Best Crypto Exchange Australia – Top 5 Bitcoin Exchanges in 2021

If you’re looking to trade Bitcoin in Australia – you are going to need a top-rated exchange on your side. Not only does your chosen Bitcoin exchange need to have a strong regulatory framework – but it must offer low fees and your chosen preferred payment method.

If you don’t have time to research dozens of providers yourself – this guide on the Best Crypto Exchange Australia is a must-read. Not only do we review the best Bitcoin exchanges in this space – but we also walk you through the process of getting started with an account today.

#1 Crypto Exchange Australia – eToro

1
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Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

Best Crypto Exchange Australia – Top 5 List

Looking for the best crypto exchange Australia? Below is a list of recommended bitcoin exchanges.

  • eToro – Overall Best Bitcoin Exchange Australia
  • Coinbase – Best Bitcoin Site for Beginners
  • OKEx – Recommended Exchange for Low Fees
  • Binance – Best Australian Crypto Exchange for Asset Diversity
  • Coinjar – Good for Small Investments

You will find a full review of each Bitcoin exchange further down in this guide.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Best Crypto Exchange Australia – Full Reviews

Choosing the best crypto exchange in Australia for you and your personal needs is no easy feat. First, you need to check what safeguards are in place to keep your Bitcoin investments safe – such as whether or not the exchange is regulated. Then, you need to check metrics surrounding fees and commissions, payment methods, trading tools, user-friendliness, customer service, and more.

Baring in mind just how time-consuming this research process can be – we have done the hard work for you by reviewing the best Bitcoin exchanges in Australia for 2021.

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9 Providers that match your filters

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1 or better

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1 or better

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Recommended Broker

Rating

for $ 100 you get
0.0024BTC
What we like
  • Trade real cryptos and crypto CFDs
  • Licensed broker with deposit insurance
  • Integrated wallet
Fees
Safety
Coin selection
Features
Instant Verification For Beginners Wallet Service Mobile App
Payment methods
Credit Card Paypal Sepa Transfer Skrill Sofort
for $100 you get
0.0024 BTC

CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

Rating

for $ 100 you get
0.0025BTC
What we like
  • Amount of withdrawal fee: $0
  • Large amount of cryptocurrencies for CFD trading
  • Minimum deposit: $20
Fees
Safety
Coin selection
Features
Instant Verification For Beginners Wallet Service Mobile App
Payment methods
Credit Card Giropay Neteller Paypal Sepa Transfer Skrill Sofort
for $100 you get
0.0025 BTC

CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

Rating

for $ 100 you get
0.0024BTC
What we like
  • Careful selection of cryptocurrencies
  • Regulated by CBI and MiFID in Europe
  • No commissions and low spreads
Fees
Safety
Coin selection
Features
For Beginners Mobile App
Payment methods
Credit Card Neteller Skrill
for $100 you get
0.0024 BTC

CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

1. eToro – Overall Best Bitcoin Exchange Australia (ASIC Regulated)

etoro review It goes without saying that safety should be your main priority when searching for the best Bitcoin exchange in Australia. After all, plenty of cryptocurrency exchanges have since folded – with many walking away with client funds. This is why for us – the best Bitcoin exchange in Australia is eToro – as the broker is authorized and regulated by the Australian Securities and Investments Commission (ASIC).

This means that you can buy, sell, and trade Bitcoin in the knowledge that your hard-earned capital is safe. With that said, eToro is much more than just a regulated broker. On the contrary, this platform stands out in plenty of other departments. For example, eToro allows you to buy Bitcoin from just $25. This means that you can invest and trade small amounts without risking too much money. Additionally, eToro operates a spread-only pricing model. This starts at just 0.75% on Bitcoin – which is super competitive.

etoro review

Once you have purchased Bitcoin from this top-rated crypto exchange – you don’t need to worry about withdrawing the digital tokens to a private wallet. This is because eToro will safely store your crypto assets on your behalf. As such, you can keep your BTC coins on the platform until you are ready to cash out. Other cryptocurrencies are supported by eToro too – which includes the likes of Ethereum, Ethereum Classic, Bitcoin Cash, EOS, Cardano, XRP, and more. The crypto exchange also supports a number of decentralized finance (DeFi) coins like AAVE, Uniswap, and LINK.

