Best Crypto Wallets Australia-23-04-2022

Best Crypto Wallets Australia: Which is the Most Secure Cryptocurrency Wallet?

In this article, we are going to cover the best crypto wallets Australia and provide a detailed review of all the present market leaders. their features, pros and cons, fees, and much more.

When the mode of transactions is changing with every passing second, the search for a stable, decentralized, unregulated, and safe fiat alternative is catching speed. This is the time when you can start investing small amounts into future transactions to make a future-proof wealth that will only multiply in its value.

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Best Crypto Wallet Australia: Top Picks 2022

The recent trends in the cryptocurrency have led to the widespread popularity of these digital assets all across Australia and the traders are willing to shift to a modern trading solution from traditional stock markets.

Best Crypto Wallets Australia-23-04-2022

Potential future trading in Australia will also require safe and user-friendly crypto storage solutions which not only provide secure storage for digital assets but also provide the latest features on the go.

Without putting things on hold, let’s dive right into the world of the best crypto wallets Australia.  

Best Crypto Wallets Australia List [2022]

  • Trust Wallet – Most Popular Bitcoin Wallet Australia
  • Binance Wallet – Overall best crypto wallet Australia
  • Atomic Wallet – Wallet with most exchange compatibility
  • Ledger Nano X – Overall best crypto hardware wallet Australia
  • Exodus Wallet – Best Beginner-friendly crypto wallet in Australia
  • Trezor Wallet – Top secure Bitcoin hardware wallet in the market
  • Coinbase – Most trusted crypto wallet in Australia
  • Swyftx Wallet – Native crypto wallet for Australians
  • Coinspot Wallet – Best user-friendly crypto wallet app
  • Mycelium – Most Secure Bitcoin wallet Australia

What is a Crypto Wallet?

Before we start discussing the best crypto wallets Australia, let’s get some background on what is actually a crypto wallet. A crypto wallet is an online or offline storage that stores the private keys for your digital assets.

crypto wallet

These crypto wallets do not store any of your cryptocurrencies or tokens in them as the coin never leaves the blockchain. These wallets only store a key which proves the fact that a particular amount of cryptocurrency is owned by the owner of that key.

So these private keys become extremely critical because if they get public anyone can prove the ownership to the blockchain and redeem the amount. Crypto wallets ensure that these keys are secured in a safe and easy-to-access encrypted environment. 

How Do Crypto Wallets Work?

Crypto wallets are the storage solutions for your blockchain private keys. These storages make sure that these private keys are stored in extremely safe and encrypted cloud or hardware storage and strictly accessible to only that person who added them to the wallet.

Various gatekeeping features are being placed before the encryptions could be unlocked and the private keys could be shared. Most of the good crypto wallets do not store the private keys directly with them as the keys are encrypted with either 128-bit encryption or 256-bit encryption.

These encryptions are decoded with the passwords or the seed phrases of the users and hence, not even any employee working for these storages can see any of your private keys. 

What To Look For In A Crypto Wallet 

Now that we know what a crypto wallet is and how it functions we are going to discuss some of the properties of a crypto wallet that every user must keep in mind before selecting a crypto wallet for their digital assets. 

Security

When it comes to choosing the best crypto wallet Australia for your digital assets there is nothing that ranks above in importance than security. Security of your crypto private keys is the most significant reason for you to use a third-party storage solution.

If the security protocols offered by a crypto wallet are of the industry-standard then only you can trust it with keeping your investments safe but if there is something that is not looking right then the only thing which you should do is to look out for a better alternative right away.  

Wallet Utility

Apart from storing your crypto private keys, crypto wallets also offer some other features which can be used by the customer to have a smooth crypto flow. If your wallet does not support sharing and swapping of your crypto tokens then you will have to do that manually which could be a tiring task.

On the other hand, if your wallet has a lot of DApps integrations with it then you will be able to automate most of the tedious processes involved in the crypto exchange and that can make things easy for you. This is the reason wallet utility is something that you must take into consideration. 

