The 10 Best Crypto Exchanges in Australia (Expert Verified)

Looking for the best crypto exchanges in Australia? In this guide, we'll break down everything about the best exchanges for you based on factors like ease of use, fee structure, and customer support!

CoinSpot

Founded in 2013, CoinSpot is one of the oldest and most established exchanges based in Australia. Today, the platform supports more than 3 million users and more than 540 cryptocurrencies, making it a trusted choice for both beginners and experienced investors.

Fees: 0.1% on spot trading

Cryptocurrency selection: 540+

CoinLedger Rating: 9.6/10

Pros & Cons

• CoinSpot is user-friendly and a great choice for beginner investors with its intuitive interface
• CoinSpot offers 24/7 live chat support to assist users with any questions or issues
• CoinSpot is one of the best exchanges when it comes to regulatory compliance and security. It was the first exchange to receive the ISO 27001 certification, demonstrating its commitment to data protection standards
• CoinSpot offers low fees of just 0.1% on spot trading (Instant Buy/Sell comes with 1% fees)
• Advanced trading options for experienced traders are limited, with no margin and derivative trades available

Swyftx

Founded in 2018, Swyftx is another exchange focused on the Australian market. Today, the platform supports more than 440 cryptocurrencies and 1.1 million users, establishing itself as a significant player in the local crypto ecosystem.

Fees: 0.1% - 0.6% depending on trading volume

Cryptocurrency selection: 440+

CoinLedger Rating: 9.4/10

Pros & Cons

• Swyftx is an intuitive and user-friendly platform designed for beginner investors
• Swyftx offers 24/7 live support to address customer concerns and technical issues
• Swyftx is registered with AUSTRAC and complies with Know Your Customer regulations, ensuring a compliant trading environment
• Swyftx allows you to set up a crypto self-managed superfund (SMSF) in under 4 hours, providing tax-efficient investment options
• Swyftx offers staking rewards for dozens of cryptocurrencies, allowing users to earn passive income
• Relatively high fees compared to some competitors, with fees reaching as high as 0.6% for certain trading volumes
• Swyftx does not support advanced trades such as margin and derivative trades

Kraken

Kraken is an American-based exchange that serves investors all over the world. The exchange is known to be a fantastic option for experienced investors due to its low fees and its support for advanced transaction types, making it ideal for sophisticated trading strategies.

Fees: 0 - 0.40% fees on Kraken Pro

Cryptocurrency selection: 490+

CoinLedger Rating: 9.3/10

Pros & Cons

• Kraken offers 24/7 customer service, including phone support for urgent matters
• Kraken offers relatively low fees, with rates as low as 0% on Kraken Pro for certain trading activities
• Kraken offers support for advanced trades such as derivative and margin trades, catering to professional traders
• Because Kraken is a US-based exchange, most of the trading pairs offered are with USD. There are a limited number of cryptocurrencies you can trade against AUD, which may be inconvenient for Australian investors

Pionex

Pionex is a crypto exchange that also offers free crypto trading bots to automatically make transactions and help you maximize your returns. This unique feature sets it apart from traditional exchanges and appeals to traders seeking automated trading solutions.

Fees: 0.05% on spot trading

Cryptocurrencies supported: 120+

CoinLedger Rating: 9.1/10

Pros & Cons

• Pionex's trading bots can help you make profitable trades automatically, saving time and effort
• Pionex has been praised for its responsive customer service and user support
• Low fees at 0.05% on spot trading, among the lowest in the industry
• Some users have reported issues with withdrawing cryptocurrency from their account, which is a concern for liquidity

Coinbase Australia

Coinbase Australia is the Australian version of Coinbase, one of the world's biggest and most trusted exchanges. The platform offers more than 200 different cryptocurrencies and is designed with user education in mind.

Fees: Not publicly available

Cryptocurrencies supported: 200+

CoinLedger Rating: 9.6/10

Pros & Cons

• Coinbase is designed to be beginner-friendly with a simple and easy-to-understand interface
• Coinbase's Learn and Earn program allows you to earn cryptocurrency after watching short educational modules designed to help you better understand the crypto ecosystem
• Coinbase is one of the world's most trusted exchanges with a strong reputation for security
• Coinbase has faced security challenges in the past, with its customer support team experiencing breaches that led to customer assets being stolen. Coinbase has committed to reimbursing affected users
• Unlike other exchanges, Coinbase is not transparent about its fee structure. Coinbase has been criticized for having higher fees than other exchanges
• Coinbase does not offer support for advanced transaction types, such as margin and derivative trading

CoinJar

CoinJar is an Australian-based exchange originally founded in 2013. Today, CoinJar serves investors all around the world including Australia, the UK, and the USA, establishing itself as a global player with local expertise.

