Compare top 7 best crypto exchanges & apps in Australia for 2024

Our panel of crypto analysts, experts, and traders periodically test 50+ leading exchange services in order to find the best crypto exchange app in Australia.
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Updated: May 8, 2024
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Trade your favourite markets with our top-rated broker, Plus500.

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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To create this list our expert panel performs a series of tests to identify the strengths and weaknesses of the best cryptocurrency exchanges. The tests include creating an account, placing trades, and transferring money to a secure crypto wallet.

We then research the specific needs of Australian users, such as which payment methods are available, which currencies you can deposit, and the trading fees in Australia.

Each expert assigns a score, which is combined with the results of further research to create a final ranking of crypto services in order to answer the question: what are the best crypto exchanges in Australia for Australian users? 

Learn more about our panel and how we rate and review platforms. Or read on to find out what is the best Australia crypto exchange.

What is the best crypto exchange Australia in 2024?

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Our expert rankings reveal that Plus500 is the best cryptocurrency exchange in Australia.

The list below shows the three best Australia crypto apps & exchanges that excelled in our tests, by combining low transaction fees, high security, and ease of use.

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1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
$ 50
Best offer
User Score
9.9
Buy $100 worth of crypto and get a $10 bonus!
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options
Start Trading
Payment Methods:
Credit Card, Debit Card, PayPal, UnionPay, WebMoney, Wire Transfer, Yandex, neteller, skrill
Full Regulations:
ASIC, CySEC, FCA

Cryptoassets are unregulated & highly speculative. No consumer protection. Capital at risk. See PDS and TMD.

3
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade the world’s largest Crypto derivatives offering. Choose from 250+ Crypto CFDs
Multiple funding and swift withdrawal options. Choose from PayPal and more
Ultra-low spreads across all Crypto derivatives
Start Trading
Payment Methods:
Credit Card, Cryptocurrencies, PayPal, Wire Transfer, neteller, skrill
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

Top 7 best Australian crypto exchanges & apps, reviewed

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1. Plus500. Best for international CFD trading*

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From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

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1%

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Highlights

Visit eToro eToro Review

Cryptoassets are unregulated & highly speculative. No consumer protection. Capital at risk. See PDS and TMD.

3. Eightcap. Best online broker for choice of trading platform

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Up to $3.5 RT

Fees

$100

Minimum deposit

800

No. assets

Yes

Demo/virtual account

Pros & Cons

Low trading fees for CFDs Trade directly from the TradingView platform Regulated by top-tier authorities Leverage up to 1:500 Partnered with multiple proprietary trading firms
Some markets are not available to all regions Customer support does not operate 24/7

Overview

We love Eightcap because you have several trading platforms to choose from. You can choose between MetaTrader 4, MetaTrader 5, and TradingView. All of these platforms are favourites among retail traders. With the MetaTrade suite of platforms, you can access lots of technical indicators, custom tools, and expert advisors. 

TradingView with Eightcap allows you to trade directly from your charts while accessing the hundreds of tools and features available. Eightcap a selection of over 200 crypto CFDs so there’s an excellent range to choose from. You can trade the biggest coins like BTC/USD and many altcoins like DOGE/USD.  

The fees: Eightcap is a CFD broker and charges spread, commissions, or a combination of both. There are two account types available, RAW, and Standard. The RAW account has ultra-low spreads starting from 0.0 pips but charges $3.5 RT per lot. The standard account is commission-free for most assets and spreads start from 1 pip.

Highlights

Visit Eightcap Eightcap Review
74-89% of retail CFD accounts lose money

4. Bybit: Best crypto exchange for derivatives & margin trading

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bybit_logo

...

Fees

...

Minimum deposit

20

No. assets

No

Demo/virtual account

Overview

We love Bybit because it offers a range of advanced trading tools and competitive rates on crypto derivatives. It’s a rapidly growing crypto exchange, perfect for experienced traders looking for leveraged trading opportunities.

Boasting a wide range of crypto products, from buying and selling to staking and borrowing, Bybit is at the forefront of the next generation of crypto services, shaking up the traditional financial system and offering different ways to put your crypto to good use.

