CoinJar review
Independent Reserve is a long-standing exchange that has cemented itself in the Australian crypto industry. The company was founded in 2013 by Adam Tepper and Adrian Przelozny as part of the first-wave of Australian crypto platforms. The exchange only supports a handful of digital currencies, but balances this with strong customer support and advanced trading options.
0.02-0.5%
Bank transfer: Free for deposits of $100+
$0.99 charge for deposits under $100
Debit and credit cards: 1%
PayPal: 1%
Bank transfer: Free
PayID/Osko/Instant withdrawal: $1.50
30
Sydney
4
Independent Reserve is a clean, modern crypto trading platform ideal for higher-net-worth or institutional investors. The platform caters heavily to those who trade professionally or frequently. For example, the base trading fee (0.5%) can be reduced to 0.02% for accounts that trade more than 200 million AUD monthly.
The lack of cryptocurrencies available may be off-putting to more speculative investors, but the kind of customer Independent Reserve attracts likely only wants to trade a select few digital assets anyway. Advanced traders will also enjoy the multitude of deposit options, leveraged trading (up to 2x) and Independent Reserve’s integration with the KPMG tax estimator.
Independent Reserve review
Opening a crypto exchange account for the first time can be a little intimidating. However, most modern platforms have straightforward sign-up processes that takes less than ten minutes to complete. The most difficult element of registering on a crypto trading platform is verifying the new account, which usually requires government-issued identification like a passport or driver’s license.
To assist newcomers, here is a step-by-step guide to opening an exchange account using Swyftx as an example:
First, head to the exchange homepage being used. Most landing sites will make it extremely easy to begin the registration process – select “Sign up”, “Create an Account” or any other prompt given by the platform. On Swyftx, we can click “Signup” or “Start Trading”.
Next, we must enter relevant details to create a crypto exchange account. This typically includes email, country of residence, full name and a mobile number. Fill in the form accurately and move on to the next step. Ensure you have access to the quoted mobile and email address, as most platforms require these contact methods to be verified.
Verify the mobile number and email address entered using a unique six-digit code.
Finally, create a secure password to keep the account safe. Some platforms (such as Swyftx) will require passwords to contain unique characters like numbers, capital letters and so on.
Select “Create” and that’s it – the account is ready to rock and roll.
Although we now have an account that can browse our exchange of choice, we must still pass KYC protocols before depositing AUD and trading. Most platforms will automatically prompt new users to complete verification. If not, the process can be started via “Account Settings” or a similar tab.
To get started, new accounts need a form of government-issued identification. They may also need to take a selfie or sometimes even record a short video. Completing this process via a smartphone is much easier than a desktop browser. Follow the on-screen instructions and submit all required images and videos.
Most exchanges automatically verify new users, so the account should be ready to trade within five minutes if everything checks out. In some circumstances, the new account must undergo manual verification. This can take 24-72 hours, so some patience is required.
Either way, users can deposit AUD and begin trading their favourite cryptocurrencies once the account is fully verified.
Perhaps the hardest part of starting the crypto investment journey is choosing a trading platform that suits your needs. While the platforms noted on this list are all excellent options, what might work for one investor might be a poor choice for another. That’s why several factors are worth considering before choosing the best crypto exchange for you.
Australians should always consider using an Australian-based exchange – at least while starting out. There are many advantages to using a local exchange. For starters, they must abide by Australian financial regulations. Australian businesses also offer more relevant (and free!) deposit options (PayID/Osko, for example), operate in the same timezone and tend to have locally-based customer support.
On the other hand, more experienced traders may want to actually consider an exchange outside of Australia. This is because the nation is a relatively small market, and higher net-worth orders may suffer from poor liquidity and high spreads. Additionally, overseas platforms typically have better support for derivatives and margin trading.
A crypto exchange’s reputation is extremely important. A good resource to use is Trustpilot or Productreview, where independent customers give a rating out of five to various businesses and their associated customer support. New investors should also look at the customer service options available. Exchanges that offer 24/7 support, live chat or a mobile hotline are often preferable to those lacking these options.
These reviews give insight into the most trusted crypto exchanges in Australia.
Hacks and exchange attacks are slowly becoming a thing of the past for the crypto industry, but they are still a real threat for now. Australian exchanges are often innately more secure than international exchanges due to their lower turnover – making them less of a target. Other security metrics to consider include:
Beginner investors likely only need a few cryptocurrencies to start building their portfolios. Nearly every major exchange supports a wide enough range to get their customers started. However, experienced traders interested in more obscure altcoins should always double-check each platform’s listed coins. For example, it wouldn’t make much sense for an investor who wants to purchase SUI to sign up for an exchange that doesn’t offer it.
Platforms that do not accept AUD can pose a major inconvenience to investors – especially newcomers to the crypto scene. These exchanges should be avoided by those who want to take a backseat on their investment voyage.
Additionally, certain platforms may offer unique and appealing payment options. An exchange that allows investors to buy crypto with debit/credit card, PayPal or cash could be an advantage over a competitor that only supports bank transfers.
Fees are rightfully one of an investor’s biggest considerations before selecting a crypto exchange. For some traders, a fee difference of just 0.01% can be the difference between turning a profit and making a loss. While most platforms are fairly transparent with their trading fees, investors should always investigate spreads – the difference between an asset’s buy and sell price. These “hidden fees” can easily make a seemingly cost-effective exchange rather expensive.
Crypto regulation still sits in a grey area, but there are still important government protocols for exchanges to follow. Most of these rules act in the consumer’s best interest, so it’s a good idea for beginners to stick to exchanges registered with their local financial authority. For Australian operating platforms, this is AUSTRAC.
There are several high-quality exchanges in Australia for crypto enthusiasts to choose from. The “best exchange” will be one that suits each investor’s personal financial goals. Swyftx, Independent Reserve, OKX Australia, CoinSpot and CoinJar are all solid options.
Very few Australian exchanges have encountered major issues with liquidity or security. However, very few have acquired ISO27001 Certification, the industry standard for information security – including Swyftx, CoinSpot and Independent Reserve.
Swyftx has the highest Trustpilot score of Australian exchanges, with an excellent rating of 4.7/5. Other high-scoring local trading platforms include CoinSpot (4.4), CoinJar (4.1) and Coinstash (4.5).
International heavy-hitters Binance and Bybit have some of the lowest fees on the market. High-volume traders can see fees as low as 0.075%. For Australian exchanges, Swyftx reportedly has the lowest spreads, while Independent Reserve and Coinjar offer the lowest fees for institutional investors.
Performing due diligence on an exchange and the development team behind the company is a great way to ensure the exchange is trustworthy. However, the only way to truly avoid counterparty risk is to eliminate it altogether. Long-term investors should consider moving at least some of their crypto assets off an exchange and into a non-custodial wallet.
Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news.
Guides
Reviews
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. Crypto News Australia is a news service that adheres to its Editorial Policy. Crypto News Australia are a subsidiary of Swyftx Pty Ltd, which operates a cryptocurrency exchange in Australia and New Zealand. Our website is purely informational and provides news about cryptocurrency & blockchain. The information on Crypto News Australia should not be taken as financial advice, investment advice or a personal recommendation. Buying and trading cryptocurrencies is a high-risk activity. Please do your own due diligence before making any investment decisions. We are not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on this or any affiliated website.
Copyright © 2023 Crypto News Australia
source
CoinJar is Australia’s longest-running crypto exchange, with the platform bursting onto the scene over a decade ago in 2013. The team has helped over 600,000 Australians begin building their crypto portfolios with all the basics – Bitcoin, Ethereum and Litecoin. The platform is AUSTRAC registered and adheres to all regulatory requirements. In its years operating in Australia, CoinJar has built a reputation as a trustworthy and secure exchange perfect for beginners and intermediate investors.
1% instant spot orders
2% Instant Buy (via card)
0.1% exchange orders
PayID: Free
Bank transfer: Free
SEPA deposit: Free
Free
60+
Melbourne
4
CoinJar offers a smaller list of crypto assets than most modern-day competitors, but this is not necessarily a bad thing. It is a simple, beginner-friendly platform that doesn’t tend to bother with speculative altcoins. Customers can choose from the basic CoinJar platform (perfect for getting started) or the dedicated CoinJar exchange (excellent for intermediate traders).
The main CoinJar platform can get a little pricey – with spot trading fees a flat 1% – but is still a convenient option for a no-frills trading experience. The CoinJar exchange has an appealing fee structure, with costs as low as 0.02% per trade. However, the exchange may struggle with liquidity for high-volume traders compared to international alternatives.
CoinJar prides itself on being a streamlined, easily accessible crypto exchange. This means it has done away with many features seen in modern trading platforms. With that said, there is still plenty for investors of all skill levels:
CoinJar review
Independent Reserve is a long-standing exchange that has cemented itself in the Australian crypto industry. The company was founded in 2013 by Adam Tepper and Adrian Przelozny as part of the first-wave of Australian crypto platforms. The exchange only supports a handful of digital currencies, but balances this with strong customer support and advanced trading options.
0.02-0.5%
Bank transfer: Free for deposits of $100+
$0.99 charge for deposits under $100
Debit and credit cards: 1%
PayPal: 1%
Bank transfer: Free
PayID/Osko/Instant withdrawal: $1.50
30
Sydney
4
Independent Reserve is a clean, modern crypto trading platform ideal for higher-net-worth or institutional investors. The platform caters heavily to those who trade professionally or frequently. For example, the base trading fee (0.5%) can be reduced to 0.02% for accounts that trade more than 200 million AUD monthly.
The lack of cryptocurrencies available may be off-putting to more speculative investors, but the kind of customer Independent Reserve attracts likely only wants to trade a select few digital assets anyway. Advanced traders will also enjoy the multitude of deposit options, leveraged trading (up to 2x) and Independent Reserve’s integration with the KPMG tax estimator.
The Independent Reserve platform offers a modern, cutting-edge trading interface without the clutter found when using some competitors. There’s admittedly less on Independent Reserve for the casual investor. Still, businesses, institutions and high-net-worth individuals should enjoy the advantages offered by the long-running Australian exchange.
Independent Reserve review
Opening a crypto exchange account for the first time can be a little intimidating. However, most modern platforms have straightforward sign-up processes that takes less than ten minutes to complete. The most difficult element of registering on a crypto trading platform is verifying the new account, which usually requires government-issued identification like a passport or driver’s license.
To assist newcomers, here is a step-by-step guide to opening an exchange account using Swyftx as an example:
First, head to the exchange homepage being used. Most landing sites will make it extremely easy to begin the registration process – select “Sign up”, “Create an Account” or any other prompt given by the platform. On Swyftx, we can click “Signup” or “Start Trading”.
Next, we must enter relevant details to create a crypto exchange account. This typically includes email, country of residence, full name and a mobile number. Fill in the form accurately and move on to the next step. Ensure you have access to the quoted mobile and email address, as most platforms require these contact methods to be verified.
Verify the mobile number and email address entered using a unique six-digit code.
Finally, create a secure password to keep the account safe. Some platforms (such as Swyftx) will require passwords to contain unique characters like numbers, capital letters and so on.
Select “Create” and that’s it – the account is ready to rock and roll.
Although we now have an account that can browse our exchange of choice, we must still pass KYC protocols before depositing AUD and trading. Most platforms will automatically prompt new users to complete verification. If not, the process can be started via “Account Settings” or a similar tab.
To get started, new accounts need a form of government-issued identification. They may also need to take a selfie or sometimes even record a short video. Completing this process via a smartphone is much easier than a desktop browser. Follow the on-screen instructions and submit all required images and videos.
Most exchanges automatically verify new users, so the account should be ready to trade within five minutes if everything checks out. In some circumstances, the new account must undergo manual verification. This can take 24-72 hours, so some patience is required.
Either way, users can deposit AUD and begin trading their favourite cryptocurrencies once the account is fully verified.
Perhaps the hardest part of starting the crypto investment journey is choosing a trading platform that suits your needs. While the platforms noted on this list are all excellent options, what might work for one investor might be a poor choice for another. That’s why several factors are worth considering before choosing the best crypto exchange for you.
