Crypto trading can be seen as a hot trend in Australia due to its benefits, such as low transaction costs, high returns, anonymity, and more.
But before you jump into the crypto market, you need to find a reliable and trustworthy crypto exchange to buy and sell your cryptos.
Currently, there are many crypto trading platforms in Australia, but not all of them are created equal. Some have higher fees, lower security, fewer features, or poor customer service.
In this article, we have researched and compiled a list of the best crypto exchanges in Australia based on various criteria, such as their reputation, trading fees, number of supported cryptos, and more.
Key Insights:
- A detailed comparison and review of Australian crypto exchanges.
- Understanding types of crypto exchanges and how to buy crypto in Australia.
- An overview of taxes on digital assets in Australia.
List of Best Crypto Exchanges Australia in 2024
Here is the list of best crypto trading platforms for bitcoin and altcoins in Australia:
- Bybit: Best Leverage Trading Crypto Exchange in Australia
- Swyftx: Overall Best Crypto Exchange Australia
- CoinSpot: AUSTRAC Regulated Crypto Exchange
- Coinjar: AML Complying Crypto Exchange in Australia
- Luno: Top Australian Crypto Exchange and App
- eToro: Australia’s Leading Social Trading Platform
- Binance: Largest Crypto Trading Platform in Australia
- Kucoin: High-Volume Crypto App in Australia
- Cointree: Best Australia’s Bitcoin Trading Platform
- Crypto.com: Low-Fees Crypto Exchange Australia
- Phemex: No-KYC Australian Crypto Exchange
1. Bybit: Best Leverage Trading Crypto Exchange in Australia
- Supported Cryptocurrencies: 389+
- Trading Fees: 0.1% for both maker and taker
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: PayID and POLi
Bybit is one of the most popular exchanges in Australia for derivatives and future contracts with a leverage of up to 100x. You can also buy and sell unique digital artworks called NFTs on its marketplace. It has over 10 million users and offers a fast, cheap, friendly, easy-to-use platform.
If you are in Australia, You can use your credit or debit card to buy coins with Simplex using AUD. It also supports borrowing and lending services that allow you to borrow money to increase your trading volume.
Bybit also gives you many benefits and offers, such as gifts, free coins, contests, referrals, learning materials, and more.
Pros and Cons of Bybit
Pros:
- Advanced trading features such as margin, leverage, and diverse order types
- User-friendly interface
- Strong security, including 2FA, cold storage, and encrypted data.
- High liquidity with Quick trade execution
Cons
- Potential regulatory uncertainty
- Not all payment methods are supported
2. Swyftx: Overall Best Crypto Exchange Australia
- Supported Cryptocurrencies: 310+
- Trading Fees: 0.6% for both maker and taker
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: PayID, Poli, Bank Transfers, and Debit cards
Swyftx is a crypto exchange based in Brisbane, Australia. It lets users buy, sell, and trade more than 310 crypto coins with low costs and small price differences. It also has a demo mode for users to practice their skills and learn the market without risking their money.
The platform has a security certificate (ISO 27001) and a strong safety system to protect users’ assets and funds. It also gives local support through live chat and learning resources through Swyftx Learn.
This exchange has over 660,000 customers and a 4.7/5 rating on Trustpilot. Swyftx says it is one of Australia’s most trusted crypto exchanges and has an official deal with AUD withdrawals and deposits.
(Register your new Swyftx account via the link below to grab $20 free Bitcoin)
Pros and Cons of Swyftx
Pros:
- Competitive fees among other platforms
- Quick and simple AUD transfer
- Wide range of coins with good liquidity
- Australian-based and helpful support team
- Practice mode to learn and test the market
Cons:
- Few payment options
- Fairly new and untested in the market
- No derivatives trading or margin trading features
3. Coinspot: AUSTRAC Regulated Crypto Exchange
- Supported Cryptocurrencies: 390+
- Trading Fees: 0.1% for both maker and taker
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: PayID, Poli, Crypto, and Debit cards
CoinSpot is a popular and oldest crypto exchange in Australia since 2013. It has a wide range of digital assets with more than 380 altcoins that users can buy, sell & swap with the lowest fees of 0.1%. You can also trade NFTs and OTC markets.
