The 11 Best Crypto Exchanges in Australia (Expert Verified)
Expert verified
7 min read
The 11 Best Crypto Exchanges in Australia (Expert Verified)
Written by:
Miles Brooks
Reviewed by:
David Kemmerer
Our Editorial Standards:
Our content is designed to educate the 500,000+ crypto investors who use the CoinLedger platform. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn More
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Looking for the best crypto exchanges in Australia? In this guide, we’ll break down everything about the best exchanges for you based on factors like ease of use, fee structure, and customer support!
Exchange
Fees
Cryptocurrency
CoinLedger Rating
OKX
0.02% to 0.5%
160+
9.6/10
CoinSpot
0.1% on spot trading
440+
9.6/10
Swyftx
0.1% - 0.6% depending on trading volume
320+
9.4/10
Kraken
0 - 0.26% fees on Kraken Pro
200+
9.3/10
Pionex
0.05% on spot trading
120+
9.1/10
Coinbase Australia
0 - 1% on Coinbase Advanced (however, fees can be higher depending on multiple factors — including market conditions)
120+
9.6/10
CoinJar
1% on most transactions, 2% on instant buys
60+
9.2/10
ByBit
0.01% spot trading fees
330+
8.9/10
eToro Australia
1% fees
Less than 100 cryptocurrencies (plus access to stocks!)
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world. As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, and Olympian Scotty James, OKX aims to supercharge the fan experience with new engagement opportunities.
Fees:
0.02% to 0.5%
Cryptocurrency selection:
160+
CoinLedger Rating:
9.6/10
Pros & Cons
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
Supports a host of advanced trading features — including derivative trading for verified wholesale clients!
Founded in 2013, CoinSpot is one of the oldest and most established exchanges based in Australia. Today, the platform supports more than 2.5 million users and more than 440 cryptocurrencies.
Fees:
0.1% on spot trading
Cryptocurrency selection:
Cryptocurrency selection: 440+
CoinLedger Rating:
9.6/10
Pros & Cons
User-friendly: CoinSpot is user-friendly and a great choice for beginner investors!
24/7 Support: CoinSpot offers 24/7 live chat support.
Regulatory Compliance: CoinSpot is one of the best exchanges when it comes to regulatory compliance and security — it was the first exchange to receive the ISO 2701 certification.
Low Fees: CoinSpot offers low fees of just 0.1%.
Advanced Trading Options: Advanced trading options for experienced traders are lacking — no margin and derivative trades.
Founded in 2018, Swyftx is another exchange focused on the Australian market. Today, the platform supports more than 370 cryptocurrencies and 660,000 users.
Fees:
0.1% - 0.6% depending on trading volume
Cryptocurrency selection:
320+
CoinLedger Rating:
9.4/10
Pros & Cons
Swyftx is an intuitive and user-friendly platform for beginner investors!
Swyftx offers 24/7 live support.
Swyftx is registered with AUSTRAC and complies with KYC regulations.
Swyftx offers staking rewards for dozens of cryptocurrencies!
Relatively high fees compared to some competitors — fees can be as high as 0.6%
Swyftx does not support advanced trades such as margin and derivative trades.
Swyftx does not support Earn and Staking options that allow users to earn interest on crypto.
Kraken is an American-based exchange that serves investors all over the world. The exchange is known to be a fantastic option for experienced investors due to its low fees and its support for advanced transaction types.
Fees:
0 - 0.26% fees on Kraken Pro
Cryptocurrency selection:
200+
CoinLedger Rating:
9.3/10
Pros & Cons
Kraken offers 24/7 customer service — including phone support!
Kraken does offer relatively low fees (as low as 0.02% on Kraken Pro)!
Kraken offers support for advanced trades — such as derivative and margin trades.
Because Kraken is a US-based exchange, most of the trading pairs offered are with USD. There are a limited number of cryptocurrencies you can trade against AUD.
Coinbase Australia is the Australian version of Coinbase — one of the world’s biggest and most respected exchanges. The platform offers more than 250 different cryptocurrencies!
Fees:
0 - 1% on Coinbase Advanced
Cryptocurrencies supported:
120+
CoinLedger Rating:
9.6/10
Pros & Cons
Coinbase is designed to be beginner-friendly with a simple and easy-to-understand interface.
Coinbase’s Learn and Earn program allows you to earn cryptocurrency after watching short modules designed to help you better understand the crypto ecosystem.
Coinbase is one of the world’s most trusted exchanges.
Coinbase has been criticized for inadequate customer support.
Coinbase has relatively higher fees than other exchanges. ‘Instant purchases’ come with fees up to 4%.
Coinbase does not offer support for advanced transaction types — such as margin and derivative trading.
CoinJar is an Australian-based exchange originally founded in 2013. Today, CoinJar serves investors all around the world — including the UK and USA.
Fees:
1% on most transactions
Cryptocurrency selection:
60+
CoinLedger Rating:
9.2/10
Pros & Cons
CoinJar has a beginner-friendly interface that makes it a great choice for new investors!
CoinJar’s spot market offers some of the lowest fees on the market — with fees ranging from 0-0.06%.
CoinJar has industry-leading security — using multi-level encryption to keep customer funds safe. In addition, the exchange has assets to cover 100% of customer balances.
CoinJar has higher fees on the standard version of its platform — ranging from 1-2%.
CoinJar supports fewer cryptocurrencies than competitors, with just 60+ cryptocurrencies available.
ByBit was originally founded in 2018 — and now serves more than 2 million users worldwide. The platform is known for allowing users to trade with margin up to 100x!
