Best Cryptocurrency Exchanges 2022

Best Cryptocurrency Exchanges In Australia Of 2022.
Final results: After testing and researching the most popular Australian crypto exchanges, we found Swyftx to be the best crypto exchange for Aussies. With thousands of raving reviews from within the crypto community, low fees, high-level security and stellar support they win best exchange 2022.
Best Overall: Swyftx is what we recommend and trust. They offer low fees, over 280 assets, and have had ZERO security breaches. Joining Swyftx is very easy and the verification process fast and simple. They also give you $10 free BTC on sign-up. Create your account and get $10 free here.
Full List Of The Top Rated Crypto Exchanges In Australia For 2022.
Hi, my name is Warren and I’m part of the review team here at Coincryption. I’m here to help you choose the right exchange that best suits YOUR needs.
We’ve reviewed the top 6 exchange platforms in Australia while considering factors such as ease of use, fees, beginner-friendly, security, and customer support. Check out our comprehensive reviews below…
Below are links to the best Australian exchanges to buy Bitcoin and other cryptocurrencies…
Number of crypto assets: 260+ Trading fees: 0.6% Acceptable deposit methods: credit card. PayID, POLI, Bank transfer, Debit card, Cryptocurrency. Allows AUD deposits and withdrawals: Yes.
Number of crypto assets: 290+ Trading fees: 0.1% on OTC trades and 1% for the instant buy feature Acceptable deposit methods: credit card. PayID, POLI, BPAY, cash deposit, OSKO Allows AUD deposits and withdrawals: Yes.
Number of crypto assets: 250+ Trading fees: 0.1% Acceptable deposit methods: PayID, credit card, debit card, bank transfers, Cryptocurrency, OSKO Allows AUD deposits and withdrawals: Yes.
Number of crypto assets: 20+ Trading fees: 0% – 1% Acceptable deposit methods: PayID, debit/ credit card, cash deposits, bank transfer Allows AUD deposits and withdrawals: Yes.
Number of crypto assets: 20+ Trading fees: Spread only Acceptable deposit methods: Debit card, Paypal Allows AUD deposits and withdrawals: No.
Number of crypto assets: 40+ Trading fees: 0.5% – 3.99% Acceptable deposit methods: Bank transfer, Debit/credit card Allows AUD deposits and withdrawals: Yes.
Best Crypto Exchanges in Australia: Our Top 6 Picks…
Best Exchange Overall: Swyftx.
Rating: ★★★★★ Number of crypto assets: 260+ Trading fees: 0.6% Acceptable deposit methods: credit card. PayID, POLI, Bank transfer, Debit card, Cryptocurrency. Allows AUD deposits and withdrawals: Yes Visit Website.
After testing and doing our research, we believe Swyftx is the best crypto exchange in Australia at the moment. This crypto exchange site was launched in 2019, and it has grown to become one of the best trading platforms.
Swyftx is very easy to use, which is why it has managed to capture a large user base (30,000 users) within a short period of time.
This exchange site was mainly founded to solve the major challenges Australians faced on other platforms; frustration, high spreads, deceptive fee structures, market manipulation, and high spreads.
Swyftx is registered and regulated by AUSTRAC, which is why all users have to verify their identity before being allowed to actively trade on the platform.
The verification process is pretty straightforward and takes less than 10 minutes as long as you provide them with the correct information. Once your account is verified, you can trade up to $20,000 daily.
This exchange site has some of the most competitive fees in the market and doesn’t charge fees for deposits and withdrawals over $200. It also allows AUD transactions and accepts the most popular Australian deposit and withdrawal methods which is why it’s a favourite among Aussie traders.
Swyftx also has a demo account that comes with about $20,000 in virtual money.
This is especially useful for beginners as it allows them to emulate real trades without having to use actual money. They also give all users a free $10 worth of BTC on signup using a referral code.
Most Beginner-Friendly: Coinspot.
Rating: ★★★★★ Number of crypto assets: 290+ Trading fees: 0.1% on OTC trades and 1% for the instant buy feature Acceptable deposit methods: credit card. PayID, POLI, BPAY, cash deposit, OSKO Allows AUD deposits and withdrawals: Yes.
