Australia is one of the most cryptocurrency crazy countries around the world. According to a recent study by leading Australian cryptocurrency exchange Independent Reserve, 1 in 5 Australians are open to investing in cryptocurrency over the next 6 months.
With so many Aussie's interested in cryptocurrency, and over 250 registered digital currency exchanges in Australia - this article is designed to help you find the best cryptocurrency in Australia for your needs.
Our team has compared over 30 different Australian cryptocurrency platforms to help you make an informed decision before you trust your hard earned money with an exchange.
Independent Reserve is Australia's most trusted exchange that was awarded Australian cryptocurrency exchange of the year in 2019. Most notably, they offer a simple user interface, competitive fees and the best cryptocurrencies including all of the latest DeFi tokens.
Independent Reserve also boast one of the lowest fee structures in Australia starting at 0.05% up to 0.5%.
Independent Reserve's exchange is available to customers worldwide, however their key focus is in Australia, New Zealand and Singapore. In terms of fiat deposits, they also accept AUD, USD and NZD as shown above.
Their exchange offers one of the widest rangest of deposit methods available in Australia including PayID/Osko, EFT, POLi and SWIFT. This makes it easy for Australians and New Zealanders to quickly onboard and buy Bitcoin and other cryptocurrencies due to their great range of on-ramps.
Independent Reserve are also considered one of the best exchanges for Over the Counter (OTC) trades and Self Managed Super Fund clients that are interested in diversifying into cryptocurrency.
Another important thing to note is that Independent Reserve has one of the best track records in the world in terms of being a cryptocurrency exchange that has never been hacked. They are well known in Australia for their security and are one of the only cryptocurrency exchanges around the world that offer insurance on crypto assets.
They are the best exchange to buy Bitcoin with a Commonwealth Bank Account, Bank of China Account, ANZ Bank Account and Westpac Bank Account.
Their order book style trading interface is extremely easy for both experienced and first time investors. Users have the option to place a market buy, meaning they can buy Bitcoin or another cryptocurrency instantly using the lowest sell price available. Or alternatively, place a limit order that enables users to choose a price they wish to buy Bitcoin or another cryptocurrency at.
For example, a user can set a 'limit buy' for $1,000 AUD worth of Bitcoin at $12,000 AUD. This means that when the price of Bitcoin drops to $12,000 AUD - a $1,000 AUD buy order will execute for the user automatically.
Read our detailed Independent Reserve Review.
CoinSpot is widely regarded as the easiest and most useable exchange in Australia for newbies to get into cryptocurrency.
They offer over 120+ different cryptocurrencies and altcoins on an easy to use platform with an instant buy feature. Although it may not be the most cost effective option for new users in terms of fee's, it is a great way to get started.
CoinSpot supports the widest range of cryptocurrencies and altcoins in Australia that can be bought, sold and traded all one one platform. This includes Bitcoin, Ethereum, Chainlink, Cardano, Tezos and much more. They also offer a secure and easy to use wallet for users to store their coins and then quickly be able to convert them for AUD.
CoinSpot also have an extremely clean dashboard that enables users to track their cryptocurrencies performance over different timeframes.
Get started with CoinSpot
CoinSpot's fees on their instant order's are 1% which is a little less competitive than Independent Reserve and other exchanges on the market - however it is definitely the most convenient option.
Their platform is the most user-friendly and easy to navigate. It is simple and fast to create an account, deposit AUD and purchase the latest cryptocurrencies.
Read our detailed CoinSpot Review.
Coinstash is a relatively new cryptocurrency exchange in Australia that currently offers Bitcoin, Ethereum and XRP on their sleek and easy to use exchange.
Based in Brisbane, Australia - Coinstash is a rapidly growing exchange in the space that has a clean and easy to use UI for both new and seasoned investors in the space to get onboarded with the top cryptocurrencies.
From our experience, Coinstash have one of the fastest onboarding experiences in Australia for a cryptocurrency exchange. When we submitted our Know Your Customer (KYC) documentation - which includes our 100 points ID, we were verified in minutes and ready to start purchasing Bitcoin.
Although Coinstash have no fees up front, our assumption is that their fee is taken in the spread. We advise users to compare their Bitcoin and cryptocurrency price against other top exchanges like Independent Reserve or CoinSpot.
Swyftx is a cryptocurrency exchange based in Brisbane Australia that offers a simple platform for Australians to buy, sell, trade and invest in over 100 different cryptocurrencies.
The exchange is designed for simplicity and is focused of making it easy for new users to buy cryptocurrencies in Australia.
Unlike traditional order book exchanges like Independent Reserve, the Swyftx platforms works like a broker by finding the best AUD or USD rate for cryptocurrencies you want to buy on the top exchanges around the world. When you place an order, the Swyftx system will match your order and execute it on another platform at the best price.
Although this may sound like an interesting concept - this essentially makes Swyftx a middle man between yourself and another platform around the world, which ultimately means they have pretty high fees and spreads.
Bitaroo is Australia's biggest Bitcoin only exchange. As a Bitcoin only exchange, they are one of the cheapest options in Australia in terms of fees and spreads for BTC.
Their exchange offers a wide range of different services and features including automated dollar cost averaging, and OTC desk, SMSF support and much more.
Bitaroo also offers an advanced trading UI that enables investors and traders to set advanced auto types like stop losses and limit buys.
Get started with Bitaroo
Overall Bitaroo is a great option for those interested in purchasing Bitcoin only.
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