Bybit is primarily designed for more advanced traders, with integrated charts from TradingView that allow for extensive technical analysis across 100+ indicators. It’s highly secure, too, with regulatory approval in Europe and the Middle East, and it offers a comprehensive service to users around the world (except the US).

The fees: Fees are charged through a maker and taker system, so that there are cheaper fees to those who provide liquidity. ByBit’s fees start from 0.020% for makers and 0.055% for takers, which are highly competitive and match them up to any of the big players in the exchange game.

Highlights

Visit Bybit Bybit Review

5. Binance. Best crypto platform for trading altcoins

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0.1%

Fees

...

Minimum deposit

400

No. assets

Yes

Demo/virtual account

Pros & Cons

Supports the trading and storage of over 360 coins Offers multiple trading pairs (BTC, ETH, BNB, and USDT) High maximum daily withdrawal limit Available globally Low trading fees, particularly when using BNB (Binance Coin)
Occasionally slow customer support Centralised, rather than decentralised

Overview

We love Binance because it’s the largest crypto platform in the world. More than 30 million people use Binance to trade 400+ cryptocurrencies. Binance also offers a range of other services, such as staking, crypto loans, and derivatives markets such as futures and options.

The Binance app is designed to appeal to everyone, regardless of your experience. The ‘Lite’ version slims everything down to the basics, while the regular app is one of the most advanced crypto trading platforms out there. 

The fees: There are no fees for trading Bitcoin. All other cryptocurrency spot trades come with a 0.1% fee. If you own Binance coin (BNB), you receive a 25% discount on all trading fees. Binance does not charge deposit fees but withdrawal fees are variable depending on the crypto.

Highlights

Visit Binance Binance Review

6. Admirals. Best for real time news and price data

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Admirals_logo

From $0.02 per share

Fees

$100,000

Minimum deposit

8,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Multi-asset and globally regulated broker Access a 30 day risk-free demo account Advanced trading and charting tools World class trading software, with MT4, MT5 & MetaTrader Supreme Edition available Lots of educational resources, including webinars and seminars Access real-time market data and news Competitive, low spreads
Not available to US traders No fixed spreads

Overview

We love Admirals because you can invest in more than 8,000 assets with as little as €1. Thousands of stocks, hundreds of ETFs, leading forex pairs, and major commodities mean Admirals is a great investment platform where you can create a diversified portfolio.

There’s a demo account available so you can try out the Admirals platform and a vast amount of information can be accessed for free. That includes a host of real time news and research, as well as the latest price charts.

The fees: Fees depend on your account type, but commissions start from $0.02 for stock and ETF CFDs. Forex and commodity commissions start from $1.80. Spreads are from 0.5 on the standard platform.

Highlights

Visit Admirals Admirals Review

Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come  with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money  when trading CFDs with this provider. You should consider whether you understand how CFDs work and  whether you can afford to take the high risk of losing your money. 

7. Bitstamp. Best for professionals & trading with APIs

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...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether

Overview

We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand. 

Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.

The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.

Highlights

Visit Bitstamp Bitstamp Review

Top cryptocurrency apps in Australia for your needs

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Crypto exchanges & apps can perform a range of different functions. Often, the right app depends on exactly what you want to do with it, whether that’s buying, trading, storing or spending cryptocurrency.

We’ve broken the top crypto apps in Australia down into the best apps for each function They all combine low fees and a strong reputation with a user-friendly interface and industry-leading security.  

Top exchange app for buying and selling cryptocurrency in Australia

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If you want to get coins like Bitcoin and hold them as an investment, then consider signing up to one of the top crypto exchange apps in Australia in the table below. Our team has tested and verified each of them so you know they are good platforms.

1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Top Australian crypto app for trading cryptocurrency

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For trading cryptocurrencies, you need a reliable crypto trading app that will allow you to open and close trades quickly, in order to take advantage of price changes. Choose an app from the table below; it takes minutes to sign up and you’ll be able to trade instantly.

