Best Crypto Exchange Australia – Top 5 Bitcoin Exchanges in 2023
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
If you’re looking to trade Bitcoin in Australia, you will 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.
Table of Contents
#1 Crypto Exchange Australia – eToro
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Mobile AppYes
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 2023.
1. eToro – Overall Best Bitcoin Exchange Australia (ASIC Regulated)
After all, plenty of cryptocurrency exchanges has 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.
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.
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 the best shares 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 $50.
You can fund your account with a debit/credit card, Paypal, or bank transfer.
Pros
- Invest in cryptocurrencies on a variable spread and a fixed fee of 1%
- Buy thousands of international stocks at 0% commission
- Minimum investment per trade from just $10
- 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
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.
Furthermore, 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%.
This top-rated exchange is regulated in the US and is now used by approximately 73 million verified users. In addition, 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.
Coinbase is the perfect platform for first-time investors. Coinbase makes it easy to get started with its user-friendly features and straightforward process.
If you’re looking for a more robust trading experience, Coinbase Pro offers all the bells and whistles you need to stay ahead of the curve.
Finally, Coinbase also offers a debit card issued by Visa, which allows you to spend your crypto assets in the real world.
Pros
- One of the most popular cryptocurrency exchanges
- Approximately 73 million verified 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
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 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 many useful tools.
This includes information on market depth, real-time order books, customized charts, and technical indicators. OKEx also offers cryptocurrency derivatives – which include 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. It regularly processes over $10 billion worth of daily trading activity.
This Bitcoin exchange will 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.
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
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.
Still, suppose you want to buy Bitcoin instantly with an Australian Visa or MasterCard (debit or credit card). In that case, this will cost you 2%.
Standard trading commissions on funded accounts amount to 1% of the transaction volume.
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.
Moreover, 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.
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 looking to buy Bitcoin from an online exchange, this is 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.
In addition, 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 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 suited for experienced pros.
Customer Service
It would help if you also looked 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 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 will show you how to get started. By following the walkthrough below – you will have your first Bitcoin order placed within 5 minutes.
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.
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 $50.
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.
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 $10.
Once you click the ‘Open Trade’ button – your Bitcoin order is live!
Best Australian Crypto Exchanges – Conclusion
Cryptocurrencies are the future of finance, and it is essential to know what wallets can store them.
The other top three cryptocurrency wallet options for Australian users include Dogecoin wallets, Ethereum wallets, and XRP wallets which allow you to keep your coins safe from thieves while still being able to trade in any market with ease!
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. 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
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