Best Crypto Exchanges In Australia 2024 – Compare Top Bitcoin Exchanges

Our panel of crypto experts and analysts have rated and reviewed the best crypto exchanges in Australia. Compare their Top featured to find the best online crypto exchanges.

In Australia, the crypto landscape continues to evolve, with new exchanges emerging and existing ones enhancing their services. To ensure a seamless trading journey, it is always significant to choose the right exchange. This guide aims to provide an overview of the country’s crypto landscape and a review over 10+ top providers.

List of the Best Crypto Exchanges in Australia

Below we have put together a comprehensive list of the top crypto exchanges available for Australia users. Continue reading below and check out each detailed review of these top-rated trading platforms and exchanges.

1. eToro – Overall The Best Crypto Exchange in Australia for Trading
   
2. Bybit – Leading Exchange Platform in Australia Offers 100x Leverage on Derivatives
3. Plus500 – One of the Most Trusted Trading Platform in the World
4. Binance – Popular Crypto Exchange for Active Traders
5. Coinbase – Best Crypto Exchanges in Australia for Beginners
6. Kucoin – Wide variety of Crypto Assets
7. Crypto.com – Most Preferred Crypto Platform for Beginners
8. PrimeXBT – Best Exchange with High-Leverage Options
9. Digital Surge – Created With the Mission of Making Crypto Accessible to Australians
10. Swyftx – Top Australian Exchange with Advanced Tools
11. OKX – Most Popular Exchange that Offers Flexible Staking Yields
12. MEXC – Top Crypto Exchange for Spot Trading
13. Kraken – Well-Established & Reliable Cryptocurrency Exchange

Crypto assets are unregulated and highly speculative. Capital at risk.

Best Bitcoin and Crypto Exchanges in Australia Reviewed

When it comes to navigating the dynamic world of cryptocurrencies in Australia, selecting the right crypto exchange is crucial. However, with many options available, making the right choice boils down to aligning with your unique priorities and preferences.

For instance, while prioritising a regulated platform offering a secure investment environment is fundamental, your focus might also lean towards minimising transaction fees or accessing sophisticated trading tools. Moreover, if delving into leveraged cryptocurrency investments intrigues you, it’s essential to assess which markets the exchange supports.

We’ve meticulously reviewed 13 of Australia’s leading crypto exchanges to simplify your decision-making journey. Dive into our comprehensive assessments below to find the perfect fit for your crypto endeavours.

1. eToro – Overall the Best Crypto Exchange in Australia for Trading

eToro stands out as a leading crypto exchange in Australia, boasting a vast array of investment options that cater to Australian investors and traders. With a global user base exceeding 30 million, eToro is widely trusted and holds licenses to operate in numerous countries.

The exchange has ensured the safety of client funds and brokerage services since its establishment in 2007. The platform is regulated in multiple jurisdictions, including two tier-1 and one tier-2, underscoring its reliability for trading forex and CFDs.

Unique Features of eToro

eToro excels in features like copy trading, user-friendliness, and its appeal to novice traders. Its Academy offers a wealth of educational videos, facilitating learning about trading and investing. Notably, eToro’s copy-trading platform allows users to mimic the strategies of seasoned investors or gain rewards for sharing their own.

Its intuitive web platform and mobile app further enhance its appeal, particularly for beginners and casual investors, making it an excellent choice for those seeking ease of use and accessibility. Since obtaining ASIC regulation in 2017 under AFSL 491139, eToro Australia has continually enhanced and tailored its product lineup to suit the local market’s needs. 

Platform Overview

Why Is eToro one of the Best Crypto Exchanges in Australia?

As mentioned, central to its offerings are copy trading and social trading services, areas where eToro has established itself as a trailblazer. These features enable traders to emulate the trading strategies of designated Lead traders.

Being a prominent social trading platform, eToro has amassed a user base exceeding 30 million. With a multitude of features and support for thousands of assets, users have ample opportunities to construct diversified portfolios.

Read more:

• eToro VS Coinbase
• Binance VS eToro

Crypto assets are unregulated and highly speculative. Capital at risk.

