Best Crypto Exchanges Australia 2024

With cryptocurrency rising in popularity across Australia, there’s a growing number of exchanges to choose from if you want to start trading. Keep reading to learn more about the best crypto exchanges for Australian customers in 2023.

Despite the many catastrophes that occurred in the crypto industry over the past year, the demand for cryptocurrency from Australian investors is strong. Chainalysis ranks Australia 40th globally for crypto adoption, and more than one million Australians are expected to include crypto assets on their tax returns for the 2021-22 financial year alone, according to Roy Morgan Research.

Many of these Australians will choose to hold their crypto on an Australian-based or international exchange. Events in the past year have raised concerns about these centralised exchanges and their management of user funds, after one of the industry’s supposed leading lights, FTX, collapsed spectacularly, taking the local arms—FTX Australia and FTX Express—with it.

The fallout of the FTX collapse was felt far and wide. Not only were tens of thousands of Australian creditors left out of pocket, but, in December, local exchange, Digital Surge, also went into administration with more than half of its assets exposed to FTX.

Beyond the public downfalls, the collapse of FTX has generated a sense of unease and uncertainty. While some Australians will undoubtedly opt for alternative storage methods, many will choose to keep their crypto on exchanges. For those Australians, it’s never been more important to understand what to look for in an exchange and how to evaluate the increasing number of exchanges on offer to investors.

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This is a comprehensive guide to what we have determined to be the best crypto exchanges at present for Australia customers. In this article, we’ll look at the top exchanges, evaluating them based on a wide range of factors, including their security, fees, ease of use, and the range of available cryptocurrencies. Whether you’re a seasoned crypto trader or just starting out, this article will help you find the best exchange for your needs.

In the volatile world of cryptocurrency, nothing is certain. Our list is based on publicly available data and research, compiled by an expert team of crypto researchers and writers, but we caution our readers to tread carefully when placing money with a centralised exchange or, indeed, investing in cryptocurrency more broadly.

Best Crypto Exchanges Australia

1.Binance

Binance is a low-fee crypto trading platform with wide asset range and a lot of functionality.

• Low fees

If you look at any Binance review, one of the biggest “pros” is the exchange’s low transaction fees. The highest spot trading fee is 0.1%. Given that the costs on some crypto platforms to first deposit money and then buy crypto can total over 5%, the low fees are one reason investors use Binance for a lot of crypto investments.

• Large crypto selection

There are a lot more cryptocurrencies out there than people realize. At Binance, you can access almost 600 currencies and thousands of trading pairs. This includes decentralized finance (DeFi) tokens, stablecoins, Bitcoin (BTC), and altcoins.

• Advanced trading tools

Binance makes it easy to set a limit order to buy or sell crypto at a specific price. It has a “convert” function for beginner users, and an advanced trading interface with charting tools for more experienced traders. Its Bitcoin futures section lets people speculate on whether the price of Bitcoin will rise or fall. It also sells leveraged tokens, which let customers multiply their positions in a particular currency. Trading with leverage may lead to large gains as well as losses.

• Binance passive income

Binance offers various ways to earn passive income, with varying degrees of risk. You can earn 30% APR or more on certain cryptos in Binance staking programs, or put assets into a flexible savings account for lower but more consistent rates. The platform has more staking options and pays higher rates than most other exchanges. More advanced investors might try to earn income via adding liquidity on pairs of tokens, but this can carry different risks. With any interest earning options, it’s important to understand the risks involved before jumping in.

• Earn crypto while learning Binance

There are also educational tools with this popular trading platform. The “Binance Academy” column offers Beginner Guide to trading. The “Learn and Earn” page lets you build your blockchain knowledge, while, at the same time, earn free crypto.

• NFT Options

Last but not least, this new feature deserves a mention. You can discover creators’ and Binance’s recommended collections for NFTs, as well as see what’s trending. For this trend, Binance is ahead of the game when compared to most other brokers.

BTCC (MOST RECOMMENDED: Up to $15,015 Bonus to claim)

Founded in 2011, BTCC is one of the world’s longest-running exchanges with over 12 years of stable and secure operating history. BTCC exchange is highly recommended due to its favourable attributes such as extremely low fees, user-friendly interface, excellent customer support, and robust security measures.

