The Best Crypto Exchange Australia for 2022

Martin Parks – Last Updated on January 13, 2022

So you’re keen on signing up with a crypto exchange, or maybe you want to switch to another exchange but you’re not sure where to start as there are so many these days.

We’ve done the research to bring you the best cryptocurrency exchanges to use in Australia. We’ve reviewed over 100 crypto exchanges comparing a huge range of factors. Factors including ease of use, trading fees, customer support, security and more.

Best Cryptocurrency Exchange in Australia: Top 10

Here is a quick list of our top crypto exchanges to use in Australia:

1. Swyftx – Our top pick Australian exchange for fees, support and ease of use
2. CoinSpot – Good alternative with higher fees
3. Independent Reserve – Used for OTC purchases
4. Coinbase – Biggest US cryptocurrency exchange
5. Binance – Biggest global crypto exchange
6. Digital Surge – Excellent new Australian exchange
7. Coinjar – Longest running exchange in Australia
8. Kraken – Leading global crypto exchange
9. BTC Markets – Popular Australian exchange
10. Easy Crypto – Newer exchange in Australia/NZ

Exchange Website

Rating

Currencies

Available Cryptocurrencies

Fees

Our Review

Visit Site

5/5

AUD

300+ Cryptocurrencies

0.6%

4/5

AUD

100+ Cryptocurrencies

1%

3.5/5

AUD

13 Cryptocurrencies

0.5%

3/5

AUD

29 Cryptocurrencies

4%

2.5/5

AUD

200+ Cryptocurrencies

0.1%

2.5/5

AUD

200+ Cryptocurrencies

Varies

2.5/5

AUD & GBP

25+ Cryptocurrencies

Varies

2.5/5

7+ Currencies

50+ Cryptocurrencies

0.26%

2.5/5

3+ Currencies

17+ Cryptocurrencies

0.22%

2.5/5

AUD

130+ Cryptocurrencies

0.90%

2.5/5

AUD & EUR

6+ Cryptocurrencies

0.40%

2.5/5

3+ Currencies

5+ Cryptocurrencies

0.2%

Best Australian Crypto Exchange: Reviews 2022

To put together the following list, we looked at the many crypto exchange options, reviewing their security, fees, supported currencies, and other important factors. Below are the top cryptocurrency exchanges you can use in Australia.

1. Swyftx Exchange

Swyftx Logo
  • Country: Australia
  • Currency: AUD
  • Fees: 0.6%
  • Available cryptocurrencies: Over 300 cryptocurrencies

Despite hundreds of new platforms emerging on the maturing crypto market here in Australia, Swyftx remains my top pick for local traders. The reason is pretty simple – no other crypto exchange out there can provide a sleeker environment for AUD-to-crypto transactions.

Swyftx offers 200+ cryptocurrencies that you can trade against BTC, AUD, and even USD. What I really appreciate on this platform is that with Swyftx, l never have to worry about whether I can exchange my fiat money for crypto, as the platform supports all commonly accepted payment options on the Australian ground — PayID, POLi, bank transfers, as well as credit and debit cards.

What’s more, you can use Swyftx to buy, and swap coins, with incredible ease. The user-friendly interface gives an immediate impression that Swyftx was designed exclusively for beginners. However, I could also spot some advanced options while navigating through the platform such as in-depth charing tools, which are pretty similar to what TradingView has to offer, as well as complex order types and automated recurring deposit features.

Another thing I like about Swyftx is its upfront fee schedule. The exchange will charge you a 0.6% trading fee and 2 AUD for withdrawals and deposits under AUD 200 — there is a zero fee for deposits and withdrawals above this amount.

Finally, I’d like to point out that even though Swyftx is an AUSTRAC registered company, fully compliant with KYC and AML policies, the verification process has been automated for further convenience — I was able to complete this stage in just a few minutes.

Read Our Full Swyftx Review

2. CoinSpot Exchange

CoinSpot Logo
  • Country: Australia
  • Currency: AUD
  • Fees: 1%
  • Available cryptocurrencies: Over 100 cryptocurrencies

CoinSpot is a veteran on the Australian crypto scene, robustly providing brokerage services since 2013. This crypto trading platform has never failed to amaze me with its easily navigable interface and attractive feature set. 

Similarly to Swyftx, the platform supports various deposit methods adjusted to the needs of Australian users and multiple digital currencies, ranging from prominent options like Bitcoin to lesser-known altcoins.

