Top 10 Bitcoin Trading Sites in Australia

When it comes to trading bitcoin in Australia, there are several platforms that stand out as the best. When choosing a cryptocurrency wallet, it’s important to consider the security features offered, such as two-factor authentication and multi-signature support. It’s also important to ensure that the wallet supports the cryptocurrencies you wish to hold. Log in to the approved crypto exchange account and hit the ‘Deposit Funds’ icon. A funding tab will pop up, listing all the deposit options available to you.

• DOT holders can participate in the network’s governance and decision-making processes, such as proposing and voting on changes to the protocol.
• Independent Reserve is a well-respected and trusted exchange in Australia for investing in crypto.
• Moreover, Binance has removed the trading fees on several Bitcoin pairs resulting in zero-fee crypto trading.
• Before using any exchange, it’s essential to do your research, read reviews, and make an informed decision on what exchange is right for you.

Depending on the crypto trading pair, the platform works on a spread cost of 1% which is deducted from the trade at the opening of the position. For example, the cost to trade the Bitcoin/AUD pair will incur a spread cost of 1%. The lesser-known altcoins will have a higher spread charge as the trading volume is lower. In short, our top pick for the best crypto exchange for Australian traders is Swyftx ($20 BTC sign-up bonus) using a Swyftx referral code. Out of all exchanges we have assessed, it undoubtedly has the best user interface and mobile app to buy and sell the wide selection of 310+ cryptos with AUD. Some crypto enthusiasts object to centralised exchanges because they run counter to the decentralised ethos of cryptocurrency.

What Is Share Trading?

When creating an account, make sure to use a secure password and enable two-factor authentication for added security. Some platforms also offer the option to set up a passcode or fingerprint login for added convenience. Open an account with eToro, deposit some funds with USD, and finally – buy cryptocurrencies for just $10. But this isn’t the only reason why our analysts believe you would enjoy interacting with the PancakeSwap.

• With such a high leverage, you can maximise the amount of profits you can make from your investment.
• Also look for customer support avenues, in particular live chat and email.
• Pairings can be traded against BTC, USDT, and international fiat currencies.

All three platforms are decentralized and users must own a crypto wallet to access crypto trading and swapping features. Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. Coinbase is high on our list of exchanges in Australia, and for good reason. One of the main reasons we picked Coinbase for our list of best crypto exchanges in Australia is because it offers a wide range of tradable cryptocurrencies.

Best Trading Platform Australia 2023 List

It also maintains a majority of its assets in offline storage, also known as “cold storage” which adds an extra layer of security to protect against hacking and other cyber threats. Although some of Gemini’s features are not available in Australia yet, the accessible benefits are still valuable to local crypto traders. Several critical factors help it appeal to these pro investors – with the most obvious being deep liquidity.

• Some customers complain that CoinSpot’s 1% fee for Instant Buys is too high, more than their competitors.
• After the initial minimum trade of $500 (which is standard for the industry), investors only have to put forth a minimum $20 for each trade.
• The tracking depends on the information that the exchanges provide to the authorities.
• Cointree is a simple and safe exchange for residents in Australia to buy, trade, and sell digital currencies.
• This could be problematic if you are an advanced day or swing trader, as there is no support for MT4, MT5, or any third-party platform for that matter.

Blockchains are public ledgers that are enforced by a network of computers that are not connected. A key characteristic of cryptocurrencies is that they are highly decentralized, which means that no central bank launches them. Due to the flat commissions most crypto platforms charge, day trading is highly complex.

Are Crypto Exchanges Legal in Australia?

If you like to buy overseas shares, you’ll pay a £9.99 trading fee for non-US shares plus the highest foreign exchange fee of 1.5% (for transactions under £25,000). Trading platforms provide software programs that allow investors to buy and sell shares, funds and other investments directly, rather than indirectly through a financial adviser. For instance, if you’re planning on buying bitcoin using AUDs, you’ll have to choose a platform that allows deposits through credit cards and bank transfers.

• At present, there are hundreds of crypto software that serve the same purpose of assisting traders with trading but are also at the same time unique in their own way.
• On MEXC traders can make spot transactions and margin trade (with up to 130x leverage) as well as derivatives trade and have access to more than 1,520 coins as well as 2114 trading pairs.
• The software is said to be aiding traders in earning profits by identifying profitable opportunities and acting on them.
• When looking for a crypto exchange to use in Australia, be sure to research and compare the options to find the exchange that suits you best.
• Simply put, CoinSpot has been operating for a long time and has rightfully developed a strong reputation as a reliable crypto services provider.

Quantum AI is one such crypto software that has been receiving massive hype over the last few weeks. Learn more about the software and its various features, through this Quantum AI review. With the right assistance and perfect opportunities, anyone can double or quadruple their investment easily. But crypto trading can be quite a complex process for someone who has no prior experience in trading or does not know where to start it.

Trading Volume and Liquidity

Users can also get the latest news and updates on the crypto world from Cointree’s blog. Cointree serves different kinds of customers, such as personal, SMSF, advisors, and institutional. Binance said this exchange is trying to fix the problem with ASIC and would keep serving its Australian customers through its global website.

• This fee is fixed, unlike some stockbrokers that increase their fees when you buy more.
• On the Chimpzee platform, cryptocurrency traders can generate passive income while promoting environmental sustainability.
• As a result of its basic interface, it is an exchange utilized by many investors that are looking to build their first cryptocurrency portfolio.
• Investing in a diversified portfolio of shares via a fund, investment trust or exchange-traded fund, may help to reduce your exposure to an individual company underperforming.

