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Best Crypto Trading Exchanges in Australia
Cryptocurrency has been a popular option for trading for years. Some that hit the market made people filthy rich, jumping up more than 300% in a short period of time. Now, most markets have settled, but investors are busy at work looking for the next big spike.
There are tons of crypto options out there. Now, with talks of identifying it as a currency in some countries, buying into crypto has sparked a whole new interest. To get in on the action and trade, you’ll need to use a crypto trading platform.
Below, we’ve lined up the top crypto trading platforms perfect for all types of investors.
Table of Contents:
- The Crypto Hype: What Is It and Should you Buy into It
- Best Crypto Trading Exchanges in Australia
- Pros and Cons of Investing in Crypto
- How to Choose Crypto Exchanges
- How to Get the Best Bang for your Buck
- Tips to Investing in Crypto the Safe Way
Crypto: What Is It and Should you Buy into It?
Cryptocurrencies have been a hot topic for years now. Starting off as a form of digital currency and now making its way into some countries as a declared currency. Though crypto is becoming more of a household name than ever before, there are many out there that are still unsure of what it is and what the fuss is all about.
The Cryptocurrency Hype
The popularity of crypto has exploded over the years, and it’s not just because of one solid reason. The hype of crypto is due to many things, including the following:
- Currency of the future – Perhaps the main reason behind all the hype is the fact that crypto is a new and improved way to purchase in exchange for a monetary amount. As more countries make it available for purchases and accept it as a currency, its value will continue to climb up.
- Breaking up banks – Banks are not a bad thing but, too much power in one entity can create higher fees and less competition. Crypto is thought to come in and break up centralized banks, creating a bit of healthy competition to keep consumers from paying unimaginable fees.
- More accurate record-keeping – Because it’s digital and tracked via highly advanced technology, crypto is considered to be one of the most accurate and accountable currencies on the planet.
- It’s safe – Purchasing crypto comes with a crypto key that’s difficult to crack. This complex jumble of numbers and letters is unique to a holder’s account and secured by advanced security measures. It’s said to be safer than traditional payment options and offers a secure way to hold and purchase online.
- On the rise – From an investor’s perspective, crypto is a solid choice because it’s speculated to continue to rise. Because it’s moving toward acceptance across the globe and increasing in value, it’s not a stock that investors are looking at for a quick way to make money overnight.
Is Crypto a Solid Investment? 💰️
If you’ve taken to the web and attempted to check out the pros and cons of investing in crypto, you might find that you run into a lot of mixed reviews. It’s because of these mixed reviews that there is some hesitancy from those interested, making them question whether or not crypto is a solid investment.
One of the key drawbacks is that crypto is not like other currencies is that there is no cash flow to create a profit. If you buy it and hold onto it, then other traders that come along after will have to pay more for it than you did. Another is that, though they seem to be popular now, they will eventually fall into the pits just like other forms of payment, not having any true value.
On the other hand, the pros outweigh the cons for now, and there seems to be much more positive news surrounding crypto than negative. First of all, some countries have declared it as a currency, which increases its value and its significance.
Additionally, the volatility of the stock at the moment makes it a breeding ground for turning a profit. As news surrounding the coin changes, so too does the interest in the coin, driving up the value and keeping it going steadily.
Best Crypto Trading Exchanges in Australia 🇦🇺️
The better the broker, the better the trades.
Find out why we picked our top 10 and what you can expect when you sign up with them to buy, sell, and trade your crypto shares.
1. eToro – Our Top Pick for Best Crypto Exchange
- Available Crypto: 115+, including ETH, ETC, and BCH
- Fees: No fees
- Accepted Currencies: AUD, USD, EUR, GBP
eToro is our top pick for many reasons, including its low brokerage fees, a large number of markets, and a list of advanced trading features. No matter what level of investor you are, you’re sure to find something at eToro, including more information about how to improve your trading techniques.
- Innovative and social investing platform
- Renowned name that’s recognized globally
- Access to Forex, CFTs, crypto, and more
- Advanced trading tools
- Higher non-trading fees than some others out there
Perfect for Beginners
eToro is the perfect crypto trading platform for beginners, coming with some helpful tools and in-depth practice. New traders can use help from eToro’s demo account, scoring access to $100,000 in virtual cash that they can use to learn the ropes.