I share the opinion with the local crypto community, which regards CoinSpot as a very safe platform thanks to its institutional-grade security measures that protect its customers’ funds and accounts. In fact, CoinSpot was the first Australian cryptocurrency platform to receive the ISO 27001 certification for information security.

Remember that you’ll need full ID verification before making a move on CoinSpot. This includes providing a picture of a government-issued ID and a copy of a utility bill to prove your identity and residence.

On account of the impeccable customer service and user protection, let me warn you about the overpriced trading fees. CoinSpot will charge you 1% per transaction, which is much more than what is considered a standard in the industry — trading fees in the range between 0.20-0.25%. While CoinSpot is safe, easy to use, and has 24/7 customer support available, its slightly high fees are a significant downside.

Read Our Full Coinspot Review

3. Independent Reserve Exchange

Independent Reserve Logo
  • Country: Australia
  • Currency: AUD, USD, and NZD
  • Fees: 0.5%
  • Available cryptocurrencies: 13 cryptocurrencies

Independent Reserve has been around for quite a time now serving over 200,000 users since 2013. For me, it has remained one of the most trustworthy marketplaces in Australia, which should be a key factor amid the multitude of fly-by-night virtual businesses popping up every day.

The exchange offers a selection of around 10 different cryptocurrencies — which is too little for my liking but you’ll certainly find Bitcoin and other best-sellers like Ethereum, Ripple, and Cardano. AUD deposits for residents are widely accepted through PayID, POLi and wire bank transfers, which is not the case for credit and debit cards.

My first reaction to the IR interface was discouraging, as it seemed rather difficult to follow. However, after spending a bit of time on board, I realized it’s fairly comprehensive despite the multi-layered presentation of different trading options. However, it still keeps a professional touch because of the option for advanced order types, automated trading strategies, the possibility to “hire” a personalized OTC broker, and a tax calculator tool for your crypto earnings.

Regardless of the user category you belong to, I bet you’ll be perfectly fine with the IR fees that start from 0.5% and can be lowered down to 0.02% as your trading volume rises over a 30-day period.

Read Our Full Independent Reserve Review

4. Coinbase

Coinbase Logo
  • Country: United States
  • Currency: Over 40 currencies
  • Fees: 4%
  • Available cryptocurrencies: 29 cryptocurrencies

On a worldwide scale, Coinbase is my favourite marketplace for all sorts of buy-and-sell crypto activities. This exchange runs as an entry-level brokerage service providing the most amicable environment for instant crypto purchases.

Launched in 2012, Coinbase was one of the first exchanges I’ve ever visited and I can tell you that it has always been in line with the ongoing design and functional trends of crypto trading. However, it’s been a bit stiff when it comes to expanding the list of supported cryptocurrencies. Coinbase works with around 40 mainstream crypto coins and has a very strict policy known as the Digital Asset Framework that thoroughly processes the “candidate” currency metrics such as its demand, liquidity, and market capitalisation before the company decides whether to support it or not.

Apart from the exceptional ease of use, I’m sure that Coinbase’s popularity lies in its regulatory compliance practices. This US-based exchange is a FinCEN-registered Money Services Business that has obtained multiple licenses from valid financial regulators. This also means that Coinbase requires a full ID verification. 

Although Australian residents are widely welcome on the Coinbase platform, AUD-to-crypto purchases are available with debit cards only. The ease of use comes with a certain price — this service costs 3.99% per transaction.

Read Our Full Coinbase Review

5. Binance

Binance Logo
  • Country: Global
  • Currency: Over 42 currencies
  • Fees: 0.1%
  • Available cryptocurrencies: Over 200 cryptocurrencies

Binance comes next in the series of best international exchanges adapted for the Australian market. Although I’d always recommend Coinbase before Binance due to its unparalleled ease of use, you should know that Binance is a global leader in all relevant success parameters — market cap, trading volume, liquidity and traffic.

The platform targets a wider clientele with its endless list of trading options, from an immense spot-trading pit with over 400 trading pairs, margin trading, and derivatives trading, to a separate P2P market. All these options are well organized into separate modes or even separate platforms to provide smooth access for all categories of users.

Personally, the most tempting feature on Binance is their super-affordable fees. Trading fees start from 0.1% and you get an additional discount if you decide to use their Binance native token (BNB).

