7 Best Crypto Exchanges in Australia

List of Top Crypto Trading Platforms in Australia

How FXEmpire Chose the Best Crypto Platforms in Australia?

• Licensing & Regulation: We prioritized exchanges registered with AUSTRAC and compliant with ASIC guidelines, as legal exchanges under Australian law provide better consumer protection and more reliable operations.
• AUD Deposit and Withdrawal Option: We evaluated the supported fiat payment options, especially local methods like Bank Transfer, PayID, and Osko. We also searched for platforms that offer quick, low-cost AUD deposits and withdrawals.
• Security & Transparency: We looked for platforms that provide cold storage, two-factor authentication (2FA), anti-phishing codes, and transparent Proof of Reserves. Strong security and clear disclosures are essential for protecting user funds.
• Trading Tools & Interface: We reviewed the overall user experience across desktop and mobile platforms, focusing on intuitive navigation, charting tools, and advanced order types. Platforms that provide dedicated Lite Modes for beginners also rated highly in our ranking.
• Low Fees: We compared maker/taker fees, fiat transfer fees, spreads, and other additional fees. Exchanges with low fees and transparent structures are more affordable and prevent unexpected charges.
• Liquidity: We examined order book depth, daily trading volume, and open interest on each platform. Higher liquidity ensures smooth order execution with minimal slippage, even during volatile periods.
• Customer Support: We evaluated each platform’s customer service by examining their response speed and quality, especially for AUD-related issues.
• Tax Reporting Tools: We favored exchanges that offer downloadable reports or integrate with tax tools to make it easier for Australian users to report Capital Gains Tax.

Best Crypto Exchanges in Australia Comparison Table

How to Choose the Best Crypto Exchange for Australian Traders?

What Is the Current State of Cryptocurrency Regulation in Australia?

Australia regulates crypto through two main agencies:

• AUSTRAC requires all digital currency exchange providers to register and comply with AML/CTF rules, including KYC, transaction monitoring, and suspicious activity reporting.
• ASIC oversees crypto-assets classified as financial products. Companies offering related services may need an Australian Financial Services (AFS) license.

In October 2023, the Treasury proposed a new framework requiring digital asset platforms holding over A$1,500 per user or A$5 million to obtain an AFS license. The rules cover custody, operational integrity, and consumer protection.

ASIC also updated guidance on crypto custody, stressing strong security and compliance with financial laws.

How Do I Choose a Safe and Compliant Crypto Exchange in Australia?

If you are looking for a safe crypto exchange in Australia, we recommend checking for the following features:

• AUSTRAC Registration: Ensure the exchange is listed on the official AUSTRAC website.
• Security Measures: Look for 2FA, cold storage, and withdrawal or IP whitelists.
• Transparency: Choose exchanges that publish real-time Proof of Reserves and conduct regular third-party security audits.
• Track Record: Avoid platforms with a history of repeated security breaches.
• AUD Support: Ensure the exchange supports payment methods like bank transfer, Osko, RTGS, debit card, NPP, or PayID.
• Insurance Coverage: Protects your crypto and fiat assets in case of a breach.
• Responsive Customer Support: Reliable support is essential if you encounter platform issues.

What Australian Dollar (AUD) Payment Methods are Commonly Accepted on Crypto Exchanges?

Is P2P Trading Available in Australia for Buying Crypto?

Peer-to-peer (P2P) crypto trading is legal in Australia on regulated platforms like Binance. These platforms offer features like escrow and merchant verification for added safety.

Users should still verify trading partners and use built-in security tools. Some Australian banks may restrict crypto-related transactions, including P2P trades, so it is best to check your bank’s policy to avoid account issues. P2P trading is allowed, but caution and awareness of banking rules are essential.

How Is Cryptocurrency Taxed in Australia And What Are Your Reporting Obligations?

In Australia, the Australian Taxation Office (ATO) treats cryptocurrency as property, not currency. This classification means that most crypto transactions are subject to Capital Gains Tax (CGT) or Income Tax, depending on how the asset is used. CGT applies when you dispose of crypto by selling it for AUD, swapping it for another coin, spending it on goods or services, or even gifting it. If the asset was held for over 12 months, you may qualify for a 50% CGT discount.

On the other hand, Income Tax applies when you earn crypto through activities like mining, staking, earning DeFi interest, or operating a crypto business. These earnings are taxed at your regular income tax rate. To stay compliant, keep accurate records of all transactions and report them in your annual tax return. The ATO uses advanced data-matching to track unreported crypto activity and has begun collecting exchange data from over a million accounts.

What Fees and Costs Should Australian Traders Be Aware of When Choosing a Crypto Exchange?

When choosing a crypto exchange in Australia, you will need to consider the following common fees:

• Trading Fees: Maker and taker fees charged for placing or matching orders.
• Interest or Funding Fees: Applied when margin trading or maintaining futures positions.
• Spread Fees: Often hidden in Quick Buy/Sell options, where exchange rates may be less favorable.
• Deposit and Withdrawal Fees: For both crypto and AUD transactions.
• Inactivity Fees: Charged by some platforms if your account remains unused for a long period.
• Currency Conversion Fees: Applied when trading non-AUD pairs, though some platforms offer zero-fee promotions or discounts.

What Should New Australian Traders Know Before Starting To Trade Cryptocurrencies?

Here are some practical tips we recommend if you are new to crypto trading:

• Start with demo trading and move to real trades only after consistently seeing profits.
• Invest only what you can afford to lose, as crypto is highly volatile.
• Always enable 2FA and consider using a hardware wallet for storing large amounts.
• Understand your tax obligations; crypto is taxable in Australia, so keep trade records.
• Learn basic chart reading and risk management to avoid emotional decisions.

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