Best International Cryptocurrency Exchanges for Australia 2022
The crypto market has experienced a significant boom in the last decade or so. With talk of Bitcoin becoming even more popular, you may want to become an investor yourself. Investing in cryptocurrency may be a fantastic addition to your investment portfolio and a new method to increase your profits.
With this in mind, it’s not hard to grasp why cryptocurrency exchanges have become popular marketplaces these days. Moreover, to address the increased demand for their services, most of these platforms have expanded globally.
If you still haven’t found the right platform for you, in this guide, we’ll take a look at the most important factors that should influence your decision and review ten trustworthy international exchanges that you can choose from.
And if you’re looking for a local trading platform, we’ve built a great comparison of the best crypto exchanges in Australia.
Best Crypto Exchanges for 2022
1. Coinbase Exchange
Coinbase is one of the most popular cryptocurrency trading exchanges, particularly among traders in the United States. Apart from the US, the exchange serves around 57 million crypto traders in over 100 countries around the world.
Coinbase offers a variety of services, the most important of which is the ability to sell and buy Bitcoin through a bank account, credit card or debit card. The rates on Coinbase are generally reasonable, but the customer service could be improved. Coinbase is also completely integrated with PayPal and accepts the following fiat currencies: US Dollar (USD), Euro (EUR), and British Pound (GBP).
The main service the exchange provides is seamless cryptocurrency trading for both retail and institutional traders, with the Coinbase Pro platform catering specifically to proficient traders and investors.
On the downside, one of the most common complaints users have about Coinbase is the lack of control they have over their funds. When you open a Coinbase account, you do not get direct access to your cryptocurrencies, nor do you receive a private key or a seed phrase. Instead, Coinbase manages its users’ private keys, securing their funds with a password, device confirmation and two-factor authentication.
2. Binance Exchange
Binance is a major cryptocurrency exchange that offers a trading platform for a variety of cryptos and a native token called Binance Coin (BNB) that users can use to receive a discount on the trading fees. The cryptocurrency exchange has grown in popularity among crypto traders and enthusiasts by providing some of the most affordable trading rates in the world.
The platform has over 15 million users and provides assistance in a variety of languages, including Korean, English, Chinese, Spanish, Japanese, Russian, and French. Over time, the exchange has become compliant with established laws and regulatory guidelines, thereby solidifying its reputation for legitimizing cryptos as an asset class. Overall, Binance stays up to date with all major industry advances and the latest financial solutions.
Binance is especially appealing due to its vast list of supported digital currencies and trading pairs, which includes industry standards like Bitcoin and Ethereum, as well as smaller and micro-cap tokens.
Finally, Binance has a well-structured layout that caters to the demands of all types of customers. As a result, even before you begin trading on Binance, you may select between an advanced and a simple interface. While the latter is designed for beginners to make their initial purchases, the sophisticated crypto trading platform offers a wide range of options like margin trading, OTC, P2P services, and futures.
3. Kraken Exchange
Kraken is one of the industry’s biggest and most established cryptocurrency exchanges. Launched in 2011, this San Francisco-based crypto exchange provides an advanced cryptocurrency trading platform with margin trading and an over-the-counter (OTC) desk.
Kraken is very serious about its level of security and ranks first on the cryptocurrency exchanges safety review site CER. Noticeably, Kraken has had no major hacking incidents, something that not even an industry giant like Binance can take pride in.
Kraken is a trading platform that allows users to purchase, sell, and trade cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Cardano (ADA) among many others. The platform supports around 50 cryptocurrencies and tokens, as well as seven fiat currencies (USD, EUR, GBP, AUD, CHF, CAD, and JPY) for deposits and withdrawals to and from bank accounts.
Another significant advantage is that Kraken offers some of the industry’s lowest rates. The exchange employs a standard maker-taker fee schedule, with trading fees ranging from 0.0% to 0.16% for makers and 0.10% to 0.26% for takers.
4. Bittrex Exchange
Bittrex Global is the creation of three cybersecurity engineers, Bill Shihara, Richi Lai, and Rami Kawach, who established the exchange in 2014. Before Bittrex, all of them worked for major corporations such as Amazon, Microsoft, and BlackBerry.
Bittrex rebranded as an international platform in 2018, available everywhere except for North Korea, the Crimea region, Syria, Iran, and Cuba. The exchange is licensed and adheres to Maltese and European Union legal regimes. Moreover, in terms of security, it offers two-factor authentication (2FA) to all users, IP address whitelisting, and DDoS protection.
Bittrex is another altcoin platform on our list with a wide range of assets. At first, you were only able to execute crypto-to-crypto trades, but as part of the rebranding process, Bittrex added support for USD deposits and withdrawals, accepting Visa and MasterCard. You’ll also be delighted to learn that the platform charges affordable fees of no more than 0.2% for both makers and takers.