By making risk-free trades, new traders can see the process from start to finish while learning how to research the market. Once the awarded virtual amount is done, traders should have enough experience to take off and start trading, using eToro’s other beginner-friendly tools.
Crypto Copy Trading
eToro is one of the only platforms on the web that offers copy trading, a unique feature that allows investors of all kinds to mimic the pros. All members have to do is choose an investor, follow along, and choose whether or not they want to copy their trade, hoping to become more successful over time.
Copy-trading only allows traders to select one pro, using them as their example and copying all of the top trades that they make in hopes to make the same return.
Zero Brokerage Fees
Another key feature that makes eToro stand out is its lack of brokerage fees. Instead of losing money by paying commissions for brokerage, users can keep their return and walk away with more of their earnings instead of losing it to fees. Though there are fees in other areas, if frequent trading is your goal, eToro could be the best platform for your crypto trading needs.
2. Plus500 – Best Feature-Packed Crypto Exchange
- Available Crypto: 50+, including BTC, Litecoin, and Crypto indexes
- Fees: Fees vary and are based on the spread
- Accepted Currencies: AUD, USD
Plus500 has been around since 2008, becoming one of the most sought-after exchanges on the web. Joining the trading platform is easy and, once you’re in, it’s super simple to navigate. Plus500 offers a little something to traders of all levels, including access to a number of cryptocurrencies and currency pairs.
They offer users a mobile trading app that includes advanced market orders and even customizable alerts to get immediate updates when stocks of interest drop in price.
- A simple platform that’s easy to figure out
- Account opening that’s simple and doesn’t take long
- Customer support that’s available 24/7
- Access to crypto trading
- Market options are limited
- Research tools could use an upgrade
Quick Account Opening
Some platforms out there make it complicated to open an account and start trading. With Pus500, you won’t find that, able to access the market in no time and start trading. To get started, users will have to create an account and verify their identity.
Once that’s done (usually less than 24 hours), traders will need to add funds. The minimum deposit required for Plus500 is low, falling at $100. Once a minimum of $100 is deposited, traders can browse the market and choose the crypto that looks the most promising, and start trading almost instantly.
No Deposit or Withdrawal Fees
There are some brokers out there that tack on fees when traders want to add funds or withdraw earnings. With Plus500, both deposits and withdrawals are free, offering traders more access to their earnings and less loss to fees.
As far as making deposits and trading, there are a number of currencies available to choose from, including ASX, USD, and GBP just to name a few. Because Plus500 offers different currencies, there are only conversion fees when trading within the same currency, expecting to pay up to 0.7% for conversion fees otherwise.
Crypto Trading App
In addition to trading online via the website, traders can also access the market via the trading app, using it as a way to make the process quicker and more interactive. The app features all of the crypto markets, along with access to all charting and analysis tools to get a better view of what’s happening in the market.
Users can use this information to make more mindful trades and have better access to how events will shape crypto and what that will mean for their opportunity to earn from making trades.
3. Swyftx – Best for Customer Suppport
- Available Crypto: 250+
- Fees: 0.6% trading, 0 fees for deposits or withdrawals
- Accepted Currencies: AUD and USD
Swyftx offers over 200 cryptocurrencies that Aussies can trade with both AUD and USD. One of the main reasons why they earned a spot on our list of top 5 trading platforms is because of their competitive fees, most of which are non-existent or fall way below the average.
They offer several layers of security for traders, including password protection and frequent penetration testing to stop exploitable vulnerabilities before they start. For the best in quality and performance, Swyftx is a solid choice for your crypto trading needs.
- Convenient payment options including debit and credit cards
- Interactive user interface
- Simple registration
- 270+ cryptocurrencies available
- Customer care that includes live chat support
- Currency exchange is complicated
- Only for traders in Australia
Instant Access to Crypto
One of the best things about the platform is that Aussies score instant access to crypto. There is no need to convert to other currencies, as Aussies can use ASD to get the transaction started. With instant buy, Aussies can type in their investment amount and get an automatic conversion of the amount in BTC. In that way, they can always stay within their budget and know how much crypto they’ve bought.
Each tab on the website features icons and numbers to give traders access to the information they want quickly. Traders can customize their dashboards any way they like so that, with each login, traders can find what they’re looking for. From the value of their investments to breaking news, the Swyftx dashboard has it all.
