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This article will be reviewing the top 5 crypto exchanges in Australia.

Picking The Best Crypto Platform

The article will go through the fees, the coins available and what it’s like to use the platforms. Furthermore, an experiment was conducted where $100 worth of bitcoin was bought on each of these platforms at the same time. This was to see how much bitcoin we actually get with each platform and if they have any fees when we’re withdrawing bitcoin. The results of this experiment will be presented at the end of the article.

Best Crypto Exchange In Australia

1. Coinspot

Description: Established in 2013, Coinspot has become one of Australia’s most popular crypto exchanges. The platform boasts over 2.5 million customers and offers investors over 460 digital currencies to buy, sell and exchange. Coinspot platform is quite seamless and easy to navigate. 

Fees: Coinspot fees are very low. Coinspot charges a 0.1% fee for market orders and OTC orders. They charge a 1% fee for instant buy, swap or sell orders. Furthermore, Coinspot takes profit stop and limits orders and recurring buys. On the Coinspot platform its free to deposit or withdraw money using pay ID or direct deposits but there are fees for depositing using cash, card or Paypal. 

Referral: 🚀 CoinSpot buy crypto + get $10 free BTC:

2. Swyftx

Description: Swyftx is another very popular crypto exchange in Australia. Swyftx has a wide variety of crypto available on their platform with more than 350 coins. Compared to other crypto platforms available, Swyftx desktop and app is very easy to use. 

Fees: Swyftx charges low fees ranging from 0.1% to 0.6%. They also have no fees for deposits or withdrawals.

Referral: Swyftx buy crypto + get $20 free BTC:

3. Binance

Description:  Binance is one of the most popular crypto exchanges in the world with over 200 million users in over 180 countries.  Binance has a wide variety of crypto available with more than 500 coins. However, It’s much harder to buy and sell crypto with AUD on Binance than it used to be. 

Fees: Binance don’t charge any deposit fees, however they may charge withdrawal fees. They charge trading fees anywhere from 0.1% to 0.7% depending on how much crypto you’re trading.

⚠️ Please note: It’s much harder to buy and sell crypto on Binance with AUD lately. So be mindful!

4. Independent Reserve

Description: Established in 2013, Independent Reserve is a trusted Australian crypto exchange with top-tier security. The platform primarily serves Australian and New Zealand customers and is trusted by thousands of Self-Managed Super Funds. Furthermore, its platform is very easy to navigate. However, Independent Reserve has a limited choice of crypto available on their platform with around 28 coins. 

Fees: Independent Reserve don’t charge any fees for deposits or withdrawals. Their trading fees start from 0.02% to 0.5% depending on your trade volume.

Referral: 🚀 Independent Reserve buy crypto + get $10 free BTC:

5. Coinbase

Description: The final crypto exchange is Coinbase which is another very popular crypto exchange worldwide. Coinbase is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC). It has more than 247 coins available on its easy to use platform. 

Fees: Coinbase charges fees anywhere from 0.05% to 0.6% depending on your trade volume. Coinbase may also charge deposit and withdrawal fees from $10 for depositing money and $25 for withdrawing money. 

Referral: Coinbase buy crypto:

Experiment Results 

The crypto exchange that gave the most bitcoin was Independent Reserve followed by Swftx, Coinspot and Binance. 

Out of each of these platforms I found Swiftx and Coinspot the easiest to use even though the Independent Reserve gave us the most Bitcoin. 

With Swiftx and Coinspot it was easier to to find transaction history and how much Bitcoin I had actually received. 

The exchange that was the most difficult to use was Binance. In order to buy Bitcoin, I had to go to an external platform and get all of my documents verified by them before buying bitcoin. This is despite already having a Binance account. There was also no way to easily deposit money into my Binance account so I could instantly buy Bitcoin. Instead I had to go through an external platform in order to purchase Bitcoin.

Disclaimer

This article is general in nature and doesn’t constitute personal financial advice. Crypto is highly speculative and risky. It’s important to note that none of these crypto exchanges ensures that your crypto is 100% secure.

As we’ve seen, one of the biggest crypto exchanges, FTX collapsed, and so did many others. And even some of the crypto exchanges that are operating still get hacked from time to time, and that’s why it’s recommended to have a cold storage wallet if you’re concerned with security.

I have a ledger and I’ve found it quite easy to use. And whenever I buy crypto, I transfer it to my wallet just to make sure it’s safe. If you’re interested in getting a Ledger for yourself, this is my referral link.

How to buy crypto in Australia?

The best way to buy crypto in Australia is through crypto exchanges like Coinspot, Swftx, Binance, Independent Reserve and Coinbase. These exchanges are registered with AUSTRAC, offer low fees, are highly regulated and offer strong security. 

What are the best crypto exchange platforms in Australia? 

Coinspot, Swftx, Binance, Independent Reserve and Coinbase are some of the best crypto exchange platforms. They are industry leaders, offer low fees, tight security, diverse coins and are user-friendly. Choosing a crypto exchange platform is personal, so make sure you do research to see which platform best suits your needs. 

How do I know if a crypto exchange is safe?

The crypto exchange has to be registered by AUSTRAC, have an excellent security history, have two factor authentication and offer customers cold storage. 

How do I keep my crypto safe?

It’s  recommended to have a cold storage wallet if you’re concerned with security. A ledger is very easy to use.Whenever you buy crypto, you should transfer it to your wallet just to make sure it’s safe.

Which crypto exchange has the lowest fees

I conducted an experiment in which I deposited $100 into crypto exchanges. Independent Reserve followed by Swftx, Coinspot and Binance gave me the most bitcoin.