Top Crypto Trading Apps in Australia

Our ranking methodology identifies and sorts the top digital asset applications for Australian investors based on several factors. We scrutinise each platform's supported cryptocurrencies, AUD payment methods, UI, fees, and security. Our team also checks adherence to regulations from AUSTRAC and ASIC. Following this rigorous assessment, we present the top five cryptocurrency exchanges in Australia.

1. eToro

eToro is the best cryptocurrency exchange in Australia, offering a seamless trading experience for over 30 million investors worldwide. The platform offers free and instant AUD deposits via POLi, bank transfers, and other methods to trade an extensive selection of over 3,000 assets across multiple categories, including crypto, stocks, ETFs, commodities, indices, and currencies. 

As an ASIC and AUSTRAC-licensed platform, eToro ensures a safe and regulated environment for investors. Its user-friendly interface, a wide range of assets, and innovative features, such as social trading, Copy Trading, Copy Portfolios, virtual trading platform, and mobile app, make it the ideal choice for Australian traders and investors who want to diversify their portfolios.

  • Fees: Free deposits, withdrawals are $5, and there’s a 1% trading fee when you buy or sell crypto.
  • ID Requirements: Full AML/KYC to onboard a personal or company account.
  • Trade Limits: $100,000 AUD deposits per day (unless you complete extra verification).
  • Deposit Methods: Bank Transfer, POLi, Osko, Debit Card, Credit Card, and PayPal.
  • Supported Assets: 70+ Cryptocurrencies & 3,000+ other assets.

To learn more about this digital asset exchange and its services, visit our detailed eToro Review.

2. Kraken

Kraken is the preferred platform for institutional investors in Australia. It offers features tailored for large-scale investments, such as its high liquidity, which ensures smooth transactions, even for bulk trades, while its extensive crypto asset roster provides diversity in investment strategies. It also takes security and regulation seriously and is licensed by both AUSTRAC and ASIC. 

Added layers like comprehensive market analytics and a dedicated institutional support team mean large entities can navigate the crypto waters with unparalleled clarity and assistance. Its platform is built to handle substantial volumes, making it an excellent choice for large-scale investors. Kraken also provides an OTC Desk for orders above $100,000.

  • Fees: Free deposits and withdrawals plus a 0.9% trading fee on stable coins and a 1.5% fee on all other cryptocurrencies.
  • ID Requirements: Full AML/KYC to onboard a personal or company account.
  • Trade Limits: $25,000 AUD/Day.
  • Deposit Methods: PayID & Bank Transfer.
  • Supported Assets: 250+ Cryptocurrencies.

To learn more about this digital asset exchange and its services, visit our detailed Kraken Review.

3. CoinSpot

CoinSpot is the largest Australian cryptocurrency exchange, boasting over 2 million users nationwide. The platform offers an exceptionally user-friendly experience and provides a wide range of features and services. For those keen on maximising their crypto earnings through staking, CoinSpot is the top choice. CoinSpot is dedicated to providing an intuitive staking platform that allows users to earn dividends on their crypto holdings. 

By offering support for multiple stakable coins and presenting clear information about staking rewards, CoinSpot ensures that both newcomers and seasoned crypto enthusiasts can benefit from the potential passive income of staking with minimal hassle. There are over 30 options available with potential yields of up to 78%.

  • Fees: Some deposits are free, and others range up to 2.58%. There’s a flat 0.1% for marker orders, while instant buy orders incur a 1% fee per transaction.
  • ID Requirements: Full AML/KYC to onboard a personal or company account.
  • Trade Limits: $10,000 AUD/Day.
  • Deposit Methods: PayID, Osko, Bank Transfers, POLi, Cash and Card.
  • Supported Assets: 400+ Cryptocurrencies.

To learn more about this digital asset exchange and its services, visit our detailed CoinSpot Review.

4. SwyftX

Founded in 2017, SwyftX is the new kid on the block that has quickly become a favourite amongst crypto investors in Australia. They provide a very similar platform to CoinSpot with slightly lower fees at 0.6% on their instant buy feature. SwyftX is the go-to platform for beginners in Australia. 

Boasting an intuitive interface, educational resources, and responsive customer support, SwyftX ensures that novices feel at home. Features like easy-to-understand charts, straightforward fee structures, and a mobile app designed for on-the-go trading make SwyftX an undeniable favorite among those new to the crypto realm.

