Cryptocurrency exchanges are popping up everywhere in Australia, but how do you know which one to use? You may have heard of Aussie crypto investors losing money to ACX crypto exchange, or another Aussie exchange MyCryptoWallet collapsing. You need to make sure you choose a reputable, safe and legitimate platform so your money is safe. In our review, we only list secure and trusted exchanges that we have tested out, so you can trade with peace of mind.
We also understand that individual investors have different needs, especially depending on how much experience you have with cryptocurrency. We have ranked our top exchanges in Australia by different categories, so you can find one that is suitable for you. All of these exchanges are free to sign up, so you can always open an account and see if you like it, or even register with a few to decide which is best for you.
#1. Bybit– Best Exchange in Australia
Bybit is the best cryptocurrency exchange in Australia, filled with tons of advanced features for experienced traders, yet still user-friendly so that newcomers to crypto can learn and develop their skills. With more than 280+ coins available, and various trading markets such as spot trading, derivatives, and margin trading (up to 100x leverage), you will find something suitable for you no matter your skill level.
Frequent traders will love the rapid trade speed (100,000 traders/second), low fees, and 99.99% system functionality, while first-timers to crypto will enjoy the simple instant buy option, where you can use Visa/Mastercard or Apple Pay to purchase crypto.
Bybit's security is among the best in Australia, with all of the multi-factor safety measures that are expected from global exchanges, eg: 2FA, encryption, HD cold wallet for offline storage, and reviews of every withdrawal to ensure they are authorised and legitimate. They even offer rewards to hackers who can find and report any bugs or vulnerabilities that exist.
Bybit also offers a Testnet, or demo mode, which enables beginners to learn how to trade, as there is no risk of losing your real funds, but the simulation is based on real-time prices and market movements. Even advanced users will find this feature useful, as they can test out novel strategies that they are unsure of, before implementing them on their real trades.
There are so many more features on Bybit, if you wish to sign up and have a look around, be sure to use our unique link, which offers new users FREE $10 BTC without the need to make a deposit!
- #1 cryptocurrency exchange in Australia
- More than 280+ coins available
- Earn interest on your crypto
- FREE $10 BTC when you sign up here
- Copy Trading so you can automatically copy trades from the most successful investors
- Spot trading, margin trading, derivatives trading
- Buy crypto directly using Visa/Mastercard or Apple Pay
- 24/7 Live Chat
- Free trading bot included
#2. CoinSpot Exchange – Most Secure
CoinSpot entered the Australian cryptocurrency market in 2013, and they have continually grown their user base to over 2.5 million users. They are the only exchange in Australia to hold the ISO 27001 certification, which makes them the most audited and secure exchange for Aussies.
You can instantly buy or sell one of over 370 cryptocurrencies, which can all be purchased directly with AUD with 1% transaction fee. You can also access a small range of coins on their market, which will only incur a 0.1% trading fee.
CoinSpot offers staking on 21 coins, which means you can grow the amount of crypto you own, similar to earning interest on your AUD in a bank account. The longer you hold your staked coins in CoinSpot, the more coins you will own. This is a great feature that isn't found on most of the Australian crypto exchanges.
CoinSpot also has an NFT marketplace which is a very easy and convenient way to purchase them. There is no need to set up external wallets, like MetaMask, and link them to OpenSea. You also don't need to purchase the NFT using ETH, or any other specific cryptocurrency. With CoinSpot, you can purchase any NFT you like, with any coin of your choice.
CoinSpot is a great option for beginners to consider because it has a user-friendly interface and live chat customer support in case you run into any issues. CoinSpot's large customer base along with high level of security, including storing majority of crypto assets in offline cold storage are good reasons to place your trust in this exchange.