Australians should always consider using an Australian-based exchange – at least while starting out. There are many advantages to using a local exchange. For starters, they must abide by Australian financial regulations. Australian businesses also offer more relevant (and free!) deposit options (PayID/Osko, for example), operate in the same timezone and tend to have locally-based customer support.
On the other hand, more experienced traders may want to actually consider an exchange outside of Australia. This is because the nation is a relatively small market, and higher net-worth orders may suffer from poor liquidity and high spreads. Additionally, overseas platforms typically have better support for derivatives and margin trading.
A crypto exchange’s reputation is extremely important. A good resource to use is Trustpilot or Productreview, where independent customers give a rating out of five to various businesses and their associated customer support. New investors should also look at the customer service options available. Exchanges that offer 24/7 support, live chat or a mobile hotline are often preferable to those lacking these options.
These reviews give insight into the most trusted crypto exchanges in Australia.
Hacks and exchange attacks are slowly becoming a thing of the past for the crypto industry, but they are still a real threat for now. Australian exchanges are often innately more secure than international exchanges due to their lower turnover – making them less of a target. Other security metrics to consider include:
Beginner investors likely only need a few cryptocurrencies to start building their portfolios. Nearly every major exchange supports a wide enough range to get their customers started. However, experienced traders interested in more obscure altcoins should always double-check each platform’s listed coins. For example, it wouldn’t make much sense for an investor who wants to purchase SUI to sign up for an exchange that doesn’t offer it.
Platforms that do not accept AUD can pose a major inconvenience to investors – especially newcomers to the crypto scene. These exchanges should be avoided by those who want to take a backseat on their investment voyage.
Additionally, certain platforms may offer unique and appealing payment options. An exchange that allows investors to buy crypto with debit/credit card, PayPal or cash could be an advantage over a competitor that only supports bank transfers.
Fees are rightfully one of an investor’s biggest considerations before selecting a crypto exchange. For some traders, a fee difference of just 0.01% can be the difference between turning a profit and making a loss. While most platforms are fairly transparent with their trading fees, investors should always investigate spreads – the difference between an asset’s buy and sell price. These “hidden fees” can easily make a seemingly cost-effective exchange rather expensive.
Crypto regulation still sits in a grey area, but there are still important government protocols for exchanges to follow. Most of these rules act in the consumer’s best interest, so it’s a good idea for beginners to stick to exchanges registered with their local financial authority. For Australian operating platforms, this is AUSTRAC.
There are several high-quality exchanges in Australia for crypto enthusiasts to choose from. The “best exchange” will be one that suits each investor’s personal financial goals. Swyftx, Independent Reserve, OKX Australia, CoinSpot and CoinJar are all solid options.
Very few Australian exchanges have encountered major issues with liquidity or security. However, very few have acquired ISO27001 Certification, the industry standard for information security – including Swyftx, CoinSpot and Independent Reserve.
Swyftx has the highest Trustpilot score of Australian exchanges, with an excellent rating of 4.7/5. Other high-scoring local trading platforms include CoinSpot (4.4), CoinJar (4.1) and Coinstash (4.5).
International heavy-hitters Binance and Bybit have some of the lowest fees on the market. High-volume traders can see fees as low as 0.075%. For Australian exchanges, Swyftx reportedly has the lowest spreads, while Independent Reserve and Coinjar offer the lowest fees for institutional investors.
Performing due diligence on an exchange and the development team behind the company is a great way to ensure the exchange is trustworthy. However, the only way to truly avoid counterparty risk is to eliminate it altogether. Long-term investors should consider moving at least some of their crypto assets off an exchange and into a non-custodial wallet.
Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news.
Guides
Reviews
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. Crypto News Australia is a news service that adheres to its Editorial Policy. Crypto News Australia are a subsidiary of Swyftx Pty Ltd, which operates a cryptocurrency exchange in Australia and New Zealand. Our website is purely informational and provides news about cryptocurrency & blockchain. The information on Crypto News Australia should not be taken as financial advice, investment advice or a personal recommendation. Buying and trading cryptocurrencies is a high-risk activity. Please do your own due diligence before making any investment decisions. We are not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on this or any affiliated website.
Copyright © 2023 Crypto News Australia
source
CoinSpot comparison guide
Bybit was founded in 2018 by experienced trader and broker Ben Zhou. The platform aimed to bring advanced trading tools to the young and underdeveloped crypto market. For years, investing in crypto was limited to simply buying, selling and swapping digital currencies. Bybit was one of the first platforms to offer its customers a wide range of crypto derivatives, who can trade them with up to 100x leverage. Bybit is not registered with AUSTRAC, meaning Australian customers cannot directly deposit AUD.
0.1%
Cryptocurrency: Free (although standard network fees will apply)
Cryptocurrency: Free (although standard network fees will apply)
150+
Dubai
0
Bybit is one of the most popular exchanges in the industry for advanced investors. The platform comes with several in-depth trading tools, including customisable charts, a copy trading mechanism and derivatives for most major digital currencies. Investors can also add stop-loss or take-profit triggers to their orders, vital for minimising risk when trading with leverage.
Bybit is also packed with useful features, security measures and a pretty well-received smartphone application. The major pitfall of the platform is two-pronged – fiat deposits aren’t directly handled by the Bybit exchange, meaning investors expose themselves to third-party fees and risks. On top of this, the massive range of features and trading options makes Bybit better suited for more experienced traders.
CoinJar is Australia’s longest-running crypto exchange, with the platform bursting onto the scene over a decade ago in 2013. The team has helped over 600,000 Australians begin building their crypto portfolios with all the basics – Bitcoin, Ethereum and Litecoin. The platform is AUSTRAC registered and adheres to all regulatory requirements. In its years operating in Australia, CoinJar has built a reputation as a trustworthy and secure exchange perfect for beginners and intermediate investors.
1% instant spot orders
2% Instant Buy (via card)
0.1% exchange orders
PayID: Free
Bank transfer: Free
SEPA deposit: Free
Free
60+
Melbourne
4
CoinJar offers a smaller list of crypto assets than most modern-day competitors, but this is not necessarily a bad thing. It is a simple, beginner-friendly platform that doesn’t tend to bother with speculative altcoins. Customers can choose from the basic CoinJar platform (perfect for getting started) or the dedicated CoinJar exchange (excellent for intermediate traders).
The main CoinJar platform can get a little pricey – with spot trading fees a flat 1% – but is still a convenient option for a no-frills trading experience. The CoinJar exchange has an appealing fee structure, with costs as low as 0.02% per trade. However, the exchange may struggle with liquidity for high-volume traders compared to international alternatives.
CoinJar prides itself on being a streamlined, easily accessible crypto exchange. This means it has done away with many features seen in modern trading platforms. With that said, there is still plenty for investors of all skill levels:
CoinJar review
Independent Reserve is a long-standing exchange that has cemented itself in the Australian crypto industry. The company was founded in 2013 by Adam Tepper and Adrian Przelozny as part of the first-wave of Australian crypto platforms. The exchange only supports a handful of digital currencies, but balances this with strong customer support and advanced trading options.
0.02-0.5%
Bank transfer: Free for deposits of $100+
$0.99 charge for deposits under $100
Debit and credit cards: 1%
PayPal: 1%
Bank transfer: Free
PayID/Osko/Instant withdrawal: $1.50
30
Sydney
4
Independent Reserve is a clean, modern crypto trading platform ideal for higher-net-worth or institutional investors. The platform caters heavily to those who trade professionally or frequently. For example, the base trading fee (0.5%) can be reduced to 0.02% for accounts that trade more than 200 million AUD monthly.
The lack of cryptocurrencies available may be off-putting to more speculative investors, but the kind of customer Independent Reserve attracts likely only wants to trade a select few digital assets anyway. Advanced traders will also enjoy the multitude of deposit options, leveraged trading (up to 2x) and Independent Reserve’s integration with the KPMG tax estimator.
The Independent Reserve platform offers a modern, cutting-edge trading interface without the clutter found when using some competitors. There’s admittedly less on Independent Reserve for the casual investor. Still, businesses, institutions and high-net-worth individuals should enjoy the advantages offered by the long-running Australian exchange.
Independent Reserve review
Opening a crypto exchange account for the first time can be a little intimidating. However, most modern platforms have straightforward sign-up processes that takes less than ten minutes to complete. The most difficult element of registering on a crypto trading platform is verifying the new account, which usually requires government-issued identification like a passport or driver’s license.
To assist newcomers, here is a step-by-step guide to opening an exchange account using Swyftx as an example:
First, head to the exchange homepage being used. Most landing sites will make it extremely easy to begin the registration process – select “Sign up”, “Create an Account” or any other prompt given by the platform. On Swyftx, we can click “Signup” or “Start Trading”.
Next, we must enter relevant details to create a crypto exchange account. This typically includes email, country of residence, full name and a mobile number. Fill in the form accurately and move on to the next step. Ensure you have access to the quoted mobile and email address, as most platforms require these contact methods to be verified.
Verify the mobile number and email address entered using a unique six-digit code.
Finally, create a secure password to keep the account safe. Some platforms (such as Swyftx) will require passwords to contain unique characters like numbers, capital letters and so on.
Select “Create” and that’s it – the account is ready to rock and roll.
Although we now have an account that can browse our exchange of choice, we must still pass KYC protocols before depositing AUD and trading. Most platforms will automatically prompt new users to complete verification. If not, the process can be started via “Account Settings” or a similar tab.
To get started, new accounts need a form of government-issued identification. They may also need to take a selfie or sometimes even record a short video. Completing this process via a smartphone is much easier than a desktop browser. Follow the on-screen instructions and submit all required images and videos.
Most exchanges automatically verify new users, so the account should be ready to trade within five minutes if everything checks out. In some circumstances, the new account must undergo manual verification. This can take 24-72 hours, so some patience is required.
Either way, users can deposit AUD and begin trading their favourite cryptocurrencies once the account is fully verified.
Perhaps the hardest part of starting the crypto investment journey is choosing a trading platform that suits your needs. While the platforms noted on this list are all excellent options, what might work for one investor might be a poor choice for another. That’s why several factors are worth considering before choosing the best crypto exchange for you.
Australians should always consider using an Australian-based exchange – at least while starting out. There are many advantages to using a local exchange. For starters, they must abide by Australian financial regulations. Australian businesses also offer more relevant (and free!) deposit options (PayID/Osko, for example), operate in the same timezone and tend to have locally-based customer support.
On the other hand, more experienced traders may want to actually consider an exchange outside of Australia. This is because the nation is a relatively small market, and higher net-worth orders may suffer from poor liquidity and high spreads. Additionally, overseas platforms typically have better support for derivatives and margin trading.
A crypto exchange’s reputation is extremely important. A good resource to use is Trustpilot or Productreview, where independent customers give a rating out of five to various businesses and their associated customer support. New investors should also look at the customer service options available. Exchanges that offer 24/7 support, live chat or a mobile hotline are often preferable to those lacking these options.
These reviews give insight into the most trusted crypto exchanges in Australia.
Hacks and exchange attacks are slowly becoming a thing of the past for the crypto industry, but they are still a real threat for now. Australian exchanges are often innately more secure than international exchanges due to their lower turnover – making them less of a target. Other security metrics to consider include:
Beginner investors likely only need a few cryptocurrencies to start building their portfolios. Nearly every major exchange supports a wide enough range to get their customers started. However, experienced traders interested in more obscure altcoins should always double-check each platform’s listed coins. For example, it wouldn’t make much sense for an investor who wants to purchase SUI to sign up for an exchange that doesn’t offer it.
Platforms that do not accept AUD can pose a major inconvenience to investors – especially newcomers to the crypto scene. These exchanges should be avoided by those who want to take a backseat on their investment voyage.
Additionally, certain platforms may offer unique and appealing payment options. An exchange that allows investors to buy crypto with debit/credit card, PayPal or cash could be an advantage over a competitor that only supports bank transfers.
Fees are rightfully one of an investor’s biggest considerations before selecting a crypto exchange. For some traders, a fee difference of just 0.01% can be the difference between turning a profit and making a loss. While most platforms are fairly transparent with their trading fees, investors should always investigate spreads – the difference between an asset’s buy and sell price. These “hidden fees” can easily make a seemingly cost-effective exchange rather expensive.
