that are not typically offered by local Australian exchanges.
• Some platforms charge no fee for this, others charge a flat fee and some charge a percentage, typically 0.25% to 0.45% of the value of your portfolio.

The application also alerts you about changes in the prices of the cryptos you are interested in buying. Inexperienced or new traders may take some time to get used to the different strategies. You would also like to avoid missing out on learning opportunities during your period of learning.

Trading platforms

Be aware of any deposit and withdrawal limits that you may be subjected to when using the exchange. Learn how to bridge assets from Ethereum to Polygon, enhancing efficiency with Layer 2 solutions. By following these steps and using a trustworthy, regulated platform, you can safely and efficiently purchase cryptocurrencies in Australia. Each candle represents the price movement of an asset over a previous period of time. Common candlestick patterns to look out for include bullish/bearish pin bars, engulfing candles and dojis. Breakout trading is the process of spotting these trends when they begin and placing buy or sell orders to profit as the trend continues.

• Once you are comfortable trading on the testnet platform and you are ready to trade for real, you can easily transition to the normal site.
• Overall, Independent Reserve is a reliable exchange for serious crypto investors, however, doesn’t boast an impressive list of features as its competitors.
• The app has all features, including margin trading, leverage market, trading bots, and spot trading for instant buying.
• I tested it out by adding it to Apple Pay, and had no issues using crypto to make purchases in store and online.
• Levels of liquidity determine how easily and swiftly you can complete trades.
• It also offers one of the lowest foreign exchange fees, starting at 0.39% (for the Plus plan) up to 0.99% (for the Basic plan).

While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed. However, Forbes Advisor Australia cannot guarantee the accuracy, completeness or timeliness of this website. Some of our top recommendations are Swyftx and Coinspot as well as Binance, Digital Surge and Coinjar. To rate and rank the exchanges we review, we look at (and test) factors like ease of use, fees, trading features, and support. Keep in mind that we didn’t review every single exchange available, and depending on your situation, the exchange you prefer might be different from the ones we picked.