Cryptocurrency exchange

Cryptocurrency Exchange Finder

Where to buy, sell and exchange bitcoin and cryptocurrency to get the best rates.

Exchanges are where you buy and sell cryptocurrencies, so they're an integral part of the market. But no two are alike and it's worth doing your research before picking one.

Learn more about the differences between exchanges and how to choose, or compare exchanges to see what's out there.

Learn more Compare exchanges

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. 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.

CoinSpot Cryptocurrency Marketplace

CoinSpot Cryptocurrency Marketplace

CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.

  • Buy with Australian dollars
  • Huge selection of altcoins available to buy/sell
  • Beginner-friendly interface
  • Fund your account with cash, BPAY and POLi
  • Compliant with AML/CTF laws
Promoted

Compare cryptocurrency exchanges available in Australia

Name Product Deposit methods Fiat Currencies Available Cryptocurrencies
Cash, BPAY, POLi, Cryptocurrency
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG & over 60+ more
CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Electronic Funds Transfer, SWIFT, Cryptocurrency
AUD, NZD, USD
BTC, BCH, ETH, LTC
Trade AUD and other fiat currencies against BTC, BCH or ETH at competitive rates.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.
Bank transfer, POLi, Cash deposit* *Westpac Bank branches only
AUD, GBP, USD
BTC, BCH, ETH, LTC, XRP, NEO
HiveEx.com is a global over-the-counter (OTC) cryptocurrency brokerage specialising in high-volume trades of $10,000+.
Hive Empire Trading Pty Ltd is a related party of Hive Empire, which owns finder.com.au.
Cryptocurrency
-
BTC, ETH, HT, LTC, BCH, XRP, DASH, IOST, EOS, TRX, ETC, OCN, ONT, ELF, ABT, CMT, ELA, ZEC, PROPY, OMG & 75+ more
Huobi.pro is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Credit card, Debit card, SWIFT, SEPA, Cryptocurrency
USD, EUR, RUB, GBP
BTC, DASH, ETH, XRP, ZEC
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Cash, Electronic Funds Transfer, POLi
AUD
BTC, BCH, ETH, ETC, LTC, DASH, XMR, XRP, ANT, REP, BNT, BAT, BTS, BLK, CVC, CLAM, DCR, DGB, DGD, DOGE & 35+ more
Buy a variety of cryptocurrencies through an Australian exchange platform through POLi, Cash or Electronic Funds Transfer.
Ethfinex Cryptocurrency Exchange
Ethfinex Cryptocurrency Exchange
Cryptocurrency
-
OMG, TRX, ZRX, SAN, AID, BAT, SNT, QSH, REP, DAT, TNB, RLC, EDO, AVT, ELF, FUN, GNT, RCN, YYW, SPK, MNA, SNG, IOST
With a focus on tokens linked to the Ethereum network, Ethfinex is an exchange listing several ERC-20 compatible tokens and is owned by the team behind Bitfinex.
Cryptocurrency, Bank transfers
AUD, NZD
BTC, ETH, LTC, XRP, POWR
A cryptocurrency exchange that supports Australian and New Zealand customers, where users can pay in NZD and transactions in AUD have no withdrawal or deposit fees.
Cryptocurrency, Wire Transfer
New account holders must now deposit fiat/crypto equivalent to US$10,000 to trade.
USD, EUR
BTC, BCH, BTG, TRX, GNT, AVT, DASH, DATA, EDO, EOS, ETC, ETH, ETP, LTC, MIOTA, NEO, OMG, QTUM, SAN, USDT, XMR, XRP, ZEC, BAT, ZRX, FUN, MANA, SPANK, TNB, RLC, RCN, REP, ELF, AID, SNGLS, SNT, QASH, YOYO, MITH
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Cryptocurrency
-
BTC, BCH, KCS, DRGN, DBC, XRB, ETH, PRL, LTC, SNOV, DENT, RPX, QLC, NEO, UTK, BNTY, ACT, POE, UKG, LA, LEND, VEN & 50+ more