When it comes to crypto, the number of coins on the market is continuously growing. Swyftx offers traders options for bundles, which offers an easier and more organized way to invest. There are 7 bundles total that feature collections of coins, which means you can invest in multiple assets at once.
Looking through the bundles, traders will find that many of them feature some of the strongest assets, grouping them together for instant diversification all in one holding.
4. Kraken Exchange – Most Secure Crypto Exchange
- Available Crypto: 70+ including DASH, DOGE, and NANO
- Fees: 0% to 0.26%
- Accepted Currencies: USD, AUD, GBP
Kraken is known across the web for its low fees and access to crypto. Kraken is available to traders all across the globe, active in more than 170 countries. It was founded in 2011, hitting the scene around the same time as the most used crypto exchanges on the web.
During their time online, they have made a name for themselves as one of the safest crypto exchanges on the web, providing users with access to advanced security features and ensuring that their system is always protected.
- Advanced security
- Wide range of cryptocurrencies to choose from
- Access to lots of advanced trading features
- Average fees
- Eye-catching platform
- Not recommended for beginners
- Limited access to customer care
- No tax support
Access to Advanced Security
If there is one thing that stands out about Kraken, it’s the emphasis that they put on advanced security. Not only do they have layers of security throughout their network, but they also give traders the option to add extra protection with help from a two-factor login.
Kraken is regulated by several top entities, abiding by and qualifying for their approval, which requires strict security-focused features.
The mobile crypto trading app from Kraken is solid, providing traders with a more interactive and unique experience. Using the app, traders can access all of the most advanced analysis and trading tools, browsing markets and deciding what to trade before they do.
There are no limitations when using the app, getting the same access as one would when accessing the full site online. Not only can traders buy and trade, but they can also add market orders of all types for account protection when they need to step away.
Wide Range of Cryptocurrencies
All traders that choose Kraken will have access to a ton of cryptocurrencies, able to buy and trade them at any time. While it’s not the biggest selection out there, they have all of the top cryptocurrencies listed, most of them part of the top-ranking coins on the web.
When dealing with crypto, traders will find high liquidity, getting a good deal on their purchase and a fair sell price when they’re ready to trade. All of that and more is what traders can expect when they choose Kraken as their source for crypto trading.
5. Independent Reserve Exchange – Best Crypto Exchange with Insurance
- Available Crypto: 30+, including all of the top, ranked like BTC and ETH
- Fees: Up to 0.5% for crypto trading
- Accepted Currencies: AUS, USD, NZD
Independent Exchange joined the world of online crypto platforms in 2013 and was one of the first to bring crypto trades to Australia. It is a member of the Australian Digital Commerce Association (ADCA) and is regulated and licensed in the country to operate.
They offer access to a ton of cryptocurrencies and give traders the opportunity to browse, find their preferred stock, and trade using a number of market orders all from one convenient platform.
- Advanced security that keeps account information and contents safe
- Fees are low for crypto trading, not exceeding 0.5%
- Deposits are instant and don’t come with a hefty fee
- The interface can be a bit difficult to navigate
- There are deposit fees tacked onto deposits of small amounts
Low Crypto Trading Fees
When it comes to buying and trading crypto, you won’t find too many trading platforms out there with lower fees. That’s because that’s how they make their money, profiting on the fees that their users pay to trade. The volatility of some crypto markets makes them attractive to many traders, though it’s not worth it to trade if fees are too hefty.
With Independent Exchange, Aussies can access crypto accounts for much less than they might think, with trades coming with fees no more than 0.5% and, in some cases, 0%.
Access to Insurance
Unlike other platforms out there that offer crypto exchanges and trading, traders can rest assured that their accounts will be safe, and their finances are insured. The market is still new, and some crypto markets can go from profit to lose in a matter of seconds.
That’s why it helps to have access to insurance, as it will keep finances safe and secure their finances even if the unexpected happens.
Independent Exchange is another crypto exchange that offers top-notch security. They are regulated by several entities and are even a member of ADCA, making safety and security one of their top priorities. They offer secure accounts, two—facto authentications, and more to make sure that all users keep their accounts safe and can trade without worrying about their safety.
