BTC Markets are primarily an order book exchange based in Melbourne, Australia that offer over 20 different cryptocurrencies to buy, sell and trade against Australian dollars. If you are a new investor looking to buy Bitcoin in Australia then you have probably come across BTC Markets and are considering using it as your platform to trade crypto.
Although BTC Markets is cheaper to other popular alternatives like CoinSpot - it is still considered to be one of the more expensive and slower exchanges in Australia. It is also pertinent to note that BTC Markets has previously leaked customer data, which raises questions about their internal security and operations.
Below we breakdown the high fees on BTC Markets and compare them to their peers in Australia.
The fees on BTC Markets currently start at an expensive 0.85% and are discounted over time as you trade more volume.
You can see an image below of the BTC Markets fee structure for reference.
If you are looking for the safest, fastest and cheapest way to buy cryptocurrency in Australia - we recommend Independent Reserve who are Australia's most trusted exchange. They offer the lowest fees in the country that start at 0.05% - 0.5% making them nearly half the price of a buy or sell order on BTC Markets.
Independent Reserve is Australia’s longest running Bitcoin and cryptocurrency exchange that was recently awarded Cryptocurrency Exchange of the Year 2019.
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