Crypto regulation still sits in a grey area, but there are still important government protocols for exchanges to follow. Most of these rules act in the consumer’s best interest, so it’s a good idea for beginners to stick to exchanges registered with their local financial authority. For Australian operating platforms, this is AUSTRAC.
There are several high-quality exchanges in Australia for crypto enthusiasts to choose from. The “best exchange” will be one that suits each investor’s personal financial goals. Swyftx, Independent Reserve, OKX Australia, CoinSpot and CoinJar are all solid options.
Very few Australian exchanges have encountered major issues with liquidity or security. However, very few have acquired ISO27001 Certification, the industry standard for information security – including Swyftx, CoinSpot and Independent Reserve.
Swyftx has the highest Trustpilot score of Australian exchanges, with an excellent rating of 4.7/5. Other high-scoring local trading platforms include CoinSpot (4.4), CoinJar (4.1) and Coinstash (4.5).
International heavy-hitters Binance and Bybit have some of the lowest fees on the market. High-volume traders can see fees as low as 0.075%. For Australian exchanges, Swyftx reportedly has the lowest spreads, while Independent Reserve and Coinjar offer the lowest fees for institutional investors.
Performing due diligence on an exchange and the development team behind the company is a great way to ensure the exchange is trustworthy. However, the only way to truly avoid counterparty risk is to eliminate it altogether. Long-term investors should consider moving at least some of their crypto assets off an exchange and into a non-custodial wallet.
Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news.
Guides
Reviews
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. Crypto News Australia is a news service that adheres to its Editorial Policy. Crypto News Australia are a subsidiary of Swyftx Pty Ltd, which operates a cryptocurrency exchange in Australia and New Zealand. Our website is purely informational and provides news about cryptocurrency & blockchain. The information on Crypto News Australia should not be taken as financial advice, investment advice or a personal recommendation. Buying and trading cryptocurrencies is a high-risk activity. Please do your own due diligence before making any investment decisions. We are not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on this or any affiliated website.
Copyright © 2023 Crypto News Australia
source
Trading is available with a maximum transaction fee of just 0.5%, which can drop as low as -0.01% for makers, and 0.02% for takers. High-volume traders can see savings in the thousands by using a low-fee platform like OKX over a local but more expensive alternative.
Crypto novices can find a home at OKX, too. Buying Bitcoin or 20+ other major tokens through the platform’s Express buy mode is incredibly easy and convenient. Investors can attach their credit/debit card, or fund their account with a bank deposit, and instantly add new coins to their portfolio.
OKX has moved its way into the Australian market, making it much easier for Aussies to buy prominent digital currencies with AUD.
OKX’s biggest change was the acquisition of an AUSTRAC license, significantly improving the trading experience for Australians on the platform. Aussies can now deposit AUD, among other benefits.
On top of this, OKX added several other features, including:
Crypto.com emerged in 2016 as a Hong Kong-based exchange founded by Bobby Bao, Gary Or, Kris Marszalek and Rafael Melo. After a few formative months, the platform became one of the industry’s most popular trading hubs for new and experienced crypto users. Much of its newfound status came from an intensive and targeted advertising campaign, including partnerships with Matt Damon, the Australian Football League, and purchasing naming rights to Los Angeles’ top sporting stadium.
0-0.075%
Bank transfer: Free
Osko: Free
PayID: Free
Credit/debit card (instant purchase): 3.5%
Apple/Google Pay: 2.99%
None (can vary)
350+
Singapore
30+
Crypto.com is a unique exchange, as it comes with two distinct platforms. The first is the smartphone application, intended for beginners to start building their crypto portfolios. The application offers several basic services, including the ability to instantly buy/sell crypto with a card, earn passive, on-chain income on certain assets, and receive rewards for holding CRO.
The desktop exchange comes with greater flexibility and is intended for more advanced investors. It’s worth noting the Crypto.com exchange is available on both desktop and mobile, whereas the app is exclusive to smartphone devices.
Australians can also benefit from the Crypto.com credit card, which allows them to spend their crypto holdings at EFTPOS machines as though it were fiat currency (like AUD). The card also comes with cashback and subscription promotions, which varies from month to month.
Crypto.com review
Binance launched in 2017 and has quickly catapulted to prominence and now sits as the world’s most popular cryptocurrency platform. Binance regularly leads the industry in terms of trading volume and liquidity. The exchange is renowned for its list of altcoins, features, and international presence. Recently, Binance was debanked by its Australian banking partner, meaning they can no longer accept AUD deposits.
0.1%
Cannot deposit AUD
P2P bank deposit: Free
Cannot withdraw AUD
P2P bank deposit: Free
500+
Caymen Islands
10+
Binance isn’t the oldest exchange in the crypto scene after being founded in 2017 by Changpeng Zhao (CZ). But what the exchange lacks in duration, it makes up for in popularity. Binance is by far the world’s highest-volume cryptocurrency exchange, frequently beating out all competitors in terms of 24-hour trading volume.
The website is renowned for its massive list of features – Binance is more of a decentralised ecosystem than a simple trading platform. Users can trade hundreds of crypto assets, support up-and-coming blockchain projects or mint their own NFTs. Binance’s low fees, industry-leading range of features and immense global liquidity make it a great choice for crypto investors of all skill levels.
Unfortunately, the Binance platform’s efficacy for Australians was harmed significantly in June 2023, when the business stopped supporting AUD deposits and withdrawals. Alongside this development, Binance ceased all trading pairs that used AUD. Major banking institutions such as Westpac had “barred clients from trading on Binance”. At the same time, payment providers PayID also ceased support for transferring AUD to Binance. Earn is similarly no longer available to Australians.
Binance is searching for new suppliers to bridge the gap between Australian customers and the popular trading platform. Until then, access for AUD users will be limited. Australian traders can still benefit from using Binance, however, they now must deposit cryptocurrency, utilise P2P trading or use the rather expensive bank/credit card “instant buy” feature.
Binance is regarded as the industry’s most feature-laden exchange. And for the most part, the platform lives up to this reputation.
Binance review
CoinSpot is Australia’s biggest exchange with over 2.5 million users nationwide. Founded in 2013, CoinSpot is also one of Australia’s oldest and most established exchanges. Similar to Swyftx, the platform takes a beginner-friendly approach with its sleek interface and simple navigation.
1% for instant buy and sell orders
Bank transfer, PayID: None
PayPal: 0.5%
Cash: 2.5%
Card: 1.88%
$0 on AUD withdrawals
2% on PayPal withdrawals
460+
Melbourne, Australia
1
CoinSpot was one of the first cryptocurrency exchanges on the Australian scene. The platform was founded in 2013, and in a decade of operation has built a reputation as a trustworthy and feature-rich exchange. The smooth user interface and easy-to-use buy/sell mechanism make CoinSpot a beginner-targeted exchange, although there’s plenty for intermediate crypto investors too.
The CoinSpot developers have steadily added new features to the site, including an NFT marketplace and crypto bundles. As an Australian-based exchange with an eye to simplicity, CoinSpot is an excellent choice for crypto newcomers looking to build the foundations of a portfolio.
Coinspot charges relatively high “instant buy” fees (1%) and spreads reportedly range between 1-4%.
Spot market fees are 0.1%, while bank transfer deposits/withdrawals made in AUD are free.
CoinSpot comparison guide
Bybit was founded in 2018 by experienced trader and broker Ben Zhou. The platform aimed to bring advanced trading tools to the young and underdeveloped crypto market. For years, investing in crypto was limited to simply buying, selling and swapping digital currencies. Bybit was one of the first platforms to offer its customers a wide range of crypto derivatives, who can trade them with up to 100x leverage. Bybit is not registered with AUSTRAC, meaning Australian customers cannot directly deposit AUD.
0.1%
Cryptocurrency: Free (although standard network fees will apply)
Cryptocurrency: Free (although standard network fees will apply)
150+
Dubai
0
Bybit is one of the most popular exchanges in the industry for advanced investors. The platform comes with several in-depth trading tools, including customisable charts, a copy trading mechanism and derivatives for most major digital currencies. Investors can also add stop-loss or take-profit triggers to their orders, vital for minimising risk when trading with leverage.
Bybit is also packed with useful features, security measures and a pretty well-received smartphone application. The major pitfall of the platform is two-pronged – fiat deposits aren’t directly handled by the Bybit exchange, meaning investors expose themselves to third-party fees and risks. On top of this, the massive range of features and trading options makes Bybit better suited for more experienced traders.
CoinJar is Australia’s longest-running crypto exchange, with the platform bursting onto the scene over a decade ago in 2013. The team has helped over 600,000 Australians begin building their crypto portfolios with all the basics – Bitcoin, Ethereum and Litecoin. The platform is AUSTRAC registered and adheres to all regulatory requirements. In its years operating in Australia, CoinJar has built a reputation as a trustworthy and secure exchange perfect for beginners and intermediate investors.
1% instant spot orders
2% Instant Buy (via card)
0.1% exchange orders
PayID: Free
Bank transfer: Free
SEPA deposit: Free
Free
60+
Melbourne
4
CoinJar offers a smaller list of crypto assets than most modern-day competitors, but this is not necessarily a bad thing. It is a simple, beginner-friendly platform that doesn’t tend to bother with speculative altcoins. Customers can choose from the basic CoinJar platform (perfect for getting started) or the dedicated CoinJar exchange (excellent for intermediate traders).
The main CoinJar platform can get a little pricey – with spot trading fees a flat 1% – but is still a convenient option for a no-frills trading experience. The CoinJar exchange has an appealing fee structure, with costs as low as 0.02% per trade. However, the exchange may struggle with liquidity for high-volume traders compared to international alternatives.
CoinJar prides itself on being a streamlined, easily accessible crypto exchange. This means it has done away with many features seen in modern trading platforms. With that said, there is still plenty for investors of all skill levels:
CoinJar review
Independent Reserve is a long-standing exchange that has cemented itself in the Australian crypto industry. The company was founded in 2013 by Adam Tepper and Adrian Przelozny as part of the first-wave of Australian crypto platforms. The exchange only supports a handful of digital currencies, but balances this with strong customer support and advanced trading options.
0.02-0.5%
Bank transfer: Free for deposits of $100+
$0.99 charge for deposits under $100
Debit and credit cards: 1%
PayPal: 1%
Bank transfer: Free
PayID/Osko/Instant withdrawal: $1.50
30
Sydney
4
Independent Reserve is a clean, modern crypto trading platform ideal for higher-net-worth or institutional investors. The platform caters heavily to those who trade professionally or frequently. For example, the base trading fee (0.5%) can be reduced to 0.02% for accounts that trade more than 200 million AUD monthly.
The lack of cryptocurrencies available may be off-putting to more speculative investors, but the kind of customer Independent Reserve attracts likely only wants to trade a select few digital assets anyway. Advanced traders will also enjoy the multitude of deposit options, leveraged trading (up to 2x) and Independent Reserve’s integration with the KPMG tax estimator.
The Independent Reserve platform offers a modern, cutting-edge trading interface without the clutter found when using some competitors. There’s admittedly less on Independent Reserve for the casual investor. Still, businesses, institutions and high-net-worth individuals should enjoy the advantages offered by the long-running Australian exchange.
Independent Reserve review
Opening a crypto exchange account for the first time can be a little intimidating. However, most modern platforms have straightforward sign-up processes that takes less than ten minutes to complete. The most difficult element of registering on a crypto trading platform is verifying the new account, which usually requires government-issued identification like a passport or driver’s license.
To assist newcomers, here is a step-by-step guide to opening an exchange account using Swyftx as an example:
First, head to the exchange homepage being used. Most landing sites will make it extremely easy to begin the registration process – select “Sign up”, “Create an Account” or any other prompt given by the platform. On Swyftx, we can click “Signup” or “Start Trading”.
Next, we must enter relevant details to create a crypto exchange account. This typically includes email, country of residence, full name and a mobile number. Fill in the form accurately and move on to the next step. Ensure you have access to the quoted mobile and email address, as most platforms require these contact methods to be verified.
Verify the mobile number and email address entered using a unique six-digit code.