2. Bybit – Leading Exchange Platform in Australia Offers 100x Leverage on Derivatives

At the forefront of Australia’s crypto landscape stands Bybit, hailed as one of the best crypto exchanges in Australia for leveraged traders. Boasting a staggering daily trading volume exceeding $10 billion, Bybit garners attention for its comprehensive offerings that cater to every facet of a crypto trader’s checklist.

With a keen eye on user affordability, Bybit sets itself apart with impressively low fees, standing at a mere 0.1% for Spot Trading and delivering highly competitive rates for Derivatives Trading, with makers enjoying a fee as low as 0.02% and takers at 0.055%.

Originally established as a derivatives trading platform, Bybit responded adeptly to market demand by introducing Spot trading functionality in 2021. This expansion now allows users to seamlessly trade over 280+ different coins against USDT, providing a diverse array of options to suit varied investment strategies.

Unique Features of Bybit Platform

One of the standout features of Bybit is the introduction of ‘TradeGPT’, a revolutionary AI-powered investment assistant. This cutting-edge tool furnishes users with up-to-the-minute insights into the crypto space, equips them with essential trading tools, and even suggests potential investment strategies, all powered by advanced artificial intelligence.

Moreover, Bybit offers a plethora of avenues for users to earn passive income. Through Bybit Earn products like Flexi Savings, Liquidity Mining, Dual Asset, and Shark Fin, users can enjoy competitive annualised percentage yields, reaching up to an impressive 479.43%.

For those looking to dip their toes into crypto trading without risking real money, Bybit’s demo account provides a risk-free environment to hone trading skills. Additionally, users can leverage cryptocurrency loans and lending services offered by Bybit to diversify their investment strategies further.

Derivatives trading remains a cornerstone of Bybit’s offerings. With future derivatives, users can lock in fixed prices for specified tokens, providing a hedge against market volatility and opening up avenues for strategic investment decisions.

Platform Overview

Why Bybit?

Bybit’s foray into the realm of DeFi mining is yet another feather in its cap. Through this program, users can earn yields from various DeFi platforms, such as Curve, by staking assets via Bybit, facilitating seamless participation in DeFi without the hassle of complex wallet management.

Should users encounter any hurdles while navigating the platform, Bybit’s customer support is readily accessible with 24/7 live support, ensuring prompt resolution of queries and issues. This commitment to user satisfaction, coupled with an intuitive and user-friendly interface, underscores why Bybit stands tall as the premier crypto exchange in Australia.

Furthermore, Bybit’s support for a burgeoning NFT marketplace adds another dimension to its offerings. Users can explore, buy, sell, and swap a diverse array of non-fungible tokens, albeit with the requirement to contact Bybit’s support team directly to sell their own NFT mints.

In essence, Bybit’s relentless pursuit of innovation, coupled with its commitment to user empowerment and satisfaction, cements its reputation as a trailblazer in Australia’s crypto landscape.

One of Bybit’s standout features lies in its utilisation of automatic trading bots, offering users the opportunity to engage in automated trading with ease. Among these bots, the ‘Spot Grid’ emerges as a popular choice, harnessing market analysis to execute trades at optimal prices, buying low and selling high for maximum returns.

3. Plus500 – One of the Most Trusted Crypto Exchange in the World

Plus500 stands as a trusted platform for financial trading, having been established in 2013 and listed on the London Stock Exchange. Regulated by various government agencies globally, including ASIC, FSA, and CySec, Plus500 ensures adherence to strict standards of security and compliance. As a member of the FTSE250 Index, the platform offers credibility and stability to its users.

With a diverse array of over 2,000 financial instruments available for trading, including currencies, commodities, indices, options, and ETFs, Plus500 caters to the diverse needs of traders. While the platform offers leading crypto CFDs like Bitcoin, Ethereum, Solana, Polygon, and Polkadot, its range in this area is comparatively smaller than some competitors.

Nonetheless, Plus500 remains a reputable choice for traders seeking a reliable and regulated platform for financial transactions.