6. Elbaite Marketplace – Best Crypto Exchange for Peer-to-Peer Trading
- Available Crypto: 20+, including BTC, ETH, and EOS
- Fees: 0% for sellers, 1% for buyers
- Accepted Currencies: AUD
One of the coolest parts about trading with Elbaite Marketplace is that traders will trade with peers instead of buying or selling from the exchange. This offers an edge over the competition, evening out the fees and taking away any of the fees that other crypto exchanges charge.
They make sure that all trades and peer traders are legit and coins are received before releasing payment, helping users keep their finances secure and helping them avoid scams.
- 0% fees for sellers
- No commissions or brokers fees to pay
- Trades are ensured legit before payment is released to another party
- Personal information is secured and encrypted
- Low amount of crypto to choose from at this time
- Customer support only available via email
Unlike many other exchanges out there, Elbaite offers a true peer-to-peer trading experience. This unique setup slashes fees and ensures that users will not pay any commissions for making trades.
Additionally, the platform knows that trading between peers can be risky, making sure to escrow the agreed-upon rate until the crypto is safely deposited in the account to avoid any scams. This makes it a truly safe and unique experience that all buyers and sellers can enjoy.
A lot of the fees exchanged between the buyer and seller are kept private, reducing the chances of becoming part of a scam or receiving third-party messages that attempt to sell or buy crypto illegally. Bo funds are held with Elbaite, making it a less attractive site for hacking.
This makes it a low-risk platform that both traders and buyers can enjoy, reducing their risk for identity theft or loss of data or funds due to a breach.
Low Fees All-Around
Not only does Elbaites slash all fees when it comes to commission but, buyers and sellers also will not have to pay fees to add funds and take earnings out. All deposits and withdrawals are free, giving traders more of a chance to earn money and use it for future trades than lose it to fees.
While there are no seller fees, buyers should expect to pay up to 1% of their purchase price, though that’s relatively low when compared to other crypto platforms on the market.
- Available Crypto: 400+
- Fees: 0.1% trading
- Accepted Currencies: 40+, including AUD and USD
Binance is fairly new to the crypto trading market. During their short run, they’ve hit the ground running, making a name for themselves as one of the best platforms for crypto trading on the web. With more than 400 cryptocurrencies to choose from, investors can enjoy the variety and diversify their trading portfolios.
While Binance did make headline news back in 2019 due to a security breach, they were able to jump into action, take control, and even gave traders their money back. Their proof of swift tactics to ward off cyber criminals and trusted security measures landed them on the map as one of the safest crypto platforms on the web today.
- Highly liquid markets that offer low slippage
- Innovative platform with advanced tools for analysis and more
- A long list of accepted cryptocurrencies
- Access to multiple markets including Forex accounts
- Low fees and, with some trades, no fees
- Features can get overwhelming and take some time to get used to
- Account must maintain a balance for access to some features
Binance offers traders several payment options to choose from so that they can select the one that works best for them. Aussies can use POLipay and PayID to deposit funds or withdraw cash without and fees. In addition to these payment methods, Aussies can also use any of the following:
- Credit and debit cards
For Australians that are looking to use crypto for their trades, they can choose from more than 272 different cryptocurrencies. All of them are accepted forms of payment with the Binance platform.
One of the key advantages that come with Binance is that they now include decentralized finance (DeFi). Because of this, there are two Blockchain networks available, including Binance Chain and Binance Smart Chain. Both of these work with the help of native BNB crypto and allow investors to earn interest from their crypto holders easier than ever before.
There are no deposit fees when adding funds to Binance accounts. For withdrawals, fees are flat and vary with different payment methods. Other fees are on the lower side of things, coming to 3.5% for instant buys and up to 1.8% when purchasing with a debit or credit card.
Apart from fees, traders are limited to withdrawals of 2 BTC per day and can make a market order of up to USD 50,000. For Fiat purchases, Aussies can only buy up to $5,000 per day.
- Available Crypto: 100+
- Fees: 1% transaction fee
- Accepted Currencies: AUD
If you’re looking for a no-hassle platform that checks all the boxes without all the bells and whistles, CoinSpot is a solid choice. It’s easy to use and isn’t overwhelming, with just over 100 cryptocurrencies to choose from.