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Credit card, Debit card
USD, EUR, RUB
BTC, BTG, BURST, BYC, CANN, CFI, CLAM, CLOAK, CLUB, COVAL, CPC, CRB, CRW, CURE, CVC, DASH, DCR, DCT, DGB, DMD, DNT, DOGE, DOPE & 140+ more
Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
Credit card, Debit card
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC, BCH, ETH, LTC
Buy and sell bitcoin, Ethereum, Litecoin and Bitcoin Cash on one of the world's most renowned cryptocurrency exchanges.
Cryptocurrency, Bank transfer
JPY, USD, SGD, AUD, EUR, CNY, PHP, HKD, INR
BTC, ETH, QASH, XRP, BCH, NEO, UBTC, RKT, QTUM, BCH, DASH
A global exchange which offers users both cryptocurrency and fiat currency deposit options.
Cash, Credit card, Debit card
USD, EUR
BTC, ETH, BCH, LTC, ADA
Use USD/EUR to buy bitcoin and Ether with credit card or cash on the Coinmama cryptocurrency exchange.
Credit card, Debit card, Neosurf, Cashlib, Trustpay, ePay
USD, EUR, GBP, JPY, CNY, KRW, AUD, CAD, DKK, NOK, SEK, TRY, HKD, SGD
BTC, ETH, XRP, DASH, LTC, BCH, ETC, OMG, ZRX, CVC, BNT
Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
Cryptocurrency
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BTC, BCH, DRG, UKG, ENJ, TRX, LDC, MGO, AMLT, EZT, LALA, IPSX, FLIXX, STU, 1WO, TPAY, ETH, WIN, LTC, SPHTX, RKT, UBTC, ETN, ECH, QASH, NEO, HAV, XRP, ETC, STAC, FLUZ, VZT, XEM, XLM, VET, BMC, ONG, FDX, XMR, DENT, MCO, IND, GAT, ZEC, CAN, STX, QTUM, OAX, IXT, STORJ, MTN, REP, FCT, DASH
Owned by the team behind QUOINEX, QRYPTOS is a global crypto-to-crypto platform which supports over 50 cryptocurrencies and offers negative trading maker fees to generate liquidity.
Credit card, Debit card, Cryptocurrency, Perfect Money, SEPA, Wire Transfer, Payza, CryptoCapital, Money Polo, Payeer, Giropay, Yandex Money & more
USD, EUR, RUB, PLN, UAH
BTC, BCH, ETH, ETC, XRP, KICK, DASH, WAVES, ZEC, XMR, LTC, DOGE, USDT
A UK-based cryptocurrency platform that provides buyers with a wide variety of payment options.
MoneyGram, Perfect Money, Western Union, Cryptocurrency, OKPAY
USD, EUR, RUB
BTC, ETH, LTC
Buy and sell crypto and other digital currencies on this global fixed-rate exchange.
Cryptocurrency, Payeer, Perfect Money, Qiwi
USD, EUR, RUB
BTC, BCH, ETH, LSK, LTC, XMR, XEM, DASH, BCC, DBIX, CLOAK, EMC, NEO, TIME, SHIFT, STRAT, DOGE, DTR, DGB, VOX, ESC, MONA & 140+ more
Trade at an exchange that has an extensive offering over 160 coins and numerous fiat and altcoin currency pairs.
Cryptocurrency *Powered by atomic swaps
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*Note that while the platform is under development, it is expected to support BTC, ETH, REP, ANT, BAT, EOS, SALT, CVC, DNT, SNT & 20+ more
Launching in 2018, Altcoin.io is a decentralised peer-to-peer cryptocurrency exchange powered by atomic swaps. Sign up now for early access.
Cryptocurrency
-
BTC, BTG, ETH, ETC, DASH, XRP, DOGE, XEM, LTC, XLM, NEO, ADA, EOS, QTUM, XMR, TRX, BCC, XVG, LSK, GEO & 250+ more
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Bank transfer, Cash*, Cryptocurrency *Cash deposits only available at NAB branches
AUD
BTC
Spendher is an app founded in Australia which aims to streamline buying and selling bitcoins on your mobile, offering options to deposit AUD through bank transfer or cash deposits.
Credit card, Debit card
USD, EUR
BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC & 70+ more
Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
Wire Transfer, Cryptocurrency, Express Polish Post Office 24/7, Express ?abka Market, Express DotPay
USD, EUR, PLN
BTC, BCC, BTG, LTC, ETH, LSK, GAME, DASH, KZC, XRP, XIN
This Polish-based exchange offers a variety of accessible payment methods, including Express Polish Post Office 24/7 service and Express DotPay.
Credit card, Debit card, OKPAY, PayPal, Skrill, SOFORT
EUR, USD, CHF, GBP
BTC
Buy bitcoin through PayPal on one of the oldest virtual currency exchanges in the business.
Cryptocurrency, Payeer, AdvCash, Perfect Money, Capitalist, QIWI* Only available for RUB deposits
USD, RUB
BTC, BTG, DASH, ETH, LTC, DOGE, WAVES, LSK, BCC, TRX, NANOX, PAC, ZEC, XVG, EOS, ETC, RDD, TOKC, B2X, TTC & 400+ more
Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Cryptocurrency, SEPA, SOFORT, MoneyPolo, Bank Wire* Domestic wire for CZK and PLN, SEPA only for EUR
EUR, PLN, CZK
BTC, BCH, LTC
Trade fiat currencies and cryptocurrency at this European-based exchange with options to pay through domestic bank wire, SEPA and SOFORT.
Bank account, Credit card, Debit card, eCheck, PayPal
USD
BTC
Buy bitcoin instantly with credit card, PayPal or bank account on this peer-to-peer lending platform.
OKPay, PerfectMoney, Yandex Money, Payeer, QIWI, Cryptocurrency
USD, EUR, RUB
BTC, XRB, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX, DSR, XCPO, LTC, VERI, LOC, NUA, PKT, PPT, ICO & 80+ more
Supporting over 100 coins, you can exchange a variety of cryptocurrency pairs on this peer-to-peer platform.
Cryptocurrency, Bank transfer
AUD
BTC, BCH, ETH, HSR, EET, DASH, FUEL, UBTC
An Australian cryptocurrency exchange, ACX enables you to buy bitcoin and other cryptocurrencies with AUD bank deposits.
Cryptocurrency
-
BTC, ETH, 18T, BUT, LXT, CDC, UUU, AAC, CNN, UIP, UC, GSC, IIC, MEX, EGCC, SHE
Owned by the team behind Huobi.pro, HADAX lets users vote for cryptocurrencies it should list.
Cash, Credit card, Cryptocurrency, Debit card, Flexepin, Neosurf, Neteller, M-PESA, PayPal, Perfect Money, WebMoney, Western Union, iDEAL, SEPA, Skrill, SWIFT
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC
Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
Cryptocurrency
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BTC, BTG, DASH, ZET, XVP, XPM, WDC, VTC, VRC, UNO, TROLL, START, SLR, SLG, RDD, QTUM, PPC, POT, OK, NVC, NMC, NLG, NEOS & 25+ more
Trade an array of cryptocurrencies through this globally accessible exchange based in Brazil.
Cryptocurrency
-
BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT & 500+ more
Buy and sell hundreds of cryptocurrencies with minimal verification on this all-in-one, New Zealand-based exchange.
Electronic Funds Transfer, SEPA, Wire Transfer *payment methods vary per country
USD, EUR, GBP, JPY, CAD
BTC, BCH, ETH, ETC, XMR, DASH, LTC, XRP, XLM, REP, ICN, MLN, ZEC, USDT, GNO, EOS
Exchange multiple cryptocurrencies through a range of payment methods, including Electronic Funds Transfer, SEPA or Wire Transfer.
ACH Bank Transfer, Wire Transfer, SEPA * payment methods vary depending on fiat currency
USD, EUR, GBP
BTC, BCH, ETH, LTC
Buy and sell cryptocurrency at this US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
Cryptocurrency
-
BTC, ETH, XVG, SC, XRP, DOGE, STRAT, XMR, ADA, OMG, ETC, BCC, XLM, DGB, UKG, QTUM, ZCL, RDD, LTC, NEO & 120+ more
