crypto exchange ranking australia

crypto exchange ranking australia

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With cryptocurrency rising in popularity across Australia, there's a growing number of exchanges to choose from if you want to start trading.

Best crypto exchanges Australia in 2022

1. Digital Surge Exchange

Digital Surge is the #1 choice of cryptocurrency platform for Australians. The main reason we place Digital Surge at the top of the list is because of the outstanding results it showed in this 3rd party test on fees and spreads performed by Marketplace Fairness, a top Australian cryptocurrency review site.

Digital Surge showed the lowest combined fees and spreads, averaging just 0.71 per cent, which is 0.4 per cent lower than the closest competitor, Swyftx.

Besides the fees, Digital surge is ideal for beginners who want to get started with trading cryptocurrency. It is easy to use, and is registered with AUSTRAC and ASIC, so you can be sure that this is a safe and legitimate choice. It has been around since 2017 and has over 300 different cryptocurrencies on offer, which you can purchase with AUD directly.

Digital Surge's interface on both the desktop site and mobile app is very easy for users to get accustomed to. All you need to do is click on Buy or Sell when you choose a cryptocurrency; there are no complicated graphs to confuse you if you are new to trading crypto.

However, if you do have some trading experience and want to take advantage of more advanced features like placing limit orders, you can also do this.

All you need is an Australian credit card or bill that accepts BPAY, and you can use the Bitcoin directly from your Digital Surge account to make the payment, which can be really convenient as there's no need to first sell your BTC and withdraw AUD.

Customer support is great with 24/7 availability and the option to contact the team via Live Chat or email. You can use Digital Surge either on the desktop or via the mobile app, making it easy for you to trade anywhere and at any time.

While Digital Surge is often criticised for not having staking available on their platform, this might be something to expect in the future since they are always making improvements. Overall, Digital Surge is the best choice of Australian crypto exchange, especially for beginners without a lot of trading experience.

Over 300 different cryptocurrencies to buy and sell with AUD

Lowest fees and spread of Australian exchanges

Very simple to use and intuitive interface

iOS and Android mobile app available

Various deposit methods including PayID (bank transfer), POLi and cryptocurrency

2. Swyftx Exchange

Swyftx is the #2 option for crypto exchange in Australia, with a huge range of over 280+ coins, and low combined fees and spreads.

The results of this in-depth test show that the average combined fee and spread is only 1.11 per cent. It is an ideal choice for beginners, as they have a platform that is easy to use, a great demo mode to practise trading, low fees, staking, Live Chat support, and $20 free Bitcoin just for signing up.

Being new to crypto trading can be quite a daunting experience, but Swyftx has done a lot to make sure that it is as straightforward as possible. It has a user interface that is easy to navigate and allows you to instantly buy or sell cryptocurrency.

There are no complicated graphs to study, and features like placing limit orders are not essential, although they are available to those who prefer them.

Swyftx has more than 280 cryptocurrencies on offer to trade and they are always adding more coins regularly. As a beginner, you may be struggling to determine the best prices or when to buy crypto, but you can switch to Demo mode easily where you will have $10,000 free virtual money to play with and test out your strategies.

In the Demo mode, the trades are as close to real-life as possible with the prices reflecting the live prices of crypto at the time.

Low fees are another great reason to consider Swyftx if you are looking for an Australian cryptocurrency exchange. Depositing and withdrawing AUD is always free of charge regardless of the payment method you decide to use.

Fees are low at just 0.6 per cent of the transaction, with low spreads and no sudden surprises. If you do run into issues or have any questions that you would like answered, the Live Chat customer support is always responsive, and the advisors are very knowledgeable and happy to help newbies to the crypto industry.

Staking is another great feature of Swyftx that you may be interested in. This feature allows you to earn interest on the crypto coins that you are holding in your account. When you stake, you can increase the amount of crypto that you own. 

What's even better is that it is a very simple feature that anybody can use with just a couple of clicks. However, bear in mind that since Swyftx is mainly designed for beginners and intermediate traders, there are no advanced markets like margin trading or futures available.

Very easy to use with Live Chat support always available

Practice risk-free in the Demo mode with $10,000 virtual money

Over 280 cryptocurrencies available to buy and sell with AUD

Low fees at 0.6 per cent and low spread with no hidden costs

AUSTRAC registered and regulated

Various payment methods including OSKO, PayID, debit and credit card, POLi, bank transfer, and cryptocurrency

3. Coinspot Exchange

CoinSpot first entered the Australian cryptocurrency market in 2013, and they have not slowed down since then. In almost a decade of operation, CoinSpot has grown to become the Australian crypto exchange with the highest number of transactions and the most users, with 2.5 million people using the exchange as of 2022. 

