Best Crypto Exchanges in Australia 2022

Cryptocurrency is becoming more and more popular these days in Australia. It seems like anyone can easily find an exchange, deposit and just start trading crypto. Given all the options out there, finding the best Australian crypto exchange in that suits your need is very important. 

The exchange you choose will impact what types of digital assets you can trade, how much profits you make from your trades, and how smooth the trades are. In some cases, choosing the wrong exchange might mean you might not get your money back at all. 

How to find the best Australian Crypto Exchange? 

There are a number of factors to consider and here are some of them: 

Coins available: The top crypto exchanges in Australia should offer a large selection of coins from many different markets. This allows traders to have the opportunity to get in on some massive altcoin gains. 

Trading fees: The transaction of all digital assets will incur some fees. Exchanges with high fees will eat into a chunk of the profit, especially for the frequent traders. That’s why it’s important to find exchanges that offer affordable rates. 

Government regulation: When choosing the crypto exchange, always check how it is regulated by the local authorities. Using a well-regulated exchange is much safer than an unregulated ones. 

Platform interface: Interfaces on crypto exchanges should be simple to understand and easy to navigate for beginners. It should also offer experienced crypto traders the option of having more advanced features.  

Deposit & withdrawal: Depending on the type of withdrawal and payment method that’s available to you. You should always find an Australian exchange that matches your needs.  

Insurance policies: We have all heard the horror stories of crypto exchanges getting hacked and users losing everything thing they had. That’s why it’s best to always make sure the exchange you are using has your digital assets covered in case of an attack.  

Customer service: Navigating around the user interface of an exchange can be frustrating. Many options to choose from in dealing with complicated withdrawals or deposit processes. Finding the exchange with excellent customer service will make the entire experience go a lot smoother. 

Capital – Best overall

Besides being a crypto exchange, also offers many other assets for investors to trade with. Users can trade cryptocurrency alongside stocks, commodities, forex, index funds, ETFs and much more. 

Capital offers a very tight spread on its digital assets (0.1% – 0.3%) and users can trade them with absolutely no trading fee.  

The platform interface is available on desktop with full trading features as well as on a powerful mobile app. It also allows users to trade on a demo account where they can practice trading with real-time crypto market data. 

Capital is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, both of which are trustworthy authorities.  

Each qualified client will be assigned a dedicated account manager, they can be reached by email or phone at any time. This provides a customer service experience that’s second to none. 

Cost 

• Trading fee: 0% 
• Spreads: 0.1% – 0.3% 

Pros of Capital 

• No Trading Fees 
• One-Stop-Shop for Trading Most of the Assets. 
• Dedicated Account Manager Available 
• Superb Desktop & Mobile Interface 
• Demo trading available 

Cons of Capital 

• No Referral Program 

eToro – Best for New Traders

eToro is a world-recognized brand with an easy-to-use desktop trading interface and mobile app, and it offers some of the lowest fees and spreads compared to other crypto exchanges. Besides cryptocurrency, this exchange also supports stocks, forex, commodities and other assets to trade.  

CopyTrade is eToro’s brand-new model of investing that’s built on proprietary technology. It allows any particular eToro user to copy other investors’ trades in real-time. This significantly reduces the risks for new traders coming into the market as their trading decisions are based on the knowledge of experienced traders with proven track records.  

eToro offers the users the option of trading with a demo account with a balance of up to $100,000. This allows new traders to get aquatinted with trading cryptocurrency without the risks and experienced users to test out new strategies.  

Cost 

• Trading fees: 1% 
• Spreads: 0.1% – 0.3% 

Pros of eToro 

• Supports 50+ cryptocurrencies 
• Tight spreads (around 0.1% – 0.3%)  
• Allows short selling 
• Up to 30x leverage (2x leverage on crypto) 
• Free deposits and withdrawals from debit/credit cards, bank transfer, etc. 
• Excellent desktop crypto trading platform and mobile app 

Cons of eToro 

• High non-trading fees 
• Only one account base currency 
• Customer support should be improved 

Digital Surge – Best Variety of Coins 

Founded in Brisbane Australia, Digital Surge is a top-tiered exchange with over 250 cryptocurrencies to trade. It provides users with a fast and easy signup process as they get their accounts verified accounts within hours. 

