Best Cryptocurrency Exchanges In Australia

Australian’s are spoilt for choice when it comes to looking for cryptocurrency exchange with 30+ options currently available and growing. We have reviewed over 50 crypto exchanges to understand what makes a good and bad trading platform to buy and sell digital currencies.

Based on various important factors such as supported crypto assets, features and benefits, deposit methods & limits, trading fees, security, and customer support, we have assessed and compared the best exchanges to buy Bitcoin and other cryptocurrencies. In this article, we share our research and list out the best cryptocurrency exchanges in Australia.

Based on our exchange reviews, here are the best crypto exchanges for Australia in 2021.

  1. Swyftx (best exchange overall)
  2. Digital Surge (best for beginners)
  3. CoinSpot (best for reputation)
  4. Independent Reserve (best for SMSF)
  5. Binance (best for altcoins)
  6. CoinJar (best for debit cards)
  7. Coinbase (best global exchange)
  8. Kraken (best trading platform)
  9. FTX (best for margin trading)
  10. eToro (best for CFD’s and social trading)

Disclaimer: This article contains affiliate links through our supported partners. Please read our disclosure for more information.

Australian Crypto Exchanges: 2021 Reviews

1. Swyftx
BEST EXCHANGE OVERALL

Swyftx Exchange

www.swyftx.com

9.5/10
9.5/10

Read the full Swyftx Review

Supported Crypto

297

Fees

0.6%

Deposit Options

Bank transfer, PayID, POLi, credit card

Promotion

Free $10 BTC using our affiliate link

  • A well-designed user interface with a level of information that caters to both the beginner and experienced crypto traders. Users will be able to quickly assess the status of their portfolio including growth (%), recent order history, and track real-time profit and loss. 
  • Crypto can be directly bought using AUD meaning that manual conversion into USD isn’t required. Swyftx will automatically convert the deposited AUD into USD which is held on the account and increases liquidity. Swyftx provides full transparency and presents the current exchange rate prior to confirming the purchase.
  • Rather than offering pre-determined bundles of crypto to purchase, Swyftx provides the ability to set recurring orders, otherwise known as Dollar Cost Averaging (DCA). Users can opt to set up automatic deposits to purchase one or more cryptocurrencies at once, and in the desired quantities. This feature allows users to take control of their portfolios by providing additional trading flexibility. 
  • Zero deposit and withdrawal fees regardless of amount, low trading fees (0.6%), and very competitive spreads.

Swyftx is suited for both beginner and advanced investors and traders. The vast list of tradable assets which includes all the major cryptocurrencies as well as altcoins should appeal to those who want to have more potential trading options and strategies for their portfolio.

Overview

Swyftx is our best-rated Australian exchange to buy, trade, and sell Bitcoin and other digital currencies. Founded in 2019 and based in Brisbane Australia, the team at Swyftx has carefully designed the platform to cater to a broad range of cryptocurrency investors and traders of varying degrees of experience and knowledge. The exchange provides over 450,000 Australians with a simple and transparent way to buy, trade, and sell 297 digital currencies.

Australian’s can quickly create an account without a lengthy verification process to start depositing AUD into the account. Swyftx offers a range of common deposit methods plus a few more that other exchanges do not support, including bank transfers, PayID, POLI, and also credit cards. A major benefit with Swyftx is there are zero deposit fees to transfer AUD from an Australian bank account.

swyftx interface

The Swyftx trading experience is modern, simple, but maintains a high level of functionality, with the dashboard able to be customized to show the indicators and tools that users want to see. Since most exchange platforms available to Australians do not allow customisation, this is a welcome feature as users can take control of how they wish to manage and track their crypto portfolios. There is also the ability to toggle dark-mode on the desktop and mobile application plus a demo account where users can practice trading using $10,000 of virtual funds risk-free. Beginner and advanced investors alike will benefit from the in-built crypto tax calculator, Dollar-Cost-Averaging (DCA) tools, real-time portfolio tracking, and the TradingView charting package that is integrated into the trading interface.

swyftx tradingview

A common theme of the over 3,400 customer feedback reviews on TrustPilot, related to the platforms exemplary customer service. The Swyftx customer service is on the of largest in Australia and comprises 35 individuals including Customer Support Officers, Resolution Managers, Compliance officers and Verifications Officers. Users can get in touch with the customer service team via email, phone, the 24/7 livechat, or Telegram.

Swyftx is one of a few Australian exchanges that utilize multiple order books to provide higher liquidity on trading pairs. The higher trading volume and market depth allows Swyftx to offer lower spreads (i.e. the difference between the bid and asking price) to the user, especially in volatile markets or where there is a lack of trading activity. The average spreads for Bitcoin and other cryptocurrencies on Swyftx are around 1.7% and 0.45%, respectively. Swyftx users are able to benefit from tight spreads which means more value for money.  Swyftx trading fees are 0.6% which is competitive in the Australian crypto market,

Swyftx is active in the community including social media platforms such as Facebook, Instagram, Twitter, and Telegram. They are also known for being progressive in the Australian crypto market and continue to release innovative products and services. An example of this is the ab9ility for users to stake crypto such as Solana (SOL), Cosmos (ATOM), Cardano (ADA), and Polkadot (DOT) to earn up to 20% Reward Per Year (RPY). The platform has also identified a need in the Australian crypto market for leverage margin trading and intends to add this feature to their platform in the future,

swyftx staking

Pros

Cons

2. Digital Surge
BEST EXCHANGE FOR BEGINNERS

Digital Surge

www.digitalsurge.com.au

9.0/10
9/10

Read the full Digital Surge Review

Supported Crypto

287

Fees

0.5%

Deposit Options

Bank transfer, PayID, POLI, credit card

Promotion

None available at this time

  • A simple and clean interface means that beginners will have an easy time depositing funds and buying crypto. 
  • Whilst the spreads are competitive compared to other Australian exchanges, Digital Surge offers some of the lowest trading fees (0.1 – 0.5% depending on trade volume), which would appeal to the general population.
  • The ability to generate crypto tax reports. 
  • Digital Surge continues to provide innovative services including the ability for users to pay Australian bills using their held Bitcoin.

Digital Surge is our best-rated crypto exchange for beginners. The simplicity of the interface allows users who are new to cryptocurrency trading to quickly grasp the concepts of crypto buy and trading whilst enabling a high level of control and transparency over portfolios. Beginners will benefit from the fully integrated and comprehensive education hub. 

