5 Best Crypto OTC Trading Platforms in Australia 2023

Cyberattacks and hacks can lead to millions of dollars being stolen, leading to potential significant losses for crypto exchange users. CoinJar is a simple cryptocurrency exchange, that has been around for a long time. It has built up its reputation and trust in the Australian crypto industry, and the best feature is the CoinJar card, that operates like a debit card for your cryptocurrency. It is powered by MasterCard, and you load it with any cryptocurrency you like in your CoinJar account.

• On top of stocks, ETFs, and cryptocurrencies – you can also trade CFDs in the form of hard metals, energies, forex, and indices.
• Currently, SelfWealth has over 78,000 Australian investors using its platform, allowing traders to trade both Australian and US shares.
• Whether you’re looking to trade forex, stocks, commodities, or Bitcoin – you’ll need to ensure that your chosen trading platform is right for you.
• Swyftx makes day trading incredibly easy, allowing you to swap, buy and sell coins instantly.

This is a high cost of entry for new investors that wants to buy crypto with AUD. Cointree is a top crypto exchange for Australians that has been around for many years. It is well known for its simple and easy-to-use interface for buying and selling digital currencies with fiat money. With over 240 assets to buy, trade, and sell using competitive fees, Cointree is a great choice in Australia.

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Breaking through these levels often signifies strong movement in the related direction. Before buying the dip, it is common to conduct chart analysis to determine possible levels of resistance or support. These are then used by traders to set a stop-loss and take-profit to minimize the risk involved with the trade.

• As a day trader, you will analyze patterns and spot trading opportunities with the help of several charting and analysis tools.
• IR is a veteran of the Australian crypto scene and supports a total of 13 cryptocurrencies, including the most popular ones like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple.
• There are also pre-selected portfolios that cover a variety of risk levels and financial goals.
• The Kraken futures platform is another option, with makers and takers paying fees starting at 0.02% and 0.05%, respectively.

Commsec is also an extremely secure and trustworthy platform that’s licensed by ASIC. While it’s not quite as modern as some new online trading platforms, it’s a solid choice that’s certain worth checking out if you want to trade stocks and options. When you sign up to a crypto exchange, most of them provide you with a wallet that is held in your exchange online.

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Spot trades will incur maker and taker fees of 0.1% whilst futures start at 0.02% and 0.0%, respectively. These are the maximum fees customers will pay since they can be reduced depending on the 30-day trading volume, or by the amount of KCS held. All in all, these fees are very economical and comparable to other altcoin exchanges of similar reputation. Like most modern-day crypto exchanges, CoinSpot has two-factor authentication (2FA).

• Coinstash is a trusted Australian crypto exchange that lets you trade more than 1,000 using AUD.
• Not only that, but when you use your Visa debit card to spend AUD or crypto (which you pre-load beforehand), you receive up to 5% cashback paid in CRO on every purchase.
• By following these steps and using a trustworthy, regulated platform, you can safely and efficiently purchase cryptocurrencies in Australia.
• The best exchange for local traders depends on their individual needs, goals, and risk tolerance.
• A 500+ liquidity score from CMC is considered to be a high-volume exchange.

Crypto exchanges will include a digital wallet to store the purchased crypto. While the investor can access the funds and make withdrawals, the exchange is the actual holder of the private keys. As exchanges can be hacked or compromised, transferring the crypto from the exchange to an external wallet – is best. We’ve reviewed some of the best crypto wallets for Australia to store your cryptocurrencies. Coinbase is one of the safest places to buy and store crypto assets that features industry-leading security measures to ensure customer funds and personal information are kept safe at all times.

Supported Cryptocurrencies

One significant advantage of OTC crypto trading is executing large trades without affecting the market. When large orders are placed on traditional exchanges, they can change prices significantly and significantly affect the market. In contrast, OTC trades are executed directly between the two parties without affecting the market.

• This is perfectly fine, but you must ensure that the regulator is reputable.
• Even though Binance was hacked in 2019, it still remains one of the most secure Australian exchange sites.
• With more than 300+ coins, you will be able to buy and sell all the popular cryptocurrencies, as well as many small altcoins that are up and coming.
• Initially, it charges 0.50% per slide, which is still high, but much less than the 1.49% it charges for buying and selling.
• This will help address the current scarcity of electric vehicle charging points available to drivers, making EVs more accessible.
• Because of this, you don’t need to go to a global crypto lending platform to earn interest, you can obtain attractive rates here.

The platform didn’t include the 5% service fee into the price of the asset when listing them, so I was rather taken aback when placing the order. Also, I would like to see more coins available, as at the moment they only have around 10 coins on offer. Compared to other exchanges of this type, the IR fees are incredibly low, starting from 0.5%, and can decrease to 0.05% depending on your trading volume. IR is a veteran of the Australian crypto scene and supports a total of 13 cryptocurrencies, including the most popular ones like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple. Despite the limited choice, I also noticed a handful of other promising altcoins like EOS, XLM, BAT, GNT, REP, OMG, 0x, and PLA.

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However, their customer service is somewhat lacking in comparison to other providers. As far as fees are concerned, like CoinSpot, the platform charges a flat fee of 1%. Trading fees on their actual exchange differ for makers and takers based on their 30-day trading volume with the highest fee being 0.1% for makers and a flat 0% for takers. So far, they’ve launched numerous solutions to make crypto trading easier for both retail and institutional traders. While no-KYC exchanges offer anonymity, trading with a decentralized exchange is risky. If you lost access to your crypto wallet, you will not be able to restore your funds.