Fees: 0.02-0.1%

Cryptocurrency selection: 60+

CoinLedger Rating: 9.2/10

Pros & Cons

• CoinJar has a beginner-friendly interface that makes it a great choice for new investors entering the crypto space
• CoinJar's spot market offers some of the lowest fees on the market with fees ranging from 0.02-0.1%, providing excellent value
• CoinJar has industry-leading security using multi-level encryption to keep customer funds safe. In addition, the exchange has assets to cover 100% of customer balances
• CoinJar has higher fees on the standard version of its platform, ranging from 1-2%, which may deter some users
• CoinJar supports fewer cryptocurrencies than competitors, with just 60+ cryptocurrencies available, limiting portfolio diversification options

ByBit

ByBit was originally founded in 2018 — and now serves more than 2 million users worldwide. The platform is known for allowing users to trade with margin up to 100x leverage, making it popular among experienced traders seeking high-risk, high-reward opportunities.

Fees: 0.01% spot trading fees

Cryptocurrency selection: 330+

CoinLedger Rating: 8.9/10

Pros & Cons

• ByBit offers advanced trading features such as margin trades with 100x leverage for experienced traders
• ByBit supports more than 330 cryptocurrencies, providing extensive trading options
• ByBit offers competitive fees as low as 0.1% on spot trading
• ByBit offers a Mastercard prepaid card that allows you to spend cryptocurrency directly
• ByBit has been criticized for slow customer support response times
• ByBit may not be the best option if you are not confident with using advanced trade instruments. Remember, margin trades can be risky and lead to significant losses
• You cannot deposit or withdraw fiat currency from ByBit. Only cryptocurrency can be deposited and withdrawn

eToro Australia

Unlike the other exchanges on this list, eToro Australia offers access to stocks and cryptocurrencies. In addition, eToro Australia bills itself as a 'social trading platform' — giving you access to a community of successful stock and crypto investors.

Fees: 1% fees

Cryptocurrency selection: 100+ cryptocurrencies

CoinLedger Rating: 9.2/10

Pros & Cons

• eToro Australia offers access to both cryptocurrencies and stocks, providing a diversified investment platform
• eToro Australia includes social media features including the ability to see and copy the transactions from the platform's most successful traders
• eToro Australia charges $0 fees for Australian stocks, making it attractive for equity investors
• eToro Australia has been criticized for charging certain fees, such as currency conversion fees for buying U.S. stocks and a monthly inactivity fee if you've made no trades in the past 12 months
• eToro Australia has a limited cryptocurrency selection compared to other exchanges on this list

Crypto.com

Crypto.com is a Singapore-based exchange with more than 150 million users worldwide. The platform is famous for offering extremely generous rewards for debit card users with rewards up to 8%, making it an attractive option for those looking to earn while spending.

Fees: 0.08- 0.5%

Cryptocurrency selection: 400+

CoinLedger Rating: 9.0/10

Pros & Cons

• Crypto.com's mobile app features an easy-to-use interface designed for beginners
• Crypto.com offers access to more than 400 cryptocurrencies, providing substantial portfolio options
• Crypto.com allows you to earn interest on select cryptocurrencies within the platform, generating passive income
• Crypto.com's Visa card allows you to earn cashback rewards up to 8% (rewards vary depending on how much CRO you are staking on Crypto.com)
• Crypto.com has faced criticism for lacking responsive customer service
• While Crypto.com offers low fees, many customers have criticized Crypto.com for having large 'spreads' on trades, which can increase effective trading costs

Independent Reserve

Founded in 2013, Independent Reserve is one of the biggest cryptocurrency exchanges in Australia. Independent Reserve is designed for high-net worth investors, with features such as an OTC trading desk that allows for discounts on large-volume orders and a Tax Estimator to help you better understand the tax obligations of your transactions.

Fees: 0.02%-0.5%

Cryptocurrency selection: 20+

CoinLedger Rating: 8.8/10

Pros & Cons

• Independent Reserve offers low transaction fees that range between 0.02%-0.5%, providing competitive pricing
• Independent Reserve allows you to invest cryptocurrency through a self-managed superfund, offering tax-efficient investment strategies
• Independent Reserve puts its assets in cold storage to protect customer funds from online threats
• Compared to other exchanges, Independent Reserve offers a limited range of cryptocurrencies. The exchange currently offers access to 20+ cryptocurrencies, which may limit diversification
• Independent Reserve has a complex user interface that may be challenging for beginner investors

Regulatory Changes and Unavailable Exchanges

Over the past several years, the regulatory landscape for cryptocurrency exchanges in Australia has evolved significantly. Some exchanges that were previously popular have made changes to their Australian operations due to regulatory pressures. Certain major exchanges halted AUD transfers via bank and stopped offering support for many AUD trading pairs after their banking partners decided to cut off support. These regulatory developments highlight the importance of choosing exchanges that maintain strong compliance with Australian financial authorities.