It has an easy and friendly interface that helps users to deposit Australian dollars (AUD), trade crypto, and find what they want. CoinSpot has a large community of 2.5 million happy customers with 25,000+ positive reviews.
CoinSpot is very secure and has the best security certification in Australia. It is also certified with Blockchain Australia and Sci Qual. You can also use two-factor authentication and anti-phishing codes to protect your accounts more.
(Register your new Coinspot account via the link below to grab $10 free Bitcoin)
Pros and Cons of Coinspot
Pros:
- User-friendly platform
- Low trading fees
- Wide range of supported assets
- High regulatory compliance
Cons:
- Lacks advanced trading features
- Delays reported in withdrawals
- ID verification is required for trading
4. Coinjar: AML Complying Crypto Exchange in Australia
- Supported Cryptocurrencies: 50+
- Trading Fees: 0.02%-0.1% both maker and taker
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: Mastercard, Google Pay, Apple Pay, Osko, etc.
Coinjar is Australia’s longest-running cryptocurrency exchange which was founded in 2013. It lets users buy, sell, send, and spend over 50 cryptos, like Bitcoin, Ethereum, Ripple, Cardano, and Solana. Users can start with $10 or more and pay with a bank or card.
Coinjar also has many products and services for Australian crypto investors, such as Coinjar bundles to invest in many assets at once with ready-made bundles and Coinjar Card, which allows you to spend your crypto like cash anywhere that accepts EFTPOS.
It also supports staking and earning. You can hold crypto and earn rewards with up to 10% APY. It claims to have the fastest trading engine and zero price slippage.
Coinjar is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). It also complies with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
Pros and Cons of Coinjar
Pros:
- 90% of customer assets are stored offline in cold storage or in multi-sig wallets
- Many products and services for different crypto need
- Easy and quick AUD payments
- Support team available 7 days a week
Cons:
- Support Australian and UK markets only
- Limited number of supported coins
- High trading and transaction fees
5. Luno: Top Australian Cryptocurrency Exchange and App
- Supported Cryptocurrencies: 25+ trading pairs
- Trading Fees: 2% for trading and 3.5% for instant buy
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: PayiD and Bank Transfer
Luno works in more than 40 countries, including Australia, and you can use different types of fiat currencies, such as AUD, GBP, EUR, and INR. It offers BTC future contracts with up to 20x leverage.
It also keeps your money and data safe with the best security methods, such as encryption, cold storage, multi-signature wallets, and proof of reserves.
You can use the Dollar cost averaging (DCA) feature for automated investing on a pre-decided schedule. The platform is easy to use and has a lot of helpful information and support.
Pros and Cons of Luno
Pros:
- Secure and easy way to buy, sell, store, and trade
- Educational resources to help users learn about cryptocurrencies
- Low minimum deposit of $10
- Mobile app for Android and iOS
Cons:
- Limited number of supported cryptocurrencies
- Not regulated by Australian authorities
6. eToro: Australia’s Leading Social Trading Platform
- Supported Cryptocurrencies: 60+
- Trading Fees: 1% for buying or selling crypto
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: Paypal, Visa, Mastercard, Skrill, etc.
eToro is an online platform where you can buy various asset classes, including digital assets. It has more than 25 million users in over 140 countries.
You can also join other traders and copy their trading strategies with the social trading features.
The platform also supports demo trading with $100,000 in a free virtual portfolio. You can set your risk level with stop loss and take profit options.
eToro follows the rules of the Australian Securities and Investments Commission (ASIC) and has the Australian Financial Services Licence (AFSL). It follows the laws about money laundering, terrorism financing, and privacy.
Pros and Cons of eToro
Pros:
- ASIC-regulated and safe.
- No commission on stocks and ETFs, and low fees on crypto.
- Many payment methods, such as a bank, card, Paypal, etc.
- Social trading tools, like CopyTrade and Smart Portfolios.
- Easy-to-use platform with charts, tools, and apps.
Cons:
- KYC is needed, which may bother some users.
- Poor customer service and slow replies.
- $5 withdrawal fee per transaction.
7. Binance: Largest Cryptocurrency Exchange in Australia
- Supported Cryptocurrencies: 350+
- Trading Fees: 0.1% for both maker and taker
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: Bank, P2P, and Credit/Debit cards
Binance is a high trading volume exchange where you can buy, sell, and store more than 350 kinds of digital coins, such as BTC, ETH, DOGE, XRP, and Binance Coin (BNB). It also has features like Binance Earn, Binance NFT marketplace, Binance Pay, and Launchpad.
