In this guide, we have created a list of the 10 best crypto exchanges in Australia in 2023. We’ve done all the research to make choosing the best Australian crypto exchange for your trading requirements easier for you. We analyse each crypto exchange and compare their features, fees, and supported cryptos.
Cryptocurrency is becoming increasingly popular in Australia, and in 2023 Australian crypto investors will have many options when it comes to choosing a crypto exchange. However, there are many things to consider when choosing a crypto platform, such as liquidity, trading volume, fees, and safety. It can become very confusing and daunting if you’re new to the space.
So, let’s dive into our guide on the best crypto exchanges Australian investors should consider for 2023 and try to help you determine the right crypto exchange for you.
10 Best Cryptocurrency Exchanges in Australia
Cryptocurrencies are becoming more popular, so more Australian investors are looking for ways to buy and sell crypto. When finding the best crypto exchange, Australian investors are advised to find a reputable trading platform, but if you’re new, it can be difficult to choose between them.
However, there are several great crypto exchanges available to Australian investors. We’ll introduce you to some of the best crypto exchanges we have personally used. Plus, run you through some factors that lead them to be part of our top picks. We’ll also discuss the pros and cons of each one so that you can decide which one is the best crypto exchange for you.
So without further ado, let’s get started! Here is our list of the best crypto exchanges Australian investors should consider for 2023;
- Bitby
- Coinspot
- Swyftx
- Luno Exchange
- CoinJar
- Crypto.com
- Binance Exchange
- KuCoin
- eToro Australia
- Kraken Exchange
1. Bitbuy
Bitbuy is a Canadian cryptocurrency exchange based in Canada that offers a cost-effective, secure, and user-friendly platform for buying, selling, and exchanging digital assets. The platform provides a range of cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Litecoin, as well as newer ones like Bitcoin Cash and Ripple. Bitbuy is attractive to large transactions and high volumes due to its low trading fees, offering a flat fee structure for ease of use.
Bitbuy employs state-of-the-art security measures, such as encryption and multi-factor authentication, to protect user funds and personal information. It also uses cold storage and has a risk management system in place to detect and prevent fraud. The platform features a simple and intuitive interface, making it easy for new and experienced users to trade. Bitbuy also offers educational resources, including tutorials and articles, to help users learn about cryptocurrencies and how to trade on the platform.
Bitbuy Features:
With Bitbuy’s advanced trading interface, you can enjoy a seamless and professional trading experience. The platform offers several key features to help you manage your trades effectively. Firstly, you can choose between limit and market orders and either set your own prices for buying and selling or take advantage of the best available prices. The real-time order book allows you to monitor live bids and asks as they occur. This is further complemented by the market depth chart, which provides a glimpse into the potential size of your order at a specific price.
Additionally, the platform makes it easy to keep track of your orders with its order status and history feature. You can see your open, filled, and cancelled orders all in one place. The trading view charts are designed to help you visualize pricing information in the most effective way. Moreover, you can stay updated with the latest trading and market statistics, including real-time information on the last price, 24-hour volume, and percentage change.
To further enhance your trading experience, Bitbuy also offers “breakout screens” that allow you to pop out any of your preferred screens for quick access. With these features, you’ll have everything you need to make informed trading decisions.
| CoinGeko Trust Rating | ★★★★★ |
| Location | Toronto, Ontario |
| Supported Cryptos | 25 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Yes, get $20 |
2. Coinspot
CoinSpot has been a popular platform in the Australian cryptocurrency market since 2013, with over 2.5 million users. The platform’s security is unparalleled as it’s the most externally audited exchange in Australia, with ISO 27001 certification. This bolsters its reputation as the most trustworthy and secure exchange in the country, enabling users to trade on CoinSpot without any worries.
CoinSpot’s ease of use and a vast selection of over 370 cryptocurrencies have made it popular amongst users, even those who are new to the crypto space. With the ability to buy and sell crypto, users can earn interest on 21 coins while waiting for prices to rise.
Coinspot Features
In addition, CoinSpot provides 24/7 live chat support to assist users with any issues they may encounter, making it an invaluable feature for newcomers to the world of cryptocurrency.