I was very pleased to learn that the company officially launched Binance Australia in July 2020, offering local traders instant AUD-to-crypto purchases, zero-fee deposits through PayID/Osko and the most favourable grounds for debit/credit card payments — a 1% fee per transaction.

Read Our Full Binance Review

6. Digital Surge

Digital Surge Logo
  • Country: Australia
  • Currency: AUD
  • Fees: Varies
  • Available cryptocurrencies: Over 200 cryptocurrencies

If I had to describe Digital Surge briefly, I’d say that this crypto exchange has won the Australian market with its simplicity. It’s incredible how Digital Surge makes it possible to navigate its platform and buy Bitcoin with confidence even if you’re an absolute beginner.

I have a feeling that the key goal of Digital Surge’s co-founders, Josh Lehman and Dan Rutter — proven experts in the field of financial technology — was to get cryptocurrency closer to the average traders and they’ve been doing a great job so far. Headquartered in Brisbane, Digital Surge has managed to become one of the most reliable crypto destinations Down Under in its few years of operation.

I particularly like the fact that the exchange supports around 250 different cryptocurrencies available for you to buy, sell, or trade on the intuitive DS platform. That said, you can either instantly buy or sell the supported altcoins in exchange for fiat or other cryptocurrencies or trade them on the traditional trading platform. Regardless of the preferred trading approach, Australian traders can deposit fiat money smoothly in their local currency — as for now, I can notice that Digital Surge supports only two payment options: PayID and POLi.

The fee structure is fully transparent, with variable trading fees based on whether you buy and sell crypto instantly (0.5%) or trade them on the platform (0.5% – 0.1%).

7. Coinjar

Coinjar Logo
  • Country: Australia
  • Currency: AUD & GBP
  • Fees: Varies
  • Available cryptocurrencies: 25 cryptocurrencies

I highly regard CoinJar as one of the first players on the Australian crypto scene, actively operating since 2013. It’s a well-known marketplace among the local Bitcoin community as it enables AUD-to-crypto purchases through their bank accounts (via BPAY). Moreover, it’s one of the very few Australian exchanges that allow cash funding through Blueshyft terminals. 

Concerning the main scope of operation, I’d say that CoinJar is focused on instant crypto purchases and sales. As a typical brokerage service, the exchange features easy navigation, fast transactions, and a neat interface. In return, it charges handsomely for the smooth service — 1% per transaction. Furthermore, an additional 1% is added for each fiat withdrawal settled on your Australian bank account and 1.5% if you make a deposit through Blueshyft. 

For crypto-savvy users, CoinJar offers a professional crypto trading platform with selected crypto-to-crypto pairs and, in comparison to other Australian-native exchanges, a decent selection of charting tools and market indicators. The trading fees here are drastically lower than the brokerage market, starting from 0.1%.

CoinJar is an AUSTRAC-registered business and fully complies with the local AML practices but to my knowledge, it isn’t regulated by any prominent financial entity. Despite the lack of regulatory oversight, CoinJar does employ high-security measures such as 2FA, cold and multisig online storage, and website encryption.

Read Our Full Coinjar Review

8. Kraken

Kraken Logo
  • Country: US
  • Currency: 7+ Currencies
  • Fees: 0.26%
  • Available cryptocurrencies: 50+ cryptocurrencies

If you ask me, Kraken has built its high reputation on the basis of its impeccable security standards and user protection. This US-based crypto exchange has been present in the highest ranks of the global crypto realm since the early Bitcoin stages.

Kraken’s founder, Jesse Powell, was a first-line witness of the unfortunate fall of the largest exchange at the time, MtGox, and he knew that users’ trust comes before anything else in such a volatile ecosystem.

Thus, he and his dedicated team built a reputable marketplace that, from what I’ve read, has a corporate backup by prominent financial institutions in Japan and Germany, which keep over 90% of Kraken users’ funds in cold storage. The exchange has become a mainstream brand — it provides its services across 175 countries worldwide and accepts 7 different fiat currencies including AUD.

When I tried to make an AUD deposit, OSKO was the only given option. I must point out though, the account funding was free of charge but it took nearly 2 business days to be completed. 

Finally, trading fees on Kraken are much lower than I could expect from such a robust service. They start from 0.26% and are in line with the industry standard together with the common differentiation between takers and makers. When you take into account the stability and quality of the trading services against the size of the trading fees, they come out as a real bargain.

