The Australian government adopts a reasonably favourable stance on blockchain technology and cryptocurrencies and enables residents to invest in digital currency. According to the Australian Minister of Financial Services, Jane Hume, crypto is expected to be an asset of rising significance.
In Australia, you can access several good crypto exchanges that offer a vast selection of where you can acquire and store your assets. Many have mobile applications that allow users to stay updated on their accounts, check price trends, make trades, transact cryptos, and more.
Each app provides a wide range of features, and some will fit specific kinds of investors better than others. In this post, we will review the best crypto apps that Australian people can download and use for their daily portfolio check-ins and stay up to speed with current market developments.
1. CoinSpot
CoinSpot is the best crypto exchange in Australia, and you can read our detailed review of CoinSpot for further information. The CoinSpot app is wholly suited for iOS and Android smartphones, and previous trading knowledge is not necessary to get started.
CoinSpot crypto app provides you with access to over 370 coins which is ideal for those looking for the top crypto app in Australia for asset diversification. CoinSpot’s account registration procedure is straightforward, and account verification is quick.
CoinSpot app supports fast and free deposits with POLi, bank deposits and PayID. However, BPAY deposits incur a fee of 0.9% of the transaction value, which is charged by BPAY. CoinSpot charges just 0.1% per side on market orders and OTC trades, which is the cheapest in Australia. However, you will have to pay 1% for the convenience of using instant buy and sell. We definitely feel like this is worth it though for how easy it is to actually buy and sell crypto on this app.
In addition, the CoinSpot app levies a common 1% fee on take-profit and stop-loss orders. However, over 2 million traders trust CoinSpot, and the app has two-factor authentication for your safety. Additionally, the CoinSpot cryptocurrency app offers round-the-clock customer service through live chat, which is a nice bonus.
2. Binance App
One of the best apps for crypto trading in Australia is Binance App Australia. You will have access to the leading Binance cryptocurrency exchange, which covers over a thousand markets. It supports cryptocurrencies exchanged against the Australian dollar, such as BTC/AUD and ETH/AUD. All the crypto markets hosted by the Binance app can be downloaded for free on iOS and Android devices and incur a small fee per slide.
The Binance app allows you to pay fees using its native coin, BNB, resulting in a 25% charge reduction. Fees are also reduced for trading larger quantities. This will appeal to experienced day traders with greater risk tolerance. You can also access technical indicators and charting tools, all of which have been tailored for the Binance mobile app.
You can deposit money with a debit or credit card, although big costs may vary based on the third parties. Binance enables fee-free BPAY deposits. In terms of security, you can access security features, such as two-factor authentication and biometric login capabilities. This app is definitely tailored for advanced traders specifically, we don’t recommend it if you’re new or an intermediate crypto enthusiast.
3. CoinJar App
CoinJar is a popular Australian exchange, only ranked after CoinSpot. The exchange integrates the comfort of traditional banking with the sophisticated technology of digital currencies, allowing Australians to deposit monies via their bank accounts while requiring non-Australians to use cryptocurrency. Each cryptocurrency is stored in its Coinjar wallet.
The advent of the CoinJar app has greatly facilitated user convenience. The application enables users to access their crypto holdings and purchase, spend, send, and receive Bitcoin and at least 20 other cryptocurrencies. A user’s balance is accessible anytime, and you only need a few clicks to execute transactions. In saying this however, some features are missing from the CoinJar application that are currently available via the browser.
Users can also deposit money via PayID, BPAY, and Cash Deposits without incurring any deposit fees. The CoinJar swipe card is also free for users who order it using the mobile application. This platform is slightly more expensive than other Australian ones, but overall it’s still a decent choice.
4. Coinbase App Australia
Coinbase emerged as one of the most user-friendly and secure cryptocurrency applications in Australia. It takes fewer than 10 minutes to open an account, including the KYC verification procedures, before you can access more than 50 digital currencies. Coinbase’s most frequently traded tokens are Bitcoin, Ethereum, Dogecoin, Shiba Inu, and Cardano.
