With the cryptocurrency market in Oceania growing quickly, selecting the best crypto exchange in Australia is crucial for those interested in trading or investing. Finding a platform that suits your level of expertise and objectives can greatly impact your experience.
Whether you’re looking for the safest and most secure crypto exchange in Australia or seeking a platform with fees to purchase Bitcoin, this article will assist you in exploring your choices.
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- Trade 240+ cryptos
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Top crypto exchanges and apps in Australia at a glance
Here is a brief overview of the top cryptocurrency exchanges in Australia. Our list caters to traders of all skill levels, from novices to seasoned investors.
- Independent Reserve: Independent Reserve is the number-one choice for crypto investors in Australia. It’s both an intuitive and simple platform for buying crypto, and a professional trading site with advanced tools and features. It’s also highly safe and secure, and the sign-up process is quick.
- Kraken: Known for its trading features, offering services such as spot trading, staking, and competitive fee structures. It stands out as a choice for experienced traders seeking robust security measures and sufficient liquidity in their transactions.
- Coinbase: This platform is favored by both newcomers and experienced traders, offering user-friendliness alongside a wide range of more than 150 cryptocurrencies. This makes it a preferred choice for Australian investors.
- eToro: Renowned for its CopyTrader functionality, eToro enables individuals to imitate the tactics of successful traders, making it an ideal platform for newcomers.
- Binance: Known for its range of cryptocurrencies and competitive fees, Binance is the leading crypto exchange globally by trading volume. It’s the go-to platform for traders and those interested in delving into various altcoins.
- OKX: With its fees and speedy transactions, OKX stands out in a crowded marketplace, offering a range of trading options such as futures and derivatives. For Australian traders seeking a swift and effective platform, it’s an excellent option.
- Swyftx: A platform for newcomers in Australia providing a user-friendly interface, competitive fees, excellent customer service, and a demo feature for simulated trading.
How we chose the best crypto exchanges in Australia
We analyzed Australian crypto exchanges using criteria functionality, number of assets available, security, and fees.
Our expert reviewers also used their own experience with the platform to judge subjective qualities like ease of use and customer service. Read more about how we rank crypto exchanges in Australia in our full methodology below.
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An in-depth look at the best exchanges in Australia
A deeper analysis of these platforms showcases their advantages, disadvantages, and distinctive characteristics.
1. Independent Reserve – Best for high-volume traders and tax features
Why we chose Independent Reserve
Independent Reserve is a platform suited for traders who require robust tax reporting capabilities. With its features and tax integration, it stands out as a preferred option for Australian investors, aiming to enhance their trading strategies and streamline their tax reporting.
Review of Independent Reserve
Independent Reserve, an established cryptocurrency exchange in Australia, serves both individual traders and institutional investors. Its notable feature is the advanced tax tools that enable users to monitor their transactions and create tax reports effortlessly.
The platform offers support for more than 25 cryptocurrencies, including popular ones such as Bitcoin, Ethereum, and Litecoin, although this is a smaller selection compared to many other exchanges.
Regarding fiat currencies, it supports AUD, NZD, and USD, with payment options like bank transfers and SWIFT.
The platform operates on a maker-taker fee model and stands out for its security, storing the funds in cold storage and providing insurance for assets. It’s registered with AUSTRAC, ensuring regulatory compliance, and offers protection against theft or hacking. On the other hand, the fees can be less competitive for smaller trades compared to other exchanges.
With customer support options like chat and email, Independent Reserve is a dependable platform for both novice and seasoned traders. However, its more limited currency offerings and lack of beginner-friendly features may not appeal to everyone.
Independent Reserve coins, fees, payment methods & more
| Cryptocurrencies | 28+ |
| Payment methods | Bank transfer, SWIFT, Osko |
| Trading fees | Maker: 0.05% – 0.5%Taker: 0.1% – 0.5%Instant purchases: N/A |
| Customer service | Live chat, email |
| Regulation | AUSTRAC-registered |
| KYC required? | Yes |
Pros and cons of Independent Reserve
Pros
- Ideal for high-volume traders with its tiered fee structure that reduces costs as trading volume increases.