The platform has been working in Australia for a long time as InvestbyBit Pty Ltd (also known as “Binance Australia”). This company is registered with AUSTRAC. Binance Australia lets you exchange money between digital coins and Australian dollars as well as earn interest on your cryptos.
But in April 2023, ASIC, the Australian regulator, took away the derivative license of Binance. It said that Binance did not follow the rules and conditions of the license.
Binance said this exchange is trying to fix the problem with ASIC and would keep serving its Australian customers through its global website.
Pros and Cons of Binance
Pros:
- High trading volume and liquidity
- Many crypto and financial services, such as futures trading, staking, lending, etc.
- Low fees of 0.1% or less, which can be lowered more by using BNB
- Over 350 coins and 500+ trading pairs
Cons:
- Lost its AFSL after buying Oztures Trading
- Several security and legal issues in the past
- AUD bank transfers are no longer available
Related Article: Beginner Tutorial to Open a Binance Account and Start Trading
8. Kucoin: High-Volume Crypto App in Australia
- Supported Cryptocurrencies: 700+
- Trading Fees: 0.08-0.1% for both maker and taker (20% off with KCS)
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: P2P, Credit and Debit cards
Kucoin is a worldwide platform for experienced traders. You can trade over 700+ cryptos, such as Bitcoin, Ethereum, etc. It is the best place to find new coins and the leader supporting Web 3.0. The exchange has a big and lively social trading network where users can chat with other crypto traders and copy their trading strategies.
Kucoin has also partnered with Bitcoin Australia to grow its global presence and offer more options to Australian users. It accepts over 50 types of fiat money through its P2P market and credit/debit card options.
The platform has more than 20 global groups and reaches more than 200 countries. It also offers a user-friendly mobile app. The app has all features, including margin trading, leverage market, trading bots, and spot trading for instant buying.
(Register your new Kucoin account via the link below to grab the limited-time offer)
Pros and Cons of Kucoin
Pros:
- Wide range of low market cap altcoins
- Professional trading dashboard with tradingview integration
- Future trading with 125x leverage
- Competitive platform fees for deposits and withdrawals
Cons:
- Lower liquidity for some altcoins
- Lack of regulation
- Cloud mining feature is not profitable
9. Cointree: Best Australia’s Bitcoin Trading Platform
- Supported digital currencies: 240+
- Trading Fees: 0.9% for buy and sell, 0.25 coin-to-coin trades
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: PayiD, Mobile Online Banking, and Cash Deposits
Cointree is one of Australia’s easiest and most user-friendly crypto exchanges that lets users buy, sell and trade more than 240 cryptos. It started in 2013 and has helped many Australians to get into and grow their assets with crypto.
It has a simple and clear interface, low trading fees of 0.9%, and many payment options with AUD.
Cointree is regulated by the Australian Government’s AUSTRAC Digital Currency Exchange Register. It has an effective compliance program that keeps users’ accounts and funds safe and secure.
Users can find information about sectors such as web3, oracles, decentralized finance, and more. Users can also get the latest news and updates on the crypto world from Cointree’s blog. Cointree serves different kinds of customers, such as personal, SMSF, advisors, and institutional.
Pros and Cons of Cointree
Pros:
- Many supported cryptos, low fees, and a free wallet
- No bank fees, POLi, and PayID accepted
- AUSTRAC regulated
Cons:
- Aussies only have less global support and liquidity.
- No margins or derivatives, fewer options for advanced traders
- High minimum deposit (AUD $20)
10. Crypto.com: Low-Fess Crypto Exchange in Australia
- Supported digital currencies: 250+
- Trading Fees: 0.05-0.075% for both maker and taker orders
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: Yes
- Payment methods: Bank Transfer and Credit/Debit cards
Crypto.com has many services, such as buying, selling, trading, earning, staking, lending, borrowing, paying, and investing in crypto. It also has a Crypto.com Visa card that lets users spend their digital assets anywhere Visa works and get up to 8% cashback.
Crypto.com offers two different platforms: the app and the exchange. The app is for beginners and makes it easy to buy and sell crypto with a card or deposit AUD with PayID and bank transfer. The app also lets users earn up to 14.5% p.a. on their crypto, stake CRO (the Crypto.com token) to get more benefits, and pay with crypto using Crypto.com Pay.
