Australia Cryptocurrency Exchange FAQ
Below you will find answers to frequently asked questions about Australia cryptocurrency Exchange.
About Us
CryptoExchangeReview.com.au is one of the largest sources of information on Australia Crypto Exchange for non-technical newbies on the web.
- Are you looking for the best crypto exchange?
- Confused which one to choose?
- Are you looking for Austrac registered exchange?
We review the best crypto currency exchanges in Australia. Each crypto exchange review includes important details such as where the exchange is registered, what payments they accept, and any potential red flags for users.
Our goal is to make cryptocurrency easy for everybody and provide the best advice to save you looking for the right exchange to use. You can rest assured that we’ve done the research to find the best crypto exchange in Australia!
Australia Best Crypto Exchange
Provider
Bank Transfer
Fees
Available Crypto
Rating
YES
0.85%
- Bitcoin
- Ethereum
- Litecoin
- + 350 more
YES
0.6%
- Bitcoin
- Ethereum
- Litecoin
- + 220 more
YES
1%
- Bitcoin
- Ethereum
- PowerLedger
- + 300 more
YES
0.5%
- Bitcoin
- Ethereum
- Digibyte
- + 200 more
YES
0.5%
- Bitcoin
- Ethereum
- Litecoin
- + 25 more
How are the top Australia crypto exchange reviews crafted?
We gather...We Trade...We Measure...We Report...That's how it is done.
We Gather
Since we want to enlighten the readers about the crypto world, our expert team is constantly searching for newest, verified information on every Australian crypto exhange on the market. We dig deep to gather the most comprehensive, helpful data.
We Trade
We have account with all the Exchanges we review. We are Bitcoin Users and Traders like you. We have traded personally on each and every exchange mentioned here. This is how we verify information on every crypto exhange on the Australian market.
We Measure
After the relevant data is gathered & analyzed, the top crypto exchanges are measured against each other. Each best crypto exchange is given a score. In this way, you can easily see clear crypto exchange rankings & what's worth your time.
We Report
The final step is creating top cryptocurrency exchange reviews. Our expert researches put all the collected insights into clear conclusions, recommendations, tips & guidelines. These reviews are crafted for your crypto success.
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01 Are all Australian exchanges required to be registered with AUSTRAC and ASIC?
In April of 2019 the ATO announced their Cryptocurrency data sharing program with Australian Cryptocurrency exchanges. As all Australian exchanges are required to be registered with AUSTRAC and ASIC the linking between these organisations has made it easy for the ATO to obtain this information.
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02 What are the main features of the best crypto exchanges?
The best crypto exchanges are going to have unmatched security features as their main point of reference. Also, such exchanges should possess decent fees, and be easy to use, even for beginner cryptocurrency traders. Exchanges such as Coinspot and Swyftx do tick all of these points!
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02 How do the Anti-Money Laundering and Counter-Terrorism Financing Laws apply to Australian exchange?
The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws impose a number of obligations on most digital currency exchange businesses with a geographical link to Australia. If Cryptocurrency Exchange business will exchange digital currency for fiat currency (whether Australian or not) or vice versa, they are required to:
Implement an effective, risk-based AML/CTF Program that, amongst other things, outlines your know your customer (KYC) and ongoing customer due diligence procedures.
Enrol as a reporting entity with AUSTRAC and register your exchange on AUSTRAC's Digital Currency Exchange register.
Report the necessary information to AUSTRAC on an ongoing basis, for example reporting suspicious matters.
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03 Are all Cryptocurrency Exchange located in Sydney?
No, they are located in different parts of the country.
Guiding Towards Best Crypto Exchanges
While this cryptocurrency phenomenon is taking the world by a storm, it's easy to get lost among all the investing opportunities. Choosing a brand that's dodgy & not secure for your crypto-related activities is becoming a common mistake. That's why our mission is really clear - our team of crypto experts & enthusiasts work daily to gather verified information about the best crypto exchanges in Australia. We create evidence-based crypto exchange rankings so you would find the best crypto exchange for reaching your goals effortlessly.
Top Tier Cryptocurrency Exchange
Currently, a lot of cryptocurrency exchanges have made their way into Australia (and more are popping up every month). In order to save investors from the trouble of finding the right cryptocurrency trading platform all by themselves, we have compiled a list of top tier cryptocurrency exchanges in Australia.
CoinSpot
Australian FirstFounded in 2013, CoinSpot is one of Australia’s leading exchanges with the largest selection of blockchain assets of any Australian Exchange.
Swyftx
People's ExchangeSwyftx is an Australian owned and operated crypto exchange based out of Queensland that allows users to buy Bitcoin, Ethereum and 280+ other crypto assets.