Buy from one of the largest crypto to crypto exchanges with a selection of over 190+ cryptocurrencies.
Cryptocurrency
-
BTC, ETH, XRP, DOGE, XLM, ETC, STRAT, LTC, SC, DGB, BCH, LSK, XMR & 50 more
Trade various coins through a global crypto to crypto exchange based in the US.
Debit card, Credit card, Cryptocurrency, SEPA, Wire transfer, AstroPay
USD, EUR
BTC, BCH, LTC, ETH, XRP
A global cryptocurrency exchange that facilitates crypto to fiat transactions, where you can use EUR or USD to buy bitcoin and popular altcoins.
Bank transfer, BPAY, POLi
AUD
BTC, BCH, ETH, ETC, LTC, XRP
Browse the various coin offerings of this Australian based exchange, where coins can be purchased through AUD, LTC and BTC currencies.
Cash, POLi, Flexepin
AUD
BTC, ETH
Buy cryptocurrency from an Australian service through cash, POLi or Flexepin vouchers.
Credit card, Debit card, POLi, Cryptocurrency
AUD
BTC
Buy and sell on a platform based in Australia which sources bitcoin from all around the world.
POLi
AUD
BTC
Buy and sell bitcoin in AUD through POLi when using this exchange based in Australia.
Cryptocurrency
-
BTC, USDT, ETH, EOS, AE, BTO, BTS, CAN, HLC, SEER, XAS
Recently launched in Australia in late 2017, XBrick now offers its services globally and users can download its mobile trading platform to buy and sell cryptocurrencies.
Cryptocurrency
-
XLM, BTC, BCH, USDT, OMG, ZRX, KIN, MOBI & more
Stellarport taps into the Stellar Decentralised Exchange to provide buyers and sellers with access to XLM and various other cryptocurrencies.
Cash
AUD
BTC
An Australian bitcoin broker which offers quick and simple trading where no signup is required.
Credit card, Debit card, SEPA, SOFORT, SWIFT, Skrill, Dotpay, Unionpay
AUD, USD, EUR, SEK, HUF, JPY, GBP, NOK, HRK, CAD, CNY, CHF, CZK, RSD, TRY, BRL, DKK, PLN, RUB, ARS
BTC
Offering payment options such as credit card, SEPA and SWIFT, you can purchase bitcoin from this European-based exchange with an array of fiat currencies.
Cryptocurrency, Wire transfer
KRW
BTC, BTG, BCH, DASH, ETC, LTC, EOS, XRP, ETH, QTUM, TRX, ICX, VEN, XMR, ZEC, MITH
A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Cryptocurrency, Wire Transfer
USD
TAAS, GNO, ANT, 1ST, HKN, BBT, WRC, AMM, OROC, CHSB, GLBX, BENJA
Orderbook is a decentralised cryptocurrency exchange and ICO platform where users can trade Ethereum-based ICO tokens.
Credit card, Debit card, Bank Transfer *GBP bank transfers halted
GBP, EUR
BTC
Buy and sell bitcoin in GBP or EUR with credit card, debit card and bank transfer payment options.
Cryptocurrency
-
BTC, BCH, RVN, LTC, ALQO, LCC, ECA, SMART, POLIS, BCO, COLX, IC, XP, BWK, HTML, QBIC, ZNY, DOGE, XSH, DASH & over 40+ more
Offering over 80 cryptocurrency pairings, CryptoBridge is a decentralised exchange that supports the trading of popular altcoins.
Cryptocurrency
-
BTC, BCH, BTG, ETH, ETC, FUN, 1ST, ANT, BAT, BNT, BLK, CVC, CLAM, DASH, DCR, DGB, DNT, DOGE, EDG, EOS, FCT, GAME & 25+ more
A global exchange where no account is needed to begin trading cryptocurrency to cryptocurrency.
PayPal, Moneygram, OKPAY, Perfect Money, SEPA, WebMoney, Western Union, Wire Transfer, Paxum, QIWI, Payeer
EUR, USD
BTC, ETH, ETC, ZEC
Cryptonit is a secure platform for trading fiat currency for bitcoin, Litecoin, Peercoin and other cryptocurrencies — delivered to the digital wallet of choice.
Cash
USD, AUD, GPB, CAD
BTC, DASH
Buy bitcoin and DASH through this peer-to-peer cash only cryptocurrency exchange based in the US.