However, you cannot purchase Binance Coin or XRP here, and many users report slow downs and poor connections while using the app. Nevertheless, the Coinbase app permits deposits with Visa or MasterCard and debit or credit cards. Unfortunately, the costs associated with this payment option are 3.99% of the transaction value and significantly more when purchasing less than $200 worth of cryptocurrency.
The standard buy and sell cost on the Coinbase cryptocurrency app is 1.49% per transaction, and there is no discount for more significant trades. This is very expensive when comparing it to other exchanges in Australia. Coinbase does not provide interest-bearing savings accounts. With the app’s staking option, you may make up to 5% yearly. This is the case for six tokens at the time of writing, while support for more staking currencies is imminent.
Regarding security, Coinbase has a stellar reputation. The software provider permanently stores 98% of digital client cash in cold storage, and you will be required to go through a two-factor verification procedure each time you connect to your account. Coinbase is regulated in the United States and is a publicly-traded company on the NASDAQ. Regarding local regulation however, we are not confident that this platform meets the standards of other Australian platforms.
5. Swyftx App
When compared to more popular exchanges such as CoinSpot, Swyftx provides an app for iOS and Android smartphones. The Swyftx app and online trading platform allow you to trade a wide range of cryptocurrencies, though their interface is not user-friendly. You can read our CoinSpot vs Swyftx comparison to learn more about the features of their apps.
Swyftx gives you access to more than 290 digital currencies, suitable for those starting out and wanting to construct a diverse portfolio. But more experienced users may wish to find an exchange with more trading pairs and coins. Regarding the Swyftx app’s price structure, it is cluttered however, which impacts user experience. Many approved payment methods are available, which allow you to deposit and withdraw Australian dollars without incurring transaction costs. There is a $100k deposit limit however, so if you are searching for a high value exchange you may need to look elsewhere, such as CoinSpot which has no deposit limits.
According to multiple Swyftx reviews, this crypto app has features that will appeal to long-term investors. This includes tools for staking, which let you earn interest on your idle tokens. Additionally, you can set up regular orders, which are ideal for dollar-cost averaging.
Fees are imposed at a rate of 0.6% each slide, but more enormous trading volumes result in reduced costs. This begins at only 0.41% in terms of spreads. The crypto app supports PayID, POLi, and bank transfers, allowing users to deposit funds into their Swyftx account via debit or credit card.
6. Etoro
Founded in 2007, eToro now offers trading services to over 25 million customers, many of whom are international and not based in Australia.
Although not many Australians use eToro, the platform is still authorized and regulated by ASIC. Furthermore, eToro has been approved by regulatory bodies in the United States, the United Kingdom, and Cyprus. Before trading on the eToro app, you will need to open an account, which usually takes less than five minutes.
Then, download the app on your iOS or Android device where you will need to make a high $50 first-time deposit. It’s worth noting that many other Australian platforms do not make users do such a thing, so keep that in mind. When using the eToro app, you can pay with debit and credit cards, PayPal, Skrill, online banking, POLi, and more. All of the aforementioned payment methods are charged an expensive fee of 0.5%.
After funding your account, the eToro app gives you direct access to 59 digital currencies. This is a medium amount of coins, but if you’re after more variety, you’ll need to use another exchange. The main coins that you can purchase are Bitcoin, Ethereum, EOS, Dash, Monero, XRP, BNB, Bitcoin Cash, AAVE, Decentraland, and many other cryptocurrencies with the click of a button. Furthermore, when you invest in cryptocurrency through the eToro app, you will have to use $10 minimum per trade, which can put off some investors who prefer to invest with smaller amounts.
We also like the eToro app because of its crypto wallet features. That is, once you have bought your chosen digital currency, the eToro app doubles up as a safe and secure storage facility. However, if you have any questions or issues, the customer support team at eToro is very poor and often takes multiple days/weeks to get back to you. We see this as a massive downside, especially when you have other platforms that offer 24/7 support.
eToro charges 1% above the market bid/ask price for trading fees, which is seen as on the expensive side. We do like that the eToro crypto app provides professionally managed portfolios though. Your portfolio will be managed by the eToro team. You can also copy other traders on the eToro app.
