Best Crypto Exchanges in Australia May 2024
Researching cryptocurrency exchange in Australia? Here are some of the best Australian crypto exchange options to explore in 2024.
How to pick the best crypto exchange in Australia
The best cryptocurrency exchange in Australia will have an excellent track record regarding security; for the most part, few have had significant issues regarding being hacked. The best crypto exchange is a personal choice, so you will need to research and make a decision that suits your needs. So, to help you protect your investment, the team at Koinly Australia has rounded up a list of some of the best Australian crypto exchange options in 2024. In doing this, we have looked at safety, the minimum deposit size, the diversity of coins, their key selling points, whether they have a mobile app, the number of users, and what makes them stand out.
Best crypto exchanges in Australia
| Exchange | Cryptocurrencies | Trading Fees | Deposit | Withdrawals | Payment Methods | KYC? |
|---|---|---|---|---|---|---|
| Coinbase | 200+ | 0% to 0.6% based on trading volume | Free | Limit dependent on payment method | PayID, debit card, bank transfer | Yes |
| Swyftx | 320+ | 0.6% | Free | Max $100,000 | Bank transfer, card, PayID and POLi | Yes |
| CoinJar | 60+ | 0% to 1% | Free, minimum $10 | Capped monthly on account level | PayID, Blueshyft, FPS, SEPA, Fedwire | Yes |
| Independent Reserve | 30+ | 0.5% to 0.02% based on trading volume | Free over $100 | Max $100,000 | EFT, PayID, Osko, Swift | Yes |
| CoinSpot | 360+ | 0.1% to 1% | Free, minimum $1 | Free, no maximum | Debit/credit cards, POLi, PayID | Yes |
| Easy Crypto | 150+ | 0.7% to 0.9% | Free, minimum $50 | Free, maximum $500,000 | Credit/debit card, bank transfer, POLi Pay | Yes |
| BTC Markets | 20+ | 0.85% and 0.10% based on trading volume | Free, minimum $1 | Free, no maximum | Okso, BPAY | Yes |
| Kraken | 190+ | 0% - 0.16% makers, 0.10% - 0.26% takers | Free, minimum $1 | Capped daily on account level | Credit/debit card, Apple Pay, Google Pay | Yes |
| Cointree | 280+ | 0.25% to 0.9% | Free, minimum $20 | Capped monthly on account level | PayID, bank transfer, cash deposits | Yes |
| Coinstash | 430+ | 0.85% | Free | Limit dependent on payment method | PayID, bank transfer | Yes |
Coinbase
Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader crypto-economy. Coinbase Australia is registered and enrolled with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Coinbase FAQs
Is Coinbase safe?
Coinbase is committed to the highest cyber security principles in the industry and is a leader in the crypto economy, securing and safeguarding the assets of the largest institutional clients and millions of global retail users. The exchange makes continuous investments in operational security, as well as research and development. As one of the oldest crypto exchanges around, Coinbase is well versed in protecting clients' sensitive business data, personal information, and crypto, with a rapidly growing security team experienced in traditional security, blockchain security, and crypto-asset protection.
How many cryptocurrencies are on Coinbase?
You can trade more than 200 cryptocurrencies securely on Coinbase.
Does Coinbase have a mobile app?
Yes, the Coinbase app is available on both iOS and Android.
What fees does Coinbase charge?
Coinbase has tiered maker and taker fees based on your trading volume. Makers will pay between 0% to 4%, while takers will pay 0.05% to 0.6%. See the Coinbase fee schedule for more information.
Are there any deposit and withdrawal limits on Coinbase?
It depends. Coinbase generally doesn't impose limits on crypto sales to fiat currency, but may impose limits on crypto purchases based on your country and selected payment method (you can view your limits in your account settings).
Does Coinbase have KYC?
