5 Best Crypto OTC Trading Platforms in Australia 2023

EToro is a user-friendly online broker with more than 17 million investors using the platform to trade. The provider hosts a great range of asset classes – both in the traditional form and CFDs. Regarding the former, this includes more than 2,400 stocks from 17 marketplaces. Here’s an overview of the best trading platform Australia as well as some other top platforms that are worth considering. Online trading is getting more and more popular in Australia, with a plethora of platforms now allowing you to buy and sell assets at the click of a button. Use our interactive tool to find your perfect trading platform, whether you want to trade shares, forex, ETFs and crypto or anything else.

• Despite the limited choice, I also noticed a handful of other promising altcoins like EOS, XLM, BAT, GNT, REP, OMG, 0x, and PLA.
• The exchange acts as an intermediary between buyers and sellers, providing a platform for them to exchange one cryptocurrency for another, or to buy and sell cryptocurrencies using fiat currency.
• Binance Australia lets you exchange money between digital coins and Australian dollars as well as earn interest on your cryptos.
• By making them available to consumers, the project is revolutionizing the system.

In manual trading, the platform will provide you with information and data on the current market and will also notify you of any changes in the market but here the end decision is of the user. In automated trading, Quantum AI trading robot will be the one that would do the trading in your place. Along with advanced strategy technology, Quantum AI also has a time leap feature which helps the software to stay 0.01 seconds ahead of the market.

Why do some Australian crypto exchanges ask me to verify my identity?

To participate in the presale, connect your DeFi wallet to the yPredict website and exchange tokens for YPRED. The best cryptocurrencies are projects that bring something different to the market. In essence, Bitcoin BSC introduces a novel cryptocurrency investment avenue with the potential to replicate the success of Bitcoin. Bitcoin BSC is an innovative BEP-20 token derived from Bitcoin and built on the Binance Smart Chain. This project enables cryptocurrency investors to acquire a token linked to Bitcoin’s legacy at the original launch price of $0.99 back in 2011. This guide aims to provide general information about the best crypto to buy and how to trade cryptocurrencies.

• EToro is a broker offering many trading instruments, including cryptocurrency.
• Users can benefit from the proximity of the company’s headquarters and enjoy better customer service.
• In addition to its massive list of crypto, Binance has futures trading and also margin trading to use up to 100x leverage.
• As a day trader, you will analyze patterns and spot trading opportunities with the help of several charting and analysis tools.

For additional convenience, you can add the card to your Google Pay or Apple Pay, so you can pay using your crypto on your phone, without needing to carry the physical card. EToro is a broker offering many trading instruments, including cryptocurrency. It is convenient and easy to use, and features a wide range of 250+ coins which can be easily bought or sold at the click of a button, without having to deal with confusing graphs or markets. The fees are all included in the spread, so whatever price you see for the coins is what you will pay, with no additional commission. MEXC is the best option for advanced cryptocurrency traders who value low fees, deep liquidity and a massive range of trading pairs.

How We Picked These Exchanges

To rate and rank the exchanges we review, we look at (and test) factors like ease of use, fees, trading features, and support. Keep in mind that we didn’t review every single exchange available, and depending on your situation, the exchange you prefer might be different from the ones we picked. ByBit knows how to create a perfect atmosphere for professional traders. It features a sophisticated spot market with over 300 crypto-to-crypto trading pairs. They also offer multiple types of future and perpetual contracts with up to 100x leverage and an insurance fund. To quickly compare the best cryptocurrency exchanges in Australia I’ve collated all the information into a simple table below.

The trading fees reflected for each brokerage or crypto exchange are the trading fees for the lowest trade volume, using the most basic version of the platform. However, if you’re looking to upgrade from your current exchange, BitFinex is an excellent option, especially if you’re seeking margin trading with a more substantial liquidity pool. With BitFinex, you’ll have access to a broad range of trading options that are designed to meet the needs of advanced traders. For customers requiring advanced technical analysis, Coinbase offers an Advanced Trade product with additional security features.

Pros and Cons of Using a Crypto Exchange

In simple terms, this means that the trading platform will charge you a daily fee when you keep a position open overnight. Once again, this is payable at both ends of the trade – much like traditional share dealing fees. It is important to check whether the trading platform has a minimum commission in place. You might also come across trading platforms in Australia that are not regulated by ASIC, but another tier-one body like the FCA. This is perfectly fine, but you must ensure that the regulator is reputable.

Cryptocurrency investing has become increasingly popular in recent years, coinciding with cryptocurrency prices. As a result, more platforms emerge that allow users to trade cryptocurrencies easily. Additionally, the general public has become more aware of the benefits cryptocurrencies offer, making them a more attractive investment best crypto day trading course and a speculative asset. There are many reasons you should consider first buying crypto, which is discussed in detail below. With a market cap of $16.6 billion, Crypto.com’s CRO coin is ranked 12th on the list of digital coins. In addition, the company is entering the NFT market and offers margin trading derivatives.

Coinspot – Excellent Crypto Exchange With Lowest Fees In Australia

If you encounter any issues, you can easily contact customer support via Live Chat, where you can speak to a real person 24/7. If that is not enough, you can email Support to speak to specialised teams, and there is also a Help Centre with regular articles and tutorials to assist users. Experienced traders will love using Bybit for their advanced charts, technical tools, and trading options like margin trading, with up to 100x leverage.