CoinSpot recently launched an NFT marketplace where users can buy and sell NFTs using any preferred cryptocurrency. This feature removes the need for users to rely on third-party platforms like OpenSea and connect a separate wallet to purchase digital artwork. Users can easily find and purchase NFTs of their liking on CoinSpot’s platform without wasting time and fees on currency conversions. In our trial, we successfully bought an NFT using PTC from our account in less than 2 minutes.
| CoinGeko Trust Rating | N/A |
| Location | Berwick, Victoria, Australia |
| Supported Cryptos | 370 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Get $10 free BTC |
3. Swyftx
Swyftx is a top contender among Australian-based cryptocurrency exchanges, offering an array of features suitable for both novice investors and experienced traders. With a user-friendly interface, demo mode, low fees, and 24/7 Live Chat, Swyftx has become a preferred platform for many.
Swyftx currently supports over 320 cryptocurrencies that can be conveniently purchased using AUD, and the list of coins is regularly updated. Transaction fees are a mere 0.6%, and the average spreads are a meagre 0.51%. Depositing and withdrawing AUD is free, regardless of the payment method chosen, allowing for more funds to be directed towards purchasing crypto.
Newcomers to the world of crypto trading may find the experience overwhelming, but Swyftx has made significant efforts to simplify the process as much as possible. The platform features a simple, intuitive interface, and crypto can be instantly purchased or sold. However, more experienced traders can place limit orders or analyse complex graphs.
Swyftx Features:
Swyftx also offers a demo mode that can be accessed with the click of a button, providing access to $10,000 of virtual funds to experiment with various strategies without any financial risk. The demo mode reflects real-time crypto prices, allowing traders to gain practical experience and learn valuable lessons.
In the event of any issues arising, Swyftx offers 24/7 Live Chat support, where users can receive quick and helpful assistance from the knowledgeable and responsive support team. The prompt response times are especially useful for beginners who require guidance. Whenever we tested the Live Chat functionality, we were greeted by a support staff member within a couple of minutes.
| CoinGeko Trust Rating | N/A |
| Location | Brisbane, Queensland |
| Supported Cryptos | 320+ |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Yes |
4. Luno
Luno is a cryptocurrency exchange that is easy to use and has more than 10 million users worldwide. They claim to be highly secure and fully compliant with Australian regulations, so we conducted further research to confirm this. Our findings revealed that Luno is indeed 100% compliant with AUSTRAC regulations, as well as the strict AML and KYC requirements of traditional banks. Additionally, 95% of their digital assets are stored in cold storage with top-notch measures in place to protect user funds.
Due to the issues with FTX, many cryptocurrency users are cautious about trusting centralized exchanges. However, we discovered that Luno is not likely to face similar problems. They maintain a transparent 1:1 proof of reserves and undergo regular external audits, ensuring that users can withdraw their funds anytime.
Luno Features:
Luno’s interface is incredibly user-friendly, making it perfect for newcomers to the world of crypto. In fact, we tested how long it would take to purchase BTC using Luno and found it to be just over one minute! While the instant buys and sells feature is very convenient, it comes with a 2% transaction fee. For those trading larger amounts, you can save money on fees by trading on the market. As a market maker, you pay no fees; as a market taker, the fees are only 0.1%.
Furthermore, Luno offers an excellent signup offer, allowing new users to claim $30 in BTC for free. All you need to do is sign up using a specific link, activate the promo code, and purchase $30 or more of cryptocurrency. This is a fantastic way to increase your crypto investment, and it is one of the best welcome offers of any Australian crypto exchange.
The only downside to Luno is that it only supports ten cryptocurrencies. However, these are some of the most popular and traded coins, such as BTC, ETH, ADA, and SOL, making them great choices for new crypto investors. If you’re new to crypto, it’s a good idea to stick with these main coins, which will likely remain even after each bear and bull cycle.
| CoinGeko Trust Rating | N/A |
| Location | London, England |
| Supported Cryptos | 2 |
| Fiat Markets | No |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Yes |
5. CoinJar
For beginners, CoinJar is a worthwhile exchange option as it is user-friendly and offers various payment methods for deposits, including Apple Pay/Google Pay, credit or debit card, bank transfer, and even cash. With the option for instant deposits, it’s perfect for those who want to start trading quickly.
Additionally, CoinJar provides a free CoinJar card that is powered by MasterCard. You can load it with any of the 50 cryptocurrencies in your account and use it at any EFTPOS merchant, making it a convenient way to spend your crypto profits without converting them to AUD first.
However, it is important to note that CoinJar’s trading fees are relatively high at 0.1%, and they offer a limited number of coins at only 50.
