Cryptocurrency is on the rise in popularity all around the world, and Australia is no exception. There are a number of platforms where you can buy and sell cryptocurrencies, but which one is the best for Australians?
It is much easier to buy cryptos from crypto exchanges that accepts your local currency without the need for currency conversion.
In this article, you’ll learn more about the top 10 best exchangess to buy cryptocurrency in Australia without much hassle. Keep reading to find out the answer.
List of the Top 10 Best Platforms to Buy Cryptocurrency In Australia
List of the Top 10 Best Platforms to Buy Cryptocurrency In AustraliaCryptocurrency is a growing investment market with high potential, but it can be confusing to choose the right platform. Here are the top 10 platforms to buy cryptocurrency in Australia:
#1. Capital – Best Overall
Capital is more than just a crypto exchange. That’s what makes it so amazing. Capital allows you to trade crypto along with stocks, commodities and forex.
Capital charges a tight spread, which can vary depending on the asset. It is very small. The platform is fully functional and has a highly-rated mobile app. You can also practice trading with fake money (paper) in real-time.
Capital is licensed by both the Australian Securities and Investments Commission and the Financial Conduct Authority in the UK. This means that it is a secure, reliable crypto exchange that is regulated by trusted authorities.
Capital offers unparalleled customer support, with every user having a dedicated account manager that they can reach via email or phone.
Features
- Zero trading fees
- Tight spreads (0.1% – 0.3%)
- Supports 100+ cryptocurrencies
- Up to 500x leverage (200x on crypto)
- No fees for deposits or withdrawals of debit/credit cards, bank transfers, etc.
- You can reach any time
- Excellent desktop trading platform
- Highly rated mobile app (4.8/5 Apple, 4.6/5 Google)
Cost
- Trading fees: 0%
- Spreads: 0.1% – 0.3%
Best For
Investors who are looking for the best crypto experience and extremely low fees.
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#2. eToro – Best Overall
eToro has a global reputation. It offers a simple platform for desktop and mobile use, as well as some of the lowest fees and spreads in the industry.
CopyTrader is a new method of investing that has been one of eToro’s most innovative innovations in the past decade. It allows anyone to copy trades made by other investors in real-time.
This allows novice traders to trade smartly and timely based on other traders’ knowledge. eToro is an excellent platform for beginners and professionals alike.eToro offers new users a $100,000 paper trading account that you can use to trade without risk.
eToro supports all types of investments, including stocks, commodities, forex and other currencies.
Features
- Supports 50+ cryptocurrencies
- Tight spreads (around 0.1% – 0.3%)
- Allows short selling
- Maximum 30x leverage (up to 2x on crypto)
- No fees for deposits or withdrawals of debit/credit cards, bank transfers, etc.
- A great desktop trading platform and mobile application
Cost
- Trading fees: 1%
- Spreads: 0.1% – 0.3%
Best For
Passive investors that plan to purchase and hold for at least 90 days.
#3. Digital Surge – Best Variety Of Coins
Digital Surge, based in Brisbane, supports more than 250 cryptocurrencies and verifies accounts in hours. It also provides additional security through cold storage and Two Factor Authentication (2FA) for users.
Digital Surge’s trading charges range from 0.5% to 1.1% depending on the trading volume. Fiat deposits start at $2 each. You can also use stop-limit and stop-limit orders and dollar-cost averaging. This gives you more control when trading. Market orders are subject to a 0.5% fee.
Digital Surge offers a user-friendly desktop trading platform with an app for iOS and Android. Trustpilot has rated its customer service team highly. Support agents are available 24/7 via live chat on the Digital Surge website or within the app.
Digital Surge is a good option for buying and selling cryptocurrency in Australia. However, it lacks many of the key features of eToro or Capital, not least the ability to trade using leverage. Digital Surge is recommended only if you are unable to verify your identity with eToro or Capital.
Features
- A user-friendly trading interface
- Low trading charges (0.5% – 0.1%
- 250+ supported crypto assets
- 24/7 customer support via live chat
- Quick account verification
- Price notifications
Cost
- Trading fees: 0.5% to 0.1% (depending on trading volume)
- Instant Buy/Sell Order fees: 0.5%
- Deposit fees (PayID): Free
- Deposit fees (POLi): From $2 to $3.30
- Free Bank Withdrawals
- Crypto withdrawals : Standard network gas prices
Best For
Investors whose ID can not be verified by eToro or Capital
#4. Zipmex
Zipmex is a Brisbane-based company, is headquartered in Singapore. It operates mainly in South-East Asia. It is licensed in Australia and Thailand and has many interesting features. In a way it is similar to Capital because it offers many services and not just an exchange.
