This comprehensive article answers your question, “what is the best cryptocurrency exchange in Australia?” You’ll also learn more information about the exchanges listed here, their fee structure, and more. Let’s get started!
Table of Contents Hide
- Overall Best Cryptocurrency Exchange in Australia – Coinspot
- Cheapest Cryptocurrency Exchange in Australia – Coinjar
- Most Secure Cryptocurrency Exchange in Australia – Gemini
- Digital Surge
- Independent Reserve
- Easy Crypto
- Comparing Best Bitcoin Exchanges in Australia
- Things to Consider When Choosing a Crypto Exchange in Australia
Overall Best Cryptocurrency Exchange in Australia – Coinspot
Why We Chose Coinspot
Coinspot supports fiat deposits of Australian dollars, making it easily accessible to Australians. Additionally, it offers low fees and great customer support too.
|Many trading options||No margin trades|
|Support fiat deposits|
|Excellent customer support|
|Offers high security|
As one of the industry’s earliest exchanges, CoinSpot has since grown to have over a million users. Its headquarter is in Melbourne, Australia.
Coinspot offers a secure platform for buying and selling crypto instantly. Users can trade on the open market for profit and spend their crypto assets online through NFT purchases.
Coinspot is easy to use and access and offers an interactive trading experience for users through its web portal and mobile application. Additionally, the exchange offers low trading fees, allowing users to maximize profits.
Customer support is also great, and users get timely feedback. The exchange is regulated and offers strong security measures to its users’ funds and information.
Cheapest Cryptocurrency Exchange in Australia – Coinjar
Why We Chose Coinjar
Coinjar offers a unique style of crypto trading for Australians, combining instant crypto purchases with trading. Additionally, users can trade at very low fees.
|Low fees||Limited trading options|
|Excellent user interface||Complex fiat deposit fees|
|Accepts fiat deposit|
|Accepts credit/debit cards and wire transfer|
|Excellent customer support|
Coinjar is a popular Australian cryptocurrency exchange that is also available to users from outside the region. The exchange offers popular cryptocurrencies like Bitcoin, Ether, Litecoin, Zcash, etc.
Asher Tan and Ryan Zhou founded the company in 2013 to offer easy Bitcoin trading to Australian traders. The exchange has its headquarters in Melbourne.
It is easy to access and use Coinjar’s services, as its UI, coupled with its intuitive mobile wallet/app, offers due interactivity to users. The exchange allows for the instant buying and selling of cryptocurrencies.
Customer support is pretty great, and the exchange grants one of the least fee structures in the industry. Coinjar has a license to operate in Australia and beyond and maintains strict security measures to keep investors’ funds safe.
Most Secure Cryptocurrency Exchange in Australia – Gemini
Why We Chose Gemini
Gemini offers strong security protocols for investors’ funds, including many offerings and services.
|High security||Not so great customer support|
|Supports staking||High fees|
|50+ tradable options|
Gemini is a cryptocurrency exchange based in the US. Cameron Winklevoss and Tyler Winklevoss launched the exchange in 2014.
Gemini offers an excellent trading experience for its users, including a multi-coin wallet that traders can use to hold their crypto assets. Other services include Gemini Pay that allows user to spend their cryptocurrencies online.
The ActiveTrader offers professional trading services for Pro traders looking to get on the market. Holding crypto assets, especially the Gemini USD, allows users to earn rewards via staking.
There is a mobile application available to help users take positions and fulfill orders from any location. However, Gemini’s fee structure is complex and majorly cuts through trading and withdrawal fees.
Gemini lags in terms of excellent customer support. Direct contact with the exchange’s agent is usually not feasible. However, users can use the help center to resolve complaints on the platform.
Gemini is a regulated exchange and boasts as one of the earliest exchanges to get a trading license. It claims to offer industry-standard security measures. It has also never experienced a hack, which gives it an edge as a top secure exchange.
Why We Chose Digital Surge
Digital Surge provides a unique trading experience for Australians looking to trade cryptocurrencies in a one-click intuitive environment. It also has lots of trading options.
|Has tight spreads||Limited investment options|
|Many crypto trading options||High trading fees|
|Easy to join and access|
|Intuitive user interface|
|Excellent customer support|
Digital Surge is an Australian-based crypto trading platform launched in 2017 by Josh Lehman and Dan Rutter. The company has its headquarters in Brisbane, Queensland, Australia, where it operates formally as a registered company.