Digital Surge
Moving ForwardDigital Surge is a Bitcoin exchange based out of Brisbane. Their platform has been built to help new investors easily and securely buy, trade or pay their bills with bitcoin.
Coinstash
Easy to UseCoinstash is a registered digital currency exchange and is also one of the only digital currency trading platforms that have participated in the Australian government Austrade’s landing pad program.
Compare
Analyze all the most important metrics of your chosen cryptocurrency exchange brands & compare the fact-checked data side by side with his extensive Coinspot vs Swyftx vs Independent Reserve comparison chart.
CoinSpot
9.5Our Score
- Fiat currencies - accepted
- Very secure
- Simple to use
- A variety of cryptocurrencies to choose from
- Low Fees
- Credit Card not accepted
Swyftx
9.9Our Score
- Fiat currencies - accepted
- Low Fee
- Simple to use
- Stoploss available on trading
- Very secure
- Demo mode available
Independent Reserve
9.0Our Score
- Low trading fees
- Built-in tax calculator
- Cold storage wallets
- Multi Factor Authentication
- Limited selection of cryptocurrencies
- Relatively low liquidity
#1. Coinstash Review
Coinstash is an AUSTRAC registered crypto exchange based in Australia. Through its live support 7 days a week, Coinstash has accumulated numerous positive reviews from its customers. Coinstash is also one of the only digital currency trading platforms that have participated in the Australian government Austrade’s landing pad program..
PROS
Staking available on several cryptocurrencies
Intuitive user-interface
Live Chat Support
AUSTRAC Registered
CONS
Only Accepts AUD Fiat Deposits
No margin trading available
Account Verification: Being an Australian Cryptocurrency Exchange, Coinstash are required, by law, to ID verify all of their customers that are planning to deposit or withdraw AUD on their platform. Coinstash provides their customers with an ID verification system that is both fast and hassle-free.
Security: Coinstash is registered with AUSTRAC and treats security as the highest priority. Firstly, the platform uses SSO encryption as the base layer of security that is a highly regarded safety method in the industry and has been known to protect the data well in the past. Since their establishment in 2017, they have never encountered any security breach where customers' assets were at risk.
Fees: Coinstash charges 0.85% fees on trades. No Fees on AUD deposits and withdrawls.
Available Cryptocurrencies: 350 ++
Coinstash Key Features
Coinstash Earn: Coinstash Earn is a way of rewarding you for your cryptocurrency holding on the Coinstash platform, enabling you to earn a rate of return on cryptocurrency. Coinstash Earn is an Australian solution to earn extra yield on crypto in the form of STASH, which can be redeemed for more crypto, trade fees, or to purchase exclusive merchandise from the Coinstash Rewards Store.
Coinstash Bundles: Coinstash has several Bundles that make it easier for users to diversify their crypto assets across a range of coins. There's a bundle for DeFi Coins, another for Meme Coins, and one for Metaverse tokens, rather than having to research what each coin is for, you can simply buy the whole bundle.
Trading View Charts: Chart up your favourite assets, with awesome tools and technical indicators provided by TradingView.
Verdict: Coinstash is one of the best platforms to use for trading digital currency or managing their holdings of crypto assets. Coinstash have been developed with Australians in mind. Many of the features, such as the supported payment methods, default currency, and customer approval, are heavily focused on Australia.
Overall, Coinstash is a top choice for buying, selling, or trading Bitcoin and other Crypto for AUD. Cheap rates and a splendidly simple interface is a bonous.
#2. Swyftx Review
Swyftx is an AUSTRAC registered crypto currency trading platform with tiny spreads, based in Queensland, Australia. When it comes to trading, the Australian Cryptocurrency Exchange, Swyftx is one of the best crypto exchanges in Australia. Swyftx has formed some partnerships with various international financial institutions who support Blockchain technology in the hope to bring these partnerships onshore to Australia and making it easier for local business to adopt blockchain.
PROS
Instant verification in less than 2 minutes
Demo Mode
Live Chat Support
Real-Time Price Feed
CONS
Only Accepts AUD Fiat Deposits
No margin trading available
Account Verification: Being an Australian Cryptocurrency Exchange, Swyftx are required, by law, to ID verify all of their customers that are planning to deposit or withdraw AUD on their platform. Swyftx provides their customers with an ID verification system that is both fast and hassle-free. 70% of users who verify do so within 2 minutes of creating their account.
Security: Swyftx have a robust security framework in place that ensures providing everyday Aussies with the ability to trade Crypto in a safe environment. Swyftx implements a wide range of security practices, including: using JWT tokens & session expiry; offering 2FA account protection; consulting with third party security auditors;and undergoing external penetration testing.