Zipmex’s crypto exchange charges are very competitive. They range from 0.2% to 0.1% depending on how many ZMT tokens you have. Withdrawing fiat and deposits are free, but network fees may apply.
Zipmex offers two unique staking platforms, ZipUp! ZipLock and ZipUp! Both offer crypto-based rewards. ZipUp! is a more flexible option that offers a decent APY rate and no lock-in period. ZipUp! might be right for you. ZipLock’s higher annual percentage is a good option if you don’t mind locking your crypto for as long as 45 days.
ZipLaunch, which is an ICO Launchpad feature, is another. This feature is extremely useful if your goal is to be early in promising DeFi projects and ICOs. Zipmex is highly rated and can be used on mobile devices by users; it has a rating rating of 4.3 on Google Play Store and 4.7 in the App Store.
Zipmex is not perfect. Zipmex’s limited coin offerings – only 41 cryptocurrencies – is one of its greatest flaws. This is not enough. Investors are also almost forced to purchase ZMT tokens in order to benefit from lower fees – crypto exchanges such as eToro or Capital don’t have these restrictions.
Features
- Available in Australia, Indonesia, Singapore, and Thailand
- The lowest trading fees in Australia (0.2% -0.1%)
- Insurance up to $100 Million USD
- App is available for Android and iOS
- Supports 41 cryptocurrencies
- Accepts USD, AUD, and SGD
- InstantTrading (0.2% Fee)
Cost
- Maker’s fees: From 0.20% up to 0.10% (based upon ZMT holdings).
- Takers’ Fees: Starting at 0.20% to 0.1% (based on ZMT holdings).
- Deposit Fees (Crypto): Free
- Withdrawal fees (Crypto), based on the crypto (0.0002 Bitcoin for Bitcoin).
- Deposit Fees (AUD): Free
- Withdrawal Fees (AUD): $5
#5. Independent Reserve
Independent Reserve is Australia’s largest cryptocurrency exchange. It has more than 200,000 active users and is registered with the Australian Digital Commerce Association.
Independent Reserve is unique because it offers full insurance. 100% of crypto assets are protected through its partnership with Lloyd’s of London. You can also access a wide range of investing strategies and apply them automatically through the AutoTrader feature. Institutions can also use the VIP Over-the Counter (OTC) trading services.
Independent Reserve’s mobile app is available for both iOS AND Android. It makes it easy to deposit AUD through Osko or the BPay network. It uses Two Factor authentication and a 97% cold store policy to ensure that everything is as secure as possible.
Independent Reserve’s greatest drawback is its fees. It is the reason we cannot rate Independent Reserve higher. Trading fees start at 0.6%, and there’s a spread of 0.41%.
They do offer discounts on fees, but they are tied to a tiered trading volume system. Capital, however, offers zero-fee trading right from the start. You don’t pay any fees to withdraw fiat currency or crypto. However, this is not enough to cover the high fees.
Features
- Supports 39 cryptocurrencies
- Fully insured by Lloyd’s of London
- A collection of strategies via AutoTrader
- 97% assets in cold storage
- No fiat withdrawals or deposits (AUD, USD NZD, SGD, etc.)
Cost
- Exchange Trading Fees: 0.6% (high volume discounts apply)
- Spreads: 0.41%
- Deposit Fees (Fiat): Free
- Withdrawal Fees (Fiat): Free
- Deposit Fees (Crypto): Free (network mining fees may apply)
- Withdrawal Fees (Crypto): Free (network mining fees may apply)
Best For
Investors seeking insured crypto exchange and compatibility with Australia’s banking system.
#6. Swyftx – Best For Staking
Swyftx was established in 2018 by Alex Harper and Angus Goldman. Swyftx was registered and regulated under the Australian Transaction Reports and Analysis Centre. It is both a cryptocurrency exchange and a staking platform.
Swyftx is able to support 16 cryptocurrencies including Cardano, Solana (SOL), Cosmos(ATOM), Polkadot and Polkadot. The interest rates that users can earn depend on which crypto they are staking.
Annual rates range from 5.12% on Bitcoin to 101.24% (Axie Infinity), and as high as 10.24% on Bitcoin. Swift’s staking platform has one thing that users love: there is no lock-up period. This means you can stake your assets and withdraw them at any time without penalty.
