Best Crypto Exchanges for Australia 2024

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Cryptocurrency is inching closer to mainstream adoption, and with this, there has been huge growth in the number of crypto exchanges available in Australia. If you want to start investing in crypto, the most important factor is finding a platform that is trustworthy and secure.

Marketplace Fairness has hand-picked a list of the best crypto exchanges for Australians, which have all been personally tested as safe to use.

1. CoinSpot

2. Swyftx

3. Digital Surge

4. Binance Australia

5. Independent Reserve

6. eToro Australia

7. Kraken

8. Easy Crypto Australia

9. Coinstash

10. Elbaite

The title of Australia's best crypto exchange goes to CoinSpot, and the #1 reason is the strong reputation it holds as the largest, safest and most audited platform. Having been around since 2013, and boasting 2.5 million users, CoinSpot is regulated by AUSTRAC, registered with ASIC, and is even a certified member of Blockchain Australia. Unlike some smaller exchanges that have stolen customer assets in the past, CoinSpot is here to stay. You can have absolute peace of mind when you trade and invest using CoinSpot.

Another huge feature of CoinSpot, is they support an impressive range of more than 360+ cryptocurrencies, and they continually add more to their collection. For newcomers, it is very easy to use their Instant Buy and Sell option (1 per cent fee) to quickly trade cryptocurrencies. For those that are more experienced, you can access Market trades, where the fees are only 0.1 per cent, or OTC (over-the-counter) trades, where large transactions over $50,000 are placed with no slippage, and low 0.1 per cent fee.

Staking of 22 popular coins (e.g. ADA, SOL, BNB, CRO) is available on CoinSpot. This is a great feature that isn't offered on most other Australian crypto platforms, and makes CoinSpot stand out from the rest. You can earn high interest rates on your cryptocurrency, which will grow your investment over time. If you are a long-term crypto investor, staking your coins is definitely something to consider.

NFTs have exploded in popularity, and many newbies want to get involved, but don't know where to start. CoinSpot makes it extremely easy with their NFT marketplace built into their platform. You can access a variety of NFT collections, including Bored Ape Yacht Club, and purchases can be made in any cryptocurrency of your choice. This eliminates the hassle of swapping one coin for another, simply to buy an NFT, and you don't need to connect any external wallets.

CoinSpot is also well known for their customer support team who is available via Live Chat. They are very responsive and knowledgeable, and are a great aid if you are a new investor who is struggling to understand anything crypto-related. You won't need to spend hours searching for answers when you can access direct help instantly.

A variety of deposit methods are available to use including POLi, PayID, OSKO, BPAY, cash deposit, and cryptocurrency

Visit CoinSpot

Swyftx is a popular crypto exchange that has been around since 2017. With a list of more than 310+ coins, low fees and spreads, and crypto earning available, it's easy to see why Swyftx appears at the #2 spot.

Swyftx's user interface is easy to navigate, allowing you to buy and sell 310+ cryptocurrencies instantly, without any hassle. There are no complicated graphs to read before trading, and you can find a range of features such as limit orders and recurring buys, for those who prefer using them. This means that both new investors and more experienced users will enjoy using Swyftx.

Swyftx has included a unique demo mode where you can practise trading with $10,000 virtual cash. This helps beginners learn how the platform works, as well as giving them a chance to test out strategies with no risk at all. All demo trades reflect the actual prices of cryptocurrencies, so it is a realistic way of seeing how crypto markets fluctuate.

If minimising fees is one of your top priorities, Swyftx is an excellent option. With free AUD deposits and withdrawals, and low trading fees of 0.6 per cent, Swyftx has got you covered. Not only can you save money with Swyftx, but you can make money with their Earn feature. All you need to do is opt in to earn interest on a select number of cryptocurrencies, and you will see your investment grow over time.

Serious crypto traders may not find Swyftx the best exchange for them, as there are no advanced features such as derivatives trading or margin trading. However, for beginner and intermediate crypto investors, Swyftx is a fantastic option.