Yes, Coinbase Australia is registered with AUSTRAC as a digital currency exchange. Coinbase requires users to provide a photo ID as part of their onboarding process, and Coinbase utilises vendors to review users' personal information against public record databases before a user is provided with any Coinbase services.
Swyftx
Swyftx was founded in 2018 and has since become one of the best crypto exchanges Australia has to offer. Swyftx also services investors in NZ. Swyftx takes pride in its customer service, user-friendly interfaces, and educational content for beginners. They currently have more than 300,000 active users on the platform and are looking to expand their offering into the UK and Canada. Is Swyftx legitimate? Yes! They follow industry best practices and are registered with AUSTRAC.
Swyftx FAQs
Is Swyftx safe?
Swyftx has a dedicated security team in place, so if you're wondering, is it safe to keep crypto on Swyftx? The answer is a resounding yes! The main purpose of this team is to protect customer data and assets via the use of measures like, data encryption, 2FA, biometric authentication, breached password detection, and the cold storage of assets. They’re also ISO27001 compliant, which is an international standard on how to manage security information.
How many cryptocurrencies are on Swyftx?
Swyftx offers an excellent portfolio of coins to be traded, currently over 320 options.
Does Swyftx have a mobile app?
Yes, they launched a new and improved app in 2021 that is available on iOS and on Android.
What fees does Swyftx charge?
Swyftx currently has a 0.6% trading fee, and they don’t charge any deposit or withdrawal fees on AUD. There are standard blockchain fees on crypto deposits and withdrawals though.
Are there any deposit and withdrawal limits on Swyftx?
Yes, a maximum of $100,000 a day in withdrawals depending on your account level. The minimum deposit depends on the crypto or method of payment for fiat currency.
Does Swyftx have KYC?
Yes, Swyftx is AUSTRAC registered and requires a photo ID and a selfie to verify new accounts. AUSTRAC is a government agency that helps to protect Australia’s financial services.
CoinJar
Is CoinJar available in Australia? Yes, they are! They launched in 2013 which makes them one of the longest-running crypto exchanges Australia has to offer. They currently have more than 600,000 users and offer more than 60 different cryptocurrencies to be traded. They focus on the Australian and UK markets and are FCA registered. They also have a platform, CoinJar Exchange, for high-volume advanced traders that offers a little more control over their trades.
CoinJar FAQs
Is CoinJar safe to use?
Yes. As one of the best Australian crypto exchange platforms, CoinJar’s security protocols include multi-level data encryption and multi-sig for hot wallets. CoinJar also uses BitGo as its custodian for cold storage. In addition to those measures, they also have full currency reserves at all times and are AUSTRAC-registered.
How many cryptocurrencies are on CoinJar?
Does CoinJar have a mobile app?
Yes, the CoinJar app is available for both iOS and Android
What fees will I pay on CoinJar?
They have a 0% - 1% fee for conversions on CoinJar, and no taker fee on AUD pairs for CoinJar Exchange. They will also charge up to 0.1% for maker fees. So are CoinJar fees high? Compared to other exchanges in the market, CoinJar fees are relatively low.
Are there any deposit and withdrawal limits on CoinJar?
CoinJar has a minimum deposit of $10, while the maximum withdrawal is capped monthly, but varies depending on your account level.
Does CoinJar have KYC?
Yes, CoinJar is AUSTRAC registered and so requires a photo ID and some personal information in order to verify your account.
Independent Reserve
Independent Reserve Australia was founded in 2013, which makes them one of the most established crypto exchanges in Australia. They have a global footprint, but primarily serve the AUS and NZ markets, and have more than 250,000 customers. Their crypto superannuation offering is another reason why Independent Reserve is on the best Australian crypto exchange list. They offer investments for Self-Managed Super Funds and boast advanced features including API, automated trading strategies and an OTC trading desk (a platform that deals with buyers and sellers directly).
Independent Reserve FAQs
Is Independent Reserve safe?