Overview

Digital Surge is a uniquely user-friendly cryptocurrency exchange, providing Australians and New Zealanders with an easy way to buy, store and sell 287 cryptocurrencies. The Brisbane-based exchange provides a platform that is perfectly suited for beginners with no prior experience with exchanges or buying crypto, or those who possess a basic understanding of cryptocurrencies. Along with low trading fees, excellent customer support, and a variety of other features, Digital Surge is a strong option for investors who want to buy and hold digital currencies as long-term investments. Customers are able to start their portfolio investments with popular assets including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), Litecoin (LTC), and many more.

To further benefit beginners, Digital Surge offers a wealth of educational content in their “Learn Crypto” hub. The intent of the hub is to provide newcomers with accurate information about important topics such as how the blockchain works, what wallets are, and the basics of crypto investments. Articles are written in simple language to easily explain crypto aspects and to minimize confusion.

Digital Surge

One of the key advantages of using Digital Surge is its low trading fees (0.5%) that are highly competitive in the Australian crypto industry. For example, trading fees in Australia range from as low as 0.1% (Binance Australia), 0.5% (Cointree), 0.6% (Swyftx), 0.85% BTC Markets, and 1% (CoinSpot). This means that investors and traders are able to stretch their dollars further than they otherwise would with most other exchanges. High-volume traders who conduct large transactions will benefit from the tier-based structure where trading fees decrease to a minimum of 0.1%, based on a 30-day trading volume. For example, crypto transactions between $250,000 and $500,00 will incur a reduced fee of 0.3%.

The Digital Surge platform has been designed with simplicity in mind. Apart from being aesthetically pleasing, the layout is easy to understand and beginners will have a simple time navigating their way through the platform and user interface. This makes for a more enjoyable trading experience for investors. Advanced traders are likely to find the exchange interface particularly lacking as there are no advanced trading charts or analytical tools available. 

Digital Surge Trading

Despite this, Digital Surge supports the use of a range of order types to provide users with a level of trading flexibility and utility, including price alerts, trigger orders, and recurring buys (otherwise known as Dollar-Cost-Averaging). Digital Surge caters to beginner and novice investors and is an excellent crypto platform choice for those who want a no fuss way to buy and manage a range of digital currencies. Digital Surge supports Australian and New Zealand users only.

Pros

Cons

3. Coinspot
BEST EXCHANGE FOR REPUTATION

Coinspot

www.coinspot.com.au

9.0/10
9/10

Read the full Coinspot Review

Supported Crypto

330

Fees

1.0%

Deposit Options

Bank transfer, OSKO, POLi, PayID, BPAY, cash (Blueshyft)

Promotion

None available at this time

  • Coinspot was the first cryptocurrency exchange in Australia to obtain the internationally recognized ISO 27001 certification for information security. The certification requires Coinspot to provide an adequate level of resources to ensure the establishment, implementation, maintenance continual improvement of information security management systems.
  • The CoinSpot trading interface including easy access to instant buy and sell functions will suit beginners with no prior crypto experience. The clean and simple design allows for easy navigation and depositing and withdrawing funds is straightforward. 
  • The number of supported digital currencies to choose from is (310+) is one of the best in Australia.
  • The trading platform features live charting powered by TradingView.  

In terms of trustworthiness and reputation, CoinSpot is the clear leader in the Australian crypto market. Established in 2013, CoinSpot is one of the oldest Australian-based crypto exchanges. Despite the later arrival of big competitors like Digital Surge and Swyftx, CoinSpot has maintained its legacy of being Australia’s most trusted cryptocurrency exchange with over 1 million Australian users enjoying the platform. It was the first Australian exchange to obtain ISO 27001 certification which means that CoinSpot complies with stringent management processes relating to digital asset storage, information and record keeping, intellectual property, and more. Customers should be assured that they are receiving the highest level of information security available.

Overview

CoinSpot is a Melbourne-based cryptocurrency exchange that was established in 2013. The platform provides an easy way for Australian investors and traders to buy, trade, and sell 330 digital currencies and assets. The platform has gained high visibility in the financial and commercial sectors and has established itself as a major player in the Australian crypto market. CoinSpot’s strengths lie with its unwavering reputation as a trustworthy exchange. 

The exchange is highly regulated by Australia’s governed financial sector to ensure proper conduct and operations with investors money. To provide further confidence to its customers, CoinSpot is the only crypto platform in Australia that has obtained ISO 27001 certification from the International Organisation for Standardisation. The accreditation means that CoinSpot has to comply with strict regulations and management processes to ensure that its information security systems are operating at the highest level.

coinspot

CoinSpot supports several payment methods for users to fund their account wallets such as POLI, BPAY, and PayID. These methods do not incur any deposit fees, with the exception of BPAY or cash payments at supporting news agencies which incur deposit fees of 0.9% and 2.5%, respectively. The use of credit/debit cards to fund the account wallet is not supported.

The majority of features are tailored towards beginner investors who are getting started in the world of cryptocurrencies. For example, users are able to purchase crypto bundles where several cryptos can be purchased in a single transaction and thereby reducing their fees. This is also a great method for quickly diversifying an investment portfolio. The Instant Buy/Sell crypto feature will be appealing to those who do not want to go into the exchange interface and view charting. This feature allows users to use AUD to purchase digital currencies including BTC, USDC, LUNA, ADA, BNB, DOT, LINK, and more. Purchased crypto is near-instantly transferred to the users wallet where it can be tracked and managed.

coinspot buy feature

CoinSpot trading fees of 1% for using the Instant Buy/Sell function is considerably more expensive than its competition and is not good value for money. This is a drawback that is commonly raised in discussions about CoinSpot as a trading option for beginners. CoinSpot users who want lower trading fees will need to access the market orders function within the trading interface where the fees are significantly lower at 0.1%, However, this is more complicated and requires some trading experience. The method involves setting a price target for a particular digital currency, and if the market price achieves that target then CoinSpot will execute the transaction. Since this function is found within the trading interface, beginners may either not be aware of it, or be discouraged or overwhelmed by the charting and order books. Unfortunately, the 1% trading fee also applies to recurring buy, take profit, stop, and limit orders.

Pros

Cons

4. Independent Reserve

BEST EXCHANGE FOR SMSF

independant reserve logo

www.independentreserve.com

8.5/10
8.5/10

Supported Crypto

27

Fees

0.5%

Deposit Options

Promotion

None available at this time

  • A simple and clean user interface that will benefit investors with no prior cryptocurrency experience. Beginners will have an easy time using AUD to buy and sell 27 digital currencies including Bitcoin, Ethereum, and Litecoin.
  • In-built crypto tax estimate calculators where users can get a quick understanding of their cryptocurrency taxation liabilities. The generated tax reports provide a detailed breakdown of monetary gains, fiat and digital currency balances, fees incurred during the financial year to make for easy reporting to the ATO.
  • Competitive trading fees start at 0.5% and can be reduced based on a 30-day trading volume which will suit high-net traders.
  • Premium features and personalized support for Over-The-Counter (OTC) and Self-Managed Super Fund (SMSF) customers. 