- Offers strong tax reporting features that help users track their trades and easily generate tax reports.
- Provides robust security measures, including insurance for digital assets, 2FA, and cold storage, ensuring high levels of user protection.
- Supports multiple fiat currencies like AUD, NZD, and USD, making it a flexible option for users across different regions.
Cons
- The selection of cryptocurrencies is more limited compared to other major exchanges.
- Higher fees for lower-volume traders can be a downside for those who do not trade large amounts frequently.
2. Kraken – Best overall for advanced trading features
Why we chose Kraken
Kraken is widely recognized as the premier exchange for Australian traders thanks to its sophisticated features and competitive fees. Its offerings of margin trading, futures, and high security make it a preferred choice among users looking for versatile trading opportunities and ample liquidity.
In November 2024, Kraken launched licensed crypto derivatives services in Australia.
Review of Kraken
Kraken stands out as a prominent player in the cryptocurrency exchange arena, providing a platform tailored to meet the needs of both high-volume traders and institutional clients. With support for over 200 cryptocurrencies such as Bitcoin, Ethereum, and various altcoins, it has become a preferred choice for seasoned traders.
Renowned for its fees, Kraken employs a fee structure that ranges from 0% to 0.26% based on trading activity. The platform’s advanced trading functionalities, including margin trading, futures, and staking, offer opportunities for users seeking more than just trading.
The platform is also registered with AUSTRAC, guaranteeing that it complies with Australian regulations, which provides users with an additional level of trust.
Kraken prioritizes security through audits, encryption, and keeping the majority of its assets in cold storage. However, newcomers may find Kraken’s interface and features a bit intimidating. The lack of AUD withdrawals could be a downside for certain users in Australia.
Kraken coins, fees, payment methods & more
| Cryptocurrencies | 361+ |
| Payment methods | Bank transfer, Debit card, PayID |
| Trading fees | Maker: 0.16% – 0.26%Taker: 0.10% – 0.26%Instant purchases: Up to 4% |
| Customer service | 24/7 web chat, email, phone support |
| Regulation | AUSTRAC-registered |
| KYC required? | Yes |
Pros and cons of Kraken
Pros
- Advanced trading features with options like margin trading and futures, ideal for seasoned traders.
- Low fees for high-volume users, making it cost-effective for active traders.
- Extensive selection of over 200 cryptocurrencies, including popular coins like Bitcoin and Ethereum.
- Top-tier security with regular audits and compliance with AUSTRAC regulations.
Cons
- Steep learning curve for beginners due to its advanced interface and features.
- Higher fees for instant buy transactions, which might not be ideal for quick trades.
- No instant AUD withdrawals, which may delay access to funds for Australian users.
3. Coinbase – The Best exchange for user experience
Why we chose Coinbase
Coinbase is recognized for its user-friendly platform and reputation as a reliable cryptocurrency exchange. Its straightforward design appeals to casual investors and those exploring the realm of digital currencies for the first time.
Coinbase has resurrected its plan to tokenize securities. In other words, crypto traders can trade blockchain-based stocks or bonds or digital assets that mirror their prices from the financial markets.
Review of Coinbase
Coinbase is a well-known and trusted cryptocurrency exchange platform known for its user-friendly design, catering to newcomers. With a variety of over 150 cryptocurrencies, including Bitcoin and Ethereum, it offers a range of trading options.
Moreover, through its Coinbase Learn initiative, the platform offers resources to help educate novice investors on the complexities of cryptocurrency trading.
Coinbase charges fees that vary, between 0.4% and 1%. While this is higher compared to some competitors, the exchange makes up for it by offering robust security measures. This includes insuring digital assets and adhering to AUSTRAC regulations for users in Australia. In addition, Coinbase provides a user-friendly experience for converting fiat currency into cryptocurrency, an app with smooth functionality, and a range of payment options.
