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Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.
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Crypto trading can make you a fortune; that’s a fact. After all, people like Changpeng Zhao are raking in tidy sums from this activity. But getting maximum benefits from this golden goose requires knowledge, discipline, and wit. In addition, it demands a splendid crypto exchange Australia. Our experts are here to help you deal with the latter.
When it comes to crypto exchanges available in Australia, we have the good, the bad, and the ugly. Some platforms are outstanding and unquestionably reliable, and we’ve recommended 5 below. However, there are also many inferior and, in some cases, fraudulent service providers. To avoid malicious or inept entities, our team vetted the exchanges in Australia and picked the best of the best, which we’ve covered in this guide.
List of the Best Crypto Exchanges
- Kraken – Overall Best Crypto Exchange Australia
- eToro – Best Crypto Exchange for Australian Social Traders
- Crypto.com – Best Exchange for Altcoin Enthusiasts in Australia
- Coinbase – Best Crypto Exchange for Beginners in Australia
- Exodus – Best Decentralized Exchange in Australia
In This Guide
Australian Crypto Exchanges: Comparison Table
If you do a brief online search right now, you’ll uncover countless crypto exchanges that accept Australians. As usual, they all claim to be outstanding and better than their peers. But in most cases, that is far from true. We have tested myriad service providers and can confidently declare many unfit or downright deplorable. Over the years, we’ve also encountered more than a couple of potentially fraudulent service providers.
Our primary objective is to help you avoid lousy or unscrupulous exchanges and find the best brands. Our gurus assessed a truckload of service providers. After many hours of intense work, we singled out five of the best brands. Our team picked them based on a fixed set of crucial factors, from licensing and regulation to fees and minimum deposit requirements.
Below, we’ve touched on some of the factors we considered while choosing the best Australian crypto exchanges. You should use the same elements to compare our experts’ recommended brands and identify a service provider guaranteed to help you reach for the stars.
| Best Crypto Exchange Australia | Broker Type | Support Service | Price | Supported Coins | Digital Wallet |
|---|---|---|---|---|---|
| Kraken | Centralised | 24/7 | Free | 200+ | Yes |
| eToro | Centralised | 24/5 | Free | 100+ | Yes |
| Crypto.com | Centralised | 24/7 | Free | 350+ | Yes |
| Coinbase | Centralised | 24/7 | Free | 200+ | Yes |
| Exodus | Decentralised | 24/7 | Free | 300+ | Yes |
Exchanges Short Overview
While choosing the best service providers for our readers, our experts never ignore fees and assets. We don’t want you to spend a sizable chunk of your hard-earned money covering exchange fees and charges. Neither do we want to see most of your profits getting undermined by excessive costs. We aim to ensure you are trading with an affordable exchange with the right financial instruments.
Use the comparison table below to search for the best crypto exchange Australia based on fees and assets.
Fees
| Best Crypto Exchange Australia | Fees and Commissions | Minimum Deposit Requirement |
|---|---|---|
| Kraken | From 0.0% /0.1% maker/taker fees | $1 |
| eToro | 1% fee for buying or selling crypto | $100 |
| Crypto.com | From 0.0%/ 0.1% maker/taker fees | None |
| Coinbase | From 0.05%/ 0.00% maker/taker fees | None |
| Exodus | $0 | None |
Assets
| Best Crypto Exchange Australia | Bitcoin | Ethereum | Litecoin | Ripple | Tether | Solana |
|---|---|---|---|---|---|---|
| Kraken | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto.com | Yes | Yes | Yes | Yes | Yes | Yes |
| Coinbase | Yes | Yes | Yes | Yes | Yes | Yes |
| Exodus | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about Crypto Exchanges
Here are our reviews of the best crypto exchanges in Australia. Remember, we thoroughly tested and analysed these service providers before recommending them. Based on our findings and experiences, they stand out from the rest and are better suited to helping you achieve astronomical success and dodge catastrophic failure.
Since we couldn’t fit every detail regarding each of the recommended crypto exchanges in Australia, we encourage you to seek more information before making any commitments. Besides conducting extensive research, you should read every exchange’s reviews and testimonials on Google Play, the App Store, and Trustpilot. We always do the same, and that has saved us from what might have turned into disappointing and frustrating experiences.
1. Kraken – Overall Best Crypto Exchange Australia
After extensive exploration and analysis, our experts have awarded Kraken the top spot. And rightly so since, first and foremost, this exchange offers an enviable array of trading tools and functionalities. Its users can choose conventional spot trading or enhance potential returns with flexible margins of up to 5x. The latter, margin trading, comes with competitive fees starting from 0.01%.