Independent Reserve is a well-established Australian platform that is trusted by over 200,000 customers. The exchange holds over 8,000 SMSF accounts. Independent Reserve is considered the top choice for Australian high-net and SMSF investors due to its low trading fees, in-built tax reporting tools, and personalized support. OTC will also benefit from the ability to set up limit orders which is a feature that is unique in the OTC market. Beginner investors are not left behind and will find the interface easy to navigate. AUD can be deposited to allow novices to buy and sell a selection of digital assets at competitive rates.

Overview

Founded in 2013, Independent Reserve has served over 200,000 individuals, holds over 8,000 SMSF accounts, and holds about $1 billion worth of digital assets. Whilst the exchange is geographically focussed on Australia, New Zealand, and Singapore, investors, and traders from 33 other countries and territories. In these regions, USD can be used to fund the wallet in order to take advantage of Independent Reserve’s unique features. 

In Australia, Independent Reserve has established itself as one of the most reputable crypto platforms and is the Official Cryptocurrency Exchange of the Sydney Swans Football Club. Independent Reserve is a member of the Australian Digital Commerce Association (ADCA) and Blockchain Australia. The company has won several awards and notable recognitions, appearing in the Deloitte Tech Fast 50 Australia, Financial Times High Growth Companies 2020, and Australian Financial Review’s Most Innovative Companies.

independent reserve review

Beginner investors with no prior cryptocurrency experience will be able to find their way through the Independent Reserve interface. The interface is visually intuitive with features able to be navigated with ease. Although the interface is a bit basic compared to other platforms and in need of an update, it still performs seamlessly which is what matters.

Options to deposit AUD funds into the account wallet as well as buying and selling a range of digital assets are clearly laid out and identifiable. The Buy/Sell function will appeal to most beginners where AUD can be used to purchase cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Polkadot (DOT), and many more. Purchased crypto will be near-instantly transferred to the users’ account wallet where it can be tracked and managed. Beginner and experienced investors alike will enjoy the very competitive trading fees that Independent Reserve offers. Trading fees start at 0.5% and can be reduced depending on the 30-day trading volume. This will suit high-net investors where trading fees can be as low as 0.02% if the trading volume is sufficiently high enough.

independent reserve buy BTC

The trading interface is simple and lacks features and functionality. Independent Reserve provides a simple charting package however does not come with the advanced trading tools and indicators associated with premium charting packages such as TradingView. As such, an in-depth analysis of the market price actions of cryptocurrencies cannot be undertaken and users may wish to consider an alternative trading platform that offers advanced tools.

independent reserve charts

independent Reserve is widely known for its premium OTC and SMSF service offerings and holds over 8,000 SMSF accounts. Based on our review and with consideration of other exchanges, Independent Reserve still maintains its position as the top choice for high-net and SMSF investors. OTC and SMSF investors alike will benefit from the very competitive trading fees (0.5%), personalized customer support for account holders, in-built tax reporting tools, and the ability to optimize trades using a variety of limit orders.

To solidify Independent Reserve’s reputation as a trusted crypto exchange, the platform has not experienced any security breaches that have resulted in the loss, theft, or damage of digital assets or funds. Digital assets are stored in cold wallets in physical vaults that are located in geographically diverse locations. These vaults are protected by multi-layer encryption and require multiple signatures before assets can be withdrawn. Independent Reserve is registered with AUSTRAC and complies with AML/KYC procedures. 

Pros

Cons

4. Binance Australia

BEST EXCHANGE FOR ALTCOINS

Binance

www.binance.com/en

9.5/10
9.5/10

Read the full Binance review

Supported Crypto

400+

Fees

0.1%

Deposit Options

Bank transfer, PayID, POLI, credit card

Promotion

None available at this time

  • Binance is the #1 ranked cryptocurrency exchange in the world for the depth of its liquidity in its order books, high trading volumes, and traffic. 
  • Extremely low trading fees of 0.1% can be reduced by increased trading volume.
  • One of the largest selections of cryptocurrencies to buy, trade, and sell (400).
  • Full-featured and streamlined mobile apps for iOS and Android devices.
  • A suite of innovative products and services including the ability to purchase NFTs, earn interest on crypto holdings with Binance Earn and staking, margin trading for advanced traders, and a Visa debit card to spend crypto.

Binance is well known for the depth of its liquidity in its order books and high trading volumes. The high liquidity means that traders are able to trade cryptocurrencies at lower spreads compared to smaller exchanges with lower liquidity where spreads will be wider. High liquidity also means that the order book market is more stable and results in less price slippage. Due to the high liquidity across its trading pairs and the hundreds of supported cryptocurrencies, Binance is a strong option for investors who want to trade altcoins. 

Overview

Binance is the colossus of the crypto world. It is such a household name that it is often the first choice for global investors and traders, and with good reason. Founded in 2017 by Changpeng Zhao, the exchange has quickly grown into the world’s largest exchange in terms of trading volume, liquidity, and traffic. Binance boasts an ecosystem of staple and innovative crypto services and features that caters to a wide spectrum of crypto users on a user-friendly interface. Binance’s strengths lie in its high liquidity for trading pairs, low trading fees, a wide range of services, and ecosystem of innovative features. 

The Binance brand reaches crypto users in over 180 countries worldwide and is made up of several subsidiaries with the Australian company operating as Binance Australia. Binance Australia is operated by InvestbyBit Pty Ltd and is registered with AUSTRAC, the government body responsible for the detection, prevention, and mitigation of organized crime in the financial sector including terrorism financing and money laundering. Australians creating an account must comply with Know Your Customer (KYC) procedures and provide basic personal information to verify their identity before using the services on the platform.

binance feature

The core of the Binance brand revolves around the sheer trading volume and liquidity, as well as the vast number of digital assets and selection of trading pairs. This makes it a highly attractive option for investors and traders of varying levels of experience and knowledge can trade cryptocurrencies. On top of this, Binance continues to provide innovative products and features to maintain its status as one of the market leaders in the crypto space. Some of the key features of Binance include:

  • An enviable array of over 400 digital currencies including BTC, stablecoins (e.g. USDT), and a vast selection of altcoins such as SHIB, LUNA, DOT, MATIC, SOL, LINK, and many more.
  • Buy, sell, mint, and bid on a diverse range of trending and popular NFTs in the Binance marketplace.
  • Grow your crypto holdings by earning interest on the principal deposited with Binance Earn. Users have the option of selecting for predictable returns or higher yields with greater risk to capital.
  • Stake one or more of 76 cryptocurrencies including Ethereum 2.0 for periods of 30, 60, or 90 days to earn up to 32% Annual Percentage Yield (APY).
  • Access greater profits with leveraged margin trading.
  • Binance VISA Card to convert and pay with crypto.

