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Using the wrong Bitcoin exchange can cost you
in more ways than one.
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What makes a good Bitcoin Exchange for Australians

Bitcoin exchanges are centralised marketplaces where most crypto coins are bought and sold.

Considering these exchanges are responsible for billions of dollars of transactions, picking the wrong exchange can lead to disaster.

I was burned by one of the largest Bitcoin exchange hacks in history – the MtGox hack in 2014 and i learned first hand the pain of losing everything i had saved on the exchange.

Having been through this experience there are some important considerations when deciding on Bitcoin exchanges.

  • History – How long has the exchange been around? Does it have 3rd party auditors?
  • Security – What kind of security does the exchange offer? Often, the history of the exchange gives a good insight into the security practises of the exchange. Does the exchange offer 2 factor authentication? If so, use it.
  • Fees – What are the trading fees? Often these can be quite high making trading unreasonable.
  • Support – Check what the average ticket response time is for support, if its days or weeks, that’s not a good sign.

Below is a reviewed and ranked list of the best Bitcoin exchanges for Australians.

Recent News

  • Bitcoin Exchange Rating Resource
  • ATO Issues warning regarding scams
  • Binance wants exchanges on every continent
  • MtGox heading to a positive conclusion?
  • ASX to implement Blockchain tech
Name Exchange Location Average Daily Volume 3rd Party Auditing Compliance Certified Accept AUD Support Review
Coinbase/Gdax
San Francisco, USA

100K BTC

Yes
Yes
Yes
24x7 Ticketing AND Phone support
Here
Binance
Hong Kong

800K BTC

Yes
No
No
24x7 Ticketing System,
Here
Bitstamp
London,, England

280K BTC

Yes
No
No
Support provided by ticket, email and there is phone support available as well.
Here
Bitfinex
Hong Kong

700k BTC

No
No
No
Ticket based support system, response times vary.
Here
Btcmarkets
Melbourne, Australia

400 BTC

Yes
ADCA Certified
Yes
Email + Tickets(Monday to Friday 8am to 8pm)
Here
LocalBitcoins
Not centralised Exchange, See Review.

50K BTC

No
No
Yes
Ticket based support system, response times can be days. Real time chat support available through IRC.
Here
Kraken
San Francisco, USA

23K BTC

Yes
Yes
No
Ticket systems for most support requests there is also live chat support.
Here