On the other hand, traders might feel that the platform lacks features such as margin trading and futures. These advanced options are exclusively available on Coinbase Advanced Trade’s platform.
Coinbase coins, fees, payment methods & more
| Cryptocurrencies | 280+ |
| Payment methods | PayID, Bank transfer, Debit card |
| Trading fees | Maker: 0.4%Taker: 0.6%Instant purchases: Up to 4% |
| Customer service | 24/7 support via web chat, email, phone |
| Regulation | AUSTRAC-registered |
| KYC required? | Yes |
Pros and cons of Coinbase
Pros
- Simple, easy-to-use interface that’s ideal for beginners
- Strong security, with compliance with AUSTRAC and insurance for digital assets
- Offers educational tools and rewards for learning about cryptocurrency
- Supports a wide variety of cryptocurrencies, including top coins like Bitcoin and Ethereum
Cons
- Higher trading fees compared to other exchanges
- Limited advanced trading features such as margin trading
- Instant buy transactions come with higher fees than standard trades
4. eToro – Best for social trading and copy trading
Why we chose eToro
eToro shines in the world of trading thanks to its copy trading function that allows users to automatically replicate the trades of successful investors. This feature distinguishes eToro as a platform catering to beginners and those who prefer a more involved style of trading.
Review of eToro
eToro is known for its trading features that let users copy the strategies of other traders. This platform provides a practical and educational experience, helping beginners learn by watching how traders operate.
Besides cryptocurrencies such as Bitcoin, Ethereum, and Cardano, eToro also offers options for investing in stocks, commodities, and exchange-traded funds (ETFs).
eToro’s fee structure is straightforward. The platform imposes a 1% fee on each trade, along with the market spread. Although this may be pricier than alternatives, the user-friendliness, adherence to regulations, and distinctive social features offer substantial benefits for beginners in trading.
Furthermore, eToro is registered with AUSTRAC ensuring a safe and regulated trading atmosphere for Australians. Besides its web-based platform, eToro also offers a mobile app, catering to users who enjoy trading while on the move.
eToro coins, fees, payment methods & more
| Cryptocurrencies | 100+ |
| Payment methods | Credit/Debit card, PayPal, Bank transfer |
| Trading fees | Maker: Flat 1% (plus market spread)Taker: Flat 1% (plus market spread)Instant purchases: N/A |
| Customer service | Live chat, email |
| Regulation | AUSTRAC-registered |
| KYC required? | Yes |
Pros and cons of eToro
Pros
- Allows users to copy trades from experienced investors, making it a great platform for beginners
- User-friendly interface that simplifies trading for both casual and new traders
- Multi-asset trading platform with the ability to trade cryptocurrencies, stocks, and ETFs
- Regulated and compliant with AUSTRAC, offering a secure environment for Australian users
Cons
- Flat 1% trading fee is higher than many other exchanges
- Limited selection of cryptocurrencies compared to competitors focused solely on crypto
Cryptoassets are unregulated & highly speculative. No consumer protection. Capital at risk.
5. Binance – Best for low fees and altcoin variety
Why we chose Binance
For altcoin enthusiasts, Binance stands out as a popular choice. It offers a wide range of cryptocurrencies and appealing trading fees, allowing individuals to broaden their investment portfolio by delving into various coins while minimizing expenses.
Review of Binance
Binance, the leading cryptocurrency exchange globally in terms of volume, provides Australian traders with a selection of more than 500 digital currencies. These include well-known options such as Bitcoin and Ethereum, as well as more obscure altcoins.
With fees beginning at 0.1%, Binance stands out for its pricing, making it a preferred platform for active traders and those dealing in volumes.
Apart from its range of coins, Binance offers trading features like futures and margin trading, a thriving NFT marketplace, and a variety of decentralized finance (DeFi) opportunities. Seasoned traders are attracted to the platform’s array of tools, such as detailed charting and technical analysis capabilities.