Australian investors and traders who choose to trade with Binance Australia, are able to deposit Australian Dollars (AUD) into their account wallets via PayID. Users can also deposit cryptocurrencies from an external hardware wallet or another exchange platform which is a feature that is surprisingly not always offered in the Australian market. Investors and traders can then enjoy the extremely low trading fees of 0.1% (maker) and 0.1% (taker) which makes Binance one of the cheapest trading platforms available to Australians.

binance spot trader

One of the key reasons why Binance has skyrocketed to popularity amongst a wide range of crypto users is its user-friendly trading interface. Binance have done an excellent job designing a highly functional but modern interface that caters for beginner investors to serious traders. Switching between trading pairs is easy with no latency issues. Advanced traders will enjoy and appreciate the TradingView live charting which is seamlessly integrated into the trading interface. The premium charting tool comes complete with all the advanced analytical tools and indicators traders need to identify and optimise their trades.

Pros

Cons

6. Coinjar

BEST EXCHANGE FOR DEBIT CARD

coinjar logo

www.coinjar.com.au

7.0/10
7/10

Read the full CoinJar review

Supported Crypto

30+

Fees

1%

Deposit Options

Bank transfer, BPAY, PayID/NPP, Blueshyft, credit card, crypto

Promotion

None available at this time

  • The CoinJar Card allows users to spend their crypto at any retail online or in-store outlet in Australia that accepts Mastercard. Users can request a physical card to be sent free of charge, otherwise, the CoinJar Card can be used in conjunction with the CoinJar mobile app. Transactions fees of 1% are competitive in the market. 
  • A streamlined and intuitive buy and sell platform that allows beginner investors to buy, sell, and trade crypto without hassle.  
  • Over-The-Counter (OTC) trading desk with a dedicated account manager for high volume and low fee trades.
  • Purchase customisable or preset cryptocurrency bundles in single transactions to quickly diversify your portfolio
  • Access greater trading flexibility, options, and lower fees using CoinJar Exchange. The trading interface features live charts, and a maker/taker fee model.

CoinJar is one of the markets leading exchanges that provides innovative products and services for everyday crypto users. In our opinion, CoinJar Card is the best available crypto debit card in the Australian market. The card is best used in conjunction with the CoinJar mobile apps which are compatible with iOS and Android devices. Combine these with CoinJar Rewards, and the result is an integrated and mobile experience that will benefit investors who use their crypto on an everyday basis.  

Overview

CoinJar is a trusted and reliable cryptocurrency exchange that is suited to Australian investors who are fairly new to the world of cryptocurrency. They provide a number of unique and innovative products and services and are backed by some of the most forward-thinking investors including Digital Currency Group, Boost VC, and Blackbird Ventures. Since its establishment in 2013, CoinJar has built a reputation of being a trustworthy and innovative crypto exchange that has traded over $1.5 billion across over 400,000 users.

One of their best features is the CoinJar Card where crypto can be spent at online or in-store outlets that accept Mastercard or even to withdraw AUD from ATMs. The card also supports both Apple Pay®️ and Google Pay®️. There are no set up costs, no monthly fees, and users can earn CoinJar Rewards every time a transaction is made. The card is managed entirely through the CoinJar mobile app where users can conveniently select which crypto they want to use as purchasing funds. The card then automatically converts the crypto into AUD to enable a transaction. This, along with the competitive 1% transaction fees, makes the CoinJar Card the best crypto debit card within the Australian market.

coinjar mastercard

Whilst CoinJar offers some of the most innovative services, the exchange still provides a satisfactory avenue for investors to buy, sell, and trade over 30+ digital currencies on a user-friendly platform. The ‘quick buy’ feature possesses relatively high trading fees of 1%, so users may want to trade through CoinJar Exchange. CoinJar Exchange is a separate platform that users can access using their CoinJar account login details. Here, cryptocurrencies including BTC, USDC, XLM, LINK, and LTC can be traded with lower fees (maker/taker model). 

The Coinjar interface is reminiscent of other platforms where simplicity has been incorporated into the design. Beginners will have no trouble finding their way around to fund their accounts, buy cryptocurrencies, or use any of the other features on offer. CoinJar provides a ‘quick buy/sell’ function where purchased crypto is near-instantly deposited into the user’s wallet, however, advanced orders types are not available to manage risk. Market prices for trading pairs are simply plotted over time with no ability to analyze price actions. Overall, the interface is visually appealing and clean, and perfect for beginners who are looking to build their crypto portfolios without hassle.

coinjar exchange

Beginner or novice crypto investors and traders who want to start getting involved with reading and interpreting live charting may find the Coinjar Exchange as a suitable starting option. The CoinJar Exchange is separate from the main platform, however, users can conveniently use the same login details to access the feature. The exchange is more comprehensive than the simple market price graphs presented on the main interface and provides live charting with candlesticks, however, advanced analytical tools, drawing tools, and indicators such as those found in TradingView packages are not available to analyze price actions.

CoinJar Exchange possesses a different fee structure, live crypto charts, and a more comprehensive trading interface. Despite adding live charts, the interface remains uncluttered and clean. The interface lacks any advanced indicators, drawings tools, and order types and is perfect for beginners who know how to read live charts. 

Pros

Cons

7. Coinbase
BEST GLOBAL EXCHANGE

Coinbase

www.coinbase.com

9.0/10
9/10

Read the full Coinbase Review

Supported Crypto

270+

Fees

0.5% + 3.99%

Deposit Options

Bank transfer, PayID, POLI, credit card

Promotion

None available at this time

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Overview

Swyftx is our best rated Australian exchange to buy, trade and sell Bitcoin and other digital currencies. Founded in 2019 and based in Brisbane Australia, the team at Swyftx have carefully designed the platform to cater to a broad range of crypto investors and traders of varying degrees of experience and knowledge.