Yes, Independent Reserve runs core servers that are located at two tier 3 data centres in Sydney. This helps to ensure zero data loss if one site has an outage. All data is signed and encrypted multiple times using geographically dispersed keys at 4 data centres. They also operate cold storage for most digital assets with multi-layer encryption. When it comes to account security, they have 2FA, email notifications on each login, instant account suspension from email link if an account has an unauthorised login, duress password to suspend an account, withdrawals blocked for 72 hours after changes to account security, address whitelisting, browser whitelisting, bot shield, and even an option for PGP signed emails to avoid scams. Quite the list! So, if you have been wondering “Is Independent Reserve legit?”, the answer has to be yes!
How many cryptocurrencies are on Independent Reserve?
Independent Reserve currently offers 30 different tokens to be traded on their platform.
Does Independent Reserve have a mobile app?
Yes, the Independent Reserve app is available for both iOS and Android
What fees will I pay on Independent Reserve?
Independent Reserve has trading fees that are based on your 30-day trading volume. These are usually between 0.5% to 0.02%
Are there any deposit and withdrawal limits on Independent Reserve?
Deposits are often free on Independent Reserve, though there are exceptions depending on the amount, the currency, and the method of payment, while crypto deposits are generally free (excluding network fees). Withdrawal fees will vary based on the crypto or fiat currency being withdrawn as well as the method being used. Minimum withdrawal amounts would also depend on the crypto that is being withdrawn and would need to cover network fees.
Does Independent Reserve have KYC?
Yes, Independent Reserve is AUSTRAC registered and so requires ID and some personal information in order to verify your account.
CoinSpot
CoinSpot was established in 2013 which makes them a well-established exchange in the market. They offer investors more than 360 coins to buy, sell and swap and currently have 2 million customers. Are CoinSpot fees high? No, they offer a simple fee structure that makes them one of the best Australian crypto exchanges.
CoinSpot FAQs
Is CoinSpot safe?
Yes, CoinSpot is ISO 27001 Certified, which is a specification for an information security management system. They also store assets offline in cold storage and offer customisable account security including 2FA, custom withdrawal restrictions, and session timeout limits.
How many cryptocurrencies are on CoinSpot?
CoinSpot currently offers more than 360 cryptocurrencies to trade on their exchange.
Does CoinSpot have a mobile app?
Yes, the CoinSpot app is available for both iOS and Android
What fees will I pay on CoinSpot?
CoinSpot offers a simple fee structure, 0.1% on market orders and OTC, and 1% on instant buy, sell, and swaps. This has helped make them one of the top crypto exchanges Australia has to offer.
Are there any deposit and withdrawal limits on CoinSpot?
CoinSpot offers free AUD deposits and withdrawals with POLi, PayID, and direct deposits, but you'll pay a fee of 0.9% with BPAY and 2.5% with cash. There is a standard mining fee for crypto transfers to other wallets.
Does CoinSpot have KYC?
Yes, CoinSpot is AUSTRAC registered and requires ID and some personal information in order to verify your account.
Easy Crypto
Easy Crypto is one of the more popular crypto exchanges that markets in Australia and New Zealand can access. They offer outstanding customer service and a 100% safety guarantee on deposits. With more than 150 cryptocurrencies supported, alongside transparent and clear operations, they’ve managed to grow to over 100,000 users to date.
Easy Crypto FAQs
Is Easy Crypto safe?
Yes. Easy Crypto offer 2FA for accounts, address book whitelisting, and they are the only Australian crypto exchange that offers a 100% guarantee on all transactions in the event of losses.
How many cryptocurrencies are on Easy Crypto?
Easy Crypto currently offers 158 different cryptocurrencies to trade on their platform.
Does Easy Crypto have a mobile app?
Yes, the Easy Crypto app is available for both iOS and Android
What fees will I pay on Easy Crypto?
0.7% to 0.9% per transaction
Are there any deposit and withdrawal limits on Easy Crypto?
