With so many crypto exchanges available for Australians, it can be difficult to find the right options that provides the best overall user experience. To help you cut through the noise, we have put together a list of the 5 best crypto trading platforms in Australia.
- CoinSpot - Best overall for Crypto Trading, NFTs, Staking and SMSF/OTC
- Independent Reserve - Best for Institutional Investors and High-Net Worths
- SwyftX - Best for Low Fee Instant Swaps
- Binance Australia - Best for Futures Trading and other Advanced Features
- Coinbase Australia - Best for Beginners, but Expensive
Our ranking criteria is based on usability & features, trading fees, available assets, security and staking rates. Each factor is equally weighted when making the final decision.
- Australia's Largest Exchange with over 2 million users.
- 370+ Cryptocurrencies to trade starting at 0.1% fees.
- NFT Marketplace, Crypto Staking, Crypto ETFs and more.
Table of Contents
CoinSpot Australia - Best Overall Exchange
CoinSpot is Australia's largest digital assets trading platform with over 2 million users across the country. They are one of Australia's older crypto exchanges as well, having been founded in 2013 by Russell Wilson.
The CoinSpot boasts Australia's widest range of crypto-products which include:
- Most Cryptos: Over 370 cryptocurrencies to buy, sell and swap.
- Crypto Staking: A crypto staking product that allows you up to earn 70% APY on coins.
- NFT Marketplace: Australia's best NFT Marketplace and NFT Wallet for Ethereum digital collectibles.
- OTC Desk: An award-winning OTC Desk for high-net worth investors and institutions.
- Best Fees: Low fees starting at 0.1% for Market Orders on the CoinSpot exchange.
- Secure Crypto Wallet: A secure Crypto Wallet for users to custody their tokens.
- Deposit Methods: Bank Transfer, POLi, PayID, Osko, BPAY, Cash and more.
The main advantage of CoinSpot over other cryptocurrency exchanges in Australia is that they are a true all-in one crypto platform. It is one of the only exchanges in Australia that offers over 300 coins, crypto staking and even an NFT Marketplace all on one platform.
It is for that reason we believe that CoinSpot is the best cryptocurrency exchange in Australia. For more information, read our CoinSpot Review.
Independent Reserve is Australia's most trusted exchange that was awarded Australian cryptocurrency exchange of the year in 2019. Most notably, they offer a simple user interface, competitive fees and the best cryptocurrencies including all of the latest DeFi tokens.
Independent Reserve's exchange is available to customers worldwide, however their key focus is in Australia, New Zealand and Singapore. In terms of fiat deposits, they also accept AUD, USD and NZD as shown above.
Their exchange offers one of the widest rangest of deposit methods available in Australia including PayID/Osko, EFT, POLi and SWIFT. This makes it easy for Australians and New Zealanders to quickly onboard and buy Bitcoin and other cryptocurrencies due to their great range of on-ramps.
- Features: 30 + Cryptos, OTC Desk, SMSF Support, Institutional Investor Onboarding.
- Trading Fees: 0.5%.
- Fiat Currencies: AUD, NZD, USD and SGD.
- Deposit Method: Bank Transfer, PayID or SWIFT.
Another important thing to note is that Independent Reserve has one of the best track records in the world in terms of being a cryptocurrency exchange that has never been hacked. They are well known in Australia for their security and are one of the only cryptocurrency exchanges around the world that offer insurance on crypto assets.
Independent Reserve are also considered one of the best exchanges for Over the Counter (OTC) trades and Self Managed Super Fund clients that are interested in diversifying into cryptocurrency.
Swyftx is a cryptocurrency exchange based in Brisbane Australia that offers a simple platform for Australians to buy, sell, trade and invest in over 100 different cryptocurrencies. Their exchange is designed for simplicity and is focused of making it easy for new users to invest in crypto.
Their platform offers an extremely wide range of features including automated dollar cost averaging, instant buys, rapid verification, buy with a Credit Card or Debit Card and much more.