For example, if you decide to become a seasoned crypto trader who uses the eToro platform, all future investments will be copied into your own portfolio. eToro provides Australian investors with access to traditional asset classes in addition to cryptocurrencies. This includes thousands of international stocks and ETFs that can be purchased and sold with no commision fees.
You will also have access to crypto CFDs as an Australian retail client. This allows you to trade digital currencies with a leverage of 1:2 on the eToro crypto app, effectively doubling your stake.
7. Digital Surge
The next provider to consider from our comparison of the best crypto apps in Australia is Digital Surge. This popular and easy-to-use mobile app allows you to create a verified trading account in under two minutes.
According to Digital Surge, you can deposit funds instantly when using PayID or POLi. When it comes to fees, POLi will cost you between $2 and $3.30; however, PayID transactions are free. Trading commissions are charged at 0.5% per slide. Your commision will be reduced if you trade more than $100,000 in a 30-day period.
The Digital Surge crypto app comes packed with additional tools and features. For example, the app functions as a crypto wallet, allowing you to safely store your crypto assets. You can also track the value of your cryptocurrencies in real time and set up personalised price alerts. Customer service is offered on the Digital Surge app via live chat.
8. Independent Reserve
Independent Reserve offers a mobile trading app for iOS and Android devices. Users can buy, sell & store cryptocurrencies as well as track portfolios and price movements on the user-friendly app. Designed for both novices and experts, trades can be placed fast and securely. Simply set up a free account, deposit funds and you can begin trading in minutes.
9. Kraken
The Kraken cryptocurrency app is available for both iOS and Android and has a simple interface.
We like how Kraken allows you to deposit Australian dollars using a local bank transfer for as little as $5. This top-rated cryptocurrency app will appeal to inexperienced investors who want to start small.
Moreover, if you choose to transfer funds through Osko, your deposit will be credited almost instantly.
The Kraken app supports over 65 digital currencies when it comes to supported markets. The app employs a maker/taker pricing model, which limits trading commissions to 0.26 percent per slide. When you trade in larger quantities, you will be offered a lower commision rate.
10. Zipmex
Most cryptocurrency traders believe that desktop give the best conditions for their trading. The computer has a larger screen, and on larger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all cryptocurrency investors require desktop computers for trading. Some people prefer to trade cryptocurrency on their phones. If you are one of these traders, you will be pleased to know that Zipmex’s trading platform is also mobile friendly. Zipmex Australia has a fantastic mobile app available for both Android and iOS devices. The apps do almost everything that the full-fledged desktop site does. The mobile applications are also simple to use; simply log into your account to get started. From the palm of your hand, you can buy/sell, play games, manage your portfolio, and much more.
You can immediately download the Zipmex Australia mobile app from your mobile device’s app store. It is available for download on both Google Play and the Apple App Store.
11. Bybit
Bybit app is developed by ‘Bybit Fintech limited’ for both android and iOS platforms. The app allows traders to trade bitcoin, ethereum, EOS, and XRP in real time. The app has everything you need to trade crypto, including charts interactive charts for enhanced performance.
Bybit allows for quick deposits and withdrawals using cryptocurrencies without the use of any fiat currency.
The android version of the bybit has a 4.2/5 rating. It has also been downloaded from the Google Play Store over 50,000 times. In the Apple App Store, the iOS version of the bybit app has a rating of 3.9/5.
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The following review is for informational purposes only and should not be construed as financial or investment advice. It is important to note that cryptocurrency is a highly volatile and speculative market, and there is no guarantee of profit or loss. This review is based on the author’s personal experience and research, and individual results may vary. The author is not affiliated with any of the exchanges mentioned in this review and does not receive compensation for their mention. It is recommended that readers conduct their own due diligence and consult with a financial advisor before making any investment decisions.
The information regarding performance may be different from the time of publication. Past performance does not guarantee future results. While we believe that all content was accurate at the time of posting, it is possible that some offers included in the content may no longer be valid.
