Trading with crypto has become one of the most lucrative and popular trades around the world. The popularity and expansion of crypto trading have led to an enormous amount of crypto coins and exchange platforms offering different conveniences. This is why choosing the right crypto exchange is one of the most important things in crypto trading. Here are the best crypto exchanges in Australia in June 2022:

• eToro - Overall, the best crypto exchange,

• Coinbase - Best for beginners,

• Capital - Has no trading fees,

• Binance Australia - Best for experienced investors,

• Independent Reserve - The largest exchange in Australia,

• Digital Surge - Low fees and fast account verification.

How to Choose the Best Exchange to Trade Crypto?

There are several things you need to look for when choosing the best crypto exchange. First, you need to know what kind of exchange you want to trade on. There are decentralized, centralized, and hybrid exchanges. Decentralized exchanges, or DEX, are not governed by any company, and everything is regulated automatically through blockchain, including fees. Even though DEX is a safer option to trade, it doesn't offer fiat to crypto exchange which means you can only trade one crypto coin for another. Also, trade volume is low on DEX.

When talking about crypto exchanges, most people refer to centralized exchanges or CEX. CEX are governed by the company or brokers, which act as intermediaries between sellers and buyers. They charge commission and transaction fees for the services they do. CEX is the most popular type of exchange, and they offer fiat to crypto trading. Also, on CEX, you can buy a fraction of a crypto coin for the amount of fiat currency you desire.

What Are the Best Crypto Exchanges in Australia?

One of the key features people look for when choosing the exchange is how high the fees are and what kind of payment methods and currencies the platform supports. However, there are other things to consider when picking the right exchange for you. One of those things is what features the platform offers, how many currencies it supports, and whether it has any other useful features such as demo accounts, educational support, and tools.

The quality of the platform's interface is also extremely important. If the platform is not user-friendly and easily navigated, inexperienced traders can easily make mistakes and lose money. It's also important for the exchange to be available in your country, or you won't be able to participate in the crypto trade legally. Now that we have gone over all the basics let's take a look at some of the best crypto exchanges in Australia.

The Overall Best Exchange Platform Is eToro

According to business2community, the best crypto exchange in Australia is eToro. The platform is globally popular with the amazing desktop platform and mobile app. It has some of the lowest fees in the market. The eToro supports over 50 coins and doesn't charge any fees for deposits and withdrawals. It has excellent educational data for users and paper accounts (demo accounts) where you can practice trading before investing real money. Here are some of the top characteristics of eToro:

• Allows short sellings and day trading,

• Trading fees: 1%,

• Free deposits and withdrawals are made with credit/debit cards and bank transfers.

Coinbase - Best for beginners

Even if you have never traded with crypto, you probably heard about the Coinbase exchange. It is one of the most popular platforms among beginners. It has a user-friendly interface, and it is extremely easy to navigate. But the platform has some of the highest fees on the market and a bit limited selection of cryptocurrencies. Here are the most important characteristics of Coinbase:

• Fees - $0.99 + 0.5%,

• It has cold storage,

• It allows the instant purchase of crypto coins

Capital - Has No Trading Fees

Capital doesn't only offer crypto trading but stocks, ETFs, commodities, forex, and more, all for zero trading fees. So if you are interested in investing not only in crypto, you can try out Capital. The platform is licensed by the Australian Securities and Investments Commission (ASIC), which means trading on this platform will provide you with extra security and safety. Here are other features Capital offers:

• Supports 100+ coins,

• Free deposits and withdrawals,

• Zero trading fees,

• An excellent mobile app,

• Dedicated agent to help you invest.

Binance Australia - Best for Experienced Investors

A Binance crypto exchange is the largest in the world and offers more than 600 currencies. The platform has a native utility token BNB that provides a discount on trading fees as well as discounts for long-term holders of the coin. Binance is excellent for experienced investors who are looking to trade on a larger scale. It offers Binance Visa Cards, and it has many platforms for different usages, such as Binance Earn, a crypto staking platform, and many more. Here are some of the best characteristics Binance has to offer:

• Supports a large number of fiat currencies (50+),

• It supports a vast number of cryptocurrencies,

• There are no crypto deposit fees,

• Withdrawal fees range from 0% to 2,5%,

• Allows lower fees if you use the native token.

Independent Reserve - The Largest Exchange in Australia

Independent Reserve is probably the largest platform in Australia, and it is registered with the Australian Digital Commerce Association (ADCA). On this platform, all users have 100% full insurance for their crypto assets. It has excellent learning tools you can use or even apply to investment strategies automatically using the AutoTrader feature. The only downside of this platform is that it has high trading fees of 0.6%, plus a 0.41% spread. Take a look at other characteristics of this exchange:

• 39 supported cryptocurrencies,

• Auto trader and library access,

• Cold storage,

• Fiat deposits and withdrawals are free (AUD, USD, NZD, SGD).

Digital Surge - Low Fees and Fast Account Verification

This platform supports over 300 currencies and offers cold storage for its users. It supports dollar-cost averaging and stop-limit orders, which offer traders more flexibility. And even though verification is fast, it doesn't mean it is not secured. Digital Surge has Two-Factor Authentication (2FA). When it comes to fees, they depend on the trading volume and can vary from 0.5% to 1%. The minimal fiat deposit is $2 with zero fees. The only downside is that this platform doesn't support crypto staking. Take a look at other features this platform offers:

• Recurring buy orders,

• AUSTRAC and ASIC regulated,

• Price alerts.

Before You Choose, Learn More About Other Things You Need to Know

As we mentioned before, CEX exchanges charge certain fees for the services they provide. There are transaction fees, commission fees, and network fees you will be charged. And all of these fees are different on different platforms. Transaction fees are charged when you buy or sell currency as well as when you make a deposit or withdrawal. A network fee is a gas fee charged for mining the coin. If you are new to crypto trading and wish to invest a minimal amount of money, it would be good to find the exchange with the lowest fees.

Another thing to consider is what kind of payment methods the exchange offers. Because depositing money from credit and debit cards is not the same as bank wire transfers, bank wire transfers are usually free. Also, you need to see what fees are charged when you deposit in AUD or whether this is possible. Most platforms offer bank wire transfers, credit or debit cards, and digital wallet transfers (PayPal, Apple Pay).

No matter which platform you choose, it is important not to make high-risk investments, and you will be fine. In the end, if the platform you have chosen doesn't suit your needs, you can always switch to another one.