Best cryptocurrency exchanges in Australia 2023

As an ASIC-regulated broker, eToro will need you to go through a quick account opening process. To get the ball rolling, click on the ‘Join Now’ button – which you’ll best crypto trading strategy find on the homepage. Breakout trading is the process of spotting these trends when they begin and placing buy or sell orders to profit as the trend continues.

• Local traders should do their own research and determine what exchange will suit their needs best, whether that is an Australian exchange or an exchange based overseas.
• To save on costs, you might aim to learn enough to use the standard trading platforms before you make your first crypto purchase—or not long after.
• You could end up buying at a higher price or selling at a lower price than you’d want.
• With over 240 assets to buy, trade, and sell using competitive fees, Cointree is a great choice in Australia.
• Also look for customer support avenues, in particular live chat and email.

It is important to check whether the trading platform has a minimum commission in place. There are many reasons why you should stick with online trading platforms that are regulated by ASIC. However, while Commsec isn’t the cheapest trading platform in Australia, it does have some great benefits.

CoinSpot – Best Australian OTC broker

Swyftx is definitely the best cryptocurrency exchange in Australia, with low fees, a range of trading features and a passionate team. It makes buying and selling cryptocurrencies easy for beginners while also providing great options for advanced traders. Swyftx has gained a huge amount of popularity just in the last 2 years but they show no signs of stopping.

• Spot trading, derivatives trading, P2P market, and margin trading (up to 125x leverage) are all supported on MEXC.
• This means they provide immediate diversification and may be less risky than selecting individual investments.
• The platform provides a simple platform to speculate on Bitcoin and crypto CFDs in Australia or practice crypto trading using a virtual portfolio.
• You have access to a professional trading broker to assist with all aspects of incorporating cryptocurrency into your portfolio.
• Here’s an overview of the best trading platform Australia as well as some other top platforms that are worth considering.

With cryptocurrency becoming more widely adopted, it is essential that there is regulatory oversight to protect Australians, and to maintain the integrity of the crypto industry. In Australia, the regulatory body that is responsible for crypto exchanges is the Australian Transaction – Reports and Analysis Centre, commonly known as AUSTRAC. When you are trying to decide on a crypto exchange to use in Australia, there are several key criteria to consider. These include regulation and compliance, security measures, fees and spreads, user experience, and liquidity.

Australian owned and operated

Centralised crypto exchanges have beefed up security over recent years to address this risk. Among other strategies, they now store most customer assets offline and take out insurance policies to cover crypto losses in the case of hacking. For customers requiring advanced technical analysis, Coinbase offers an Advanced Trade product with additional security features. This product is a great option for traders who need access to more in-depth technical analysis tools and advanced trading features. Australian crypto exchanges must be registeredwith AUSTRAC, and comply with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation. However, this requirement has more to do with preventing criminal syndicates from laundering money; it does not imply your coins will be protected.

• While you’re ideally picking an exchange with the lowest costs, dwelling too much on the ins and outs of maker and taker fees can be counterproductive.
• The lesser-known altcoins will have a higher spread charge as the trading volume is lower.
• Independent Reserve is an extremely secure crypto exchange, and the only one in Australia to offer insurance on crypto assets, up to $5 million.
• As far as fees are concerned, like CoinSpot, the platform charges a flat fee of 1%.
• Moreover, customer funds are stored offline to minimize the risk of theft and accounts have a number of security measures to prevent fraudulent access such as 2FA.
• Similarly, crypto prices rose after the collapse of Silicon Valley Bank (SVB) earlier in the year.

The pros of using this service are that your coins will be delivered within an hour; also, the only way to verify is via a mobile number, to increase security. Before we begin, these trading sites are not a definitive list of all sites, and they are chosen based on determining factors such as site performance, security, fees, support, etc. There is no clear-cut answer to this question, as different crypto exchanges may cater to different needs and preferences. The exchange is for traders and has low fees, from 0.05% to 0.075%, depending on how much you trade and stake CRO. Users can also use DeFi features like DeFi Swap, DeFi Earn, and DeFi Wallet. It has a simple and clear interface, low trading fees of 0.9%, and many payment options with AUD.