Read Our Full Kraken Review

9. BTC Markets

BTCMarkets exchange logo
  • Country: Australia
  • Currency: 3+ Currencies
  • Fees: 0.22%
  • Available cryptocurrencies: 17+ cryptocurrencies

Established in 2012, BTC Markets is another Australian-native crypto exchange that I consider worthy of your attention mainly because of its wide field of trading opportunities and excellent customer support. My first impression was that BTC Markets was tailored exclusively for advanced crypto traders but its interface is coherent enough even to those who’re making their first moves into the crypto game. 

I really like how BTC delivers top-notch tech solutions powered by TradingView, where you can trade with 20 supported trading pairs that have either AUD or BTC as an underlying asset. TradingView ensures multi-scope charting tools and a variety of market indicators for a fully professional trading experience. With regard to fiat options, I was able to make AUD deposits through OSKO, BPAY, or PayID. 

On top of this, I was really glad to find out that BTC Market supports the most popular advanced order types such as take-profit, stop-limit, and time-in-force orders. Active users on the BTC Market can take advantage of SMSF (Self-Managed Super Fund) — a sophisticated tool for reporting taxes that operates in a personalized manner.

As for the fee structure, I want to add that for BTC-based pairs, you’ll pay a fixed amount of 0.22%, while trading fees for AUD pairs depend on your 30-day trading volume.

10. Easy Crypto

EasyCrypto Exchange Logo
  • Country: Australia
  • Currency: AUD
  • Fees: 0.90%
  • Available cryptocurrencies: 130+ cryptocurrencies

For those who insist on keeping their crypto holdings safe in their hardware wallets, I’d like to recommend Easy Crypto — a non-custodial crypto service that focuses on providing a user-friendly environment for trading cryptocurrency. The exchange was founded in 2017 and it currently has 5 registered offices across several countries, including Australia.

First, I’d like to emphasize that Easy Crypto operates on a retail level, which makes crypto trading a “come-and-get-served” process as opposed to placing orders on a chart-based platform that requires a bit of crypto fluency for proper interpretation of trading tools.

Thereby, don’t get surprised if you notice a sharp difference in trading fees while observing the features of different cryptocurrency exchanges. Retailer crypto services ensure guaranteed execution of your order as to some extent, they do “the hard job” instead of you. The fees that I came across on their page are unacceptable for me but you may be fine with them if you’re a one-off investor who prefers time-efficiency over price. Namely, you’ll be charged between 0.70% – 0.90% on every single purchase and sale on Easy Crypto.

However, there is a super-convenient feature that I like and that is the possibility to make purchases and sales directly through your bank account. This option will certainly protect you against additional multi-layer conversions, which can be double-priced or considerably time-consuming if, for example, the exchange accepts only BTC as an underlying or settlement currency.

11. ZebPay

ZebPay exchange logo
  • Country: Global
  • Currency: AUD & EUR
  • Fees: 0.40%
  • Available cryptocurrencies: 6+ cryptocurrencies

In the series of “easy-to-buy-and-sell” crypto exchanges, I’d like to present you with a Singapore-based company that has recently adjusted its services and payment methods to suit the Australian market. ZebPay has been active since 2014, and as I read on its official website, it has already served around 3 million users and reached $2 billion worth of fiat transactions.

In my opinion, the exchange has all you need for a hassle-free experience—a plain user interface and a simple order form where you’ll have to select the crypto pair on your wish list, and insert the amount you want to buy or sell. It can be such a relief for newcomers — there is no cluttered dashboard nor any in-depth market analyses.

However, before I got to this one-click buy or sell step, I had to complete a KYC verification and deposit AUD either through bank transfer (EFT) or POLi. Once I finished the virtual “paperwork”, I was able to trade immediately with all supported coins paired against AUD and enjoyed it.

With regard to the ZebPay fee schedule, I was happy to see that there are no deposit or withdrawal fees except for the small network fee imposed by the blockchain itself. Trading fees, on the other hand, are 0.4%, which is quite a bargain when compared to some local brokerage services.

Last but not least, ZebPay is a mobile-first platform and its great UI design lets me use the app without any concern about its functionality or navigation.