Easy Crypto has simple limits in place. Currently, the platform has a minimum purchase amount of $100 and a maximum withdrawal of $100,000.
Does Easy Crypto have KYC?
Yes. Because Easy Crypto is AUSTRAC registered they require a photo ID and some personal information in order to verify your account.
BTC Markets
BTC Markets was founded in 2013 and has since grown to be one of the top crypto exchanges Australia has to offer. They boast more than 325,000 active users in Australia trading upwards of $21 billion since their launch. They're a partner for the Ripple On-Demand liquidity program, offer free AUD deposits and withdrawals, and industry-leading security protection.
BTC Markets FAQs
Is BTC Markets safe?
Yes. For personal accounts, BTC Markets has 2FA, rate limits, SSL encryption, and all personal data is encrypted. Better still, 98% of all assets are encrypted in cold storage. Is BTC Markets AUSTRAC registered? Yes, they are also ISO 270001 security certified and ADCA certified.
How many cryptocurrencies are on BTC Markets?
BTC markets have 23 coins to be traded, a relatively small portfolio of currencies compared to some exchanges, but they offer all the market leaders.
Does BTC Markets have a mobile app?
Yes, BTC Markets has a mobile app that is available for both iOS and Android.
What are BTC Markets fees?
AUD market pairs trading fees are between 0.85% and 0.10%, based on 30-day trading volume.
Are there any deposit and withdrawal limits on BTC Markets?
AUD deposits and withdrawals are generally free with BTC Markets, although there may be charges that are linked to your payment method. Crypto withdrawals may also incur a network fee.
Does BTC Markets have KYC?
Yes, BTC Markets are AUSTRAC registered and so they require a photo ID and some personal information in order to verify your account.
Kraken
Kraken was founded in 2011 and is one of the largest global exchanges - which happens to be popular with Australian investors too. Kraken is one of the top crypto exchanges, with more than 6 million active users, trading nearly 200 cryptocurrencies. Much of Kraken's popularity comes down to the transparent nature of the team running things behind the scenes - the CEO himself is a firm believer in the not your keys, not your crypto mantra and encourages self-custody when you're not actively trading.
Kraken FAQs
Is Kraken secure?
Yes. Kraken has Kraken Security Labs - a team dedicated to protecting user assets, testing third-party products and services, and working with them to fix security flaws. Kraken also has an extensive bug bounty program for white-hat hackers. As for your assets - 95% of crypto is kept offline in air-gapped, cold storage. Meanwhile, account security features include 2FA and a global settings lock.
How many cryptocurrencies are on Kraken?
There are 195 cryptocurrencies available on Kraken exchange at the time of writing.
Does Kraken have a mobile app?
Yes, Kraken has a mobile app. There was also a Kraken Futures app - but this was discontinued in January 2022.
What fees will I pay on Kraken?
Kraken has a simple tier fee structure - between 0% and 0.16% for makers and 0.10% to 0.26% for takers, based on your monthly trading volume. There is also a 0.9% fee for purchasing any stablecoins, a 1.5% fee for any other crypto purchase plus a transaction fee of up to 3.75% depending on the payment method.
Are there any deposit and withdrawal limits on Kraken?
Depending on your payment method, the deposit minimum on Kraken is as low as $1. Deposit and withdrawal limits on Kraken are based on your account level - for example, there's a $9,000 deposit and withdrawal daily for Kraken express accounts.
Does Kraken have KYC?
Yes, Kraken is AUSTRAC registered and has KYC. Like many other exchanges, there are different levels of KYC - starter, express, intermediate, and pro. Only the latter two require supporting documents.
Cointree
Cointree was founded in 2013 in Melbourne and currently has more than 80,000 registered users. They have become one of, if not the, top crypto exchanges Australia has for beginners thanks to their user-friendly interface and relatively low fees.
Cointree FAQs
Is Cointree safe?
