Best Crypto Exchange Australia – 3 Cheap Bitcoin Exchanges

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In 2021, the price of Bitcoin reached an all-time high of AUD$96,550 per coin on Australian cryptocurrency exchanges. Bitcoin is now trading at a 50% discount after undergoing a sideways correction and consolidation in early 2022 – potentially making Bitcoin a good investment at this price, with a long-term horizon in mind.

Many financial analysts around the world, as well as Australian crypto traders, expect Bitcoin’s uptrend to continue into 2022 and towards the Bitcoin halving in 2024, eventually hitting price targets six figures, increasing the total market capitalization of the crypto. with all altcoins.

Bitcoin billionaires “the Winklevoss Twins” in an interview with CNBC, called Bitcoin “digital gold,” which they believe would replace physical gold as a better store of value and hedge against inflation, and exceed its market capitalization, which currently sits at fifteen trillion Australian dollars. If their prediction came true, one bitcoin would cost around A$1 million.

To invest in the best performing asset class of the last decade, always do your own research (DYOR) and use the top crypto exchanges to which Australia-based traders are accepted. In this guide, we’ll list our recommendations and go through each one.

Best Cryptocurrency Exchanges in Australia – Top List

eToro – ASIC Regulated Bitcoin Trading PlatformeToro is regulated by ASIC, the Australian Securities and Investments Commission and has an Australian Financial Services License. eToro has an office in Sydney, New South Wales. The platform is open to Australian customers, merchants in New Zealand, and many other countries around the world. eToro is also regulated by FCA and CySEC. It allows the purchase and sale of more than 120 cryptocurrencies currently.

Among the useful trading features of eToro are social trading and copy trading features. With the social trading tool, registered users receive their own social media profiles, where they can share information and post their views on the markets. They can also learn about others’ perceptions of crypto assets.

Its trade copy platform has a pool of verified professional investors with proven profitable trading track records. Users can benefit from this tool by copying the trades of these traders. eToro does not charge any management fees and it will automatically choose which transactions from your portfolio you want to copy from others.

Another feature of eToro is its free crypto wallet also known as eToro Money wallet. To secure your funds from DDos attacks and unauthorized access, it comes with industry-defined security standards. Merchants can opt for a crypto debit card to use crypto funds in retail purchases.

Traders looking for passive income can use the staking rewards offered by eToro, like many other platforms, by holding certain coins. You can earn rewards by staking Ethereum (ETH), Cardano (ADA) or Tron (TRX) on eToro.

eToro offers the widest range of deposit options compared to any other cryptocurrency exchange Australian customers have access to. These include bank transfers, debit and credit cards, Paypal, Neteller, Skrill, etc. It also has a mobile crypto app.

eToro requires KYC (know your customer) verification, which may be seen as a drawback for some. You must upload a photo of your government-issued ID (passport/driver’s license) for the process. Some traders prefer this because it makes the platform more secure and does not risk facing regulatory crackdowns, unlike exchanges that do not require KYC. Advantages

• Australian regulated stock exchange • Copy trading • Social trading • Maximum deposit options • Free crypto wallet with an unlosable private key

The inconvenients

• May not be best for scalpers and day traders • Requires ID verification • No leverage for crypto, only other asset classes

Visit eToro.

Crypto-assets are a highly volatile unregulated investment product. No investor protection in UK or EU.

Bybit – Alternative Crypto Trading Platform in Australia

ByBit offers both spot trading and margin trading for crypto (known as futures trading), which is not available on eToro.

So, rather than owning the underlying asset, you can easily buy or short the price direction of Bitcoin and other cryptos, by buying contracts (CFDs or contract for differences).

A unique feature of Bybit is a 0.025% maker discount when setting limit orders on futures trades. Apart from indulging in free crypto trading on the platform, each time you open and close your position, you can actually earn money by getting the maker’s rebate, guaranteeing small but significant cumulative profits.

Bybit’s maker discount is 0.02%, more than Kucoin and Bitfinex. Binance does not have manufacturer discounts on margin trading. Only a few high-volume spot traders with Bitcoin trading volume in the hundreds per month can get a maker discount. But the Bybit maker rebate does not depend on the volume of transactions.

You can open a 1x short hedge on futures contracts if you want to sell. Even if the price goes up, 1x short cannot be liquidated. It’s basically selling your crypto for cash without the fees. You won’t just get the manufacturer’s discount, but you’ll also be funded every eight hours, usually favoring shorts. Funding is 0.01%, so buying a trade earns 0.01% interest on selling in eight hours.

Always use a stop loss with 1x leverage when opening a short, or a long – 1x long can be liquidated. Although leverage helps you increase your profits, if you use it without a stop loss, you risk losing your entire account fund. For better average entry, use layered bids when tailoring your positions.

Like eToro and Binance, ByBit does not have social trading or offer a separate wallet that supports a physical debit card. It nevertheless has a mobile app and offers a few staking options.

Bybit allows users to be anonymous as it does not require them to provide government-issued ID to withdraw up to 2 BTC per day.

Advantages

• Manufacturer’s rebates on futures contracts • Full charts from Tradingview

The inconvenients

• Unregulated • Fewer deposit options • No social trading

Visit the Bybit exchange.

Your capital is in danger.

Binance

Considering the trading volume, then Binance is the most popular crypto exchange that Australia-based users can use. Although the user base is higher in Coinbase, the trading volume is higher on Binance.

This is probably because it offers the widest range of altcoins, allowing spot or margin trading for everyone. With over 500 DeFi coins and tokens, it has the maximum number of coins listed compared to other exchanges in this review.

Its technical indicators are similar to Bybit, with a classic mode more suitable for casual investors and beginners. Its advanced mode is designed for professional investors.

It supports DeFi staking, locked crypto staking, mining, and yield farming. You can check the Binance Earn part of the website or the downloadable desktop client or mobile app to learn more about this feature.

Binance offers a secure wallet just like eToro. Binance’s wallet has 10 million users worldwide and is called a “trusted wallet”.

Advantages

• Spot and margin trading • Supports most cryptos • Advanced TA indicators

The inconvenients

• Unregulated • No social trading

Visit the Binance exchange.

Your capital is in danger.

Is Bitcoin a good investment?

As of this writing, Bitcoin price has found support around the 100-week MA (moving average), which has always been a good time to buy Bitcoin and hold it as a long-term investment.

To buy Bitcoin Australia, traders will currently need to invest around $47,000 AUD ($34,000 USD) in 2022, which is half the price from Bitcoin’s all-time high in 2021.

Best Bitcoin exchange in Australia – the verdict

Most traders prefer multiple crypto exchanges to open accounts and keep their funds in different places rather than keeping them all in one.

In this way, investors can also benefit from the different features of different trading platforms. For example, traders can choose a copy wallet on eToro to invest part of their portfolio on autopilot and choose to trade another part of their portfolio by choosing platforms like ByBit and Binance, which are more suitable for intra-trading. daily.

NB – Coinbase in Australia allows the purchase of crypto but does not allow withdrawals to AU bank accounts. For that, you just need to send it to another crypto exchange to convert it to AUD. Thus, Coinbase functions as a Bitcoin exchange where Australian traders can buy BTC and transfer it elsewhere before selling it.

eToro remains the top Australian cryptocurrency exchange where investors are accepted as it has a financial services license from the Australian Securities and Investments Commission (ASIC).

Visit eToro.

Crypto-assets are a highly volatile unregulated investment product. No investor protection in UK or EU. Your capital is in danger. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You need to ask yourself if you can afford to take the high risk of losing your money.

Disclaimer: Content Produced by CryptoPR

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