Compare up to 4 providers

Name Product Payment Methods Supported Fiat Currencies Cryptocurrencies Minimum Deposit
Credit card, Debit card, POLi, BPAY, Bank transfer
AUD, GBP, USD, JPY, EUR, CAD, CHF
BTC, ETH, XRP
None
Losses can exceed deposits.
A trading platform which offers cryptocurrency CFDs where traders speculate on the price movement of cryptocurrencies such as BTC, ETH and XRP.
Credit card, Debit card, Neteller, PayPal, Skrill, WebMoney, Yandex Money
USD
BTC, BCH, DASH, ETC, ETH, LTC, XRP
USD$200-$500
Losses can exceed deposits.
Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Credit card, Debit card, Electronic Funds Transfer, Neteller, SOFORT, Skrill, iDeal, WeChatPay, Giropay, China Union Pay & more
USD
BTC, ETH, XRP
0.25 BTC, 1000 XRP, or 1 ETH
Losses can exceed deposits.
This online trading platform based in Poland, Cyprus and Australia offers several deposit methods for international users.
Credit card, Debit card, BPAY, Electronic Funds Transfer
EUR, USD, AUD, JPY, GBP
BTC, ETH, LTC, XRP
None
Losses can exceed deposits.
A trading platform offering CFDs and margin trading where users can trade the value of cryptocurrencies through a broker without storing or owning tokens.
Credit card, Debit card, BPAY, POLi, Neteller, PayPal, China UnionPay, Wire Transfer, Fasapay, Qiwi, Skrill, WebMoney
AUD, EUR, CAD, CHF, GBP, JPY, NZD, SGD, USD, HKD
BTC, BCH, ETH, LTC, DASH, XRP
USD$200
Losses can exceed deposits.
As a forex and CFD trading platform based in Australia, Pepperstone gives local and international users access to trade cryptocurrency against USD.
Cryptocurrency
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BTC, BCH, ADA, DASH, ETH, ETC, LTC, XMR, XRP, XLM, ZEC
Varies
Losses can exceed deposits.
Trade cryptocurrency derivatives with high liquidity for bitcoin spot and futures, and up to 100% leverage on margin trading.
Credit card, Debit card, Wire transfer, Credit vouchers (POLi, Neteller, SEPA, Giropay, Skrill & more)
GBP, EUR
BTC, LTC, ETH, XRP, XMR, DASH, NXT, ETC, ZEC, GNT
EUR€300
Losses can exceed deposits.
An international trading platform which offers Cryptocurrency CFDs, enabling users access to several main cryptocurrencies.

Compare up to 4 providers

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HiveEx.com is an over-the-counter (OTC) cryptocurrency platform specialising in high-volume trades.

  • Tap into HiveEx.com’s global network of high liquidity trading partners
  • Trade between $10,000 and $100 million for a fixed price
  • Access competitive rates compared to traditional exchange trading
  • Receive your coins in your wallet fast, with same day settlement options
  • As an AUSTRAC registered company, HiveEx.com is fully compliant with industry-standard AML and CTF obligations

What is an exchange?

Online exchanges are much like their brick-and-mortar counterparts. They let you convert one currency to another. In the case of cryptocurrencies this might be converting fiat currency (AUD, USD, EUR, etc.) to a cryptocurrency, or trading one cryptocurrency for another.

To use an exchange, you usually need to do the following:

  1. Create an account. In many cases you'll also need to verify your identity by providing a copy of your driver's licence or other proof.
  2. Deposit funds into your account. You usually need to have funds in your account to start trading.
  3. Withdraw your funds when ready. For security reasons, it's standard practice to withdraw and hold funds yourself, instead of keeping it in your account on the exchange.