Australian’s can create an account quickly without a lengthy verification process to deposit AUD using common payment methods such as bank transfers, PayID, POLI and also credit cards. A major benefit with Swyftx is there are zero deposit fees to transfer AUD from a bank account.

coinbase feature

Pros

Cons

8. Kraken
BEST TRADING PLATFORM

kraken logo

www.kraken.com

8.5/10
8.5/10

Read the full Kraken Review

Supported Crypto

105

Fiat Currency

AUD, USD, EUR, CAD, BGP, CHF, JPY

Deposit Options

Etana/Swift, PayID, OSKO, Bank transfer

Promotion

None available at this time

  • Kraken is ranked #6 in the world for trading volume, traffic, and liquidity in its order books. The higher liquidity means that fiat and crypto trading pairs are easier to transact with decreased slippage in prices. 
  • Advanced investors and day traders will benefit from the feature-rich trading interface that Kraken Pro has to offer. A range of advanced search analysis methods including momentum analysis, volatility, oscillator, and mean reversion tools are available to use. Meanwhile, the live charting is of the highest quality and fully customizable to ensure that users can maximise the visibility and transparency of their trading experience.
  • Australian investors can use their Self-Managed Super Fund (SMSF) to buy and trade cryptocurrencies.
  • Earn passive crypto rewards by staking coins. margin and futures trading is also available.

Kraken has earned a reputation for its robust security framework, customer service, and regulatory compliance. Beginners with minimal crypto trading knowledge and experience might find the platform to be a bit daunting. In our opinion, Kraken would suit novice investors who possess a basic background in the world of crypto. Intermediate and experienced investors will find the advanced features in Kraken Pro to suit their trading needs.

  • Overview

Established in 2011, Kraken is one of the longest-serving cryptocurrency exchanges in the world. In terms of trading volume, Kraken is one of the largest cryptocurrency exchanges which provides a secure way to buy, trade and sell crypto in over 190 countries around the world. The crypto exchange offers a number of features that are not offered by many other platforms. Some of these include futures/margin trading, staking, and the ability to trade on multiple exchanges through a single platform. Features include:

  • Leveraged margin trading with 16 cryptocurrencies including BTC, XRP, ETH, TRX, and USDC whereleverage of up to 5x can be obtained.
  • Futures trading where users can speculate and profit on the price of a digital asset.
  • Stake 10 cryptocurrencies including ETH 2.0, SOL, ATOM, BTC and fiat currencies EUR and USD, to earn rewards of up to 20% APY.
  • Connect to 25 other cryptocurrency platforms with Cryptowatch to access over 4,000 markets.
  • Trade cryptocurrencies on Kraken Pro, a premium trading interface for experienced and serious traders.
  • SMSF support for those who want to build long-term stores of value.
  • Access to a wealth of premium educational resources to expand your crypto knowledge including guides, podcasts, webinars, and videos.
  • Industry-leading security measures to ensure the safety of customer funds and assets as well as compliance with local regulatory requirements.

 

kraken feature

Experienced and serious traders who want to maximize their portfolios through the use of advanced trading features will find Kraken Pro to be highly appealing. The charting on Kraken Pro is second to none and rivals other premium charting packages that are available. Beginners will find the interface particularly daunting, however, experienced traders will get a lot of value from Kraken Pro’s powerful features, including:

  • An abundance of search analysis tools such as mean reversion, momentum, oscillator, statistical analysis, trend analysis, and volatility tools. 
  • Several charting styles to choose from such as candlesticks, Hiekin-Ashi, bar, line, and mountain. The live charting can also be customized for aesthetic or functional purposes to maximize the visibility of market price actions.
  • A suite of drawing tools including Fibonacci and annotation to allow note-taking.

 Trading fees on Kraken Pro follow a maker and taker structure with fees of 0.16% and 0.26%, respectively, which are quite competitive in the market. As an added advantage, trading fees can be reduced further if the trading volume on all cryptocurrencies for the past 30 days reaches certain milestones, and will benefit high-net traders. Traders are also incentivized to engage with the market with lower trading fees to provide liquidity to the exchange by filling the order book by placing conditional and limit orders (i.e. maker fees).

kraken pro

Pros

Cons

9. FTX
BEST FOR MARGIN TRADING

ftx logo

www.ftx.com

8.5/10
8.5/10

Supported Crypto

259+

Fiat Currency

USD, EUR, GBP, AUD, HKD, SGD, TRY, ZAR, CAD, CHF, BRL

Deposit Option

Cryptocurrency, credit card (Visa/Mastercard), bank transfer

Read the full FTX Review

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  • Deep order books and significant liquidity. FTX is ranked as the #3 cryptocurrency exchange in the world for liquidity, traffic, and trading volume.
  • Extremely competitive trading fees that start at 0.02%/0.07% and can be further reduced if the native FTX token (FTT) is held or staked or based on a 30-day trading volume.
  • Excellent trading interface offering TradingView live charting, advanced market analysis features, drawing tools, and indicators. Positions can be easily viewed and managed with several different types of orders methods supported to open and close a trade.
  • Over 259+ supported digital currencies and an abundance of markets.
  • Up to 20x leverage on tokens as well as the option to go short or long on positions with up to 3x leverage with no margin.
  • MOVE contracts that execute to the absolute (positive or negative) change in the market price of an asset over time.
  • Instant OTC quotations that can be acted upon.

FTX is a leading cryptocurrency exchange that offers futures, leveraged tokens, and OTC trading to investors and traders worldwide including the United States (FTX.US). The exchange is best known for its derivatives trading offering where a wide variety of leveraged tokens can be traded on the options or futures market. Serious traders will be able to utilize the abundance of markets and supported digital currencies, along with the extremely low trading fees to maximize their trading activities. The significant liquidity provides tighter spreads and minimal price slippage.

Overview

FTX was founded by prominent crypto figurehead Sam Bankman-Fried and Gary Wang in May 2019. The exchange is backed by Alameda Research, a $100 million AUM quantitative cryptocurrency trading firm that provides liquidity worldwide. Alameda trades over $600 million and up to $1 billion per day through exchanges like FTX and accounts for approximately 15% of global stablecoin volume.

On the back of its assortment of derivative trading products, the exchange quickly rose to popularity and continued to expand. In August 2020, FTX acquired Blockfolio, a cryptocurrency portfolio tracking app, for $150 million. In 2021, FTX raised $900 million at a valuation of $18 billion from over 60 investors including Binance, which solidified its standing as a serious cryptocurrency exchange. At the time of writing, FTX was ranked as #3 in the world for traffic, trading volume, and liquidity.

ftx features

FTX is a top cryptocurrency derivatives trading platform that has been built by traders for traders. The platform is robust, visually intuitive, and rich in advanced features that will satisfy the trading needs of intermediate and experienced traders. The live charting is powered by TradingView, the most popular charting package that provides traders with advanced tools and indicators to assist in identifying and maximizing trades. 

ftx trading interface

Investors and traders have access to an abundance of markets and trading pairs with over 259+ supported digital currencies. On top of this, FTX offers some of the most competitive maker/taker trading fees in the market which start at 0.02% and 0.07%. This makes it highly desirable for retail traders utilizing OTC services, and professional traders. Traders who hold or stake the native FTX token, FTT, may be entitled to receive additional benefits to enhance their trading experiences such as reduced trading fees and increased commissions from the referral program.