Why shouldn’t you buy cryptocurrency?

When using the best Australia trading platforms, other brokerage fees might come into play. But, it’s calculated as a percentage, so the more you stake, the more you will pay. Crucially, the best trading platforms Australia offer super-competitive overnight financing rates. This allows you to keep your position open for longer without getting your margins eaten away at. Some trading platforms in Australia will also charge you an annual maintenance fee when you make traditional investments. If they do, this is usually a percentage fee that is multiplied by the size of your investment.

This includes licenses with both the FSA and CySEC, so safety should not be a concern. If you’re also looking to trade while on the move, Skilling offers a user-friendly mobile app. Available on both iOS and Android devices, this allows you to trade, deposit/withdraw funds, and perform research. If you prefer MT4/cTrader, you can download the respective app and log in with your Skilling account details.

Cointree – Popular Crypto Exchange In Australia

Since its establishment in 2013, CoinSpot has not suffered any security breaches. It charges a flat commission of 0.85% for all trades but deposits and withdrawals of AUD are free. With its visually appealing design and layout, beginner investors should have no trouble making their way around. All the key facets of starting and building a cryptocurrency portfolio are easily identifiable to ensure a seamless trading experience. One of the most compelling features of CoinSpot is the support for several payment methods that will cater to a broad range of Australians. They will be able to deposit AUD using POLI, PayID, BPAY, or even a cash deposit.

• In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner.
• Search for online exchange reviews, forum comments and posts on social media is a great way to see what experience other crypto investors and traders have had with the platform.
• MEXC is the best option for advanced cryptocurrency traders who value low fees, deep liquidity and a massive range of trading pairs.
• For example, its CopyPortfolios allow you to invest in a completely passive manner, as eToro will decide which assets to buy and sell.
• In addition, Binance rewards new users with a bonus of up to $100 for free using a referral code for Binance.

Therefore, it is best to choose a trading platform that offers sophisticated tools if you are a day trader or swing trader. Leverage is available on cryptocurrency exchanges such as eToro and Kraken. CRO is Crypto.com’s 12th most valuable digital coin, with a market cap of $16.6 billion. Furthermore, the company offers margin trading derivative trading and NFTs.

Are crypto exchanges safe?

As an added benefit, users can choose from KuCoin’s suite of trading bots to automate their strategies. Suitable for beginners and advanced traders alike, KuCoin provides users with free-to-use bots to reduce volatility, increase control, or automate altcoin trading. Some of the more popular trading bots include the spot grid, futures grid, smart rebalance, Dollar-Cost-Averaging (DCA), and infinity grid. Intermediate and advanced traders can use KuCoin’s world-class interfaces to place spot, margin trading (up to 10x), and futures (up to 100x) trades.

• Independent Reserve’s focus on a smaller number of digital assets means that they have deep global liquidity.
• The platform also supports demo trading with $100,000 in a free virtual portfolio.
• Ultimately, you need to break even if you pay a high fee to deposit funds.
• As an additional bonus, new users who sign up with our link can receive $100 in cashback vouchers, depending on trading volume in the first week of registration.
• Available on both iOS and Android devices, this allows you to trade, deposit/withdraw funds, and perform research.

Due to this, you will be able to trade with much tighter spreads, which will reduce your trading costs. The most important thing is that when you use a crypto trading platform with high liquidity levels, you will always find a buyer when you plan to exit a position. Depending on your location, depositing funds with a debit card may be possible. In addition, direct debit card transactions include the trading commission since these are direct purchases. Coinmama offers a straightforward way to invest in crypto, but it is important to remember that the provider charges a lot for its services. For example, each cryptocurrency price you see on the platform is typically 2% less favorable than the current market rate.

CoinSpot – Best Australian Crypto Exchange For Security

However, it is also important to consider factors such as fees, trading volumes, and availability of features when selecting an exchange. Some traders may prefer to use international exchanges or online trading platforms, which can offer lower fees and access to more advanced features. But, in the end, if you want to trade crypto online, you will need to add funds to your account first. This is because the top cryptocurrency trading platforms accept debit/credit cards.