1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Top Australian crypto wallet apps for storing cryptocurrency

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To store your crypto tokens securely, you might want to consider getting a personal wallet. These can enhance your security, and some now even have integrated exchanges so you can quickly swap between currencies. If this is what you want to do, we believe the below options are robust choices. 

1
Min. Deposit
$ 50
Best offer
User Score
10
Award-winning trading platform
11 payment methods, including PayPal
FCA & Cysec regulated
Start Trading
Payment Methods:
Credit Card, Debit Card, PayPal, UnionPay, WebMoney, Wire Transfer, Yandex, neteller, skrill
Full Regulations:
ASIC, CySEC, FCA

51% of retail CFD accounts lose money. Your capital is at risk.

Top crypto app in Australia for spending cryptocurrency

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Some Australian crypto apps work just like mobile banking apps; you can use them to hold and exchange multiple digital and fiat currencies, including AUD.

Additionally, some of these come with both an account and debit card so you can pay with your crypto in a store as if you were using a normal bank card. Here are some of the best to choose from.

1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How to choose the best Australian crypto exchange app

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With so many options out there, you should pick the right Australian crypto trading platform for you. Things like the exchange fees, storage facilities, and range of coins available should all impact your choice. 

To help you make the right decision, here are some questions to ask yourself as you research each cryptocurrency app & exchange.

1. How much does the crypto exchange charge to trade?

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There can be a big difference in the trading fees charged by crypto exchanges in Australia. While all exchanges generally offer low cost cryptocurrency trading, what they charge may vary widely. 

Trading fees are usually charged as a percentage of the trade. The best crypto exchange in Australia with low fees will charge 1% or less of the trade amount. Some services charge a lot higher. The information below compares the trading fees for three of the best crypto services in Australia.

Asset Plus500 fees eToro fees Eightcap fees
Cryptocurrencies From 2% 1% Up to $3.5 RT
Commodities From 0.04% From 2 pips Up to $3.5 RT
Currencies From 0.8% From 1 pip Up to $3.5 RT
Indices From 0.7% From 0.75 pts Up to $3.5 RT
Stocks From 0.08% 0% commission Up to $3.5 RT
View more > Plus500 > eToro > Eightcap >

You may also have to pay deposit and withdrawal fees. You rarely have to pay for depositing fiat currency via a bank account or credit or debit card, but you may be charged a flat withdrawal fee. There’s often a significant charge for withdrawals made in digital currency.

In addition to payment fees, you may encounter other charges such as inactivity fees, overnight fees, currency conversion fees, and more. Here’s a quick look at other types of fees applicable when trading crypto in Australia.

Fee Plus500 fees eToro fees Eightcap fees
Trading fees No Yes, on certain assets Yes
Inactivity fees Yes Yes No
Rollover/overnight fees Yes Yes, on CFDs Yes, on certain assets
Withdrawal fees No Yes Yes, for certain payment methods
Spreads Yes Yes, on certain assets Yes
Conversion fees Yes Yes, for non-USD currencies Yes, currency dependent
View more > Plus500 > eToro > Eightcap >

2. How does the exchange store customer funds?

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Crypto exchanges are available widely, but the important question is whether they are regulated in Australia. It’s regulation that protects if something happens to the exchange and you lose the money you hold on there.

You want to pick a reputable exchange that safely stores its customers’ funds. The best Bitcoin exchanges in Australia should store your funds in segregated accounts and, ideally, in cold storage (offline). Choosing an Australia crypto exchange that a reputable accountancy firm has audited can give you extra peace of mind.

3. Is the platform easy to use?

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A good user experience means more than being able to navigate the website easily. Think about how you plan to trade: will you trade from your phone? How are you going to manage your crypto portfolio? Are you after advanced trading features, margin trading, or software integrations?

Armed with that information, you can start to narrow down your shortlist by considering if the crypto exchange account suits you. For instance, if you plan to do a lot of trading on the go, you should focus on the platform offering the best crypto app in Australia.

Use the table below to compare the various features and tools offered by the top three crypto brokers in Australia.