- Features: 300+ Cryptos, Cryptocurrency Staking and SMSF support.
- Trading Fees: 0.6%
- Fiat Currencies: AUD and NZD.
- Deposit Method: Bank Transfer, Debit Card, Credit Card and PayPal.
The SwyftX managed wallet enables clients to safely store all of the differency crypto assets that are listed on the SwyftX platform. Although the SwyftX Wallet, or any other exchange wallet for that matter is secure - we would still recommend that users withdraw their assets into cold storage. For more information, read our SwyftX Review.
Binance is a digital asset exchange with offices in multiple countries, including Australia. Binance offers a spot trading platform for major digital assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), and more. Binance also offers margin trading and has a futures platform. Binance was founded in 2017 by Changpeng Zhao and Yi He. Binance is headquartered in Malta.
- Features: 700+ Cryptos, Derivatives Trading, NFT Marketplace, Staking & more.
- Trading Fees: 0.5%.
- Fiat Currencies: AUD, EUR, GBP, SGD, NZD, USD & 20 more.
- Deposit Methods: Bank Transfer, Debit Card, Credit Card, PayPal, Osko and PayID.
Binance Australia is a subsidiary of Binance and is based in Sydney, Australia. Binance Australia allows users to buy and sell cryptocurrencies with Australian dollars (AUD). Binance Australia offers a secure and easy-to-use platform for buying and selling cryptocurrencies.
Binance has a strong focus on security. Binance uses two-factor authentication (2FA) to help protect user accounts. Binance also offers a Secure Asset Fund for Users (SAFU), which provides insurance for user assets in the event of a hack. To date, Binance has not been hacked.
Coinbase is one of the most popular exchanges in the world . They offer a platform for buying, selling and storing cryptocurrencies. Coinbase is headquartered in the United States and has offices in Europe, the UK, Canada, Australia and Singapore. Coinbase offers a variety of services including a Coinbase wallet, a GDAX exchange, merchant tools and a Coinbase Pro exchange.
- Features: 40+ Cryptos and Coinbase Wallet for DeFi Applications
- Trading Fees: 2%.
- Fiat Currencies: AUD and USD.
- Deposit Methods: Debit Card or Credit Card only.
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase allows you to buy and sell Bitcoin, Ethereum, Litecoin and other cryptocurrencies. You can also use Coinbase to store your cryptocurrencies. Coinbase is one of the most popular exchanges online and has over 10 million users. Coinbase has received over $200 million in funding from investors including Andreessen Horowitz, Union Square Ventures and Ribbit Capital.
Coinbase is available in 32 countries and supports fiat currencies including USD, EUR, GBP, CAD and AUD. Coinbase allows you to buy cryptocurrencies with a credit card or debit card. Coinbase also has a Coinbase wallet that you can use to store your cryptocurrencies.
What is the Best Crypto Exchange for Altcoins?
If you are an altcoin trader, you will need to find an exchange that has a wide variety of cryptocurrencies and are fast to list new coins. If this sounds like you, the cryptocurrency exchange with the most altcoins is CoinSpot. They offer over 350 different assets, with SwyftX coming in at second with 300 in total.
If you are comfortable trading on global exchanges, Gate.io is a great platform for very long-tail altcoins. You can read our extended Gate.io Review for more information.
Best Cryptocurrency OTC Desk in Australia
Independent Reserve is the best Crypto OTC Exchange if you are looking for deep liquidity to buy over $200,000 AUD worth of a cryptocurrency like Bitcoin, Ethereum, Polkadot, Cardano or other coins. They are Australia's premier over-the-counter (OTC) desk that provides a white-glove service for high net worth and institutional investors.
They will provide you with an account manager to oversee your entire OTC crypto buying experience. Their platform is a licensed company under ASIC and is under the regulatory purview of AUSTRAC.