User Experience

Another important aspect while choosing the best crypto wallets Australia is the user experience that the wallet is providing to its users. If a crypto wallet is only web-based then you would not be able to keep a track of things without carrying a PC, on the other hand, if the crypto wallet is only on smartphones then it becomes hard for regular large-scale crypto transactions.

The user interface of the website and mobile applications also plays a crucial part in the user experience. Conclusively it’s customer support that becomes the bedrock of a great customer experience. 

Reputation

You must be wondering why the reputation of the wallet matters, but the thing is that the crypto market is still at its initial stage and different companies are emerging every day. In these regular market disruptions, choosing a crypto wallet that has a market reputation and is trusted by most of the experts can save you from losing your assets to an unknown wallet.  

Supported Cryptocurrencies

If your cryptocurrency wallet is not supporting the coins in which you are planning to trade then there is no use having that crypto wallet in the first place. A user must be aware of the coins which are being supported by the crypto wallets as all the wallets do not support all the coins.

If you have a trading plan and know your priorities in terms of targeted tokens then choosing the right crypto wallet app will become easier for you.  

Cost

Finally, the reason you are looking out for your cryptocurrency wallet is to deploy a sustainable and long-term investment strategy that can create wealth for you in the future.

This means you know the value of money and investing in the best crypto wallet can change the overall experience that you get while trading cryptos. Hence, you must be aware of the different charges and costs of having a wallet app of your choice. 

Top 10 Crypto Wallets Australia Compared

Wallet Coins SupportedTrading FeePriceWallet App
Trust 1 Million+1%FreeYes
Binance 500+0.10%FreeYes
Atomic 500+2%FreeYes
Ledger Nano X1800+169 AUDYes
Exodus 150+Spread OnlyFreeYes
Trezor 1816+84 AUDYes
Coinbase500+1.49%FreeYes
Swyftx300+ 0.6% FreeYes
Coinspot350+0.1%FreeYes
MyceliumBitcoin OnlyFreeYes

Best Crypto Wallets Australia Reviewed

Now, we are beginning our list of best crypto wallet for Australians by keeping in mind the specific need of Australian crypto traders. We will discuss different aspects of each of these wallets and try to provide you with a detailed overview of each of these cryptocurrency wallet solutions. 

Trust Wallet: Most Popular Bitcoin Wallet Australia

Being one of the leading crypto wallets in the world, the Trust wallet is a clear-cut table topper in our list of best Australian crypto wallets.

Trust Wallet

Coming from the house of Binance Trust wallet was launched in 2017 and now Trust wallet has become the most used crypto wallet in the world. Trust wallet comes with a modern user interface in its smartphone applications for Android and iOS. 

Trust wallet is one of those crypto wallets in the market that does not charge a fee from their customers and offers completely free wallet services, however, a small blockchain fee is charged.

Trust wallet supports almost all the crypto coins that you can find over the internet with extremely wide support of over 1 million digital assets for its wallet users. Trust wallet also supports transactions in AUD and hence could be the best crypto wallet for Australians.

Pros

  • Trust wallet is the most used crypto wallet app in the world
  • A wide range of crypto support for users, covering over 1 million digital assets
  • User-friendly and interactive mobile applications to stay updated with your transactions always
  • No storage fee for its users makes it an ideal choice for those users who are willing to save their cryptos without spending too much on a wallet. 
  • Advanced security features such as biometrics, code scanning, and 2-factor Authentication are available for extra security

Cons

  • Trust wallet app is still a crypto hot wallet and not suitable for those who are looking for a hardware crypto wallet
  • No recovery methods are available if you lose your seed phrase

Binance Wallet: Overall Best Crypto Wallet Australia

Even though Binance owns the above-mentioned Trust wallet, they also have their integrated wallet for their extremely popular trading exchange.

Binance Wallet

Binance wallet started along with their crypto trading exchange in 2017 and became an instant hit due to its solid features. The Binance wallet app does not charge any wallet fee or deposit fee from Binance users but a small transaction fee is charged at the time of withdrawal for the blockchain node.