Hundreds of crypto assets are accessible from the Kraken exchange, ranging from Cardano and Bitcoin to Tron and USDC. And, with a small capital starting from $10, you can buy a wide variety of assets. Moreover, this exchange caters to professional traders. If you have enough experience under your belt, you can switch to Kraken Pro. This highly customisable platform has a powerful interface that allows users to seamlessly switch between spot trading, staking, and futures trading.
Kraken is also our top pick because it offers flexible funding options and outstanding support services. Furthermore, the exchange has provided rich articles that beginners and pros alike can use to advance their knowledge and reach new heights. You should also know that you can enjoy low fees starting from 0% while trading with Kraken.
Kraken
✔245+ available crypto
✔Simple user interface
Pros & Cons
Fees
Trading Assets
Pros
- Friendly fees, starting from 0%
- Rapid responses from support agents
- Stylish, intuitive user interface
- Low minimum investment amount
- Up to 26% in staking rewards
- Extensive educational materials
Cons
- Low-volume traders are subject to higher fees
- No phone support
Fees are a bone of contention with Kraken because while some praise the platform’s affordability, lenient fees are mostly available to pro users and high-volume traders. For instance, individuals with a 30-day trading volume can enjoysuper-low maker fees starting from 0.00%. On the other hand, the maker/taker fees for low-volume traders can go as high 0.25%/0.4%. We’ve outlined some of the fees that our gurus unearthed while evaluating Kraken in the table below.
| Fees and Charges | Details |
|---|---|
| Maker/taker fees | From 0.00%/0.10% |
| Margin trading fees | Between 0.01% and 0.02% |
| Rollover fee | Up to 0.02% (per 4 hours) |
| Instant buy fees | Yes |
| Account inactivity fees | No |
| Minimum deposit requirement | 0.00001 BTC |
2. eToro – Best Crypto Exchange for Australian Social and Copy Traders
Social trading is very popular in the crypto space. If you don’t yet, this element makes it possible for crypto traders to copy and follow the most successful and experienced traders. It can be incredibly beneficial, especially to newbies trying to find their footing. Having said that, eToro is the perfect exchange for individuals who’d like to copy and learn from seasoned gurus.
eToro’s CopyTrader allows users to leverage the expertise of the most successful traders and increase potential profits. It’s tailored for both newbies who are still learning the ropes and experienced traders who don’t want to spend too much time monitoring the markets. The best part is that this solution supports automation and boasts a thriving community with millions of members.
Besides copy trading, we highly recommend eToro’s crypto exchange platform. It’s simple, exquisitely designed, and very easy to maneuver. You shouldn’t face any difficulties familiarising yourself with it, even if you’re a beginner. And speaking of beginners, eToro has a terrific academy and many educational materials tailored to help newbies understand the nuances of crypto trading.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Simple, beginner-friendly user interface
- A bustling community where traders can interact and share ideas
- Supports social and copy trading
- Top-quality learning tools, including a free academy
- Simple, transparent fee structure
- Crypto traders can diversify with stocks, ETFs, etc
Cons
- Dormant trading accounts are subject to a $10 inactivity fee
- Limited crypto assets compared to its peers
eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| From $50, depending on your jurisdiction | 0.6 |
| Commission | From 0% on stocks and ETF trading |
| Spreads | From 1 pip on major currency pairs |
| Deposits and Withdrawals | $5 withdrawal |
| Inactivity | $10 monthly |
| Currency Conversion | 1.5% or 3.0%, depending on the currency or payment method |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
3. Crypto.com – Best Exchange for Altcoin Enthusiasts in Australia
Bitcoin, the harbinger of the crypto era, is infamous today. Sadly, many people have lost fortunes because they focused too much on this coin and ignored other cryptocurrencies. We always encourage our readers to trade and invest in altcoins, too, to spread risk and avoid catastrophic losses. Most importantly, dabbling in altcoins is a splendid idea since many of these new assets often have high-profit potential courtesy of aspects like innovative tech and smaller market caps.
Considering the above, Crypto.com has an impressive array of altcoins. We discovered over 300 of these terrific assets on the exchange, including trendy options like Ethereum, Solana, and Tether. You can trade these altcoins via the Crypto.com desktop platform or the exchange mobile app.
Besides altcoins, we highly recommend Crypto.com because the company offers a unique Defi wallet and debit card. The Crypto.com wallet gives you 100% control over your keys and assets. This fantastic solution supports + tokens and 6+ blockchains. On the other hand, the Crypto.com visa card allows you to shop with millions of merchants and pay seamlessly.