Visit Swyftx

Digital Surge is the best cryptocurrency exchange for low fees and spreads in Australia. Marketplace Fairness, a well-known crypto review site in Australia, conducted third-party testing on this exchange and found exceptional results. The average spread was only 0.21 per cent, much lower than Swyftx (0.51 per cent) and CoinSpot (1.13 per cent).

Besides the low fees, Digital Surge is a great choice for beginners because it is easy to use, is secure, and legitimate, registered with AUSTRAC and ASIC. It has been in operation since 2017 and offers more 300+ cryptocurrencies that are available for purchasing instantly with AUD.

Digital Surge users will find it very easy to get accustomed to the interface on both the desktop site and mobile app. When you choose which cryptocurrency you want to trade, there are no complicated graphs or charts to deal with - all you need to do is click on Buy or Sell and you're ready to go. Those who have more trading experience also have the option to use more advanced features such as placing limit orders.

Digital Surge has a unique feature where users can use Bitcoin in their account to pay bills, which is not found on other Australian cryptocurrency exchanges. As long as your Australian bill or credit card accepts BPAY, you can make the payment directly using Bitcoin. There is no need to go through the inconvenience of selling Bitcoin, and waiting for your AUD withdrawal before you can make the payment.

The customer support on Digital Surge is also top-notch, available 24/7, and you can use live chat or email to contact them. This is a welcome feature, because some exchanges with no customer support are very frustrating when you are locked out of your account for no reason. With Digital Surge, you always have a real person to talk to, to resolve your issues.

While staking is not currently a feature that is available on Digital Surge, it is something they are implementing in the near future. All in all, Digital Surge is a basic, but low cost exchange that is excellent for newcomers to crypto.

Visit Digital Surge

Binance is a cryptocurrency trading platform that has a huge number of features to choose from. However, it is worth bearing in mind that it is not the most beginner-friendly option, and is more suited for serious traders.

Binance offers more than 600+ different cryptocurrencies, and advanced features such as staking, crypto borrowing, NFT marketplace, derivatives trading, and more.

Binance users can deposit AUD for free using OSKO or PayID, and start trading for only 0.1 per cent. If you plan on trading a lot, you should consider paying for fees using Binance's own coin (BNB), which gives you access to 25 per cent off trading fees! This means your trading fee goes from 0.1 per cent to an extremely low 0.075 per cent.

For those that like to automate their trading, Binance has excellent compatibility with a wide range of third-party trading bots. This allows you to continue trading without being at the computer, so you never miss out on opportunities, even as you sleep.

One thing to note is that since Binance is not an Australian cryptocurrency exchange, some users report trouble with getting verified or accessing their account, which is an issue since Binance has no customer support team to contact.

Visit Binance Australia

Independent Reserve is an Australian cryptocurrency exchange that has lower trading fees than both CoinSpot and Swyftx, and allows large investors to reduce their fees further based on trade volume. When you trade a monthly amount of $100,000 or more, your fees will start to reduce. Traders who make trades of more than $20M monthly will have the lowest fees at just 0.02 per cent.

Because of this, as well as Independent Reserve's trusted record, it is ideal for businesses, SMSFs, family offices and high-net-worth traders. They have an excellent OTC desk and is the only Australian crypto exchange to offer optional insurance. Insurance on cryptocurrency assets can be taken out to cover up to $5M. They also offer tax reports powered by KPMG to make accounting and reporting easier.

While Independent Reserve only supports twenty-seven cryptocurrencies, they do offer the most popular and globally traded coins. It is a great option for those that are focused on trading large amounts on a regular basis.

Visit Independent Reserve

eToro is not a regular cryptocurrency exchange but rather a broker that offers a variety of trading instruments, such as stocks, forex and cryptocurrency in a user-friendly platform.