Binance crypto exchange supports all the major coins present in the market and keeps updating its list for adding newer blockchain projects. Presently Binance crypto wallet supports more than 500 cryptocurrencies from around the world. 

Binance also allows its users to stake their assets for a fixed annual interest, which makes it ideal for those who are looking to generate a passive income from their investments.

Binance wallet also ensures support for Australian Dollars (AUD) to cater to Australian users. If you are living in Australia and already using the Binance exchange as your trading platform then the Binance wallet app could be a suitable crypto wallet for you. 

Pros

  • Integrated with the leading crypto exchanges of the world
  • A wide range of crypto tokens is supported
  • Users can also use debit or credit cards to pay
  • Wide user base and welcoming community
  • Advanced tools are available

Cons

  • Tools can be confusing for new users on the platform
  • No email-based customer support is available

Atomic Wallet: Wallet With Most Exchange Compatibility

Founded in 2017, Atomic wallet is another market leader in the list that has become a popular choice amongst the Australian masses.

Atomic-Wallet-

Atomic crypto wallet is known for its compatibility with almost all the platforms out there and emerges to be a perfect choice for those users who are willing to use their wallets on almost all the platforms including Android, iOS, Web, Mac, and Linux.

The Atomic wallet app also delivers a swift swapping feature for those users who want to transfer their cryptos on the go in a single click. 

The atomic wallet supports over 500 crypto tokens along with all the major blockchain projects and stable coins. This wide range of support allows Australian crypto traders to deploy a variety in their portfolios to avoid the risk.

This simple to use and interactive crypto wallet is compatible with all the Australian authorities which makes it one of the best crypto wallets Australia. 

Pros

  • Atomic wallet ensures a KYC and AML for the new users
  • A large pool of cryptocurrencies available
  • simple and interactive crypto wallets available in the market
  • user’s private keys are stored in cold wallets
  • Staking features is also available to earn an interest

Cons

  • Do not support any hardware wallets
  • Not the best customer support in the segment. 

Ledger Nano X: Overall Best Crypto Hardware Wallet Australia

The first hardware wallet entry into the list of best crypto wallets Australia is none other than the Industry leader Ledger Nano X.

Ledger NanoX

Ledger Nano X hardware crypto wallet was launched in 2014 and presently leads the crypto hardware wallet world. If you are someone who knows the gravity of having extreme privacy, then Ledger Nano X wallet is something for which you can go.

From smart asset management to providing a completely non-interactive environment for your private keys, Ledger NanoX wallet goes to the extreme extent of deploying effective security measures.

Ledger NanoX cold wallet presently supports over 1800 cryptocurrencies present in the blockchain. Ledger Live also allows you to connect your crypto wallet with your smartphone without any wire in between using Bluetooth connectivity.

The simple design and easy-to-use features make it one of the most user-friendly hardware wallets present in the market. Buying a brand new Ledger NanoX Bitcoin wallet will cost you 169 AUD and a small blockchain transaction fee will also be charged. 

Pros

  • One of the safest crypto wallets
  • Comes with a sleek and subtle hardware design
  • Bluetooth connectivity features to ensure easy key-signature
  • Pure cold storage wallet, your keys never leave the wallet. 
  • Comes with a battery that can last up to 8  hours. 

Cons

  • One of the costliest crypto wallets in Australia
  • Do not have a touch screen for easy navigation. 

Exodus Wallet: Best Beginner-Friendly Crypto Wallet In Australia

Another popular choice in the market is none other than Exodus wallet. Launched in 2015, the Exodus wallet app does not charge a fee to its users and like any other wallet charges a nominal transactional fee at the time of withdrawal.

Exodus wALLET

Exodus wallet is one of those crypto wallets that cannot have access to the private keys of their users. Before getting saved into the Exodus wallet’s hot storage all the private keys are encrypted with 256-bit Encryption on the user’s device itself. 

With support to over 150 cryptocurrencies of the market, Exodus bitcoin wallet ensures a decent bandwidth to their users for deploying a variety in their trading portfolio.