FTX is a safe and secure cryptocurrency platform that operates in over 190 countries around the world. The exchange is licensed and regulated by the local government authorities to provide cryptocurrency services. FTX is not available to users in the United States, however, residents can access the same features through FTX.US. FTX.US holds multiple state licenses and is permitted to operate in the US.

FTX customers who want to trade on the go can do so with the FTX Pro mobile app. The app is compatible with both iOS and Android devices and provides access to the majority of features. Users who value account security will appreciate the ability to set up biometric fingerprint login for extra peace of mind and convienience.

Pros

Cons

10. eToro
BEST FOR CFDs & SOCIAL TRADING

etoro logo

www.etoro.com

8.0/10
8/10

Supported Crypto

26

Fiat Currency

AUD, GBP

Deposit Option

Direct bank transfer, credit / debit card, Neteller, PayPal, Skrill

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  • Social trading allows users can copy the portfolios of successful traders or top-performing portfolios. To assist with choice, portfolios that can be copied are organized into various categories such as most copied, trending, and long-short investors. eToro also presents portfolio suggestions based on their market performance, popularity by top traders, and thorough market research and strategy.
  • The eToro platform interface has been designed for beginner investors in mind. Upon login, users will find the dashboard interface to be clean and well laid out.
  • A demo or ‘virtual’ account where users are given a $100,000 deposit to become familiar with the platform’s features and practice trading. 

The main advantage that eToro carries over its competitors such as Plus500, is that the platform is incredibly fluid and aptly suited for beginner traders. The majority of its features and low deposit amounts have been tailored towards beginners starting their investing journeys. Beginners without a lot of experience or trading knowledge can mirror the trades of other investors with the option of applying stop-loss limits to minimize their potential losses.

Overview

eToro is a multi-asset social trading platform that offers cryptocurrency, stock, and Contract-For-Difference (CFD) trading to people all over the world. Since their inception in 2007, eToro has expanded across the world and have reached over 20 million users. eToro is now a global leader in the social trading market where users can copy the trades and portfolios of high-performing investors

Australians who are new to investing are able to follow an investor to automatically copy their trades using the available trading account balance. Beginners are the major beneficiaries of this feature by copy-trading and following the most profitable traders on the platform to earn a passive income. This feature is unique in the Australian market and is easily our top choice for social and CFD trading. Browsing the profiles and portfolios of successful traders is an engaging process and reminded us of an online shopping experience. Portfolios are able to be sorted and filtered according to the investment needs and objectives of the user.

etoro copy trading

The ease of use factor on eToro is high with the trading experience enjoyable and engaging. The dashboard and trading interface are well laid out, clean, and modern which makes for an easy time navigating through the various features and menus. Upon logging in for the first time, users will be offered a virtual tour of the platform which is a small but nice addition for newcomers.

To further bolster its appeal and suitability to trading newcomers, eToro offers its users a demo mode that can be toggled on and off. the demo mode comes equipped with $100,000 of virtual for investors and traders to explore the features of the platform and practice trading. Since funds are virtual, trading can be undertaken with zero risk to the user’s own capital funds. 

A unique feature of eToro is that trading fees are not charged to users who conduct trades on the platform. Additionally, there are no fees to deposit AUD into the wallet via credit card, PayPal, or POLi. Instead, only spreads apply which range between 0.75% for BTC to 4.5% for MIOTA. eToro is able to offer lower spreads for BTC due to the significant trading volume.

In Australia, eToro (as the entity eToro AUS Capital Limited or “eToro Australia”) holds an Australian Financial Services License (AFSL). The platform does not have a license to sell actual cryptocurrency assets, however, users can speculate on the crypto prices.

Pros

Cons

Types of Cryptocurrency Exchanges

Brokers

A cryptocurrency broker is a trading platform that finds the best possible prices from several large volume cryptocurrency exchanges, and presents those prices to their customer. Since these platforms tend to be designed for the beginner trader or investor in mind, the processes and steps to purchase crypto tend to be simple, quick and easy. Examples of crypto brokers in Australia include Swyftx, CoinSpot and Zipmex.

Customers will benefit from the typically high liquidity associated with high trading volumes as the amount of price slippage is reduced. A spread is typically applied to each trade and investors and traders alike should not confuse this with trading fees. The spread is the difference between the buy and sell price. 

Trading Exchanges

Cryptocurrency trading exchanges are typically marketed towards beginner and intermediate investors and traders. Most are rich in features such as order types and advanced trading charting packages. The more established exchanges typically offer a wide variety and number of digital assets that can be bought, traded and sold and this would cater to those who want to diversify their portfolios. 

Trading exchanges feature highly intuitive user interfaces with charting features and tools such as technical indicators, drawing tools and chart patterns to allow traders to analyse the price action and identify trading opportunities. Binance is an example of a popular crypto trading platform. 

Contract for Difference Providers

A Contract-For-Difference (CFD) crypto exchange allow traders to speculate on the direction of the price without purchasing the asset. This allows the trader to long or short crypto’s with leverage. Simply put, a digital asset such as Bitcoin can be traded without actually using the asset itself, but using fiat currency instead. CFP providers will typically have demo accounts available for customers to practice trading before switching to a real account. The learning curve for new traders is flattened by features such as simplified trading interfaces and charts, presentation of top performing portfolios which can be copied, and pre-set crypto in wallets. 

eToro is an example of a CFP provider designed for beginners, whilst Plus 500 is suited for advanced and experienced traders.

Futures and Derivative Exchanges

Futures and derivative exchanges such as Bybit and FTX offer advanced trading platforms that use a maker and taker fee structure for investors and traders that have a thorough understanding of limit orders and possess sound risk management principles.

Trading crypto with leverage comes with significant risks that can result in losses greater than the starting capital and are for advanced traders only. These types of platforms are excellent for customers that understand how to short sell crypto to:

  • Bet on the crypto asset value decreasing in price.
  • Increase the amount of crypto in a portfolio by profiting on price corrections during an uptrend.
  • Hedge a portfolio to lock-in gains and minimize losses during a downtrend.
  • Create significant profit potential by using leverage to borrow more money.

Our Exchange Review Methodology

There are a multitude of cryptocurrency exchanges in the Australian market and it can be difficult to understand the nuances of each and how they compare. As a result, deciding which crypto exchange is best is a challenging exercise for the everyday trader or investor.

