According to a Statista survey conducted from 2019 to 2022, one in four Australians own cryptocurrency. Currently, CoinFactiva analytics indicate that 60% of Australians use a hot wallet. The cryptocurrency market is projected to grow at a compound annual growth rate of 56.4% from 2019 to 2025, with crypto ownership in Australia standing at 2.67%.
Chainalysis ranks Australia 40th globally for crypto adoption. This underscores the significant demand for cryptocurrency among Australian investors, resulting in a proliferation of crypto trading platforms in the country.
So, how do you identify the best crypto exchange that is legitimate and suitable for your needs in Australia?
In this comprehensive guide to the top crypto exchanges in Australia, we’ll evaluate the leading platforms based on various criteria such as regulatory status, fee structure, and customer support. Whether you’re a novice or experienced trader, this article aims to help you discover the most appropriate crypto exchanges in Australia for 2024 that align with your specific requirements.
Choosing the right cryptocurrency exchange is paramount as you begin your journey into the world of digital assets. Below is our curated selection of the finest cryptocurrency exchanges in Australia, tailored to meet your individual crypto requirements.
Here are the top 10 cryptocurrency exchanges in Australia.
- eToro – Renowned for its innovative copy trading tools, eToro stands out as the premier cryptocurrency exchange in Australia.
- Bybit – Offering up to $30,000 in deposit rewards, Bybit is a top choice for Australian traders.
- Kraken – With competitive fees and a promising outlook, Kraken is an excellent option for cryptocurrency trading in Australia.
- Binance – Serving users worldwide, Binance is the largest and most feature-rich cryptocurrency exchange catering to the Australian market.
- KuCoin – Known for its automated trading features, KuCoin is a popular choice among Australian traders.
- MEXC – Offering a 0% spot trading fee, 200x leverage, and a wide selection of over 1,600 cryptocurrencies, MEXC is a leading exchange in Australia.
- Prime XBT – Recognized for its high leverage and low fees, Prime XBT is a preferred platform for cryptocurrency trading.
- Pionex – Renowned for its auto-trading bots, Pionex provides access to 16 free built-in bots and charges a minimal trading fee of 0.05%.
- CoinSpot – Regarded as the most trusted cryptocurrency exchange in Australia, CoinSpot offers a wide range of digital assets for trading.
- Crypto.com – Known for its rewarding perks, Crypto.com is a popular cryptocurrency trading platform in Australia.
eToro: Australia’s Premier Cryptocurrency Exchange
eToro stands out as the top choice for cryptocurrency exchange in Australia, offering watchlists with real-time insights, customized risk management, staking services, advanced analysis tools, and innovative copy trading features.
Unlike many others on the list, eToro, regulated by ASIC, provides access not only to a diverse range of cryptocurrencies but also to forex, stocks, and ETFs, rendering it a comprehensive platform.
Furthermore, this innovative social trading platform grants access to a community of successful investors, enabling users to replicate and discuss strategies. Additionally, users can utilize its demo account with AUD 100,000 to hone their trading skills.
Traders will find eToro’s options for depositing AUD both straightforward and cost-effective. Regarding its fee structure, the platform distinguishes itself with competitive variable trading fees based on the spread, and notably, it does not impose any commissions on initial trades.
Bybit: Earning up to $30,000 in Deposit Rewards
Bybit stands as another favored cryptocurrency exchange in Australia, providing users with the opportunity to trade, lend, and earn a diverse range of cryptocurrencies. Additionally, users can explore its NFT marketplace, launchpad, and Bybit Card. Bybit boasts one of the most generous bonus schemes among cryptocurrency exchanges, offering up to $30,000 in rewards.
Bybit has established itself as a prominent player in derivatives trading by offering users the ability to trade with leverage of up to 100x. Moreover, Bybit users can engage in copy-trading with other platform users and generate passive income through flexible savings programs, liquidity provision opportunities, dual-asset investment options, and innovative financial products like Shark Fin.
