Best Crypto Exchanges In Australia For July 2024
Over the past few years, the crypto market in Australia has witnessed significant growth in terms of ownership and adoption. According to Finder’s Crypto Adoption November 2022 report, Australia emerged as one of the highest rates of cryptocurrency adoption globally, ranking 9th out of 26 countries for crypto adoption.
Besides, according to relevant research, the cryptocurrency user base in Australia is notably young, with a significant portion of crypto investors being under the age of 24. With growing interest in digital assets for investment, savings, and transactions, Australia has seen significant growth in crypto user numbers.
In 2024, since the approval of spot bitcoin ETFs by SEC in January 2024, regions such as Hong Kong and Australia have signaled huge interests in embracing this products. In June 3, Monochrome disclosed that its Bitcoin ETF (IBTC) would begin trading on the Cboe Australia exchange on Tuesday, June 4, with a management fee of 0.98%. Fueled by the exciting news, more investors are expected to join in this popular digital asset.
Under such favourable circumstance, it is the most significant to choose the best crypto exchange in Australia for traders looking to acquire and manage their crypto assets safely. In this article, we will explore the best crypto exchanges in Australia for your trading in July 2024, listing all points that should be considered when searching for a great Australian crypto exchange. We believe this article will offer you better insight and knowledge in the process of selecting a suitable crypto exchange in Australia.
BTCC offers 300+ virtual currency contract trading pairs with leverage ranging from 1Χ to 225Χ. If you want to start trading cryptocurrencies, you can start by signing up for BTCC.
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Quick look: the best crypto exchanges in Australia in July 2024
Coinbase vs.CoinJar vs. Cointree vs. Coinstash
Best Crypto Exchange Australia: Evaluation Criteria
How to Trade Crypto Futures Contract on BTCC?
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Coinbase
Created by Brian Armstrong in 2012, Coinbase is one of the oldest and most popular cryptocurrency exchanges in Australia. Featuring by its ease of use and simple approach to crypto investing, Coinbase has seen rapid growth over the world. Coinbase Australia is registered and enrolled with the Australian Transaction Reports and Analysis Centre (AUSTRAC). Coinbase attaches great importance on security and is well versed in protecting clients’ sensitive business data, personal information, and crypto.
| Coinbase | Key features(Pros) | Cons |
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CoinJar
Launched in 2013, CoinJar is one of the longest-running crypto exchanges Australia has to offer. Since 2013, more than 600,000 people worldwide have traded and spent billions of dollars in Bitcoin, Ethereum and dozens of other cryptocurrencies on CoinJar. With a mission of making it as simple and secure as possible for people to invest in the cryptocurrency future, CoinJar is dedicated to improving financial experiences through technology, thus being widely recognized in Australia.
| CoinJar | Key features(Pros) | Cons |
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Cointree
Founded in 2013 in Melbourne, Cointree is a leading crypto exchange helping Australians grow their wealth with the world of crypto. Thanks to user-friendly interface and relatively low fees, Cointree currently has more than 80,000 registered users. Besides, Cointree is AUSTRAC registered and requires a photo ID and some personal information in order to verify users’ account, indicating its full compliance with regulation.
| Cointree | Key features(Pros) | Cons |
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Coinstash
Founded in 2017, Coinstash stands as one of the most well established and trusted cryptocurrency exchange platforms in Australia, with more than 25,000 clients. With a mission of bridging the gap between traditional finance and the world of cryptocurrency, Coinstash offers some unique products for Australian investors including crypto bundles to diversify investors’ portfolio. Coinstash is registered with AUSTRAC and is compliant with local Australian regulations as a digital currency exchange provider.
| Coinstash | Key features(Pros) | Cons |
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Coinbase vs.CoinJar vs. Cointree vs. Coinstash
| Exchange | Coinbase | CoinJar | Cointree | Coinstash |
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Supported Cryptocurrencies |
260+ | 50+ | 240+ | 430+ |
| Safety |
Known for its strong security measures and insurance coverage for digital assets |
High security with 90% of user funds are stored using the cold method | High security, employing comprehensive measures like two-factor authentication | High security, using comprehensive measures like two-factor authentication and SSO encryption |
| Fees | Fees range between 0% and 3.99%, varies by type of transaction, which is relative high compare with major exchanges | Offer very competitive trading fees as compared to other crypto exchange platforms | Higher fees compared to some competitors | Charges maker/taker fees of 0.85/0.85% on the spot market which is high compared to some other platforms |
| User Friendliness | one of the most beginner-friendly crypto exchanges, offering rich educational materials and a straightforward trading process | Offer easy-to-use website and mobile app which is friendly to both novice and experienced traders | User-friendly interface, but lacking advanced trading features | Provide beginner-friendly user interface that streamlines the onboarding process from account creation and verification to purchasing crypto |
| Service Scope | Offer service in over 100 countries and regions | Provide service for 600,000+ customers | Limited global availability | Provide service for 30,000+ customers |
| Customer Service | Provide phone, email, and chat support | Customer support still needs to be improved | Customer support may not be timely | Offer exceptional customer service |
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Best Crypto Exchange Australia: Evaluation Criteria
When selecting the best crypto exchange in Australia, you need have several evaluation criteria when making evaluation. The following lists the major factors you need to consider when choosing the best crypto exchange Australia.