• In our example, we are looking to trade GameStop shares, so we enter the company into the search box and then click on ‘Trade’.
• The platform provides a vast array of trading options, including exchange trading, margin trading, margin funding (P2P lending), over-the-counter markets, and derivatives trading.
• If you’re a complete novice and need a bit of guidance, following the steps below to start trading with ASIC-regulated platform eToro, our recommended best broker Australia, in less than 10 minutes.
• The process of making a Coinmama purchase should take you less than a few minutes once your Coinmama account has been verified.
• The innovative ecosystem of features that KuCoin provides combined with its vast list of supported crypto assets makes the platform a desirable place to buy altcoins.

The platform offers lower fees for larger volume traders, as with most crypto trading platforms. With Swyftx, you can buy and sell over 310+ cryptocurrencies with AUD using one of the best cryptocurrency exchanges in Australia. The company is registered with AUSTRAC and complies with KYC/AML regulations. Its rapid growth has made them one of Australia’s most popular exchanges since it opened in 2017.

Selecting a Cryptocurrency to Trade

Therefore, a $1,000 investment would allow you to diversify across five seasoned professionals. Copy Trading by eToro is the way to go if you like the sound of automated crypto trading. By doing this, you’ll be able to choose a successful crypto trader who uses eToro – based on their past performance and average monthly return. You can then copy the trade like-for-like in a transparent and regulated environment. Commissions are always charged ‘per slide,’ which means you pay them when you buy a cryptocurrency and again when you sell it. The ability to convert crypto to fiat will be available if you’re using a regulated platform.

• When a certain number of transactions are recorded, a block of those transactions is added to a long chain of previous blocks representing the chronological history of transactions in that currency.
• While the exchange’s main market is Australia, the company has expanded to other regions around the world such as Singapore and New Zealand.
• Swyftx is undoubtedly our number 1 pick for the top crypto exchange in Australia.
• KuCoin offers plenty of options for crypto enthusiasts, such as spot trading, margin trading, derivatives trading, crypto lending, crypto borrowing, crypto interest, and even NFTs.

While that is true, it’s a small trade-off for the peace of mind you receive when using Australia’s most secure exchange. Additionally, you can access much lower fees of 0.1% if you trade on the market or make OTC trades. Bybit is the best choice for frequent traders, with extremely low fees, wide range of coins, and plenty of trading markets. The tracking depends on the information that the exchanges provide to the authorities. This means that they must collect and verify the identity of their customers. Reliable customer support is essential when you encounter any issues or have questions.

Swyftx Referral Code

Then you have the Copy Trader tool, which allows you to copy another eToro trade. You can choose from thousands of verified active traders and active investors based on their historical performance and preferred strategy. When it comes to the safety of your funds, eToro is authorized and regulated by ASIC.

• What you will often find is that the best online brokers that don’t charge commission build all of their fees into the spread.
• Gemini is a user-friendly cryptocurrency exchange that is ideal for those just getting started with investing in digital assets.
• EToro makes our list of the top crypto platforms due to its demo mode, copy-trading, and social community.
• It has an easy and friendly interface that helps users to deposit Australian dollars (AUD), trade crypto, and find what they want.
• Don’t forget that you will be investing your money, so you’ll want to choose a crypto trading platform that makes the investment process seamless and easy.

You have access to a professional trading broker to assist with all aspects of incorporating cryptocurrency into your portfolio. ASIC-regulated eToro is a great option if you are looking to combine online trading with a fully-fledged investment app. Available on both iOS and Android operating systems─ you’ll have access to all of the same account features. EToro offers – a demo account facility that is pre-loaded with $100,000 and there is no requirement to make a deposit to gain access. You can use the demo account for as long as you wish and when you are ready to start trading with real money, it’s then just a case of making a deposit. Once again, this is payable at both ends of the trade – much like traditional share dealing fees.