Country: Hong Kong
5. Bitfinex Exchange
Bitfinex is a global cryptocurrency exchange that is extremely popular among traders. The platform frequently reaches high daily trading volumes and is best suited to more experienced traders because of its sophisticated trading tools.
Giancarlo Devansini and Raphael Nicolle, the platform’s founders, created the exchange in the British Virgin Islands in 2012. It is now headquartered in Hong Kong and led by CEO JL Van Der Velde. In 2020, the firm’s net worth was valued at more than $800 million, and 2021 saw a 300% increase in new clients in just the first three months.
The cryptocurrency exchange has developed to become one of the biggest crypto platforms in the world, with offices in the United Kingdom, Europe, Japan, and beyond.
Even though the platform caters to more advanced traders, it has a user-friendly interface with easily navigable dashboards and menus. OTC trading, margin trading, limit market orders, stop-loss, peer-to-peer financing, and charting tools, are some of the advanced trading features it offers.
6. Gemini Exchange
Gemini was launched in 2014 and was originally developed for advanced Bitcoin investors living in the United States. Nonetheless, a few years after its initial launch, the company extended its reach across 50 regions around the globe.
Due to its outstanding exchange rates for BTC, LTC, BCH, ETH, and ZCASH, as well as the fact that it allows users to deposit US Dollars or Euros directly via bank or wire transfers, the platform is a great alternative for beginners. Credit and debit cards, on the other hand, are not currently supported except for USD deposits.
Regarding fees, Gemini is not the most affordable crypto exchange, but its fee structure is well-organized and straightforward. You will be charged a trading fee of 1.49% for transactions under $200 and 0.50% for transactions over $200.
In terms of security, Gemini offers a secure infrastructure and a high level of compliance. The great majority of their digital currencies are kept in an air-gapped, offline cold storage system. Only a tiny part of company and user funds are safely kept in their online hot wallet.
7. Coinmama Exchange
Coinmama, which was founded in 2013 as a cryptocurrency brokerage in Tel Aviv, Israel, claims to have more than 2.6 million users across 188 countries. Users can purchase popular cryptocurrencies, including Bitcoin, Ethereum, and Cardano, and sell Bitcoin for fiat currency such as USD, GBP, and EUR.
Coinmama is well-known for its diverse payment options that include buying cryptocurrencies with Visa or Mastercard credit cards. Moreover, Coinmama reached an agreement with Apple in September 2020 to enable the use of Apple Pay for crypto purchases.
Coinmama requires a mandatory KYC if you want to use its services. This means completing a thorough verification process and submitting a copy of your ID. This could be a driving license, passport, or another form of government-issued identification. A utility bill is often required as well.
Purchasing crypto on Coinmama is a simple process. Just choose how much fiat or crypto you want to spend and the platform will provide you with a quote for that purchase. Fees are calculated as a percentage of the spot price set by Coinmama. When using SEPA bank transfers, their commission can get as high as 3.9%. If you pay with a credit card, they will charge you a 5% “momentum fee.”
8. CEX.io Exchange
CEX.io is a legitimate platform, supported by a trusted system and user account safety, secure fund storage, financial viability, and extensive compliance with the law. Since its founding in 2013, it has been a credible and secure cryptocurrency exchange, with no reports of hacked accounts or stolen funds.
CEX.io is a famous exchange for instant BTC purchases via its site or app, both of which are accessible on iOS and Android devices. CEX.io is regarded as one of the best platforms due to its support for a range of payment methods such as bank transfers, credit cards, debit cards, and Skrill among many.
The exchange was created to serve people all over the world by offering an easy-to-use platform for users to convert fiat money into cryptocurrencies. It is ideal for both novice and experienced investors, and it provides a wide range of products and trading tools for the most popular digital currencies, including BTC, BCH, ETH, XRP, LTC, XLM and many others.
The CEX.io fee structure is based on the 30-day trading volume and employs a taker and maker approach. Traders that add liquidity to the order book and have a monthly trade volume of more than 6,000 BTC will pay no fees to purchase or sell crypto.
Fees: Daily Fees
9. eToro Exchange
While eToro is a top cryptocurrency exchange in the field of CFDs and cryptocurrency trading, the firm now provides much more. For almost a decade, they’ve been at the forefront of the fintech revolution, earning a reputation as the world’s premier social trading platform.
To keep up with shifting markets and expanding demands, the exchange began as a general trading platform and has now incorporated cryptocurrencies and other trading products. By introducing CopyTrading and CopyPortfolios, they became one of the first brokers to incorporate social aspects into their platform.
In comparison with other more crypto-focused platforms, eToro has a restricted number of supported cryptocurrencies. Even so, the most prominent cryptocurrencies such as BTC, ETH, Bitcoin Cash (BCH), LTC, and ETC are all provided by the exchange.
