Crypto investors in Australia have the liberty to use any platforms they wish for their training and investing activities.
There are many crypto exchanges in the country which although not fully regulated, are registered with AUSTRAC and recognized as crypto services providers.
This doesn’t mean that every platform is ideal for you to use though. There are many crypto exchanges that may not be suitable for you even though they are generally good platforms. In this guide, we name five of the best crypto exchanges you can use in Australia.
Binance
Binance is a crypto exchange used worldwide, with more than 120 million users from hundreds of countries. The exchange is also known as the largest by trading volume.
This high trading volume may be because the exchange has deep liquidity that makes it easy to trade crypto assets that may not be tradable on other exchanges.
There are more than 300 supported assets, many of which are hard to find on other exchanges.
Binance has a pro version for experienced traders and a Lite version for beginners. Everyone therefore can use it regardless of their level of trading knowledge.
The exchange is also one of the most secure, with a reserve that serves as insurance for users’ funds it holds.
Bybit
Bybit is another global crypto exchange and a leading crypto derivatives trading platform. Headquartered in Dubai, the exchange has over 100 assets that users can trade in spot, options, or futures.
The platform is known for its deep liquidity as well, and its proof of reserves which ensures that users’ funds are secured. Bybit has over 10 million users across several countries where crypto trading and investing is allowed, including Australia.
While direct deposit of AUD may not be allowed on Bybit, you can engage in crypto P2P trading using AUD, which is another effective way to buy and sell crypto assets.
The platform’s user interface is also user-friendly, and anyone can use it easily no matter their level of crypto experience.
CoinSpot
CoinSpot is an indigenous crypto exchange in Australia. The exchange’s design makes it the go-to platform for beginners because of its simplicity. There are over 410 crypto assets available to buy and sell on this platform, making it great for altcoin traders.
It has Blockchain Australia certification, which is a major addition to its strength. The exchange is also known for its low fees, which stands at 0.1% for market orders.
With 2.5 million users, the exchange is an upcoming but promising platform for users in Australia and other countries.
You can deposit AUD directly on the exchange using different methods, including Bank Transfer, Credit/Debit Card, POLi, PayID, BPAY, and Osko.
Swyftx
Swyftx is another indigenous crypto exchange in Australia. The platform was built especially for Australian traders and investors to serve as an access point into the world of crypto. Launched in 2017, the exchange currently has well over 600,000 users in Australia alone.
The exchange can be accessed on the web via its official page, but is also accessible via mobile apps for both Android and iOS devices. Swyftx has over 300 crypto assets you can trade and invest in, giving you so much variety.
Perhaps the platform’s biggest strength is in its Self-Managed Super Funds (SMSFs) feature, which makes it a go-to platform for people interested in such investments.
It is also registered and licensed by AUSTRAC, and you can deposit AUD using bank transfer, credit/debit card, POLi, and PayID.
eToro
eToro is a leading social trading platform known for trading crypto and other markets. Beginners can use it for copy trading, which is a way of learning to trade by copying the trading strategies of more experienced traders.
There are over 3,000 assets on this platform, including crypto, and you can use it in many countries including Australia.
Its straightforward and affordable AUD deposit options, which include bank transfers, POLi Payments, credit cards and debit cards makes it even more appealing to Australians.