Fees:
0.01% spot trading fees
Cryptocurrency selection:
330+
CoinLedger Rating:
8.9/10
Pros & Cons
ByBit offers advanced trading features — such as margin trades with 100x leverage.
ByBit supports more than 330 cryptocurrencies.
ByBit offers fees as low as 0.1%
ByBit has been criticized for slow customer support.
ByBit may not be the best option if you are not confident with using advanced trade instruments. Remember, margin trades can be risky.
You cannot deposit or withdraw fiat currency from ByBit — only cryptocurrency can be deposited/withdrawn.
Unlike the other exchanges on this list, eToro Australia offers access to stocks and cryptocurrencies. In addition, eToro Australia bills itself as a ‘social trading platform’ — giving you access to a community of successful stock & crypto investors.
Fees:
1% fees
Cryptocurrency selection:
Less than 100 cryptocurrencies
CoinLedger Rating:
9.2/10
Pros & Cons
eToro Australia offers access to cryptocurrencies and stocks!
eToro Australia includes social media features— including the ability to see and copy the transactions from the platform’s most successful traders!
$0 fees for Australian stocks
eToro Australia has been criticized for charging certain fees — such as currency conversion fees for buying U.S. stocks and a monthly inactivity fee if you’ve made no trades in the past 12 months.
eToro Australia has a limited cryptocurrency selection compared to other exchanges. eToro Australia offers less than 100 cryptocurrencies.
Crypto.com is a Singapore-based exchange with more than 80 million users worldwide. The platform is famous for offering extremely generous rewards for debit card users — with rewards up to 5%!
Fees:
0.075% trading fees
Cryptocurrency selection:
300+
CoinLedger Rating:
9.0/10
Pros & Cons
Crypto.com’s mobile app features an easy-to-use interface for beginners.
Crypto.com offers access to more than 300 cryptocurrencies.
Crypto.com allows you to earn interest on select cryptocurrencies within the platform!
Crypto.com’s Visa card allows you to earn cashback rewards up to 5% (rewards vary depending on how much CRO you are staking on Crypto.com).
Crypto.com has faced criticism for lacking customer service.
While Crypto.com offers low fees, many customers have criticized Crypto.com for having large ‘spreads’ on trades.
Founded in 2013, Independent Reserve is one of the biggest cryptocurrency exchanges in Australia. Independent Reserve is designed for high-net worth investors — with features such as an OTC-trading desk that allows for discounts on large-volume orders and a Tax Estimator to help you better understand the tax obligations of your transactions.
Fees:
0.02%-0.5%
Cryptocurrency selection:
15+
CoinLedger Rating:
8.8/10
Pros & Cons
Independent Reserve offers low transaction fees that range between 0.1%-0.5%.
Independent Reserve allows you to invest cryptocurrency through a self-managed superfund (SMSF).
Independent Reserve puts its assets in cold storage to protect customer funds.
Compared to other exchanges, Independent Reserve offers a limited range of cryptocurrencies. The exchange currently offers access to 15+ cryptocurrencies.
Independent Reserve has a difficult UI for beginner investors.
What about Binance?
While Binance Australia was previously listed in this guide, we removed the exchange due to issues with regulators. In 2023, Binance halted AUD transfers via bank and stopped offering support for many AUD trading pairs after Binance’s banking partner decided to cut off support for the exchange.
How to choose an exchange
Here are a few factors that you should consider when choosing an exchange.
Ease of use
If you’re a beginning investor, getting started with cryptocurrency trading can feel overwhelming. That’s why it’s important to choose an exchange with an easy-to-use interface!
Cryptocurrencies supported
If you wish to build a robust cryptocurrency portfolio, you’ll likely want to choose an exchange that offers hundreds of different coins. However, if you’re only planning to invest in a handful of cryptocurrencies, you can choose an exchange that supports a limited number of coins.
Fees
Depending on your activity, exchange fees can become very expensive! In addition to trading fees, many exchanges charge deposit, withdrawal, and credit/debit card fees.
Customer support
Often, investors will run into issues with their cryptocurrency exchanges — such as difficulties withdrawing/depositing cryptocurrency. Exchanges with robust customer support can provide quick help in situations like these!
Security
In recent years, cryptocurrency investors have lost millions due to hacks and exchange bankruptcies. Before you choose an exchange, take a look to see if the platform takes measures to keep your assets safe — such as two-factor authentication and third-party security audits.
How to sign up for an exchange account in Australia
Opening a cryptocurrency exchange account in Australia is similar to opening an account with a stock brokerage. Usually, the process can be completed in a few minutes (though it may take a few days to verify your identity!)
Create Your Account: To get started with an exchange account, you’ll need to provide an email address and set a password for your new account.
Provide Personal Information: Before you start trading cryptocurrencies, you’ll need to provide Know Your Customer information. This typically means providing information like your full name as well as a government-issued photo ID.
Fund Your Account: Once your identity is verified, you can fund your account to start making purchases. Most exchanges allow users to fund your account through bank transfer, wire transfer, or transferring in cryptocurrencies from other platforms.
How do I report taxes on my Australian crypto transactions?
Because of cryptocurrency’s unique properties, many exchanges have trouble providing accurate tax forms — especially if you’ve transferred crypto into or out of your exchange. In this case, the exchange may have trouble reporting your capital gains and losses.
Luckily, there’s an easier way to report your crypto taxes in Australia. Crypto tax software like CoinLedger can connect to your wallets and exchanges and generate a comprehensive tax report in minutes.
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out.
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