• For new investors and beginners, the 0.02% trading fee is probably not within reach, and are cheaper alternatives available.
• These borrow-lending contracts are located in a separate area of the platform, where lenders compete for the best offers.
• If you know how to place market orders on an exchange, then you can get better value for money on the exchange where the fees are 0.1%.
• If you have a checklist of key metrics in place, like safety, tradable markets, payment, and of course – fees, choosing a provider won’t be difficult.

CoinJar is a reliable option for Australians seeking an OTC crypto broker. While less well-known than CoinSpot, CoinJar offers lower fees and is a safe choice. Although it offers fewer cryptocurrencies than other exchanges, with more than 50 of the most popular coins, it should be sufficient for most investors. Kraken charges zero fees for AUD withdrawals to Australian bank accounts, making it a secure and convenient platform for Australian users.

Etoro

In terms of fees, the pricing structure at Interactive Brokers can be a bit confusing at first glance. Not only will your commission depend on the asset you wish to trade, but also the account type you are on. With that said, Interactive Brokers does allow you to buy US-listed stocks and ETFs on a commission-free basis. Then you have the Copy Trader tool, which allows you to copy another eToro trade. You can choose from thousands of verified active traders and active investors based on their historical performance and preferred strategy. When it comes to the safety of your funds, eToro is authorized and regulated by ASIC.

• Currently working as the content lead for Australian startup CryptoTaxCalculator, Patrick has also covered the crypto industry for Canstar and The Chainsaw.
• Breakouts in the stock market refer to the price of an asset moving above a resistance level or dropping below a support level.
• This covers almost 10,000 stock CFDs from over 23 international exchanges.
• A downside is that eToro operates in USD, so you will need to pay a currency conversion fee when you deposit and withdraw.

Besides more than 250 currencies for spot trading, Crypto.com also supports a subset of these for staking. It is impossible to list all the currencies supported here, but you can expect – to be able to trade most of the most-traded currencies. CRO rewards significant shareholders with reduced trading fees, higher staking interest rates, and better credit card rewards.

Copy Trading

Crypto exchanges differ greatly in how they present their products and services to the user, and various layouts are best suited to traders with different skill levels. Some of them feature an uncluttered and intuitive user interface, which helps novices feel comfortable when making their first crypto transactions. Coinmama doesn’t have an advanced trading platform like Swyftx or Binance, yet I really appreciated the effort that went into purchasing my favourite coin as easily as possible. From the perspective of an Australian-based user, I really liked that the exchange accepts a range of payment methods such as EFT (bank transfer), Osko, SWIFT, PayID, POLi, etc.

• Independent Reserve is an extremely secure crypto exchange, and the only one in Australia to offer insurance on crypto assets, up to $5 million.
• Trading fees are slightly below the industry average and there are no deposit fees for crypto funding.
• The main benefit of using a decentralized exchange with no KYC is that the sign up process is very simple.
• It is well known for its simple and easy-to-use interface for buying and selling digital currencies with fiat money.

We have assessed and compared over 60 crypto exchanges and understand what makes a good and bad trading platform to buy and sell digital currencies such as Bitcoin. Our methodology is based on various factors that are important to Australians such as supported crypto assets, features and benefits, funding methods, trading fees, security, and customer support. In this article, we share our research and list the best cryptocurrency exchanges available to Australians. A crypto exchange is a platform that allows users to buy and sell cryptocurrencies.

Support centre

If you have profound knowledge of crypto trading, it’s definitely the right destination for your next trading venture. The massive amount of cryptocurrencies they support also goes in their favour. Another Coinbase feature that I personally appreciate is the variety of payment methods. Thus, you can choose to pay with a debit card for small investments, wire transfer for large investments, or bank account for either. On that account, I was fully aware of the fact that the platform may incur higher fees for its brokerage services. ByBit is a reliable partner for the thousands of traders who enjoy the thrill of speculating on perpetual swap futures and other crypto products that are among the most volatile on the market.

• Moreover, IR uses offline, multi-layer encryption for your funds and stores them in cold storage, i.e., offline digital hardware storage devices kept in secure vaults in different locations.
• The trading fees are 0.5%, and this reduces as you increase your trading volume.
• Libertex is one of the best exchanges for finding the best crypto to buy now if you are looking for a platform.
• If the world-class trading features and markets weren’t enough, you can perform your trades on its crisp and seamless mobile app.
• Obviously, it has been at the forefront of many great technological advancements including the CoinJar card (powered by Mastercard) that allows you to spend your crypto like cash.

While the investor can access the funds and make withdrawals, the exchange is the actual holder of the private keys. As exchanges can be hacked or compromised, transferring the crypto from the exchange to an external wallet is best. We’ve reviewed some of the best – crypto wallets for Australia to store your cryptocurrencies. Coinbase is one of the safest places to buy and store crypto assets that features industry-leading security measures to ensure customer funds and personal information are kept safe at all times.

Tapping Into Crypto

Be rewarded with crypto and other special offers by actioning certain tasks within the Swyftx platform. Diversify your cryptocurrency portfolio and purchase multiple assets with just one single trade. Your assets and funds are protected through multi-layer technology and advanced security frameworks.

• We’ve reviewed each one carefully and rated them based on these criteria.
• In the bargain, ByBit offers stellar security and some of the lowest trading fees, which further help you make the best out of your trading strategy.
• Kane has also written for websites such as MoneyCheck, InsideBitcoins, Blockonomi, Learnbonds, Buysharesand the Malta Association of Compliance Officers.

Moreover, those that are not interested in trading can deposit their crypto into a savings account to earn interest on crypto holdings. The rewards earned are typically greater than the interest offered in a bank account. There are a multitude of crypto exchanges that are available in Australia, with both Australian and international options.