Finally, create a secure password to keep the account safe. Some platforms (such as Swyftx) will require passwords to contain unique characters like numbers, capital letters and so on.
Select “Create” and that’s it – the account is ready to rock and roll.
Although we now have an account that can browse our exchange of choice, we must still pass KYC protocols before depositing AUD and trading. Most platforms will automatically prompt new users to complete verification. If not, the process can be started via “Account Settings” or a similar tab.
To get started, new accounts need a form of government-issued identification. They may also need to take a selfie or sometimes even record a short video. Completing this process via a smartphone is much easier than a desktop browser. Follow the on-screen instructions and submit all required images and videos.
Most exchanges automatically verify new users, so the account should be ready to trade within five minutes if everything checks out. In some circumstances, the new account must undergo manual verification. This can take 24-72 hours, so some patience is required.
Either way, users can deposit AUD and begin trading their favourite cryptocurrencies once the account is fully verified.
Perhaps the hardest part of starting the crypto investment journey is choosing a trading platform that suits your needs. While the platforms noted on this list are all excellent options, what might work for one investor might be a poor choice for another. That’s why several factors are worth considering before choosing the best crypto exchange for you.
Australians should always consider using an Australian-based exchange – at least while starting out. There are many advantages to using a local exchange. For starters, they must abide by Australian financial regulations. Australian businesses also offer more relevant (and free!) deposit options (PayID/Osko, for example), operate in the same timezone and tend to have locally-based customer support.
On the other hand, more experienced traders may want to actually consider an exchange outside of Australia. This is because the nation is a relatively small market, and higher net-worth orders may suffer from poor liquidity and high spreads. Additionally, overseas platforms typically have better support for derivatives and margin trading.
A crypto exchange’s reputation is extremely important. A good resource to use is Trustpilot or Productreview, where independent customers give a rating out of five to various businesses and their associated customer support. New investors should also look at the customer service options available. Exchanges that offer 24/7 support, live chat or a mobile hotline are often preferable to those lacking these options.
These reviews give insight into the most trusted crypto exchanges in Australia.
Hacks and exchange attacks are slowly becoming a thing of the past for the crypto industry, but they are still a real threat for now. Australian exchanges are often innately more secure than international exchanges due to their lower turnover – making them less of a target. Other security metrics to consider include:
Beginner investors likely only need a few cryptocurrencies to start building their portfolios. Nearly every major exchange supports a wide enough range to get their customers started. However, experienced traders interested in more obscure altcoins should always double-check each platform’s listed coins. For example, it wouldn’t make much sense for an investor who wants to purchase SUI to sign up for an exchange that doesn’t offer it.
Platforms that do not accept AUD can pose a major inconvenience to investors – especially newcomers to the crypto scene. These exchanges should be avoided by those who want to take a backseat on their investment voyage.
Additionally, certain platforms may offer unique and appealing payment options. An exchange that allows investors to buy crypto with debit/credit card, PayPal or cash could be an advantage over a competitor that only supports bank transfers.
Fees are rightfully one of an investor’s biggest considerations before selecting a crypto exchange. For some traders, a fee difference of just 0.01% can be the difference between turning a profit and making a loss. While most platforms are fairly transparent with their trading fees, investors should always investigate spreads – the difference between an asset’s buy and sell price. These “hidden fees” can easily make a seemingly cost-effective exchange rather expensive.
Crypto regulation still sits in a grey area, but there are still important government protocols for exchanges to follow. Most of these rules act in the consumer’s best interest, so it’s a good idea for beginners to stick to exchanges registered with their local financial authority. For Australian operating platforms, this is AUSTRAC.
There are several high-quality exchanges in Australia for crypto enthusiasts to choose from. The “best exchange” will be one that suits each investor’s personal financial goals. Swyftx, Independent Reserve, OKX Australia, CoinSpot and CoinJar are all solid options.
Very few Australian exchanges have encountered major issues with liquidity or security. However, very few have acquired ISO27001 Certification, the industry standard for information security – including Swyftx, CoinSpot and Independent Reserve.
Swyftx has the highest Trustpilot score of Australian exchanges, with an excellent rating of 4.7/5. Other high-scoring local trading platforms include CoinSpot (4.4), CoinJar (4.1) and Coinstash (4.5).
International heavy-hitters Binance and Bybit have some of the lowest fees on the market. High-volume traders can see fees as low as 0.075%. For Australian exchanges, Swyftx reportedly has the lowest spreads, while Independent Reserve and Coinjar offer the lowest fees for institutional investors.
Performing due diligence on an exchange and the development team behind the company is a great way to ensure the exchange is trustworthy. However, the only way to truly avoid counterparty risk is to eliminate it altogether. Long-term investors should consider moving at least some of their crypto assets off an exchange and into a non-custodial wallet.
Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news.
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Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. Crypto News Australia is a news service that adheres to its Editorial Policy. Crypto News Australia are a subsidiary of Swyftx Pty Ltd, which operates a cryptocurrency exchange in Australia and New Zealand. Our website is purely informational and provides news about cryptocurrency & blockchain. The information on Crypto News Australia should not be taken as financial advice, investment advice or a personal recommendation. Buying and trading cryptocurrencies is a high-risk activity. Please do your own due diligence before making any investment decisions. We are not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on this or any affiliated website.
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Deposit fees for all cryptocurrencies are free, while withdrawal fees vary. Withdrawing USDT and ETH incurs a cost of approximately AUD $0.75, while BTC costs around $1.65 per withdrawal.
Gate.io review
Created by Brian Armstrong in 2012, Coinbase is one of the United States’ oldest and most popular cryptocurrency exchanges. The platform is renowned for its excellent user interface, wide range of useful features and superb security measures. Coinbase also manages one of the industry’s leading smartphone apps, which boasts millions of downloads and lets investors manage their crypto portfolios on the go. Coinbase is registered with AUSTRAC and complies with all relevant financial requirements.
PayID: $0
Bank Transfer: $0
Osko: $0
Credit/debit card: 3.99%
0%
200+
San Francisco
20+
Coinbase supports a range of useful features, including:
Coinbase was involved in a lengthy legal battle with the SEC which has stretched several years. The company secured several important rulings throughout 2024, benefitting not just Coinbase but the industry as a whole.
Additionally, Coinbase was selected by 8 of 9 ETH ETF issuers (i.e. BlackRock, Fidelity etc.) as a trusted partner and custodian through it’s newly launched Coinbase Prime institutional focused platform.
Coinbase also continued development of the popular ETH L2 solution, Base, which has attracted significant attention since its launch in 2023.
OKX is an advanced cryptocurrency exchange with modern trading features perfect for investors on the cutting edge. The platform was founded in 2017 by Star Xu in China, but relocated amid the nation’s crackdown on crypto-related products. OKX is often used to trade derivatives, but also has an in-depth spot market for less experienced crypto traders. Users can choose from hundreds of trading pairs, including all major tokens like BTC, ETH, USDT, etc. OKX Australia is registered with AUSTRAC, entering the nation in 2024.
-0.01 – 0.5%
Bank transfer: Free
Credit/debit card: 3.5-5%
Bank transfer: Free
Crypto: Varies
350+
Victoria, Seychelles
30+
OKX came onto the scene in the late 2010s as OKEx, before officially rebranding to the simpler OKX. This change in style reflects the cryptocurrency exchange’s modus operandi – provide a sleek, clean and modern trading experience. At its heart, OKX is for the more experienced crypto traders, offering impressive features, including bots, copy trading and derivatives trading.
Trading is available with a maximum transaction fee of just 0.5%, which can drop as low as -0.01% for makers, and 0.02% for takers. High-volume traders can see savings in the thousands by using a low-fee platform like OKX over a local but more expensive alternative.
Crypto novices can find a home at OKX, too. Buying Bitcoin or 20+ other major tokens through the platform’s Express buy mode is incredibly easy and convenient. Investors can attach their credit/debit card, or fund their account with a bank deposit, and instantly add new coins to their portfolio.
OKX has moved its way into the Australian market, making it much easier for Aussies to buy prominent digital currencies with AUD.
OKX’s biggest change was the acquisition of an AUSTRAC license, significantly improving the trading experience for Australians on the platform. Aussies can now deposit AUD, among other benefits.
On top of this, OKX added several other features, including:
Crypto.com emerged in 2016 as a Hong Kong-based exchange founded by Bobby Bao, Gary Or, Kris Marszalek and Rafael Melo. After a few formative months, the platform became one of the industry’s most popular trading hubs for new and experienced crypto users. Much of its newfound status came from an intensive and targeted advertising campaign, including partnerships with Matt Damon, the Australian Football League, and purchasing naming rights to Los Angeles’ top sporting stadium.
0-0.075%
Bank transfer: Free
Osko: Free
PayID: Free
Credit/debit card (instant purchase): 3.5%
Apple/Google Pay: 2.99%
None (can vary)
350+
Singapore
30+
Crypto.com is a unique exchange, as it comes with two distinct platforms. The first is the smartphone application, intended for beginners to start building their crypto portfolios. The application offers several basic services, including the ability to instantly buy/sell crypto with a card, earn passive, on-chain income on certain assets, and receive rewards for holding CRO.
The desktop exchange comes with greater flexibility and is intended for more advanced investors. It’s worth noting the Crypto.com exchange is available on both desktop and mobile, whereas the app is exclusive to smartphone devices.
Australians can also benefit from the Crypto.com credit card, which allows them to spend their crypto holdings at EFTPOS machines as though it were fiat currency (like AUD). The card also comes with cashback and subscription promotions, which varies from month to month.
Crypto.com review
Binance launched in 2017 and has quickly catapulted to prominence and now sits as the world’s most popular cryptocurrency platform. Binance regularly leads the industry in terms of trading volume and liquidity. The exchange is renowned for its list of altcoins, features, and international presence. Recently, Binance was debanked by its Australian banking partner, meaning they can no longer accept AUD deposits.
0.1%
Cannot deposit AUD
P2P bank deposit: Free
Cannot withdraw AUD
P2P bank deposit: Free
500+
Caymen Islands
10+
Binance isn’t the oldest exchange in the crypto scene after being founded in 2017 by Changpeng Zhao (CZ). But what the exchange lacks in duration, it makes up for in popularity. Binance is by far the world’s highest-volume cryptocurrency exchange, frequently beating out all competitors in terms of 24-hour trading volume.
The website is renowned for its massive list of features – Binance is more of a decentralised ecosystem than a simple trading platform. Users can trade hundreds of crypto assets, support up-and-coming blockchain projects or mint their own NFTs. Binance’s low fees, industry-leading range of features and immense global liquidity make it a great choice for crypto investors of all skill levels.
Unfortunately, the Binance platform’s efficacy for Australians was harmed significantly in June 2023, when the business stopped supporting AUD deposits and withdrawals. Alongside this development, Binance ceased all trading pairs that used AUD. Major banking institutions such as Westpac had “barred clients from trading on Binance”. At the same time, payment providers PayID also ceased support for transferring AUD to Binance. Earn is similarly no longer available to Australians.
Binance is searching for new suppliers to bridge the gap between Australian customers and the popular trading platform. Until then, access for AUD users will be limited. Australian traders can still benefit from using Binance, however, they now must deposit cryptocurrency, utilise P2P trading or use the rather expensive bank/credit card “instant buy” feature.
Binance is regarded as the industry’s most feature-laden exchange. And for the most part, the platform lives up to this reputation.
Binance review
CoinSpot is Australia’s biggest exchange with over 2.5 million users nationwide. Founded in 2013, CoinSpot is also one of Australia’s oldest and most established exchanges. Similar to Swyftx, the platform takes a beginner-friendly approach with its sleek interface and simple navigation.
1% for instant buy and sell orders
Bank transfer, PayID: None
PayPal: 0.5%
Cash: 2.5%
Card: 1.88%
$0 on AUD withdrawals
2% on PayPal withdrawals
460+
Melbourne, Australia
1
CoinSpot was one of the first cryptocurrency exchanges on the Australian scene. The platform was founded in 2013, and in a decade of operation has built a reputation as a trustworthy and feature-rich exchange. The smooth user interface and easy-to-use buy/sell mechanism make CoinSpot a beginner-targeted exchange, although there’s plenty for intermediate crypto investors too.
