Best Crypto Exchanges Australia 2022 – Top Picks [2022 Update]

Hello fellow readers today in this blog, we will be discussing the 10 best Crypto exchanges Australia that is safe to trade cryptocurrencies

Crypto trading platforms in Australia have become quite popular with a huge surge in bitcoin prices and various other altcoins like Doge.

It is quite intimidating for many and a lot of scams have occurred, but still, the usage of cryptocurrency exchanges is booming.

There are two different types of crypto exchanges that users can use, centralized exchange and decentralized exchange.

Best Crypto Exchanges Australia For Trading Crypto In 2022

This article has covered everything about the best crypto exchanges Australia that one should know before starting to trade, buy or sell cryptocurrencies.

We have shortlisted based on various factors such as volume, transaction fees, availability of crypto tokens, and much more.

Most of them are beginner-friendly, so even if you are new you can use them.

What Is Cryptocurrency Exchange?

As per different tutorial websites, A cryptocurrency exchange is a platform that allows investors and traders to buy cryptocurrencies.

It lists down various tokens and altcoins such as Bitcoin or Ethereum for which users can place orders.

Crypto exchanges display the current price that they offer. Based on centralization, there are two different types of cryptocurrency exchanges, decentralized crypto exchange, and centralized crypto exchange. 

In most centralized exchanges, you need to perform the KYC process to complete the due diligence and AML or Anti Money Laundering.

In centralized exchanges, the cryptocurrency that you buy is stored under the custody of the Cryptocurrency exchange admins.

They use large cold storage devices to keep your crypto tokens secure. Hence you do not need to buy any cold storage wallet until you want some extra security for your funds. 

The volume of crypto tokens majorly plays an important role to decide the liquidity of any token on the exchange.

If you are a hardcore trader and do swing trading. Then you should choose a crypto exchange that offers more frequent trades with more liquidity.

But if you are just an investor then, you don’t need to think about it. 

If we talk about decentralized cryptocurrency exchanges, they work in opposite ways. Here there is no centralized authority and you need to use your own wallet to do trading.

Basically here the centralized authority is replaced by the Ethereum Smart contracts. These smart contracts have some rules defined based on which trading happens.

Also, it allows users to provide liquidity to the liquidity pools on dexes.

Best Crypto Exchanges Australia List 2022 

• Huobi Exchange Australia
• Digital Surge Exchange Australia
• Swyftx Crypto Exchange Australia
• Coinspot Crypto Exchange Australia
• Gemini Exchange Australia
• Coinbase Crypto Exchange Australia
• Binance Crypto Exchange Australia
• CoinJar Exchange Australia
• Kucoin Exchange Australia
• Coinstash Crypto Exchange Australia

Best Crypto Exchanges Australia Reviewed 

We have reviewed the best crypto trading platforms Australia, which Australians can use to trade cryptos securely without any tensions about their funds.

Read the article till the end to know much more about exchanges.

Huobi Exchange – 3rd Largest Crypto Exchange In The World

Huobi is one of the best crypto exchanges Australia that allows users to stake, sell, buy or trade various cryptocurrencies, from small market cap to large market cap.

It has a good ecosystem of investors and traders. But due to some reasons, it has failed to gain regulatory compliance in various countries.

Also, this exchange is quite good for people who have some experience in trading due to the complexity of the features and tools.

Some of the Pros and Cons of the Huobi Exchange are:

Pros

✔ It offers huge liquidity among all cryptocurrency exchange platforms. It is quite popular for Eth/USDT and BTC/USD trading pairs.

✔ People can generate good yield by staking their cryptocurrency holdings. 

✔ It offers a variety of cryptocurrencies that you can trade. It has listed approximately 400 cryptocurrencies.

✔ The Return on Investment is quite huge. People can earn up to triple-digit returns on their investment through staking.

✔ It offers a lot of features for intermediate-level traders.

Cons

❌ It is not completely regulated and considered to be an unlicensed entity in various countries.

❌ It is not beginner friendly since it overwhelms a lot of beginner traders with a huge number of services and products.

Digital Surge Exchange – Latest Australian crypto platform

Digital surge is the beginner-friendly cryptocurrency exchange for Australians, that offers users an easy way to buy or sell cryptocurrencies at a low price.

It is a great option for all levels of traders and is competitive for its customer services and spread fees.