Coinspot is one of the leading Australian exchange sites and was launched in 2013. This site is one of the longest-standing crypto trading platforms, and it was formed to provide Aussie traders with a streamlined and straightforward crypto trading experience.
It has a user-centric user interface that’s easy to navigate and allows beginners to buy and sell Cryptocurrency without feeling overwhelmed.
Since Coinspot is Australian-based , it seamlessly interacts with Australian baking systems allowing users to make direct deposits and withdrawals.
It also complies with AML/CTF regulations since it’s registered under AUTRAC, making it highly secure. Coinspot also provides users with an online wallet to store their digital coins and has impressive customer support.
Before being allowed to trade on the platform, you’ll have to provide them with extensive ID documentation, including your government-issued ID card, residential address, passport image, mobile number, etc.
Coinspot does not impose any trading limits, but BPAY deposits are limited to $10,000 daily, while POLi withdrawals and direct bank transfers are limited to $2000.
Coinspot is also ISO certified for information security, making it one of the most secure sites in Australia.
Longest Standing Exchange Site in Australia: Coinjar.
Rating: ★★★★ ★ Number of crypto assets: 20+ Trading fees: 0% – 1% Acceptable deposit methods : PayID, debit/ credit card, cash deposits, bank transfer Allows AUD deposits and withdrawals: Yes.
Coinjar was launched in 2013, and it now has more than 400,000 active users. This platform is suitable for both beginners & expert traders, and since its launch, more than $1.5 billion worth of digital assets have been traded on the site.
Coinjar has implemented some of the top security measures to ensure your digital assets are safe.
This includes storing 90% of all funds on offline wallets that are in secure locations to ensure maximum safety. They also have additional layers of security, including periodic audits, Transport Layer Security (TLS), and data encryption.
All instant trades on crypto are charged a flat 1% fee which is pretty high compared to other exchanges.
Their training fees range from 0% and 0.05% per trade, and this amount is deducted from your account balance. This ensures that the initial margin of the order is not impacted.
Coinjar’s dashboard is fairly easy to navigate, but beginner investors could have a hard time.
It also has limited cryptocurrencies compared to its competitors like Swyftx that has more than 270 coins.
Overall, this site is great for intermediate traders who are only looking to invest in the major coins.
Best For Mobile App: Coinbase.
Rating: ★★★★ ★ Number of crypto assets: 40+ Trading fees: 0.5% – 3.99% Acceptable deposit methods: Bank transfer, Debit/credit card Allows AUD deposits and withdrawals: Yes.
Cryptocurrency prices are extremely volatile, and mobile apps protect you from missing out on trades by allowing you to conveniently trade on the go. Coinbase was launched in 2014 and is one of the best crypto exchanges in Australia. Even though its headquarters are in Fransisco, it’s fully compliant with Australian rules and regulations.
Coinbase has a simple brokerage interface that allows you to easily swap, buy or sell crypto. It also has a Coinbase pro interface that is specifically designed for expert trades and has more advanced trading tools.
This site is highly secure, and it has never experienced a breach since its inception. Some of the security protocols it implants include 2FA and the storage of most funds in cold wallets. It also protects beginner traders from fraud by preventing them from sending coins to their blacklisted scam addresses.
Coinbase’s mobile app is accessible on both android and iOS devices and is similar to the web version. This ensures your trading experience is streamlined irrespective of the device you’re using.
Best Crypto Exchange for Advanced Traders: binance glassdoor සමාලෝචනය.
Rating: ★★★★ ★ Number of crypto assets: 250+ Trading fees: 0.1% Acceptable deposit methods: PayID, credit card, debit card, bank transfers, Cryptocurrency, OSKO Allows AUD deposits and withdrawals: Yes Visit Website.
This platform is ranked 1str globally in terms of trading volume. Even though it’s an international cryptocurrency exchange site, its Australian branch is fully compliant with the country’s laws and regulations. It’s one of the most reputable sites in the region and has a wide list of digital assets for advanced investors to trade with.
Binance also has complex trading and investing functionalities for professional traders, including cryptocurrency futures, margin trading, and leveraged trading. However, one of its most notable features is that it also offers decentralized finance services, staking, savings,
and crypto-backed loans. You can also trade in various fiat currencies, a feature that few Australian exchanges have.
