Best Crypto Exchange In Australia In 2022

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In this article, we share our findings on the best crypto exchanges in Australia. We have searched and tested 133 exchanges based on 8 distinct categories. We analyzed all characteristics of their service, including costs, platforms, apps, assets, deposits & withdrawals, customer service, security, and liquidity. 

The best-rated crypto trading platforms are in the list below. 

Top 6 Crypto Exchanges In Australia

  1. Binance – Well-established cryptocurrency trading platform with large trading volumes and liquidity.
  2. Coinbase – Great trading platform and low trading fees.
  3. eToro – Great copy trading tool, regulated by top tier one authorities.
  4. Kraken – Great Bitcoin exchange founded in 2022. Sophisticated trading tools for experienced investors.
  5. CEX IO – Great assets coverage and crypto margin trading.
  6. Capital.com – Discount broker with great educational content and resources.

Best Crypto Exchanges In Australia – List

ExchangeOverall ScoreGeneral infoFees (Maker/Taker)Spot Volume (BTC)
#1Binance4.3Best altcoin portfolio0.1% /0.1%$806,899,070
#2Coinbase4.4Best crypto trading platform1.99%/1.99%$451,706,550
#3eToro4.9Best overall crypto exchange1%/1%$2,739,612
#4Kraken4.5Most trusted exchange0.16%/0.26%$53,964,331
#5CEX IO4.6Most asset classes0.01%/0.00%$808,571
#6Capital.com4.7Great educational content and resources0.16%/0.26%$45,734,111

This section below breaks down the best crypto trading platforms in Australia, beginning with the best-rated Binance.

01. Binance: Best Overall Crypto Trading Platform In Australia 

Binance-crypto-exchange

Binance is a leading crypto exchange in Australia with secure services and high-volume trading platforms. It offers access to an excellent crypto trading app with a competitive fee structure and professional order types. Binance offers high spot trading volumes and a comprehensive portfolio. 

This exchange offers premium account features, including staking rewards. Traders receive bonuses based on the assets they hold in their accounts. Binance has an advanced trading app suitable for experienced crypto enthusiasts. 


02. Coinbase: Best Exchange With A Straightforward Interface 

coinbase-cryptocurrency-exchange

Coinbase is a trustworthy crypto exchange with a straightforward platform interface. It offers secure crypto exchange services for traders at all levels. The Coinbase main platform offers 101 assets, rewards, and fast trade execution. 

This exchange offers an FDIC insurance of up to $250,000 for each account holder. Coinbase stores 98% of users’ funds in cold storage and uses industry-leading safety protocols. It offers many funding methods, including Visa card deposits.  


03. eToro: Best Exchange With Social Trading Services 

etoro-exchange-logo

eToro is a well-known social trading broker with access to excellent proprietary platforms and exchange services. It offers industry-leading crypto services with the eToroX exchange. This exchange provides premium tools and features, fast execution, and APIs. 

This broker has user-friendly platforms and access to 42 digital coins. eToro has top-tier licenses and follows strict rules. It has low withdrawal fees and a minimum deposit requirement of $200. 


04. Kraken: Best Exchange For Bitcoin Trading 

kraken-exchange-logo

Kraken is a top crypto exchange with an excellent reputation and secure services. It uses industry-leading technology and offers access to outstanding Bitcoin trading features. Kraken has a good coin selection and offers popular coins, including Litecoin, Ethereum, and Bitcoin. 

The Kraken platform is simple to use. It offers fast buy and sell services with the lowest trading fees in the industry. Kraken has many learning tools and a quick buy feature. High-net-worth traders receive access to management services. 


05. CEX IO: Best Exchange With A Good Coin Selection 

cex-io-exchange-logo

CEX IO is a top choice for traders searching for a reliable and intuitive crypto exchange platform. It has a good coin selection and offers access to 91 crypto asset classes. CEX IO has excellent availability worldwide. 

This exchange has advanced features and collateral loans. CEX IO has high trading costs for debit/credit card transactions. We recommend this exchange for advanced traders. 


06. Capital.com: Best Exchange With Excellent Learning And Research Resources 

capital-com-rating

Capital.com is a well-established discount broker with engaging educational content and resources. This platform has many crypto features, including professional research tools. Capital.com offers many tradable assets, including stocks, commodities, indices, forex pairs, and CFDs on cryptos. 