12. Zipmex

Zipmex Exchange Logo
  • Country: Singapore
  • Currency: 3+ Currencies
  • Fees: 0.2%
  • Available cryptocurrencies: 5+ cryptocurrencies

You may or may not have heard of Zipmex but you’re certainly familiar with the creative designer behind this digital assets exchange — Marcus Lim — the man who created Oneflare, a popular Australian online marketplace that links customers and businesses.

Zimpex is a Singapore-based exchange that was established in 2019 and from what I could see from its operational model, it targets high-net individuals and corporate investors. I was impressed to see how the Zimpex algorithm aggregates volumes from the most profitable crypto exchanges and OTC brokers out there. The results in my case were better than expected — guaranteed execution, high liquidity, and lower spreads for Zimpex traders.

Most importantly, the aggregator reduces the risks of slippage — a negative financial impact that occurs frequently on regular exchanges, when the arranged price and the settled price differ to a great extent. After collecting the price data, Zimpex utilizes the market-to-market trading practice to set the value of the available cryptocurrencies based on their last price.

The trading fees on Zimpex are 0.2%, which I find quite tempting, especially if you use Zimpex’s native coin (ZMT), which comes with an additional 50% discount in trading fees. On that account, Zimpex charged me a deposit fee of 1% while withdrawal fees will depend on the type of settlement currency.

More about Crypto Exchanges

Crypto exchanges are digital marketplaces that enable you to buy, sell, and exchange digital currencies for either other digital coins or traditional fiat currencies like AUD. While you mostly access them from your computer, depending on the exchange you choose, you can also access them via your mobile.

Cryptocurrency Trading

Some exchanges allow you to purchase cryptocurrencies using fiat currencies. Alternatively, you can register on platforms that only support crypto to crypto trading. Such platforms often have wider coin selections. Besides these, there are also other different types of crypto exchanges available in Australia, such as:

Centralised Crypto Exchanges

Centralised crypto exchanges are platforms that are governed by one uniform entity. This entity acts as an intermediary during the trading process. It will accept and fulfil trade orders, store your funds, and even purchase your coins from you. Some examples of centralised crypto exchanges include Binance and Coinbase.

Such crypto exchanges have the best liquidity and high trading volumes and offer users various advantages. Some of these advantages include:

  • They are easy to use because most of the trading process is handled for you
  • They offer excellent customer support
  • Centralised crypto exchanges tend to have low trading fees
  • You get the comfort of purchasing coins via a reputable company instead of an anonymous party

Some of the disadvantages, however, include:

  • High-security concerns due to their vulnerability to hacks
  • Centralised exchanges can be subjected to government oversight, regulations, and interference

Decentralised Crypto Exchanges

Decentralised crypto exchanges are hosted on a distributed network. Traders create buying or selling orders, and once the network matches two traders, they exchange the funds directly through smart contracts or on-chain settlements.

A significant advantage that decentralised crypto exchanges offer users is the excellent security. Because they are hosted on a distributed network, it is very difficult for attacks to harm the entire network. Other advantages of decentralised crypto exchanges include:

  • They allow you to trade anonymously
  • Decentralised exchanges do not have any government oversight, regulation, or interference
  • They allow you to buy and sell cryptocurrencies without having to pay a commission
  • Their blockchain technology helps to ensure multi-sig operations

Decentralised exchanges also have several disadvantages:

  • Because volunteers maintain them, decentralised crypto exchanges do not guarantee you a good user experience
  • Their user interface can be challenging to navigate
  • Decentralised exchanges lack customer support
  • Trading is a lot more difficult
  • The technology that governs decentralised exchanges is still largely undeveloped
Crypto Trading

How to choose a Crypto Exchange

While the different types of crypto exchanges and the numerous available options can make it daunting for anyone to choose the best option, there are certain factors that you can look for to help you make the right decision:

User-Friendliness

If you are new to crypto trading, then we recommend looking for platforms that are user-friendly and have little or no learning curves.

Supported Cryptocurrencies

There are different types of cryptocurrencies that you can trade in. If you already have a target cryptocurrency, ensure that the crypto exchange supports it.

Transaction Fees

When comparing two or more crypto exchanges, it could help to go for the one whose fees are more reasonable to you. Also, find out whether withdrawals and deposits incur costs.

Offered Payment Methods

You should also look at the payment methods the crypto exchange offers. Can you pay via a debit or credit card? In some cases, opting for a fiat-to-crypto exchange is better because you might need to deposit fiat currencies to purchase your first coins.