Sometimes, users feel more comfortable working with an exchange if they know that the exchange has a footprint in the industry. BTCC has over 1.6 million registered users worldwide, offering trading service in US, Australia, Canada, and many other countries in Europe.

Here are some key reasons why BTCC is a good choice for you:

• Safe & Secure

BTCC places strong emphasis on security, offering multiple strict measures to ensure the safety of user assets, with no reported hacks or security breaches to date.

• Extremely Low Fees

BTCC charges 0.06% for both takers and makers, which are way below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.

• High Liquidity & Volume

One of the largest crypto futures exchange by volume and open interest, dominating the derivatives sector with huge market share.

• High Leverage for Crypto Futures Trading

BTCC offers a wide range of popular trading pairs such as BTC/USDT, ETH/USDT, ADA/USDT with high leverage up to 150x.

• User-Friendly

Simple user-friendly interface and intuitive trading platform, ideal for both beginners and advanced users. It also offers a range of educational resources and market updates to help users expand their understanding of the crypto and trade more easily.

• One-Stop Trading Platform

Apart from large crypto selection, BTCC also supports tokenized futures, allowing users to trade stocks and commodities futures with USDT. With the integration of multiple futures markets, BTCC offers a complete ecosystem to fully utilize crypto/stock/commodity assets and manage portfolio risks.

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2.Bybit

Bybit offers several trading markets, such as spot trading on over 220+ cryptocurrencies, along with derivatives (USDT Perpetual contracts, Inverse Perpetual contracts, Inverse Futures contracts and Options) for experienced traders.

If you are interested in crypto trading but not quite sure how it works, or where to begin, Bybit’s copy trading is an excellent tool. This is an automated trading strategy that allows beginners to mimic the trades of an experienced and successful trader. Beginners can quickly assimilate into the crypto space and reap the rewards of crypto trading without having to study all the technicalities for themselves.

• Very low fees: 0% for spot trading, 0.01/0.06% (maker/taker) for derivatives
• Over 220+ cryptocurrencies to trade
• Live Chat customer support on hand 24/7
• Margin trading with up to 100x leverage
• Testnet demo mode so you can practise trading with virtual play money
• Copy trading for beginners to mimic trades of successful traders and for experienced traders to earn commissions

3.KuCoin

KuCoin is one of the largest crypto exchanges in the world, and makes our list of the best crypto platforms for Australians. With plenty of trading markets, low fees of 0.1%, and over 700+ cryptocurrencies, it’s no wonder there are over 11 million users on KuCoin.

KuCoin has a wide range of features, such as spot trading, futures trading, margin trading, crypto borrowing, P2P marketplace, and NFT marketplace. If you want to earn interest on your cryptocurrencies, you can also stake your coins, or lend them to other users. No matter what type of crypto investor or trader you are, you will find a feature you enjoy on KuCoin.

• Massive range of over 700+ cryptocurrencies
• Low trading fees: 0.1% (only 0.08% if you pay using KCS coin)
• Several FREE trading bots included in the exchange
• Spot trading, margin trading, futures trading
• Stake and lend crypto to earn interest
• Extreme liquidity
• One of the world’s largest exchanges, with over 11 million users

4.CoinSpot

CoinSpot is Australia’s largest crypto exchange, packed with features, and a massive range of 370+ coins. They state that they are the most secure crypto platform in Australia.

CoinSpot has a simple user interface, perfect for beginners to crypto. It is intuitive, and easy to use on both the computer and mobile app.

One of the biggest drawcards of CoinSpot is the range of more than 370 cryptocurrencies, more than almost any other Australian exchange. If you want to invest in a coin that is not yet widely available, CoinSpot is a great place to look for it.

• The most secure and trusted crypto exchange in Australia
• Easy to use with a simple registration process
• More than 370 cryptocurrencies available to purchase with AUD instantly
• Live Chat available 24/7 to help with any issues you may have
• Earn crypto interest on 21 coins
• NFT marketplace – purchase using any cryptocurrency you like
• Supports a range of deposit methods including BPAY, POLi, OSKO, PayID, cash deposit, and cryptocurrency

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