This exchange offers reliable security measures by keeping most of their assets in cold storage and prompts users to provide Two-Factor Authentication (2FA). 

Digital Surge has a user-friendly desktop trading interface with a mobile app for both iOS and Android. Their customer support agents are available 24/7 through live chat in the app or on the website. 

Digital Surge is a great option for investing in digital assets in Australia. It offers margin accounts for leverage trading. But compared to eToro and Capital, it’s still missing a few key features. 

Cost 

• Trading fees: 0.5% to 0.1%  
• Order fees: 0.5% 
• Deposit fees: From $0 to $3.30 
• Bank withdrawals: Free 
• Crypto withdrawals: Gas fees vary 

Pros 

• Easy-to-use trading platform 
• Low trading fees 
• 250+ cryptocurrencies to choose from 
• 24/7 customer support via live chat 
• Quick account verification 

Cons 

• Cannot deposit by credit card. 
• Lacks some advanced trading features for experienced traders. 

CoinSpot 

CoinSpot was first launched in 2013 and today it has over 2.5 million users, making it the largest crypto exchange in Australia. It is also the recipient of the Blockchain Australia Certificate for best practices. 

This exchange offers more than 360 cryptocurrencies to trade and staking on 22 coins. It has one of the most diverse coin offerings among all cryptocurrency exchanges in Australia.  

CoinSpot has a very user-friendly interface that makes it easy for new traders to use. It comes in both the desktop version as well as mobile apps. It also provides excellent customer support as users have access to an agent through Live Chat that’s available 24/7.  

CoinSpot is registered with ASIC and AUSTRAC, so it’s accountable to maintain the best practicesin crypto industry . The majority of the exchange’s crypto assets are also securely kept in a cold storage environment. This gives its users peace of mind because they don’t have to worry about losing their coins to hackers. 

However, there are still a few areas CoinSpot can improve on. Traders on the platform do not have the option to trade on leverage positions with a margin trading account. It also does not offer demo Accounts, so traders have to look elsewhere. 

Cost 

• Market Orders: 0.1% 
• Instant Buy/Sell: 1% 
• Deposit Fees: Free  
• Withdrawal: Free 
• Deposit Fees: Free 
• Withdrawal Fees: Depends on the crypto 

Pros 

• Most secure Australian cryptocurrency exchange
• Simple interface for new users 
• Over 360+ cryptocurrencies are available 
• Staking on 22 coins to earn interest 
• 24/7 support via Help Desk & Live Chat 
• NFT Marketplace 

Cons 

• Lack of advanced trading markets like derivatives and margin.
• Credit/debit card deposits are not supported.

Binance Australia

Founded in 2017, Binance has based in the Cayman Islands and it’s the world’s largest cryptocurrency exchange by trading volume. This exchange supports the withdrawal and deposits of over 50 fiat currencies. Users have access to over 300 cryptocurrencies to trade with. Traders can buy and sell digital assets like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL) and Binance Coin (BNB),   

BNB is the indigenous token of Binance, it doubles as a utility token and provides discounts on transactions for its holders. Depending on how many BNBs are in holding, trading fees will range from between 0.1% to 0.04%.  

Besides the Binance crypto exchange, additional features include a Crypto Visa Card and Binance Earn, a digital asset staking platform.   

Its trading interface features advanced charting tools and its mobile app is available on both iOS and Android. They also reward their users with monthly promotions on certain trading pairs once they reach a certain milestone. 

Cost 

• Crypto deposit fees: Free 
• Fiat deposit fees: 0% to 3.5% 
• Crypto withdrawal fees: 0% to 2,5% 
• Taker fees: From 0.04 to 0.1% 
• Maker fees: From 0.02 to 0.1% 
• Futures trading maker fees: 0.02% 
• Futures trading taker fees: 0.04% 
• Instant buy/sell trade fees: 0.5% 
• Debit/credit card purchases: 4.5% 

Pros 

• An enormous selection of cryptocurrencies (300+) 
• Supports over 50 fiat currencies 
• Binance Earn and Binance Visa Card 
• Advanced charting tools 
• Low fees 

Cons 

• Not available in seven U.S. states and Ontario Canada 
• The Australian version has fewer crypto-to-crypto currency pairs than the global Binance site. 