In addition to this, they are also the most externally audited crypto exchange in Australia. They have the credentials to back up their claim of being the most secure and trusted exchange as the only one to receive the ISO 27001 certification.

CoinSpot is excellent for newcomers to crypto as it is very easy to use. There are over 330 cryptocurrencies available to buy and sell instantly, offering one of the largest ranges available from an Australian exchange. However, while some of their coins are not listed anywhere else, the downside is that there is a transaction fee of 1 per cent for instant buys and sells.

It is possible to access lower fees when using CoinSpot by using the market, where the fees for trading crypto are only 0.1 per cent. However, it's important to bear in mind that unlike the instant buy and sell option, there is a limited range of coins available using market trades. 

This may not be a problem if you want to trade the major coins like BTC, ADA, and ETH, however, if you are looking for a smaller altcoin, you will need to use the Instant Buy feature for a 1 per cent fee.

The dashboard is easy to use and simple on both desktop and mobile, making CoinSpot a good option for beginners. A lot of effort has been put into making sure that users have an easy and clutter-free experience on this exchange. You can easily get in touch with the customer support team via Live Chat if you run into any issues.

Staking has also been added to the platform in late 2021, which is an excellent way to earn extra crypto while you hold onto your coins for the long term. CoinSpot currently allows staking on 17 coins, which is the largest number available for staking on any Australian crypto exchange.

The most secure and trusted crypto exchange in Australia

Easy to use with a simple registration process

More than 330 cryptocurrencies available to purchase with AUD instantly

Live Chat available to help with any issues you may have

Supports a range of deposit methods including BPAY, POLi, OSKO, PayID, cash deposit, and cryptocurrency

4. eToro Australia Exchange

eToro is a broker offering a range of trading instruments including cryptocurrency. It is a social trading platform that allows you to comment or post on the News Feed to interact with other users. You can also automatically copy the exact trades of the most successful traders on the exchange.

Despite not being a dedicated cryptocurrency exchange, eToro is worth considering due to a range of excellent features that keep it competitive with the other exchanges. There is a demo account that you can use with $100,000 in virtual money to get started with practicing trading if you are new to the scene. You can take advantage of crypto staking features and even buy crypto CFDs which allows you to make money on the prices of crypto without the need to own the underlying assets.

On the downside, you will only find the thirty most popular cryptocurrencies available on the platform. Commissions are not charged on trades, however, and the fees are reasonable and included in the spreads. You can also either use the desktop site or the mobile app for Android and iOS to trade wherever and whenever is most convenient for you.

Before starting using this platform, it is worth bearing in mind that since it operates in USD, you will need to pay a currency conversion fee when depositing and withdrawing.

Thirty cryptocurrencies available to invest in either by purchasing directly or using a CFD

Bet on the price of crypto to rise or fall with CFDs

Margin trade cryptocurrencies with x2 leverage available

Crypto staking to earn interest on your coins while holding them

Demo account with $100,000 virtual money to practice trading with no risk

5. Binance Exchange

Binance is a feature-rich crypto trading platform, however, it's not Australian and not recommended for beginners. However, it is worth mentioning due to the sheer range of services that it offers, along with competitive fees. When you sign up to Binance, there are tons of features to choose from including margin trading, futures, P2P, and more, along with access to over 300 different cryptocurrency coins.

You can easily use PayID or OSKO to deposit AUD instantly and without any charges and get started with trading right away. Binance is definitely recommended if you are serious about trading. They offer very competitive fees at 0.1 per cent and the platform integrates well with a range of third-party trading bots that allow you to automate your strategy.

On the downside, however, bear in mind that since Binance is not an Australian crypto exchange, you may find yourself having trouble getting verified, and there is no support team to assist. Issues with verifying Australian IDs is a common problem with this platform.

Low flat fee of 0.1% when you trade on the platform

Reduce your trading fees even further with the native exchange cryptocurrency, Binance Coin

Access Binance Lite, a simpler and more user-friendly version of the platform

An ideal option for serious traders with access to more than three hundred coins and low fees

6. Independent Reserve Exchange

Independent Reserve is an Australian cryptocurrency exchange with a trusted record. It actually beats Swyftx, our #2 crypto exchange, with lower trading fees. Large investors can also lower their fees based on the volume of trades. 