eToro also makes our number one spot as the best Bitcoin exchange Australia as its offers social and copy trading tools. This allows you to view other investors that use the site to trade then copy their orders like-for-like. This means that you can trade digital currencies passively – which is ideal if you don’t have the time to perform research and analysis. The other investment tool that might interest you is the eToro CryptoPortfolio. This operates in a similar nature to an ETF, insofar that your portfolio will contain multiple crypto assets.

etoro review

This is managed by the team at eToro – so this is another option if you want to invest in digital currencies passively. If you’re based in Australia and also plan to invest in other asset classes, eToro offers thousands of stocks from 17 international marketplaces. The broker is also home to indices, forex, commodities, and ETFs. Getting started at eToro takes less than five minutes – as it’s just a case of opening an account and meeting a minimum first-time deposit of $200. You can fund your account with a debit/credit card, Paypal, or bank transfer.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Buy thousands of international stocks at 0% commission
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Regulated by the FCA, CySEC, and ASIC
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Best Crypto Exchange Australia for Beginners

coinbase review Coinbase recently entered the Australian marketplace – which is great news for those of you that wish to buy or trade Bitcoin in a user-friendly manner. This is because Coinbase was designed for the ‘average’ investor that has little knowledge of how Bitcoin exchanges work.

As such, the process of purchasing Bitcoin and other cryptocurrencies is fast, simple, and free of complex jargon. In terms of the specifics, Coinbase allows you to buy bItcoin in Australia with a debit card. This will cost you an all-in fee of 3.99% – which is pricey. You can also deposit funds from your Australian bank account for free – and then use the money to buy Bitcoin at a commission of 1.49%.

okex review

This top-rated exchange is regulated in the US and is now used by over 35 million people. Coinbase offers heaps of other digital currencies alongside a fully-fledged mobile app. You can also download the Coinbase wallet to your iOS or Android device for storage purposes. Finally, Coinbase also offers a debit card that is issued by Visa, which allows you to spend your crypto assets in the real world.

Pros

  • One of the most popular cryptocurrency exchanges
  • More than 35 million users
  • Supports instant debit card purchases
  • Dozens of digital currencies to choose from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, Australia’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

3. OKEx – Best Bitcoin Exchange Australia for Low Fees

OKEx is a low-cost Bitcoin exchange that supports more than 400+ cryptocurrency pairs. This covers fiat-to-crypto pairs like BTC/USD and plenty of crypto-cross markets like ETH/BTC, XRP/BTC, and BTC/USDT. In terms of trading commissions, this starts at just 0.10% at OKEx – which is very low.

If you find yourself trading larger amounts, your commission will be reduced further. OKEx supports debit and credit card deposits, but the fees are somewhat high. As such, your best option is to fund your trading account with a digital currency. In doing so, OKEx won’t charge you any fees. When it comes to the crypto exchange platform itself – you will have access to a plethora of useful tools.

binance review

This includes information on market depth, real-time order books, customized charts, and technical indicators. OKEx also offers cryptocurrency derivatives – which includes leveraged margin trading. OKEx is also popular in Australia because it offers interest-bearing savings accounts. This allows you to earn money on your idle cryptocurrencies – with some tokens yielding over 10% annually.

Pros

  • Trusted crypto exchange with over 20 million users
  • More than 400+ digital currency pairs
  • Buy and sell cryptocurrencies with a debit/credit card or bank transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation and highly secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products are too complex for beginners

at eToro, Australia’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

4. Binance – Best Bitcoin Site for Asset Diversity

Binance is not only one of the most popular Bitcoin exchanges in Australia – but globally. The platform recently announced that it is home to over 100 million active user accounts and it regularly processes over $10 billion worth of daily trading activity.

This Bitcoin exchange is going to be ideal if you like to have access to heaps of different cryptocurrency markets. This is because you will find hundreds of digital currencies at Binance – which includes large-cap and small-cap tokens. You can trade Bitcoin against fiat currencies like the US and Australian dollar or alongside other digital assets like Ethereum and Ripple.

binance review

Irrespective of which Bitcoin pairs you decide to trade, you will only pay 0.10% in commission. Much like OKEx, Binance offers more preferential commissions for those trading larger amounts. if you want to buy Bitcoin with a debit or credit card – this is also supported by Binance. The minimum deposit on Visa and MasterCard is just $25 AUD. You can also fund your account with a local bank transfer.