Crypto.com DeFi Wallet
✔Decentralized wallet
✔Over 25 tokens
Pros & Cons
Fees
Trading Assets
Pros
- Supports hundreds of altcoins
- Investors can stake crypto and earn returns
- New traders can start with $1
- Zero maker fees for all VIP traders
- DCA, Grid, and TWAP bots are available
Cons
- Limited customer channels
- Higher fees for normal, low-volume traders
The Crypto.com wallet is free, so you don’t have to worry about spending your hard-earned money on subscription fees and similar charges. That said, while using this wallet, you may be subject to transaction fees, swap fees, and other costs. They often vary from time to time, so we highly encourage you to review the company’s terms and conditions and stay on top of all arising developments.
4. Coinbase – Best Crypto Exchange for Beginners in Australia
If you are a beginner, we urge you to start trading crypto with Coinbase. The exchange has a simple, user-friendly interface optimised to ensure you have no challenges with navigation, purchasing crypto, selling assets, etc. Moreover, it has a simplified account setup process tailored to help you get started without getting overwhelmed or confused.
Education is crucial to every crypto trader’s success, and Coinbase understands that. The exchange has a terrific platform called Coinbase. It has countless materials that introduce beginners to the basics of every indispensable element, from crypto assets to blockchain and airdrop. The platform has also provided an extensive glossary that you can use to expand your vocabulary and familiarise yourself with essential terms. And that’s just the tip of the iceberg. Many other materials are available, from tutorials to guides and explainers.
We also strongly recommend this exchange because it offers good support. If you have any questions or concerns, you can reach out to its professional team via live chat. If you ever face an issue that requires urgent attention, like a security-related problem, you can call the company’s support representatives for rapid assistance.
Coinbase
✔Available in over 100 countries
✔Authorized, licensed and regulated
Pros & Cons
Fees
Trading Assets
Pros
- User-friendly interface optimised for seamless navigation
- Top-class, rich educational materials
- Excellent customer support service
- New sign-ups receive a juicy welcome bonus
- Newbies can spend crypto with a Coinbase card
Cons
- You can’t contact support before signing up
- Low-budget newbies are subject to higher taker and marker fees
Coinbase doesn’t have a fixed minimum deposit requirement, which should be terrific news to people working with a limited budget. Moreover, the exchange covers transaction charges on behalf of its clients, so you don’t have to worry about additional costs while topping up your Coinbase account. To make everything better, the company allows its users to send crypto to other Coinbase users free of charge.
That said, our experts discovered numerous fees and charges while researching and evaluating Coinbase. For starters, the company charges a 0.1%C Lighting Network fee as well as variable exchange fees that depend on numerous factors, including market conditions, order size, and the involved payment method. Coinbase users who require asset recovery services are also subject to network and recovery fees.
Let’s review some of the fees and charges that you might encounter while trading with Coinbase:
| Fees and Charges | Details |
|---|---|
| Minimum deposit | None |
| Fiat deposit fees | $10 (wire), €0.15 (SEPA) |
| Fiat withdrawal fees | $25 (wire), £1 (SEPA) |
| Crypto transfer fee | None |
| Exchange fees | From 5bps/0bps taker/maker fees |
| Lightning Network fee | 0.1% |
| Staking commission | From 25% |
5. Exodus – Best Decentralized Exchange in Australia
Trading with a decentralised exchange comes with many perks. For starters, it gives you greater control over your crypto assets and private keys. Furthermore, since decentralised exchanges have no KYC requirements, they offer the golden opportunity to enjoy unmatched privacy, security, and anonymity. You can reap these perks and many more by using Exodus.
Fundamentally, Exodus is a crypto wallet. But this next-gen solution allows users to swap between thousands of digital assets. Before swapping supported assets, you can buy crypto with your local currency directly from the wallet using payment methods like Google Pay, debit cards, and Apple Pay. You can do any other supported activities from your mobile or desktop wallet.
Exodus is also one of our favourites because the wallet is compatible with Trezor. If you’ve been in the crypto space for a while, you know Trezor is one of the most secure hardware wallets today. With this solution, you can keep your crypto assets offline where they can’t be affected by issues like hackers, fraudsters, and malware. As if that isn’t enough, Exodus users can stake supported crypto and enjoy substantial returns.