Our mission is to provide high-quality, in-depth and accurate information on the latest products and services from each exchange. Our reviews are based on our own real-life experiences to give individuals un-biased information to assist with the decision-making process.  This includes creating a verified account, depositing funds, placing trades and withdrawing funds with each exchange and platform to gain a complete and robust understanding of the user-experience. We then evaluate and rate each Australian exchange out of 5 points.

Key factors and aspects we look for in a good cryptocurrency exchange are primarily based on what is important to the everyday Australian trader or investor. As such, our detailed exchange reviews take into consideration the following factors (but not limited to):

  • Is the exchange a reputable and trustworthy platform to invest and trade crypto? The reputability and trustworthiness of an exchange is slowly built up over time. We assess how the exchange was established, number of users, its mission and level of community perception. 
  • Is the platform interface easy to use? Beginner investors will look for simple and intuitive interface designs which clearly present how to buy, trade and sell crypto. More experienced and advanced traders will still appreciate simplicity however advanced features such as charting will be sought in order to maximise trading potential. 
  • How fiat or crypto funds are deposited to enable trading vary from exchange to exchange. Important aspects that we take into consideration are the number of deposit methods, support for AUD deposit options, minimum and maximum limits and how fast transactions can be completed.
  • The minimisation of fees incurred matters to all traders and investors. We assess and compare fees that are charged by the exchange which include deposit fees, buy and sell fees, spreads and trading fees. 
  • We evaluate the strength of the exchange’s security measures implemented to protect funds and personal information. Are they in line with regulatory authority requirements and ow do they compare against industry benchmark and standards? These may include 2FA, use of cold storage, segregation of funds, and any known reports of security breaches resulting loss or damage of held digital assets. 
  • Is the customer support team easily accessible and methods of help assistance. 

How to Choose a Cryptocurrency Exchange

There are an abundance of cryptocurrency exchanges that are available to Australians. Knowing which one to choose greatly depends on your trading goals and experience.

We have compiled a list of key factors and considerations to help you choose the right Australian crypto exchange to best suit your needs.

User Interface Experience

Our recommendation is to find an Australian exchange where the level of platform matches your level of expertise and experience. Beginners should ideally be seeking out a User Interface (UI) which is simplistic, intuitive to use and therefore making the trading experience easier and more enjoyable. Features that beginners should be on the look out for include instant deposits and withdrawals, instant buying and selling.

Based on our reviews and experience, the ease of use provided by Swyftx and Digital Surge are best suited for people starting their cryptocurrency investment journeys.

Advanced traders would require a more detailed insight into the market. A UI that offers price charts, candlesticks and graphs are features that advanced trades will look for.

Deposit / Withdrawal Methods and Limits

How you choose to deposit and withdraw funds into the exchange wallet will be a personal choice. The ease of performing, fees incurred and how fast deposits and withdrawals can be made should be items of consideration. Direct bank transfer, POLi, PayID, BPay (OSKO) and credit / debit cards are the most common options. Some exchanges will also allow deposits of certain crypto to be made. 

The fee section of each cryptocurrency exchange should be reviewed as some deposit and withdrawal methods may not be supported. The time taken to transfer funds across from an Australian bank account may vary across different financial institutions.

Another consideration is deposit and withdrawal limits. Depending on the exchange, there may be daily maximum limits of fiat currency that can be deposited or withdrawn.

Type of Trading

The type of trading you want to undertake will heavily influence the type of crypto exchange options. You will need to decide if you want to:

  • Trade fiat to crypto (e.g. AUD to BTC)
  • Trade crypto to crypto (e.g. ETH to BTC), or
  • A combination of the above.
Other key features which may influence your decision may include the ability to earn interest on your stored crypto or manage SMSF.

Fee Structure and Transparency

Customers should be aware of the various fees that may be incurred when trading on a cryptocurrency exchange. The most straightforward of these include deposit fees, withdrawal fees and trading fees between assets, i.e. crypto to crypto.

Spread fees and foreign exchange conversion fees may not always be readily presented and may be ‘hidden’ prior to a transaction. Some exchanges will clearly present the fee incurred as a separate line item. A good exchange will have a dedicated fee section which should be reviewed. Most exchanges will offer zero fees on deposits and withdrawals. A competitive trading fee should be between 0.1% and 0.5% for each transaction made. The spread is the difference between the buy and sell price for a quoted cryptocurrency.

It is important to note that some exchanges such as Digital Surge may offer fee discounts depending on the volume traded. Generally, the fee decreases if the traded volume increases on a 30 day trading volume. The implications of this are quite significant (cost savings) if larger volumes are traded.

Supported Fiat and Cryptocurrencies

Make sure that the crypto exchange supports your target cryptocurrency and an AUD trading pair is available (e.g. AUD-BTC). Most exchanges will support the dominant cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). However, with thousands of digital currency projects and coins to buy and sell, finding an exchange that supports all is not possible. Some exchanges will support BTC only and others are constantly adding new coins to their support list.

Liquidity and Volume

The larger and more established digital currency exchanges will tend to have access to greater liquidity compared to smaller cryptocurrency exchanges. Liquidity refers to how easily one asset is converted into a fiat currency or another asset. The higher the liquidity of an exchange, the easier and faster it will be to complete fiat-to-crypto and crypto-to-crypto transactions.

Methods of Verification

Australian-based exchanges are required to be registered with AUSTRAC. AUSTRAC registered entities are required by Australian law to collect customer information (known as Know Your Customer) so that a customers identity can be established. Whilst an account can typically be created with just a a full name and email address, identity verification is required before buying and trading can be undertaken. 

The information and documents required by exchanges to verify your identity differ across exchanges, however typically include full name, email address, phone number, utility bill which states your address and a copy of an Australian government issued form of identification (e.g. drivers licence, passport). 

For most exchanges, the identity verification process usually takes around 2 to 5 minutes to complete.

Account Security

Industry standard security measures for Australian crypto exchanges typically include multi-location and offline cold wallet storage of funds, a combination of hot and cold fund storage, multi-signature verification withdrawal process, and Two Factor Authentication (2FA). Other features may include user private key control, ID verification, notification on account activity (i.e. email and / or SMS), proof of reserve, email encryption and 24/7 security protocol monitoring and penetration testing by third-parties.

The security page of the exchange should be reviewed to confirm that industry standard measures and protocols are being implemented.

Legal Compliance and Regulation

All Australian-based cryptocurrency exchanges must be registered under AUSTRAC. AUSTRAC are an Australian government agency who are responsible for detecting, deterring and disrupting criminal activity within the financial sector. This includes organised crime such as money laundering. 

AUSTRAC activities are guided by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The AML/CTF Act also requires registered entities to collect information to establish a customer’s identity (KYC), monitor transactions and report to AUSTRAC transactions or activity that are suspicious or involves sum of money greater than $10,000.