Pros

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit cards and local bank transfers
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, Australia’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

 

5. Coinjar – Ideal Bitcoin Trading Platform for Small Investments

coinjar review Coinjar is the largest Bitcoin exchange in Australia – with the platform offering cryptocurrency trading services since 2013. The exchange platform is very simple to use – especially if you are a newbie. Coinjar allows you to deposit funds with AUD through a variety of everyday payment methods.

This includes everything from BPAY, NPP, and Blueshyft cash deposits to Visa, MasterCard, and a bank transfer. Fees will depend on your chosen payment type. For example, there are no fees when using BPAY or NPP, but if you want to buy Bitcoin instantly with a debit or credit card – this will cost you 2%. Standard trading commissions on funded accounts amount to 1% of the transaction volume.

coinjar review

Supported cryptocurrencies at Coinjar are relatively modest, with a small selection on offer. On top of Bitcoin, this includes major digital currencies like Ethereum, Ripple, Stellar, and Litecoin. Coinjar is also hot on up-and-coming DeFi coins – which includes AAVE, 0x, Compound, Uniswap, and Yearn.finance. Coinjar allows you to access these crypto-assets online or via the iOS/Android app.

Pros

  • Has been active in the crypto brokerage arena since 2013
  • Very user-friendly platform – so perfect for beginners
  • Mininmum deposit of just $5
  • No fees to deposit funds via bank transfer
  • Debit/credit cards also supported
  • Top-rated mobile app

Cons

  • Too basic for experienced cryptocurrency traders

at eToro, Australia’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

 

How to Find Crypto Exchanges Australia

When searching for the best Bitcoin exchange in Australia for your needs – there are several core metrics that you need to look for. This will ensure that you choose the best platform for your trading requirements.

Below we discuss these core metrics in more detail so that you have the best chance possible of selecting the right provider.

Safety and Trust

First and foremost, spend some time assessing how safe your money and digital assets are at the Bitcoin exchange in question. This is without a doubt the most important metric to consider when choosing a crypto exchange – as there are a lot of illegitimate platforms in this space.

etoro ASIC

We would argue that in reality – if your chosen Bitcoin exchange isn’t regulated by ASIC – you should probably look elsewhere. This is why we like eToro – as the exchange is not only authorized and licensed by ASIC – but the FCA (UK) and CySEC (Cyprus).

Payment Methods

Unless you already have some digital tokens to hand – it’s likely that you will need to deposit funds with Australian dollars. This means that your chosen Bitcoin exchange must accept your preferred payment type.

eToro, for example, accepts debit and credit cards issued by Visa, MasterCard, and Maestro. The exchange also supports local bank transfers and e-wallets like Paypal and Skrill.

Fees

There are several fees that you need to look out for when choosing the best Bitcoin exchange in Australia. First, check to see what deposit fees apply to your chosen payment method. Many crypto exchanges in this space charge in excess of 5% on debit/credit cards – which is expensive.

eToro charges just 0.5% on deposits, which is one of the lowest we have seen. You also need to check what trading commissions apply. Coinbase charges a whopping 1.49% while Coinjar isn’t much better at 1%. eToro only charges a spread – so there isn’t a commission per-say.

Markets

If you are simply looking to buy Bitcoin from an online exchange – this is something supported by all of the platforms that we have reviewed today. However, if you are looking to engage in short-term trading – be sure to check what markets are available.

For example, if you want to trade Bitcoin against AUD – as opposed to USD, this is possible at eToro. The platform offers lots of other cryptocurrency markets that are paired with the Australian dollar – such as XRP/AUD and ETH/AUD.

User-Friendliness

If you’re a beginner in the world of cryptocurrency trading – make sure your chosen platform is easy to use. We found that the best Bitcoin exchanges in Australia offer a user-friendly experience that is free of complex jargon.