Daily Staking Rewards are paid directly into your Swyftx Trading wallet in the same currency you staked. There is no minimum stake amount, and there is no maximum.
Overall, Swyftx can be considered a solid staking platform. However, it is lacking some key features for a crypto exchange.
Features
- Select cryptos up to 23% annually interest
- Mobile and desktop
- Supports 16 cryptocurrencies
- Two-Factor Authentication
- TradingView charts
- Real-time data
Cost
- Trading Fees: 0.6% (high volume discounts apply)
- Spreads: 0.41%
- Staking Fees: Free
- Deposit Fees (Fiat): Free
- Withdrawal fees (Fiat): No Charge ($100k AUD maximum). )
- Deposit Fees (Crypto): Free (network mining fees may apply)
- Withdrawal Fees (Crypto): Free (network mining fees may apply)
Best For
Investors looking for crypto assets.
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#7. Binance
Binance, a cryptocurrency exchange that was launched in 2017, is the largest by trading volume in the world. It supports more than 300 cryptocurrencies including Bitcoin (BTC), Ethereum(ETH), PAX Gold [PAXG] and over 50 fiat currencies. Binance Coin (BNB) is its native token.
Binance’s native token doubles up as a utility token, and offers discounts on trading fees to holders. Trading fees vary depending on how many BNB tokens are held. They range from 0.1% to 0.4%. There is a 0.5% charge for instant trades and no fees for deposits, fiat or crypto.
Binance has many great features, including Binance Earn, which is a crypto staking platform and a Crypto Visa Card that can be used to make payments with crypto wherever Visa is accepted. Advanced charting tools are also available. You can also get special offers each month, and they reward you when you reach certain milestones like trading crypto or trading between pairs.
Features
- Largest range of supported cryptocurrencies (300+).
- Large range of fiat currencies is supported (50+).
- Binance Earn feature
- Binance Visa Card
- Advanced charting and tools
- Use the native cryptocurrency (Binance Coin), to get lower fees
Cost
- Crypto deposit fees: Free
- Fiat deposit fees: From 0% to 3.5%
- Crypto withdrawal charges: From 0% up to 2,5%
- Taker fees: From 0.04 to 0.1%
- Maker fees: From 0.02 to 0.1%
- Futures trading maker fees: 0.02%
- Futures trading taker fees: 0.04%
- Instant buy/sell trade fees: 0.5%
- Debit/credit card purchases: 4.5%
Best For
Foreign cryptocurrency investors who are interested in investing only in relatively obscure altcoins.
#8. LocalBitcoins
LocalBitcoins is a unique alternative to the other options on this list. Instead of trading with the wider market, you actually trade with individual traders. It has a loyal user base due to its ease-of-use and is one of the oldest cryptocurrency markets.
LocalBitcoins’ low entry barrier is the main reason I love it. It’s simple to verify your account and begin trading.
However, LocalBitcoins users need to be cautious as it is possible to be scammed by other users, particularly when you sell Bitcoin for cash. A buyer may pay you via PayPal, then file a PayPal dispute after they have received your Bitcoin.
This is a common scam. You can also pay using other payment methods, such as. Other payment methods (e.g., INTERAC etransfer, bank wire, and credit cards), may be safer, but be cautious. LocalBitcoins may make it sound too good to be true.
Features
- Simple to use
- It’s easy to get started trading
- Low transaction charges
- Deposit Canadian Dollars via bank transfer, Interrac e-transfer Moneygram, Wise and PayPal. ATM deposit and many more
- Helpful customer support
Cost
- Trading fees: 0.00006 BTC (~$4 CAD) flat fee per transaction
- Depositing funds: Free
- Withdrawing funds: Free
Best For
Investors who want to quickly buy and sell Bitcoin.
#9. CoinJar
CoinJar is based in Melbourne, but the company is looking to expand its operations into the UK. CoinJar’s fees are one of the reasons why you might choose to use it. There are no transaction fees for buying crypto, and there is no currency conversion fee.
You will need to pay a fee to list your crypto. It is based on the trading volume over the last 30 days. Discounts start when you trade more than $10k. Above $10 million, the fee remains at 0.04%.
This card makes it easy to access your crypto for daily purchases. It works with Mastercard everywhere and allows you to instantly exchange your crypto for fiat at the Point of Sale (POS).