This works both ways as funds from a Binance wallet can be transferred to a bank account rapidly. Binance is trusted by 1 million Australians at the time of writing, making it the second-largest crypto exchange in Australia behind CoinSpot. For experienced traders looking for a trustworthy and safe crypto platform in Australia, Binance exchange is a smart pick. Despite being an international exchange, Binance has tailored its services to accommodate Australian customers with the ability to deposit AUD with zero fees.

Freetrade: General Investment Account

Unlike their centralised counterparts, DEXs do not typically use an order book system for trades. An AMM can be thought of as a money robot that can quote a price between two or more digital assets. This system is beneficial in that it creates instant access to liquidity that would have otherwise been inaccessible, allowing for trading of assets with low liquidity. Due to access to instant liquidity, buyers and sellers do not need to wait for their order to match with a counterparty, allowing the trade to execute immediately. Liquidity providers to DEXs earn fees from the trading activity, creating an opportunity for passive income generation.

• Out of the crypto exchanges we have listed above, Binance is by far the biggest.
• When it is completed, yPredict will be a ground-breaking platform for traders and developers.
• And let’s not forget about the seamless purchasing process and support for various AUD payment options, which allow users to buy cryptocurrencies quickly and efficiently.
• Here is an overview of what many in the crypto investing community consider the top crypto trading platforms in Australia in 2023.

With a limited supply of only 1 billion, the CCHG token will experience upward price pressure, providing excellent returns for early investors. The presale event, currently ongoing, offers 40% of these tokens, while the rest will be utilized for product expansion and development, exchange listings, and charity. Chimpzee is not only among the best cryptocurrencies to buy, but it is also among the best green cryptocurrencies available. The platform will donate tokens to trade NFTs and buy goods from environmental organizations that share its values.

Are crypto exchanges safe?

Quantum AI has applied high security and privacy protocols into their software which makes the platform safe and secure to use. The software is designed by using advanced technologies which makes the software efficient in analyzing the market and making profitable decisions. The software also has time leap technology which keeps it ahead of the market and other software. After providing all these details and clicking on the ‘get started now’ button, your account will be made. It will take a few minutes for the registration process to complete and then you will be able to access your account on the official website of Quantum AI.

• Some of the best features of Cointree include its simple and elegant user interface, low trading fees between 0.5% and 0.9%, OTC desk, and support for Australian Super Fund investors.
• CoinStash was specifically designed to cater to crypto beginners and novices in Australia.
• The KYC (Know Your Customer) process has to be completed before you can trade on eToro since they are a regulated platform.
• For example, you can easily sell your stocks on eToro by simply going to your portfolio and clicking the sell button.

Binance is the largest cryptocurrency exchange in the world based on trading volume. In the competitive landscape of cryptocurrency exchanges, CoinSpot distinguishes itself immediate edge further with its user-friendly interface. After conducting a comprehensive review of various platforms, we found CoinSpot to offer the most seamless user experience.

Binance: Largest Cryptocurrency Exchange in Australia

Binance Australia lets you exchange money between digital coins and Australian dollars as well as earn interest on your cryptos. If you are in Australia, You can use your credit or debit card to buy coins with Simplex using AUD. It also supports borrowing and lending services that allow you to borrow money to increase your trading volume. Cointree uses tiered fees between 0.5% and 0.9% depending on the volume traded and is reasonable for beginners looking to make their first crypto purchase. To further substantiate CoinStash’s suitability to HODLers, investors can submit their crypto to the Earn program where passive interest payments can be obtained.

• Coinbase has a simple brokerage interface that allows you to easily swap, buy or sell crypto.
• Keep in mind that we didn’t review every single exchange available, and depending on your situation, the exchange you prefer might be different from the ones we picked.
• This trading platform is licensed by ASIC, so you can be sure it’s safe and secure.
• With more than 220 trading pairs featuring BTC, ETH, USDC, and USDT as base collateral currencies, traders benefit from an extensive selection and a wide range of options.
• Cryptocurrency exchanges work a lot like other trading platforms you may be familiar with.
• Factors including ease of use, trading fees, customer support, security and more.

For Self Managed Super Funds (SMSFs) in Australia, SwyftX stands out as the platform of choice. It offers extensive features and tax reporting specifically designed for SMSFs, coupled with strong security measures. – Users praise SwyftX for its reliability and the wide range of investment options it provides. These factors contribute to SwyftX’s reputation as the top cryptocurrency exchange for SMSFs in Australia.

Get local based support when you need it

Another reason we picked Coinspot is the approach to simplifying investing in crypto with its ‘bundles’ option. This allows investors to buy assets in one transaction such as the Top 3, Top 10, Privacy coins, etc. One of the most compelling features of CoinSpot is the support for several payment methods that will cater to a broad range of Australians. They will be able to deposit AUD using POLI, PayID, BPAY, or even a cash deposit.

If you’re an advanced crypto trader, you may want to make sure your preferred exchange offers the trading types—like limit orders, which can prevent slippage by setting a hard price—and margin you want. Remember trade types involving the latter are still evolving in the U.S., so different exchanges’ offerings may vary over time. A major disadvantage is that decentralised – exchanges are much less user-friendly, not only from an interface standpoint but also in terms of currency conversion. Decentralised exchanges, for instance, don’t always allow users to deposit dollars and exchange them for crypto. This means you either have to already own crypto or use a centralised exchange to get crypto that you then use on a DEX.