In choosing such a platform, you can be sure that you will not make any costly mistakes. On the other hand, if you’re an experienced cryptocurrency trader, you might consider a more advanced platform like OKEx or Binance – which is suited for experienced pros.

Customer Service

You should also look at what customer services channels are available on the Bitcoin exchange and what hours are offered. The best Bitcoin exchanges in Australia offer customer support on a 24/7 basis. The easiest way to speak with a support agent is through live chat, so check to see if this is available.

How to Get Started With the Best Bitcoin Exchange Australia

Ready to start trading cryptocurrency with the best Bitcoin exchange in Australia? If so, we are now going to show you how to get started. By following the walkthrough below – you will have your first Bitcoin order placed within 5 minutes.

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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

Recommended Broker
Buy now

CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

Recommended Broker
Buy now

CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Rating
5.0
4.5
4.3
Mobile App Rating
1/10
10/10
9/10
Mobile App
Wallet
Number of Coins
32814
Trading Fees
SpreadsCommissionN/A
Deposit Fees
N/A$0N/A
Withdrawal Fees
5 USD$0N/A
Regulated
N/AYesCBI and MiFID in Europe
Min. Deposit
50$$20$100
Leveraged Trading
N/AYes1:2 for cryptocurrencies
Bitcoin
$48280.47$47968.98$48088.78
Ethereum
$3682.58$3617.53$3626.57
XRP
$1.13$1.10$1.12
Tether
$1.00N/AN/A
Litecoin
$193.28N/A$190.82
Bitcoin Cash
$648.55N/A$644.42
Chainlink
$30.50N/A$30.96
Cardano
$2.52N/AN/A
IOTA
$1.56N/A$1.52
Binance Coin
$436.74N/AN/A
Stellar
$0.34$0.33$0.34
EOS
$5.25N/A$5.18
Credit Card
Paypal
Sepa Transfer
Skrill
Sofort
Giropay
Neteller

Step 1: Open a Bitcoin Exchange Account

To get the ball rolling, visit the eToro website and register an account. You will need to enter your contact details and personal information. You will also need to select a username and a strong password.

how to join etoro

To complete the eToro registration process, you need to verify your mobile number. eToro will send you a code via SMS – which you then need to enter on-screen.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Complete KYC Process

All ASIC-regulated brokers must comply with Australian laws on anti-money laundering. As such, you will now need to go through a very quick KYC (Know Your Customer) process.

This will require the following two documents:

  • Passport or driver’s license
  • Utility bill or bank statement – issued within the prior three months

eToro will validate your documents instantly – so you can move straight onto Step 3.

Step 3: Deposit Funds

eToro makes the deposit process easy for Australian residents – as you can instantly fund your account with a debit or credit card. If would you prefer to use an e-wallet, eToro also supports Paypal, Skrill, and Neteller – all of which are processed instantly. The other option is to transfer funds from your bank account – but this might take a couple of days to arrive. The minimum deposit is US$200 – which is about AUD$270.

Step 4: Choose Bitcoin Market

Now you can search for the Bitcoin market that you wish to trade. In our example below, we are looking to trade Bitcoin against the Australian dollar.

buy bitcoin etoro

As such, we simply enter ‘BTCAUD’ into the search box and click on the result that pops up.

Step 5: Buy Bitcoin

Finally, you need to set up an order. For this, you simply need to enter your stake in the ‘Amount’ box. This needs to be stated in USD as opposed to AUD. The minimum trade size on eToro is just $25.

Once you click the ‘Open Trade’ button – your Bitcoin order is live!

Best Australian Crypto Exchanges – Conclusion

This comprehensive guide has reviewed the best Bitcoin exchanges in Australia. While the likes of Coinbase, OKEx, Binance, and Coinjar are worth considering – we found that the overall best Bitcoin exchange is eToro.

This hugely popular platform is regulated by ASIC – so you know that you are using a legitimate broker that will keep your crypto investments safe. eToro is also a low-cost exchange – with the platform charging just 0.5% on debit/credit card and e-wallet deposits and you will only pay the spreads to trade Bitcoin.

You can start trading at the eToro exchange in less than five minutes by quickly opening an account and depositing funds in AUD!

eToro – Best Crypto Exchange Australia

 

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.