Cryptocurrency demand among Australian investors has soared, evident from a Statista survey revealing that one in four Australians own crypto. This trend has spurred a rise in crypto trading platforms, but how do you pick a legitimate and suitable exchange? Our guide to Australia’s top crypto exchanges delves into the leading platforms, evaluating them based on criteria like regulatory compliance, fees, and customer service.
What are Australia’s top crypto exchanges?
| eToro – The best crypto exchange in Australia, innovative copy trading tools |
| Margex – High-Leverage Exchange With A Competitive Fee Mechanism |
| BTCC – Top choice offering up to $15,500 in deposit rewards |
| MEXC – Leading exchange with 0% spot trading fee, 200x leverage, and 1,600+ cryptos |
| Exodus – User-friendly multi-platform wallet with an in-built exchange |
| Kraken – Promising crypto exchange in Australia with competitive fees |
| Bitget – Popular crypto exchange with low fees and 25M+ users |
| Binance – The world’s largest and feature-rich crypto exchange serving Australian users |
| KuCoin – Popular automated crypto trading platform in Australia |
| Prime XBT – Crypto exchange with high leverage and low fees |
| Gate.io – Leading crypto exchange offers crypto loans, margin trading, and copy trading |
| Pionex – Popular for auto-trading bots, offering 16 free built-in bots and a 0.05% trading fee |
| CoinSpot – Aussie crypto exchange based in Victoria |
| Paybis – User-Friendly Platform With Low Fees |
| Crypto.com – Crypto trading platform in Australia for rewarding perks |
| Coinbase – A leading US-based, publicly-traded crypto exchange popular among Australians |
eToro Tops Aussie Exchanges
Looking for the top crypto exchanges in Australia? eToro stands out with its comprehensive offering. Not only does it provide watchlists with real-time insights, customized risk management, and staking services, but it also boasts advanced analysis tools and unique copy trading features. What’s more, eToro goes beyond cryptocurrencies, offering access to a wide array of forex, stocks, and ETFs, making it a one-stop platform for all your trading needs. Its innovative social trading aspect connects you with a thriving community of investors, allowing you to learn from and copy their strategies. Before diving into the real market, you can test your skills with a demo account loaded with AUD 100,000. Aussie traders will appreciate the simplicity and cost-effectiveness of eToro’s AUD deposit options. And when it comes to fees, eToro shines with its competitiveness, charging variable trading fees based on the spread and waiving commissions on initial trades.
| Number of Cryptos | 80 |
| Pricing Structure | Spread-based Fee for Buying Bitcoin 1% |
| Proprietary Wallet | Yes |
| Top Features | – Supports both crypto and stocks – Competitive fee structure – Social media features – Demo account available |
- Best Australian crypto exchange in 2024
- Registered with ASIC
- Pioneer of copy-trading
- Strong community and social focus
- Cons: Limited crypto selection
- High spreads
BTCC
BTCC, serving over 1 million users globally, offers margin trading up to 225x. Originally founded in 2011, the platform has become renowned for its high-leverage trading options, catering to a widespread user base seeking advanced cryptocurrency trading solutions.
- 03% spot trading fees
- 300+ cryptocurrencies
- CoinLedger Rating: 8.9/10
Earn industry-leading profit sharing of 10-15% with BTCC’s latest copy trading feature. Based on their 30-day average assets under management (AUM), lead traders can build their AUM faster by starting early and maximize their earnings with daily profit settlements. Copy traders, on the other hand, can leverage the expertise of proven lead traders and customize their trades with risk management settings like adjusting position size, setting maximum margin, and order-specific take profit and stop loss. With options to trade a fixed amount or a margin ratio, copy traders can tailor their futures trading to their preferences and risk tolerance. Furthermore, they have the flexibility to copy up to 10 lead traders without any restrictions on the number of trades they can replicate. Discover the top 16 exchanges in Australia, featuring BTCC with its industry-leading copy trading. BTCC stands out with simplified trade management, separating copy/lead trades, and offering daily profit settlement. Plus, enjoy higher profit sharing than other platforms. Don’t miss out on these exchanges, providing the ultimate trading experience in Australia.
Pionex
Looking for the top crypto exchanges in Australia? Discover the 16 best platforms, including Pionex, which provides free trading bots for automated transactions, boosting your investment returns.
- Fees: 05% on spot trading
- Cryptocurrencies supported: 120+
- CoinLedger Rating: 1/10
Binance
Binance, a top-tier secure Australian exchange, bounced back strongly after a 2019 hack. They’ve introduced the Binance Coin, offering notable discounts for BNB token holders. Plus, their Binance Visa card lets you spend crypto at over 60 million merchants worldwide. With these innovations, Binance solidifies its position as a leader in the crypto finance sphere.
Binance Australia Pros:
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- World-class exchange offering high liquidity.
- Competitive trading fees, starting at 0.1% for both maker and taker orders.
- Advanced trading platform available on desktop and mobile.
- Diverse range of cryptocurrency services and features.
Kraken
Discover the top 16 exchanges in Australia, featuring Kraken. This American-based platform caters to global investors, offering low fees and supporting advanced transactions. Ideal for seasoned investors seeking a robust trading experience.
- Fees: 0 – 0.26%
- Cryptocurrency selection: 200+
- CoinLedger Rating: 3/10
CoinSpot
With over 2.5 million users and 440+ cryptocurrencies supported, CoinSpot stands as a prominent exchange in Australia. Established in 2013, it’s among the oldest and most trusted platforms in the country.
- Fees: 1% on spot trading
- Cryptocurrency selection: 440+
- CoinLedger Rating: 6/10
How does Australia tax cryptocurrencies?
In Australia, cryptocurrency is taxed as property, subject to Capital Gains Tax (CGT) on financial gains when disposed of. This applies to selling, trading, or using crypto to purchase goods and services. The Australian Taxation Office (ATO) mandates reporting these transactions and paying CGT on profits. Holding crypto for over 12 months before disposing of it may entitle individuals to a 50% CGT discount. Additionally, if cryptocurrencies are part of business transactions, they may be subject to income tax. Regulations are constantly evolving, so users should consult local accountants or financial advisors to ensure compliance with local laws. Keeping detailed records of all crypto transactions, including dates, values, and purposes, is crucial for accurate tax reporting and compliance with Australian tax laws.
Which Crypto Exchanges Support Australian Dollars?
Boost your crypto trading! Binance, Kraken, Bitget, KuCoin, and Exolix now offer AUD support, making it easier for Aussies to buy and sell digital assets.
What’s the Top Bitcoin Wallet Choice for Australians?
When it comes to Bitcoin wallets in Australia, choosing the best one depends on individual needs. Top picks include Ledger for its hardware wallets, offering enhanced security. For user-friendly options, Exodus and Trust Wallet stand out, providing both mobile and desktop versions with robust security features.
Which Australian Banks Permit the Purchase of Bitcoin?
Most major banks in Australia permit cryptocurrency purchases, but it’s crucial to verify any specific restrictions or policies with your bank. Generally, banks like Commonwealth Bank, ANZ, Westpac, and NAB allow crypto transactions, although individual experiences may differ. Before making any moves, ensure you’re fully informed about your bank’s stance on digital currencies to avoid any potential issues.
Do Bitcoin ATMs Exist in Australia?
Bitcoin ATMs are indeed operational in Australia, facilitating cash transactions for buying or selling Bitcoin. These ATMs are strategically placed in major cities and are steadily expanding their presence throughout the nation.