Trading tool Plus500 tools eToro tools Eightcap tools
Charts Yes Yes Yes
News feeds Yes Yes Yes
Analyst recommendations Yes Yes Yes
Fundamental analysis Yes No Yes
Financial calendar Yes Yes Yes
MetaTrader integration No No Yes
View more > Plus500 > eToro > Eightcap >

4. What is the account verification process?

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When you create an account, you’ll often be asked to supply some personal details and a form of ID to verify your identity. It’s normally a prerequisite for any crypto exchange to be regulated in Australia.

It’s a good idea to check the verification process before signing up. That way, you can have the relevant documents to hand to create a seamless sign up process. Or, if you want to avoid supplying personal details, you can filter out the crypto exchanges in Australia that demand verification to use them.

5. How many cryptocurrencies are available?

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You can buy Bitcoin in Australia through any cryptocurrency exchange, but beyond that, the number of available coins can vary. If you want to trade altcoins, look for an Australian crypto exchange that offers a large number of coins and ‘crosses’, where you can swap from one crypto asset to another.

Many of the best cryptocurrency trading platforms in Australia also offer other markets like forex, stocks, and commodities. Below, we’ve provided the number of cryptos available on the top Australian crypto exchanges.  

Product Plus500 assets eToro assets Eightcap assets
Stock CFDs 1,800+ 3117 600+
ETF CFDs 100+ 317
Forex CFDs 50+ 49 40+
Crypto CFDs 40+ 73 250+
Index CFDs 20+ 20 10
Commodity CFDs 20+ 26 4
View more > Plus500 > eToro > Eightcap >

Note that all listed instruments on Plus500 are available to trade as CFDs.

6. Which currencies can you deposit?

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For most people, a crypto exchange in Australia is a means to transfer local fiat currencies into cryptocurrency. However, many crypto exchanges in Australia only accept US dollar deposits, which can be an issue if that is not your primary currency.

If you don’t have access to US Dollars, then it might be best to choose a large exchange like Binance or a local exchange that’s specifically designed for crypto traders in Australia. 

7. Which payment methods are accepted?

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Decide how you want to pay for your crypto. Suppose you want to fund an account with the best Australia crypto exchange using a bank transfer or debit card payment. In that case, most Australian crypto exchanges accept deposits from bank accounts and you don’t need to worry.

A cryptocurrency exchange in Australia is less likely to accept alternative payment methods, like PayPal and other e-wallet services. The larger ones, such as Binance, do accept a wide variety of payment methods, but it’s still a good idea to check whether you can pay how you want before signing up.

8. Does it offer additional features, like staking or lending?

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Think about what you want to use the exchange for and use that to influence your decision. Do you want to store or stake your coins? Lend them to earn interest, or borrow crypto yourself?

You can buy crypto in Australia through any Australia based crypto exchange that’s regulated, but not all platforms offer all these services. You may be happy to juggle multiple logins and use different exchanges, but it’s normally easier to use one service, at least to start with.

What type of Australian crypto exchanges are there?

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Most crypto investors use a centralised, global exchange like Binance or Coinbase. But cryptocurrency exchanges in Australia come in different forms. Here is a breakdown of the most common types:

  • Centralised. In a centralised exchange, there is an authority – in this case a company – that operates the service. You create an account and deposit money, and the entity holds the funds in the middle. When you make trades, they go through the central authority. The biggest crypto exchange, Binance, is an example of this type of platform.
  • Decentralised. On decentralised exchanges, there is no central authority. Instead, buyers and sellers deal with each other directly, and the crypto trading platforms are just the mechanism for connecting them. You can’t create an account; the crypto is sent from one wallet to another when a transaction takes place
  • Peer-to-peer (P2P). A peer-to-peer exchange operates like a decentralised exchange, but a central body still acts as the intermediary. Each side in a transaction makes the payment, and the central body releases the funds as soon as both sides have sent money.

Can I buy traditional financial assets on a crypto exchange in Australia?

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On some platforms, you can, but a better option is to sign up for a dedicated service that offers the specific assets you want to trade. The best Australian trading platforms allow you to buy and sell stocks, while the top forex trading apps are best for currency trading. The best CFD brokers in Australia offer a mixture of all these assets.