The exchange is for traders and has low fees, from 0.05% to 0.075%, depending on how much you trade and stake CRO. Users can also use DeFi features like DeFi Swap, DeFi Earn, and DeFi Wallet. Crypto.com also has an NFT marketplace.
Pros and cons of crypto.com
Pros:
- Competitive trading fees and rates
- Supports many cryptos and fiats
- User-friendly and secure app and website
- Crypto Debit card
Cons:
- Not AUSTRAC-registered or compliant
- Limited customer support
- May not support some banks or payments
Related Article: 3 Best Ways To Earn Passive Income with Crypto.com Coin (CRO)
11. Phemex: No-KYC Australian Crypto Exchange
- Supported digital currencies: 272+
- Trading Fees: 0.1% for both maker and taker orders
- Is it Solvent: Yes
- AUD Deposits and Withdrawals: No
- Payment method: 3rd party service providers only
Phemex is a crypto-to-crypto trading exchange where you can stake and earn crypto. It was started in 2019 by some former bankers, and it is speedy and safe for contract trading.
The platform lets you trade crypto without showing your ID, which is ideal for people who care about privacy and want a no-KYC exchange for crypto. But if you can show your ID for the KYC process, you can get more rewards and use AUD fiat money to buy crypto. KYC is mandatory for withdrawals.
Phemex is offering more than 272 trading pairs on its spot market. You can use P2P or bank transfer with your own money to buy crypto quickly. It also has 151 contract pairs that you can trade on its derivatives market. You can easily trade crypto with up to 100x leverage and copy other traders.
The exchange also has different ways to make money with crypto, such as putting your crypto in the launchpool for high returns, putting your crypto in the savings accounts for daily or weekly interest, and betting on the prediction markets for real-world events.
Pros and Cons of Phemex
Pros:
- Secure exchange and derivatives platform
- Advanced trading tools for Australian investors
- Wide range of trading pairs on spot and contract markets
- Zero-fee spot exchange with no commissions or fees
- User-friendly interface and mobile app
Cons:
- Unregulated and unlicensed in Australia
- No AUD deposits or withdrawals
Related Article: 10 Best No KYC Crypto Exchanges You Need to Know
Types of Crypto Exchanges in Australia
Crypto users in Australia can choose from different platforms to trade crypto. Some of them are:
1. Centralized Crypto Exchange (CEXs)
These are intermediaries that help users buy and sell crypto. They have many services like trading, storing, changing money, borrowing and lending, etc. They also have millions of users and funds, but one of the core problems of this type of exchange is building the users’ trust with their funds and data.
Some CEXs in Australia are Binance, Kucoin, Bybit, Crypto.com, etc.
2. Decentralized Crypto Exchange (DEXs)
DEXs let users trade crypto with each other without any middlemen. They use a network or a code (smart contracts) that make the trades happen. This gives users more privacy, security, and control over their funds. However, with some new trading pairs, DEX may have low trading volume and liquidity, high costs, and slower trades, leading to a negative user trading experience.
Some popular DEXs in Australia are Uniswap, PancakeSwap, and SushiSwap.
Related Article: Uniswap vs. Pancakeswap
3. P2P Trading Platform Australia
They connect users who want to buy and sell crypto directly without any middlemen. They let users pick their own payment methods, prices, and rules. It gives users more freedom, privacy, and choice. But this may have more risks of cheating, scamming, and disputes.
The top Peer-to-peer platforms in Australia are LocalBitcoins and Paxful.
4. Brokers in Australia
These platforms let users trade crypto at a fixed price set by the platform. They make it easy and fast to get into the crypto market, but they may charge more fees and markups than other platforms.
Some cheapest brokers in Australia are CoinSpot, CoinJar, Coinstash, etc.
Criteria for Choosing the Best Crypto Exchange in Australia
1. Reputation
Look for an exchange with a solid reputation and positive reviews from users. Research their history and ensure they have a track record of reliable and secure operations. You can read reviews on Trustpilot or the Play Store to check existing user feedback.
2. Security
Prioritize exchanges that prioritize security measures, such as two-factor authentication (2FA), cold storage for funds, and encryption protocols. This helps safeguard your digital assets from potential hacks or theft.
