Best Crypto Exchange Australia for 2022

Martin Parks – Last Updated on July 21, 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 Exchanges in Australia

Based on our research and reviews, these are the top crypto exchanges in 2022:

1. Swyftx – Best crypto exchange overall ($20 BTC sign-up bonus)
2. CoinSpot – Best exchange for beginners
3. Independent Reserve – Best exchange for OTC purchases
4. Coinbase – Biggest US cryptocurrency exchange
5. Binance – Best exchange for day trading
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

To put together the following list, we looked at the many bitcoin 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: Best Australian crypto 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.

swyftx website

What’s more, you can use Swyftx to buy, and swap coins, with incredible ease (they also have one of the best crypto apps). 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 trading platform 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.

Pros:

  • Very user-friendly
  • Big range of cryptocurrencies
  • Fast verification process
  • Great mobile app
  • 24/7 live chat support

Cons:

  • Available only for Australia and New Zealand

Read Our Full Swyftx Review

2. CoinSpot: Best crypto exchange for beginners

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. As one of the best crypto trading platforms, Coinspot 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.

Coinspot website

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.

Pros:

  • Recurring buys
  • Easy to use
  • No withdrawal fees

Cons:

  • No advanced trading platform
  • Higher trading fees

Read Our Full Coinspot Review

3. Independent Reserve: Best exchange for OTC purchases

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.

Not just one of the best bitcoin exchanges, Independent Reserve 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.

Independent Reserve website

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.

Pros:

  • Robust security
  • OTC desk

Cons:

  • Limited number of cryptocurrencies on offer

Read Our Full Independent Reserve Review

4. Coinbase: Biggest US cryptocurrency exchange

Coinbase Logo
  • Country: United States
  • Currency: USD, GBP, EUR, and more
  • Fees: 4%
  • Available cryptocurrencies: 40+ 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 bitcoin 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.

Coinbase website

Apart from the exceptional ease of use, I’m sure that Coinbase’s popularity lies in its regulatory compliance practices. This US-based trading platform 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.

Pros:

  • User-friendly
  • Coinbase Pro for advanced traders
  • Global and trusted

Cons:

  • Expensive fees

Read Our Full Coinbase Review

5. Binance: Best crypto exchange for day trading

Binance Logo
  • Country: Global
  • Currency: Over 42 currencies
  • Fees: 0.1%
  • Available cryptocurrencies: Over 300 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.

Binance website

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.

Pros:

  • Advanced trading platform
  • Futures trading
  • Massive number of cryptocurrencies
  • Great trading fees
  • Highest liquidity on the market

Cons:

  • Not beginner-friendly
  • Customer support could be better

Read Our Full Binance Review

6. Digital Surge:  Great new crypto exchange for value

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 cryptocurrency trading platform 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.

Digital Surge website

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%).

Pros:

  • User-friendly
  • Pay bills with crypto
  • Competitive fees

Cons:

  • Credit cards not supported

7. Coinjar: Longest running exchange in Australia

Coinjar logo
  • Country: Australia
  • Currency: AUD & GBP
  • Fees: Varies
  • Available cryptocurrencies: 50+ 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 easy AUD-to-crypto purchases through their bank accounts. Moreover, it’s one of the very few Australian bitcoin 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. 

Coinjar website

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%.

Their handy CoinJar Card enables people to easily spend their crypto like cash (whether it’s online or in-store). It’s powered by Mastercard, has no fees, and earns you CoinJar Rewards with every purchase!

CoinJar is an AUSTRAC-registered business and fully complies with the local AML practices. CoinJar also employ high-security measures such as 2FA, cold and multisig online storage, and website encryption.

Pros:

  • User-friendly
  • Bundles and recurring buys 
  • CoinJar Mastercard
  • CoinJar reward points

Cons:

  • Limited range of cryptocurrencies

Read Our Full Coinjar Review

8. Kraken: Leading global crypto exchange

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 exchange to buy and sell crypto 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.

Kraken website

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 crypto trading services against the size of the trading fees, they come out as a real bargain.

Pros:

  • Great security
  • Trusted and international platform
  • Wide range of fiat currencies

Cons:

  • High minimums on deposits and withdrawals

Read Our Full Kraken Review

9. BTC Markets: Popular Australian exchange

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 cryptocurrency 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 bitcoin trading experience. With regard to fiat options, I was able to make AUD deposits through OSKO, BPAY, or PayID. 

BTC Markets homepage

On top of this, I was really glad to find out that BTC Markets 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: Newer exchange in Australia/NZ

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.

Crypto Trading

How to choose a Crypto Exchange in Australia

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 a LOT of different cryptocurrencies that you can trade with. If you already have a target cryptocurrency, ensure that the crypto exchange supports it. You can also check our altcoin buying guides to find the one you’re after.

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.

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: 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

How to use a crypto exchange

It is easy to use a cryptocurrency exchange. Most platforms have simplified the process. Here are the steps:

  1. Compare exchanges to find the one that suits your needs.
  2. Register and create an account at the exchange
  3. Verify your identity (KYC).
  4. You can fund your account with AUD by using any of the available payment options like PayID, Polipay, bank transfers or credit/debit cards.
  5. Once funds have been transferred to your account, you can start searching for the cryptocurrency that you want to trade.
  6. Click the Buy button and enter the amount in either AUD or cryptocurrency.

Best Crypto Exchange FAQs

How Do I Choose a Crypto Exchange in Australia?

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 Best Australian Crypto Exchange for Beginners?

The best Australian cryptocurrency exchange for beginners is Coinspot. Their onboarding process is very simple and the trading interface is easy to use. Swyftx comes in second place for beginners, with better fees and arguably better support. Swyftx and Coinspot both offer great mobile apps to trade crypto.

What is the Best Australian Crypto Exchange for Day Traders?

Binance is the best crypto exchange for day traders in Australia. They not only have the largest selection of cryptocurrency available, but also offer a highly advanced trading interface that allows you to place multiple orders.

What is the Biggest Crypto Exchange in Australia?

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 place to buy crypto. 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. They even have a referral code that gets you $20 of free BTC.

These findings are similar to Coinformant’s best Australian crypto exchange comparison and Crypto Head’s best cryptocurrency exchange list.

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.