How to buy crypto on the best Bitcoin exchange in Australia

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Follow this short guide to learn how to buy Bitcoin in Australia. This method is simple and is the same process whether you want to buy and sell Bitcoin or whether you prefer to trade crypto instead. 

Step 1. Sign up to Plus500

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We recommend Plus500 as the best crypto exchange in Australia for Australian users.

Step 2. Create an account

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You need to supply some personal contact details, such as your name and email address, in order to set up an account. Many Australian crypto exchanges require a form of photo ID as verification before you can use your account to buy cryptocurrency in Australia. 

Later in this guide we’ve provided a handy list off all the documents you may be required to provide when registering your account with an Australian crypto company.

Step 3. Deposit funds in AUD

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Go to the bank or deposit section of your crypto trading platform account. Here, you can enter the amount you wish to deposit, choose your preferred payment method, such as a bank account, credit or debit cards, and transfer the money you want to use to buy crypto onto the exchange.

Step 4. Search your favourite crypto

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You purchase Bitcoin and other cryptocurrencies by typing the coin name or symbol in the search box. For example, to buy Bitcoin online, search for the symbol BTC. Then you enter the details of the trade.

Step 5. Buy cryptocurrency in Australia

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Finally, to buy Bitcoin or any other crypto asset, hit the ‘buy’ or ‘trade’ button. Fill in how much cryptocurrency you want to buy, and execute the trade.

Step 6. Transfer your cryptocurrency to a crypto wallet (optional)

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Your crypto assets will show up in your exchange wallet once the trade goes through. You can leave them there or move them to a dedicated crypto wallet. 

With a wallet, you have more control over your money, but it’s a bit more inconvenient if you plan on trading regularly. You can learn more about how to find the best Bitcoin wallet in Australia below.

Quick answers to key questions

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Yes, the cryptocurrency industry is legal in Australia. The government has not banned crypto; Australians can easily buy, sell, and trade all crypto assets. ASIC ensures all cryptocurrency businesses in Australia adhere to strict anti-money laundering (AML) and counter-terrorism financing (CTF) laws.

Australia is becoming a very crypto friendly country with adoption growing. The Adelaide Oval, one of the country’s biggest sporting grounds, recently announced it would start accepting crypto payments from fans. This move highlights the country’s acceptance of the crypto industry.  

Is crypto regulated in Australia?

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Cryptocurrencies are regulated by the Australian Securities and Investments Commission (ASIC). Crypto exchanges, brokers, wallet providers, advisors, and other crypto businesses must register with ASIC and comply with customer protection rules.

Are Australian crypto exchanges regulated?

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Major cryptocurrency exchanges operating in Australia must register with ASIC before serving local users. This includes popular crypto apps like Swyftx, Independent Reserve, and CoinSpot. Being an ASIC-registered exchange makes them properly regulated.

Do I have to pay tax on crypto in Australia?

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Yes, the Australian Tax Office (ATO) regards profits from crypto as taxable, which means if you generate profits from digital currencies, you’ll be liable to pay capital gains tax. You owe capital gains tax on any gains above $10,000 AUD in a tax year. Losses can be claimed as deductions. Cryptocurrency is treated as an investment asset for tax purposes.

The ATO takes a slightly different approach to crypto rewards and new tokens from staking crypto assets. The ATO views profits earned from staking and airdrops as ordinary income, which means they’ll be liable to income tax at your standard rate.

Can I deposit using AUD to a crypto exchange? 

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Yes, you can deposit Australian dollars (AUD) to buy cryptocurrency on Australian crypto apps & exchanges. Most exchanges like Swyftx and Independent Reserve allow direct bank transfers or PayID instant deposits from a bank account.

Are AUD pairs available on Australian crypto exchanges?

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The major Australian crypto exchanges offer AUD trading pairs. For example, you can trade coins like Bitcoin and Ethereum directly against the Australian dollar without converting to USDT stablecoin first. 

What documents are required to open an account with a crypto exchange in Australia?