Exodus being a non-custodial crypto wallet, does not require your personal information but that also adds to the fact that if you forget your seed phrase then recovering your crypto keys from Exodus crypto wallet is next to impossible.

Finally, if you are looking for an online hot wallet with a non-custodial preference then Exodus wallet could be the best wallet in Australia for you. 

Pros

  • Helpful and self-explanatory user interface
  • Non-custodial online wallet
  • No need to go through the long KYC process
  • Available on both desktop and smartphones
  • Good customer support

Cons

  • No recovery methods are available
  • A customized network trading fee is only available for certain cryptocurrencies. 

Trezor Wallet: Top Secure Bitcoin Hardware Wallet In The Market

From 2013 to 2022, the Trezor hardware wallet is one of those few hardware wallets in the market that has seen the rise of blockchain technology and still withstanding while cryptocurrencies are entering a new era.

Trezor Wallet

If you have been trading crypto in Australia for a long time then you must have heard about Trezor wallet in the past. Trezor wallet is known for its extreme security measures, portability in design, ETH integration, Two-factor Authentication, and other fascinating features.

You can get your hands on a Trezor wallet for around 84 AUD and then all you have to pay is a small transaction fee. 

Trezor wallet supports 1816+ cryptocurrencies present in the market. It can store all kinds of crypto assets, be it NFTs or other Defi project keys. All the keys stored in the wallet never leave the device as all the transaction signatures are done on the device itself.

If you are someone who is willing to use a hardware wallet and do not want to spend too much on flagship devices then Trezor could be the best hardware crypto wallet in Australia for you.  

Pros

  • Cost-effective hardware wallet
  • Top-notch security protocols
  • Secure Admin SSH access along with ETH integration
  • DApps support different functions for enriched user experience
  • A large pool of supported coins to choose from. 

Cons

  • Not-so trendy design. 
  • Accessories can be really expensive

Coinbase Wallet: Most Trusted Crypto Wallet In Australia

If you are trading in blockchain tokens then it’s hard to believe that you never heard the name of ‘Coinbase’. Coinbase is one of the world’s leading crypto trading exchanges and is widely used by Australian crypto traders.

Coinbase Wallet Australia

Coinbase wallet is a product from the same company and has become a table topper with the exciting features and trust that it has created over years. Launched in 2012, Coinbase was an integration to the trading platform but now has matured to become a complete crypto wallet solution. 

One of the features that most software wallet misses is being adaptable with a crypto hardware wallet and Coinbase can do that pretty easily.

Coinbase wallet claims to support 500+ blockchain projects and digital assets in its wallet and has a detailed KYC process to know its user base accurately. Coming from Coinbase’s background, the Coinbase crypto wallet is widely trusted by Australian users and could be the greatest among the best crypto wallets Australia. 

Pros

  • Have a wide user base
  • Industry-standard security protocols for secure gatekeeping
  • Detailed KYC for all new users
  • Comes with hardware wallet support
  • Well funded by the parent company

Cons

  • Do not store Bitcoin
  • Hot wallet as most of the keys are stored in the cloud. 

Swyftx Wallet: Native Crypto Wallet For Australians

Launched in 2018, Swyftx is a crypto wallet based in Australia and could be an ideal choice for those Australian crypto investors who are looking for a native crypto wallet solution.

Swyftx Wallet

Swyftx offers minimal spreads and low withdrawal fees from its users and the adaptability with Australian Dollars makes it a perfect choice for those people who are looking out for fiat AUD support.

With no deposit fee and 300+ cryptocurrency support, Swyftx is one of those crypto wallets which have a loyal customer base. Swyftx also supports Bank Transfers, Poli, OSKO, and PAYID making it one of the best crypto wallets for Australians. 

Pros

  • Made in Australia and one of the best Australian crypto wallet
  • Low withdrawal fee
  • Australian payment options are available
  • Integrations with Swyftx trading exchange
  • Transparent and easy to access the crypto wallet

Cons

  • Technical aspects on the back-end need polishing
  • Need some time to become a global crypto wallet solution

Coinspot Wallet: Best User-Friendly Crypto Wallet App

Another Australian entry into the list of the best crypto wallets Australia is none other than Coinspot wallet. Launched in 2013 and based out of Melbourne, Coinspot is providing its services not only to Australian traders but also to users from around the world.