When you trade $100,000 or more each month, fees begin to reduce. Those who make very large trades of $20m per month see fees drop to a very low 0.02 per cent.

Independent Reserve is also the only cryptocurrency exchange in Australia to offer insurance on cryptocurrency assets, with cover up to $5m. Along with this, they help to make tax reporting easier with KPMG-powered tax reports.

Independent Reserve has an excellent OTC desk which is ideal for high-net-worth-individuals, businesses, family offices, and SMSFs. It's ideal for traders that are depositing and trading large volumes over $100,000.

Although only 27 cryptocurrencies are supported by Independent Reserve, these are mainly the most popular and globally traded coins.

Security is a priority and insurance is offered for premium accounts

27 cryptocurrencies available to start trading at a fee of 0.5 per cent which reduces based on trade volume

Instant deposits available along with tax reports and automatic dollar-cost averaging

7. Kraken Exchange

Kraken has a lot of similarities with Binance, particularly when it comes to providing various services and coins at low fees. However, one of the main differences between these two exchanges is that Kraken has a higher focus on security and offers fewer coins. 

It is based in the US, meaning that it has to comply with heavy regulation. Due to this, it is considered to be one of the most secure exchanges worldwide. It has a decent interface for advanced trading, and competitive maker/taker fees. 

There is also the option to instantly buy and sell at a fee of 1.5 per cent. You can find a range of great additional features including margin trading, futures, and staking.

On the downside, however, this exchange can be quite limiting for Australian investors as there are only sixteen cryptocurrencies that can be traded against the AUD. However, this will not be a problem for you if you only plan to trade the most popular coins.

A well-designed platform with access to futures, staking, and margin trading

Trade on the go with their mobile application

Live Chat is available 24/7 with a real person to office advice and support

The exchange is focused on security and complies with heavy US regulation

8. Easy Crypto Exchange

Easy Crypto Australia is the perfect exchange if you want to buy crypto straight away. It is different to the other exchanges as it does not hold any crypto or fiat assets on the exchange. You simply click buy when you want to purchase a coin, and this takes you straight to the purchase page where you can send the money directly from your bank without the need to make a deposit beforehand. 

Once you have made the purchase, the crypto isn't stored on the exchange and is sent straight to your wallet. This makes Easy Crypto an ideal choice if you want the safest option for your coins with no need to worry about them being stolen in the event that the exchange is hacked. The 100 per cent funds guarantee on all orders allows you to trade and invest in crypto with peace of mind.

Nothing is stored on the exchange allowing you to take control of your assets

100 per cent funds safety guarantee for each order

No need to deposit before buying crypto with AUD instantly

Fees are transparent and there are no hidden costs

9. Coinstash Exchange

Coinstash is a basic crypto exchange that is easy for beginners to get used to and use. They offer more than 340 different cryptocurrencies that you can buy and sell using AUD. Staking is also available on several exchanges, which is a great addition to this platform and is not often found on the more basic exchanges. 

Live chat is available if you run into any issues, or you can leave a support ticket if you prefer. CoinStash is registered in Australia as a crypto exchange and control an Australian Financial Services Licensee to make sure that users are kept safe. They have been featured in several mainstream media channels and are always improving in terms of popularity and the number of users.

More than 340 different cryptocurrencies to trade

Option to earn interest on various cryptocurrencies

Simple to use with a beginner-friendly interface

Excellent security

10. Elbaite Exchange

If you want to buy and sell cryptocurrency peer-to-peer, Elbaite is an ideal exchange to use, with only 1 per cent fees for buyers and zero fees for sellers. It is a non-custodial P2P marketplace where users can buy and sell cryptocurrencies from traders directly from one cryptocurrency wallet to another. 

Since coins are always stored off the exchange and in your personal wallet, there is no need to worry about having your assets stolen in the event that the exchange is hacked.

An escrow account is used to hold the payment until the Blockchain verifies that the coins you have purchased have been sent to your wallet. This means that buyers will have peace of mind that they are always going to receive the crypto they purchase, and sellers will always get their fiat currency.

Elbaite can work for anybody, but it is a particularly good trading platform for large volume traders who want safety, security, and as much control over their assets as possible.

No seller fees, no commission, and no hidden costs

No funds are stored on the P2P exchange, allowing you full control over your own assets

An escrow account makes sure that transactions are fulfilled

Your personal information is kept anonymous

Visit Elbaite Now

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Disclaimer: this content for informational purposes only. This should not be taken as financial advice to buy, trade, or sell cryptocurrency or use any specific exchange.