Exchanges will differ in the following ways:

  • The coins they carry. Some exchanges only sell bitcoin, while others might let you trade dozens of different cryptocurrencies. Sometimes a coin will only be available on one or two exchanges.
  • Whether they support fiat currency. Some of the largest exchanges only deal with cryptocurrencies and don't let you deposit or withdraw fiat currencies.
  • The fees they charge. The two main types of fees are those charged for trading and for making deposits or withdrawals from your account. The best value for money option will depend on your specific plans. For example, you might find different withdrawal fees for different coins or trading fees that change vary by volume.
  • What type of exchange they are. There are three main types of exchange, and each is quite different. Knowing these can make it easier to compare exchanges at a glance and rule out the ones you're not interested in.

The three different types of exchanges

While each has its own method of doing things, exchanges generally fall into one of three different categories:

  • Brokers
  • Trading platforms
  • Direct P2P

Brokers

Bitcoin broker

A broker is the most similar to a regular brick-and-mortar store. It's just like buying cryptocurrency from a cryptocurrency shop. Brokers purchase coins "wholesale" from exchanges, put a price tag on it and then sell it on to their own customers.

Brokers can be a quick and simple option, but they also tend to be one of the more expensive ones.

Trading platforms

Bitcoin trading

This is the most widely used option, and what most people refer to when they talk about an exchange.

These let users buy and sell currencies with each other, and will also frequently have charting software and advanced trade functions such as order limits.

By definition, you always pay market rates at an exchange because the market rate is however much you're paying. The "official" value of a coin is based on an average of the most recent buying and selling prices at dozens of the world's largest trading platforms.

Direct P2P

P2P crypto exchange

These P2P (peer to peer) exchanges are like middlemen, connecting buyers and sellers to let people trade however they want. It's basically a place for people to advertise the coins they're selling to anyone who wants to buy.

The main advantage is that these let you quickly and anonymously buy or sell coins with almost any kind of trade or payment method you want. The downside is that you'll often pay above market prices, and it can also be riskier than other options.

To help offset the risks, some will have built-in escrow features and reputation systems to identify reliable and legitimate buyers and sellers.

Exchange fees

There are three main types of fees that might be incurred on an exchange.

  • Deposit fees. Fees for depositing funds into your account. These are usually not charged by the exchange itself, but rather your bank, credit card, money transfer or wallet provider as the cost of a transfer. If you'll be converting currencies too, such as from AUD to USD, this will also usually cost more.
  • Trading fees. The fee for making a trade itself, usually charged as a percentage of the total trade volume. You'll often get charged around 3% commission by brokers or might pay 0.1% to 0.5% in fees per trade on other exchanges.
  • Withdrawal fees. These are fees for withdrawing funds from the exchange to your own wallet or bank account. They usually depend on the type of currency being withdrawn and are charged as a flat amount to help cover the exchange's transfer costs for sending you the money.

The best value for money exchange will depend on the currencies you're trading, your planned trade volume, how frequently you'll be making withdrawals and the coin prices themselves. For example, you might end up with better value for money at a seemingly expensive exchange that accepts AUD simply because it lets you avoid currency conversion costs.

Compare exchanges

Cryptocurrency exchange

Step-by-step guide: How do I exchange fiat for crypto?

Exchanges typically have their own specific process of converting fiat currency to cryptocurrency and back, but the general process remains the same. We’ll use a fictitious exchange called LiteExch as an example.

  1. Let’s say you have $100 to purchase Litecoin. You’ve shopped around and chose LiteExch for your exchange. You like their interface, they carry Litecoin (LTC), they have low fees and a lot of good reviews.
  2. After creating an account with LiteExch you are asked to upload a photo of your passport or driving licence for verification. You go through the process and get verified. Now you’re ready to buy some Litecoin.
  3. You find the Buy/Sell section on LiteExch’s website and you select “Buy” (because you’re buying Litecoin), choosing AUD as your source currency and LTC for the currency being purchased.
  4. Next you enter $100 into the amount input field, enter your credit card details and click the “Next” button.
  5. LiteExch now shows you the fees. LiteExch charges 1%, with a $1.50 minimum. Because you’re only buying $100 worth of LTC, 1% would come out to $1.00, so you will be charged the minimum of $1.50 instead.
  6. The amount of LTC which you will be buying is now shown on your screen. While LTC is trading at $62.50/LTC, you will not be buying 1.600 LTC. Instead you will be getting 1.576 LTC because the exchange will keep $1.50 of your initial $100.
  7. After proceeding with the payment, you now have 1.576 LTC in your exchange wallet.