Unique Features of Plus 500

In the realm of crypto exchanges in Australia, Plus500 stands out as a top choice, offering a host of features and benefits that cater to both novice and experienced traders alike. Originating from Israel, Plus500 has cemented its position as a leader in the CFD industry, thanks to its cutting-edge proprietary trading platform. Unlike many platforms, Plus500’s web-based interface eliminates the need for downloads or complex setup processes, making it particularly appealing to beginners.

With a minimum opening balance of just $100, Plus500 ensures accessibility for traders of all levels. Moreover, the platform’s provision of demo accounts allows users to practice trading without risking real money, serving as an invaluable tool for familiarising oneself with its offerings.

Platform Overview 

Why Plus500?

One of Plus500’s distinguishing features is its commitment to transparency and user protection. All clients benefit from negative balance protection, and funds are securely held in segregated accounts, instilling confidence and peace of mind among traders.

Renowned for its tight spreads and transparent fee structures, Plus500 empowers traders to capitalise on global market trends effectively. The platform’s website is a treasure of information, with regulatory statuses listed and fees transparently outlined, fostering trust and reliability among users.

Plus500’s trading platform, trusted by millions worldwide, offers a seamless trading experience enriched by unique tools like its +Insights section, which leverages data from its extensive client community to provide valuable market insights.

In summary, Plus500’s user-friendly interface, commitment to transparency, and robust trading platform make it a standout choice for crypto traders in Australia, solidifying its reputation as one of the best crypto exchanges in Australia.

4. Binance – Popular Crypto Exchange for Active Traders

Since its inception in 2017, Binance has swiftly risen to become the preeminent cryptocurrency platform globally. Renowned for its extensive offerings and user-friendly interface, Binance stands out as the go-to choice for traders seeking active engagement in spot trading.

With over 1,000 markets supported, traders on Binance are spoiled for choice, encompassing both fiat-crypto and crypto-cross pairs, ensuring a plethora of trading opportunities for users in Australia and beyond.

Unique Features of Binance

Binance has solidified its position as one of the best crypto exchanges in Australia, offering a myriad of features and benefits that cater to the diverse needs of traders. One of the standout aspects of Binance is its competitive spot trading fees, which are capped at 0.10%, positioning it as one of the most cost-effective options in the market. Moreover, traders can enjoy discounted commissions by trading larger volumes or holding Binance’s native token, BNB, further enhancing cost savings.

Beyond its low fees, Binance boasts a vast array of tradable markets, with over 1,000 markets supported, ensuring ample liquidity at all times. Additionally, the platform offers crypto savings accounts, allowing users to earn interest on deposited digital assets, with various yields and lock-up terms available. Furthermore, users can engage in yield farming to generate interest in idle tokens, further maximising potential returns.

Platform Overview

Why Binance?

Binance prioritises user protection with mandatory two-factor authentication on all account login attempts, providing an added layer of defense against unauthorised access. Moreover, Binance’s mobile app not only facilitates on-the-go trading but also serves as a secure storage solution for crypto assets.

As a regulated entity, Binance Australia adheres to stringent protocols and guidelines mandated by regulators, ensuring the safety, transparency, and compliance of its operations with Australian financial regulations.

However, it’s important to note that the parent company, Binance, has faced regulatory challenges, including the cancellation of its Australian financial services license by the Australian Securities and Investments Commission (ASIC), which may impact its local operations. Binance remains a reputable and popular choice for crypto trading in Australia, thanks to its robust features, competitive fees, and commitment to user security and satisfaction.

5. Coinbase – Best Crypto Exchanges in Australia for Beginners

Established in 2012, Coinbase is a renowned global digital currency exchange that has garnered immense popularity across more than 100 countries, including Australia. With a staggering customer base exceeding 103 million investors, traders, and crypto enthusiasts, Coinbase stands out as one of the leading cryptocurrency exchanges globally.

Catering primarily to beginner investors, the platform distinguishes itself with its user-friendly interface and robust security measures. Its straightforward UI and adequate security protocols are commendable. However, some users may seek additional services beyond what Coinbase offers.

For novice investors, Coinbase offers a seamless investment process typically comprising just three steps. Firstly, users are required to open an account by providing basic personal information. Secondly, identity verification is conducted by uploading an ID document. Finally, upon entering credit or debit card details, users can instantly purchase Bitcoin, making the investment process hassle-free and accessible even to beginners.

