Best Crypto Exchange Australia 2022

If you’re on the hunt for the best crypto exchange in Australia – this guide compares the top five providers to consider in 2022.

We examine core metrics of each crypto exchange – such as regulation, supported coins, fees and commissions, customer service, trading tools, and more.

Read on to get started with the best Australian crypto exchange in under five minutes.

The Best Australian Crypto Exchanges for 2022

The five best crypto exchanges in the Australian market right now are those listed below.

1. eToro – Overall Best Crypto Exchange Australia for 2022
2. Capital.com – Best Bitcoin Trading Platform for Leveraged Crypto Products
3. Coinbase – Top Australian Bitcoin Exchange for Beginners
4. Binance – Cheapest Crypto Exchange for Spot Trading
5. AvaTrade – Regulated Crypto CFD Trading Platform

Cryptoassets are a highly volatile unregulated investment product.

To select the best crypto exchange in Australia for you – read our in-depth reviews in the following sections.

The Top 5 Bitcoin Exchanges Australia Reviewed

The only way to choose the best Bitcoin exchange in Australia for you is to consider your main priorities.

For example, in addition to selecting a regulated exchange that offers a safe investment environment – is your main focus obtaining the lowest fees possible, or accessing highly advanced trading tools?

Similarly, consider if you want to trade crypto with leverage, and which markets the respective exchange supports.

To help you with your decision-making process, reviews of the five best crypto exchanges in Australia can be found below.

1. eToro – Overall Best Crypto Exchange Australia for 2022 

eToro is undoubtedly the best crypto exchange in Australia for a wide variety of core reasons. When it comes to security and trust, eToro is authorized and regulated by several tier-one bodies – including the Australian Securities and Investments Commission (ASIC). Additional licensing comes from the FCA (UK) and the SEC (US).

This means that you can buy, sell, and trade crypto assets without needing to worry about the legitimacy of the platform. To get started with an eToro crypto account, you simply need to register some personal details and upload some ID. After that, you can instantly deposit funds with an Australian debit/credit card, or an e-wallet like Paypal.

You can also deposit funds via a bank transfer. All supported deposit methods attract a small fee of just 0.5% and the minimum funding requirement stands at $50. In terms of supported markets, eToro is home to dozens of crypto assets – which covers everything from Bitcoin, AAVE, Decentraland, and Ethereum to XRP, Litecoin, Cardano, and EOS.

Moreover, you can also access leveraged CFDs, which are inclusive of crypto-cross pairs like BTC/ETH. To diversify even further, you might even consider the 3,000+ commission-free stocks and ETFs hosted by eToro. When it comes to crypto trading fees, this stands at just 1% per slide, plus the market spread.

We also like the eToro copy trading feature. This enables you to choose from thousands of experienced crypto investors that use the eToro platform, and then elect to copy their trades like-for-like. The minimum investment requirement when engaging with the copy trading tool is just $200. You can also invest in smart portfolios, which are professionally managed by the eToro team.

This includes a number of crypto-centric portfolios, which promotes a passive way of gaining exposure to the digital asset industry. We also like the free virtual portfolio offered by eToro, which allows you to trade in live market conditions but in a risk-free manner. The eToro app is also worth downloading, as this connects to your main brokerage account.

Pros

• Regulated by ASIC
• Super low trading fees
• Web and mobile app platform
• Supports dozens of coins
• Deposit funds with a debit/credit card, e-wallet, or bank transfer
• Copy Trading tools

Cons

• Advanced traders might find the platform a bit basic

Cryptoassets are a highly volatile unregulated investment product. 68% of retail investor accounts lose money when trading CFDs with this provider

2. Capital.com – Best Bitcoin Trading Platform for Leveraged Crypto Products    

Capital.com is a regulated CFD broker that allows you to trade leveraged crypto derivatives. This means that you can place buy and sell orders with leverage of up to 1:2 – as per ASIC regulations. For instance, if you were to open a position worth $2,000 – leverage enables you to double this stake to $4,000.

Another benefit of trading crypto CFDs at Capital.com is that you will not be charged a single cent in commission. Instead, it’s only the market spread that you need to pay. Moreover, Capital.com supports both long and short positions, so you can try to profit from rising and falling crypto prices.

Capital.com is also a top option for those seeking access to a large number of supported markets. At this platform, you can trade crypto-fiat and crypto-cross markets over more than 470 pairs. This means that if you have your eye on a specific token, there is every chance that Capital.com offers a suitable market.