Before you choose a crypto exchange, ensure that they are registered with AUSTRAC.

Available Customer Support Tools

Although most cryptocurrency exchanges will offer similar customer support features, there are some variabilities. Most exchanges will offer a Frequently Asked Questions (FAQs) page which should address the most common troubleshooting queries. In addition to FAQs, some exchanges like Digital Surge possess a dedicated knowledge base or library that presents a series of how-to guides and tutorials tailored for beginner and intermediate investors. We have found that the level of information within these libraries can vary greatly from the not so useful to the comprehensive.

Support tools to assist with immediate troubleshooting advice or assistance may come in the form of a ticket system or live chat bot. The ticket system is akin to directly emailing the exchange support team with a query however response times will vary across exchanges. We have noted that the larger and more established exchanges are more likely to offer a live chat service.

Beginner and intermediate investors alike would be well served to explore what communication and assistance tools are available for support. 

Reputation & Online Reviews

Investors should be looking for an exchange that has a strong reputation for being reliable and secure. Websites such as Trustpilot and Product Review will be able to provide insight into the experiences and feedback from current on former users of the exchange. Other online sources of customer reviews may include forum comments and social media posts. 

A quick assessment of online customers reviews will help to identify any particular issues that may be present.

How to Store Cryptocurrency in Australia

Deciding on how to store cryptocurrency in Australia comes down to two options. Firstly, digital assets can be kept in the exchanges storage system, which can be cold-storage (wallet), or a combination of hot and cold-storage. Secondly, cold-storage wallets may be used by individuals to hold crypto offline and usually in a physical state.

  • Hot storage refers to a wallet that is connected to the internet and can be accessed at any time. Examples include online cloud wallets, mobile wallets, software wallets and exchanges. Hot wallets are great for keeping an amount of crypto available for frequent buying, trading and selling. 
  • Cold-storage refers to a physical means of keeping crypto in a storage device and are only accessible by the wallet owner. Examples include hardware wallets such as CoolWallet Pro and the Ledger Nano X. Cold-wallets are not connected to the internet. 

Since hot-wallets (e.g. exchanges) are connected to the internet, funds are susceptible to loss, damage or theft, albeit the risks are low. With this in mind, investors and traders should be seeking a reputable and trustworthy exchange that has a stellar security record. The best way to mitigate against this potential risk is to store digital assets in a cold-storage wallet. 

The key function of a cold wallet is to provide an extra security mechanism between the internet-connected device (e.g. computer) and the asset. All wallets will have a private key that legitimises access to the stored asset. Most wallets usually come equipped with a variety of recovery options in case the wallet is lost or damaged. 

How to spend cryptocurrency in Australia

The number of ways cryptocurrency can be used or spent in Australia is increasing. Traders and investors can use Bitcoin to purchase goods and services using the following methods (but not limited to):

  • Direct transferring of crypto from a wallet to the recipients address.
  • Using a cryptocurrency debit card to send crypto to a merchant. The process is akin to using a standard debit card where held assets can be accessed or loaded onto the card. Some exchanges offer this services, whilst others do not.
  • Pay Australian bills directly using the Bitcoin BPAY biller code. Cointree and Digital Surge offer this service.
  • Use stored Bitcoin to withdraw AUD from a Bitcoin ATM.
  • Use crypto to purchase goods from merchants such as Mooning Market. Moon Market works similar to Amazon and eBay.

Frequently Asked Questions

What is the Most Trusted Australian Crypto Exchange?

In our opinion, CoinSpot is the most trusted cryptocurrency exchange in Australia. Since its inception in 2013, CoinSpot has reached over 1 million Australians and has earned a reputation for being a secure crypto exchange for the everyday Australian. Its reputation has enabled widespread commercial visibility and is a major sponsor of the Western Bulldogs Football Club.

Is it Legal to Buy Cryptocurrency in Australia?

The purchasing, trading and selling of cryptocurrencies and other digital assets is legal in Australia and is recognised as property by the Australian Tax Office (ATO). It is therefore subject to Capital Gains Tax (CGT). Since 2017, laws and regulations have been progressively introduced to control the crypto market. The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 mandates that all Australian-based crypto exchanges are registered with AUSTRAC and adhere to specific security requirements. 

Is Cryptocurrency Taxed in Australia?

Investors residing in Australia need to be aware of the tax consequences of acquiring and disposing cryptocurrencies. If capital gain (profit) from disposing crypto is made then a portion or all of the gain will be subject to Capital Gains Tax (CGT). The Australian Taxation Office (ATO) considers the following events as disposing crypto and are taxable

This means that you’ll be taxed for any profit you’ll make selling or trading crypto assets as you would with any other regular income.

What Is the Best Cryptocurrency Exchange in Australia?

The best exchange depends on the your investment or trading goals. However based on our reviews, Swyftx is the best overall crypto exchange to buy, trade and sell digital assets and coins in Australia. The exchange has a wide range of features that cater for for both beginner and advanced investors as well as offering low spreads due to its high liquidity. Other key factors such as the trading interface, customer service and security record are best-in-class. 

Can I Invest Australian Super Into Cryptocurrency?

Several Australian exchanges such as Independent Reserve and Digital Surge offer investors the ability to invest their super into cryptocurrencies. Self-Managed Super Funds (SMSF) require their own wallet that specifically stores cryptocurrency. Depending on the investors financial situation, SMSF may offer more control over their superannuation and retirement.

What Is The Best Crypto Swap Platform?

In our opinion, Changelly is the best crypto swapping platform to anonymously perform crypto-to-crypto exchanges. The simplistic and safe platform has been used by over 2 million customers worldwide.

What Is The Best Crypto Hardware Wallet In Australia?

The Ledger Nano X and Trezor One are two of the most popular hardware wallets in the crypto market. Both possess desirable features such as best-in-class security measures, competitive price points, simple usability and seed recovery. The CoolWallet Pro is considered as an up and coming wallet that supersedes the widely popular Cool Wallet S.

Can You Use Crypto To Pay Australian Bills?

Several Australian-based crypto exchanges such as Digital Surge and Cointree offer its customers to pay Australian bills using stored crypto assets. Bitcoin is the most commonly supported digital asset that can be used as long as there is a BPAY biller code.

Can You Buy Crypto With A Credit Card?

Crypto can be purchased using a credit card however it depends on what exchange you are using as not all with provide this service. An exchange that accepts credit card as a method to make fiat deposits will be essential. The fees are typically higher however the method provides a level of convenience. Reputable and trustworthy exchanges should be used to buy crypto with a credit card such as Binance or Coinbase