Unique Features of Coinbase

Coinbase stands out in Australia’s crypto landscape due to its diverse array of products and services. It offers a wide range of digital assets for trading, along with features like crypto borrowing and lending, interest-earning wallets, and an NFT marketplace. With support for over 50 popular cryptocurrencies, trading on Coinbase starts from just $2.

The platform’s mobile app doubles as a secure wallet and is available for free on Android and iOS devices. Coinbase also provides crypto staking services for users looking to earn yields on their digital assets.

Platform Overview

Why Coinbase?

The platform has stringent security measures, making it one of the best crypto exchanges in Australia. It includes offline storage of 98% of digital assets, encryption of sensitive data using AES-256 standards, and robust organizational processes. These factors combined make Coinbase a top choice for crypto enthusiasts in Australia.

Coinbase offers crypto staking services, enabling users to earn yields on their digital funds, further enhancing the platform’s appeal to investors seeking to maximise returns.

With over a decade of experience in the industry and a customer base exceeding 103 million worldwide, Coinbase has demonstrated its commitment to providing a secure and user-friendly platform for crypto trading and investment. The platform’s intuitive interface, coupled with its emphasis on regulatory compliance and customer protection, further reinforces its standing as a preferred choice among crypto enthusiasts.

5. Kucoin – Wide variety of Crypto Assets

KuCoin is next on our list of the leading crypto exchanges in Australia, drawing favour from both novice and seasoned traders alike. Renowned for its advanced trading features, including trading bots and futures markets, KuCoin caters to traders seeking sophisticated trading tools.

Unique Features of Kucoin

The exchange offers tiered trading discounts, enhancing cost-effectiveness for active traders.

This widely acclaimed cryptocurrency trading platform facilitates derivatives markets and spot trading and grants access to NFT marketplaces. With a diverse selection of over 700 cryptocurrencies available, users can engage in trading with a nominal spot trading fee of just 0.1% per transaction.

KuCoin allows users to stake certain cryptocurrencies and earn rewards in the form of additional tokens or interest. Staking provides users with a passive income stream while also contributing to the security and decentralisation of supported blockchain networks.

Platform Overview

Why Kucoin?

Operating in over 200 countries, KuCoin stands out as a frontrunner in listing emerging and trending coins, making it particularly appealing to investors seeking early access to the latest crypto trading opportunities. With its comprehensive range of features and global accessibility, KuCoin continues to solidify its position as a preferred choice among crypto traders worldwide.

One unique feature of KuCoin is its KuCoin Spotlight platform. KuCoin Spotlight is a token launch platform that allows users to participate in token sales for promising new projects. Unlike traditional Initial Coin Offerings (ICOs) or Initial Exchange Offerings (IEOs), KuCoin Spotlight operates on a lottery system, where users can acquire tickets by holding KuCoin Shares (KCS) or by completing certain tasks on the platform.

Once users acquire tickets, they have the opportunity to participate in token sales for new projects at a predetermined price. This provides users with early access to potentially groundbreaking projects and allows them to capitalize on investment opportunities before they become widely available on other exchanges.

7. Crypto.Com – Most Preferred Crypto Platform for Beginners

Crypto.com emerges as the next top contender among the top crypto exchanges in Australia. With its exponential growth over the past 18 months, Crypto.com now caters to over 10 million registered users. Renowned for its user-friendly trading experience, Crypto.com offers clients the opportunity to invest in a diverse selection of over 250 cryptocurrencies.

Unique Features of Crypto.com

The platform boasts numerous features and advanced tools that cater to all traders. For users of the Crypto.com Exchange, maker and taker fees are highly competitive, catering to those seeking value for money in spot trading. Additionally, beginners may find the dedicated Crypto.com app to be more user-friendly and available on both iOS and Android platforms. Acting as the central hub for the Crypto.com trading experience, the app allows users to buy cryptocurrency instantly using a credit or debit card.

While this approach typically incurs a fee of up to 4%, Crypto.com offers a waiver of this fee for the first 30 days of trading, further enhancing its appeal to newcomers. Moreover, users can make free AUD deposits on the app and utilize the funds to purchase crypto, with simple price charts and real-time data readily available for monitoring price movements.