Coinspot Wallet

Coinspot charges a fee of 0.1% for trading but for their cryptocurrency wallet, you can get completely free withdrawals if you are using AUD for the transactions, making it the best crypto wallet for Australians.

It has its own mobile applications that allow you to keep a track of your digital assets on the go and enables OTC crypto transactions. Coinspot wallet supports over 350 cryptocurrencies from around the world and has native support for Australian payments methods.

So if you are looking out for a crypto wallet that is smooth, safe, and Australian then Coinspot could be the best crypto wallet Australia for you. 

Pros

  • User-friendly and interactive mobile applications
  • Support AUD and do not charge a withdrawal fee if traded in AUD
  • Uses native Australian payment methods
  • Wide range of cryptocurrency support. 
  • Have live chat support for customers 

Cons

  • As of now, Coinspot does not support any Visa cards
  • AI-driven trading tools can be added for a better experience

Mycelium: Most Secure Bitcoin Wallet Australia

The final entry in our list of top Australian crypto wallets is an open-source crypto wallet that has been in the picture for quite a long time.

Mycelium Wallet

One of the major highlights or the drawbacks of the Mycelium wallet could be the fact that it is made only as a Bitcoin wallet and does not have support for other leading projects in the market.

The ranging features of Mycelium crypto wallets are presently restricted only to computers but the mobile applications are under development and will soon hit the markets. The security protocols used by the Mycelium wallet are based on keeping things as simple as can to avoid any loopholes in between.

The Mycelium wallet fee can range from 0.8and above. Launched in 2008, the Mycelium wallet could be one of the best crypto wallets Australia if you are planning to invest in Bitcoin and looking for a simple and easy-to-use crypto wallet.  

Pros

  • One of the oldest crypto wallets in the market. 
  • Made solely for Bitcoins to avoid any confusion
  • 100% open source
  • Good security protocols in place
  • An integrated market for all kinds of digital assets

Cons

  • Could be a costly option when compared to other wallets
  • Do not have a mobile application as of now

What Are The Different Types Of Crypto Wallets In Australia?

In this segment, we are going to discuss different types of crypto wallets that are available for the users and give you a brief introduction to them. 

Software Wallet

These are crypto wallets that are based over the internet and store your cryptocurrency private keys in either cloud storage or dedicated cold storage facilities. In these kinds of wallets, your crypto keys are not in your hand and handed over to an organization with trust in between.

These wallets are also called soft wallets or hot wallets. Some primary examples are Trust wallet, Binance Wallet, Metamask, and eToro wallet.  

Hardware Wallet

If you do not trust giving your keys to any third-party solution then hardware wallets could be your way to go. Hardware wallets are physical storage solutions that can store your private keys in an encrypted format and do not let them be exposed to the internet. These are also called hard wallets or cold wallets. Some primary examples include Trezor wallet and Ledger hardware wallet.  

Paper Wallet

A paper wallet is another level of security for your keys as you do not trust anything digital and want to keep your private keys printed out with yourself. These printed keys are kept in safe places that make sure that any digital catastrophe would not result in losing out your digital assets. 

Web

Web-based crypto wallets are soft wallets only that allow you to store and use your private keys right from your browsers. They can work on their secure websites or you can add them as an extension to use them for instant transactions. 

Why Do You Need a Crypto Wallet in Australia?

After talking this much about the crypto wallets in Australia the main question remains the same: why do you need a crypto wallet in the first place? A crypto wallet is a storage that stores your private keys in a secure and encrypted format.

Your private keys prove your exclusive ownership of a particular blockchain node and thus if leaked or lost can lead you to a loss of your ownership of the asset. Hence, to avoid that and keep your crypto keys safe from unwanted breaching crypto wallets are required and this is the reason why you need crypto wallets in Australia. 

Best Ways To Keep Your Crypto Wallets Safe? 

