24 February 2024
If you're just getting started in the Cryptocurrency world, you can feel overwhelmed by the sheer number of platforms available. Although, there's something you must remember while deciding on a transaction. Before committing, you should always read the reviews from actual customers. You need to think about things such as safety, usability, service options, and support.
Also Read: Top 5 Crypto Exchanges In USA For In 2022
As the use of Cryptocurrencies continues to rise in Australia, more and more options are becoming available for those who would like to begin dealing. If you really want to know which are the Top 6 Cryptocurrency exchanges in Australia, you should continue reading this article.
Also Read: Top 10 New Cryptocurrencies In India In 2022
CoinSpot, which launched in 2013, has used the following criteria to get to the top of the Australian Cryptocurrency exchange market. Several reviews praise CoinSpot's leading security systems, extensive list of supported Cryptocurrencies, as well as convenient payment methods. In fact, it was one of the first big Australian exchanges to offer popular Decentralized Finance (DeFi) currencies. CoinSpot has become the inaugural Australian Cryptocurrency company to collaborate with a prominent sporting club; they chose the AFL's Western Bulldogs because of the club's long history of success as well as the company's ability to develop stably over numerous bull and bear cycles.
2. Bybit Exchange
Bybit's comprehensive platform makes it the most popular Cryptocurrency exchange in Australia. The daily trading volume on this trustworthy Cryptocurrency exchange is above $10 billion, making it ideal for frequent traders who deal in huge sums of Cryptocurrency. Bybit customers may rest easy knowing that their assets are secure thanks to the platform's high level of liquidity, 99.99% uptime, and lightning-fast transaction speed of 100,000 deals per second. Dealers that engage in regular transactions, especially on a daily basis, will find Bybit most useful. Yet another group of people Bybit serves are Cryptocurrency rookies who are looking to make a long-term investment in Bitcoin in the hopes of a price appreciation. Although Australian dollars can't be deposited into your Bybit account, you may use the fiat gateway to buy Cryptocurrency using your credit card or via Apple Pay.
Unlike other brokerage platforms, Coinbase also functions as an exchange, adding to its uniqueness. Tokens may now be purchased using conventional money. With more than $20 billion in assets and $195 billion in volume exchanged via 2020, Coinbase is one of the globe's biggest marketplaces. Furthermore, there may be barriers to entry for Australian investors on Coinbase. More advanced customers may take use of Coinbase's Coinbase Pro service. As a whole, those who are just starting out with Cryptocurrency will find Coinbase the most helpful. Yet, the absence of sales might be a major turnoff for Australian consumers. Advanced investors may find greater value in a trading system that provides a wider variety of options as well as futures.
4. Swyftx Exchange
Swyftx is a leading Cryptocurrency exchange in Australia due to its wide currency selection with more than 320 and counting, cheap rates, as well as tight margins. That detailed analysis uncovered a total charge and spread average of only 1.11%. The cheap rates, staking options, Chat Session assistance, $20 in complementary Cryptocurrency simply for joining up, as well as user-friendly interface make it a top pick for newcomers. In an effort to make Crypto trading as accessible as possible, Swyftx has made a number of improvements aimed at making the process less intimidating for beginners. The UI is straightforward, allowing you to make instantaneous bitcoin purchases and sales. Learning intricate charts is unnecessary, as well as options like limiting limits may be used if desired but aren't required.
Uniswap is indeed an advanced Ethereum-based decentralized marketplace or even DEX. It operates independently, with its own liquidity pools and regulatory framework. In contrast, it works solely with Ethereum-compatible ERC-20 currencies. As a decentralized exchange (DEX), Uniswap does not conduct a review of token listings before they become live. There have been more than 400 trade pairings as of this writing, although there's some evidence to suggest that certain coins on the exchange may be fraudulent or otherwise deceptive. If you want to buy or sell Decentralized Finance, you should go to Uniswap since it has the most shares of the market of any DEX. While its incentives for liquidity providers are great, the platform has lately come under criticism for perceived centralized concerns, such as the patenting of its V3 algorithm.
6. Digital Surge Exchange
Marketplace Fairness, a leading Australian Crypto review site, conducted an independent evaluation of Digital Surge's fees and spreads, as well as the findings were fantastic. The average costs and variations for an immediate Crypto buy/sell transaction were found to be 0.71% on Digital Surge, that was 0.4% less than the second cheapest provider, Swyftx. With the exception of the costs, Digital Surge is the best option for those just getting into Crypto exchanges. Having been approved by both AUSTRAC and the Australian Securities and Investments Commission (ASIC), such a user-friendly option is a secure bet. This has been available from 2017, and you may use Australian dollars to buy any one of more than three hundred different Cryptos.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.