Also, research if the exchange undergoes regular solvency audits conducted by reputable third-party firms. These audits provide independent assessments of an exchange’s financial standing and solvency.
You can check solvency audits or PoR data using Defillama.
3. User-Friendliness
Opt for an exchange with a user-friendly interface, making it easy for beginners to navigate and execute trades. A straightforward platform enhances the overall trading experience. You can check that the features of exchange are visible in their navigation menu. Also, test technical issues by clicking on buttons, menus, etc.
4. Supported Cryptocurrencies
Check if the exchange supports a wide range of cryptocurrencies, including all narratives like NFTs, Metaverse, dApps, yield farming, AI, ERC-20 Tokens, BSC coins, etc. More coins mean diversification. A good crypto exchange should have at least 200+ trading pairs, including all popular coins and tokens like BTC, ETH, SOL, ADA, etc.
You can check the number of supported coins on crypto exchanges by using data from Coinmarketcap.
5. Liquidity and Volume
Ensure that the crypto exchange has sufficient liquidity. A 500+ liquidity score from CMC is considered to be a high-volume exchange. This means that there are enough buyers and sellers on the platform. High liquidity minimizes the risk of price manipulation and ensures you can easily buy or sell your desired cryptocurrencies.
6. Platform Fees
Compare the fees charged by different exchanges. Look for transparent fee structures, including trading fees, deposit/withdrawal fees, and any other applicable charges. Lower fees can significantly impact your overall profits.
7. Customer Support
Reliable customer support is essential when you encounter any issues or have questions. Choose a crypto exchange with responsive customer service channels, such as live chat, email, or phone support.
8. Regulatory Compliance
Verify if the exchange complies with relevant regulations in Australia. This ensures they operate within legal frameworks and provides a level of protection for users.
9. Payment Methods
Check the available payment options supported by the exchange. Look for exchanges that offer convenient methods, such as bank transfers, credit/debit cards, or digital wallets, to facilitate easy deposits and withdrawals.
How to buy Cryptocurrency in Australia?
- Pick a platform to trade or invest in crypto: You can buy and sell digital currencies with different exchanges in our list, such as Swyftx, Coinjar, Binance, eToro, CoinSpot, and Kucoin. However, before picking one, you should compare the exchange’s features, fees, security, and customer support.
- Set up and verify your account: You will need to provide some personal information and identity verification documents to set up an account on a crypto platform. This is to comply with the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation in Australia.
- Fund your account with AUD: Use various payment methods to fund your account, such as bank transfer, PayiD, credit card, or debit card. Some platforms may charge a fee for deposits or withdrawals, so check their terms and conditions before making a transaction.
- Buy your preferred cryptocurrency: You can use the platform’s interface to search for the digital currency you want to buy, such as Bitcoin, Ethereum, Solana, or others. You can either enter the amount of AUD you want to spend or the amount of crypto you want to receive. Then, you can place your order and confirm the transaction.
- Choose a storage method: You will need a wallet address to store your digital currency. A wallet address is a string of numbers and letters that represents your digital asset. Some platforms provide a wallet address when you buy crypto from them, but you can also choose to use your own wallet. There are different wallets, such as online, software, and hardware wallets. Hardware wallets are most popular for anonymous cold storage.
Tax on Crypto Assets in Australia
If you have crypto assets in Australia, you need to know how they are taxed. The tax treatment depends on what you do with your digital assets. The main tax types are:
- Capital gains tax (CGT): This tax applies when you profit from trading your crypto assets. You have to report the net gain or loss in your tax return and pay tax on it. You may not have to pay CGT if you keep the crypto asset for more than a year before selling it.
- Income tax: When you get crypto assets as income, such as from staking, airdrops, interest, mining, or rewards. You have to report the crypto asset’s value in Australian dollars as ordinary income and pay tax according to your income bracket.
- Personal use asset exemption: This applies when you use crypto assets mainly for personal reasons, such as buying goods or services.
Risks of Using Cryptocurrency Exchanges in Australia
- Operational Risks: Crypto exchanges can be cheated, attacked online, broken into, or insolvent. They can also have trouble following the anti-money laundering rules. If this happens, you might lose your funds or your personal information.