The exchange offers a unique trading experience through instant buying and selling cryptocurrencies in a one-click interactive environment. There is a multi-coin wallet that allows Australians to purchase and spend their crypto assets online easily.
Digital Surge adopts strict KYC compliance, without which users may not access many features or services on the platform. However, it has a great customer support system to guide users through difficulties.
Fees are quite okay, especially within Australia, because it is similar to what most competitors offer. The good thing about Digital Surge is, its fees are final and do not change subtly.
AUSTRAC, an Australian trading and securities agency, offers Digital Surge the license to operate in the country. The exchange also applies strong security measures to safeguard users’ funds and information on its platform.
Why We Chose KuCoin
Advanced Australian traders may have to consider KuCoin for its wide range of offerings and crypto trading options.
|Low fees||UI appears clustered|
|100x leverage||Strict KYC compliance|
|Educational resources are available.|
|100+ crypto assets available for trading|
Michael Gan and Top Lan founded KuCoin in Singapore in 2017 – a cryptocurrency exchange with a daily trading volume of over 2 billion USDT. The exchange is a global brand available in over 100 countries.
Aside from offering spot, margin, and derivatives trading, KuCoin Finance offers several incentives and options to help users leverage the platform and earn more.
Kucoin allows Australians to buy cryptocurrency using the native Australian dollar. Users that want to do so can make payments with their credit cards on the Simplex gateway available in the exchange.
Users can leverage KuCoin’s mobile application to trade, but not as they would do in the desktop or web trading portal. The exchange is easy to join and access and allows all levels of traders from Australia.
Customer support is not as great as we should expect, and alternatives to help users resolve issues on the exchange include the help center, FAQ, and blog section.
KuCoin is not yet regulated in Australia, but it’s regulated in several other regions it operates. It also follows the AML and KYC terms in the country. The platform also follows industry-standard security measures to preserve user funds and information.
Why We Chose Crypto.com
Crypto.com offers crypto wallet and exchange services to Australian users.
|Easy to use and access||High fees|
|100+ tradable assets||Not so good customer support|
|Offers high security|
|Well-defined incentives and loyalty programs|
Crypto.com is a Hong Kong-based cryptocurrency exchange founded in 2017 by Kris Marszalek. The exchange also has offices scattered worldwide in the US, Singapore, China, Japan, Argentina, UK, etc.
Crypto.com offers instant crypto buy/sell services using credit and debit cards and wire transfers.
There is Crypto.com Pay which allows users to spend their crypto assets online or purchase NFTs. The Metal Visa Card allows for fiat deposits and crypto purchases.
The platform is easy to join and access. There is a mobile and web application for users to trade options by easily accessing real-time charts and fulfilling orders.
Customer support doesn’t have the best customer support. However, it has a live chat, a help center, and supports tickets. But direct contact with Crypto.com’s agent may not work considering the exchange’s large customer base.
Crypto.com has high trading fees. However, bonuses of up to 40% apply to loyal traders who may leverage it to earn more on the exchange.
In November 2020, Crypto.com secured an Australian Financial Service License (AFSL), allowing it to offer more services to Australians. As such, Australians can carry out transactions on the exchange using Australian dollars.
Why We Chose Swyftx
Swyftx offers a robust crypto trading option, including fiat deposits for Australians using the AUD.
|100+ tradable crypto assets||High trading fees|
|Automated trading tools|
|Excellent customer support|
|Accepts fiat deposits|
Swyftx is an Australian-based crypto exchange that began operation in 2018. Alex Harper and Angus Goldman launched the company to offer an intuitive trading experience to Australian traders.
Swyftx has many services, including payment options and investment management tools. The platform offers cryptocurrency trading, instant buy/sell market orders, portfolio tracking tools, tax report tools, etc.
Trading experience on Swyftx is generally excellent. Users can instantly trade or swap cryptocurrencies on the platform and fulfill orders. However, fees may be just one limitation to the exchange.
Swyftx’s customer support is excellent and resourceful for beginner and advanced traders using the platform. The exchange also has an operating license from AUSTRAC and offers high security for investors’ funds.