Although Binance has encountered challenges limiting AUD deposits for users, it still allows trading through crypto deposits. The platform is not presently registered with AUSTRAC, which may be a factor for users prioritizing adherence to regulations.
Binance coins, fees, payment methods & more
| Cryptocurrencies | 398+ |
| Payment methods | Crypto only (no AUD deposits) |
| Trading fees | Maker: 0.1%Taker: 0.1%Instant purchases: 4% |
| Customer service | Live chat |
| Regulation | Not AUSTRAC-registered |
| KYC required? | Yes |
Pros and cons of Binance
Pros
- Wide selection of over 500 cryptocurrencies, offering extensive altcoin trading options
- Low trading fees, starting at just 0.1%, make it highly cost-effective for frequent traders
- Advanced trading tools such as futures, margin trading, and DeFi options
- High liquidity ensures quick and efficient transactions, even for large-volume trades
Cons
- No support for direct AUD deposits or withdrawals, limiting payment options for Australian users
- Not registered with AUSTRAC, which may concern users seeking locally regulated exchanges
- The interface can be complex and overwhelming for beginners due to the vast array of features
6. OKX – Best for instant purchases and low fees
Why we chose OKX
OKX stands out for its low trading fees, appealing to budget-friendly traders. Moreover, it offers a variety of cryptocurrencies and advanced features catering to both novice and experienced traders. This versatility makes it a great platform for users in Australia.
Review of OKX
OKX is a worldwide crypto exchange that has gained popularity for its trading fees, which range from 0.005% to 0.1% based on user trading volume. This cost structure appeals to budget-minded traders, particularly those engaged in frequent transactions.
The platform offers support for more than 350 cryptocurrencies, including well-known options like Bitcoin and Ethereum, as well as a wide array of altcoins.
This exchange isn’t registered with AUSTRAC, which could raise concerns among Australians. However, OKX remains popular due to its user-friendly app and features such as margin trading, futures trading, and staking that appeal to both new and experienced investors.
A notable feature is the demo trading mode that allows beginners to test their strategies before using real money. OKX also offers resources to help users become familiar with trading.
Despite these advantages, the absence of support for AUD deposits and withdrawals may be a drawback for Australian users who prefer using currency to fund their accounts.
OKX coins, fees, payment methods & more
| Cryptocurrencies | 311+ |
| Payment methods | Bank transfer, credit/debit card, P2P transfers |
| Trading fees | Maker: 0.005% – 0.1%Taker: 0.005% – 0.1%Instant purchases: N/A |
| Customer service | 24/7 support via live chat and email |
| Regulation | Not AUSTRAC-registered |
| KYC required? | Yes |
Pros and cons of OKX
Pros
- The platform’s low trading fees make it one of the most cost-effective exchanges, especially for frequent traders.
- Broad range of over 350 cryptocurrencies, giving users a wide selection of assets to trade and diversify their portfolios.
- Advanced trading tools, including futures, margin trading, and staking, appeal to both novice and experienced traders.
- Educational tools and a demo trading mode are available, helping new users learn and practice before using real funds.
Cons
- Not registered with AUSTRAC, which might concern users looking for a locally regulated exchange in Australia.
- No support for direct AUD deposits or withdrawals, limiting payment options for Australian users seeking easy fiat access.
7. Swyftx – Best for Beginner-Friendly Tools and Support
Why we chose Swyftx
Swyftx was chosen for our list due to its easy-to-use interface and excellent support, making it an attractive choice for Australians venturing into cryptocurrency trading. The platform offers fees and high-quality customer service to help beginners build their confidence.
Review of Swyftx
Swyftx, an Australian exchange, stands out for its smooth interface and dedication to customer satisfaction. Offering a range of 320 cryptocurrencies, it caters to novice and experienced traders alike.
One noteworthy feature of the platform is its demo mode, which allows users to hone their trading skills without risking real money. This functionality is especially valuable for those venturing into the complex world of cryptocurrencies.
