Top Crypto Trading Platforms in Australia

In order to identify the premier crypto exchanges for Australian investors, our team has thoroughly examined more than 30 platforms using our proprietary assessment approach. Key factors in our evaluation process included Australian regulation and licensing, available crypto assets, user experience, AUD deposit methods, fees, and additional features. Based on our comprehensive analysis, we present the top five crypto trading platforms accessible to users in Australia.

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1. eToro

eToro is ranked as the top crypto platform in Australia, providing investors with access to a diverse range of assets, including cryptocurrencies, stocks, commodities, currencies, indices, and ETFs. The platform sets itself apart with cutting-edge social trading features, such as Copy Trading, and a Virtual Account that allows users to sharpen their skills with AUD 100K in demo funds.

eToro is particularly popular among Australian investors, thanks to its seamless and cost-effective Australian Dollar (AUD) deposit options through bank transfers, PayID, POLi Payments, Debit Card, and other widely used methods. Moreover, eToro boasts competitive fees, with no initial commissions and market-leading spreads on assets.

  • Fees: Free AUD deposits & withdrawals, zero trading fees and industry-leading spreads at 1%.
  • Supported Assets: 70 cryptocurrencies, 3000+ stocks, 18 indices, 27 commodities, 49 fiat currencies and 300 ETFs.
  • Regulation & Licensing: Regulated & Licensed by the ASIC.
  • Customer Support Options: 24/7 support via live chat, email & online ticketing system.
  • AUD Deposit Methods: Bank Transfer, Credit/Debit Card, PayID, POLi & more.
Best Crypto Exchange Australia - eToro

If you would like to learn more about this exchange, you can visit our detailed eToro Review.

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2. CoinSpot

CoinSpot is an Australian cryptocurrency exchange that allows users to trade over 360+ cryptocurrencies and stake 30 tokens. The platform is widely regarded to be the most secure exchange in Australia, as it is the only one to obtain the ISO27001 Standard Security Certificate. In addition to its security and supported assets, it's a feature-rich platform that offers a crypto card, NFTs and Bundles (Crypto ETFs).

  • Fees: Withdrawals and most deposit methods (there are fees via BPAY, Card & Cash) are completely free, and trading fees vary between 0.1% - 1%, depending on your method of order.
  • Supported Tokens: 365 Cryptocurrencies.
  • Regulation & Licensing: Regulated & Licensed by the AUSTRAC. 
  • Customer Support Options: 24/7 support via live chat, email & online ticketing system.
  • AUD Deposit Methods: Bank Transfer, Credit/Debit Card, POLi, PayID, BPAY, Osko & Cash Deposit.
CoinSpot Exchange.

If you would like to learn more about this exchange, you can visit our detailed CoinSpot Review.

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3. Bybit

Bybit is a cryptocurrency derivatives exchange that offers futures and perpetual contracts trading for popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple. It is headquartered in Singapore and has operations in several countries around the world. Bybit offers a user-friendly platform with advanced trading tools and features, as well as high liquidity and competitive fees.

  • Fees: Deposits and withdrawals are free and there are 0.1% fees on spot markets and the maker/taker rebate is 0.01%/0.06%.
  • Supported Assets: 400+ cryptocurrencies.
  • Regulation & Licensing: Not regulated by any government authority (hence no KYC requirements).
  • Customer Support Options: 24/7 support via live chat, email, ticketing system & phone.
  • AUD Deposit Methods: Credit Card, Debit Card, Bank Transfer, POLi, PayID & Google Pay.
Bybit Exchange.

If you would like to learn more about this exchange, you can visit our detailed Bybit Review.

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4. SwyftX

SwyftX is an Australian cryptocurrency exchange that offers a wide range of features to help users buy and sell digital currencies quickly and easily. With a user-friendly interface, competitive trading fees, and 24/7 customer support, SwyftX has become one of the most popular crypto exchanges in Australia. In addition to trading, users can also stake over 20 cryptocurrencies through the platform.

  • Fees: Deposits and withdrawals are free and trading fees are a flat 0.6%.
  • Supported Assets: 310+ cryptocurrencies.
  • Regulation & Licensing: Regulated and Licensed by AUSTRAC.
  • Customer Support Options: 24/7 support via live chat, email & online ticketing system.
  • AUD Deposit Methods: Bank Transfer, Credit/Debit Card, POLi & PayID.
SwyftX Exchange.

If you would like to learn more about this exchange, you can visit our detailed SwyftX Review.

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5. Uphold

Uphold is a multi-asset investing platform that allows users to buy, hold, and sell a variety of assets, including fiat currencies, cryptocurrencies, and precious metals. It is headquartered in the United States and has operations in several countries around the world, including Australia. It is regulated by several financial authorities, including the Australian Securities and Investments Commission (ASIC).

  • Fees: Free deposits on all methods except card, which is subject to a 2.49% fee. Crypto trading fees vary between 0.8% - 1.2%.
  • Supported Assets: 210 cryptocurrencies, 40 shares, 4 precious metals and 27 fiat currencies.
  • Regulation & Licensing: Regulated and Licensed by the ASIC.
  • Customer Support Options: 24/7 support via live chat and email.
  • AUD Deposit Methods: Bank Transfer, Credit/Debit Card, Google Pay & Apple Pay.
Uphold Exchange.

If you would like to learn more about this exchange, you can visit our detailed Uphold Review.

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Is Crypto Legal in Australia?

Cryptocurrency is legal in Australia. The Australian government has implemented regulations to prevent money laundering and terrorist financing through the use of digital currencies. These regulations require digital currency exchanges to register with the Australian Transactions and Reporting Analysis Centre (AUSTRAC) and comply with certain record-keeping and reporting obligations. Individuals and businesses are also able to use cryptocurrencies for transactions, and are subject to taxes on any capital gains from buying and selling of cryptocurrencies.

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How is Crypto Taxed in Australia?

Crypto is taxed in Australia by the Australian Taxation Office (ATO). The ATO considers crypto as property and subject to capital gains tax (CGT) rules. This means any gains or losses from selling or exchanging crypto must be reported and may incur CGT. Business use of crypto is taxed as part of business income or expenses. Accurate record keeping is required for tax purposes.

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How to Buy Crypto in Australia

If you're interested in acquiring Bitcoin or other cryptocurrencies in Australia, here's a comprehensive, step-by-step guide for a secure and legal purchase:

  1. Choose a platform: Select an exchange regulated by ASIC or AUSTRAC.
  2. Account setup: Register with your email, create a strong password, and finish the KYC process.
  3. Deposit AUD: Use EFT, online banking, bank transfers, PayID, Osko or cards to fund your account.
  4. Buy crypto: Select your preferred cryptocurrency, specify the amount, and confirm.
  5. Asset security: Transfer your crypto assets to a secure wallet for increased safety.

By following these steps and using a trustworthy, regulated platform, you can safely and efficiently purchase cryptocurrencies in Australia.

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Bottom Line

In conclusion, Australia offers a safe, regulated environment for cryptocurrency investments, courtesy of ASIC and AUSTRAC's vigilant oversight. Investors have an array of methods for depositing AUD into reliable crypto exchanges like eToro, CoinSpot, Bybit, SwyftX, and Uphold. Each platform is unique, offering various features, assets, fees, and deposit methods.

Crypto is legal and taxed in Australia, aligning with capital gains tax rules. For those interested in crypto investment, it's crucial to use a secure, regulated exchange, ensure the safety of your personal data, and conduct thorough research before diving into the world of digital assets.