Why We Chose Independent Reserve
Independent Reserve brings crypto trading to the doorsteps of Australians by allowing fiat deposits using Australian dollars.
|Offers high security||Complex fee structure|
|70+ tradable markets available||No mobile app|
|Regulated exchange||Strict KYC compliance|
|Accepts fiat deposit|
|Multi-coin wallet available|
Independent Reserve is an Australian-based cryptocurrency exchange founded in 2013 by Adam Tepper and Adrian Przelozny. The aim behind the exchange’s launch was to serve the Australian crypto market.
Independent Reserve offers instant buying and selling of major cryptocurrencies like BTC, ETH, LTC, and many more. Users can access its multi-coin wallet, trade on OTC, and access invaluable tools like tax estimator and the AutoTrader.
The exchange is easy to join and access. However, you must complete KYC to access more features and services. Users will find everything they need to get started on the web portal.
Fees on the exchange are quite high, but customer support service is responsive. The exchange is also regulated in Australia and maintains stringent security protocols in preserving its services to its users.
Why We Chose OKEx
OKEx offers many cryptocurrency trading options and features, including advanced charts and market orders.
|400+ tradable options available||Not regulated|
|Supports staking||Complex fiat deposit fees|
|Mobile app available|
|Educational Resources available|
|Supports fiat deposit|
OKEx is a cryptocurrency exchange based in Hong Kong, operating under OKEx Malta LTD’s official label. The exchange started operations with its founder, Star Xu, in 2017.
OKEx offers excellent crypto trading services with over 100 cryptocurrencies available for trading. Users can purchase cryptocurrencies using their credit or debit cards and access advanced charts to make informed trading decisions.
The exchange also has a sundry of incentives, including staking, mining pools, and so on, to help traders maximize profits on the platform by investing funds that appreciate over time.
OKEx is not regulated in Australia but claims to check its security procedures regularly in a bid to meet current industry targets.
Why We Chose Coinmama
Coinmama makes buying and selling cryptocurrencies easy for Australians by offering custodial and non-custodial methods of exchanging assets.
|Instant crypto buying and selling||High fees|
|Accept credit/debit cards and wire transfers.|
|Good customer support|
|Educational tools are available.|
Coinmama is a cryptocurrency exchange based in Dublin, Ireland. The exchange began operations in 2013 by Ilan Schuster, Laurence Newman, and Nimrod Gruber.
Coinmama accepts fiat deposits and offers instant buying/selling of cryptocurrencies using credit/debit cards and wire transfers. However, a major setback would be its high fees.
The platform is easy to access and use and has a mobile application with top crypto assets like BTC, LTC, ETH, etc., listed in its wallet.
Coinmama is a regulated exchange and offers maximum security for investors’ funds by storing over 90% of assets in cold wallets offline.
Why We Chose Easy Crypto
Easy Crypto makes buying and selling cryptocurrencies easy for Australians and beyond. Its user interface is excellent too and suitable for newbies.
|Suitable for beginners||High fees|
|Excellent user interface||Not many trading options|
|Good customer support|
|Accepts fiat deposits|
Easy Crypto is a cryptocurrency exchange based in New Zealand. The company, which serves the Australian continent, began operations in 2017 by Janine and Alan Grainger.
The exchange offers instant crypto trading and accepts fiat currencies. Australian users can also leverage its mobile app to trade from any location comfortably.
Easy Crypto has an intuitive UI that offers interactivity to users. The exchange is easy to access but maintains stringent KYC policies. The major setback would be Easy Crypto’s incredibly high fee structure.
The fees also vary according to the countries of users. When you feel you’ve got complaints to make, you can rely on Easy Crypto’s customer support to you a listening ear.
The exchange is regulated and maintains strong security measures to protect users’ information and funds.