Digital Surge fulfills all the requirements of industry security by providing server encryption and 2-FA for users.

It is registered with AUSTRAC which makes it mandatory to follow a regulatory framework.

Although it’s a low-cost exchange it charges quite a few crypto exchange fees such as Deposit Fees, Withdrawal fees, trading fees, and Instant sell or buy fees.

Some of the Pros and Cons of the Digital Surge Crypto exchange are the following.

Pros

✔ It has got easy to use and intuitive user interface, making it easier for beginners.

✔ Charges quite a low fee when compared with different cryptocurrency exchanges.

✔ It takes up very little time to do KYC and open an account on Digital Surge. 

✔ All the details of the Cryptocurrencies from Price Notifications, to recurring purchases, are available.

✔ It has listed hundreds of cryptocurrencies including altcoins.

Cons

❌ Only People can use AUD to buy cryptocurrencies.

❌Credit cards are not allowed to make payments or buy cryptocurrencies.

SwyftX Exchange – Overall Best Crypto Exchange Australia 2022 

Swyftx is a beginner-friendly crypto trading platform for crypto traders that is available as both mobile applications and Web Applications.

It has got a license from the AUSTRAC to the Australian Transaction Reports and Analysis Center. Currently, it supports more than 260 Cryptocurrencies Including the Defi coins, Ripple, Ethereum, and Bitcoin.

It was formed back in 2017, in one of the famous states of Australia, Brisbane, and Queensland.

The fees that it charges from its trader are quite low. Hence if you want to do quite frequent trading, then this is the best choice for you.

It provides a complete guide from opening a new account to buying your first crypto. 

Some of the Pros and Cons are as follows.

Pros

✔ It adds quite good value to the trading experience of Australian investors and traders since it charges quite low fees.

✔ Offers advanced trading methodologies such as Portfolio tracking, recurring trading, much more. 

✔ No need to wait for customer support to get your queries resolved.

✔ Easy to Declare Profits from trades to ATO.

✔ It supports various Payment Methods such as debit cards and credit cards.

Cons

❌ Users from different countries need to pay huge forex fees to get AUD or Australian Dollars.

❌ Quite overwhelming for the beginner trader to use advanced levels of features.

Coinspot Exchange – Simplest Exchange In Australia

Coinspot is quite a reputable crypto exchange among other Australian crypto trading platforms. As per the statistics, around million Australian Citizens use to sell or buy cryptocurrencies.

It was launched back in 2013 to offer hassle-free services to users and traders that need to manage their cryptocurrency exchange accounts.

It supports around 300 cryptocurrencies such as Litecoin, Ethereum, Ripple, Bitcoin Cash, and much more.

You can do crypto trading at quite an economic fee. Recently, it also added the support for Defi and NFTs list.

About the legalities, It is registered with AUSTRAC and accredited with ISO 27001.

Some of the Pros and Cons of the CoinSpot cryptocurrency exchange Australia are as follows.

Pros

✔ Traders can use credit cards to make payments for buying crypto tokens, but with processing fees.

✔ You can buy or sell cryptocurrencies instantly once you are verified.

✔ Allows you to buy any type of Cryptos including NFTs, unlike other Australian Cryptocurrency exchanges.

✔ Traders can schedule automatic purchases for different tokens and NFTs.

✔ Easily switch between USD price and AUD price of the cryptocurrencies.

Cons 

❌ Quite limited volume for traders to buy but that might increase with time

❌ Advanced trading options like Margin Trading are not available.

Gemini Exchange – Next Generation Digital Asset Exchange

Gemini is another one of the best crypto exchanges Australia that offers all the basic trading activities like buying sells or holding cryptocurrencies.

There are some unique features of Gemini Exchange such as it is available as both Mobile Application and the Web Application.

Also, it allows Australian users to place orders for minimum values such as for BTC the minimum value is 0.00001 BTC, similarly to various crypto coins. 

If you are a new user then you get $150 as a bonus in the form of Bitcoin. And also there are some advanced trading platforms available for intermediate to expert level traders.

The biggest Differentiator is the Gemini Earn which allows different customers to EARN up to a 1.5% deposit on their Bitcoin Holdings.

Some of the Pros and Cons are as follows.

Pros

✔ It offers a variety of Cryptocurrencies such as Bitcoin, Ethereum, and Matic.