• Quantum AI algorithmic trading software supports both automated trading and manual trading.
• Despite the limited choice, I also noticed a handful of other promising altcoins like EOS, XLM, BAT, GNT, REP, OMG, 0x, and PLA.
• Easy Crypto Australia is a non-custodial cryptocurrency exchange, which means neither your crypto assets or AUD are stored on the Easy Crypto Australian platform.
• It will take a few minutes for the registration process to complete and then you will be able to access your account on the official website of Quantum AI.
• On this top-rated crypto platform, bank transfers are usually free, although you’ll need to wait a few days for them to arrive.
• Furthermore, if you are someone who does not know how to buy cryptocurrencies, the platform has a specific section with educational content for all kinds of users who want to learn.

It is an advanced trading platform designed primarily for experienced and institutional investors. As a newcomer to the world of cryptocurrency trading, BitFinex may seem daunting and may require some time to learn how to use it effectively. I do think that the main issue with CoinSpot, however, is that it charges above-average trading fees.

Why do some Australian crypto exchanges ask me to verify my identity?

Binance is one of the best brokers for finding the best crypto to buy now if you are looking for a platform. The meme coin price charts increased after Elon Musk tweeted about it. When it was listed on popular trading platforms such as Coinbase, cryptocurrency investors gained confidence. This contributed to commodities bitcoin’s all-time high value of $0.74 (£0.55) this year. Since bitcoin was launched in 2014, its value has increased by twenty thousand percent. Look for exchanges that offer convenient methods, such as bank transfers, credit/debit cards, or digital wallets, to facilitate easy deposits and withdrawals.

We have compiled this list based on important aspects that must be considered when choosing the right platform. These include supported payment methods, the number of coins, trading fees, security, and customer support. Swyftx is a well-known Australian-based cryptocurrency exchange that has been operating since 2017. The platform offers a straightforward pricing model, charging a flat 0.6% fee on all trades across over 320 cryptocurrencies. For beginners, Swyftx provides an intuitive interface that is easy to use, and even offers paper trading for those who want to test their trading skills without risking real money. Experienced traders can benefit from real-time price data and integrated charts to facilitate more advanced trading strategies.

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Additionally, it allows for leverage on margin trading of up to 100 times. Aussie traders can also access all of these features on their mobile devices from anywhere in Australia. It has every charting feature you could possibly need to help you choose investments more wisely.

• Compared to other exchanges of this type, the IR fees are incredibly low, starting from 0.5%, and can decrease to 0.05% depending on your trading volume.
• In 2009, if you invested just £100 in Bitcoin, your investment would now be worth over £400 million.
• The software is designed for anyone who wants to do trading in cryptocurrency and earn profits daily.
• EToro accepts an assortment of Australian payment methods – including debit/credit cards, bank transfers, and even e-wallets like Paypal, Skrill, and Neteller.

Huobi Global is currently among those platforms that offer the highest leverage to all margin trades. It supports over 348 cryptocurrencies and 160+ pairs for margin trading. It falls under the top ten categories of crypto trading platforms in Australia.

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Additional features include two-factor authentication and I.P./device whitelisting. The ‘SAFU’ feature hosted by Binance is perhaps even more impressive. With all this, Binance is one of the best crypto exchanges Australia – for you. The Quantum AI demo account is for anyone who wants to try out crypto trading without actually investing any funds. Here, the users of the software can trade cryptocurrencies without using any funds.

• Here are the top 3 crypto exchanges in Australia in 2023, with more options below for those who are looking for something different.
• In addition to the specific market, you also need to understand whether the provider offers traditional assets, CFDs, or a combination of the two.
• So, if you are looking for a platform to find the best crypto to buy, Crypto.com is your best option.
• Alternatively, you can withdraw your coins to a private Bitcoin wallet of your choice.
• On top of this, Binance also has some of the lowest fees you can find.
• Here are the top stories from the week beginning the 31st October 2022.

This makes it the country’s most trusted and safest OTC cryptocurrency broker. An essential thing to consider is how good the customer service is on an OTC trading platform in Australia. Live chat support is a great feature to look for because it lets you solve problems quickly and easily. Furthermore, it’s essential to choose a platform with customer service teams available 24/7 so that you can contact them via phone or email and receive prompt answers to your questions.

Risks of Buying Cryptos

Selling Bitcoin back to AUD and withdrawing it is a process that is more streamlined than other platforms. The methodology used to find the right crypto exchange in Australia comprises a comprehensive review process. This includes creating a verified account, depositing funds, placing trades, and withdrawing funds with each provider to gain a complete understanding of the overall user experience. Industry-standard security features include cold storage, a multi-signature withdrawal process, and two-factor authentication. Well-established cryptocurrency exchanges in Australia should employ various security measures to protect customers’ personal information to prevent the theft of funds and fraudulent activity. Check the exchange’s security page to confirm these measures are in place.

• Because of this, if you want to sell Ethereum and buy Bitcoins, you can do so through just one trade instead of first changing your crypto to fiat and using it to buy Bitcoins.
• With the Fight Out platform, users can monitor their physical activity and earn cryptocurrency as a reward.
• Also, I would like to see more coins available, as at the moment they only have around 10 coins on offer.
• With a sleek UI that makes it simple to navigate on both mobile and PC apps, Swyftx provides an excellent user experience.

Finally, Plus500 is authorized by several authorities, including ASIC, the FCA, and MAS. A user-friendly platform with an intuitive interface is essential for both beginners and experienced traders. When you decide on a crypto exchange, look at the ease of use, variety of trading tools, and usability of the mobile app. Also look for customer support avenues, in particular live chat and email.