The CoinSpot developers have steadily added new features to the site, including an NFT marketplace and crypto bundles. As an Australian-based exchange with an eye to simplicity, CoinSpot is an excellent choice for crypto newcomers looking to build the foundations of a portfolio.
Coinspot charges relatively high “instant buy” fees (1%) and spreads reportedly range between 1-4%.
Spot market fees are 0.1%, while bank transfer deposits/withdrawals made in AUD are free.
CoinSpot comparison guide
Bybit was founded in 2018 by experienced trader and broker Ben Zhou. The platform aimed to bring advanced trading tools to the young and underdeveloped crypto market. For years, investing in crypto was limited to simply buying, selling and swapping digital currencies. Bybit was one of the first platforms to offer its customers a wide range of crypto derivatives, who can trade them with up to 100x leverage. Bybit is not registered with AUSTRAC, meaning Australian customers cannot directly deposit AUD.
0.1%
Cryptocurrency: Free (although standard network fees will apply)
Cryptocurrency: Free (although standard network fees will apply)
150+
Dubai
0
Bybit is one of the most popular exchanges in the industry for advanced investors. The platform comes with several in-depth trading tools, including customisable charts, a copy trading mechanism and derivatives for most major digital currencies. Investors can also add stop-loss or take-profit triggers to their orders, vital for minimising risk when trading with leverage.
Bybit is also packed with useful features, security measures and a pretty well-received smartphone application. The major pitfall of the platform is two-pronged – fiat deposits aren’t directly handled by the Bybit exchange, meaning investors expose themselves to third-party fees and risks. On top of this, the massive range of features and trading options makes Bybit better suited for more experienced traders.
CoinJar is Australia’s longest-running crypto exchange, with the platform bursting onto the scene over a decade ago in 2013. The team has helped over 600,000 Australians begin building their crypto portfolios with all the basics – Bitcoin, Ethereum and Litecoin. The platform is AUSTRAC registered and adheres to all regulatory requirements. In its years operating in Australia, CoinJar has built a reputation as a trustworthy and secure exchange perfect for beginners and intermediate investors.
1% instant spot orders
2% Instant Buy (via card)
0.1% exchange orders
PayID: Free
Bank transfer: Free
SEPA deposit: Free
Free
60+
Melbourne
4
CoinJar offers a smaller list of crypto assets than most modern-day competitors, but this is not necessarily a bad thing. It is a simple, beginner-friendly platform that doesn’t tend to bother with speculative altcoins. Customers can choose from the basic CoinJar platform (perfect for getting started) or the dedicated CoinJar exchange (excellent for intermediate traders).
The main CoinJar platform can get a little pricey – with spot trading fees a flat 1% – but is still a convenient option for a no-frills trading experience. The CoinJar exchange has an appealing fee structure, with costs as low as 0.02% per trade. However, the exchange may struggle with liquidity for high-volume traders compared to international alternatives.
CoinJar prides itself on being a streamlined, easily accessible crypto exchange. This means it has done away with many features seen in modern trading platforms. With that said, there is still plenty for investors of all skill levels:
CoinJar review
Independent Reserve is a long-standing exchange that has cemented itself in the Australian crypto industry. The company was founded in 2013 by Adam Tepper and Adrian Przelozny as part of the first-wave of Australian crypto platforms. The exchange only supports a handful of digital currencies, but balances this with strong customer support and advanced trading options.
0.02-0.5%
Bank transfer: Free for deposits of $100+
$0.99 charge for deposits under $100
Debit and credit cards: 1%
PayPal: 1%
Bank transfer: Free
PayID/Osko/Instant withdrawal: $1.50
30
Sydney
4
Independent Reserve is a clean, modern crypto trading platform ideal for higher-net-worth or institutional investors. The platform caters heavily to those who trade professionally or frequently. For example, the base trading fee (0.5%) can be reduced to 0.02% for accounts that trade more than 200 million AUD monthly.
The lack of cryptocurrencies available may be off-putting to more speculative investors, but the kind of customer Independent Reserve attracts likely only wants to trade a select few digital assets anyway. Advanced traders will also enjoy the multitude of deposit options, leveraged trading (up to 2x) and Independent Reserve’s integration with the KPMG tax estimator.
The Independent Reserve platform offers a modern, cutting-edge trading interface without the clutter found when using some competitors. There’s admittedly less on Independent Reserve for the casual investor. Still, businesses, institutions and high-net-worth individuals should enjoy the advantages offered by the long-running Australian exchange.
Independent Reserve review
Opening a crypto exchange account for the first time can be a little intimidating. However, most modern platforms have straightforward sign-up processes that takes less than ten minutes to complete. The most difficult element of registering on a crypto trading platform is verifying the new account, which usually requires government-issued identification like a passport or driver’s license.
To assist newcomers, here is a step-by-step guide to opening an exchange account using Swyftx as an example:
First, head to the exchange homepage being used. Most landing sites will make it extremely easy to begin the registration process – select “Sign up”, “Create an Account” or any other prompt given by the platform. On Swyftx, we can click “Signup” or “Start Trading”.
Next, we must enter relevant details to create a crypto exchange account. This typically includes email, country of residence, full name and a mobile number. Fill in the form accurately and move on to the next step. Ensure you have access to the quoted mobile and email address, as most platforms require these contact methods to be verified.
Verify the mobile number and email address entered using a unique six-digit code.
Finally, create a secure password to keep the account safe. Some platforms (such as Swyftx) will require passwords to contain unique characters like numbers, capital letters and so on.
Select “Create” and that’s it – the account is ready to rock and roll.
Although we now have an account that can browse our exchange of choice, we must still pass KYC protocols before depositing AUD and trading. Most platforms will automatically prompt new users to complete verification. If not, the process can be started via “Account Settings” or a similar tab.
To get started, new accounts need a form of government-issued identification. They may also need to take a selfie or sometimes even record a short video. Completing this process via a smartphone is much easier than a desktop browser. Follow the on-screen instructions and submit all required images and videos.
Most exchanges automatically verify new users, so the account should be ready to trade within five minutes if everything checks out. In some circumstances, the new account must undergo manual verification. This can take 24-72 hours, so some patience is required.
Either way, users can deposit AUD and begin trading their favourite cryptocurrencies once the account is fully verified.
Perhaps the hardest part of starting the crypto investment journey is choosing a trading platform that suits your needs. While the platforms noted on this list are all excellent options, what might work for one investor might be a poor choice for another. That’s why several factors are worth considering before choosing the best crypto exchange for you.
Australians should always consider using an Australian-based exchange – at least while starting out. There are many advantages to using a local exchange. For starters, they must abide by Australian financial regulations. Australian businesses also offer more relevant (and free!) deposit options (PayID/Osko, for example), operate in the same timezone and tend to have locally-based customer support.
On the other hand, more experienced traders may want to actually consider an exchange outside of Australia. This is because the nation is a relatively small market, and higher net-worth orders may suffer from poor liquidity and high spreads. Additionally, overseas platforms typically have better support for derivatives and margin trading.
A crypto exchange’s reputation is extremely important. A good resource to use is Trustpilot or Productreview, where independent customers give a rating out of five to various businesses and their associated customer support. New investors should also look at the customer service options available. Exchanges that offer 24/7 support, live chat or a mobile hotline are often preferable to those lacking these options.
These reviews give insight into the most trusted crypto exchanges in Australia.
Hacks and exchange attacks are slowly becoming a thing of the past for the crypto industry, but they are still a real threat for now. Australian exchanges are often innately more secure than international exchanges due to their lower turnover – making them less of a target. Other security metrics to consider include:
Beginner investors likely only need a few cryptocurrencies to start building their portfolios. Nearly every major exchange supports a wide enough range to get their customers started. However, experienced traders interested in more obscure altcoins should always double-check each platform’s listed coins. For example, it wouldn’t make much sense for an investor who wants to purchase SUI to sign up for an exchange that doesn’t offer it.
Platforms that do not accept AUD can pose a major inconvenience to investors – especially newcomers to the crypto scene. These exchanges should be avoided by those who want to take a backseat on their investment voyage.
Additionally, certain platforms may offer unique and appealing payment options. An exchange that allows investors to buy crypto with debit/credit card, PayPal or cash could be an advantage over a competitor that only supports bank transfers.
Fees are rightfully one of an investor’s biggest considerations before selecting a crypto exchange. For some traders, a fee difference of just 0.01% can be the difference between turning a profit and making a loss. While most platforms are fairly transparent with their trading fees, investors should always investigate spreads – the difference between an asset’s buy and sell price. These “hidden fees” can easily make a seemingly cost-effective exchange rather expensive.
Crypto regulation still sits in a grey area, but there are still important government protocols for exchanges to follow. Most of these rules act in the consumer’s best interest, so it’s a good idea for beginners to stick to exchanges registered with their local financial authority. For Australian operating platforms, this is AUSTRAC.
There are several high-quality exchanges in Australia for crypto enthusiasts to choose from. The “best exchange” will be one that suits each investor’s personal financial goals. Swyftx, Independent Reserve, OKX Australia, CoinSpot and CoinJar are all solid options.
Very few Australian exchanges have encountered major issues with liquidity or security. However, very few have acquired ISO27001 Certification, the industry standard for information security – including Swyftx, CoinSpot and Independent Reserve.
Swyftx has the highest Trustpilot score of Australian exchanges, with an excellent rating of 4.7/5. Other high-scoring local trading platforms include CoinSpot (4.4), CoinJar (4.1) and Coinstash (4.5).
International heavy-hitters Binance and Bybit have some of the lowest fees on the market. High-volume traders can see fees as low as 0.075%. For Australian exchanges, Swyftx reportedly has the lowest spreads, while Independent Reserve and Coinjar offer the lowest fees for institutional investors.
Performing due diligence on an exchange and the development team behind the company is a great way to ensure the exchange is trustworthy. However, the only way to truly avoid counterparty risk is to eliminate it altogether. Long-term investors should consider moving at least some of their crypto assets off an exchange and into a non-custodial wallet.
Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news.
Guides
Reviews
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. Crypto News Australia is a news service that adheres to its Editorial Policy. Crypto News Australia are a subsidiary of Swyftx Pty Ltd, which operates a cryptocurrency exchange in Australia and New Zealand. Our website is purely informational and provides news about cryptocurrency & blockchain. The information on Crypto News Australia should not be taken as financial advice, investment advice or a personal recommendation. Buying and trading cryptocurrencies is a high-risk activity. Please do your own due diligence before making any investment decisions. We are not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on this or any affiliated website.
Copyright © 2023 Crypto News Australia
source
Deposit fees for all cryptocurrencies are free, while withdrawal fees vary. Withdrawing USDT and ETH incurs a cost of approximately AUD $0.75, while BTC costs around $1.65 per withdrawal.
Gate.io review
Created by Brian Armstrong in 2012, Coinbase is one of the United States’ oldest and most popular cryptocurrency exchanges. The platform is renowned for its excellent user interface, wide range of useful features and superb security measures. Coinbase also manages one of the industry’s leading smartphone apps, which boasts millions of downloads and lets investors manage their crypto portfolios on the go. Coinbase is registered with AUSTRAC and complies with all relevant financial requirements.
PayID: $0
Bank Transfer: $0
Osko: $0
Credit/debit card: 3.99%
0%
200+
San Francisco
20+
Coinbase supports a range of useful features, including:
Coinbase was involved in a lengthy legal battle with the SEC which has stretched several years. The company secured several important rulings throughout 2024, benefitting not just Coinbase but the industry as a whole.
Additionally, Coinbase was selected by 8 of 9 ETH ETF issuers (i.e. BlackRock, Fidelity etc.) as a trusted partner and custodian through it’s newly launched Coinbase Prime institutional focused platform.
Coinbase also continued development of the popular ETH L2 solution, Base, which has attracted significant attention since its launch in 2023.
OKX is an advanced cryptocurrency exchange with modern trading features perfect for investors on the cutting edge. The platform was founded in 2017 by Star Xu in China, but relocated amid the nation’s crackdown on crypto-related products. OKX is often used to trade derivatives, but also has an in-depth spot market for less experienced crypto traders. Users can choose from hundreds of trading pairs, including all major tokens like BTC, ETH, USDT, etc. OKX Australia is registered with AUSTRAC, entering the nation in 2024.