✔ The quite low minimum value for traders to do trading such as 0.0001 BTC.

✔ An easy-to-use Mobile Application for the beginner level of traders.

✔Available in Countries like the US and all its states.

Cons

❌ Some of the popular cryptocurrencies are not listed on the Gemini Platform. 

❌There is no facility to link Debit cards to buy Crypto tokens.

Coinbase Exchange – Top Beginner Friendly Crypto Exchange Australia

Coinbase is one of the largest crypto exchanges based in the US. It has listed over 100 cryptocurrencies.

There are some different fees that it charges from its users and are somewhat higher than the other popular crypto exchange platforms. But it offers various user-friendly features. 

There are two trading platforms that you can use for trading one is the original Coinbase and the other one the Coinbase Pro.

Both of them allow you to purchase crypto coins using AUD but for advanced Coinbase Pro, there are some additional features included such as advanced charting options that allow experienced traders to trade.

Also, users can place market Orders, Stop and limit orders on the Coinbase Pro. To attract a larger user base they have also started a new initiative called “earn while you learn”. 

Some of the Pros and Cons of Coinbase are as follows.

Pros

✔ It has listed over 100 Crypto tokens including Ethereum and Dogecoin.

✔ You don’t need to put a huge amount in your fund’s account.

✔ Coinbase offers insurance services to the users even though the website gets hacked.

✔ One of the tops ranked cryptocurrency exchanges.

✔ Quite a user is friendly for Beginners.

Cons

❌ It charges quite a huge fee as compared to various competitors.

❌ It has only 81 pairs.

Binance Exchange – Best Bitcoin Trading Platform In Australia

Binance is the popular cryptocurrency exchange in Australia. It is specifically designed for the intermediate to expert level of traders.

Users can easily use various strategies to buy and trade crypto tokens at low trading fees. 

People can use it as both a mobile Application and a Desktop application. On desktop applications, it offers a variety of features and trading options.

If you are a beginner, then you can read about their trading tutorials and resources that would help you to learn things quite quickly.

Some of the Pros and Cons of Binance Exchange are:

Pros

✔ People can trade almost every cryptocurrency from mid-cap to high market cap on the balance.

✔For the Australian customers, there are over 200 Altcoins that they can trade, without any regulatory issues.

✔This is a low fee crypto exchange for users trading or buying or selling cryptocurrencies.

✔A lot of trading options are available such as peer-to-peer trading, margin trading, and sports trading.

✔You can place different orders like limit orders, market orders, and stop-limit orders.

Cons

❌ The platform is quite complex for beginners to understand.

CoinJar Exchange – Famous Crypto Exchange In Australia

Coinjar is a cryptocurrency exchange headquartered in Melbourne, Australia.

It was established back in 2019 by two people Ryan Zhou and Asher Tan with an aim to allow Australian Citizens to buy or sell cryptocurrencies. 

Almost all the user’s funds are stored in offline wallets that are located at different geographic locations.

That keeps all the funds safe and secure. To fulfill the security policies, it offers 2 FA and data encryption. Also, it regularly gets audited by third-party security firms.

Some of the Pros and Cons of CoinJar are as follows.

Pros

✔ It has built quite an easy-to-use interface that offers a seamless user experience. Any beginner can easily use it.

✔You can use their native card – CoinJar card to purchase Cryptocurrencies.

✔Offers security features like 2FA, Data encryption, and transport layer security.

✔Natively available as the Mobile Application.

✔Users can use debit or credit cards to buy crypto tokens.

Cons

❌ Quite high fees for tokens when purchased using Mastercards or Visa cards.

❌ Limited tokens to trade as compared with other cryptocurrency exchanges.

Kucoin Exchange – Affordable Crypto Trading Platform

Kucoin is another cryptocurrency exchange app that is mostly used by Australians. It gives similar features to users to buy or sell crypto tokens.

But along with that, there are some more trading facilities available such as margin trading, future, and also P2P or peer-to-peer trading.

You can lend or stake your tokens to earn a good number of rewards since it charges quite low trading fees.

Kucoin was founded in 2017 in Seychelles, and since then it has become quite an important crypto exchange for Australians.

It allows you to trade almost 400 cryptocurrency tokens that you can sell, trade, or buy. Some of the tokens are the following: Bitcoin, Dogecoin, Polkadot, Shiba Inu, and many more.