Fees: Swyftx charges 0.6% fees on trades. No Fees on AUD deposits. No Fees on AUD withdrawals of any limit.
Available Cryptocurrencies: 200 ++
Swyftx Key Features
Instant Verification: Verify your account in under 2 mins with no need for uploads or selfies. You'll need an email, mobile phone and ID document number.
Real-Time Price Feed: Prices for all your favourite assets will be updated in realtime right before your eyes. You'll always get the best price with Swyftx market orders as they are re-calculated based on your order size.
Stop, Limit, Market Orders: Never miss a trade or get caught out by crypto market volatility. Set Buys & Sells to trigger at any price you want.
Trading View Charts: Chart up your favourite assets, with awesome tools and technical indicators provided by TradingView.
Verdict: Swyftx is a standout crypto exchange for Australians. It has a user-friendly platform with the option of a Demo Account, offers over 270 cryptocurrencies, accepts a wide range of deposit options with no fees, and has Live Chat Support.
On top of that, it has low fees of 0.6% on trades, the lowest spreads of any Australian exchange and top-notch security so you can buy and sell with peace of mind.
#3. Coinspot Review
Founded in 2013, CoinSpot is one of Australia’s leading exchanges with the largest selection of blockchain assets of any Australian Exchange. CoinSpot prides itself as a leader in the digital currency market and aims to provide superior customer service. CoinSpot provides customers with the largest selection of blockchain assets of any Australian Exchange with easy purchase options and an easy way to store coins for active trading. CoinSpot introduces a wide range of Australians, both beginners and experienced, to digital currencies by providing an easy to use platform that allows anyone to gain entry into the blockchain market.
PROS
Immediate AUD deposit
Ease of Use
AUSTRAC Registered
Mobile App
CONS
No Credit Card deposit
Lacks advanced trading features
Account Verification: You can get your CoinSpot account instantly verified and deposit up to $2000 per day in these 3 easy steps.
Security: CoinSpot is only Australian based exchange to be awarded ISO 27001 certification. CoinSpot has a suite of customisable account security settings such as; Two-Factor Authentication, custom withdrawal restrictions and session timeout limit settings available to all users to improve the security of their account. CoinSpot maintains industry best-practice by securing a vast majority of assets in highly secure offline locations.
Fees: CoinSpot is actually a relatively cheap exchange with fees starting as low as 0.1% on their Market Buy feature. For Instant Buy trades however, CoinSpot charges a 1% fee. POLi, PayID, Direct Deposits is free and AUD withdraw to bank is also free.
Available Cryptocurrencies: 300 ++
CoinSpot Key Features
Wide Selection of Cryptocurrencies: Over 300+ cryptocurrencies to buy, sell or trade.
Schedule automatic purchases: on a weekly, monthly or daily basis so you can dollar cost average.
24/7 Helpdesk Support and live chat: CoinSpot support are available 24/7 to help you and your enquiry.
Trading View Charts: Chart up your favourite assets, with awesome tools and technical indicators provided by TradingView.
Verdict: If you are in Australia and are wondering whether it may be beneficial for you to use this particular wallet for you cryptocurrency trading, the answer has to be a resounding yes. For the beginner, this place is easy and you can wait for the right time to buy the cryptocurrency of your choice. The same goes for the seasoned trader. Coinspot with office in Melbourne is Australian Exchange for Australian people.
#4. Digital Surge Review
Digital Surge provides a uniquely easy way to buy, sell and store crypto in Australia. With an emphasis on simplicity, their newly renovated platform makes crypto as enjoyable and easy-to-understand as possible. Renowned for their low fees, competitive spreads and personalised customer-support, Digital Surge is an excellent choice for beginners and traders of all levels. Based in Brisbane, Digital Surge are a friendly, close-knit team committed to building trust and transparency within the cryptocurrency community, taking part in a number of community events to help to bring awareness to the industry.
PROS
Lower fees & more competitive spreads that can’t be beaten
Live Chat Support
A layout designed to make trading simple & easy-to-understand
Premium educational resources & expert trading advice for all DS customers
CONS
Only Accepts AUD Fiat Deposits
Specifically caters to new traders, limiting usability for experienced investors
Account Verification: The default verification level that requires only your basic identification details to complete your account setup. This is the simplest verification level and allows you to immediately deposit, trade and withdraw AUD back to your bank account.
If you wish to send your crypto to an external wallet, pay bills from your DS wallet, or withdraw to a bank account you haven’t deposited from, you will need to upgrade to Level 2.