- Safety: as cryptocurrency trading is high risky, safety is the top priority for any investor. Chosing a exchange with more secure measures means your trading process is more safe.
- Supported cryptocurrencies: wider selection of cryptocurrencies means more investment options for you. With more supported currencies, you have more opportunities to obtain huge return and profits.
- Fees: fees is also one of the most important factors you need take into consideration as fees are linked to your return. High fees mean high cost and lower return, thus selecting an exchange charging relative low fee would greatly reduce your cost.
- User friendliness: user friendliness is crucial for investors, especially for newcomers. A easy-to–use platform means you spend less time and energy to learn and trade, thus making your trading journey more easy and delightful.
- Customer service: customer support is also an important evaluation criteria, especially for novice traders. Timely customer service would greatly improve your trading experience and offer you timely help and solutions.
- License held: license is also a important evaluation criteria when selecting a best exchange. A exchange obtaining a license from regulation body usually mean that it is legit to trade at this platform in this country.
- Reputation: it is advised to research that exchange’s reputation first before you sign up for an account on this crypto exchange. A crypto exchange with good reputation usually suggests this platform is more reliable and mature.
- Service scope: wider service scope means the platform owns more clients, indicating better and promising of the platform.
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BTCC (most recommended)
After introduce the above four popular exchanges in Australia, here, we would like to introduce BTCC, one of the longest-running exchange in the world, which not only boosts these advantages, but also avoids the shortcomings or offers good solutions.
As one of the longest-serving exchange in the world, BTCC is committed to making crypto trading reliable and accessible to everyone. With a mission of providing a trading platform that is fair and reliable in every sense, BTCC strives to uplift the industry’s standard for quality trading. At present, BTCC offers service in more than 100 countries and regions with more than 6 million registered users. The following sets forth the major advantages that BTCC owns compared with other major exchanges.
BTCC attaches great importance on security. Since founded in 2011, BTCC has never been hacked or been a victim of any other kind of successful malicious attack, which fully illustrates its security capabilities. Through measures like segregation of assets, 1:1 storage of users’ assets, money laundering prevention and identity authentication and no collateralising tokens for loans, BTCC enjoys good reputation in asset security.
BTCC is ranked top 10 by trading volume on both CoinMarketCap and CoinGecko, the world’s two largest crypto information platforms. BTCC prides itself on providing crypto futures trading services to users worldwide with market-leading liquidity, offering perpetual futures on over 100 cryptocurrencies, including BTC, ETH, DOGE, LTC, SOL, XRP, SHIB, etc.
Charging high fees means less return for investors. Compared with other major exchanges, BTCC only charges 0.06% for both takers and makers, which are far 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%.
BTCC holds all kinds of campaigns where investors can participate to win exciting rewards. For example, new users can get rewards up to 10,055 USDT coupon through completing relevant missions, like registration, identity verification, first deposits, cumulative futures trading volume, etc. Besides, becoming VIP also can enjoy rewards like VIP-exclusive perks, including discounts on trading fees, access to exclusive campaigns, BTCC merch, priority customer support, fast withdrawal, and many more.
Large and flexible funding options
In addition to the major digital currencies like BTC, ETH, BCH, LINK, LTC, ADA, DOT, EOS, XRP, and UNI, investors can also trade DASH, DOGE, SHIB, FIL, XLM, XMR, GRT, RNDR, EGLD, and KLAY on BTCC. BTCC offers flexible leverage up to 150x across daily and perpetual contract types, supporting a wide range of popular trading pairs such as BTC/USDT, ETH/USDT, ADA/USDT.
Excellent customer service
BTCC also gains great reputation in terms of customer support. If you are confused or have problem in the process of trading currencies, you can obtain customer support via email and live chat, BTCC offers 24/7 online customer service for you.
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How to Trade Crypto Futures Contract on BTCC?
BTCC offers Perpetual Futures contracts with leverage up to 225×, you can buy over 300 cryptocurrencies on BTCC at the most competitive price and highest security.
The following sets forth the guidance for trading futures on cryptocurrency exchange BTCC:
Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.
Step Two: go back to the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.
Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the crypto trading pair.
Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.
- Market Order: users place orders at the best price in the current market to achieve fast trading.
- Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
- SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.
Step Five: adjust the leverage multiple.
Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.
Step Six: choose the lot size and set the SL/TP price .
Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.
Step Eight: click the buy or sell button, and the crypto futures contract order is completed.
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Note: BTCC provides mode trading and offer mode trading fund. Those who want to try to start cryptocurrency contract trading and are more concerned about the fee (BTCC minimum fee can be 0%), it is recommended to start from BTCC !
BTCC Exchange FAQs
Is BTCC legit in Australia?
Of course, BTCC is legit in Australia. As one of the world’s longest-running exchanges with over 12 years of stable and secure operating history, BTCC is committed to providing a trading platform that is fair and reliable in every sense.
Can Australian Investors Trade Cryptos on BTCC?
Of course, BTCC, one of the longest-running exchange in the world, offers a comprehensive suite of services including spot trading, futures trading, and a secure wallet for both beginners and seasoned traders in Australia. Australian traders can log in BTCC to trade cryptos with highest security level and most competitive fee.
How To Open a BTCC Account in Australia?
Opening an account on BTCC is quite easy.
Firstly, you need to click the “register” button on the right corner of BTCC homepage.
Then, you can create an account using an Email ID or Mobile Number.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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