The identity verification process at Binance is pretty simple, and you only have to provide basic details such as government-issued ID verification, phone and email verification.
Trading limits are based on a progressive trading model, which is determined by your level of verification and the market youre trading in. For instance, fiat currency trades are limited to $5,000, while withdrawal limits start at 2BTC or its equivalent value in AUDs.
Even though Binance was hacked in 2019, it still remains one of the most secure Australian exchange sites. They recently launched the Binance Coin, and all BNB token holders are offered massive discounts on their trades.
This platform also has a Binance visa card that allows you to use your Cryptocurrency for transactions. Currently, this card is accepted by more than 60 million merchants globally.
Best For Traders: eToro.
Rating: ★★★★ ★ Number of crypto assets: 20+ Trading fees: Spread only Acceptable deposit methods: Debit card, Paypal Allows AUD deposits and withdrawals: No.
eToro is Israeli-based and was founded in 2006. It’s a multi-asset trading & brokerage company that allows traders to invest in FCDs, Stocks, and Cryptocurrency.
This platform has a highly intuitive and visual platform that is perfect for beginners but also incorporates advanced trading options that expert traders would appreciate.
Perhaps one of the most notable features of eToro is its social trading feature that’s basically a community where you can connect with other traders.
This allows you to share trading strategies & ideas, and most importantly, you can mirror trades from the best investors.
If you’re just starting out at crypto trading, there’s a filter system on eToro that you can use to discover portfolios that fit criteria such as risk tolerance, investors that have copied that strategy, and return on investment. You can also limit your losses by setting up a stop loss level.
The trading fees on eToro vary based on the type of digital asset you’re trading and the current market conditions. This is often very competitive compared to other exchange sites, which charge between 0.5% to 4% per trade.
eToro also has a demo account feature that comes with $100,000 of virtual money. This allows you to become familiar with the site’s interface, features, and trading pairs before you start actively trading.
Top Factors to Consider When Choosing the Best Bitcoin Exchange Australia.
Before you settle on the best bitcoin exchange in Australia, it’s important that you review various sites to ensure they meet your trading needs. Some of the factors you should look out for include;
1. Payment Methods Allowed.
Exchange sites with multiple withdrawal and deposit methods are generally more convenient. You should, however, ensure that the options available work for you and are acceptable in Australia.
This is especially important if you choose to go with an international site. Don’t forget to check the fees associated with each method to ensure that they won’t eat a huge chunk of your profits.
2. Fees Charged.
Every time you deposit, withdraw, and trade crypto, you incur fees. If the fees are too high, your profits will be reduced. Make sure you consider the currencies you intend on trading with, payment methods, and any discounts allowed.
3. Type of Trading.
The best cryptocurrency exchange Australia often offers 3 types of trading;
Crypto-to-crypto trading fiat-to-crypto trading Both fiat-to-crypto and crypto-to-crypto trading.
Go for an exchange site that’s in alignment with your investment goals. 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.
4. User Interface and Available Trading Tools.
If you’re just getting started with cryptocurrency trading, the entire process can be complex and overwhelming, which is why you should go for a site that’s beginner-friendly. Expert traders, on the other hand, are mostly drawn to platforms with advanced trading tools and multiple trading pairs.
5. Safety of Funds.
Exchange sites are often targeted by malicious hackers due to the number of funds that are traded daily. There are also instances where unsuspecting traders fall victim to fraud, so you should look into the security features being offered.
Some of the aspects you should concentrate on include;
2-factor authentication Whether funds are stored on online or offline wallets. How well your private key is stored Constant account monitoring and data encryption.
You should also find out whether the exchange site has been hacked before and whether the affected traders were reimbursed.
6. Liquidity.
Levels of liquidity determine how easily and swiftly you can complete trades. If an exchange site has high liquidity, it means that its trading volume is high, and you can complete trades quickly. Low liquidity, on the other hand, often results in price fluctuations. Make sure you look at the order books before you create an account.