CoinJar Features
If you’re a cryptocurrency user based in Australia, then CoinJar could be an excellent platform for you. One of the most significant advantages of CoinJar is that it allows you to bypass currency exchange fees that are typically charged when converting AUD to another currency. This means you can save money and avoid the hassle of dealing with exchange rates.
Moreover, CoinJar provides a convenient way for you to use your crypto in everyday life. The CoinJar Swipe debit card enables you to make purchases at any merchant that accepts EFTPOS payments. So whether you’re buying groceries, filling up your car with petrol, or even paying for your morning coffee, you can use your cryptocurrency just as you would use your traditional debit card.
CoinJar also offers a broad range of deposit payment options, including cash payments. This flexibility allows you to deposit funds into your account using a method that is most convenient for you. With all these features combined, CoinJar provides an easy-to-use and accessible platform for Australians who are interested in using and spending cryptocurrency.
| CoinGeko Trust Rating | N/A |
| Exchange Location | Melbourne, Victoria |
| Supported Cryptos | 24 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | No |
| Referral Bonus | Yes |
6. Crypto.com
Crypto.com was founded in 2016 and has its headquarters situated in Singapore. They were previously known as Monaco before being rebranded to Crypto.com in July 2018, paying between $5 million to $10 million for the domain.
Since it launched in 2016, they have become one of the fastest-growing companies in the crypto space and have over 10 million users worldwide. They continue to innovate and add more features to their platforms, such as their popular Visa debit card and, more recently, NFTs. Making it a one-stop shop for crypto enthusiasts.
Crypto.com Features:
Crypto.com offers users various features and products, including the Crypto.com App, where users can buy crypto, including Bitcoin and 100+ cryptocurrencies, with a credit/debit card or via bank transfers.
One of the most popular features is their Crypto.com Visa Debit Card, where users can receive cashback on purchases between 1% and 8%, plus free Spotify, Prime and Netflix subscriptions.
The Crypto.com exchange is their platform for users to trade crypto to crypto with more advanced order types, low fees and deep liquidity. Plus, they also have an additional range of products within the exchange, including The Syndicate, Supercharger and Lending.
There are also ways for users to stake and earn from their crypto, DeFi services and an NFT marketplace.
| CoinGeko Trust Rating | ★★★★★ |
| Exchange Location | Singapore |
| Supported Cryptos | 247 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | No |
| Referral Bonus | Up to $50 Sign-up Bonus |
7. Binance
Binance currently dominates the global cryptocurrency exchange space, making up a significant portion of the daily crypto trading volume. In our opinion, Binance is one of the best crypto exchanges for Canadian crypto investors, with a strong focus on altcoin trading. As a regular leader of Spot Cryptocurrency Exchanges in terms of traffic, liquidity, and trading volumes on the likes of CoinMarketCap, it shows that people trust the platform and that competitive prices will be available.
The crypto exchange offers hundreds of trading pairs between different digital currencies. Although Binance offers some FIAT to crypto pairs, most of its pairs are between crypto-assets. You can also start by buying crypto with FIAT from the site using 3rd parties, bank transfers or a credit or debit card. Plus, they have some of the lowest trading fees of any cryptocurrency exchange. Starting at 0.1%, these can reduce further depending on trading volumes and promotions, or you can get these even lower by using their own BNB coin.
Binance Features:
Binance offers many features to its users, making it one of the most popular crypto exchanges in Canada and worldwide. One of the most impressive features of Binance is its advanced trading platform. It offers Canadian users a variety of tools, charts, and order types to take advantage of. Binance also has a wide range of altcoins to trade, with many new coins being added monthly.
Binance also offers Canadian users the ability to margin trade and use leverage. This means that they can trade on borrowed funds and potentially increase their profits.
However, Binance is not limited to trading. It offers various financial services for Canadian users’ crypto assets, including staking, liquidity pools and swaps, derivatives, education, and its self-custody crypto wallet Trust Wallet.
Binance also provides Canadian users with plenty of security features, including two-factor authentication, cold storage of funds, and 24/7 customer support.
| Trust Rating | ★★★★★ |
| Binance Location | Cayman Islands |
| Supported Cryptos | 353 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | 20% off fees |
8. KuCoin
KuCoin Exchange is one of the newer crypto trading platforms on my list and was created in 2017; where you buy and sell cryptocurrencies in over 200 countries. They have high liquidity and a wide selection of supported digital currencies and services.