We also like Capital.com for its low minimum deposit requirement – which stands at just $20 when you fund your account with a debit/credit card or e-wallet. On the other hand, should you wish to transfer funds from a bank account, this requires a much higher minimum of $250. Either way, no deposit or withdrawal fees are charged by this platform.

in addition to over 470+ crypto markets, Capital.com also offers CFD stocks, indices, energies, metals, ETFs, and more. Once again, all supported CFD instruments can be traded commission-free alongside tight spreads. When it comes to the trading platform itself, Capital.com can be accessed via your standard web browser.

Alternatively, you can download the Capital.com app via the App Store or Google Play. This connects to your main Capital.com account, so seamless trading is possible no matter where you are. Finally, Capital.com stands out for its educational department, which offers a wide range of learning materials and guides.

Pros

• Licensed CFD platform
• 0% commission and tight spreads
• Minimum debit card deposit is just $20
• Leverage of 1:2 offered on crypto CFDs
• More than 470 crypto markets
• No deposit or withdrawal fees

Cons

• CFDs are complex instruments – consider the enhanced risk of loss

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks.

3. Coinbase – Top Australian Bitcoin Exchange for Beginners

Next up on our comparison list of the best crypto exchanges in Australia is Coinbase. Launched in 2012, this hugely popular exchange is now a publicly-traded company, with Coinbase shares listed on the NASDAQ. The exchange is heavily regulated and has a superb reputation in this space.

Beginners will appreciate the simple investment process at Coinbase, which typically requires just three steps. First, you need to open an account by providing some personal information. Second, you need to verify your identity by uploading some ID. Finally, after entering your credit or debit card details – you can then buy Bitcoin instantly.

When using a credit or debit card at this platform, fees of 3.99% apply. You can alternatively deposit funds by transferring money from your Australian bank account – which is fee-free. When the funds are credited – which can take a few business days, you will then need to pay a commission of 1.49% on your chosen crypto market.

Supported markets on the Coinbase exchange cover over 50 popular cryptocurrencies – all of which can be traded from just $2. Coinbase also offers a mobile app that doubles up as a secure wallet. This can be downloaded free of charge to your Android or iOS phone. Finally, Coinbase offers crypto staking services for those wishing to earn a yield of their digital funds.

Pros

• Regluated in the US and listed on the NASDAQ
• Supports 50+ coins
• Accepts debit/credit cards and bank transfers
• Great security features
• Perfect for beginners

Cons

• High payment and commission fees
• Limited trading tools and features

Cryptoassets are a highly volatile unregulated investment product.

4. Binance – Cheapest Crypto Exchange for Spot Trading

If you’re looking to actively engage in spot trading, Binance could be the best crypto exchange in Australia for you. You won’t be short of trading opportunities at this exchange, with Binance supporting over 1,000 markets. This is inclusive of both fiat-crypto and crypto-cross pairs.

Spot trading fees on this platform cost up to 0.10%, which makes Binance one of the best crypto exchanges in the market. By trading larger volumes, Binance will offer you discounted commissions. This is also the case if you hold the platform’s native token – BNB. We also like Binance for the amount of trading volume it attracts, which ensures that liquidity levels are sufficient at all times.

To fund your Binance account, opt for a fee-free PayID transfer to have the deposit processed super-fast. Crypto deposits are also an option. In addition to low fees and a huge suite of tradable markets, Binance offers crypto savings accounts. This enables you to generate interest on any digital assets that you deposit. Various yields and lock-up terms are available.

You can also engage in yield farming which again, allows you to earn interest on your idle tokens. In terms of safety, two-factor authentication is mandatory on all account login attempts.  Finally, Binance offers a mobile app that not only allows you to trade on the move – but store your crypto assets.

Pros

• Hundreds of coins across 1,000+ markets
• Low commissions of just 0.10% per slide
• Supports fiat money deposits and withdrawals
• Great tools for advanced traders
• One of the largest crypto exchanges for liquidity

Cons

• Not regulated by any licensing body
• Has previously been hacked

Cryptoassets are a highly volatile unregulated investment product.

5. AvaTrade – Regulated Crypto CFD Trading Platform

AvaTrade, just like the previously reviewed Capital.com, specializes in CFD instruments. Once again, this means that you trade crypto assets with leverage of up to 1:2 and attempt to profit from both rising and falling prices. And, AvaTrade allows you to trade crypto CFDs on a 0% commission basis. 

This top-rated platform is regulated by numerous bodies – including that of ASIC. This ensures that you can buy and sell crypto instruments in a safe environment. AvaTrade is potentially best-suited for seasoned crypto traders, as its native platform offers highly advanced tools and technical indicators.  

AvaTrade also allows you to trade crypto via MT4 and MT5. We also like this platform for its diverse range of assets, which, in addition to crypto, also includes stocks, indices, metals, and more. AvaTrade requires a minimum deposit of $100 to get started with an account, and you can add funds via a debit/credit card or bank wire.