Capital.com is a secure platform with top-tier licenses. It offers a secure mobile trading app and a professional web platform. It has competitive fees with a low minimum deposit of $20. 


How To Select A Crypto Exchange? 

The main factors to consider when selecting a crypto exchange include trading costs, apps, platform availability, assets, deposits & withdrawals, customer service, liquidity, and security. 

Fees: You shouldn’t use an exchange that has high fees on trades, overnight commissions, and hidden costs. 

Trading Platforms: Choose a platform with an intuitive interface and easy-to-use services. 

Mobile Trading: Australian crypto exchange apps have to offer the same tools and services as their other versions. 

Deposit & Withdrawal: Look for an exchange that provides access to your preferred deposit and withdrawal methods. 

Assets: Coverage of the leading asset classes is a must for a good trading experience. Avoid crypto exchanges that don’t offer popular altcoins. 

Customer Support: New crypto traders should search for reliable and responsive customer service available in their language. 

Liquidity: Search for a crypto exchange platform with high trading volumes and liquidity. This will guarantee you will manage to sell your assets. 

Security: Choose a regulated exchange with proof of funds and penetrations tests. Australian crypto exchanges with top-tier licenses follow strict rules and use industry-leading safety protocols. 

*Safety Risks For Australian Citizens

A trustworthy cryptocurrency exchange for Australian citizens is government-regulated and has a trading license. Larger exchanges have a banking history.

Regulation Of Cryptocurrency Exchanges in Australia

The Australian Securities and Investments Commission (ASIC) manages the regulation of cryptocurrency exchanges in Australia. All crypto exchanges registered in Australia must follow strict AML and CFT standards and obtain a license from the Australian Transaction Reposts and Analysis Centre (AUSTRAC). The ASIC oversees all crypto exchange activities in the country and ensures all providers follow strict rules. Unauthorized exchanges might face charges and penalties. 

Is Cryptocurrency Trading Legal in Australia?

Trading cryptocurrencies in Australia is legal. The ASIC is the main financial regulatory body in the country and ensures Australian traders receive access to secure crypto trading services. Crypto coins are treated as consumer goods and might be subject to capital taxation. 

How to Start Trading WithBinance

Binance is a secure cryptocurrency exchange with professional platforms and an attractive mobile app. It offers excellent services with rewards and bonuses for all Binance users. The main steps to follow to trade with Binance are below. 

Step 1: Go to the Binance official website 

Access the Binance main website under this link here –  https://www.binance.com/en

Step 2: Find and click on the “Register” button 

Click on the “Register” button and choose a method to open a new account. Binance offers many account opening solutions, and traders can choose between an email or a phone number. 

Step 3: Pass account verification 

Binance is a secure exchange that requests all users to verify their accounts. You’ll have to submit personal information and upload a copy of your official ID to verify an account. 

Step 4: Buy digital assets with Binance 

You can start buying, selling, or holding fractions of an asset after you pass account verification. You don’t have to buy a whole coin to own it.  

Conclusion

We recommend Binance as the best crypto exchange in Australia. It offers industry-leading exchange services with a secure app, a comprehensive portfolio, and intuitive interfaces. Coinbase is our second choice because of its professional customer service and portfolio.

FAQ

What Is A Centralized Exchange? 

A centralized exchange is a secure private company that offers crypto trading platforms. Centralized exchanges follow strict rules and use industry-leading safety protocols. These exchanges request verification and identification under the Know Your Customer rule.  

What Is A Decentralized Exchange?

A decentralized exchange (DEX) is an exchange services provider that doesn’t follow the rules of any regulatory body. It works as a server and keeps a copy of the entire exchange on different computers. A DEX uses an “automated market maker protocol.” It relies on liquidity pools managed by users, and it is risky. DEXs don’t use a central trading desk or order book.

How To Buy Cryptos Through An Exchange? 

Centralized exchanges allow users to deposit fiat money from a credit/debit card or a bank account. These exchanges allow users to swap fiat currency into crypto coins.  

Can You Own Cryptos In Australia? 

You can buy and hold cryptos in Australia with a trusted crypto exchange platform. 

Is Crypto Trading Legal Tender In Australia? 

Bitcoin and other digital coins cannot be used for commercial purposes and are not considered legal tender.  


Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Disclaimer

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Past performance is not an indication of future results. Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.