While they offer a ton of variety, they are not the cheapest option for trading crypto, which is one of their only drawbacks. On the bright side, they accept a wide range of top payment methods for Aussie traders, including debit and credit cards, and even have a high-rated and recommended customer service team.
- Highly secure and protected with multiple layers of security
- Easy to use platform
- Just takes a few minutes to get things started
- More than 290 cryptocurrencies are available
- Live chat and Help Desk offer support around the clock
- AUD is the only form of deposit selected
- Payment options do not include credit cards
Safety and Security
Crypto is a hot commodity, one that traders have to keep a close eye on. With CoinSpot, you’ll find state-of-the-art security measures featuring automated programs that keep the platform guarded. CoinSpot was awarded the International Organization for Standardization (ISO 27001) certification, which comes with a vigorous process and a long list of requirements.
During the audit, they check for management of security and the process of detection and remediation, along with the platform’s line of defense.
Pro Tip: Though the website offers solid security, trades should take their own precautions when accessing their trading and crypto accounts online, choosing secured browsers, and/or accessing their connection with a virtual private network (VPN).
A lot of brokers out there make it difficult to get a hold of them. Not only do they limit their options to contact them, but they also make it hard to locate a contact number. CoinSpot is transparent with its customer care info, displaying it in a spot that’s easy to find.
They not only feature a solid FAQ page with all the answers you need, but they also have a Help Desk and Live Chat, both of which are available to customers 24/7. Their around-the-clock customer care is one that all traders can take advantage of, getting in touch with a live agent any time day or night.
9. Digital Surge
- Available Crypto: 250+
- Fees: 0.5% base fee and other fees as low as 0.1%
- Accepted Currencies: AUD
With a base fee of just 0.5%, Digital Surge is one of the most affordable crypto trading options around. The platform is simple to use and comes with lots of features and tools to maximize your trading experience. Traders will have to deposit at least $20 to get started and can buy, sell, and trade within more than 250 crypto markets.
Digital Surge is regulated by AUSTRAC and compliant with both AML and CTF.
- Easy to use interface
- Fees are low and the structure is clear
- Investing in top markets is simple and can be done with just a few clicks
- Sign up is quick and 100% online
- Options to automate notifications like orders, price drops, and more
- Around the clock customer service
- Fiat deposits only come with AUD available
- No options to fund the account with credit cards
- Not the best platform for holding large shares of crypto
Traders come here, for one thing, access to all of the best coins on the market. When you sign up with Digital Surge, you can buy and sell any of the following coins:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Theta (THETA)
These are not the only ones and there are more than 250 other types of crypto to choose from. All of these together allow traders to buy into the crypto they want and diversify their portfolios better than ever before.
Apart from the types of crypto that are available, another plus about Digital Surge is that they are considered a low-cost exchange. Traders won’t lose a ton of their investment trying to buy, sell, or trade. There are no fees for withdrawals, and there are no fees for deposits either.
Where you do find fees with Digital Surges is with trading, which comes with fees between 0.5% to 0.1%. The number of fees for trading depends on the 30-day trading volume, which varies from month to month.
Mobile trading app
Not all trading apps are created equal but, when you find a good one, trading is much easier. The mobile trading app from Digital Surge is full of all the things that traders need, including access to the latest market info, charts, and access to notifications that help traders get the most out of their trades.
Things like price drops and breaking news can be sent straight to the mobile phone, where traders can decide their next move without having to stay glued to their mobile.
- Available Crypto: 30+
- Fees: 1% fee for buy and sell orders
- Accepted Currencies: AUD
CoinJar came early on in the crypto craze, breaking ground back in 2013. To keep things simple, they only offer a little over 30 cryptocurrencies, though they chose the best ones out there. You won’t find a complicated and overcrowded market, just a calm way to buy, sell, and trade.
As far as fees, they have a flat fee of just 1% and offer discounts when traders buy in bulk, dropping down fees to just 0.5%. Whether just starting out or well versed in the trading game, CoinJar has something to offer every trader.
- Buy and trade all kinds of crypto all in one place
- Take advantage of an easy-to-use interface
- Score a debit card where you can get instant access to your earnings
- Both AUD and GBP fiat currencies accepted
- Mobile app compatible with both iOS and Android
- There are only 30 cryptocurrencies available for trade, a small number compared to the competition
- Trading fees are about 1%
CoinJar’s user interface is simple to use and easy on the eyes. Traders can access their accounts and other information about the market in no time, both via desktop or, on their mobile phones. The platform is configurable, allowing traders to add the most important things that they need right to their home page.