Security: Digital Surge’s security features eradicate every shred of safety concerns. It equips esteemed safety technology protocols while also offering the benefit of 2FA. Moreover, the exchange uses a cold and hot Digital Surge wallet to secure users’ digital currencies stash. With the approach, customers can rest assured and store crypto in Australia due to its independent reserve mechanism. Ever since its establishment, it has faced no data theft or breaches, showcasing its capabilities.
Fees: Digital Surge offers deposits through PayID/Osko (instant and free) and POLi payments (starting at $2 and capped at $3.30). If you want to buy or sell instantly, the fee is only 0.5%. If you want to trade, the fees are a maximum of 0.5% and can be lowered to only 0.1% if you are trading in large volumes over a 30 day rolling period.
Available Cryptocurrencies: 250 ++
Digital Surge Key Features
Wide Selection of Cryptocurrencies: Over 250+ cryptocurrencies to buy, sell or trade.
Ability to pay Australian bills with Bitcoin: An extremely cool feature with Digital Surge is the ability to pay any Australian bill or credit card that has a BPAY biller code, using your Bitcoin.
Price alerts: If you want to know instantly once a certain crypto hits a particular price, you can set up alerts to SMS and/or email you. This can be used to buy crypto at a good price and sell at a high price.
Excellent customer support service: The personalised customer support provided at Digital Surge is exceptional, which can be accessed via Live Chat or email. The support team is Australian based, so you do not need to worry about language barriers.
Verdict: If you live in Australia, and especially if you are new to cryptocurrency, Digital Surge is an exchange you should look into. It’s hard to overlook its combination of classy user-experience, fast deposits, competitive trading fees, tradable coins, free AUD withdrawals, and 24 / 7 customer service.
#5. Independent Reserve Review
Established in 2013, Independent Reserve is one of the world’s leading fiat-to-crypto exchanges in Sydney, Australia. The crypto trading platform has a secure and safe environment that transforms crypto technology into a regulated and robust financial service instantly. It’s committed to bringing professionalism and openness to cryptocurrency trading, and to operating fully in line with Australian financial services regulations. One of the distinctive features of Independent Reserve is that your account can simultaneously support Australian, New Zealand and US dollars.
PROS
Supports multiple fiat currencies like NZD, AUD, and USD
Low trading fees
Built-in tax calculator
Cold storage wallets
CONS
Limited selection of cryptocurrencies
Relatively low liquidity and hidden withdrawal or trading fees
Account Verification: Creating a trading account with Independent Reserve is free and takes only a moment. All you need is to visit the site and click on the Create Account button conveniently positioned at the top right-hand corner. Simply enter your name, and password and in a minute or less you’ll have an account with Independent Reserve.If you are an Australian Resident and are opening an individual account, you may be eligible for a FastTrack account that will allow you instant access to deposit funds and trade.
Security: Independent Reserve uses a 3rd-party provider called Cobalt for its network security and regularly tests the website’s vulnerabilities. The databases are encrypted and signed several times across four different data centers, making this trading platform safe and secured. Most of the cryptocurrency assets on the exchange are stored in cold storage.
Fees: Independent Reserve fees follow a flat flee model, unlike other cryptocurrency exchanges where they offer a flat 0.5% trading fee for both makers and takers, based on the 30 days trading volume. The trading platform also reduces the trading fees to as low as 0.02% as the trading volume increases. Australian dollar withdrawals to bank are free of any charge.
Available Cryptocurrencies: 25
Independent Reserve Key Features
AutoTrader: Independent Reserve’s AutoTrader enables users to implement automated cryptocurrency trading strategies from their strategy library. It is free to use.
Tax estimator: Estimate how much tax you owe on the crypto investments in your portfolio using a tax estimator developed by KPMG.
SMSF: Invest in cryptocurrencies with a Self-Managed Super Fund.
Referral or affiliate program: This program enables current users to get 50% of the brokerage fees that the referred users pay for the 1st 90 days.
Verdict: Although the site and trader focus is not going to be for everyone, Independent Reserve certainly offers a secure option for serious bitcoin, bitcoin cash, ethereum, litecoin and other 20 Cryptocurrencies traders or traditional traders looking to expand into 25 cryptocurrencies IR has to offer. The choice of trading in three currencies, US, AUS and NZ dollars is a great feature and the site provides all the tools needed to buy and sell quickly at the market price.
Disclaimer
The information on this website is authentic to the best of our knowledge and is for general informational purposes only and as such, it is prone to errors and the absence of some key information and should never be percieved as financial advice. All content on www.cryptoexchangereview.com.au is provided solely for informational purposes. It is not an offer to buy or sell any security, product, service or investment. The opinions expressed in this website do not constitute investment advice and independent financial advice should be sought where appropriate.