Moreover, users of eToro receive $100,000 in “virtual money” accounts when they register, which allows them to practice tactics and develop their trading abilities before investing real money. It also includes a variety of other features, such as an economic calendar, to assist them with the actual trading. Simply enter the desired dates and time zone, as well as your target assets and the calendar will show you which events are likely to affect your assets.
Country: Czech Republic
10. Changelly Exchange
Changelly is part of the decentralized exchanges group (DEXs). DEXs are different from all of the crypto exchanges we’ve described above in that they don’t act as an intermediary between sellers and buyers. They don’t provide any storage services and do not influence the purchasing and selling procedure.
Unlike most other platforms, the exchange only requires your email address to create an account but you don’t have to go through any KYC procedures. It also serves as a fiat-to-crypto exchange that allows you to buy crypto with a bank card and provides a way for European users to sell cryptocurrency through SEPA.
Changelly’s key feature is its easy-to-use instant exchange feature, which lets customers convert between a large number of cryptos in under 30 minutes. This exchange feature can be accessed through a specialized Changelly mobile app that is accessible for Android and iOS devices, or from virtually any device with an internet browser.
Users can also take advantage of the frequently asked questions (FAQ) section and the platform’s blog that provides insightful information about the way in which the crypto exchange works, its trading features, and the crypto market in general. Those that require more immediate support can contact live chat support 24 hours a day, seven days a week, and receive a reply within minutes.
How to Choose the Best Cryptocurrency Exchange
The amazing variety of crypto exchanges these days is what makes the selection process so challenging. However, the requirements outlined below will assist you in determining how to select the best cryptocurrency exchange for you.
Perform research to determine whether the platform you’re looking at is credible and secure. The trustworthiness and security of a platform will assist you in determining whether your funds are secure with cryptocurrency exchanges. Scam platforms have cost traders billions of dollars. As a result, make sure to check the platform’s track record as well as the diverse security procedures in place to protect your data and investments.
You should also learn about the exchange’s transaction fees, taking into account your trading styles. For example, if you want to make daily transactions, you might want to select an exchange with low fees per transaction. If you want to purchase crypto with a credit/debit card, you should look for a platform that has low deposit pricing, etc.
- User experience
This is a critical criterion for your accomplishment as a crypto trader or investor. An exchange with a simple user interface and a positive user experience makes it very easy to trade crypto. Nevertheless, user experience is subjective, and different people prefer different interfaces. Moreover, make sure that the crypto exchange provides customer support and other client services. The more easily accessible the platform is, the better.
- Supported coins
Bitcoin and Ethereum are supported by almost all cryptocurrency exchanges. However, there are thousands of crypto assets, and some investors want to diversify their portfolios beyond BTC and ETH. As a result, before joining any cryptocurrency exchange, make sure it supports the coins you’re after.
Frequently Asked Questions
Crypto.com is one of the safest cryptocurrency exchanges, with bank-like security features. For starters, they’ve partnered with Ledger, one of the most reputable names in the crypto wallet industry. As a result of this collaboration, all customer assets on Crypto.com are kept offline in cold storage, preventing exchange hacks.
In addition, the exchange has purchased cold storage insurance worth 360 million dollars that protects users’ funds from physical damage, destruction, and third-party fraud. In Australia, the insurance is covered by the Financial Claims Scheme. As a result, Crypto.com is one of the safest places to buy cryptocurrency in Australia.
This is a topic of discussion between cryptocurrency enthusiasts. On the one hand, Bitcoin is the most widely used currency, with the largest level of liquidity and a more consistent price history. Also, this digital asset is generally recognized as a payment method by shops all around the world. As a result, many specialists advise investors to be safe and invest in Bitcoin.
On the other hand, today’s climate has produced a variety of promising altcoins. The majority of them try to fix some of Bitcoin’s flaws, such as scalability and transaction throughput. Decentralized finance tokens, the latest development in the financial business, make up a significant category of cryptocurrencies. We advise you to invest in altcoins too, as long as you are well-informed about the asset’s purpose and don’t pay more than you could afford to lose.
You can purchase, sell, and trade Bitcoin on all of the platforms listed here, as this is the most famous and sought-after cryptocurrency. However, if we had to pick one platform, it would probably be Coinbase. This international exchange has very high liquidity, which means you can place even larger BTC orders, and features a beginner-friendly interface. If you’re a seasoned trader, you can switch over to Coinbase Pro, which includes more complex tools and graphic market indicators.
Binance is one of the exchanges that enjoys the highest liquidity. Binance launched Liquid Swap in September 2020, a liquidity pool platform that allows customers to participate in crypto-financial products with DeFi features while still enjoying the ease, safety, and high liquidity of the world’s leading crypto exchange. Binance Liquid Swap allows you to immediately exchange tokens from liquidity pools and receive incentives.
About The Author
This page was last updated on March 23, 2022