Keeping your crypto wallet safe using good digital hygiene practices is as crucial as choosing the right crypto wallet for yourself and in this segment of this best crypto wallets Australia article, we are going to share how you can keep your crypto wallets safe. 

Pick Your Password Carefully

Let’s start from the basics, we often ignore how important passwords have become in our lives, and choosing an easy to guess password is nothing but a crime against yourself. One must choose random long phrases which are extremely hard to guess and can take years of brute-forcing attempts to crack. 

Enable 2-Factor Authentication

Enabling two-factor authentication on your crypto wallet is also essential as it adds another layer to the security of your wallet. To advance the 2-factor authentication you can also use advanced authenticator applications such as Google Authenticator and Aegis which keep your OTPs secure all the time using strong encryptions. 

Don’t Use Public Wi-Fi

It becomes very easy for hackers to access local files on your device if you are using public WiFi for any Banking or financial transactions. You can leave the digital footprints which can trace back to some important information on your device. 

Private Key Protection

There is nothing more critically important than securing your private key with all the possible measures as it proves your ownership over your digital assets and if leaked to someone the ownership can be claimed by that user without any other restriction.

If you keep your crypto private keys safe and hidden from the entire world then only you can enjoy the exclusive ownership of your assets. 

How To Get The Best Crypto Wallet In Australia? 

In this segment of this best crypto wallet Australia article, we are going to discuss how you can get the best crypto wallet in Australia by following some easy steps. eToro is one of the best crypto wallets for Australian investors. To get a new crypto wallet account on eToro follow the below-mentioned steps carefully. 

eToro app

Open an Account On eToro

The first thing you have to do to set up your eToro wallet is to create a user account on the eToro website. Now you have to click on Sign Up in the top right corner of the screen. After that, you will land on a sign-up page where you will have to enter your personal information and other contact information after which your eToro account will be created instantly.  

Download The Etoro Money App

After creating an account on the eToro website, now is the time to reach out for your smartphone. All you have to do is to go to the Google Play store on your smartphone if you are using Android or App store if you are using iOS.

From there you can download and install the eToro money app that will act as the mobile crypto wallet for your digital assets. Here you can sign up with your eToro account credentials and create a crypto wallet for yourself.

Deposit Your Digital Assets In The Etoro Wallet

After logging into your eToro money app you have to click on the deposit options. Once you click on the deposit button you will have to enter the amount which you would like to add to the cryptocurrency wallet and select your cryptocurrency according to that. Once done you can authorize the transaction from the other end so that your eToro wallet can receive your digital assets. 

Best Crypto Wallets Australia – Conclusion

Choosing the right crypto wallet app for your crypto assets is as critical as choosing the right cryptocurrency to invest in. Researching the right spaces and pinning down your choices as per your needs can be crucial while hunting for the top crypto wallet in Australia.

Security, user interface, accessibility, price, cost of transactions, fees, and customer support are some of the key pillars over which you must develop your crypto wallet choices. 

In this best crypto wallets Australia guide, we tried our best to provide you with a detailed overview of what a crypto wallet is, how it functions, and what are the key aspects that one must consider before choosing the perfect wallet for oneself.

We hope that this article will provide you a great value while researching the best crypto wallet in Australia and assist you in making an informed decision

Best Crypto Wallet Australia FAQ 

Q) What is the best wallet for crypto in Australia?

Ans. It highly depends on your needs. If you prefer a hardware wallet then Ledger NanoX will be the right choice however, for a soft wallet you can go with Swyftx or Trust wallet. 

Q) Which Bitcoin wallet does Australia use?

Ans. Trust wallet and Biance wallet are two of the most widely used Bitcoin wallets in Australia and can be termed as the best crypto wallets in Australia.  

Q) Is Coinbase Safe Australia?

Ans. Yes, it is perfectly safe to use Coinbase in Australia. 

Q) Which crypto wallet in Australia has the lowest fees?

Ans. Trust wallet and Binance wallet do not charge a fee from their users. Hardware wallets like Ledger Nano X do not charge a fee after the initial investment and only a small transactional fee is paid. 

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