Zipmex 

Aso based in Singapore, Zipmex is extremely amongst the crypto traders in South-East Asia. It is fully licensed in both Australia and Thailand.   

In addition to buying and selling cryptocurrency, it also offers many other interesting features. 

Zipmex gives its user the option to stake their cryptocurrency through two different platforms: ZipUp! and ZipLock. Both platforms yield good rewards in the form of crypto.  

ZipUp! offers decent APY rates and no lock-in period. However, if you are comfortable locking your crypto for up to 45 days, you should consider ZipLock’s as it provides a higher APY. 

Another feature on Zipmex is an ICO Launchpad, it’s called ZipLaunch. It allows eager investors to get early into promising DeFi projects or ICOs. 

One of the biggest drawbacks for ZipMex is its limited selection of digital assets, it has 41 coins to choose from. In addition, traders are almost forced to hold ZMT tokens in order to advantage of lower trading fees. 

Costs 

• Maker’s Fees: From 0.10% to 0.20% 
• Taker’s Fees: From 0.10% to 0.20% 
• Deposit Fees: Free 
• Withdrawal Fees: Varies by coin 
• Deposit Fees: Free  
• Withdrawal Fees: $5 

Pros 

• Some of the lowest trading fees in Australia (0.1%-0.2%) 
• The insurance policy covers up to $100 million USD  
• Instant Trading 

Cons 

• Investors are compelled to acquire ZMT to get the best benefits 
• Customer support is not available on the phone 
• No high-volume trading discounts 
• Limited crypto offerings 

Independent Reserve

Independent Reserve is one of the biggest crypto exchanges in Australia with over 200,000 users as of 2022. It is also registered with the Australian Digital Commerce Association (ADCA). 

Through its partnership with Lloyd’s of London, Independent Reserve is able that provides full insurance coverage for 100% of its digital assets. For extra security, the exchange keeps 97% of its coins secured in a cold storage environment and uses a Two Factor Authentication for verification.  

In addition to buying and selling cryptocurrencies, users can have access to a complete library full of investing strategies. These strategies can even be applied to an AutoTrader feature. For institutional traders, this exchange offers a VIP Over-the-Counter (OTC) trading service. 

Independent Reserve’s trading platform can be accessed on desktop as well as on a mobile app for both iOS and Android.  Fiat currency can be deposited with ease through the Osko and the BPay network.  

Cost 

• Exchange Trading Fees: 0.6% 
• Spreads: 0.41% 
• Deposit Fees: Free 
• Withdrawal Fees: Free  
• Deposit Fees: varies by network mining fees 
• Withdrawal Fees (Crypto): Varies by network mining fees 

Pros 

• Accept 4 fiat currencies as deposits (AUD, USD, NZD, SGD) 
• Have an AutoTrader feature 
• 97% of crypto coins are held in cold storage 
• 100% of digital assets are insured through Lloyd’s of London 
• Instant account verification for most traders 
• Mobile app available on iOS and Android 
• OTC trading services for VIP clients.  

Cons 

• Only offers 29 cryptocurrencies 
• Higher transaction fees 

Swyftx 

Swyftx was founded in 2018 by Angus Goldman and Alex Harper. Registered and regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC), Swyftx is both a crypto exchange and also a staking platform for certain cryptocurrencies. 

Swyftx supports 16 cryptocurrencies, including Cardano (ADA), Solana (SOL), Cosmos (ATOM), and Polkadot (DOT). Interest rates users can earn depends on the crypto they’re staking, with annual rates ranging anywhere from 5.12% (on Bitcoin) to 101.24% on (Axie Infinity). One thing users appreciate about Swyftx’s staking platform is that there’s no lock-up period, which means you can stake and withdraw your assets at any time with no penalty. 

Staking rewards are paid out daily directly into the Swyftx Crypto Wallet in the same currency that you’ve staked. The minimum staking amount is $1 AUD, with no maximum. 