Some of the Pros and Cons of Kucoin Exchange are as follows.

Pros

✔ It allows users to earn interest in their cryptocurrency holdings.

✔ A large number of cryptocurrencies are available for users to trade.

✔ Low transaction fees and deposit fees for the users.

✔ Has a large consumer base of more than 10 Million People.

✔ Offers a variety of trading facilities such as futures and options.

Cons

❌It got some negative reviews and ratings, unlike other cryptocurrency exchanges.

Coinstash Exchange – Exchange With Zero Withdrawal Fee

Coinstash is the Australian crypto exchange registered at AUSTRAC. Its main objective was to provide a seamless user experience to new and beginner-level Australian traders.

It has listed over 170 cryptocurrencies. Although the fee is quite huge, it’s worth it. You can use their web application to buy crypto coins and check portfolios.

As per the different customer reviews, it is among the trusted and highly secure cryptocurrency exchanges.

Also, this has been featured in various media publications like Australian Financial Review and Australian Fintech.

Some of the Pros and Cons of Coinstash are as follows.

Pros

✔ Coinstash User Interface is quite user-friendly and simple. It allows users to easily sell or buy crypto tokens.

✔ Coinstash offers a variety of features to Australian Citizens like PayID, BPay, and Osko.

✔It has listed over 300 cryptocurrencies which give people a lot of pairs to trade in.

✔Coinstash has a highly reputable team that is always there to support beginners with all their queries.

✔It does not charge any Withdrawal Fees.

Cons

❌ Exchange does not list any global cryptocurrencies.

❌ It supports only three payment Gateways for users to buy Cryptos.

The Best Crypto Exchanges Australia Compared

The table below summarises our reviews of the top ten crypto exchanges we discussed earlier.

How To Choose The Best Crypto Exchanges Australia For You?

There are dozens of cryptocurrency exchanges in Australia but only a few resonate with the objectives of long-term investors.

The volatility and speculations in the crypto tokens bring more risk for the investors despite buying them from anywhere. 

Hence it is quite important to choose the correct crypto exchange, where the security is huge and has low volatility.

There are 5 primary factors based on which you can know which cryptocurrency is correct for you to conduct trading activities.

Based on how frequently you will be doing trading, you can choose a cryptocurrency exchange.

Also, you can consider some other factors like Safety if you want to invest huge amounts.

Safety & Regulation

It is quite important to know the safety and regulation measures that particular crypto exchanges take.

As per the news source, Mt GOx and the hacking of a recent Russian cryptocurrency exchange have led people to consider security as a major factor to decide the exchange.

Also, Another flaw of cryptocurrencies is that it centers on pump-and-dump trades.

And the trading exchanges are responsible for preventing such cases and helping you to get the tokens back. 

The best way to know which crypto exchange app is more secure, you can check if it offers 2FA authentication, and what methods and cryptography it uses to keep your funds safe in cold storage.

And moreover the founders and owners of that cryptocurrency exchange.

Trading Options

The availability of the tokens is quite important to make the trades quite successful.

If you want to conduct trading at regular intervals, then the volume of exchange should be huge enough to provide liquidity.

Various advanced traders who do trading primarily always prefer to choose an exchange that offers good liquidity so they can conduct limited orders and prevent slippage by setting the margin.

A lot of cryptocurrency exchange apps also offer margin trading and leverage trading. Some of the examples are Bitmex and Binance.

Buy/Sell Crypto

There are only big crypto exchanges that list major crypto tokens such as Ethereum and altcoins like Doge.

If you have a specific token that you want to trade, then you need to look for the cryptocurrency exchange platform that has listed the token you want.

Once you find such a crypto token exchange, you can buy/sell crypto tokens and convert them back to fiat or keep them as an investment. 

You must also check the liquidity and compare it with the international standards to know if crypto coin exchange is trustworthy or not as per different factors like the authenticity and the trading mechanisms.

Trade Crypto

As we mentioned earlier in this best crypto exchanges Australia guide, For every trade that you make, you will be charged transaction fees. This transaction fee is basically the processing fee that most of the centralized cryptocurrency exchange platforms take from their users.

If you perform various other activities like margin trading then there will be some additional fees charged.

Most beginner-friendly crypto token exchange platforms offer various features at quite high fees. 

You can do some research based on which you can choose the exchanges.