Comparing Best Bitcoin Exchanges in Australia
|Crypto Exchange||Supported Cryptocurrencies||Fees||Best For (Traders)||Available Transactions|
|Coinspot||100+||0.1%||Beginners||OTC, Spot, Instant Buy/Sell|
|Coinjar||30+||0.04%||Beginners, Advanced||Instant Buy/Sell, Spot|
|Gemini||50+||0.25%||Beginners, Advanced||Spot, Margin|
|Digital Surge||100+||0.5%||Beginners, Advanced||Instant Trading, Fiat/Crypto Trading|
|KuCoin||100+||0.1%||Beginners, Advanced||Spot, Margin, Futures|
|Crypto.com||100+||0.4%||Beginners, Advanced||Spot, Futures|
|Swyftx||100+||0.6%||Beginners, Advanced||Spot, Instant Buy/Sell|
|Independent Reserve||30+||0.5%||Beginners, Advanced||Spot, OTC, Instant Buy/Sell|
|OKEx||100+||0.1%||Beginners, Advanced||Spot, OTC, Margin, Futures|
|Coinmama||50+||3.80%||Beginners, Advanced||Instant Buy/Sell|
|Easy Crypto||50+||3.75%||Beginners, Advanced||Instant Buy/Sell, Spot|
Things to Consider When Choosing a Crypto Exchange in Australia
Ease of Use
Easy-to-use exchanges have excellent and well-suited user interfaces for beginners. Such exchanges give users great experiences, allowing them to trade cryptocurrencies easily.
Customer support is a great tool and resource for every user online. Exchanges without great customer support systems tend to lose users. If lucky, users may remain on the platform due to their reputation.
Unfortunately, some popular exchanges do not have good customer support because of their large traffic. However, FAQs, Help centers, live chat systems, etc., should serve as good alternatives to direct contact support.
Type of Trading
Having a basic understanding of the type of trading an exchange offers goes a long way in enhancing your user experience on the platform.
Most exchanges offer the following trades—spot, margin, futures, OTC, inverse futures, etc. Beginners should be specific in the type of trades they wish to do.
Fees include trading fees (makers and takers), network fees (during Intra and inter transfers), convenience fees, in-house fees (charged when you use a service or product of an exchange), etc.
Despite claiming to offer low fees, some exchanges may subtly add in-house fees that could affect your balance when withdrawing. Taking note of the fee/commission structure on an exchange can save you money.
The most common payment methods on exchanges include credit/debit cards, wire transfers, bank transfers, etc. Understanding payment methods on the exchanges help you know which method suits you best.
Exchanges with a history of hacks have gone through a lot to recover, and in most cases, get swallowed in the situation. Newer exchanges in the industry adopt different security standards to protect users’ funds and information.
As a standard security measure, exchanges must learn to store at least 70% of funds offline in cold wallets and audit their platforms regularly to ensure there are no loopholes.
Assets traded on exchanges include fiat and cryptocurrencies. While some exchanges allow you to trade one against another, others only accept crypto-to-crypto trades.
A good way to understand if an exchange accepts fiat is by browsing through its markets or reviews. A fiat-to-crypto exchange is an all-in-one exchange that accepts both cryptocurrencies and fiat currencies.
Crypto exchanges commonly face regulatory problems, but that doesn’t imply various regions may not use them. An exchange’s trading license gotten from a country may apply to another country. What is most important is the body issuing the license.
Agencies like FinCen, AUSTRAC, etc., have a known reputation for overseeing crypto exchanges that operate in different regions. Ensure to learn about the regulatory agency for an exchange before accepting their terms and policies.
Experience and years of activity in the industry add to the crypto exchange’s reputation. How the exchange has handled and scaled through tough situations adds trust and reliability to its portfolio.
Account Verification Process
Exchanges that make it easy for users to join and access their platforms—yet maintaining KYC terms—keep beginners traders. However, the more stringent an exchange’s sign-up and verification process, the more difficult it becomes for users to join.
Loyalty Programs and Discounts
More incentives on an exchange tend to attract more users. However, users should be careful as some incentives pose as subtle means these exchanges get liquidity through in-house fees and interests from loans.
The most important and common licenses Australian crypto exchanges need are the Australian Transaction Reports and Analysis Center (AUSTRAC) license for exchange regulation and the Australian Securities and Investment Commission (ASIC) license for coin listings and offerings.
Yes. AUSTRAC mandates Australian exchanges to verify users by requesting some personal information.
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF 2006), section 5 and associated rules, implemented by AUSTRAC, mandates Australian crypto exchanges to comply with the region’s AML/KYC compliance policies, thereby requesting KYC.
The best cryptocurrency withdrawal methods depend on users’ available and most convenient options. However, Australian traders have better options like bank transfers or PayID, Blueshyft, or using Debit/Credit cards.