Included are options to check out what’s happening in the market along with a look at what’s happening with the trader’s holdings. Along with a customized setup, traders can also set up notifications to score access to the most current news and updates surrounding their crypto, including price drops and more.
There are many crypto trading options out there that add fees here and there that wind up making it less worthwhile. While CoinJar has fees, there are many ways that traders can avoid them, including depositing and withdrawing via the CoinJar card. Deposits are fees with BPay and NPP, though Visa and Mastercard come with a fee of 2%. Withdrawal fees are low across the board, no matter if it’s an Australian bank account or another option.
As far as transactions, most of them come with a fee, though it’s 1%. This comes with both buying and selling crypto shares, which is relatively low compared to other platforms on the market.
Sometimes, the market fluctuates like crazy, creating a large opportunity to make some serious returns on investments. With the CoinJar platform, traders can log in and access their accounts, finding an instant trade button for crypto.
Included for convenience is a look at the conversion fees along with the current price of the crypto expected, all of which are there to facilitate the trade and help traders know exactly what they’re buying into.
Pros and Cons of Investing in Crypto
Just like any other investment, before you decide to start trading, it’s recommended to take a look at the pros and cons. If you’re still in between the decision to buy or trade crypto, take a look at these first.
It’s Fast and Cheap ✅️
Digital currencies work well on the internet, moving from place to place in a matter of seconds. Traditional payment methods like debit and credit cards come with processing times and other complications that only get worse if they are making their way across borders. With Cryptocurrencies that are accepted globally like Bitcoin (BTC), it making purchases anywhere is fast and, most of the time, without fees.
It’s Decentralized ✅️
Unlike other forms of currency, crypto is not currently regulated by the government and is free from any kind of regulations. Coins cannot be frozen, and accounts cannot be charged. There are no chances of seizure for any reason and, on top of it all, they are highly private and protected.
Lower Risk of Identity Theft ✅️
Traditional payment methods are linked to the user’s identity. Because of this, it can be very risky to purchase things online, especially if they come from an unknown buyer. Crypto is different, coming with a large private key that does not hold onto any sensitive data. Coins are much safer and protected by layers of security including some of the most advanced techniques on the market today.
Just because there are lots of ways to protect the account doesn’t mean that holder should not add their own measures of protection, checking out VPNs, and more to secure their connection and network when accessing their accounts or purchasing items.
It’s Currently All Over the Place ❌️
If you look at some crypto stocks, they’re kind of hard to understand. They’re up one day and down another and sometimes fluctuate within the same day. While volatility is a strong advantage for traders looking to make a quick profit, it’s not the best for those looking to invest long term.
Risk of Loss ❌️
While crypto is full of protection, there is one thing that users need to be aware of. Because it’s handled and held online, if anything happens to a hard drive or a wallet file, the currency is lost forever. Even the wealthiest Bitcoin investors are at risk, needing to find ways to make sure that they hold the coin in a reliable place that isn’t exposed to the possibility of a crash.
The Kinks ❌️
Just like anything new on the market, there is a risk of some kinks that have not been ironed out. It’s digital, and there could be things like bugs or other security issues that cause things to lose their stability in the future. At the moment, no entity governs the way that crypto is handled and/or protected, making it something that is highly up to the company and the currency.
How to Choose Crypto Exchanges
There are so many crypto trading platforms out there these days. When on the hunt for those that give you the best bang for your buck, here are a few key things that you should look for.
Nothing is worse than a trading platform that’s difficult to use. When it comes to trading, traders want apps and platforms that are easy to navigate and make the process easier and faster. Look for trading platforms that are uncluttered, organized, and give you all the things you need at your fingertips to make things run as smooth as possible.
There are tons of cryptocurrencies out there. Before you choose a crypto trading platform, make sure that they offer the cryptocurrency that you’re interested in buying and trading. Some platforms out there stick with the most powerful currencies, including BTC, and don’t offer any other altcoins.