When it comes to fees, Swyftx stands out with trading charges of 0.6% and spreads starting at 0.41%. The platform accommodates payment options, such as PayID, bank transfers, and credit/debit cards, offering flexibility for Australian customers. Moreover, Swyftx is registered with AUSTRAC, ensuring adherence to regulations.
For those looking for tools, Swyftx provides features like orders that enable users to automate their cryptocurrency purchases. The platform’s emphasis on education and customer support further cements its reputation as a choice for newcomers.
Swyftx coins, fees, payment methods & more
| Cryptocurrencies | 440+ |
| Payment methods | PayID, bank transfer, credit/debit card, BPAY |
| Trading fees | Maker: 0.6%Taker: 0.6%Instant purchases: 0.6% + as low as 0.41% spread |
| Customer service | Live chat, email, phone |
| Regulation | AUSTRAC-registered |
| KYC required? | Yes |
Pros and cons of Swyftx
Pros
- Provides a demo mode, making it easy for beginners to practice trading without risking real funds.
- Competitive fees and low spreads ensure users get good value when trading cryptocurrencies.
- Supports over 320 cryptocurrencies, giving users access to a broad range of assets for diversification.
- Excellent customer support, including live chat and phone options, ensuring users get timely help when needed.
- Fully compliant with AUSTRAC, offering Australian users peace of mind with local regulatory adherence.
Cons
- Trading fees are higher than some other exchanges in the market.
- Lacks more advanced trading features such as margin or futures trading, which might limit options for experienced traders.
The best crypto exchanges in Australia compared
| Exchange | Cryptos | Payment methods | Fees | License |
| Independent Reserve | 25+ | Bank transfer, SWIFT, Osko | Maker: 0.05% – 0.5%Taker: 0.1% – 0.5%Instant purchases: N/A | AUSTRAC-registered |
| Kraken | 200+ | Bank transfer, PayID, Debit card | Maker: 0% – 0.16%Taker: 0.10% – 0.26%Instant purchases: up to 4% | AUSTRAC |
| Coinbase | 150+ | PayID, Bank transfer, Debit card | Maker: 0.4%Taker: 0.6%Instant purchases: up to 4% | AUSTRAC |
| eToro | 20+ | PayPal, Debit card, Bank transfer | Maker: 1%Taker: 1%Instant purchases: N/A | AUSTRAC |
| Binance | 500+ | Crypto (no AUD) | Maker: 0.1%Taker: 0.1%Instant purchases: 4% | Not AUSTRAC |
| OKX | 350+ | Bank transfer, Credit/Debit card, P2P transfers | Maker: 0.005% – 0.1%Taker: 0.005% – 0.1%Instant purchases: N/A | Not AUSTRAC |
| Swyftx | 320+ | PayID, Bank transfer, Credit/Debit card, BPAY | Maker: 0.6%Taker: 0.6%Instant purchases: N/A | AUSTRAC-registered |
Which cryptocurrency exchange in Australia is the cheapest?
If you’re a trader looking to keep costs down, OKX and Binance are the go-to platforms for spot trading. With fees as low as 0.005% OKX stands out for its affordability, while Binance also offers rates at 0.1% making it a strong contender.
Another option for the Australian crypto community is CoinSpot, which charges a fee of 0.1% for orders. However, its instant buy/sell option comes with a higher fee of 1% which may not be ideal for traders in terms of cost efficiency. For more details on how some of these compare, check out our CoinSpot vs Binance breakdown.
Which cryptocurrency exchange in Australia is the safest?
In Australia, cryptocurrency exchanges that prioritize security measures like AUSTRAC registration, two-factor authentication (2FA), cold wallet storage, and insurance for digital assets are considered the safest.
Notable platforms such as Independent Reserve and Swyftx stand out for their ISO 27001 certification, which guarantees adherence to industry security standards.
Kraken, Binance, and Coinbase also hold ISO certification, solidifying their reputation as trustworthy platforms for secure trading.
It’s important to note that centralized exchanges come with risks. Therefore, for enhanced protection, it’s advisable to utilize a hardware wallet.
