There are many cryptocurrency exchanges available in Australia. Cryptocurrency is becoming more popular in Australia. How do you know which crypto exchanges are legit and which ones are scams? Which one is right for you?
In this article, we will give you information about some of the best cryptocurrency exchanges in Australia to help you find the right one for your needs.
Digital Surge is the top choice for Australians looking to trade cryptocurrency. This is the best choice for Australians looking to start with crypto. It has two main advantages: 1) The spreads and fees in Marketplace Fairness’s test are the lowest (spreads of just 0.21%), and 2) The exchange is legitimate and safe as it has been registered with ASIC/AUSTRAC.
Digital Surge is a platform that has been in existence since 2017. It offers over 300 cryptocurrencies that users can buy directly with AUD.
Digital Surge also offers the lowest fees in the Australian market. It start at 0.5 percent and, depending on trading volume, can drop to 0.1 percent.
Digital Surge worked hard to create an easy-to-use interface for both selling and buying.
You just need to click on “Buy or Sell” and you won’t have to worry about complicated charts or graphs. This is also great for experienced traders who want to place limit orders. There is option to do so.
You can also use Bitcoin to pay your bills.
You can Pay with Bitcoin directly from your Digital Surge account if you have an Australian bill or credit card that accepts BPAY. This is very convenient and easy as you don’t have to sell your Bitcoin and withdraw it in AUD to make the payment.
Contacting customer support via email or live chat 24/7 is easy and friendly. To make trading easy, you can either use the Digital Surge desktop website or the mobile app.
Swyftx, a local exchange that is registered with ASIC, offers over 200 crypto assets and altcoins that you can trade against your own AUD or USD.
If you are a beginner, you don’t have to worry about the difficulty of exchanging fiat money into crypto when using Swyftx. It’s simple to trade with other cryptocurrencies for more experienced traders who already have Bitcoin.
Swyftx is known for its transparent pricing and user-friendly system, which benefits both novice traders as well as experienced traders.
There is a 0.6% transaction fee and no fees for cash withdrawals or cash deposits. Swyftx charges a fraction of industry average fees, which is why it has one of the lowest fees.
The company is fully compliant with AML and KYC policies. Swyftx registers all its users with a government ID. It also keeps track of all transactions within its network. This allows them to avoid money laundering and fraud.
Security tests, Two-Factor authentication (2FA) and breached password detection are some of the measures taken by the platform to protect your account. 2FA makes your OTC trading account more secure. This additional security layer will make it more difficult for anyone to gain access to your account without your permission. An app such as Google Authenticator is all you need.
Binance is a very well-known platform in the crypto world. It has created an excellent trading platform, However it may not be the ideal choice for beginners. There are many additional features like margin trading, P2P marketplace, NFT marketplace, and staking that will suit even the most experienced crypto investors.
Binance gives you access to more than 600 cryptocurrencies. It also allows you to deposit AUD without fees easily using bank transfer or PayID. Binance is the right platform for you if you want to trade crypto. The platform is very affordable at just 0.1% fees and integrates well with third-party trading robots that allow you to automate your strategy.
Binance isn’t an Australian company. Therefore, you may have issues verifying your Australian ID. Binance lacks customer service, making it difficult to resolve these issues.
Kraken is similar to Binance because it offers many different services as well as a wide variety of coins at very low fees. There are a few areas that Kraken is different from Binance. For example Kraken places more emphasis on security. Also, this exchange offers fewer coins that Binance.
Kraken is US-based so it must adhere to strict regulations. This is great for people who are looking for an extremely secure exchange. It is considered one of the safest exchanges in the world and provides a simple interface for advanced trading at very affordable fees. You can also buy and sell cryptocurrency immediately for a 1.5% fee. There are many useful features on this platform, including margin trading, crypto staking and futures.
Kraken has a limitation that you can only trade 19 cryptocurrencies against the AUD. This is a downside for Australian traders. If you plan to only trade the most well-known coins, this won’t be an issue.
Capital is more than just a crypto exchange. That’s what makes it so amazing. Capital allows you to trade crypto alongside stocks, commodities, forex, market indexes, ETFs, and other stocks. There is no trading fees.
Capital charges a tight spread, which can vary from 0.1% to 0.3% depending on the asset. It is very small. It offers a fully-functional desktop platform, a highly-rated mobile application, and a demo account which allows you to make trades with fake (paper) money in real time.
The Australian Securities and Investments Commission (ASIC) has licensed Capital. This means that it is a secure and reliable exchange that is regulated by trusted Australian authorities. Capital’s customer service experience is unmatched. Every user has a dedicated account manager they can reach at any time by phone or email.
CoinJar was launched as Australia’s first and most trusted crypto exchange in 2013. It offers personal finance trading tools like CFDs, which allow you to buy, sell, and spend digital assets such bitcoin and Ethereum. CoinJar is a digital platform that focuses on helping you manage your blockchain assets and other altcoins.
CoinJar’s easy-to-use platform is accessible from anywhere, via either the web or Android and iOS mobile apps. The app allows you to instantly convert between all currencies and gives you total control of your money.
CoinJar provides fast transfers and instant AUD deposits and withdrawals through the CoinJar Card. CoinJar Exchange allows you to use GBP or AUD to purchase and sell with no trading fees on taker trades and a flat fee of 1% on orders. The layout can be customized with grouped tabs or column orders that include more than 50 digital currencies.
CoinJar’s multi-sig technology helps protect your account information. All communication between your computer and the servers is encrypted. The majority of digital currency storage for clients takes place offline in geographically redundant secure locations.
The company uses extensive digital security checks at the time of registration registration. After that, you can access two factor authentication for your added peace of mind while transacting. These security measures protect your information from hackers.
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CoinSpot entered the Australian crypto market in 2013. They haven’t slowed down since. CoinSpot is now the largest Australian cryptocurrency exchange, with more than 2.5 million users as of 2022. This has been almost a decade in operation.
It is the most externally audited cryptocurrency exchange in Australia. It claims of being the most secure and trusted exchange and It is the only exchange to have received the ISO 27001 certification.
CoinSpot is great for beginners to crypto because it’s very simple to use. Over 330 cryptocurrencies are available for instant buy/sell, making it one of the most extensive Australian exchanges. Although some of its coins aren’t listed elsewhere, there is a transaction charge of 1% for instant buys or sells.
You can access CoinSpot at lower fees by trading crypto on the market. The fees are just 0.1 percent. Market trades offer a limited range of coins, which is not there in the instant buy-and-sell option.
This is not a problem if your goal is to trade major coins such as BTC, ADA and ETH. However, if the goal is to trade smaller altcoins, you have to use the Instant Buy feature which costs a 1% fee.
CoinSpot is a great option for beginners because the dashboard is simple to use on mobile and desktop. This exchange has put a lot of efforts to ensure that users have a simple and clutter-free experience. If you have any problems, the customer support team can be reached via Live Chat.
In late 2021, the platform added stakes to allow you to earn additional crypto while you keep your coins over the long-term. CoinSpot allows you to stake on 17 coins at present, which is more than any other Australian crypto exchange.
Crypto.com is a major global player as far as exchanges go. It supports more than 100 cryptocurrencies making it a great choice for those looking to invest in unknown altcoins.
Crypto.com offers some unique features that only a few Australian cryptocurrency exchanges can match. When users feel confident about a coin, users can trade options or futures contracts, earn interest by staking coins and make trade with up to 10x leverage.
Crypto.com has made huge investments in its platform security. This makes trading with them very secure. Day traders have an advantage over the rest because the exchange updates prices dozens of times per second.