- The most trusted and secure cryptocurrency exchange in Australia
- The platform is easy to use, with simple registration
- Offers more than 370 cryptocurrencies to buy and sell
- Earn interest on 21 coins
- Several deposit methods are supported, including PayID, bank transfer, cash deposit, or BPAY
#3. Swyftx Exchange – Best for Demo Mode
Swyftx is a popular and trusted Australian cryptocurrency trading platform that is great for beginners with its demo mode, live chat customer support, and intuitive interface. There are over 320 different cryptocurrencies on offer and has inexpensive trading fees of just 0.6% per trade. These are all reasons why Swyftx has risen to the top of Australia's cryptocurrency exchanges.
When registering as a user, you will find that the process is very straightforward and quick, along with the process of verifying your account. If you are new to the cryptocurrency market, then you will enjoy the unique demo mode that is offered as an ideal way to get started with learning how to buy, sell, and trade cryptocurrency. Not many cryptocurrency exchanges have this feature, but it is such a valuable tool for those that are new to it all.
Depositing your money to the exchange is a free and instant process using bank transfer. You can also use a range of other free deposit methods including credit and debit cards, which are often not accepted at other exchanges. There is a flat rate trading fee of 0.6% for all transactions, and they have some of the lowest spreads in the Australian cryptocurrency market because they are able to access much larger international trading volume pools. Withdrawing fiat currency is easy and again free, making Swyftx one of the lowest fee exchanges in Australia.
Swyftx really is a top choice for anyone looking to get started with cryptocurrency, but you can make up your own mind after you create your own free account.
- AUSTRAC-registered and regulated, Brisbane-based exchange
- Australian-based Live Chat customer support is available at any time
- Over 320 cryptocurrencies available to purchase with AUD
- Low spread and low fees of just 0.6% with no hidden costs
- A variety of deposit options available for buying crypto
Stay up to date with vital crypto news
Get the latest news straight to your inbox
#4. Crypto.com – Best for Beginners
Crypto.com is the best crypto app available for newcomers to crypto. It is extremely easy to use, with an intuitive interface, and instant buying and selling. With more than 250+ crypto assets available on the app, and staking on 47 different coins, users will definitely find something they want to invest in.
You don't have to worry about confusing market trades, or limit orders, as Crypto.com has a simple buy/sell feature, and there is no additional commission on the price you see. The fees are all included in the spread, so whatever price is shown on your phone is the price you will pay.
Crypto.com also has an excellent Visa debit card that gives its users plenty of benefits, depending on the amount of CRO token staked. For example, you can receive up to 5% cashback in CRO when you make purchases using AUD on your debit card. You also can receive rebates on Spotify, Airbnb and Netflix, and even access free airport lounge access.
- Easily buy and sell over 250 cryptocurrencies
- Earn interest on more than 40+ coins
- Visa debit card earns up to 5% cashback on each purchase
- Simple to use mobile app
#5. MEXC Global – Best for Advanced Crypto Trading
MEXC Global is a huge crypto trading platform, recognised around the world for deep liquidity and the largest range of cryptocurrencies (1,520+) and trading pairs (2,110+). It is not recommended for beginners to crypto, but is ideal for advanced traders who enjoy spot trading, margin trading with up to 125x leverage, futures trading, and low trading fees.
It is only a small 0.0/0.2% fee for spot trading, and for futures trading it is much lower, at only 0.0% for makers and 0.06% for takers. Moreover, if you sign up using our unique link, you receive 10% off all your trading fees, on top of $25 USDT FREE!
MEXC Global also offers free trading bots included on their platform, so you can automate your strategy. Set the parameters exactly how you like, and the bot will complete trades for you even when you are sleeping. If you want to automate your trading but you aren't confident with your own abilities, you can utilise the Copy Trading feature. This lets you choose a profitable crypto investor that you want to follow; every trade he/she makes will be automatically executed for you as well. This way you can take advantage of the experience and market research of other investors, without having to spend time and effort yourself.
MEXC's liquidity is also very impressive, much higher than the largest crypto exchanges like Bybit, Binance, KuCoin, Huobi, and Bitget. If you are interested in trading large amounts at once, you can do so quickly without worrying about slippage on MEXC.
#6. eToro Australia Exchange – Top Pick for Copy Trading
eToro is designed to be a social trading platform that allows you to interact with other users by commenting or posting on the News Feed. Another great feature of this platform is that it allows you to make automatic copies of the exact trades that the most successful crypto investors on the platform make.