Pros & Cons
Pros
- No KYC identity verification
- User-friendly, intuitive interface
- Users can swap 1000s of crypto assets
- Zero proprietary fees
- Juicy staking rewards are offered
- Compatible with Trezor hardware wallet
Cons
- Fewer learning materials than its peers
- Limited exchange-related features compared to conventional platforms
Crypto Trading in Australia
If you are worried that crypto trading in Australia might attract harsh consequences, rest easy. This activity is 100% legal in this region. It’s also gaining popularity fast. Presently, millions of Aussies own crypto. And a significant percentage of these individuals have already dipped their toes into the crypto trading pool.
Crypto trading is regulated and overseen by different authorities. First, there’s ASIC, which governs the broader financial system in Australia and ensures Aussies enjoy optimum protection. Then there’s AUSTRAC, which is tasked with ensuring all involved entities comply with stringent counter-terrorism financing and anti-money laundering requirements.
Today, you can start trading crypto in Australia, provided you’re 18 and above. But before doing so, please learn all the fundamentals and practice consistently. Also, note that, in Australia, cryptocurrencies are subject to taxation. Research and understand all associated taxation mandates to avoid breaking the law in the future.
What is a Crypto Exchange?
A crypto exchange is essentially a platform that allows crypto enthusiasts like you to buy and sell your chosen digital currencies. The first exchange was created in 2010 by a lesser-known Bitcoin enthusiast. It was a simple portal that made it possible for savvy individuals to buy and sell BTC. But today’s exchanges are far better in terms of everything, from features and functionalities to usability and security.
How to Choose the Best Crypto Exchange in AU
Hundreds of crypto exchanges are up and running today. At the same time, that isn’t inherently bad since it gives more wiggle room when it comes to picking the best crypto exchange in Australia. But the same element also complicates the situation by exposing you to innumerable sub-par exchanges and scammy entities.
But nothing should stop you from reaping the boons of crypto trading, especially unscrupulous exchanges or lousy service providers. You can quickly tell them apart from their counterparts and find a platform that will catalyse your rise to success. What must you do? It’s simple. Vet all exchanges based on the following:
Security Measures
Costs and Fees
Supported Cryptos
User Experience
Funding Methods
Track Record
To enjoy uncapped security, look for a crypto exchange that operates in accordance with ASIC and AUSTRAC. If you choose a centralised platform, check the measures it has in place for securing client funds and assets.
We encourage our readers to check and compare different service providers’ fees and charges before making the final decision. Pay close attention to the most crucial elements, from account maintenance to maker and taker fees.
Do you have crypto assets you’d like to trade in mind? Save yourself unnecessary headaches by signing up with an exchange that supports them. The best service provider should also enhance your exposure to more profit-generating opportunities by giving you access to many diverse digital tokens and coins.
Smooth experiences are indispensable to your success as a crypto trader. Prioritise going with an exchange with an intuitive, easy-to-navigate user interface. That is of paramount importance, especially to newbies.
Before committing to a specific exchange, check the supported payment methods. Some platforms are only crypto-friendly, but others accept crypto and fiat transactions. Ensure the exchange you choose supports what you consider to be the most convenient funding solutions.
Research every crypto exchange’s history and reputation before opening an account. Choose a service provider with a good reputation and record to avoid complications like delayed transactions and frequent security breaches. You can tell from reviews and testimonials on Google Play, the App Store, and Trustpilot.
Risks to Trade Crypto
Trading crypto comes with numerous risks. First, there’s leverage risk. Leverage trading can enhance potential returns and magnify losses. There’s also market volatility. Crypto prices often swing wildly and unexpectedly, and extreme fluctuations can cause significant losses or juicy profits.
Not to forget, sometimes savvy hackers target and compromise crypto exchanges and wallets. Many shocking hacks have occurred over the years, popular examples including Ronin Network and Poly Network.
Pros & Cons of Trade with Crypto Exchange
Like every other venture on planet Earth, crypto trading has its upsides and downsides. Here’s a quick rundown:
Pros:
- Handsome potential returns: Volatile crypto prices offer traders and investors the opportunity to rake in tidy returns.
- 24/7 market access: Crypto markets are open 24/7/365, allowing you to profit from trading your favourite assets anytime, any day.
- Asset ownership: As a crypto trader, you own the underlying asset and don’t have to rely on any intermediaries.
Cons:
- Shaky consumer protection: Comprehensive consumer protection has yet to become a key feature in the crypto market, meaning you’re still highly exposed to issues like fraud.
- Steep learning curve: Since technologies like smart contracts and blockchain are a bit complicated, beginners often have a hard time learning their nuances.
Conclusion
The right crypto exchange can aid your journey to success. But the wrong platform can cripple your trading career or rob you blind. We encourage you to stick with one of the service providers listed in this guide. Most importantly, before trying to trade with any platform, gauge its reliability through online reviews and testimonials.
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