Platform Overview

Why Crypto.Com?

Particularly noteworthy is the Crypto.com Visa debit card, which provides investors with unparalleled utility and everyday usability. This unique feature elevates the Crypto.com trading experience, offering levels of convenience that other exchanges can only aspire to.

The platform also provides a convenient crypto debit card, enabling users to spend their trading balance online or in-store as if it were AUD, adding an extra layer of versatility to the platform. With its comprehensive suite of features, including buying and selling crypto, earning rewards on holdings, and seamless spending with the Crypto.com debit card, Crypto.com aims to be the ultimate super app for crypto investing.

Crypto.com’s Crypto Pay feature allows users to pay for goods and services with cryptocurrency at participating merchants. This feature enhances the utility of cryptocurrency by enabling real-world transactions.

8. PrimeXBT – Best Exchange with High-Leverage Options

PrimeXBT, a widely utilised crypto exchange boasting a user base of over 1 million registered traders, facilitates the trading of crypto CFDs (Contracts for Differences). It caters to two main demographics: Australian traders seeking Bitcoin margin trading opportunities without identity verification and beginners interested in copy trading. However, advanced traders may find PrimeXBT lacking in comparison to other crypto exchanges and may opt for alternative platforms.

Unique Features of PrimeXBT

PrimeXBT stands out for several reasons, making it a top choice for crypto traders in Australia. Upon registration, users can benefit from a deposit bonus of $100 by depositing $500 within 48 hours, with no minimum deposit requirement. The platform offers customizable charting software with over 50 charting indicators, empowering traders with advanced technical analysis tools.

One of PrimeXBT’s key strengths is its lightning-fast execution times. It also has significantly higher leverage compared to competitors like Avatrade and FP Markets. This high leverage extends beyond crypto trading, also applying to forex and commodities. This provides traders with ample opportunities for profit.

Platform Overview

Why PrimeXBT?

To ensure the security of users’ assets, PrimeXBT employs multi-signature access and a robust trading engine. It is capable of processing transactions at a remarkable speed of just 7.12 milliseconds. Beginners can leverage the platform’s copy trading tools to replicate the trades of experienced investors. This offers a valuable learning opportunity and potentially boosts profitability.

PrimeXBT’s proprietary copy trading solution further enhances the trading experience. Users and novice traders can gain insights from successful investors and potentially achieve their investment goals with greater confidence. These features collectively contribute to PrimeXBT’s reputation as one of the best crypto exchanges in Australia.

9. Digital Surge – Created With the Mission of Making Crypto Accessible to Australians

Digital Surge emerges as a strong option for individuals looking to enter the crypto market. Its transparent fee system, emphasis on security, and focus on delivering a seamless trading experience, coupled with outstanding customer service, position it as a formidable contender in Australia’s cryptocurrency exchange arena.

With access to over 300 cryptocurrencies, the platform provides various essential features for investors with long-term goals, including recurring buy options. This allows users to systematically invest in their chosen cryptocurrencies, while features like price alerts and limit orders assist in securing favourable prices amid market fluctuations.

Unique Features of Digital Surge

Digital Surge earns its reputation as one of the leading exchanges in Australia by offering affordability and accessibility to crypto investors. With free fiat deposits and withdrawals, trading cryptocurrency incurs just a 0.5% fee per trade, which can be discounted to as low as 0.1% for high-volume traders exceeding AUD 1 million monthly.

The convenience of a mobile app ensures users can capitalise on buying opportunities anytime, anywhere. More than just a trading platform, Digital Surge is dedicated to democratising crypto for Australians, reflected in its user-friendly interface and commitment to simplifying the complexities of digital assets.

Platform Overview

Why Digital Surge?

Exceptional customer support is a defining feature of Digital Surge, with a responsive team dedicated to addressing customer inquiries promptly and effectively. Their proactive approach underscores a steadfast commitment to delivering outstanding service to users navigating the dynamic landscape of cryptocurrencies.