  • Fees: Deposits range between 0.5% - 2.8%, and the trading fee is 0.6%.
  • ID Requirements: Full AML/KYC to onboard a personal or company account.
  • Trade Limits: $50,000 AUD/Day.
  • Deposit Methods: Credit & Debit Card, Bank Transfer, POLi, and PayID.
  • Supported Assets: 300+ Cryptocurrencies.

To learn more about this digital asset exchange and its services, visit our detailed SwyftX review.

5. Independent Reserve

Independent Reserve shines in its commitment to providing Australians with diverse and convenient AUD deposit methods. Recognising the need for seamless fiat-to-crypto transitions, this platform has worked extensively to incorporate multiple deposit options, ensuring that every Aussie finds a method that aligns with their preference. 

It also offers a highly liquid order book style trading platform, which provides a similar experience to traditional stock trading like Commsec. Independent Reserve is the best solution for investors looking to buy over $25,000 AUD worth of Bitcoin or any other crypto asset listed on the exchange. They offer low fees starting at 0.5% and deep liquidity on their order book, which means you can fill large orders without any price impact.

  • Fees: Deposits are free and withdrawals have a small fee. Trading fees range from 0.02% - 0.5% depending on your 30-day volume. 
  • ID Requirements: Full AML/KYC to onboard a personal or company account.
  • Trade Limits:$20,000 AUD/Day. 
  • Deposit Methods: Bank Transfer, PayID, POLi, PayPal, Osko, Credit Card, Debit Card and SWIFT.
  • Supported Assets: 30+ Cryptocurrencies.
Independent Reserve

To learn more about this digital asset exchange and its services, visit our detailed Independent Reserve Review.


Centralised vs Decentralised Exchanges

The best cryptocurrency exchanges in Australia listed above are classified as 'centralised exchanges’. These platforms operate as legitimate businesses in Australia and are regulated by relevant authorities, such as AUSTRAC or ASIC.

Decentralised exchanges (DEX) are unregulated trading platforms built on Layer 1 smart contract networks like Ethereum, Avalanche, or Solana. These exchanges can present certain risks, as they are governed by code and smart contracts controlled by a small group of anonymous developers. Many DEXs are gaining popularity for offering significant liquidity and low trading fees, benefiting Australian investors. Notable among these decentralised trading platforms are:

  • Uniswap: An Ethereum-based exchange known for its pioneering role in automated liquidity provision.
  • SushiSwap: A multi-chain platform that builds on Uniswap's foundation and introduces additional features like yield farming.
  • Trader Joe: A prominent exchange on the Avalanche network, offering fast, low-cost transactions.
  • SpookySwap: A Fantom and Avalanche-based platform that boasts high-speed and scalable financial infrastructure.

For beginners embarking on their journey in the world of decentralised exchanges, Uniswap is often recommended as a starting point due to its safety, user-friendly interface, and extensive testing and development. Its status as one of the most popular and trusted DEXs makes it an ideal choice for those new to the sector.

Is Cryptocurrency Legal in Australia?

Cryptocurrency in Australia has a recognised legal status, and the country has established a comprehensive regulatory framework to oversee its use and trade. The Australian Securities and Investments Commission (ASIC) provides guidelines for businesses engaged in the digital currency space, particularly for Initial Coin Offerings (ICOs) and crypto-assets. 

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has also set up regulations that mandate digital currency exchange providers to be registered and adhere to anti-money laundering (AML) and counter-terrorism financing (CTF) rules. The Australian government has also implemented regulations for cryptocurrency exchanges to require KYC from customers.

Do I have to Pay Tax on Crypto?

For taxation purposes, the Australian Taxation Office (ATO) views cryptocurrency not as money or foreign currency but as property. This means that any capital gains made from the sale or disposal of cryptocurrency are subject to capital gains tax. It's worth noting that while cryptocurrency itself is legal, Australian officials are vigilant about its use in illegal activities and continuously monitor and adjust regulations to ensure both the growth and integrity of the crypto market in Australia.


To summarise, Australians investing in cryptocurrencies should use AUSTRAC-licensed exchanges that comply with local KYC regulations. Our expert team has identified the top five Australian crypto exchanges, considering factors like security, fees, available cryptocurrencies, deposit options, and user experience.

These leading exchanges include eToro Australia, Kraken, CoinSpot, SwyftX and Independent Reserve. These AUSTRAC-registered platforms offer investors a secure environment to deposit AUD and engage in digital asset trading, ensuring a trustworthy and compliant experience.