For user convenience, Bybit facilitates AUD deposits via credit/debit cards, and prioritizes security by implementing features such as Triple-Layer Asset Protection. The platform also boasts competitive fees that can go as low as 0.1%. Furthermore, Bybit caters to users with substantial trading volumes through its VIP Program, which grants exclusive rate advantages and access to special events and promotional activities.
Kraken: A Promising Cryptocurrency Exchange in Australia Offering Competitive Fees
Kraken emerges as a promising option among cryptocurrency exchanges in Australia, providing low fees, narrow spreads, swift deposits, up to 5x leverage, opportunities for crypto staking, and robust security measures.
Professional traders have the option to utilize Kraken Pro, which offers a variety of trading orders including stop-loss, market, and limit orders, all seamlessly integrated with TradingView charts. In terms of fees, they are volume-based, meaning that higher trading volumes qualify for discounts.
This exchange caters to a diverse global clientele, features a low minimum deposit requirement of $10, includes an NFT marketplace and an education hub, and accepts multiple AUD-friendly payment methods such as Bank Transfers, PayID, Osko, and RTGS.
Binance: The Largest and Most Feature-Rich Cryptocurrency Exchange Serving Australian Users
Binance, a widely recognized cryptocurrency exchange, provides spot, margin, and peer-to-peer trading options along with a plethora of advanced tools.
Binance offers an extensive range of cryptocurrency assets and trading pairs. Users have the flexibility to personalize their trading interface by incorporating multiple charts, indicators, and data feeds. Additionally, the platform provides trading bots equipped with preset strategies for dollar-cost averaging (DCA), grid trading, rebalancing, and time-weighted average price (TWAP).
Moreover, this comprehensive cryptocurrency trading platform offers various features including spot trading, an NFT marketplace, Launchpad, mining pools, staking, BNB Chain, and a wealth of educational content.
KuCoin: Renowned Automated Cryptocurrency Trading Platform in Australia
KuCoin is celebrated for its extensive range of cryptocurrencies and comparatively modest fees, making it one of the most utilized cryptocurrency exchanges not only in Australia but worldwide.
In addition to standard spot trading, this exchange extends its services to include futures and margin trading, as well as a peer-to-peer marketplace. The platform enhances its offerings with features such as crypto lending and borrowing, an NFT marketplace, and opportunities for staking cryptocurrencies.
Furthermore, the cryptocurrency exchange provides multiple complimentary trading bots and maintains a competitive trading fee of 0.1%.
MEXC: Premier Exchange Featuring 0% Spot Trading Fee, 200x Leverage, and 1,600+ Cryptocurrencies
MEXC stands as a prominent cryptocurrency exchange in Australia, providing robust security measures, a user-friendly interface, and an extensive array of over 1,600 cryptocurrencies. Since its inception in 2018, MEXC has witnessed global expansion across more than 170 countries and has garnered over 10 million users.
The platform boasts high leverage futures of up to 200x, along with other margin trading options suitable for both beginners and experienced traders, as well as an exclusive copy trading feature.
MEXC offers competitive fees, with a 0% fee on spot trading and low fees on futures trading, including a 0.02% taker fee rate. Moreover, the platform ensures fast transaction execution, processing up to 1.4 million transactions per second. MEXC also provides advanced charting tools and numerous indicators for thorough market analysis.
Additionally, MEXC offers attractive Annual Percentage Yields (APYs) on staking, with flexible lock-up options that enhance liquidity for account holders’ deposits. It’s worth noting that MEXC’s native token, ‘MX,’ grants holders certain governance rights, such as voting on business decisions, trading fee discounts, and access to free airdrops.
Prime XBT: Emerging Cryptocurrency Exchange Offering High Leverage and Competitive Fees
PrimeXBT is a promising cryptocurrency exchange serving a user base of over 1 million individuals across 150 countries. The platform offers a variety of trading options, including crypto futures, copy trading, global market trades, and the distinctive PrimeXBT Turbo feature.