Exchanging cryptocurrency back to fiat is precisely the same as the above process, but with the currencies reversed.

Choosing an exchange and what to look for

Exchanges come in various shapes and sizes, from those that offer multiple levels of security to exchanges that don’t even ask you to create an account. So when you’re about to choose an exchange, it’s best to look at its features and go from there.

  • The fees

Fees vary widely from exchange to exchange and can pile up if you’re not careful. To find out how much you'll actually be paying, consider running the numbers on a hypothetical trade before the real thing, with the same payment method, volume, coins and withdrawal.

If an exchange does not publicly post its fees, steer away.

  • Payment methods

Exchanges accept all sorts of payment methods, from credit and debit cards to bank transfers, but not all exchanges accept all the various payment options. Also note that some exchanges might accept one payment method for withdrawal, but not for deposits.

Make sure your exchange has deposit and withdrawal options that work for you, and make sure to check the fees associated with different methods.

  • Purchase limits

Exchanges may have limits on how much or how little you can deposit, buy and withdraw at a time. These limits will often vary depending on the transaction method as well as your verification level. For example, someone who's provided notarised proof of identity, address and source of their funds might get unlimited transactions, while someone who's only shown their driver's licence might be restricted to $1,000 a week.

See whether the limits work for your plans.

  • Security

A large exchange might be holding hundreds of millions of dollars worth of cryptocurrency. It's typical for around 99% of it to be held in offline at any given time, but a successful hacker can still become a multi-millionaire by getting that remaining 1%.

Large exchanges tend to be under almost constant attack, and those without effective digital security don't last long. You can assume that prominent exchanges have decent electronic security, but you should still read reviews and make sure an exchange is legitimate.

It's also worth remembering that an exchange which has been hacked in the past isn't necessarily any less secure today. Instead consider how it responded to the hack, and whether all affected users were fairly compensated for any losses.

  • Available coins

Naturally you'll also want to make sure your preferred coins are available. There's not much point in signing up for an exchange that doesn't have what you want.

What’s next?

There's no one best exchange. It all depends on what your plans are.

But once you know what you want, you can work out what you need and can start comparing exchanges that work for you.

Compare exchanges

A-Z of cryptocurrency exchanges

Read more about some of the most popular cryptocurrency exchanges, brokers and P2P lending platforms in one of our comprehensive reviews below.

Frequently asked questions

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6 Responses

  1. Default Gravatar
    AndrewFebruary 13, 2018

    How come Huobi is not shown in your list of Exchanges?

    • Staff
      JoelFebruary 23, 2018Staff

      Hi Andrew,

      Thanks for leaving a question on finder.

      Although we cover a wide range of products, providers and services we don’t cover every product, provider or service available in the market so there may be other options available to you. Thanks for bringing it up, I will forward your message to our team for review and consideration to list Huobi on the page. Our page gets updated every now and then so just continue to check.

      If you need anything else, please send us a message anytime.

      Cheers,
      Joel

  2. Default Gravatar
    LauraFebruary 2, 2018

    Is Luno a wallet? You can buy Bitcoin/ETH on that site. Then do I use one of the exchanges?

  3. Default Gravatar
    TONYJanuary 6, 2018

    I WANT TO NO HOW DO I PURCHASE RIPPLE AND WHERE I WANT TO BUY A COUPLE OF SHARES OF IT BUT FIDELITY DOESN’T HAVE IT AVAILABLE TO BUY RIGHT NOW SO HOW DO I BUY THE STOCK OF RIPPLE?

    • Staff
      JoanneJanuary 6, 2018Staff

      Hi Tony,

      Thank you for visiting finder, we are a financial comparison website and general information service.
      You may visit this page to compare exchanges where you can buy Ripple. This guide goes through what Ripple is, how XRP works, where to buy and what to consider when investing.

      Cheers,
      Joanne

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