Coinbase is known as one of the easiest to use cryptocurrency exchanges in the world.
In October 2022, Coinbase relaunched in Australia with a suite of upgrades for Aussie traders – most notably AUD deposits and withdrawals.
The highly-anticipated overhaul makes Coinbase a much more attractive option for Aussie traders than its previous rendition, but it’s still up against some stiff competition.
The globally-renowned crypto trading platform has become a popular choice for beginner and advanced crypto users alike – and with good reason. Its UX is second to none. It is simple to sign up, navigate the exchange and start trading.
Newcomers will appreciate being able to make instant Australian dollar purchases from a linked debit card or use PayID to make free AUD deposits and withdrawals.
A full-featured app, NFT marketplace and even a pioneering learn-to-earn feature have all helped Coinbase stand out in what’s becoming a crowded marketplace
| Product Name | Coinbase Australia |
| Fiat Currencies | GBP, AUD, SGD, CAD, BRL, USD, EUR |
| Cryptocurrencies | BTC, ETH, XRP, USDT, SOL, USDC, DOGE, ADA, LINK, XLM & 378 more |
| Deposit Methods |
Bank transfer Cryptocurrency Debit card PayPal |
| Trading Fee | Maker fee: 0.40%Taker fee: 0.60% |
| Deposit Fees |
AUD: None using bank transfer or PayID Cryptocurrency: None |
| Withdrawal Fees |
AUD: None Cryptocurrency: Fees vary |
Coinbase is a San Francisco-based cryptocurrency exchange platform launched in 2012 by computer engineer Brian Armstrong and Goldman Sachs trader Fred Ehrsam.
At first, Bitcoin was the only asset Coinbase supported. However, the exchange now supports 310+ digital assets and has features such as spending, trading and earning.
Coinbase is the largest cryptocurrency exchange in the United States. In April 2021, Coinbase became the first crypto exchange to go public. It trades on the Nasdaq under the ticker COIN.
Coinbase supports over 387 cryptocurrencies, but some notable assets are missing. Namely, TRON, Lido Staked Ether and Wrapped Bitcoin, which are in the top 20 cryptos by market cap. In total, 15 of the top 20 cryptos are available on Coinbase.
Popular assets on Coinbase| Transaction type | Fee |
|---|---|
| Deposit funds | AUD: None using bank transfer or PayID Cryptocurrency: None |
| Withdraw funds | AUD: None Cryptocurrency: Fees vary |
Coinbase uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.
| Type | Fee |
|---|---|
| Maker | 0.40% |
| Taker | 0.60% |
Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.
Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.
Before you can get started trading on Coinbase, you'll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).
The Coinbase app is available for download on Google Play (Android) and the App Store (iOS). The mobile app features all functionality available on the website, condensed into a streamlined UI.
The app is simple to navigate and offers a beginner-friendly experience. Once your account is verified, you can log in to start trading, earning and exploring the platform.
The trading charts available on the mobile app are less comprehensive than the desktop version and some competitor exchanges.
| App store | Rating | Total reviews |
|---|---|---|
| Google Play | 4.3 stars | 907k reviews with 50m downloads |
| Apple Store | 4.5 stars | 31.3k reviews |
Coinbase is trusted by over 103 million users worldwide and focuses on exchange and customer asset security.
Coinbase uses state-of-the-art encryption and does not lend customer assets without permission.
Coinbase undergoes regular security audits and has insurance policies to protect the assets it custodies.
Past hacks. In October 2021, hackers used phished credentials to exploit a flaw in Coinbase's SMS account recovery procedure and steal funds from at least 6,000 customers.
Security audits. In 2020, Coinbase invited security audit firm Grant Thornton to carry out 2 security evaluations. Coinbase Custody, the cryptocurrency custody arm of the exchange, received a Service Organisation Control (SOC) 1 Type 2 and SOC 2 Type 2 audit.
The company said it would continue engaging with audit companies to conduct the SOC audits. By doing so, the company hopes to show clients that it is compliant with various security standards.
Regulation. Coinbase Australia is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to provide digital currency exchange services to Australian customers.
All centralised exchanges, including Coinbase, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $99 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
The Coinbase help page offers answers to many frequently asked questions and can help solve common problems.
If you require additional support, the exchange has a 24/7 in-app messaging feature.
Coinbase has a rating of 3.9 out of 5 on Trustpilot, based on 18,998 reviews.
We currently don't have that product, but here are others to consider:
How we picked these
Coinbase won the award for 'Digital Currencies & Web3 Innovation' in the 2023 Innovation Awards.
Full list of 2023 winners
Billy Finder
Cryptocurrency writer
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Sarah Megginson Finder
January 17, 2025
Hi David,
Looking at Coinbase’s support page, you need to be logged in to contact them for customer support. You can access their help centre here. Best of luck!
Dbg
June 08, 2018
Hey i am fr Australia and I want to know that GDAX which is now coinbase PRO, can i trade bitcoin in gdax or coinbase pro being Australian citizen? And also one more thing, if i buy or sell bitcoin through my Australia bank account is there any TAX i have to pay for trading cryptocurrency?
Arnold
June 08, 2018
Hi Dbg,
Thanks for your inquiry.
Yes, you are able to trade with GDAX in Australia. GDAX currently operates in Australia, the United States, Europe (including the UK), Canada, and Singapore. However, GDAX currently only offers limited crypto-to-crypto pairs in Australia: ETH/BTC and LTC/BTC
All traders using GDAX have the responsibility to self-report and pay taxes on
all taxable gains. It would be best to consult with your accountant or tax advisor to ensure that you file
and pay taxes correctly.
Learn more about GDAX, how it works and its corresponding fees.
Hope this information helps
Cheers,
Arnold
Igor
December 26, 2017
Can I purchase other cryptocurrency or just what is listed in your app?
Joanne Finder
December 28, 2017
Hi Igor,
Thank you for visiting finder, we are an Australian financial comparison website and general information service.
The digital Currencies or other tokens that are not listed on their page are not supported by Coinbase. Coinbase is unable to process any transaction made using an unsupported Digital Currency.
Hope this helps,
Joanne
cathy
December 23, 2017
How do I cash in LTC from coinbase if I live in Australia?
Arnold
December 28, 2017
Hi Lisa,
Thanks for your inquiry.
I’m afraid the option to sell your coins directly with Coinbase is not yet available. You can learn more about how to sell your bitcoins in Australia and to know which cryptocurrency exchange supports this. Some of the exchanges on the page will allow you to deposits in AUD. Once someone decides to buy your coins the transfers can be made automatically.
Hope this information helps
Cheers,
Arnold
Lisa
December 17, 2017
Hi – I am in Australia using an Australian Bank account. I want to understand – if I cannot cash out in Australian Dollars what does that mean in terms of getting the money out? Can I cash out in USD and then still send it to my Australian Bank Account? Thanks.
Arnold
December 22, 2017
Hi Lisa,
Thanks for your inquiry.
The option to sell your coins directly with Coinbase is not yet available. You can learn more on how to sell your bitcoins in Australia and to know which cryptocurrency exchange supports this. Some of the exchanges on the page will allow you to deposits in AUD. Once someone decides to buy your coins the transfers can be made automatically.
Hope this information helps
Cheers,
Arnold
David Beadle
January 17, 2025
How can I get to speak with someone from Coinbase ?