Security Measures

Regardless of the crypto exchange you go for, you must feel assured that your funds and data are safe. As such, always look at the security methods each platform uses. Ensure that the exchange at least offers cold storage, a withdrawal whitelist, and two-factor authentication.

Customer Support

Ensure that the customer support team is responsive. Reading some user comments and reviews can give you an insight into how helpful the exchange’s customer team is.

Offered Crypto Wallet

A crypto wallet is an essential tool for every crypto trader. If you do not have one, consider choosing a crypto exchange that offers its own wallet that will ensure your coins are kept safe and secure.

What is a Crypto Wallet?

A crypto wallet allows you to store, send, and receive your cryptocurrency in a safe environment. Crypto wallets provide you with a private key and a public address, and offer your coins more security than you can get from most exchanges.

There are different types of crypto wallets you can choose from, all offering you varying security levels. The common crypto wallets types include:

Online Wallets

Online or web wallets hold your private key online. Because these types of wallets are always connected to the internet, they are the least secure types of wallets and are prone to hacks and DDOS attacks.

Desktop Wallets

Desktop wallets are installable software that are compatible with most computer operating systems. These crypto wallets store your private key on your personal computer. As long as your computer is kept safe from malware, your wallet will be protected from attacks. Should your computer be attacked, however, your wallet and funds will be left exposed.

Hardware Wallets

A hardware wallet is a USB-like device with a screen and side buttons that allow you to navigate the device’s interface. Hardware wallets offer your funds the best possible security because they keep your private keys offline. Furthermore, some of the available hardware wallets allow you to store over 22 types of digital currencies.

Paper Wallets

With paper wallets, you print your public address and private key on paper and transfer your coins to it. While paper wallets are another secure way of storing your cryptocurrencies, they are not suitable for most people due to their technical nature. They also require high caution levels and do not support certain types of digital currencies.

Before choosing the type of wallet to best suit your financial circumstances and preferences, there are certain factors that you must consider. Some of these factors include:

  • Ease of use
  • Security
  • Backup and restore features
  • Compatibility with different operating systems
Crypto exchange charts

FAQs

How Do I Choose a Crypto Exchange?

Choosing a crypto exchange can be tricky for those who are new to the world of cryptocurrency. Fortunately, there are certain factors you can review to help you decide. Two of the most important to consider are the exchange’s security and user-friendliness.

The number of cryptocurrencies it supports is another factor you will want to consider. Looking at the fiat currencies it supports will also help, especially if you are looking to trade in AUD.

Because the aim of investing in digital currencies is to make money, looking at the exchange’s trading fees is crucial. Exchanges that have high or hidden fees will considerably lower your profit. You should also consider other factors such as the crypto exchange’s reputation, customer support, payment methods, and deposit and withdrawal limits.

What is the Biggest Crypto Exchange?

Out of the crypto exchanges we have listed above, Binance is by far the biggest. This is due to the platform’s large trading volume, expansive market reach, and high liquidity.

What is the Best Crypto Exchange in Australia?

Though Binance is the biggest crypto exchange, we would rank Swyftx as the best available option overall. The trading platform has high-level security methods, offers excellent user experience and reasonable trading fees, and with over two hundred options, supports an extensive list of digital currencies.

What is the Safest Crypto Exchange in Australia?

Though the options we have named offer adequate security, Swyftx takes the crown for the safest crypto exchange in Australia. The platform implements several state-of-the-art security measures that are sure to keep your funds and data protected.

On top of that, because the exchange is based in Australia, you get the significant benefit of having the platform’s headquarters in close proximity. This allows you to enjoy better customer support and have all your concerns promptly attended to.

Who Has the Most Bitcoins?

Though no one knows his true identity, Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has the most Bitcoins. Sources estimate that he owns around 1.1 million coins.

Why are Bitcoin Fees So High?

Bitcoin is currently the most popular digital currency in the world. Its popularity has led to an increase in global Bitcoin transactions. This has made it increasingly difficult for miners to mine Bitcoins and verify transactions. Because miners get paid from the transaction fees, they have begun prioritising transactions that have higher fees; a trend that has increased Bitcoin fees.

Where Do Bitcoin Transaction Fees Go?

Bitcoin transaction fees are paid to the miners as a reward for verifying transactions and generating Bitcoins.

Though the world of cryptocurrency is extensive, the information we have provided you with here is an excellent introduction for those looking for the best crypto exchanges in Australia.