Despite the fact that eToro is not an exchange dedicated to cryptocurrency, it offers a range of great features that allow it to keep up with the other exchange options. It also offers a demo account that is a great way for beginners to learn more without risking losing their money. With $100k in virtual money available on the demo account, you can start out with practising trading. The platform also offers crypto staking, and you can purchase crypto CFDs, which allows you to make money on the cryptocurrency price movements without buying any actual cryptocurrency.
eToro is limited in its range of coins, with only 75 of the most popular cryptocurrencies currently available on the platform. If you are looking to trade lesser-known altcoins, you may need to choose one of the other exchanges with more coins on offer. eToro charges 1% for all crypto trades on their platform. There is a mobile app available for both Android and iOS, making it easy for you to trade wherever you like.
One downside of this platform is that it uses USD as the base currency, meaning that you will need to pay a fee for converting your AUD whenever you deposit or withdraw money.
- Buy directly or use a CFD to invest in thirty popular cryptocurrencies
- Bet on the price of crypto to rise or fall using CFDs
- X2 leverage margin trade cryptocurrencies
- Earn interest on your cryptos while holding them with crypto staking available
- Get started with a demo account featuring $100k virtual money for risk-free trading practice
#7. Binance Exchange – Best for Serious Traders
While it is not Australian, Binance Exchange is a popular option, as they offer a fully-featured platform for trading over 600+ coins. They have extremely competitive fees of just 0.1% per trade and have a ton of services on offer such as margin trading, futures, p2p, and more. You can even use their exchange to stake over 70 different coins, so you can earn passive income on your crypto.
There is no charge for depositing AUD, even though this is not an Australian exchange. You can simply deposit with Osko or PayID and start trading immediately. If you are serious about trading crypto, Binance is highly recommended. They have very competitive fees and are compatible with a range of third-party trading bots if you want to automate your trading and maximise your profits.
On the downside however, some users find that since Binance is not an Australian company, they occasionally run into issues with depositing from Australian banks or verifying an Australian-issued ID.
- Flat fee of 0.1% only when trading
- Use Binance Coin (BNB) to reduce your trading fees even further
- Binance Lite is a simpler version of the platform that is more beginner-friendly
- With access to more than 600 coins and low fees, it is an ideal option for serious traders
#8. Independent Reserve Exchange – Crypto Insurance Option
Independent Reserve is an Australian exchange with a trusted record, even beating Swyftx in a range of areas. First of all, the trading fees charged by this exchange are just 0.5%, and if you are a large investor, you can reduce your trading fees based on the volume of the trades. Fees are reduced when you trade $100k or upwards per month. If you’re a very high investor trading $20m or more per month, the fees drop to a very low 0.02%.
Along with this, Independent Reserve is also the only crypto exchange in Australia to offer insurance for cryptocurrency assets that cover up to $5m. They also offer KPMG-powered tax reports, which makes tax reporting easier for traders.
This exchange offers a great OTC desk, which is ideal for family offices, SMSFs, and large investors or businesses that want to execute trades of more than $100k. The exchange is highly recommended for anybody who is depositing and trading in large volumes.
On the downside, the exchange only supports 27 different cryptocurrencies. However, most of these are the most traded and trusted coins around the world.
- Security is a top priority and insurance is offered for premium accounts
- Offers 27 cryptocurrencies that you can begin trading at just 0.5% fees, which can be reduced as your trading volume increases
- Range of features including instant deposits, tax reports, and automatic dollar-cost averaging
#9. Kraken Exchange – Best for Security
Kraken is a US based exchange that has a high focus on security, and is compliant with strict regulations to operate in the States. Aussie investors can also use Kraken, but can only access 19 coins against the Australian Dollar, which is quite limiting. However, if you only want access to the major coins, this is a great choice, because they also have great additional features such as staking, margin trading, and live chat support.