Since eToro is not a dedicated crypto exchange, it only offers around 30 cryptocurrencies, but it is still worth considering since it offers a range of features that aren't found elsewhere. For example, you can purchase crypto CFDs where you can make money on crypto prices or going up or down, and you can access other markets such as forex and US stocks.

eToro offers a demo account which includes $100,000 of virtual cash so you can practice trading and become acquainted with the platform without putting any of your money at risk. This is a big drawcard for newcomers that are unsure what they are doing, or want to test out a particular strategy before committing to it.

There is a big focus on social trading at eToro, and there is a News Feed where you can comment or post, and interact with other users. You can also browse and follow the most successful traders, and even automatically copy their trades so you can benefit from their knowledge and experience. This is a fantastic option for those who want to learn about trading but don't know how to get started.

Since eToro operates in USD, it is worth noting that you will need to pay currency conversion fees when you deposit and withdraw in AUD.

Visit eToro Australia

Kraken has a lot in common with Binance, when it comes to trading markets on offer, crypto staking, margin trading, and low fees. However, Kraken is more security-focused in comparison with Binance and does not offer as many coins.

Since Kraken is US-based, you know you can trust its security, as it needs to comply with heavy regulation. This has given it a reputation as one of the most secure cryptocurrency exchanges around the world today. The advanced trading interface is easy to use, yet detailed, and maker/taker fees of 0.16/0.26 per cent are very competitive.

Users can also opt to instantly buy and sell cryptocurrency (1.5 per cent fee) if they are looking for a quick option, or if they are still new, and prefer the simpler method to purchase coins. As you become more comfortable with the site, you can take advantage of other features like staking, margin trading and futures.

One thing to note before you sign up is that only 19 cryptocurrencies are available to trade against AUD, which is limiting for Australian investors. If you only intend to trade the most popular cryptocurrencies, then this is unlikely to cause too much of a problem.

Visit Kraken

Easy Crypto Australia is the perfect exchange for someone who wants to buy crypto immediately without any funds being held on an exchange. When you want to buy a coin, all you need to do is click on Buy and you make the payment instantly, without being required to deposit in advance.

Once you have purchased the crypto that you want, it is not stored on the exchange. Instead, it will be sent directly to your crypto wallet, which makes this exchange an ideal option if you want to keep your coins safe and completely in your control. You can invest in and trade crypto with peace of mind thanks to the 100 per cent funds guarantee on all orders. As nothing is stored on the exchange, you know that your crypto cannot be stolen or lost.

Visit Easy Crypto Australia

Coinstash is a basic crypto exchange that is easy for beginners get used to. There are more than 340+ different cryptocurrencies available to buy and sell with AUD. Staking is also possible, which is not always available on the more basic exchange options.

If you need advice or experience any problems, live chat and support tickets are available with a responsive customer service team. Coinstash has an Australian Financial Services License to ensure the safety and security of users. Coinstash has been featured in the mainstream media quite a lot, and shown a lot of growth in user numbers and popularity.

Visit Coinstash

Elbaite is the best peer-to-peer crypto trading option in Australia, with no fees for sellers and only 1 per cent fee for buyers. Users can buy and sell cryptocurrencies by transferring them directly from one crypto wallet to another on this non-custodial P2P marketplace.

There is no need to worry about losing your assets if Elbaite is hacked since the coins are never stored on the exchange and always kept in your personal wallet. Along with this, transactions are very secure with your details never revealed without your consent. Until the Blockchain verifies that the cryptocurrencies you have purchased have been sent to your wallet, an escrow amount is used to hold the funds. This allows both buyers and sellers to trade with confidence that they will always get their crypto or fiat currency.

Elbaite is a particularly useful platform for large volume traders who want security, safety, and more control over their assets.

Visit Elbaite

Disclaimer: Marketplacefairness.org has provided this content for informational purposes only. This should not be taken as financial advice to buy, trade, or sell cryptocurrency or use any specific exchange. This is not intended for use as investment, financial or legal advice as each individuals need will vary. This story may include affiliate links with Marketplacefairness.org partners who may provide compensation. ACM advises readers consider their own circumstances and obtain their own advice. You should also verify the nature of any product or service, and consult with the relevant regulators' website before making any decision.