Maintaining trust and managing user expectations are paramount in cryptocurrency exchanges, and a transparent fee structure is essential for achieving these goals. Digital Surge prioritises clarity and user-centricity in its fee system, ensuring that trading fees are not only transparent but also structured to cater to the diverse needs of both novice and experienced traders.

10. Swyftx – Top Australian exchange with advanced tools

Swyftx stands out as an excellent choice for crypto enthusiasts who are actively trading. This platform offers a range of advanced features tailored for traders, including options for stop and limit orders, price alerts, and various other tools.

Rather than creating its own charting interface from scratch, Swyftx has opted to integrate with one of the most renowned charting platforms in the market, TradingView. Through this integration, users can enjoy access to a wide array of technical indicators and unparalleled customisation possibilities.

Unique Features of Swyftx

A standout feature of this best crypto exchange in Australia is its transparent pricing model. While its fixed trading fee of 0.6% is competitive, what sets Swyftx apart is its exceptionally low crypto spreads, which can dip as low as 0.41% for high liquidity assets such as Bitcoin. This transparency in pricing, especially with spreads being prominently displayed, distinguishes Swyftx from other exchanges in Australia.

Additionally, Swyftx boasts registration with AUSTRAC, the regulatory authority in Australia, enhancing its credibility and trustworthiness among users. The platform’s commitment to customer support is evident through its provision of 24/7 live chat assistance, ensuring that users can resolve any issues promptly. Moreover, Swyftx’s accessibility is noteworthy, with the option to start investing with as little as $1 and no deposit or withdrawal fees for fiat currency transactions.

Platform Overview

Why Swyftx?

Beyond its financial aspects, Swyftx’s user-friendly interface, support for recurring purchases, and live chat functionality cater to both seasoned traders and newcomers to the world of cryptocurrency, making it a convenient and comfortable choice for all levels of investors.

Swyftx offers a unique demo mode, allowing users to hone their trading skills without any financial risk. The crypto demo account mirrors real trading volumes for all cryptocurrencies available on the Swyftx exchange. With a virtual balance of $10,000, users can trade, invest, and experiment with different strategies, making it an invaluable tool for beginners eager to enter the crypto market without the fear of losing their funds.

11. OKX – Most popular exchange that offers flexible staking yields

The Seychelles-headquartered OKX exchange has risen to become the second-largest platform globally for trading cryptocurrency derivatives based on trading volume. Targeting experienced traders, it provides a range of sophisticated features, including futures trading, automated trading algorithms, and margin trading. With a user base exceeding 50 million individuals, the exchange attracts a diverse clientele.

For novice traders, OKX offers educational resources through its ‘Learn Section,’ providing access to online journals and insights into the cryptocurrency realm. Additionally, through OKX Loans, investors have the opportunity to secure loans by pledging their assets as collateral. Crypto-based loans.

Unique Features of OKX

OKX stands out with its trading bot marketplace, offering a variety of pre-built bots like DCA, grid, arbitrage, and slicing bots, along with the option to create your own or replicate existing ones from the marketplace. These bots can be filtered based on metrics like Profit & Loss, drawdown level, and runtime, making OKX a preferred choice for utilising crypto bots.

Starting from a low 0.1% per transaction, OKX’s spot trading fees become even more attractive for OKB token holders, who can enjoy discounts reducing fees to as low as 0.08% per transaction. Additionally, OKX introduces unique features such as ‘Simple Earn,’ providing flexible staking yields for locked tokens, with potential earnings of up to 5% APYs when staking Bitcoin (BTC).

Platform Overview

Why OKX?

The platform offers ‘Jumpstart,’ granting users early access to new cryptocurrency projects. Through OKX’s peer-to-peer trading option, Australian users can utilise their AUD to purchase cryptocurrencies via Osko bank transfers, Neteller, and other payment methods. Notably, SEPA bank transfers require just a $1 minimum deposit.

OKX provides a range of sophisticated trade types tailored for experienced traders, including margin trading, futures, and trailing stop orders. This suite of advanced trading options makes OKX an ideal platform for seasoned traders looking to execute complex trading strategies and maximise their investment opportunities.