How to Choose an Exchange

Here are a few factors that you should consider when choosing an exchange.

Ease of Use

If you're a beginning investor, getting started with cryptocurrency trading can feel overwhelming. That's why it's important to choose an exchange with an easy-to-use interface that simplifies the trading process. A well-designed platform can significantly reduce the learning curve and help you start trading with confidence.

Cryptocurrencies Supported

If you wish to build a diverse cryptocurrency portfolio, you'll likely want to choose an exchange that offers hundreds of different coins. However, if you're only planning to invest in a handful of cryptocurrencies, you can choose an exchange that supports a limited number of coins. Consider your long-term investment strategy when evaluating the breadth of cryptocurrency offerings.

Fees

Be sure to understand your exchange's fee structure before you get started. Depending on your activity, exchange fees can become very expensive! In addition to trading fees, many exchanges charge deposit, withdrawal, and credit/debit card fees. Comparing fee structures across different exchanges can help you minimize trading costs over time.

Customer Support

Often, investors will run into issues with their cryptocurrency exchanges, such as difficulties withdrawing or depositing cryptocurrency. Exchanges with robust customer support can provide quick help in situations like these. Consider whether the exchange offers 24/7 support through multiple channels such as live chat, email, or phone.

Security

In recent years, cryptocurrency investors have lost millions due to hacks and exchange bankruptcies. Before you choose an exchange, take a look to see if the platform takes measures to keep your assets safe such as two-factor authentication, cold storage, and third-party security audits. A strong security posture is essential for protecting your investment.

How to Sign Up for an Exchange Account in Australia

Opening a cryptocurrency exchange account in Australia is similar to opening an account with a stock brokerage. Usually, the process can be completed in a few minutes (though it may take a few days to verify your identity!)

• Create Your Account: To get started with an exchange account, you'll need to provide an email address and set a password for your new account. Choose a strong password that combines letters, numbers, and special characters.

• Provide Personal Information: Before you start trading cryptocurrencies, you'll need to provide Know Your Customer information. This typically means providing information like your full name, date of birth, and a government-issued photo ID such as a driver's license or passport.

• Fund Your Account: Once your identity is verified, you can fund your account to start making purchases. Most exchanges allow users to fund your account through bank transfer, wire transfer, or transferring in cryptocurrencies from other platforms.

Do Australian Exchanges Report to the ATO?

Exchanges operating in Australia are required to register with AUSTRAC (Australian Transaction Reports and Analysis Centre) and share data with the Australian Taxation Office upon request. This regulatory requirement ensures that cryptocurrency transactions are properly tracked and reported.

The ATO has a data-matching program with cryptocurrency exchanges, which it uses to identify potential tax compliance issues. The ATO has used this information to send warning letters to Australian crypto investors who may have underreported their cryptocurrency income or capital gains.

How Do I Report Taxes on My Australian Crypto Transactions?

Because of cryptocurrency's unique properties, many exchanges have trouble providing accurate tax forms — especially if you've transferred crypto into or out of your exchange. In this case, the exchange may have trouble reporting your capital gains and losses accurately.

Luckily, there's an easier way to report your crypto taxes in Australia. Crypto tax software solutions can connect to your wallets and exchanges and generate a comprehensive tax report in minutes. These tools automatically calculate your capital gains and losses, track your cost basis, and organize your transactions in a format that's easy to report to the ATO. Using specialized tax software can save you significant time and help ensure compliance with Australian tax regulations.

FAQ

What is the most trusted crypto exchange in Australia?

The most trusted crypto exchange in Australia is determined by regulatory compliance, security measures, trading volume, user reviews, and customer support quality. Leading platforms typically hold Australian financial licenses, implement advanced security protocols, and maintain transparent operations to build user confidence and trust.

Is Coinbase or CoinSpot better in Australia?

Both serve Australian users well. Choose based on your needs: one offers global reach with extensive assets, while the other provides local payment methods and support. Compare fees, features, and available cryptocurrencies to determine which better suits your trading preferences.

Which is the most trusted crypto exchange?

The most trusted crypto exchange typically demonstrates high security standards, regulatory compliance, transparent operations, substantial trading volume, and positive user reviews. Leading platforms prioritize custody solutions, insurance protection, and institutional-grade security measures to build long-term user confidence and market trust.

What are the fees and features of the top crypto exchanges in Australia?

Top Australian crypto exchanges typically charge trading fees ranging from 0.1% to 0.5%, with lower rates for higher trading volumes. Key features include advanced security, diverse coin selection, fiat deposit options, mobile apps, and competitive spreads. Premium tiers offer reduced fees and enhanced trading tools.