Different types of crypto trading platforms in Australia
In Australia, individuals looking to invest in cryptocurrencies have platforms at their disposal for buying, selling, and trading digital currencies. Familiarizing yourself with these options can assist you in selecting the platform that aligns with your preferences:
How to choose the right crypto exchange in Australia
Before selecting a cryptocurrency exchange in Australia, it’s advisable to consider aspects such as security protocols, supported tokens, and other relevant factors. Here are some key points to keep in mind:
- Security: Make sure that the platform is registered with AUSTRAC and provides two-factor authentication, cold storage, and robust encryption. Well-known platforms such as Kraken and Coinbase are recognized for their security features.
- Fees: When considering fees, it’s important to examine the costs associated with trading, deposits, and withdrawals. Binance and OKX stand out as options thanks to their low trading fees. Also, CoinSpot may incur higher charges for purchases but offers lower fees for market orders.
- Ease of Use: If you’re a beginner in the world of cryptocurrency, platforms such as Independent Reserve or Coinbase can simplify your initial transactions. On the other hand, experienced traders may opt for Kraken or Binance due to their array of features.
- Payment Methods: Make sure the platform accepts your choice of payment, whether it’s PayID, a bank transfer, or a credit card. Independent Reserve and Coinbase provide a range of choices.
The importance of using an AUSTRAC-registered exchange
In Australia, cryptocurrency exchanges must register as Digital Currency Exchanges if they wish to serve Australian residents. This subjects them to Australia’s regulatory framework and laws, which help protect you against fraud and misconduct.
Despite this, some foreign exchanges still allow Australians to use their platform. Cryptocurrency is already a high-risk investment, and using a platform that isn’t registered with AUSTRAC puts you further at risk.
As such, our list mainly includes platforms that have registered with AUSTRAC as a DCE.
Risks of using a crypto exchange in Australia
Typically, cryptocurrency exchanges provide a user-friendly and safe platform for buying and selling digital currencies. However, it is crucial to recognize the risks associated with using these platforms. Let’s explore some key ones:
- Security breaches: Even with robust measures in place, exchanges continue to be favored targets for cybercriminals. Choosing platforms such as Kraken or Coinbase, known for their storage and insurance coverage, can reduce this vulnerability.
- Custodial risk: When utilizing exchanges, the platform stores your assets, which means you don’t have complete control over your funds. To mitigate this risk, it’s advisable to move your cryptocurrencies to a wallet after making a purchase.
- Regulatory uncertainty: The realm of cryptocurrency regulations is in a state of flux. Platforms that fail to register with AUSTRAC may face penalties or shutdowns. Thus, choosing exchanges that comply with guidelines is crucial.
- Market volatility: The cryptocurrency market is known for its price swings. Traders have the opportunity to boost their profits or losses through strategies like leverage or margin offered by exchanges like Binance and Kraken. While this presents a chance for rewards, it also carries an increased level of risk.
- Limited consumer protection: Crypto exchanges differ from systems in terms of legal safeguards. If problems arise, there might be avenues for seeking justice. Therefore, it’s crucial to opt for trustworthy platforms that have established track records.
Do I need a cryptocurrency wallet if I have an exchange?
Absolutely. It’s advisable to move your cryptocurrency to a wallet after buying it on an exchange.
Although platforms such as Independent Reserve and Kraken provide storage, keeping your assets on the exchange means they hold your keys. This puts your funds at risk from hacking or possible exchange bankruptcy.
Transferring your cryptocurrency to a personal cold storage wallet or software wallet where you have control over the keys guarantees ownership and reduces the likelihood of losing your assets due to threats or platform-related problems.
How we chose the best crypto exchanges in Australia
How We Rate Cryptocurrency Exchanges
We manually review the crypto exchanges on our list. Below are the key metrics we check before listing a crypto exchange on the website. For further details, you can also take a look at our cryptocurrency exchanges rating guide, featured on ValueWalk.
