Coinspot is by far the simplest and easiest place to start out buying and selling cryptocurrencies. They provide two different types of market. The first is an open market exchange where you can buy and sell peer-to-peer. Bitcoin, Litcoin and Dogecoin are available through this market. The other market is a brokerage service where all the most popular coins are available to purchase and sell at market prices. The simplicity of coinspot makes it a great place to start out and learn all about these markets. Verification usually takes a few days, as you will be required to send a photo of your government issued identification (drivers license or passport). You will also be required to link a bank account to your new account. Coinspot accepts poli pay (Australia post pay system) or bank deposits. You will be able to deposit and withdraw to/from AUD anytime you wish. Coinspot provides a safe service where all your personal information and details are secured and not shared with third parties. If you’re just starting out in this space, coinspot is the recommended/verified exchange that we at crypto australia suggest you begin with. Once you have your head around buying, selling and storing your coins you can move your investments to other exchanges. You should always read the terms and conditions provided on all of these sites. Coinspots fee structures are available for you to go over before getting started.
Coinbase offers Bitcoin, Litecoin, Ethereum and Bitcoin Cash.. USING THIS LINK WILL GIVE YOU $12 FREE BITCOIN. Your weekly limit will increase as you hit your buy limits. It starts at $300 and the maximum is $2000. You are able purchase using a credit/debit card with coinbase. Selling coins and withdrawing AUD into Australian bank accounts is not allowed on coinbase, so you would have to transfer your coins to another exchange to withdraw your funds.
This exchange is based out of Asia. You can send coins that you already own to this exchange and actively trade 100’s of different coins and pairs. The verification process is instant. The UI is great. Binance has been making great progress in positioning themselves as one of the leading exchanges in the world. Just recently trading view added charting integration for Binance. They have very low trading fees, which you can view on their website along with the terms and conditions.
Independent Reserve is a Sydney based exchange that is one of the most competitive in Australia. Fees are reasonable at 0.5% for buying and selling the three different types of coins they provide, BTC, ETH, BCH. Verification can take up-to a few days. Full fee structures can be viewed on the site along with the terms and conditions of using Independent Reserve.
HITBTC registerd in the UK in early 2015. The exchange offers USD, EUR, GBP to BTC as well as a collection of the most common crypto to crypto trading pairs. Trading fees vary depending on whether the order is executed immediately – i.e. removing liquidity or adding liquidity – if a trade is executed immediately then the fee is 0.1% and if placed on the orderbook they receive a rebate. Deposits and withdrawals are subject to the usual hoops to jump through – proof of identity etc. Security is of a good standard. Full fees and terms and conditions should be read before trading as always.
BTC markets has a better range than Coinbase and Independent Reserve. Selling and buying can be done via Bpay, Poli pay or bank transfer. Verification takes a few days as with all Australian exchanges. Fees on BTCmarkets are competitive and the spread is reasonable.
Bitfinex is a cryptocurrency exchange, which also provides margin trading. Most of the major coins are being traded on Bitfinex. Bitfinex also allows margin trading and shorting coin. The maximum leverage is 1 top 3,3. The functions of Bitfinex are outstanding but they are also a little more advanced then most other exchanges. AUD deposits are not a option for this exchanges so you will need to transfer BTC or other supported coins to you wallet to be able to trade. Fees are low and signing up if a fast process .