Top Cryptocurrency Exchanges for Australian Traders in 2020

There are ample opportunities to trade cryptocurrencies in 2020 and with so many options available, it is now easier than ever to get involved trading Bitcoin and altcoins.

However, with so many exchanges available, it is easy to get overwhelmed. To make the decision process easier, Micky has reviewed some of the top cryptocurrency exchanges for Australian crypto traders in 2020.

With over a hundred exchanges worldwide, there is a perfect fit exchange for everyone. Whichever that exchange may be, the process to get setup and trading is more or less the same across all platforms:

  • Sign Up: All exchanges will require some form of sign in to access the site. This will typically look like an email/username combo with a password. Make sure to use a highly secure, unique password for each site!
  • Verify: Every exchange will offer some mechanism to verify a trader’s identity. Sometimes it is as simple as confirming the input email, and other times you’ll be required to upload government documentation.
  • Fund: Fill your account with fiat or cryptocurrency you anticipate to trade with.
  • Trade: Buy and sell on the listed markets pertinent to your interests.
  • Profit: (Hopefully) you’ve earned some coin! Best practice recommends to move funds off-exchange once profits have been realized. Send cryptocurrency to your personal wallet and fiat currency back to your bank account.

Now that you know generally what to expect, the next step is choosing your exchange. Some people find that one exchange suits all of their crypto trading needs, while others prefer to use one exchange for some types of trading and another exchange for others.

Regardless of whether you choose one platform or more than one, there are several criteria that crypto traders should keep in mind during the selection process:

  • Security: “Will my money be safe?” is the first and most important question any trader should ask themselves when choosing an exchange. Make sure to stick to a service provider with a solid reputation, maximum security protections, and insurance of assets.
  • Markets & Liquidity: Some exchanges are as straightforward as simply offering Bitcoin/AUD trading, while others provide everything under the sun. Make sure the exchange has the trading pairs and types of markets (such as derivatives) that you are interested in. It’s also important that there is ample participation in said markets- they must have a certain level of liquidity to ensure the order books are prepared for trading in all circumstances.
  • Fees: Another question traders must ask themselves is “How expensive is it to use it?” The best exchanges ideally have free deposits and withdrawals alongside miniscule trading fees.
  • Usability and Customer Support: Many exchanges falter in regards to the user experience provided. Are charts interactable and easy to manipulate and dissect? Is it a simple process to navigate pages and move funds around? And most importantly, how responsive and helpful are the customer support services provided?

With these procedures and criteria in mind, here is our review of some of the top  cryptocurrency exchanges for Australian traders in 2019.

Bitfinex offers $400 million reward for stolen bitcoins

Cryptocurrency exchange Bitfinex is offering a US$400 million reward for the return of almost 120,000 stolen bitcoins. The exchange was hacked in August 2016...

Australian investment app Raiz Invest now offers Bitcoin exposure

Raiz Invest, one of the biggest micro-investing platforms in Australia, has announced the launch of its new investment portfolio that offers Bitcoin (BTC) exposure. According...

Bitcoin-pegged token tBTC on temporary shutdown two days after roll-out

Keep Network decides to temporarily shut down the Bitcoin-pegged ERC-20 token tBTC two days following its initial roll-out. Keep Network announced that they will be...

Steem set to seize $5 million from users, mysterious account rescues

The Steem network is set to undergo another hard fork – including a plan to seize 23 million STEEM tokens, worth at least US$5...

CoinFlip launches its new OTC crypto trading platform

CoinFlip has announced the launch of CoinFlip Preferred with a vision to help regular people access the world of crypto markets with considerable pricing. CoinFlip...

Binance invests in Indonesian crypto exchange Tokocrypto

Binance has further expanded its global reach with its new investment in Tokocrypto, an Indonesian cryptocurrency exchange. Binance is continuously working on its global reach,...

Dow Jones futures along with other markets rise amid U.S. jobs...

Following the Dow Jones futures surge of over 200 points, Asian markets follow suit in today's trading session. This week, the Dow Jones maintains its...

BitMEX forced to close doors in Japan due to amendments in...

BitMEX announced that starting April 30, they will begin restricting access to its Japanese users following amendments in crypto regulation in Japan. BitMEX restriction in...

Real estate crypto Breezecoin now listed on Bithumb Global

Breezecoin (BRZE), a real estate cryptocurrency, has been recently listed on crypto trading platform Bithumb Global on April 29. Breezecoin is a cryptocurrency issued by Breeze...