Becoming a Bitcoin trader in Australia is easy. However, you must trade with the best and most trusted Bitcoin trading platforms to avoid online scammers. You may get more insights on the best Bitcoin trading platforms from this list of the top Australian crypto exchanges. Otherwise, here's a quick dive into the top ones:
1. Binance
Many trading platforms invested in Bitcoin because it was the 'investment of the decade' (the currency that started from zero in 2009 now goes for about AUD$103,448), and Binance was one of these platforms.
Binance is among the leading cryptocurrency exchange platforms in Australia. It was founded in Hong Kong in 2017 and offers crypto trading in various tokens and currencies. You may want to consider Binance as your Bitcoin trading platform. However, most users are traders with more experience in this area. It has a relatively low average trading fee of 0.1% and offers advanced features such as margin trading, peer-to-peer (P2P), non-refundable tokens (NFT), and others.
2. Coinbase
Coinbase is one trusted trading platform and one of Australia's most used bitcoin trading platforms, although it was founded in the US. It offers a safe and secure trading platform for all its users and has over 56 million users worldwide. Whether you're a beginner or a pro, it's a good exchange platform.
Research conducted in 2021 shows that it has approximately 6.1 million transacting users, with over AUD$344 billion in assets on the platform. Its trading volume was about AUD$517 billion, with total revenue of about AUD$2.7 billion and a net income of over AUD$1,080 million.
3. Swyftx
Swyftx is a trusted Bitcoin trading platform with many users across Australia and New Zealand. It offers over 300 trading currencies and is among the best platforms for beginners. The signing up, verification, trading, deposit, and withdrawal process are pretty simple, and you may want to consider using this platform if you're a beginner. It also has a help centre and Swyftx learning feature that offers assistance and guides you through the trading process.
Most users claim that they would recommend it to family and friends, and it won the Finder Customer Satisfaction Award as the best bitcoin trading platform.
4. Crypto.com
A 2022 review on Crypto.com describes it as an old-timer in the world of bitcoin trading. It was founded in 2016 and is now one of Australia's best bitcoin exchange platforms. It offers trading discounts to users with high value in Cronos (CRO).
You should consider crypto.com your exchange platform if you're all in on bitcoin investment. It's convenient for you as a beginner because it's easy to use and has other cryptocurrencies other than Bitcoin. It also has features like an interest-earning, supercharger, and NTF marketplace that you can enjoy.
5. CoinJar
CoinJar may be among the oldest trading platforms introduced in Australia and has built trust and a reputation among Australian residents. It offers an easy way to purchase or sell Bitcoin. You can access your assets on the go and trade Bitcoin and other cryptocurrencies.
CoinJar has a card that functions like a debit card, and you can power it with a Mastercard. You can load it with Bitcoin or any other cryptocurrency of your choice. CoinJar offers you a chance to earn each time you purchase something online or in a store using Mastercard. However, their trading fees are a bit higher than most platforms.
6. Bybit
Bybit is a popular trading platform operating worldwide with approximately 2 million registered users and had AUD$3.8 billion open interest in BTC futures by April 2022. It ranks first in Australia because of its feature-rich platform. It has a huge daily trading volume, making it the best option if you want to trade an enormous amount of Bitcoin.
Bybit is among the best platforms for active day traders. Like other platforms, it offers various cryptocurrencies and derivatives for experienced traders. The downside of using Bybit as your exchange platform is that you can't deposit AUD directly into Bybit. Instead, you can make payments via Apple Pay or Mastercard.
7. KuCoin
Kucoin is among the best cryptocurrency platforms in Australia and over 200 countries. It allows users to trade, buy, and sell over 600 cryptocurrencies. You can access your Kucoin account on mobile apps or online portals, making it a very convenient platform to use when you want to trade Bitcoin or any other cryptocurrency.
Kucoin offers a wide range of trading markets and fees of 0.1%, which is considerably low. It also offers free trading bots and has many favourable features like futures trading, margin trading, spot trading, and a P2P marketplace.
8. Kraken
A review on Kraken reveals it as an excellent Bitcoin trading platform launched in 2011 by Pawward Inc. It's based in San Francisco but spread its wings across many countries, including Australia. It's the best platform to use for real-time data and offers Bitcoin, order types, and over 87 cryptocurrencies.
You can leverage up to 5x on cryptocurrencies and trade future contracts. It charges 0.16% and 0.26% for makers and takers, but it reduces with time once you trade over AUD$77,200 for the past month. However, it only pays interest of 0.25% annual percentage yield (APY) on Bitcoin.
Conclusion
Bitcoin is one of the oldest cryptocurrencies in the crypto world. Before you start your trading hobby or career, you must choose a reliable platform. This article discusses the best Australian Bitcoin trading platform you could use. Consider choice criteria like trading fees, range of coins accepted, licensing, online reputation, security features, and years of existence. Working with a trustworthy Bitcoin trading platform safeguards your investment, gives you peace of mind and increases your chances of profiting.