Much like Binance, this crypto exchange is another excellent option for low trading fees and is based on a user’s trading volume and on their holdings of the platform’s native token, KCS.
KuCoin boasts one of the world’s most sophisticated security technology and maintenance teams and is constantly upgrading its security systems to ensure the safety of user assets and accounts. However, KuCoin was hacked in September 2020, with hackers obtaining the private keys to the exchange’s hot wallets.
Kucoin Features:
KuCoin has many features that cater to the newbie just getting into the crypto market or the seasoned trader. New users can buy crypto directly from their site with FIAT currency via Visa, MasterCard, FIAT balances, peer-to-peer or using 3rd party providers.
Experienced traders can trade with margin, trading bots and derivatives with leverage. They also feature ways users can earn stable profits on their assets, borrow, buy, sell and swap NFTs, and they even have their own self-custody crypto wallet.
| CoinGeko Trust Rating | ★★★★★ |
| Exchange Location | Seychelles |
| Supported Cryptos | 716 |
| Fiat Markets | No |
| Maker & Taker Fees | 0.08%/0.1% |
| Withdrawal Fee | No |
| Referral Bonus | Check out Kucoin Referral Offer |
9. eToro
eToro is a popular platform for investors to trade stocks, ETFs, cryptocurrencies, and CFDs. Founded in 2007 by three entrepreneurs, the platform is now trusted by millions of customers worldwide. The aim of eToro was to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions. eToro is regulated by the UK’s Financial Conduct Authority (FCA).
There are hundreds of different financial assets to trade on eToro, which can be traded using various investment strategies. Sometimes you will own the underlying assets, such as long (BUY), non-leveraged positions on stocks and cryptos. They will also employ CFDs, enabling various options, such as short (SELL) positions, leveraged trades, fractional ownership and more.
eToro Features:
If you’re an experienced investor or a complete beginner, eToro will have you covered. Beginners can start investing in stocks with fractional shares, allowing users to own just a fraction of a single stock.
For those interested in crypto trading, clients can trade Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies. There are hassle-free deposits and withdrawals, and you can track real market data and follow each coin’s trends. Plus, they also have a staking service available for crypto HODLers, allowing users to use their crypto and earn passive income.
CopyTrader was brought to the platform in 2010 and is great for those getting started investing or who don’t have the time to watch the markets constantly. CopyTrader lets you view what real traders do in real-time and copy their trades automatically.
| CoinGeko Trust Rating | n/a |
| Exchange Location | Israel |
| Supported Cryptos | 73 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Variable |
| Withdrawal Fee | Yes |
| Referral Bonus | Check Out eToro |
10. Kraken
Kraken Exchange is one of the oldest crypto exchanges, having operated since 2013. The platform is another great option for newbies, with a simple and basic interface to get started with, whilst also being a good option for more advanced traders. It offers users more than 150 different cryptocurrencies to trade, buy, and sell.
With Kraken, users can trade with 6 fiat currencies, including USD, Japanese Yen, Canadian, British, Euros, and Australian dollars. Kraken trading fees range from 0% up to 0.26%, which is pretty low for a crypto exchange. Plus, it’s also considered a very secure space to trade digital currencies, with most of its cryptocurrency stored offline.
Kraken Features:
With Kraken Exchange, there are many trading features including; spot markets, futures trading with up to 50x leverage and margin trading to open larger positions. Plus, they offer various order types like limit, market, stop, trailing stop, and fill or kill.
Regarding staking options, with Kraken, users can stake Polkadot, Cosmos and Tezos. Plus, in some countries, you can even stake FIAT currencies such as Euros and US dollars too.
| CoinGeko Trust Rating | ★★★★★ |
| Exchange Location | San Francisco, USA |
| Supported Cryptos | 214 |
| Fiat Markets | Yes |
| Maker & Taker Fees | Charges Spread |
| Withdrawal Fee | Yes |
| Referral Bonus | Sign-up for Kraken Exchange |
Conclusion: What is the Best Crypto Exchange for Australian Investors
We have highlighted 10 of the best crypto exchanges in Australia based on factors such as security, fees, and user experience. Each of these exchanges offers unique features and benefits, so it’s important to do your own research and choose the one that best fits your requirements.
Whether you’re a seasoned trader or a beginner just starting, there’s an exchange on this list that should be perfect for you. If we have missed one of your favourite crypto exchanges available to Australian investors, let us know in the comments below.