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Know your customer (KYC) rules set by the Australian government stipulate any financial services company must apply customer identification procedures to all customers. When you register for an account with an Aussie crypto exchange you may be required to provide one or more of the following documents:

  • A current driver’s licence issued by an Australian state or territory.        
  • Proof of age card or Photo Card issued by an Australian state or territory
  • Medicare card
  • Centrelink card
  • Department of Veterans Affairs card
  • Credit card or bank account card
  • Utilities bills (e.g. telephone, electricity or gas)
  • Bank or credit card statements

Can I use cryptocurrency exchanges on Android and iOS devices?

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Yes, generally you can. However, be considerate that different app types will be available on different devices. To see if an app is available on your operating system, head over to the Google Play Store or the App Store and search for it.

Do I have to pay to use crypto apps?

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Virtually all of them are free to download, but you are likely to encounter fees and commissions with those that allow you to trade or spend cryptocurrency.

This is commonly from 1% to 2%, though we have seen as high as 5%, so watch out. All of these services aim to make money, and you should be able to find a detailed breakdown of fees in their terms and conditions.

Do I have to verify my identity with a crypto app?

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Again, this comes down to what sort of application you’re using. Most wallets do not require ID verification. However, brokers – and some exchanges – require you to pass an identity verification check, and some will need you to provide a copy of your driving license, Australian passport, or another form of photo ID.

It is entirely up to the individual discretion of each app, and some platforms do not require any form of identification for using their services.

Are cryptocurrency apps the same as crypto wallets?

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Online cryptocurrency wallets are a form of crypto app, but not all apps are wallets. Many applications that allow users to trade or buy coins let them store coins in their account, but a specialised crypto wallet provides an enhanced layer of safety and security. Some wallets even come with offline storage options which can be accessed from your smartphone. 

What is the best crypto wallet in Australia?

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Wallets are private and unregulated, so they are available everywhere, to everyone, rather than being restricted according to where you live. MetaMask and Trust Wallet are a couple of the best crypto wallets and they are available all over the world. 

However, there’s a trend towards crypto services operating as all-in-one platforms, so that you can use one account that acts as both your exchange and wallet. The best option for most beginners is to sign up for a service like Binance or Bitstamp, where you can buy crypto on the exchange and then store it on the same platform.

Crypto exchanges in Australia: your view

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We’ve discussed lots of ways you can find the best crypto trading platform in Australia. There’s one more factor you should look at when making your decision, customer reviews.

Sites like Trust Pilot often have thousands of customer reviews for some of the biggest cryptocurrency exchanges in Australia. You can use these reviews to learn from real customers.

Review source Plus500 rating eToro rating Eightcap rating
Trustpilot 4 4.4 4.3
Google Play Store 4.3 4.1 4.1
App Store 4.1 3.8 3.8
View more > Plus500 > eToro > Eightcap >
Choose a crypto exchange in Australia

Methodology: How did we choose the best cryptocurrency exchanges in Australia?

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 48 cryptocurrency exchanges & apps in Australia to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of crypto experts, analysts, and active traders who sign up to each exchange, conduct research, and score each service.

Our tests are designed to find crypto apps that offer a beginner-friendly, secure trading experience at a fair price. To supplement our practical testing and experience, we research each exchange to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each crypto exchange is awarded a final score based on 130+ data points across 8 ranking categories: costreliabilityuser experiencedeposit & withdrawalsinvesting optionsrange of products/marketsresearch & analysis tools, and the availability of educational & learning resources.

We work closely with individual crypto brands to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

FAQs

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What is the best Australia crypto exchange?
What’s the best crypto exchange for beginners in Australia?
What’s the cheapest crypto exchange with the lowest fees in Australia?
What’s the safest crypto exchange in Australia?
Can I buy cryptocurrency in Australia?
Can I use cryptocurrency apps in Australia?
Which Bitcoin wallet is best in Australia?
Is buying crypto illegal in Australia?
Are crypto apps regulated in Australia?
Can I use Kraken in Australia?


Sources & references
Risk disclaimer
James Knight
Editor of Education

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.