Are you planning to invest in cryptocurrencies but are unsure where to buy your digital coins? Fret not because the days of paper cash are moving behind us!
Digital assets are rapidly taking root as a mainstream form of payment, and the world has accepted cryptocurrency and has slowly adopted and incorporated it into different sectors. Nevertheless, legislation differs by country, and there are some availability differences based on location.
Regardless of whether you are staying in Australia or planning to relocate there, it’s important to know which exchanges are available to continue your crypto career with.
Australia embraced the use of Bitcoin in 2013 and officially confirmed cryptocurrencies in 2017. Thus, we have compiled a list of companies active in the Australian crypto sector. Note that this list includes not only exchanges, but also brokers and automated systems that connect traders to reliable brokerages.
Whether you are a newbie or an experienced trader, there’s no denying that finding the best crypto platform in Australia can be tricky due to the wide array of choices. To help you, we’ve come up with the top 13 crypto platforms in Australia that you might want to check out!
Swyftx is known to be the best crypto platform in Australia. This AUSTRAC-registered crypto exchange offers over 200 cryptocurrencies that allow trading against AUD, BTC and USD, so newbies don’t have to worry about exchanging traditional currencies for cryptos. It has a transparent pricing system, applies AML and KYC policies, and has a highly secure platform that uses 2FA and breached password detection to ensure the safety of its users.
Launched in 2013, CoinSpot is also an Australian cryptocurrency platform that is deemed to be the best platform for beginners due to its easy-to-use interface. This platform also supports a wide range of cryptos – from Bitcoin and Ethereum to lesser-known altcoins. To create an account in this exchange, users must provide a photo of any government-issued ID and a scanned copy of a utility bill. To deposit funds, CoinSpot allows the use of PayID, BPAY, POLi, cash or direct transfers from a bank account.
3. Digital Surge
Digital Surge was established in 2017 and is the newest Australian crypto exchange that has hit the country. One thing that users love most about this exchange is the ease of use it offers to its users. In addition, the fee charge of their transactions is suitable for large traders – with a base fee of 0.5%, which can go as low as 0.1% depending on trading volume.
Rather than a broker or an exchange, Bitcoin Loophole offers a completely different, yet necessary service for the crypto community in Australia. This fast, easy-to-use platform focuses on introducing aspiring traders to brokerages. It performs background checks of other crypto brokers in order to weed out potential scams, and matches its customers with regulated companies only. In fact, it’s not impossible for Bitcoin Loophole to send you to one of the other options listed here!
When it comes to the best choice for international crypto services, you can find Binance at the top of the list. Launched in 2017, it did not take long for this platform to catch the attention of thousands of traders around the world – this is due to its long list of trading opportunities offered: it even provides its own native token BNB for a discount on trading fees and has top-notch security methods.
Coinbase is known to be the most mainstream crypto brand on an international level. Launched in 2012, this platform eventually followed a highly regulated sequence of growth. This is due to its user-friendly features and easy to navigate interface; it became a hit and is a common recommendation for beginners. In addition, this platform offers various payment methods, trading fees between 1.49% and 3.99%, and superb protection with its 2FA security.
Kraken provides traders with a highly professional environment for spot and futures margin trading, which makes it an exceptionally reliable and experienced platform. This platform takes security very seriously; this is why most of its currencies are offline to ensure their users are safe from hackers. Users can secure their accounts by activating Kraken’s Global Settings Lock and Master Key to block unauthorized account changes.
Also Read: What are Initial DEX Offerings – IDO
EToro is licensed by the Australian Securities Investment Commission and consists of 2,000+ trading products, including ETFs, stocks, cryptocurrencies, etc. What stands out the most among its users is this platform’s copy-trading feature, which allows traders to mimic the trading strategies of other investors, which is very helpful to newbies with no trading experience.
9. Independent Reserve
Independent Reserve is a veteran on the Australian crypto scene, which supports a total of 13 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple and many more. This platform accepts a range of payment methods like bank transfer, SWIFT, PayID, etc. Its users love the incredibly low fees – starting from 0.5%, which can go as low as 0.05% depending on the trading volume.
Crypto.com is a major global player that supports 100+ cryptocurrencies, which makes it an ideal choice for anyone who would like to invest in undiscovered altcoins before they are hyped up. It also offers unique features that few Australian crypto exchanges can match, such as allowing users to trade options and futures contracts, make trades with up to 10x leverage, and earn interest by staking coins.
LocalBitcoins allows traders to buy and sell with other individual traders rather than the wider market. Due to its overall ease of use and being one of the oldest crypto exchanges in the market, this platform gained a loyal user base. However, users of this platform need to proceed with caution because it’s extremely easy to get scammed on the site, especially through PayPal.
Gemini is a New York-based company that is popular for providing a safe place for traders, crypto individuals and establishments to buy, sell, or store their bitcoin and other cryptocurrencies. Aside from its advanced trading platform, secure wallet, custody service, mobile trading app and off-exchange crypto trades, Gemini continues to push the boundaries of mass innovation for an easy and safe way to interact with crypto.
There is a wide variety of options to choose from when it comes to cryptocurrency platforms in Australia. To narrow down your list, it’s wise to base your choices on the important factors that a crypto platform must have, such as security, ease of use, trading charges, customer support, available currencies, location, and deposit methods.