If you trade crypto tokens using a debit card or credit card then you need to pay a premium, although this won’t be quite frequent because you will be only doing that to buy crypto from fiat.

Swap crypto

When you swap crypto, there are quite a few factors that you need to consider, in order to ensure that you have a seamless experience.

The two important factors are the trading volume and the availability of the coins.

If you want to conduct trade for specific pairs such as Shib/USDC or Doge/ETH, then you need to find a digital asset exchange app that supports such pairs and there is enough liquidity to conduct the trade.

If you are quite an advanced trader, then you might be swapping cryptos multiple times for different pairs, hence it is quite good to find an exchange that charges quite low swap fees for cryptos.

Australian Crypto Exchange Fees?

For every cryptocurrency exchange platform, there are different fees charged based on the working model that they follow.

In many cases for centralized crypto coins exchange, there are transaction and deposit fees that we will discuss in the upcoming section.

And some other fees are also related to NFTs and Fiat Deposit.

Deposit fee

When you buy any crypto tokens from any exchange, then you get a choice of which payment method you want to choose.

If you choose payment methods like wallets such as Google Pay or Apple Pay, then you need to pay the deposit fees to the wallet that you use to buy crypto.

Most of the wallets have variable deport fees that range from 1% to 3%.

For crypto withdrawal also, you need to pay crypto withdrawal fees that are fixed but might include some additional charges based on the geographic location such as the country where you live.

If your deposit is using the crypto from any hardware wallet, then the wallet from which you are sending it needs to pay the deposit fees.

Trading Commission

Some crypto token exchanges in Australia do charge a transaction fee which is also known as the trading commission.

Hence most of the infrequent trades and small trades are not very cost-efficient. Until and unless you decide to buy some cryptocurrency.

If you buy crypto coins then you need to pay the spot trading commission to conduct the transaction and possess that particular coin.

Spreads

Some crypto exchanges in Australia like Coinbase charge a special type of fee, also known as the spread fee.

The spread fees are the difference between the payment you do and the actual cost of the crypto.

The spread on various crypto exchange platforms is around 0.5 percent of the total sales and purchases of the tokens.

It could be even more than that if you do regular trading. If you use Coinbase, then on it the spread fee could vary based on the location and the payment medium that you choose.

However, there are no spread fees for Ethereum tokens and Bitcoin crypto tokens. 

Fractional Ownership

There are a lot of cryptocurrency exchanges that have listed various tokens of the projects that offer fractional Ownership to the users for physical entities and NFTs.

Such crypto tokens work in a similar way to various altcoins and tokens like Ethereum.

Crypto exchange platforms, like eToro, also allow you to invest as a fractional ownership trader.

It has now become quite possible to invest in parts of NFT without buying a full NFT which is quite costly.

Automated Trading

Automated trading allows Australian crypto users to buy or sell cryptocurrencies without constantly being in front of a computer.

Automated trading uses various computer science algorithms based on trading strategies. If you don’t have time to do frequent crypto trading then you can do automated trading.

Most of the automated trading platforms will charge an automated trading fee to provide such services.

Payment Methods

There are different cryptocurrency payment methods that you can utilize to buy cryptocurrencies from Fiat.

The cryptocurrency exchange platforms decide the payment gateway based on their geographical location’s rules and regulations.

Some of the payment methods could be the wallets like Amazon Pay or Google Pay, net banking, credit/debit card purchase, or even peer-to-peer payment methods.

For every payment gateway or method, the fees are different. Many times the credit card payment charges a huge crypto transaction fee.

Customer Services

The crypto coin exchanges like Kraken offer the best customer support. Although most cryptocurrency exchanges do not offer live customer support, you can still raise the tickets or ask questions on different forums.

This will help you to get the query resolved. Most of the time it takes quite a few days to weeks to resolve your query.

Once your query is resolved you can receive the notification through email. 

Best Crypto Exchanges Australia – Final Thoughts

Choosing the best crypto exchanges Australia could be quite difficult. Hence it is always recommended that you list down all the features that you need and shortlist them accordingly.

Some of the important factors you should consider are the security and transaction fees that we discussed earlier.

You should try to be aware of all the choices that you have and choose the best cryptocurrency exchange that would help you in the long run.

Also, you should not be afraid of choosing multiple crypto exchanges and signing upon them.