7. Customer Support.
If you need help with your account, how quickly can you reach the customer support team? This is a very critical factor, but most traders overlook it and end up losing their investments. Consider aspects such as;
How you can reach them; phone, email, live chat, telegram, etc. Hours that the support team is available How quickly they respond to queries Their library of resources on the most common FAQs Languages in which support is offered.
Don’t forget to check the platform’s reputation when it comes to providing helpful support. You can easily find this information on TrustPilot.
Other factors that you should consider include;
Cryptocurrency selection: the site should have a wide range of altcoins and fiat currency listed, as this will enable you to diversify your portfolio. Trading limits: high trading limits allow you to place large trading orders, increasing your profitability. Regulations: exchange sites that comply with Australian laws and regulations are more secure. Processing times: go for a platform that processes your deposits and withdrawals swiftly.
What Are the Different Kinds of Cryptocurrency Exchanges?
There are various types of exchanges, based on your trading experience;
1. For beginner traders: you should go for cryptocurrency brokers. This will allow you to buy digital coins directly from the sellers, so the trades are quick and easy. An example of a cryptocurrency broker is Coinspot.
2. For intermediate traders: you should trade on cryptocurrency trading platforms. This will allow you to buy and sell digital coins at competitive prices on an open market. These trading platforms also have a wide selection of digital coins and have more features such as margin trading.
Crypto trading platforms are often more difficult to navigate than brokers, but there are some that are beginner-friendly. Swyftx is one of the best trading platforms.
3. For expert traders: if you’re a professional trader, you should go for cryptocurrency derivatives platforms. Instead of outrightly trading crypto, you’’ be trading in cryptocurrency derivatives.
These sites offer a wide range of trading features, high liquidity, high leverage, and trades are executed swiftly. Binance is a highly ranked derivative platform.
A Quick List of Cryptocurrency Exchanges.
1. The best Bitcoin exchanges: If you’re just looking to buy and sell bitcoin, you should go for exchange platforms that are easy, cheap & swift and offer a wide range of payment options.
You don’t really need advanced trading tools, so focus on the payment options and how convenient they are. Coinjar is one of the best bitcoin exchanges.
2. The best altcoin exchanges: You should go for a platform that has a wide selection of cryptocurrencies and has high liquidity across all trading pairs.
You should also consider fiat payment options and low fees, but the digital coins available should be your main focus. CoinSwitch and Kucoin are great examples of altcoin exchanges.
3. The cheapest cryptocurrency exchanges: The exchange site with the lowest trading fees isn’t always the best, which is why you should also look at the spreads. Make sure the transaction fees are also reasonable.
If you’re just trading bitcoin with Australian dollars, Coinjar is the best option. For altcoin trading with AUD, swifts should be your go-to site, while Binance is the cheapest for crypto-to-crypto trades.
4. The largest cryptocurrency exchanges: The best way to measure how large an exchange platform is, is through its trading volume. High trading volume is a good indicator of how liquid and popular the site is. Currently, the largest site globally is Binance.
5. The most popular cryptocurrency exchanges: Popularity is often an indicator of how reliable an exchange site is. It’s, however, difficult to measure because most exchange sites don’t disclose the number of active users that they have.
All factors considered, the most popular sites are Coinbase and Binance.
6. The best cryptocurrency trading platforms: The best crypto exchange sites in Australia are all rounded.
They have a reasonable number of digital assets, have an easy interface, are secure, and have a good reputation. Swyftx is undoubtedly the best overall.
7. The safest cryptocurrency exchanges: These sites have strict security protocols and have never been hacked. The most secure site right now is Coinspot.
8. Cryptocurrency exchanges that don’t require ID: To trade on most Australian exchange sites, you need to have your identity verified. Some traders, however, consider this as a breach of their privacy.
The only place you can trade without providing your ID id on peer-to-peer exchange sites.
9. Cryptocurrency exchanges where you can pay with cash: One of the sites where you can buy Cryptocurrency using cash is Cpinspot. There are also bitcoin ATMs in Australia that allow you to buy BTC conveniently.
Start Cryptocurrency Trading in Australia Today!
Cryptocurrency trading can be highly profitable, but the first step is choosing the right exchange platform. Ensure you consider factors such as security, customer support, trading fees, and cryptocurrency selection.
You should also go for a site that is in alignment with your trading expertise.