-0.01 – 0.5%
Bank transfer: Free
Credit/debit card: 3.5-5%
Bank transfer: Free
Crypto: Varies
350+
Victoria, Seychelles
30+
OKX came onto the scene in the late 2010s as OKEx, before officially rebranding to the simpler OKX. This change in style reflects the cryptocurrency exchange’s modus operandi – provide a sleek, clean and modern trading experience. At its heart, OKX is for the more experienced crypto traders, offering impressive features, including bots, copy trading and derivatives trading.
Trading is available with a maximum transaction fee of just 0.5%, which can drop as low as -0.01% for makers, and 0.02% for takers. High-volume traders can see savings in the thousands by using a low-fee platform like OKX over a local but more expensive alternative.
Crypto novices can find a home at OKX, too. Buying Bitcoin or 20+ other major tokens through the platform’s Express buy mode is incredibly easy and convenient. Investors can attach their credit/debit card, or fund their account with a bank deposit, and instantly add new coins to their portfolio.
OKX has moved its way into the Australian market, making it much easier for Aussies to buy prominent digital currencies with AUD.
OKX’s biggest change was the acquisition of an AUSTRAC license, significantly improving the trading experience for Australians on the platform. Aussies can now deposit AUD, among other benefits.
On top of this, OKX added several other features, including:
Crypto.com emerged in 2016 as a Hong Kong-based exchange founded by Bobby Bao, Gary Or, Kris Marszalek and Rafael Melo. After a few formative months, the platform became one of the industry’s most popular trading hubs for new and experienced crypto users. Much of its newfound status came from an intensive and targeted advertising campaign, including partnerships with Matt Damon, the Australian Football League, and purchasing naming rights to Los Angeles’ top sporting stadium.
0-0.075%
Bank transfer: Free
Osko: Free
PayID: Free
Credit/debit card (instant purchase): 3.5%
Apple/Google Pay: 2.99%
None (can vary)
350+
Singapore
30+
Crypto.com is a unique exchange, as it comes with two distinct platforms. The first is the smartphone application, intended for beginners to start building their crypto portfolios. The application offers several basic services, including the ability to instantly buy/sell crypto with a card, earn passive, on-chain income on certain assets, and receive rewards for holding CRO.
The desktop exchange comes with greater flexibility and is intended for more advanced investors. It’s worth noting the Crypto.com exchange is available on both desktop and mobile, whereas the app is exclusive to smartphone devices.
Australians can also benefit from the Crypto.com credit card, which allows them to spend their crypto holdings at EFTPOS machines as though it were fiat currency (like AUD). The card also comes with cashback and subscription promotions, which varies from month to month.
Crypto.com review
Binance launched in 2017 and has quickly catapulted to prominence and now sits as the world’s most popular cryptocurrency platform. Binance regularly leads the industry in terms of trading volume and liquidity. The exchange is renowned for its list of altcoins, features, and international presence. Recently, Binance was debanked by its Australian banking partner, meaning they can no longer accept AUD deposits.
0.1%
Cannot deposit AUD
P2P bank deposit: Free
Cannot withdraw AUD
P2P bank deposit: Free
500+
Caymen Islands
10+
Binance isn’t the oldest exchange in the crypto scene after being founded in 2017 by Changpeng Zhao (CZ). But what the exchange lacks in duration, it makes up for in popularity. Binance is by far the world’s highest-volume cryptocurrency exchange, frequently beating out all competitors in terms of 24-hour trading volume.
The website is renowned for its massive list of features – Binance is more of a decentralised ecosystem than a simple trading platform. Users can trade hundreds of crypto assets, support up-and-coming blockchain projects or mint their own NFTs. Binance’s low fees, industry-leading range of features and immense global liquidity make it a great choice for crypto investors of all skill levels.
Unfortunately, the Binance platform’s efficacy for Australians was harmed significantly in June 2023, when the business stopped supporting AUD deposits and withdrawals. Alongside this development, Binance ceased all trading pairs that used AUD. Major banking institutions such as Westpac had “barred clients from trading on Binance”. At the same time, payment providers PayID also ceased support for transferring AUD to Binance. Earn is similarly no longer available to Australians.
Binance is searching for new suppliers to bridge the gap between Australian customers and the popular trading platform. Until then, access for AUD users will be limited. Australian traders can still benefit from using Binance, however, they now must deposit cryptocurrency, utilise P2P trading or use the rather expensive bank/credit card “instant buy” feature.
Binance is regarded as the industry’s most feature-laden exchange. And for the most part, the platform lives up to this reputation.
Binance review
CoinSpot is Australia’s biggest exchange with over 2.5 million users nationwide. Founded in 2013, CoinSpot is also one of Australia’s oldest and most established exchanges. Similar to Swyftx, the platform takes a beginner-friendly approach with its sleek interface and simple navigation.
1% for instant buy and sell orders
Bank transfer, PayID: None
PayPal: 0.5%
Cash: 2.5%
Card: 1.88%
$0 on AUD withdrawals
2% on PayPal withdrawals
460+
Melbourne, Australia
1
CoinSpot was one of the first cryptocurrency exchanges on the Australian scene. The platform was founded in 2013, and in a decade of operation has built a reputation as a trustworthy and feature-rich exchange. The smooth user interface and easy-to-use buy/sell mechanism make CoinSpot a beginner-targeted exchange, although there’s plenty for intermediate crypto investors too.
The CoinSpot developers have steadily added new features to the site, including an NFT marketplace and crypto bundles. As an Australian-based exchange with an eye to simplicity, CoinSpot is an excellent choice for crypto newcomers looking to build the foundations of a portfolio.
Coinspot charges relatively high “instant buy” fees (1%) and spreads reportedly range between 1-4%.
Spot market fees are 0.1%, while bank transfer deposits/withdrawals made in AUD are free.
CoinSpot comparison guide
Bybit was founded in 2018 by experienced trader and broker Ben Zhou. The platform aimed to bring advanced trading tools to the young and underdeveloped crypto market. For years, investing in crypto was limited to simply buying, selling and swapping digital currencies. Bybit was one of the first platforms to offer its customers a wide range of crypto derivatives, who can trade them with up to 100x leverage. Bybit is not registered with AUSTRAC, meaning Australian customers cannot directly deposit AUD.
0.1%
Cryptocurrency: Free (although standard network fees will apply)
Cryptocurrency: Free (although standard network fees will apply)
150+
Dubai
0
Bybit is one of the most popular exchanges in the industry for advanced investors. The platform comes with several in-depth trading tools, including customisable charts, a copy trading mechanism and derivatives for most major digital currencies. Investors can also add stop-loss or take-profit triggers to their orders, vital for minimising risk when trading with leverage.
Bybit is also packed with useful features, security measures and a pretty well-received smartphone application. The major pitfall of the platform is two-pronged – fiat deposits aren’t directly handled by the Bybit exchange, meaning investors expose themselves to third-party fees and risks. On top of this, the massive range of features and trading options makes Bybit better suited for more experienced traders.
CoinJar is Australia’s longest-running crypto exchange, with the platform bursting onto the scene over a decade ago in 2013. The team has helped over 600,000 Australians begin building their crypto portfolios with all the basics – Bitcoin, Ethereum and Litecoin. The platform is AUSTRAC registered and adheres to all regulatory requirements. In its years operating in Australia, CoinJar has built a reputation as a trustworthy and secure exchange perfect for beginners and intermediate investors.
1% instant spot orders
2% Instant Buy (via card)
0.1% exchange orders
PayID: Free
Bank transfer: Free
SEPA deposit: Free
Free
60+
Melbourne
4
CoinJar offers a smaller list of crypto assets than most modern-day competitors, but this is not necessarily a bad thing. It is a simple, beginner-friendly platform that doesn’t tend to bother with speculative altcoins. Customers can choose from the basic CoinJar platform (perfect for getting started) or the dedicated CoinJar exchange (excellent for intermediate traders).
The main CoinJar platform can get a little pricey – with spot trading fees a flat 1% – but is still a convenient option for a no-frills trading experience. The CoinJar exchange has an appealing fee structure, with costs as low as 0.02% per trade. However, the exchange may struggle with liquidity for high-volume traders compared to international alternatives.
CoinJar prides itself on being a streamlined, easily accessible crypto exchange. This means it has done away with many features seen in modern trading platforms. With that said, there is still plenty for investors of all skill levels:
CoinJar review
Independent Reserve is a long-standing exchange that has cemented itself in the Australian crypto industry. The company was founded in 2013 by Adam Tepper and Adrian Przelozny as part of the first-wave of Australian crypto platforms. The exchange only supports a handful of digital currencies, but balances this with strong customer support and advanced trading options.
0.02-0.5%
Bank transfer: Free for deposits of $100+
$0.99 charge for deposits under $100
Debit and credit cards: 1%
PayPal: 1%
Bank transfer: Free
PayID/Osko/Instant withdrawal: $1.50
30
Sydney
4
Independent Reserve is a clean, modern crypto trading platform ideal for higher-net-worth or institutional investors. The platform caters heavily to those who trade professionally or frequently. For example, the base trading fee (0.5%) can be reduced to 0.02% for accounts that trade more than 200 million AUD monthly.
The lack of cryptocurrencies available may be off-putting to more speculative investors, but the kind of customer Independent Reserve attracts likely only wants to trade a select few digital assets anyway. Advanced traders will also enjoy the multitude of deposit options, leveraged trading (up to 2x) and Independent Reserve’s integration with the KPMG tax estimator.
The Independent Reserve platform offers a modern, cutting-edge trading interface without the clutter found when using some competitors. There’s admittedly less on Independent Reserve for the casual investor. Still, businesses, institutions and high-net-worth individuals should enjoy the advantages offered by the long-running Australian exchange.
Independent Reserve review
Opening a crypto exchange account for the first time can be a little intimidating. However, most modern platforms have straightforward sign-up processes that takes less than ten minutes to complete. The most difficult element of registering on a crypto trading platform is verifying the new account, which usually requires government-issued identification like a passport or driver’s license.
To assist newcomers, here is a step-by-step guide to opening an exchange account using Swyftx as an example:
First, head to the exchange homepage being used. Most landing sites will make it extremely easy to begin the registration process – select “Sign up”, “Create an Account” or any other prompt given by the platform. On Swyftx, we can click “Signup” or “Start Trading”.
Next, we must enter relevant details to create a crypto exchange account. This typically includes email, country of residence, full name and a mobile number. Fill in the form accurately and move on to the next step. Ensure you have access to the quoted mobile and email address, as most platforms require these contact methods to be verified.
Verify the mobile number and email address entered using a unique six-digit code.
Finally, create a secure password to keep the account safe. Some platforms (such as Swyftx) will require passwords to contain unique characters like numbers, capital letters and so on.
Select “Create” and that’s it – the account is ready to rock and roll.
Although we now have an account that can browse our exchange of choice, we must still pass KYC protocols before depositing AUD and trading. Most platforms will automatically prompt new users to complete verification. If not, the process can be started via “Account Settings” or a similar tab.
To get started, new accounts need a form of government-issued identification. They may also need to take a selfie or sometimes even record a short video. Completing this process via a smartphone is much easier than a desktop browser. Follow the on-screen instructions and submit all required images and videos.
Most exchanges automatically verify new users, so the account should be ready to trade within five minutes if everything checks out. In some circumstances, the new account must undergo manual verification. This can take 24-72 hours, so some patience is required.
Either way, users can deposit AUD and begin trading their favourite cryptocurrencies once the account is fully verified.
Perhaps the hardest part of starting the crypto investment journey is choosing a trading platform that suits your needs. While the platforms noted on this list are all excellent options, what might work for one investor might be a poor choice for another. That’s why several factors are worth considering before choosing the best crypto exchange for you.
Australians should always consider using an Australian-based exchange – at least while starting out. There are many advantages to using a local exchange. For starters, they must abide by Australian financial regulations. Australian businesses also offer more relevant (and free!) deposit options (PayID/Osko, for example), operate in the same timezone and tend to have locally-based customer support.