There are over 10 bundles with diversified crypto that you can choose from, which is great for both beginners and experts. The DeFi Bundle and Stablecoin Bundles are some of the most popular bundles.
CoinJar, a well-established crypto trading platform with more than 9 years of industry experience, is an established one. It also offers a physical cryptocurrency debit card. It might be worth looking into CoinJar as a secondary cryptocurrency exchange.
When we compare fees, it falls a bit short of eToro. It also lacks basic features such as a safe testing environment, leverage and margin trading.
Features
- Supports 50+ cryptocurrencies
- No spreads
- Quick access to diversified CoinJar Crypto Bundles
- Customers can request their CoinJar CryptoDebit Card
- App is great for beginners, and it’s available on Android and iOS
- No fees for deposits or withdrawals of debit/credit cards or bank transfers.
Cost
- Currency Conversion (Fiat & Crypto): 1%
- Instant Buy: 2%
- Maker’s Fees : From 0.1% up to 0.04% (based upon volume)
- Taker’s Fees: Free
- Deposit Fees (Crypto): Free
- Withdrawal Fee (Crypto): 1%
- Deposit Fees (Fiat): Free
- Withdrawal Fee (Fiat): Free
Best For
Investors searching for crypto debit cards and access to crypto bundles.
#10. CoinSpot
CoinSpot, Australia’s largest cryptocurrency trading platform, has more than two million customers. It also holds a Blockchain Australia Certificate to demonstrate best practices. Both novice and experienced investors can access the desktop version easily. The mobile app is highly regarded for its intuitive design, ease of use and accessibility. It averages a score between 4.8/5 in the App Store and 3.9/5 on the Google Play Store.
CoinSpot was launched in 2013 and offers access to more than 360 cryptocurrencies. It is one of the largest cryptocurrency exchanges in Australia. CoinSpot isn’t limited to the supported crypto.
It offers many features that will appeal to all investors. You can start with a Multicoin Wallet, and you have many investment options such as diversified bundles for beginners and early access DeFi and NFT project access. It also offers OTC trading and an SMSF platform.
It works with all deposit methods in Australia, including PayID, Direct Deposit and Cash Deposit. In addition, it supports deposits on BlueShyft. It has very reasonable fees both for trading and for depositing/withdrawing crypto; even the Instant Buy/Sell fees (1%) are lower than the industry average.
CoinSpot is one of the top crypto exchanges in Australia. It has a high number of crypto and low fees. Also, it’s compatible with all payment options. Currently, however, eToro and Capital have a few steps ahead of CoinSpot with their Leveraged Trades and Demo accounts, which CoinSpot does not currently offer.
Features
- Supports 360+ cryptocurrencies
- Access to a Multicoin Wallet
- CoinSpot Bundles
- Supports PoLi and PayID as well as BPAY, BPAY, and Blueshyft deposits
Cost
- Market Orders: 0.1%
- Instant Buy/Sell: 1%
- Deposit Fees (Fiat): Free
- Withdrawal (Fiat),: No Charge
- Deposit Fees (Crypto): Free
- Withdrawal fees (Crypto),: It depends on the crypto (For Bitcoin, 0.003 BTC)
How to Buy Cryptocurrency In Australia
The exciting investment opportunity that cryptocurrencies offer is their potential to be used as a means of payment. They have been accepted gradually and are now accepted by more businesses as a means of payment.
People have begun to use them more often, thanks to Australia and other governments officially appraising the currency. Cryptocurrencies have the potential to change the financial landscape and partly remove financial control from governments and banks.
Looking to buy cryptocurrency in Australia? Check out our guide below.
We recommend CoinSpot & Swyftx as they’re so simple to sign up.
- Register to create an account with Swyftx or CoinSpot
- Enable two-factor authentication
- Confirm your identity
- Deposit funds into your new account
- Click on the “Trade” link
- Click on “Buy Coin” to search for your favorite crypto.
- Please enter the amount of crypto you wish to purchase
- View the details of the transaction
- Click “Buy”
Conclusion
There are a few platforms that offer good buying options for cryptocurrency in Australia. Some of the best platforms include CoinSpot, eToro, and Binance.
Each platform offers different features and buying options, so it’s important to research which one is right for you. If you’re new to cryptocurrency, we recommend starting with one of the beginner-friendly platforms like Swyftx.
About Author
- I’m a firm believer that information is the key to financial freedom. On Coindecimal Blog, I write about personal finance and crypto.
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