All in all, Swyftx is a strong staking platform, but it lacks some important features as a crypto exchange, which is why we don’t recommend it so strongly. 

Cost 

• Trading Fees: 0.6% (discounts apply to higher trading volume) 
• Spreads: 0.41% 
• Staking Fees: Free 
• Deposit Fees (Fiat): Free 
• Withdrawal Fees (Fiat): Free  
• Deposit Fees (Crypto): Free  
• Withdrawal Fees (Crypto): Free 

Pros 

• Up to 23% annual interest on select cryptos 
• Available on mobile and desktop 
• Supports 16 cryptocurrencies 
• Two-Factor Authentication 
• TradingView charts 
• Real-time data 

Cons 

• Can take a while for users to get used to 
• Customer support can be lengthy as a result of a large customer base 
• Does not offer margin trading, derivatives or Futures markets 

CoinJar

CoinJar is a well-established crypto trading exchange, it has been around for 9 years and it is currently based in Melbourne. It does have plans to has plans to expand its operations to the UK in the future.  

It is also one of the very few platforms that offer a physical crypto debit card. Launched in early 2022, the CoinJar Crypto Debit Card lets you use your cryptocurrencies to make everyday purchases. It can be used everywhere Mastercard is accepted.  

They also have over 10 bundles of diversified crypto, ideal for beginners and experienced investors alike. Some of the most sought-after bundles are the DeFi Bundle, the Stablecoin Bundle, and the Green Bundle (eco-friendly).  

Cost 

• Currency Conversion: 1% 
• Instant Buy: 2% 
• Maker’s Fees: From 0.1% to 0.04% 
• Taker’s Fees: Free 
• Deposit Fees: Free 
• Withdrawal Fee: 1% 
• Deposit Fees: Free 
• Withdrawal Fee: Free 

Pros 

• Plenty of additional features 
• The platform is very friendly for beginner traders. 
• Low fee structure. 
• The exchange can be accessed by mobile app 
• To offset the transaction fees on the exchange, CoinJar offers its user Reward points that can be used at the Rewards Store. 

Cons 

• A limited number of cryptocurrencies can be accessed. 
• The trading fees are based on a floating spread that will increase during volatile market conditions. 
• Customer support agents cannot be reached on weekends. 
• Traders cannot take to short positions crypto pairs. 
• Only Australian investors can withdraw and deposit fiat currency. 

Kraken

Kraken is a crypto exchange and bank that was founded in 2011. Today, the company’s headquarter is located in San Francisco and it has many offices across the world.      

The crypto trading platform on Kraken is simple and user-friendly. It’s catered to the new traders in the cryptocurrency market and offers them a simplified and approachable trading interface. Its service is available in every country except for Cuba, Iran, and North Korea. 

Kraken is one of the few global crypto exchanges out there that caters to both retail and institutional traders. It also provides cryptocurrency pricing updates directly to the Bloomberg Terminal on Wallstreet, New York.  

As one of its stand-out features, Australian traders are allowed to trade on margin accounts with a leverage of up to 1:5 in the cryptos spot market and leverage of up to 1:50 in the cryptos’ future derivative market.   

Kraken exchange also comes in a Pro version. It allows users to have access to advanced features on the trading platform as well as lower transaction fees. 

Cost 

• Trading fees: 0% – 0.26% 
• Crypto credit card purchases: 3.75% + €0.25 
• ACH crypto purchases: 1.5% 

Pros 

• Wide selection with over 90 cryptocurrencies to trade 
• Simple and intuitive user interface 
• The exchange provides plenty of educational resources for its new traders 
• Excellent 24/7 customer support that can be contacted through a variety of methods 
• The user interface offers advanced trading tools 

Cons 

• A complicated trading platform might be difficult for new users to use 
• A slow verification process for intermediate and pro-level accounts 
• The website may experience laggings on occasions 
• Doesn’t have credit cards and debit cards deposit as deposit methods 

Summary 

It’s hard to choose the best cryptocurrency exchange in Australia that suits your needs. Each exchange has its own unique features as well as disadvantages. So instead of picking the one that’s the best, we highlighted the benefits of each crypto exchange and matched them with the type of traders that they are best suited for.