On the other hand, more experienced traders may want to actually consider an exchange outside of Australia. This is because the nation is a relatively small market, and higher net-worth orders may suffer from poor liquidity and high spreads. Additionally, overseas platforms typically have better support for derivatives and margin trading.
A crypto exchange’s reputation is extremely important. A good resource to use is Trustpilot or Productreview, where independent customers give a rating out of five to various businesses and their associated customer support. New investors should also look at the customer service options available. Exchanges that offer 24/7 support, live chat or a mobile hotline are often preferable to those lacking these options.
These reviews give insight into the most trusted crypto exchanges in Australia.
Hacks and exchange attacks are slowly becoming a thing of the past for the crypto industry, but they are still a real threat for now. Australian exchanges are often innately more secure than international exchanges due to their lower turnover – making them less of a target. Other security metrics to consider include:
Beginner investors likely only need a few cryptocurrencies to start building their portfolios. Nearly every major exchange supports a wide enough range to get their customers started. However, experienced traders interested in more obscure altcoins should always double-check each platform’s listed coins. For example, it wouldn’t make much sense for an investor who wants to purchase SUI to sign up for an exchange that doesn’t offer it.
Platforms that do not accept AUD can pose a major inconvenience to investors – especially newcomers to the crypto scene. These exchanges should be avoided by those who want to take a backseat on their investment voyage.
Additionally, certain platforms may offer unique and appealing payment options. An exchange that allows investors to buy crypto with debit/credit card, PayPal or cash could be an advantage over a competitor that only supports bank transfers.
Fees are rightfully one of an investor’s biggest considerations before selecting a crypto exchange. For some traders, a fee difference of just 0.01% can be the difference between turning a profit and making a loss. While most platforms are fairly transparent with their trading fees, investors should always investigate spreads – the difference between an asset’s buy and sell price. These “hidden fees” can easily make a seemingly cost-effective exchange rather expensive.
Crypto regulation still sits in a grey area, but there are still important government protocols for exchanges to follow. Most of these rules act in the consumer’s best interest, so it’s a good idea for beginners to stick to exchanges registered with their local financial authority. For Australian operating platforms, this is AUSTRAC.
There are several high-quality exchanges in Australia for crypto enthusiasts to choose from. The “best exchange” will be one that suits each investor’s personal financial goals. Swyftx, Independent Reserve, OKX Australia, CoinSpot and CoinJar are all solid options.
Very few Australian exchanges have encountered major issues with liquidity or security. However, very few have acquired ISO27001 Certification, the industry standard for information security – including Swyftx, CoinSpot and Independent Reserve.
Swyftx has the highest Trustpilot score of Australian exchanges, with an excellent rating of 4.7/5. Other high-scoring local trading platforms include CoinSpot (4.4), CoinJar (4.1) and Coinstash (4.5).
International heavy-hitters Binance and Bybit have some of the lowest fees on the market. High-volume traders can see fees as low as 0.075%. For Australian exchanges, Swyftx reportedly has the lowest spreads, while Independent Reserve and Coinjar offer the lowest fees for institutional investors.
Performing due diligence on an exchange and the development team behind the company is a great way to ensure the exchange is trustworthy. However, the only way to truly avoid counterparty risk is to eliminate it altogether. Long-term investors should consider moving at least some of their crypto assets off an exchange and into a non-custodial wallet.
Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news.
Guides
Reviews
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. Crypto News Australia is a news service that adheres to its Editorial Policy. Crypto News Australia are a subsidiary of Swyftx Pty Ltd, which operates a cryptocurrency exchange in Australia and New Zealand. Our website is purely informational and provides news about cryptocurrency & blockchain. The information on Crypto News Australia should not be taken as financial advice, investment advice or a personal recommendation. Buying and trading cryptocurrencies is a high-risk activity. Please do your own due diligence before making any investment decisions. We are not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on this or any affiliated website.
Copyright © 2023 Crypto News Australia
sourceIn 2025, there are many options for Aussies looking for an easy-to-use, secure and trusted crypto exchange.
Swyftx is our pick for the best crypto exchange in Australia. The platform pairs competitive trading fees with ISO27001 certification and excellent customer support renowned among the crypto community.
Coinspot, Coinjar and Independent Reserve are all great Australian options, while international exchanges like Gate.io, Binance and Bybit offer low trading fees and a significant list of features.
Swyftx is an Australian-based crypto exchange that launched in 2018. Founded by Alex Harper and Angus Goldman, the trading platform has seen massive growth over the last couple of years and has built a 700,000+ strong customer base. It’s considered a beginner-centric exchange due to its easy-to-navigate interface, great learning resources and features like demo mode. However, experienced investors can benefit from its features and competitive fees too.
0.1-0.6%
Bank transfer: Free
PayID: Free
Credit card: 1.99%
Free
440+
Brisbane, Australia
3
Swyftx offers a base transaction fee of just 0.6%. The exchange has also introduced a tiered trading fee, meaning high-volume traders can benefit from fees as low as 0.1%.
Swyftx is also transparent with its spreads, which range between 0.2 and 0.8%. Most competitors – especially in the Australian market – do not disclose their spreads, and investors can easily incur fees of over 2% per trade without even knowing it.
Swyftx is registered with the Australian regulatory body AUSTRAC. This means they abide by all national financial frameworks, including KYC and AML policies. The company also supports advanced security measures such as 2-Factor Authentification (2FA) and breached password detection.
Swyftx has also achieved ISO27001 certification, the industry-leading standard for information security management.
Swyftx had a successful 2024, introducing tiered trading fees, where users can reduce their fees to as low as 0.1% based on their monthly trading volume.
They also launched their own TV ad campaign titled “The Joy of Financial Freedom.” The campaign highlights various Australians and how they choose to live their lives with financial freedom.
Swyftx review
Gate.io is one of the world’s biggest cryptocurrency exchanges, packed to the brim with advanced trading features and earning opportunities. The platform has been operational for over a decade after being founded in China in 2013 and has helped 20M+ people build their digital currency portfolios. As a primarily crypto-to-crypto exchange, Gate.io is renowned among the community for perhaps the largest list of supported altcoins on the market.
0-0.1%
Crypto: None
Third-party fiat deposit: Varies between 1-5%
Varies
3300+
Cayman Islands
15
Important: You cannot deposit AUD into Gate.io. To do this you will need to use an Australian exchange like Swyftx to onboard AUD and then purchase an asset like BTC or USDT to then send to your Gate.io wallet.
Gate.io is one of the crypto industry’s longest-running exchanges, serving millions of customers since its creation over a decade ago. The platform is a popular choice for professional traders due to its low fees and advanced features – Gate.io often sees AUD $10B+ in 24-hour trading volume.
Gate.io is flush with features, including ample earning opportunities, a new project launchpad and even social media elements. Experienced customers can take advantage of a modern trading interface with TradingView integration and order book depth, while beginners will enjoy the “Express Buy” function.
A huge appeal of Gate.io is its massive list of cryptocurrencies, with 3,000 and counting currently available for trade. While investors on competing platforms often have to wait months (sometimes years!) for obscure altcoins to be listed, Gate.io customers can often access new tokens before they’ve pumped beyond reach.
Gate.io’s fees vary depending on what asset you’re using, your trading volume and more.
Accounts with minimal trading volume and asset value can trade on the spot market for 0.1% per transaction. This fee can fall as low as 0% for high-net-worth individuals on Gate.io.
Deposit fees for all cryptocurrencies are free, while withdrawal fees vary. Withdrawing USDT and ETH incurs a cost of approximately AUD $0.75, while BTC costs around $1.65 per withdrawal.
Gate.io review
Created by Brian Armstrong in 2012, Coinbase is one of the United States’ oldest and most popular cryptocurrency exchanges. The platform is renowned for its excellent user interface, wide range of useful features and superb security measures. Coinbase also manages one of the industry’s leading smartphone apps, which boasts millions of downloads and lets investors manage their crypto portfolios on the go. Coinbase is registered with AUSTRAC and complies with all relevant financial requirements.
PayID: $0
Bank Transfer: $0
Osko: $0
Credit/debit card: 3.99%
0%
200+
San Francisco
20+
Coinbase supports a range of useful features, including:
Coinbase was involved in a lengthy legal battle with the SEC which has stretched several years. The company secured several important rulings throughout 2024, benefitting not just Coinbase but the industry as a whole.
Additionally, Coinbase was selected by 8 of 9 ETH ETF issuers (i.e. BlackRock, Fidelity etc.) as a trusted partner and custodian through it’s newly launched Coinbase Prime institutional focused platform.
Coinbase also continued development of the popular ETH L2 solution, Base, which has attracted significant attention since its launch in 2023.
OKX is an advanced cryptocurrency exchange with modern trading features perfect for investors on the cutting edge. The platform was founded in 2017 by Star Xu in China, but relocated amid the nation’s crackdown on crypto-related products. OKX is often used to trade derivatives, but also has an in-depth spot market for less experienced crypto traders. Users can choose from hundreds of trading pairs, including all major tokens like BTC, ETH, USDT, etc. OKX Australia is registered with AUSTRAC, entering the nation in 2024.
-0.01 – 0.5%
Bank transfer: Free
Credit/debit card: 3.5-5%
Bank transfer: Free
Crypto: Varies
350+
Victoria, Seychelles
30+
OKX came onto the scene in the late 2010s as OKEx, before officially rebranding to the simpler OKX. This change in style reflects the cryptocurrency exchange’s modus operandi – provide a sleek, clean and modern trading experience. At its heart, OKX is for the more experienced crypto traders, offering impressive features, including bots, copy trading and derivatives trading.
Trading is available with a maximum transaction fee of just 0.5%, which can drop as low as -0.01% for makers, and 0.02% for takers. High-volume traders can see savings in the thousands by using a low-fee platform like OKX over a local but more expensive alternative.
Crypto novices can find a home at OKX, too. Buying Bitcoin or 20+ other major tokens through the platform’s Express buy mode is incredibly easy and convenient. Investors can attach their credit/debit card, or fund their account with a bank deposit, and instantly add new coins to their portfolio.
OKX has moved its way into the Australian market, making it much easier for Aussies to buy prominent digital currencies with AUD.
OKX’s biggest change was the acquisition of an AUSTRAC license, significantly improving the trading experience for Australians on the platform. Aussies can now deposit AUD, among other benefits.
On top of this, OKX added several other features, including:
Crypto.com emerged in 2016 as a Hong Kong-based exchange founded by Bobby Bao, Gary Or, Kris Marszalek and Rafael Melo. After a few formative months, the platform became one of the industry’s most popular trading hubs for new and experienced crypto users. Much of its newfound status came from an intensive and targeted advertising campaign, including partnerships with Matt Damon, the Australian Football League, and purchasing naming rights to Los Angeles’ top sporting stadium.
0-0.075%
Bank transfer: Free
Osko: Free
PayID: Free
Credit/debit card (instant purchase): 3.5%
Apple/Google Pay: 2.99%
None (can vary)
350+
Singapore
30+
Crypto.com is a unique exchange, as it comes with two distinct platforms. The first is the smartphone application, intended for beginners to start building their crypto portfolios. The application offers several basic services, including the ability to instantly buy/sell crypto with a card, earn passive, on-chain income on certain assets, and receive rewards for holding CRO.
The desktop exchange comes with greater flexibility and is intended for more advanced investors. It’s worth noting the Crypto.com exchange is available on both desktop and mobile, whereas the app is exclusive to smartphone devices.
Australians can also benefit from the Crypto.com credit card, which allows them to spend their crypto holdings at EFTPOS machines as though it were fiat currency (like AUD). The card also comes with cashback and subscription promotions, which varies from month to month.
Crypto.com review
Binance launched in 2017 and has quickly catapulted to prominence and now sits as the world’s most popular cryptocurrency platform. Binance regularly leads the industry in terms of trading volume and liquidity. The exchange is renowned for its list of altcoins, features, and international presence. Recently, Binance was debanked by its Australian banking partner, meaning they can no longer accept AUD deposits.