Kraken is considered to be one of the most secure cryptocurrency exchanges worldwide and they offer a great interface for advanced crypto trading. Their trading fees on the market are competitive: maker/trader fees of 0.16% and 0.26%. However, if you want to buy or sell instantly, the fee is a much higher 1.5% which is above the industry average in Australia.
- A well-designed platform with access to margin trading, staking, and futures
- Offers a mobile app for easy trading on the go
- Live Chat with real customer service agents is available 24/7
- The exchange is one of the best options for security as it is compliant with US regulation and places a high focus on security
#10. Easy Crypto Exchange – Best for Quick Purchases
Easy Crypto Australia is an ideal exchange to consider if you want to be able to purchase crypto immediately. Unlike its competitors, this exchange does not hold either your fiat or cryptocurrency assets on the exchange. Whenever you want to buy a coin, you will do this using a purchase screen where you pay directly from your bank, similar to online shopping. Because of this, the need to make a deposit before buying is eliminated. You will need to have your own personal crypto wallet before you can use this platform.
Since your crypto is sent straight to your wallet, it is never held on the exchange, and your funds are never at risk, even if the exchange is hacked. Easy Crypto also provides a 100% funds guarantee on all orders, giving you more peace of mind when investing and trading.
- Nothing is stored online on the exchange, giving you more control over your assets
- Option to instantly buy crypto with AUD without needing to make a deposit first
- Every order has a 100% funds safety guarantee
- Fees are transparent and there are no hidden costs
#11. Elbaite Exchange – Best for Peer-to-Peer Trading
If you want to buy and sell cryptocurrency peer-to-peer (P2P), Elbaite is the best exchange to consider. There are no fees for sellers and a fairly low fee of 1% for buyers. It is a non-custodial marketplace where you will buy and sell crypto from other traders directly from one crypto wallet to another. Because of this, the coins are always off the exchange and in your personal wallet, reducing the risk of losing them in the event of a cyberattack on the exchange. It is a safer way to transact in cryptocurrency for this reason.
An escrow account is used to hold the payment until the Blockchain verifies that your purchased coins have arrived in your wallet, to reduce the risk of theft. Because of this, buyers can be sure that they will always receive their crypto and sellers will always receive their payment, without any risk.
Elbaite is a great trading platform for large volume traders that prioritise safety and security and want to stay in as much control as possible when it comes to their assets.
- Zero fees for sellers along with no hidden costs or commission
- No funds are stored on the P2P exchange which provides you with more control over your own assets
- The escrow account makes sure that all transactions are fulfilled
- Your personal information is not shared with other users
#12. Cointree Exchange – Best for Ease of Use
Cointree is one of the easiest cryptocurrency exchanges to use, perfect for complete beginners to the crypto market. The interface is very basic, easy to understand, and easy to use. Along with supporting Bitcoin, the exchange also has over 280 different altcoins, and there is a coin-to-coin trading feature that is not available on every exchange. You can even pay any of your BPAY bills using Bitcoin stored in your Cointree account. This is a no frills exchange that only offers minimal functionality, but ensures that beginners will not get confused on the platform.
- Very simple and easy to use interface that makes it ideal for beginners
- Supports more than 280 cryptocurrencies
- Allows you to use the cryptocurrency in your Cointree account to pay BPAY bills easily
- Finalist for best digital currency exchange at the Australian Blockchain Industry Awards
#13. Coinjar – Another Australian Alternative to Consider
Coinjar is an exchange that allows for every payment method possible, whether you want to pay with a debit card, credit card, bank transfer, or even cash. If you want to start trading crypto as quickly as possible, you can take advantage of the instant deposit option.
This exchange is an average option that allows you to deposit in either AUD or GBP, however, you can only buy or sell 50 cryptocurrencies. It offers competitive fees from 0.1%-0.25% and has an in-house Australian support team.
- Based in Australia so no need to worry about international transaction fees
- Coinjar Swipe debit card allows you to easily convert cryptos to cash when paying or using ATMs that accepts EFTPOS
- Wide range of deposit payment methods available including bank transfer, BPAY, PayID, and cash