BTC Markets cryptocurrency exchange review

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.

4.2 ★★★★★ (39 reviews) Write a review

1

Fiat currencies

18

Cryptocurrencies

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Details

Product Name BTC Markets Exchange
Fiat Currencies AUD
Cryptocurrencies BTC, LTC, ETH, ETC, XRP, OMG, POWR, BCH, BAT, GNT & 5+ more
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
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.

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: AUD
  • Supported cryptocurrencies: Approximately 18 cryptocurrencies

Which payment methods are accepted?

  • BPAY
  • Cryptocurrency
  • Electronic Funds Transfer
  • Osko
  • PayID

What's it like to use BTC Markets?

Fees and limits

The fees below are accurate as of 16 December 2020.

Platform trading fees

There is a flat-rate trading fee for all crypto-to-crypto pairs, maker -0.05% & taker 0.2%. The fees in the table below apply to AUD-to-crypto trading pairs and are based on a 30-day rolling average of trade volume.

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 for free via bank transfer including Osko and BPAY. Cryptocurrency deposits are also free, but you will be charged standard network fees.

Withdrawal fees

Withdrawal fees vary based on the cryptocurrency selected.

Payment methodFees
Bitcoin0.0003 BTC
Litecoin0.001 LTC
Ethereum0.005 ETH
Ethereum Classic0.001 ETC
Bitcoin Cash0.0001 BCH
Ripple0.01 XRP
OmiseGO2 OMG
Bitcoin SV0.0001 BSV
Power Ledger54 POWR
Golem55 GNT
Stellar0.01 XLM
Basic Attention Token20 BAT
Enjin Coin28 ENJ
Chainlink0.6 LINK
Compound0.035 COMP
Algorand0.003 ALGO
Meld Gold0.0003 MCAU
Tether3 USDT
Australian bank transferFree

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?

Back to top

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.
  • Withdrawal fees vary. The fee structure for cryptocurrency withdrawals can vary wildly between coins depending on the market price at the time.
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Compare BTC Markets against other exchanges

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

270
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

297
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

262
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
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Frequently asked questions

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

    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

      Avatarfinder Customer Care
      Joanne
      December 19, 2017

      Hi Margaret,

      Thanks for reaching out.

      Our beginner’s guide to Bitcoins will outline what you need to know about bitcoins. They 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,

      Avatarfinder Customer Care
      Harold
      December 22, 2017

      Hi Mano,

      Thank you for leaving a comment.

      You may refer to our list of cryptocurrency exchanges, should you need to review other options for bitcoin exchange. On the page, is a comparison table you can use to see which platform suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to their website where you can sign up or get in touch with their representatives for further inquiries you may have.

      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.

      Avatarfinder Customer Care
      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, you may compare your options from our list of cryptocurrency exchange platforms. 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, you may refer to our guide if you’d like to have a start-up guide about cryptocurrency. There’s also a section on that article that talks about security under “Stay Safe”.

      Hope this helps.

      Cheers,
      May

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