0.1%
Cannot deposit AUD
P2P bank deposit: Free
Cannot withdraw AUD
P2P bank deposit: Free
500+
Caymen Islands
10+
Binance isn’t the oldest exchange in the crypto scene after being founded in 2017 by Changpeng Zhao (CZ). But what the exchange lacks in duration, it makes up for in popularity. Binance is by far the world’s highest-volume cryptocurrency exchange, frequently beating out all competitors in terms of 24-hour trading volume.
The website is renowned for its massive list of features – Binance is more of a decentralised ecosystem than a simple trading platform. Users can trade hundreds of crypto assets, support up-and-coming blockchain projects or mint their own NFTs. Binance’s low fees, industry-leading range of features and immense global liquidity make it a great choice for crypto investors of all skill levels.
Unfortunately, the Binance platform’s efficacy for Australians was harmed significantly in June 2023, when the business stopped supporting AUD deposits and withdrawals. Alongside this development, Binance ceased all trading pairs that used AUD. Major banking institutions such as Westpac had “barred clients from trading on Binance”. At the same time, payment providers PayID also ceased support for transferring AUD to Binance. Earn is similarly no longer available to Australians.
Binance is searching for new suppliers to bridge the gap between Australian customers and the popular trading platform. Until then, access for AUD users will be limited. Australian traders can still benefit from using Binance, however, they now must deposit cryptocurrency, utilise P2P trading or use the rather expensive bank/credit card “instant buy” feature.
Binance is regarded as the industry’s most feature-laden exchange. And for the most part, the platform lives up to this reputation.
Binance review
CoinSpot is Australia’s biggest exchange with over 2.5 million users nationwide. Founded in 2013, CoinSpot is also one of Australia’s oldest and most established exchanges. Similar to Swyftx, the platform takes a beginner-friendly approach with its sleek interface and simple navigation.
1% for instant buy and sell orders
Bank transfer, PayID: None
PayPal: 0.5%
Cash: 2.5%
Card: 1.88%
$0 on AUD withdrawals
2% on PayPal withdrawals
460+
Melbourne, Australia
1
CoinSpot was one of the first cryptocurrency exchanges on the Australian scene. The platform was founded in 2013, and in a decade of operation has built a reputation as a trustworthy and feature-rich exchange. The smooth user interface and easy-to-use buy/sell mechanism make CoinSpot a beginner-targeted exchange, although there’s plenty for intermediate crypto investors too.
The CoinSpot developers have steadily added new features to the site, including an NFT marketplace and crypto bundles. As an Australian-based exchange with an eye to simplicity, CoinSpot is an excellent choice for crypto newcomers looking to build the foundations of a portfolio.
Coinspot charges relatively high “instant buy” fees (1%) and spreads reportedly range between 1-4%.
Spot market fees are 0.1%, while bank transfer deposits/withdrawals made in AUD are free.
CoinSpot comparison guide
Bybit was founded in 2018 by experienced trader and broker Ben Zhou. The platform aimed to bring advanced trading tools to the young and underdeveloped crypto market. For years, investing in crypto was limited to simply buying, selling and swapping digital currencies. Bybit was one of the first platforms to offer its customers a wide range of crypto derivatives, who can trade them with up to 100x leverage. Bybit is not registered with AUSTRAC, meaning Australian customers cannot directly deposit AUD.
0.1%
Cryptocurrency: Free (although standard network fees will apply)
Cryptocurrency: Free (although standard network fees will apply)
150+
Dubai
0
Bybit is one of the most popular exchanges in the industry for advanced investors. The platform comes with several in-depth trading tools, including customisable charts, a copy trading mechanism and derivatives for most major digital currencies. Investors can also add stop-loss or take-profit triggers to their orders, vital for minimising risk when trading with leverage.
Bybit is also packed with useful features, security measures and a pretty well-received smartphone application. The major pitfall of the platform is two-pronged – fiat deposits aren’t directly handled by the Bybit exchange, meaning investors expose themselves to third-party fees and risks. On top of this, the massive range of features and trading options makes Bybit better suited for more experienced traders.
CoinJar is Australia’s longest-running crypto exchange, with the platform bursting onto the scene over a decade ago in 2013. The team has helped over 600,000 Australians begin building their crypto portfolios with all the basics – Bitcoin, Ethereum and Litecoin. The platform is AUSTRAC registered and adheres to all regulatory requirements. In its years operating in Australia, CoinJar has built a reputation as a trustworthy and secure exchange perfect for beginners and intermediate investors.
1% instant spot orders
2% Instant Buy (via card)
0.1% exchange orders
PayID: Free
Bank transfer: Free
SEPA deposit: Free
Free
60+
Melbourne
4
CoinJar offers a smaller list of crypto assets than most modern-day competitors, but this is not necessarily a bad thing. It is a simple, beginner-friendly platform that doesn’t tend to bother with speculative altcoins. Customers can choose from the basic CoinJar platform (perfect for getting started) or the dedicated CoinJar exchange (excellent for intermediate traders).
The main CoinJar platform can get a little pricey – with spot trading fees a flat 1% – but is still a convenient option for a no-frills trading experience. The CoinJar exchange has an appealing fee structure, with costs as low as 0.02% per trade. However, the exchange may struggle with liquidity for high-volume traders compared to international alternatives.
CoinJar prides itself on being a streamlined, easily accessible crypto exchange. This means it has done away with many features seen in modern trading platforms. With that said, there is still plenty for investors of all skill levels:
CoinJar review
Independent Reserve is a long-standing exchange that has cemented itself in the Australian crypto industry. The company was founded in 2013 by Adam Tepper and Adrian Przelozny as part of the first-wave of Australian crypto platforms. The exchange only supports a handful of digital currencies, but balances this with strong customer support and advanced trading options.
0.02-0.5%
Bank transfer: Free for deposits of $100+
$0.99 charge for deposits under $100
Debit and credit cards: 1%
PayPal: 1%
Bank transfer: Free
PayID/Osko/Instant withdrawal: $1.50
30
Sydney
4
Independent Reserve is a clean, modern crypto trading platform ideal for higher-net-worth or institutional investors. The platform caters heavily to those who trade professionally or frequently. For example, the base trading fee (0.5%) can be reduced to 0.02% for accounts that trade more than 200 million AUD monthly.
The lack of cryptocurrencies available may be off-putting to more speculative investors, but the kind of customer Independent Reserve attracts likely only wants to trade a select few digital assets anyway. Advanced traders will also enjoy the multitude of deposit options, leveraged trading (up to 2x) and Independent Reserve’s integration with the KPMG tax estimator.
The Independent Reserve platform offers a modern, cutting-edge trading interface without the clutter found when using some competitors. There’s admittedly less on Independent Reserve for the casual investor. Still, businesses, institutions and high-net-worth individuals should enjoy the advantages offered by the long-running Australian exchange.
Independent Reserve review
Opening a crypto exchange account for the first time can be a little intimidating. However, most modern platforms have straightforward sign-up processes that takes less than ten minutes to complete. The most difficult element of registering on a crypto trading platform is verifying the new account, which usually requires government-issued identification like a passport or driver’s license.
To assist newcomers, here is a step-by-step guide to opening an exchange account using Swyftx as an example:
First, head to the exchange homepage being used. Most landing sites will make it extremely easy to begin the registration process – select “Sign up”, “Create an Account” or any other prompt given by the platform. On Swyftx, we can click “Signup” or “Start Trading”.
Next, we must enter relevant details to create a crypto exchange account. This typically includes email, country of residence, full name and a mobile number. Fill in the form accurately and move on to the next step. Ensure you have access to the quoted mobile and email address, as most platforms require these contact methods to be verified.
Verify the mobile number and email address entered using a unique six-digit code.
Finally, create a secure password to keep the account safe. Some platforms (such as Swyftx) will require passwords to contain unique characters like numbers, capital letters and so on.
Select “Create” and that’s it – the account is ready to rock and roll.
Although we now have an account that can browse our exchange of choice, we must still pass KYC protocols before depositing AUD and trading. Most platforms will automatically prompt new users to complete verification. If not, the process can be started via “Account Settings” or a similar tab.
To get started, new accounts need a form of government-issued identification. They may also need to take a selfie or sometimes even record a short video. Completing this process via a smartphone is much easier than a desktop browser. Follow the on-screen instructions and submit all required images and videos.
Most exchanges automatically verify new users, so the account should be ready to trade within five minutes if everything checks out. In some circumstances, the new account must undergo manual verification. This can take 24-72 hours, so some patience is required.
Either way, users can deposit AUD and begin trading their favourite cryptocurrencies once the account is fully verified.
Perhaps the hardest part of starting the crypto investment journey is choosing a trading platform that suits your needs. While the platforms noted on this list are all excellent options, what might work for one investor might be a poor choice for another. That’s why several factors are worth considering before choosing the best crypto exchange for you.
Australians should always consider using an Australian-based exchange – at least while starting out. There are many advantages to using a local exchange. For starters, they must abide by Australian financial regulations. Australian businesses also offer more relevant (and free!) deposit options (PayID/Osko, for example), operate in the same timezone and tend to have locally-based customer support.
On the other hand, more experienced traders may want to actually consider an exchange outside of Australia. This is because the nation is a relatively small market, and higher net-worth orders may suffer from poor liquidity and high spreads. Additionally, overseas platforms typically have better support for derivatives and margin trading.
A crypto exchange’s reputation is extremely important. A good resource to use is Trustpilot or Productreview, where independent customers give a rating out of five to various businesses and their associated customer support. New investors should also look at the customer service options available. Exchanges that offer 24/7 support, live chat or a mobile hotline are often preferable to those lacking these options.
These reviews give insight into the most trusted crypto exchanges in Australia.
Hacks and exchange attacks are slowly becoming a thing of the past for the crypto industry, but they are still a real threat for now. Australian exchanges are often innately more secure than international exchanges due to their lower turnover – making them less of a target. Other security metrics to consider include:
Beginner investors likely only need a few cryptocurrencies to start building their portfolios. Nearly every major exchange supports a wide enough range to get their customers started. However, experienced traders interested in more obscure altcoins should always double-check each platform’s listed coins. For example, it wouldn’t make much sense for an investor who wants to purchase SUI to sign up for an exchange that doesn’t offer it.
Platforms that do not accept AUD can pose a major inconvenience to investors – especially newcomers to the crypto scene. These exchanges should be avoided by those who want to take a backseat on their investment voyage.
Additionally, certain platforms may offer unique and appealing payment options. An exchange that allows investors to buy crypto with debit/credit card, PayPal or cash could be an advantage over a competitor that only supports bank transfers.
Fees are rightfully one of an investor’s biggest considerations before selecting a crypto exchange. For some traders, a fee difference of just 0.01% can be the difference between turning a profit and making a loss. While most platforms are fairly transparent with their trading fees, investors should always investigate spreads – the difference between an asset’s buy and sell price. These “hidden fees” can easily make a seemingly cost-effective exchange rather expensive.
Crypto regulation still sits in a grey area, but there are still important government protocols for exchanges to follow. Most of these rules act in the consumer’s best interest, so it’s a good idea for beginners to stick to exchanges registered with their local financial authority. For Australian operating platforms, this is AUSTRAC.
There are several high-quality exchanges in Australia for crypto enthusiasts to choose from. The “best exchange” will be one that suits each investor’s personal financial goals. Swyftx, Independent Reserve, OKX Australia, CoinSpot and CoinJar are all solid options.
Very few Australian exchanges have encountered major issues with liquidity or security. However, very few have acquired ISO27001 Certification, the industry standard for information security – including Swyftx, CoinSpot and Independent Reserve.
Swyftx has the highest Trustpilot score of Australian exchanges, with an excellent rating of 4.7/5. Other high-scoring local trading platforms include CoinSpot (4.4), CoinJar (4.1) and Coinstash (4.5).
International heavy-hitters Binance and Bybit have some of the lowest fees on the market. High-volume traders can see fees as low as 0.075%. For Australian exchanges, Swyftx reportedly has the lowest spreads, while Independent Reserve and Coinjar offer the lowest fees for institutional investors.
Performing due diligence on an exchange and the development team behind the company is a great way to ensure the exchange is trustworthy. However, the only way to truly avoid counterparty risk is to eliminate it altogether. Long-term investors should consider moving at least some of their crypto assets off an exchange and into a non-custodial wallet.
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