Best Crypto Exchange Australia For 2022 Revealed

Last Updated April 26th 2022
6 Min Read

Did you know that Australia is one of the most crypto-friendly nations? You, too, can leverage this crypto-friendliness and join the millions of Australians who are creating additional income streams by trading cryptos or future-proofing their finances through crypto investing.

To get started, you only need to identify the best crypto exchange in Australia and register a crypto trader account with them.

But there already are hundreds of exchanges that claim to be the best. How then do you go about vetting each one of these to find the one whose product offering and services align with your crypto trading or investing needs?

We address this challenge in this post and help you get started with crypto investing by introducing you to the 3 best bitcoin exchanges Australia. We will tell you what makes them the best cryptocurrency exchanges and what to look for in a good crypto trading platform.

Read on.

List of Australian Based Crypto Exchanges - Quick Review

Pressed for time but still want to know the top cryptocurrency exchanges Australia and why they stand out from the rest? Here is the shorthand version of this guide.  

  • eToro - Overall Best Crypto Exchange Australia (best for user-friendliness)
  • Coinbase - Safest Crypto Exchange Australia With High Fees
  • Binance - Cheapest Crypto Exchange Australia
 

Get Started With The Best Crypto Trading Platform In Australia Today

If you want to get started with crypto trading exchange in Australia right away, here is a quick-start guide that explains how you can start investing in digital currencies through eToro exchange Australia - in 5 simple steps: 

  • Step 1: Open a crypto trader account - Open the official eToro Australia website, hit the “Join Now” icon, and complete the user registration form in the pop-up window.
  • Step 2: Verify identity - In line with international KYC/AML regulations, eToro is required by law to verify your identity. Do this by providing the exchange with your government-issued identity document, e.g. passport or driver’s license. 
  • Step 3: Deposit funds - Once the account is approved, deposit some funds therein. Supported deposit methods include the rather slow bank transfers and instantaneous credit/debit cards or eWallets like PayPal. 
  • Step 4: Decide on a crypto coin - Decide on the coin you want to trade or invest in and confirm that it is supported on the platform. 
  • Step 5: Buy crypto - Click on the Trade button against the preferred coin, specify how much of the coin you wish to buy, and click “Open Trade” to complete the purchase.

That’s all. That’s how you begin your crypto trading andinvesting journey through Australia’s top crypto exchange - eToro. 

 

buy cryptos now

Best Crypto Exchange Australia - Full Reviews

Choose an exchange whose key features align with your crypto investing needs.

There are a host of factors that help these top crypto exchanges stand out and tower above the rest. They include navigable user interfaces, competitive trading fees, support for diverse payment options, the safety of user funds, and the number of supported coins.

1. eToro

eToro is one of the most beginners- and user-friendly crypto exchanges in Australia.

eToro has positioned itself as one of the most beginner-friendly crypto exchanges in Australia. It has a decongested and easily navigable user interface and maintains a straightforward onboarding process. Plus, it supports a wide range of deposit and withdrawal methods, especially cards and eWallets like PayPal, in addition to maintaining affordable deposit and trade minimums.

Traders and investors - both beginner and experienced - are also drawn to its industry-leading social and copy-trading platform. Here, beginner traders earn when they copy winning trade strategies from expert traders. Experts, on the other hand, get to share in the profits made from their copied trades.  

2. Coinbase

Coinbase is one of the most trusted crypto exchanges in Australia, preferred for its commitment to the security of user funds.

Coinbase is one of the oldest crypto exchanges in the world - having been around for over a decade. Over the years, it has natured a reputation of commitment to the safety of client funds and reliability. It, for instance, stores 98% of its client’s virtual assets in ultra-secure offline vaults and insures the remaining 2%.

But this isn’t the only reason it has found favour with Australians. It also ranks highly among the best bitcoin exchanges Australia because of its support for a wide range of coins, deep liquidity, and fast order-execution speeds.

Coinbase is also popular here because it appeals to beginners with its instant-buy feature and draws in experts to its Coinbase Pro platform. It too has a smooth onboarding process and supports a wide range of deposit and withdrawal methods.

3. Binance

Binance does not just feature the widest range of crypto coins, it also tops the list of low cost crypto exchanges in Australia with its competitive trading fees.

Binance is a favourite among retail crypto traders and institutional investors in Australia, who have primarily been drawn in by its incredibly low transaction fees. But they also appreciate its wide range of tradable crypto assets, the fact that it is the most liquid crypto exchange in the world, and that it maintains some of the fastest order-execution speeds.

Short to long-term investors also appreciate the integrated crypto investing programs on the exchange, especially the crypto saving and staking schemes. They also like the fact that Binance is available on the go via the Binance mobile app and that, like eToro and Coinbase, the exchange maintains a straightforward onboarding process.

buy cryptos now

Check Out: What Are The Most Popular Cryptocurrencies In Australia?

How To Find The Best Crypto Exchanges In Australia

Here are a few crucial factors that you ought to consider when looking for the best crypto exchange in Australia.

Regulation and Reputation

Confirm that your preferred crypto exchange is registered and regulated in Australia. It should also have a solid reputation for reliability and excellent client support.

An exchange like eToro ticks all the right boxes because it is registered in Australia and regulated by the ASIC - making it the safer option for investors and traders.

Safety and Security

Check the security measures an exchange has placed around its infrastructure, like two-factor verification, multisig functionality, if code is open-sourced, and if it has conducted security audits. Check, also, the safeguards it has placed around keeping client data and digital assets safe, like keeping funds in offline vaults, insuring user deposits, and if it shares client data with third parties.

Payment Methods

A good crypto exchange should support a wide range of payment options and maintain low to no deposit and withdrawal processing fees. A quick analysis of the top Australian crypto exchanges we have discussed above reveals that both eToro and Coinbase support a healthy number of payment options - but Coinbase maintains high transaction fees. Binance, on the other hand, only supports bank and card deposits.  

Trading Fees and Commissions

Your preferred crypto trading platform in Australia should also maintain competitive transaction fees or commissions. From this list, Binance clearly outcompetes the rest with its heavily discounted crypto trading fees of between 0.01% and 0.035%.

buy cryptos now

In Summary

You now know how to start trading and investing in cryptocurrencies on such popular exchanges as eToro. You also know what to look for the next time you go fishing for a top cryptocurrency exchange Australia. We have even helped narrow your search and introduced you to the three safest, most beginner-friendly, reputable, and low-cost crypto exchanges in Australia.

Overall, we believe eToro is the best crypto exchange in Australia, not just because it is registered and regulated by the Australian authorities but also because of its user-friendliness and support for social and copy-trading. We also appreciate its transparent fee structure, low transaction fees, and support for a wide range of payment methods.

eToro - The Best Platform To Buy Cryptocurrencies In Australia

Open an account with eToro, deposit some funds with USD, and finally – buy cryptocurrencies for just $10.

eToro cryptocurrency trading

Virtual currencies are highly volatile. Your capital is at risk.

Read More:

3 Crypto Coins For Heavy Returns

7 Most Popular Cryptocurrencies For 2022 Revealed

Top 10 Cryptocurrencies To Turn $1000 To $10000 Long-Term

5 Cryptocurrencies That Can Soar 300% (Or More) By 2025

Top 10 DeFi Cryptocurrencies That Are Set To Explode

Best Crypto Investment According To Reddit