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BTC Markets cryptocurrency exchange review

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Buy and sell 10+ popular cryptocurrencies on this Australian exchange.

  • Good for active trading with AUD-to-crypto pairs
  • Not so great for trading fees at lower volumes

Check out our full list of pros and cons or read on.

1

Fiat currencies

12

Cryptocurrencies

Details

Product Name BTC Markets Exchange
Fiat Currencies AUD
Cryptocurrencies BTC, ETH, XRP, LTC, XLM, ETC, OMG, GNT, BAT, POWR, BCHABC, BCHSV
Deposit Methods BPAY
Cryptocurrency
Electronic Funds Transfer
Osko
PayID
Trading Fee Maker Fee: -0.05%
Taker Fee: 0.20%
Deposit Fees None
Withdrawal Fees Australian bank accounts: None
Cryptocurrencies: Fees vary

Pros

  • A simple and effective exchange
  • Offers a range of popular currency pairs for trading
  • Might be a simple way for beginners to start buying cryptocurrency without paying extra for brokerage services
  • Offers a public API programming tool to help automate trades

Cons

  • Trading fees may not be competitive at low trading volumes
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more about BTC Markets:

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: AUD
  • Supported cryptocurrencies: Approximately 12 cryptocurrencies

Which payment methods are accepted?

  • BPAY
  • Cryptocurrency
  • Electronic Funds Transfer
  • Osko
  • PayID
Go to BTC Markets's website

What's it like to use BTC Markets?

Fees and limits

The fees below are accurate as of 15 October 2019.

Platform trading fees

There is a 0.22% trading fee for all crypto-to-crypto pairs, while the fees in the table below apply to AUD-to-crypto trading pairs.

Trading Fee % 30 Day AUD Volume
0.85% $0.01 - $500
0.83% $500.01 - $1,000
0.80% $1,000.01 - $3,000
0.75% $3,000.01 - $9,000
0.70% $9,000.01 - $18,000
0.65% $18,000.01 - $40,000
0.60% $40,000.01 - $60,000
0.55% $60,000.01 - $70,000
0.50% $70,000.01 - $80,000
0.45% $80,000.01 - $90,000
0.40% $90,000.01 - $115,000
0.35% $115,000.01 - $125,000
0.30% $125,000.01 - $200,000
0.25% $200,000.01 - $400,000
0.23% $400,000.01 - $650,000
0.20% $650,000.01 - $850,000
0.18% $850,000.01 - $1,000,000
0.15% $1,000,000.01 - $3,000,000
0.13% $3,000,000.01 - $5,000,000
0.10% > $5,000,000

Deposit and withdrawal fees

Deposit fees

You can make AUD deposits with Osko and BPAY or with cryptocurrency deposits. BTC Markets does not charge any deposit fees.

Withdrawal fees
Payment method Fees
Bitcoin 0.0003 BTC
Litecoin 0.001 LTC
Ethereum 0.001 ETH
Ethereum Classic 0.001 ETC
Bitcoin Cash 0.0001 BCH
Ripple 0.01 XRP
OmiseGO 0.15 OMG
BSV 0.0001 BSV
Power Ledger 5 POWR
Golem 5 GNT
Stellar 0.01 XLM
Basic Attention Token 2.5 BAT
Australian bank transfer Free

How fast will my funds be available?

Deposits

Clock icon for transfer speed

Almost instant

BPAY deposits are generally processed on the same day.

Osko deposits are typically processed within a minute.

Withdrawals

Clock icon for transfer speed

1-3 days

NPP withdrawals are typically processed within a minute.

Direct entry withdrawals are generally processed within 1-3 business days.

Is BTC Markets safe to use?

  • Regulation. BTC Markets was the first exchange to be Gold Certified by Blockchain Australia. BTC Markets is registered as a Digital Currency Exchange with AUSTRAC.
  • Verification process. BTC Markets requires users to get verified for depositing, withdrawing or trading with AUD.
  • Security features. BTC Markets recommends that you withdraw and personally hold any funds you're not using for trading. It was established in 2013 and has not been known to have ever experienced a major hack.