Yes. Cointree uses a hot/cold wallet system for all user assets. Security protocols for user accounts include 2FA and all passwords are hashed and salted. In addition to that, all employees are required to have criminal background checks.
How many cryptocurrencies are on Cointree?
Cointree has a strong portfolio of coins on offer, currently, there are more than 280 different cryptocurrencies available to trade.
Does Cointree have a mobile app?
Yes! Cointree launched a mobile app recently that's available on iOS and Android.
What fees will I pay on Cointree?
Cointree fees depend on the account tier of each user. They usually charge from 0.9% for buying or selling, and from 0.25% for coin-to-coin trades. There are also no AUD deposit or withdrawal fees.
Are there any deposit and withdrawal limits on Cointree?
Cointree has a minimum deposit of $20, as well as tiered withdrawal and trading limits depending on your account level.
Does Cointree have KYC?
Yes. Cointree is AUSTRAC registered and requires a photo ID and some personal information in order to verify your account.
Coinstash
Coinstash is an Australian exchange that allows investors to buy, sell, and trade crypto. As well as this, Coinstash offers some unique products for Australian investors including crypto bundles to diversify your portfolio and an earn program that lets you earn up to 24.48% PA in returns.
Coinstash FAQs
Is Coinstash safe?
Yes. Coinstash offers SSO encryption, multi-layered security, and 2FA on all user accounts.
How many cryptocurrencies are on Coinstash?
Coinstash boasts a large portfolio of tokens to be traded, currently they offer 436 different cryptocurrencies on their exchange.
Does Coinstash have a mobile app?
Yes. Coinstash has an app, available for both iOS and Android.
What fees will I pay on Coinstash?
Coinstash has a trading fee of 0.85%.
Are there any deposit and withdrawal limits on Coinstash?
Coinstash has no deposit fees or limits, while withdrawal limits and fees depend on the crypto that is being withdrawn or the payment method used for fiat.
Does Coinstash have KYC?
Yes. Coinstash is AUSTRAC registered and requires a photo ID and some personal information in order to verify your account.
How we picked the best Australian crypto exchanges
When picking a cryptocurrency exchange, several criteria are important to consider. Here are some key factors to evaluate:
Security: The security of your crypto should be your top priority, so we've picked only the best crypto exchanges in Australia that utilise robust security protocols like 2FA, encryption, cold storage for funds, and regular security audits.
Reputation: Sadly, there are still many dodgy projects and platforms in the crypto industry - so we've carefully checked each exchange's reputation and track record in the crypto community to help us pick the best crypto trading platforms in Australia.
Available cryptocurrencies: It should go without saying you need a crypto exchange that actually sells the crypto you want to invest in. Fortunately, all our picks for the best crypto exchanges in Australia offer a wide variety of cryptocurrencies, from popular market leaders like BTC and ETH to lesser-known tokens.
Liquidity: We all know too well what happens when a crypto exchange faces a liquidity crisis after the FTX collapse. Crypto exchanges with higher liquidity not only protect you from potential bank runs but also help you execute trades faster and at more competitive prices.
User Interface: From novice to pro, there's a crypto exchange to suit every experience level - and a beautiful interface to help you navigate through new transactions or investments. As well as this, we've also checked which crypto exchanges have mobile app options for Android and iOS, so you can trade on the go.
Fees: All crypto exchanges charge fees, but those fees can vary substantially. We've compared fee structures between the best crypto exchanges in Australia to help you find the perfect balance between affordability and the services provided.
FAQs
More questions? We got you.
What's the best crypto trading app in Australia?
Most Australian crypto exchanges offer a mobile app for both Android and Apple users, including CoinSpot, Swyftx, CoinJar, and Independent Reserve. All these apps are free to download and try, so the best crypto trading app will depend on the app you prefer!
What's the best crypto to consider?
Some of the top-performing cryptocurrencies in Australia currently include:
As always, past performance is not indicative of future results and you should always DYOR before investing in any cryptocurrency to understand the risks involved.