12. MEXC – Top Crypto Exchange for Spot Trading

Next on our list of best crypto exchanges in Australia is MEXC Global. The platform stands out as a reputable cryptocurrency platform renowned for its high liquidity and diverse range of intelligently crafted crypto products. Offering streamlined crypto trading and investment opportunities, MEXC extends its services to Australians, providing access to a vast selection of 1,807 assets at competitive rates. With a user base exceeding 10 million individuals spanning across 170 countries, the platform caters to a global audience.

Unique Features of MEXC

MEXC employs cutting-edge mega-transaction matching technology, ensuring rapid and efficient trading experiences. With the capability to handle up to 1.4 million transactions per second, the platform offers unparalleled speed and reliability. Among its notable features is the ‘MEXC Launchpad,’ enabling investors to participate in trading new cryptocurrencies directly.

In its commitment to safeguarding customers and their assets, MEXC implements a variety of robust security measures both at the organizational and user levels. These measures include standard KYC verification procedures to mitigate scams and money laundering activities. The platform adopts anti-phishing protocols to protect its servers against cyberattacks. It enforces two-factor authentication (2FA) via Google Authenticator or email verification for enhanced sign-in security.

It safeguards user funds by storing over $500 million worth of assets in cold storage. With a minimal deposit requirement of just $1, the platform ensures accessibility for investors of varying levels. Moreover, MEXC integrates peer-to-peer trading functionality, providing users with an alternative trading avenue.

Platform Overview

Why MEXC?

MEXC provides advanced charting tools and indicators, empowering users to conduct in-depth market analysis and technical assessments. Notably, tokens like Bitcoin, Ethereum, and Polkadot can be staked on the platform, offering attractive staking rewards of up to 10% APY.

The platform distinguishes itself as a premier exchange for Margin Trading, catering to traders seeking to amplify their trading potential by accessing additional capital. Margin trading involves borrowing funds from the exchange to facilitate transactions, enabling users to leverage their trading activities effectively.

The PUSH feature, or peer-to-peer (P2P) trading, enables direct trading between users, eliminating intermediaries and fostering a decentralised trading environment. This feature enhances transaction flexibility and security, reinforcing MEXC’s commitment to facilitating a seamless trading experience within the crypto ecosystem.

13. Kraken – Well-Established & Reliable Cryptocurrency Exchange

Kraken is a leading cryptocurrency exchange globally, providing Australians with a user-friendly platform for buying, selling, and exchanging digital assets. Boasting an intuitive user interface, extensive support for various cryptocurrencies, and a range of features catering to both novice and experienced investors, Kraken offers a seamless trading experience.

With a longstanding presence in the industry, Kraken has established itself as a reputable platform by prioritising user education, actively participating in shaping industry policies, and engaging in regulatory discussions. Registered as a Money Services Business (MSB) with FinCEN and as a Digital Currency Exchange (DCE) with AUSTRAC in Australia, Kraken adheres to stringent regulatory standards, ensuring the security and compliance of its operations.

Unique Features of Kraken

As one of the premier cryptocurrency exchanges in Australia, Kraken boasts a user base exceeding 10 million individuals. In a strategic move to expand its presence in the Australian market, Kraken acquired Bit Trade, a well-known Australian-based cryptocurrency exchange, in 2020.

Advanced traders can utilise features like stop loss, take profit, and limit orders to complement their investment strategies and mitigate risks effectively. The platform’s ability to stake and earn rewards on cryptocurrencies sets it apart from others, offering additional benefits to users. Moreover, Kraken’s competitive pricing makes it appealing to a wide range of traders, contributing to its recognition as one of the top performers in the Australian exchange market.

Platform Overview

Why Kraken?

Australian clients benefit from free and instant AUD deposits through local payment methods like PayID and Osko bank transfers. Kraken’s local operation in Australia and registration as a digital currency exchange with AUSTRAC ensure compliance with local regulations.

Investors can earn high annual yields by staking digital assets on Kraken, such as Cardano (ADA), which offers flexible annual staking options with returns ranging from 3% to 6%.

Notably, Kraken has maintained an impeccable security record, with no major security breaches to date. With 95% of user assets stored in cold storage, the platform prioritises the safety and security of its users’ funds.