One notable feature is the leverage, which can reach up to 1:200, enabling traders to significantly increase their trade size. While this presents opportunities for higher profits, it’s essential to bear in mind that it also amplifies risk.
PrimeXBT is also distinguished for its competitive pricing. Crypto futures trades incur a 0.01% fee for makers and 0.02% for takers. A flat rate of 0.05% applies to global markets and copy trading. The platform does not charge deposit fees, although withdrawal fees may vary based on the cryptocurrency and network.
Additionally, the platform employs advanced cybersecurity protocols, such as two-factor authentication, cold storage utilizing multi-signature technology, Bitcoin address whitelisting, and hardware security modules. These measures collectively offer robust protection against potential threats.
Traders have access to more than 50 markets, encompassing both cryptocurrencies and traditional markets. Deposit options are versatile, encompassing fiat, cash, and third-party services. However, direct bank card deposits are not supported.
Pionex: Renowned for Automated Trading Bots, Providing 16 Free Built-in Bots and a 0.05% Trading Fee
Pionex emerges as a favored cryptocurrency exchange in Australia recognized for its automated trading bots. The platform offers 16 free built-in trading bots, such as ‘AIgrid-Binance Grid Trading Bot’ and ‘BTC/ETH Moon,’ leveraging artificial intelligence to enhance trading strategies.
The platform has emerged as a top choice for traders seeking automated solutions in Australia. Pionex boasts a user base of over 100,000 customers from across 100 countries. Additionally, it provides a demo account for trading virtual funds, enabling new investors to engage in risk-free trading.
Pionex manages a monthly volume of billions of dollars, facilitating over 100 million trades daily on average. With one of the most cost-effective fee structures in the industry at 0.05%, it supports trading for nearly 400 cryptocurrencies.
Customers have the opportunity to stake Bitcoin and various other cryptocurrencies to earn Annual Percentage Yields (APYs) from their idle investments. Furthermore, they can earn up to 50% commissions on new referrals through the platform’s rebate policy. Recently, Pionex launched PionexGPT, empowering customers to create trading strategies using artificial intelligence.
CoinSpot: Australia’s Most Reliable Cryptocurrency Exchange
CoinSpot stands out as the most trusted cryptocurrency exchange in Australia, offering instant buy and sell options, round-the-clock live chat support, and local assistance. These features, coupled with its Blockchain Australia Certification, position it as one of the premier choices in the market.
Established in 2013, CoinSpot ranks among the most longstanding exchanges operating in Australia, boasting support for hundreds of cryptocurrencies. This Australia-based platform features a user-friendly interface and offers a swift and seamless purchasing experience. Moreover, it facilitates a wide array of payment options, including POLi payments, Bank Transfers, Credit/Debit Cards, BPAY, Osko, and PayID, ensuring convenient access to its services for users.
CoinSpot also distinguishes itself with unique offerings such as a crypto card, NFTs, and Bundles. Furthermore, its market order fee rate of 0.1% enhances its appeal to users.
Crypto.com: The Premier Crypto Trading Platform in Australia Offering Lucrative Benefits
Crypto.com is a regulatory-compliant trading platform renowned for its array of features including recurring buys, staking, insurance coverage, DeFi Wallet, and a Visa card. This platform, characterized by its simplicity and comprehensive features, enables users to effortlessly buy and sell numerous cryptocurrencies while also earning rewards on various coins.
Renowned for its enticing rewards for debit card users, this Singapore-based cryptocurrency exchange offers Visa debit cards at no cost to eligible users who stake the required minimum of CRO tokens. These cards, compatible with AUD, operate similarly to standard debit cards and are accepted at all Visa-accepting outlets. Moreover, cardholders are entitled to cashback on all card transactions. Additional perks encompass complimentary access to airport lounges and rebates on services such as Netflix and Spotify.