Australians pay no deposit fees at this platform. If you wish to trade on the move, download the AvaTrade mobile app – which is compatible with Android and iOS smartphones. AvaTrade also offers educational guides and tutorials, should you wish to improve your crypto trading skills.

Pros

• Regulated by several bodies – including ASIC
• Minimum deposit just $100 – and no transaction fees
• Leverage and short-selling supported
• Accounts take just minutes to open
• Top-rated mobile app

Cons

• Limited number of crypto markets
• Best-suited for seasoned trading pros

The Best Crypto Exchanges Australia Compared

The crypto exchange ranking comparison table below summarizes our reviews of the top five providers discussed above.

How do Cryptocurrency Exchanges Work?

Top crypto exchanges in Australia enable you to access the digital currency markets. Initially, you will need to open an account and – assuming that you are using a regulated provider, upload some ID. After that, you can buy and sell your chosen cryptocurrencies from the comfort of home.

When you place an order at your chosen crypto exchange, you typically need to pay a commission. This is how the crypto exchanges generate revenue. Depending on your chosen exchange, you might be matched with other market participants when you enter and exit positions. This is why it’s important to choose a crypto exchange with sufficient levels of liquidity.

With that said, platforms like eToro and Coinbase double up as a broker, meaning that you can buy cryptocurrency directly from the platform itself. You then have platforms like Capital.com and AvaTrade – which offer crypto CFDs. Although you won’t own the underlying digital tokens when trading CFDs, this marketplace allows you to access leverage and short-selling facilities.

Ultimately, if you want to buy or sell crypto in Australia, you need to have an account with a platform that meets your requirements. Core metrics to consider for this purpose – which we cover in more detail shortly, include supported markets, fees, minimum account balances, trading tools, customer service, and of course – regulation.

Cryptoassets are a highly volatile unregulated investment product. 68% of retail investor accounts lose money when trading CFDs with this provider

How to Choose the Best Cryptocurrency Exchange for You

Choosing the best crypto exchange in Australia for your personal requirements is a simple process when you know what to look for.

As such, when researching the many exchanges in this marketplace, consider the key metrics discussed below.

Regulation

As noted earlier, it is imperative that you only open an account with a crypto exchange that is adequately regulated. Coinbase, for instance, is regulated in the US.

You then have eToro, which is not only regulated by the Australian licensing body ASIC – but with the FCA, SEC, and CySEC. Choosing a regulated exchange will ultimately ensure that you can buy, sell, and trade crypto in safety.

On the other hand, you will likely come across a large number of platforms that hold no regulatory license.

Although these platforms might offer huge leverage facilities, super-low fees, and an abundance of sign-up offers – you should avoid using a crypto exchange that is not licensed.

Tradable Cryptos

If you checked out our comparison table of the five best crypto exchanges in Australia, you will have noticed that there is a vast disparity in the number of supported markets.

For instance, although AvaTrade is a great platform for seasoned pros that seek leverage and high-level trading tools, it only supported 13 crypto markets. At the other end of the spectrum, Capital.com supports no less than 470+ crypto pairs.

Many of these pairs can be traded against the Australian dollar – such as BTC/AUD and ETH/AUD. eToro is also good for asset diversification, as the platform supports dozens of crypto markets.

Sign-up Offers

Some Australian crypto exchanges will offer a sign-up bonus to customers that are yet to open an account. This could, for example, include a free allocation of Bitcoin when you deposit or trade a certain amount.

However, these offers typically come with unfavorable terms and conditions. As such, we would suggest that you avoid choosing a crypto exchange based on a sign-up offer alone. Instead, consider more important metrics – such as regulation and fees.

Trading Fees

Trading fees typically center on two key factors – commissions and the spread. The former is often charged as a variable fee against your stake.

• For instance, for trades above $200, Coinbase charges a commission of 1.49%.
• As such, a $1,000 trade would cost you a commission of $14.90.
• You would again need to pay this commission when closing your position.
• CFD platforms like Capital.com and AvaTrade do not charge commissions, so you only need to cover the spread.

The spread is a fee that is rarely advertised by crypto exchanges. This is because it refers to the gap – or spread, between the bid and ask price of the crypto you are looking to buy or sell. The wider that this spread is, the more that you pay in fees.

Non-Trading Fees

You also need to consider non-trading fees in your search for the best crypto exchange in Australia. For instance, you might need to pay a deposit fee when funding your account – especially if opting for a debit or credit card.

Coinbase charges 3.99% on debit/credit card payments, while at eToro, this will cost you just 0.5%. Capital.com and AvaTrade charge no fees at all on debit/credit card deposits – or any supported payment method for that matter.

You also need to check what withdrawal fees apply to your chosen payment type. Moreover, if you’re planning to trade crypto with leverage, you also need to consider daily funding rates.

