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To help navigate the complicated world of crypto, we've launched a comprehensive review of cryptocurrency exchanges available in Australia. The goal is to recognise and award exchanges that excel in one of the following categories: Beginners, Value, Features, Altcoins and Trading.
These awards are then used to inform our "Top Pick" selections across many of our cryptocurrency guides.
Set up by Finder's data scientists and cryptocurrency experts, exchanges are scored on a set of criteria. The criteria are weighted differently for each award. The exchange that scored highest in each award was named as the winner, with the exchanges that scored second and third highest each receiving the runner up award.
In the event of a tie, standardised fee data was used to determine a winner, with the lowest fees dictating the winner.
Awards are based on a comprehensive list of 69 individual criteria that broadly fall into one of the following 7 categories: value for money, coins available, beginner-friendly, advanced features and trading, customer support, security and regulation.
Each individual criterion received a weighting, which varied depending on the award. Each award has a unique combination of weightings.
For instance, criteria that related to fees were up-weighted for the "Value" award, while criteria related to derivatives products received a weighting of zero for that award.
The weighting of each category for individual awards is outlined below.
This award attempts to capture a wide range of factors that all ladder back up to a beginner-friendly experience for users.
This award focuses heavily on fee data, which is further balanced by beginner-friendly features such as local fiat currency support to award exchanges that provide a cost-effective purchasing experience.
This award looks to spotlight exchanges that offer a broad range of features on top of the standard trading experience, such as lending products, derivatives and NFT markets.
This award focuses heavily on the number of coins and tokens available on the exchange in addition to liquidity and trading pairs.
This award takes into account advanced trading features such as order types and derivatives as well as regulatory requirements and liquidity.
The "Australian cryptocurrency exchange (overall)" award was given to the exchange that had the highest average score across each of the 5 awards. Each award score was evenly weighted to contribute 20% of the overall score.
Criteria and weightings were chosen by an expert panel of Finder crew including data analysts and editorial staff. They took into account user experience, industry standards and regulatory requirements to help inform their decisions.
No, but we're trying our best to make that happen. Because it takes a long time to source and properly analyse exchange fees and features, and it's important that we don't share misinformation, we're not able to cover 100% of the market.
However, this list of exchanges accounts for the bulk of retail spot trading activity in Australia and represents the majority of popular and well-regarded providers.
A total of 33 exchanges were invited to participate in the awards and provide data. They were selected based on meeting existing due diligence criteria, which allowed them to be included in Finder's cryptocurrency product tables.
Exchanges were given 6 weeks to respond to our invitation and provide data. Exchanges that did not reply were approached a second time. Exchanges that did not respond, or chose to decline, were excluded from the awards. Only exchanges that provided data were included in the awards.
Exchanges that are not registered with AUSTRAC were not eligible to participate.
Our top picks are displayed at the top of many of our cryptocurrency guides and feature 3-5 "Best for X" categories.
The exchanges are awarded titles using the methodology above and from time to time may also include some "Promoted Picks", which have been chosen from among our commercial partners based on factors that include special features or offers and the commission we receive.
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