Are you looking for a reliable exchange in Australia to trade cryptocurrencies? Look no further. We have several options for you to help you choose one that matches your specific trading needs. Keep reading to learn more.
Swyftx
This is a beginner-friendly crypto exchange in Australia. All new users who complete various Learn courses on the platform receive free tokens. Before risking your money to trade crypto, Swyftx gives you access to a demo account to test your strategies first. There are over 280 crypto tokens listed for trade on the exchange.
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Swyftx prioritizes user safety, which is why it partners with TRM Labs to put fraud defences in place. Getting started with the crypto exchange is fast, considering that you are not required to upload selfies or documents.
Coinspot
As a leading cryptocurrency exchange in Australia, Coinspot offers numerous services to serve its diverse user base. Besides spot trading, users can participate in OTC trading if they are trading in massive volumes. Further, Coinspot allows customers to list and trade NFTs.
What’s more, the exchange supports over 400 cryptocurrencies, giving users a wide range of trading options to choose from. Coinspot is famous for its excellent customer support, which is available 24/7. Also, it protects user accounts by applying two-factor authentication.
Independent Reserve
Launched in 2013, Independent Reserve is Australia’s oldest cryptocurrency exchange. It allows users to trade crypto using four fiat currencies. Furthermore, the exchange supports multiple payment methods, making it easy for customers to fund their accounts. Independent Reserve holds a license from AUSTRAC.
Some of the features you can find on the exchange include margin trading, OTC trading, and tax preparation. The biggest downside of Independent Reserve is that it supports fewer cryptocurrencies (30) than most of its competitors.
Bitaroo
This a Bitcoin-only exchange. With a trading fee of 0.19%, you can trade BTC on Bitaroo. Moreover, the platform allows users to settle their various bills using Bitcoin. Some of the notable features of Bitaroo include Auto DCA, Trailing Stop Orders, and Stop Market Orders. You can fund your Bitaroo account via a bank transfer or using PayID.
Elbaite
This is a non-custodial P2P crypto instance exchange with its headquarters in Melbourne. Being a non-custodial exchange, Elbaite doesn’t store users’ cryptocurrencies, giving them total control over their funds as they trade. Unfortunately, this platform only supports 28 digital currencies.
Elbaite has obtained a license from AUSTRAC. What’s more, the exchange uses TX-Hash verification to ensure all on-chain transactions conducted by their users are fair.
CoinJar
CoinJar is the second-oldest Australian crypto exchange. It was launched in late 2013. The trading platform supports several payment methods, including Apple Pay, Google Pay, and PayID. Its minimum deposit requirement is considerably low ($10).
Besides being AUSTRAC-registered, CoinJar secures user assets with two reliable security companies, Fireblocks and BitGo.
AmberApp
Like Bitaroo, AmberApp is a Bitcoin-only exchange. It boasts enhanced security, including muti-sig vaults, Know Your Customer, and encryption. Besides earning from trading, AmberApp users get rewards by inviting their friends to the crypto exchange.
HardBlock
Launched in 2014, HardBlock allows Australians to buy Bitcoin without exchange fees. The exchange doesn’t hold your crypto, so you need a non-custodial wallet to trade on it. Note that you can only trade Bitcoin on HardBlock.
How to Select the Right Australian Crypto Exchange
Fees
Naturally, all crypto traders want to trade on exchanges with low costs. Many exchanges generate revenue from transaction fees and spreads. So, if the difference between the buying and selling price of cryptocurrencies on an exchange is too wide, then you might want to select another trading platform.
Security
If you want to trade crypto on a centralized exchange in Australia, then it is important to check the security measures adopted by the platform to keep your funds safe. Ensure that the selected exchange stores crypto in a cold wallet to prevent cybercriminals from accessing it. Also, check the data encryption method employed before sharing your confidential information.