Comparing The Best Crypto Exchanges in Australia

Our crypto experts created the table comparison below in order to help make it easier for you when it comes to deciding which Crypto exchange is best for you. The table compares each leading crypto exchange’s top features. This includes number of crypto assets available, payment methods, trading fees and the minimum deposit required.

How Do Cryptocurrency Exchanges Work?

Leading cryptocurrency exchanges in Australia provide access to the digital currency markets. Initially, users must create an account and, if dealing with a regulated provider, submit identification documents. Following this, individuals can engage in buying and selling various cryptocurrencies from the convenience of their homes.

When placing orders on a selected crypto exchange, users typically incur a commission fee. This serves as the primary revenue source for these exchanges. Depending on the platform, users may be matched with other market participants when entering or exiting positions. Therefore, selecting a crypto exchange with adequate liquidity is crucial.

Ultimately, to engage in cryptocurrency trading in Australia, individuals must have an account with a platform that aligns with their needs.

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Factors to Consider when Choosing the Best Exchanges

Now that you’re familiar with the basics and some of the best crypto exchanges in Australia. Let’s explore some of the key factors to consider before choosing your preferred exchange of choice.

Range of Tradable Cryptocurrencies

As mentioned in the comparison table featuring the top eight crypto exchanges in Australia, you may observe a significant difference in the variety of supported markets.it is always important to keep an eye on the range of cryptos the platform provides to enjoy a hassle-free trading journey.

Available Tools & Features

When searching for the best crypto exchange in Australia, it’s crucial to consider the range of tools and features available to you. This encompasses advanced trading tools such as technical indicators and short-selling options, as well as access to leverage and cryptocurrency-specific derivatives.

Robust Customer Service

It’s worth noting that your preferred exchange only provides support through email. It could result in a more tiring process for resolving account issues. Without the option for real-time interaction with an agent, getting assistance may be more challenging.

Evaluate the average response time for customer inquiries on different exchanges. A prompt response is essential, especially during times of high market volatility or when urgent assistance is needed.

Stringent Regulations

As previously emphasised, it is essential to select a crypto exchange that operates under adequate regulation. You may encounter numerous platforms lacking regulatory licenses despite potential benefits such as substantial leverage options, minimal fees, and enticing sign-up promotions. It is always advisable to steer clear of unlicensed crypto exchanges.

Also Read: Best Crypto Trading Platforms In Ireland

How to Sign up with a Crypto Exchange in Australia

Now let’s take a quick glimpse at the steps required to open an account and initiate a trade on eToro platform 

Step 1: Create a Crypto Account

To begin, you’ll need to create an account on eToro. You can sign up for a free account.Visit eToro’s website and click on the “Join Now” button. Provide your full name, email address, and create a password to complete the registration process.

Step 2: Account Verification

After registering, you’ll need to verify your eToro account. This typically involves submitting verification documents such as a valid ID (passport, driver’s license, or national ID) and proof of address. Follow the instructions provided by eToro to complete the verification process.

Step 3: Deposit Funds

Once your account is verified, you can proceed to deposit funds into your eToro account. Navigate to the “Deposit Funds” section, where you’ll find various deposit methods available, including credit/debit cards, bank transfers, and e-wallets. Choose your preferred deposit method, enter the deposit amount, and follow the prompts to complete the transaction.

Step 4: Trade Cryptocurrencies

After depositing funds, you can start trading cryptocurrencies on eToro. Navigate to the “Trade Markets” section and select “Crypto” from the list of available markets. Use the search bar to find the cryptocurrency you want to trade. Click on the cryptocurrency to view its details and price chart. Enter the amount you wish to invest and choose whether to buy (long) or sell (short). Finally, click on the “Open Trade” button to execute your trade.

Crypto assets are unregulated and highly speculative. Capital at risk.

Conclusion – Crypto Exchange Australia

In conclusion, in our guide on the best crypto exchanges in Australia, it’s paramount to understand that each trading journey is unique and that the preferred crypto exchange depends upon individual strategies. By considering the factors and exchanges mentioned in this guide, you can navigate the dynamic landscape of cryptocurrency trading with assurance and efficacy.