Tools & Features

Another factor to consider in your search for the best Bitcoin exchange in Australia is what tools and features you will have access to.

This might include advanced trading tools like technical indicators and short-selling facilities, alongside leveraged and crypto-centric derivatives.

Or, if you’re looking to trade passively, you might want to consider the copy trading tool offered by eToro. As noted earlier, this allows you to copy a seasoned trader at an investment amount you feel comfortable with.

Other core features to look for include managed portfolios. Again, this is something offered by eToro via its smart portfolio service. This is inclusive of a managed crypto portfolio that covers more than a dozen digital tokens.

Payment Methods

Unless you already have some crypto tokens to hand, you will need to fund your exchange account with fiat money – e.g. Australian dollars. All of the five platforms that we reviewed today support a number of fast and convenient payment methods.

For example, at eToro, you can take your pick from a debit/credit card, e-wallet, or bank transfer. Over at Binance, you transfer funds via PayID.

Customer Service

The best Bitcoin exchanges in Australia that we came across during the research process offer excellent customer service. This often includes a live chat service that operates 24/7.

Take note, if your chosen exchange only offers support via email. this means that receiving assistance on your account will be a cumbersome process. After all, you won’t be able to speak with an agent in real-time.

How to Use a Crypto Exchange

If you’re ready to start buying and selling digital currencies at the best crypto exchange in Australia – eToro, follow the step-by-step walkthrough below.

In just five minutes, you’ll have a verified eToro account that gives you access to dozens of crypto markets at industry-leading fees.

Step 1: Open an eToro Crypto Account 

You will first need to register an account at eToro – which you can do by clicking on the ‘Join Now‘ button. A registration form will then populate, which initially will ask you to enter your name, email address, cell phone number, and a preferred username. 

Once you click on ‘Create Account’, you will be asked for some additional information – such as your date of birth, national tax number, and residential address. 

Step 2: Verify Account

The best thing about using eToro to trade crypto is that the platform is authorized and regulated by ASIC. This does, however, mean that you will need to verify your account before you can start trading.

First, to verify your identity, upload a copy of your passport or driver’s license. To verify your residential status, upload a recently issued document with your name and address on it. A bank statement or utility bill will suffice.

Step 3: Deposit Funds

Chose your preferred deposit method from a debit/credit card, bank transfer, Paypal, Skrill, and more. All deposit types attract a small fee of just 0.5%.

And, the minimum deposit amounts to just $50 for Australian traders.

Step 4: Search for Crypto

You can search for the crypto that you wish to trade – should you know which marketplace interests you. As you can see in the image below, we are searching for Bitcoin.

You can also click on the ‘Discover’ button. After clicking on ‘Crypto’, to can view each and every digital asset market supporter by this platform.

Step 5: Buy Bitcoin

When you see the crypto that you want to trade, click on the ‘Trade’ button. This will then present you with an order box – like in the image below.

In the ‘Amount’ box, enter your stake from $10 upwards. Click on the ‘Open Trade’ button to confirm your first crypto trade.

Conclusion

Choosing the best crypto exchange in Australia for fees, security, supported coins, customer service, and more, is a crucial stage of investing in digital currencies. This guide has helped clear the mist – so you now have a firm idea of which providers to consider.

To get started with a trading account right now – eToro came out as the overall best Bitcoin exchange in Australia for 2022.

At this platform, you can trade dozens of digital currencies at industry-leading fees and, most importantly, the exchange is licensed by ASIC.

Cryptoassets are a highly volatile unregulated investment product. 68% of retail investor accounts lose money when trading CFDs with this provider

Frequently Asked Questions on Crypto Exchanges in Australia

What is a crypto exchange?

Once you open an account with a crypto exchange, you will be able to buy and sell digital assets like Bitcoin and Ethereum. The exchange sits between you and the crypto markets – so will charge fees for trading.   

What crypto exchanges can I use in Australia?

Australians have access to dozen of crypto exchanges – both domestically and internationally. However, the best crypto exchange for safety and low fees is eToro – which is regulated by ASIC.   

What is the best cryptocurrency exchange in Australia?

We found that eToro is the best Australian crypto exchange, not least because it allows you to trade digital currencies from just $10 and super-low fees. Moreover, eToro is ASIC-regulated.     

Which crypto exchange has the lowest fees in Australia?

You can trade crypto CFDs at Capital.com on a 0% commission basis. If spot trading is more your thing, Binance charges just 0.10% per slide. Binance is also the biggest crypto exchange for trading volume.   

What is the safest crypto exchange in Australia?

The safest exchanges in Australia are those regulated by Australia. This is inclusive of eToro, Capital.com, and AvaTrade.