Summary
Australia maintains a progressive stance on cryptocurrency trading and exchanges. The Australian Securities and Investments Commission (ASIC) and AUSTRAC provide regulatory oversight for crypto operations. The Australian Dollar (AUD) is widely supported across major crypto exchanges, with bank transfers and credit card payments being the primary deposit methods. For secure and compliant cryptocurrency trading in Here are the best crypto exchanges in Australia:
Best Crypto Exchanges in Australia
Australian cryptocurrency traders benefit from a well-regulated market with multiple exchange options supporting AUD deposits and withdrawals. The leading platforms offer direct bank transfers through PayID and NPP systems, providing near-instant deposits for Australian users. This analysis examines the top crypto exchanges available to Australian traders, focusing on security features, supported currencies, and compliance with local regulations.
1. Bitget
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Over 800 cryptos
- Fair trading fees
- Great for EUR SEPA transfers
- 24/7 customer support
- Very beginner friendly
Cons
- Not available in the US
- No TWAP order supported
- Mandatory KYC for new accounts
Overview
Bitget is a true powerhouse for crypto traders from over 100 supported countries. What makes Bitget special is its beginner-friendly trading platform, which has over 800 supported cryptocurrencies. With so many supported cryptocurrencies, if you are looking to trade altcoins, Bitget might be one of your best shots.
With fiat support for 6 currencies, including EUR and RUB, Bitget is a top choice, especially for European users looking to deposit and withdraw funds in their native currency with ease. The 0% fee for SEPA transactions makes Bitget stand out. Credit card payments are also supported.
Experienced crypto traders can trade futures contracts on Bitget with 125x leverage on selected assets such as Bitcoin or Ethereum.
The spot trading fees start at 0.1% for makers and takers, which is very common in the industry. For futures traders seeking leverage for their day trading activities, Bitget charges very low fees of 0.02% maker and 0.06% taker.
2. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
300x
Spot Fees:
0.05%
Futures Fees:
0.01%/0.04%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 300x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 300x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
3. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
4. KuCoin
Users:
30m
Free Demo:
Mobile App:
Bonus
$10,500
Cryptos:
800+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Beginner friendly
- 800+ supported crypto assets
- 125x leverage and deep liquidity
- 20+ fiat currencies
- Great 24/7 customer support
Cons
- Lacks advanced features
- Not the best liquidity
- Regulatory issues in the US
- Variable spot fees
Overview
Kucoin focuses on offering the best spot trading experience. With over 800 supported cryptos on the spot market, Kucoin is one of the most versatile crypto exchanges when it comes to supported assets. You can trade popular cryptos such as Bitcoin or Ethereum but also less-known cryptos and even meme coins. If you are on the hunt for new and shiny coins that are not popular yet, Kucoin might be your best shop.
Spot fees on Kucoin are relatively average, ranging from 0.1% to 0.32% based on the liquidity of the asset. Futures trading on Kucoin starts at a maker fee of 0.02% and a taker fee of 0.06%.
Kucoin has integrated and ready-to-use crypto grid trading bots to automate your income. You can set up grid bots based on several parameters to trade for you 24/7.
5. OKX
Users:
50m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
350+
Leverage:
100x
Spot Fees:
0.14%/0.1%
Futures Fees:
0.01%/0.06%
Pros
- Highly efficient trading platform
- 350+ assets
- Free demo trading
- Fiat supported
- 24/7 customer support
Cons
- Not available in the US
- Not beginner-friendly
- Limitations and restrictions in Europe
OXK Overview
OKX is the third largest crypto exchange sorted by daily derivatives volume. This is no surprise since OKX’s focus lies in offering a high-efficiency leverage trading experience. While the UI is not necessarily beginner-friendly, it is one of the fastest and most reliable platforms we have come across.
Over 300 coins are supported on OKXs spot market while 250 contracts are available for futures trading with up to 100x leverage. What makes OKX stand out is its extensive liquidity which are without a doubt at the top of the game.
With low futures fees starting at 0.02% maker and 0.05% taker, OKX ensures a cost efficient derivatives trading environment. Spot trading fees however are on the more expensive side starting at 0.14% for makers and 0.23% for takers.
You can easily deposit funds using your credit/debit card. Additionally, you can deposit and withdraw fiat using your personal bank account, making OKX a reliable platform for on- and off-ramp funds.
Is Crypto Legal and Regulated in Australia?
Cryptocurrency trading is legal in Australia under the oversight of the Australian Securities and Investments Commission (ASIC). Since 2017, cryptocurrencies and exchanges have operated within a defined regulatory framework. Digital currency exchange providers must register with AUSTRAC and implement strict AML/CTF compliance programs.
The Australian government classified cryptocurrencies as property in 2019, providing clear legal status for digital assets. Exchanges must comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, requiring customer verification and transaction monitoring. AUSTRAC maintains active supervision of cryptocurrency exchanges to ensure compliance with these regulations.
Is Crypto Taxable in Australia?
The Australian Taxation Office (ATO) treats cryptocurrency as a capital gains tax (CGT) asset. Capital gains tax applies when you sell, trade, gift, or exchange cryptocurrencies. The tax rate depends on your holding period and income bracket. Assets held for more than 12 months qualify for a 50% CGT discount.
Traders must maintain detailed records of all cryptocurrency transactions, including dates, values in AUD, and the purpose of each transaction. The ATO requires reporting of crypto-to-crypto trades, as these are considered disposal events. Mining rewards and staking income are taxed as ordinary income at your marginal tax rate.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Australia.
How to Buy Crypto in Australia
Australian residents can purchase cryptocurrencies through regulated exchanges using AUD. Bitget offers a comprehensive platform for Australian users with competitive fees and extensive AUD trading pairs.
- Select a crypto exchange: Confirm which platforms support AUD, review payment options like PayID or NPP, and understand their KYC policies.
- Create an account: Register on the platform and provide the necessary identification documents to successfully complete the required verification process.
- Fund your account: Add AUD to your account by utilizing instant PayID transfers or bank transfers via the National Payments Platform (NPP).
- Select your cryptocurrency: Decide on the digital asset you wish to trade, such as Bitcoin, Ethereum, or any other cryptocurrency offered on the platform.
- Execute a trade: Choose between placing a market order or a limit order based on your desired price and overall trading strategy.
- Secure your funds: Safeguard your cryptocurrency by transferring it to a trusted personal wallet designed for long-term storage and additional security.
Best Crypto Wallets in Australia
Australian cryptocurrency users can choose from a variety of secure wallet options. Hardware wallets like Ledger and Trezor offer top-tier security, keeping assets safe offline for long-term storage. Active traders may prefer software wallets such as MetaMask, which provide seamless access to DeFi platforms.
Mobile wallets, including Trust Wallet and Exodus, support a wide range of cryptocurrencies and feature built-in exchange tools for easy transactions. These wallets integrate smoothly with Australian exchanges for quick transfers and offer recovery phrase backups. Depending on your trading needs and security preferences, using a combination of wallet types might be the ideal solution.
Bottom Line
For Australian cryptocurrency traders seeking reliable platforms, Bitget and MEXC stand out as the best crypto exchanges in Australia. These platforms offer comprehensive AUD support, competitive fees, and adherence to local regulations. Their integration with Australian payment systems and strong security measures make them optimal choices for both new and experienced traders.
