Best cryptocurrency exchanges in Australia – Latest Update
Have you been looking for a nice place to buy the best cryptocurrency exchanges in Australia? We want you to know that you are on the right page where you will get all the information you need.
We want to start by telling you that Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. It is the largest country by area in Oceania and the world’s sixth-largest country.
Meanwhile, we want you to know that recruitmentformat.com is one of the best online sites that will give you all the latest updates when it comes to Jobs and Exchanges from all over the world. The reason we are here is to outline the Best cryptocurrency exchanges in Australia.
How to use a Crypto Exchange
Let’s say you have AUD$400 that you want to use to buy some Bitcoin.
- Research cryptocurrency exchanges to look for the one offering the best service for your situation and needs.
- Register for an account and verify your identity if required.
- Once logged in, go to the ‘Buy’ area and select Bitcoin as the crypto you are looking to purchase.
- Choose the currency that you want to pay in (AUD) and specify how much you wish to spend ($400).
- Select the payment method that you would like to use to make the transaction and enter your payment details.
- Review the full details of your transaction including checking any applicable fees and how much BTC you will be purchasing.
- If you’re satisfied with the information, click ‘Buy BTC’.
- The BTC will be deposited into your exchange wallet or to an external wallet address that you have nominated previously.
The Best Crypto Exchanges in Australia
Based on our reviews, these are the top crypto exchanges:
- Swyftx – Best crypto exchange in Australia ($10 BTC sign-up bonus)
- Coinspot – Well known Australian cryptocurrency exchange
- Digital Surge – New Australian crypto platform with great team
- CoinJar – Oldest Australian crypto exchange
- Binance – Best cryptocurrency trading platform for advanced users
- Independent Reserve – Great Australian exchange for OTC purchases
- Coinbase – Biggest international crypto exchange for beginners
- Coinmama – International crypto broker with great payment options
- eToro – Best for CFD crypto trading
- Kraken – Best secure international exchange
Is it Safe to Store Your Cryptocurrency on an Exchange?
Cryptocurrency is stored in digital wallets. When you sign up for crypto exchange, most of them provide you with a wallet that is held in your exchange online.
You can either leave your cryptocurrency in the exchange account or transfer it to an external wallet (either a hot wallet app or a cold hardware wallet).
Some other platforms require you to have your own external wallet at the time of purchase, and any crypto you buy is sent straight there.
It is not recommended to leave your crypto on an exchange in the long term, since the exchange controls the private key to your wallet, leaving you without full control of your funds. If the exchange is the victim of a cybersecurity attack, your digital assets may be lost or stolen.