How do I create an account at BTC Markets?

Go to BTC Markets's website
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What else do I need to know about BTC Markets?

BTC Markets has been in operation without incident since 2013. This makes it one of the oldest cryptocurrency exchanges in Australia. It's based in Melbourne.

In a nutshell

Pros

  • Popular coin selection. You'll find a range of popular cryptocurrencies on BTC Markets.
  • Useful features. BTC Markets offers a full-featured trading experience with useful functions such as stop losses.
  • API trading available. BTC Markets is one of the few places you can use automated API trading for AUD-to-crypto pairs.
  • Liquidity. Strong Liquidity in BTC and XRP markets.

Cons

  • Uncompetitive fees. BTC Markets' fees are high compared to some equivalent exchanges, even with the maximum possible fee discount.
  • Limited liquidity on some pairs. Not all available trading pairs are active.
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Compare BTC Markets against other exchanges

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
BPAY
Cash
Cryptocurrency
POLi
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, TRX, DASH & over 120+ more
CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Cryptocurrency
Electronic Funds Transfer
POLi
SWIFT
PayID
AUD, NZD, USD
BTC, BCH, ETH, LTC, XRP, OMG, ZRX, EOS & 3+ more
Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
BPAY
Cryptocurrency
Electronic Funds Transfer
Osko
PayID
AUD
BTC, ETH, XRP, LTC, XLM, ETC, OMG, GNT, BAT, POWR, BCHABC, BCHSV
Browse the various coin offerings of this Australian based exchange, where coins can be purchased using AUD, LTC and BTC.

Compare up to 4 providers

Frequently asked questions

Go to BTC Markets's website
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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6 Comments

  1. Default Gravatar
    Margaret
    December 18, 2017

    Want to buy bitcoin don’t know how to go about it not good with a computer would like to discuss this with a experience and knowledge on how to trade thank you Margaret

    • AvatarStaff
      Joanne
      December 19, 2017

      Hi Margaret,

      Thanks for reaching out.

      This page will outline what you need to know about bitcoins. The page will discuss Bitcoin’s history, how it works, where you can use it among others.

      Reading through the guide will not only save you a few headaches in the long run, but it will give you a greater appreciation of what’s going on behind the scenes.

      Cheers,
      Joanne

    • Default Gravatar
      mano
      December 22, 2017

      BTC market take too long to transfer Coins to Wallets . Im really not happy with it and hope to move out to other exchange ASAP.

      Regards,

    • AvatarStaff
      Harold
      December 22, 2017

      Hi Mano,

      Thank you for your inquiry.

      Should you need to review other options for bitcoin exchange you may want to check and evaluate the options on this page.

      I hope this information has helped.

      Cheers,
      Harold

    • Default Gravatar
      Mahesh
      January 1, 2018

      Its really very confusing to choose the correct platform to start buying crypto currency. Every, exchange has some or the other negative feedback. Can you please suggest the most authentic and has lowest fees. Also, it provides security to the coins in an individual account from theft.

    • AvatarStaff
      May
      January 2, 2018

      Hi Mahesh,

      Thanks for reaching out.

      Indeed it would need a lot of research and comparison when it comes to choosing the exchange platform before you invest/buy cryptocurrency especially that there’s no single guide that covers all you need to know about all cryptocurrencies. Nevertheless, if you are looking for an exchange platform, you may like to visit this page to compare your options. The fees for the crypto transaction also differ from one exchange to another so you might need to visit the official site of the platform to get more details about the fees. You’ll be redirected to the official site by clicking on the ‘Go to site’ button.

      Also, if you’d like to have a start-up guide about cryptocurrency, you might find this article helpful. There’s also a section on that article that talks about security under “Stay Safe”.

      Hope this helps.

      Cheers,
      May

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