- Regulatory Risk: Some digital currency exchanges are not regulated by the Australian Prudential Regulation Authority (APRA). This means you have less help and options if something goes wrong with the exchange or asset.
- Currency conversion risks: Some crypto exchanges use fiat from other countries, like US dollars. This means you may have to pay extra costs or lose some money when you change your Australian dollars to use or return from the exchange.
Comparison between Best Australian Crypto Exchanges and Apps
The following table presents a comparison of various crypto exchanges operating in Australia, emphasizing key factors such as the supported coins, the trading fees, and the regulatory environment.
| Supported Coins | Trading Fees | AUSTRAC Regulated | Australia Available | |
|---|---|---|---|---|
| 1. Bybit | 389+ | 0.1% | No | Yes |
| 2. Swyftx | 310+ | 0.6% | Yes | Yes |
| 3. CoinSpot | 390+ | 0.1% | Yes | Yes |
| 4. Coinjar | 50+ | 0.06%-0.1% | Yes | Yes |
| 5. Luno | 11+ | 2% | Yes | Yes |
| 6. eToro | 60+ | 1% | Yes | Yes |
| 7. Binance | 350+ | 0.1% | No | Yes |
| 8. Kucoin | 700+ | 0.08-0.1% | No | Yes |
| 9. Cointree | 240+ | 0.25-0.19% | Yes | Yes |
| 10. Crypto.com | 250+ | 0.05-0.075% | No | Yes |
| 11. Phemex | 272+ | 0.1% | No | Yes |
Reviewing the Best Crypto Exchanges in Australia (2023)
What makes a good and safest crypto exchange in Australia? There are many things to consider, but we’ve narrowed it down to four: a good selection of coins, minimal trading fees, multiple payment options, and strong regulation.
You’ll find that in our list of crypto platforms and apps. We’ve reviewed each one carefully and rated them based on these criteria.
Find out more about the top Australian crypto exchanges in our comprehensive revi
Final Thoughts: Which Crypto Exchange in Australia is Better?
To sum up, the best crypto exchange in Australia for you will vary depending on your goals and preferences. When choosing an exchange, you might want to consider factors such as fees, security, coin selection, trading options, or earning potential.
Some of Australia’s top-rated and trusted exchanges are Swyftx, CoinSpot, Binance, Bybit, Crypto.com, and Coinjar.
However, you should always do your own research and compare different alternatives before choosing. Remember that crypto trading is quite risky, and you should only invest what you can afford to lose.
Best Crypto Exchange in Australia FAQs:
What is the best crypto exchange in Australia?
There is no clear-cut answer to this question, as different crypto exchanges may cater to different needs and preferences.
Based on our methodology and choosing criteria, some of the best crypto exchanges in Australia are Swyftx for AUSTRAC Registered, Coinspot for AML complying, Binance for high volume and low fees, and Kucoin for a large selection of coins.
Are Crypto Exchanges Legal in Australia?
Yes, crypto exchanges are legal in Australia as long as they comply with the relevant laws and regulations. The Australian Transaction Reports and Analysis Centre (AUSTRAC) is the main regulator for crypto exchanges in Australia. It oversees anti-money laundering and counter-terrorism financing (AML/CTF) rules.
Cryptocurrency exchanges that operate in Australia must register with AUSTRAC and follow its reporting and record-keeping obligations.
Can the Australian government track your crypto on Exchanges?
The tracking depends on the information that the exchanges provide to the authorities. As mentioned above, crypto exchanges must register with AUSTRAC. This means that they must collect and verify the identity of their customers.
Also, some crypto transactions may not involve exchanges at all, such as peer-to-peer transfers or transactions on decentralized platforms.
What is the best mobile app to buy cryptocurrency in Australia?
There are many crypto apps in Australia, but some of the most trusted and popular ones are:
- Bybit: A global leader in crypto trading with low fees, fiat deposits, and a lot of educational content.
- CoinSpot: An Aussie exchange with over 300 coins and instant purchases.
- Swyftx: Another Australian exchange with competitive fees and a $20 free Bitcoin referral program.
Which is the Safest Crypto Exchange in Australia?
The safest cryptocurrency exchanges in Australia are those which are 100% solvent (1:1 backed), store user funds in cold wallets, encrypt APIs, have high privacy, and comply with the regulations. These criteria show that Swyftx and eToro are the safest crypto exchanges.