Deposits and Withdrawals
Crypto is not something new and is showing up in all kinds of markets all across the globe. Because most crypto platforms aim to appeal to as many traders as they can, you’ll typically find that they accept deposits and withdrawals of all kinds. Before you choose one trading platform, take a look at what payment methods they offer and be sure that there is one to suit your needs.
Fees and Rates
Crypto trading platforms structure their fees and rates differently. You won’t find any out there with zero fees, though you will find some that offer lower fees and virtually no rates. Before choosing a platform, take a look at what it will really take to buy and trade shares of crypto. You may find that one platform is more cost-effective for you than another.
To keep the crypto markets safe, there are rules and regulations that require traders to verify their identity. While you’ll typically see very basic information, other platforms will get into more depth and require more personal information.
Keep in mind that all of these verifications have to be finished before you can trade, and some might take a bit to finalize. Because you’re dealing with sensitive information, consider using a VPN to add an extra layer of security while you’re on the web.
If there is one place traders can find a good representation of a trading platform, it’s with online reviews. A lot of times, customers take to the web to express their concerns or sing their praises. As a new trader to the platform, it’s good to know what to expect and see if there are any unresolved issues that raise red flags.
How to Get the Best Bang for your Buck
There are some trading platforms out there that check all that are great for a variety of trading. Most others excel in one area and are better for certain types of trades than others. To get the most bang out of your buck, check out which platforms are best for the trading you’re interested in.
Want to Buy Ethereum?
For the best deal on purchasing Ethereum, the second-largest cryptocurrency, Swyftx is your place. They offer the lowest prices and won’t cut down your return due to fees and rates.
Want to Buy Altcoins?
When you have altcoins on the brain, look no further than Binance. They have one of the largest collections of crypto trading options and have a site designated for Australian traders.
Want to Find the Cheapest Exchange?
Taking the win once again is Swyftx, with some of the lowest fees around. Trading fees come in at 0.1%, making it one of the most affordable crypto exchange options on the web.
Want to Find the Lowest Fees?
Binance has the lowest fees to offer traders thanks to their flat fee that starts out at just 0.1%. Low fees are great for traders out there that hope to trade daily, helping them cut the costs and pocket more.
Want Zero Fees?
Of course, you do, but, think twice. None of our top brokers come without fees, and for a good reason. When out on the hunt for your preferred crypto trading platform, be wary of platforms that promise no fees. You get what you pay for and, if it’s free, it’s likely not the best or safest platform to use for crypto buying and trading.
Tips to Investing in Crypto the Safe Way 🔒️
Crypto is a solid investment, one that can come with a solid return in the very near future. Plus, with talks of it becoming a currency in many places across the globe, it could change and digitize the current way we do things.
Because a lot is still in the air, it’s critical for investors to take steps to buy crypto safely, getting all the benefits and reducing the risk.
Tip #1. Check Ownership
Investing in crypto is not like investing in the top companies in the world. Instead, information is not always transparent, which is why traders should do some digging before they decide to invest.
Checking for a clear owner of the company is one key way to start checking for legitimacy, making sure that it’s a reputable owner that has a track record for success and a transparent structure that all investors can access.
Tip #2. Check Investor Interest
The most knowledgeable investors across the globe know what to look for when it comes to choosing assets to invest in. Taking a look at other investors and seeing their success as an investor is another great sign. If you see a lot of creditable and successful investors on board, you’ll likely have a solid investment coming your way.
Tip #3. Stake Vs. Currency
A lot of investors don’t know the difference between crypto and how you can actually buy into it. While some investment offers a stake (meaning you get to bank on profits), other only offer currency (means you can use your holdings for a number of different things). Both are great but, if you’re interested in gaining from a crypto’s profit, you will have to invest differently.
Tip #4. Is it Developed?
Another thing that is not always understood is that some crypto is still in the making. For instance, there some crypto companies are still in the process of creating the currency, trying to get investors on board so they can do so. Not all startups are bad but, just the same as others, they come with quite a bit of risk that you’ll need to protect yourself from.
Ready to Start?
Now that you have the rundown on the best crypto trading platforms and what you should look for, it’s time to find one and start buying. Now’s a great time to get into the market, beating all the other traders to the punch and buying at a decent rate.
While it’s not sure where crypto will be in the future, we do know that it’s going to have some importance in our growing global market that takes place mostly on the web.
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