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Lex Exchange cryptocurrency exchange – December 2019 review

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Take advantage of AUD support in a deep liquidity Australia-based cryptocurrency exchange.

  • Great for AUD-to-crypto trading
  • Not so great if you're looking for advanced trading features

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

1

Fiat currencies

18

Cryptocurrencies

Details

Product Name Lex Cryptocurrency Exchange
Fiat Currencies AUD
Cryptocurrencies BTC, BCH, LTC, ETH, XRP, EOS, XLM, ADA, XMR, DASH, IOTA, TRX, NEO, VET, WTC, POWR, OMG, NANO
Deposit Methods Bank transfer (ACH)
Cryptocurrency
POLi
Trading Fee AUD Pairs : 0.55%
BTC PAIRS: 0.22%

Deposit Fees None
Withdrawal Fees AUD: None
Cryptocurrency: Fees vary

Pros

  • Buy/sell 15+ cryptos
  • Deposit AUD
  • KYC/AML compliance
  • No deposit fees

Cons

  • Limited selection of cryptocurrencies
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:

Which fiat and cryptocurrencies are supported?

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

Which payment methods are accepted?

  • Bank transfer (ACH)
  • Cryptocurrency
  • POLi
Go to Lex Cryptocurrency Exchange's website

What's it like to use Lex Exchange?

Fees and limits

Platform trading fees

Listed trading fees include GST.

Trade type Fee
Between AUD and crypto 0.55%
Crypto to crypto 0.22%

Deposit and withdrawal fees

Deposit fees
Currency Deposit Fee Withdrawal Fee
AUD Free Free
Bitcoin Free 0.0005
Bitcoin Cash Free 0.001
Ether Free 0.001
Litecoin Free 0.005
XRP Free 0.5

Deposit and withdrawal limits

Different verification levels will let you access different limits.

Deposit limits
Verification level Daily limit Weekly limit Monthly limit
Level 1 $0 $0 $0
Level 2 $5,000 $10,000 $20,000
Level 3 $10,000 $30,000 $100,000
Level 4 $10,000 $50,000 $150,000
Withdrawal limits
Verification level Daily limit Weekly limit Monthly limit
1 $0 $0 $0
2 $0 $0 $0
3 $50,000 $100,000 $200,000
4 $200,000 $500,000 $1,000,000

How fast will my funds be available?

Deposits

Clock icon for transfer speed

1-2 days

AUD deposits will typically take one to two days to show up in your account.

Cryptocurrency deposits will typically be processed within a few minutes, depending on the coin.

Withdrawals

Clock icon for transfer speed

Up to 2 days

AUD withdrawals may take one to two days to process.

Cryptocurrency withdrawals will usually complete within minutes, depending on the cryptocurrency.

Is Lex Exchange safe to use?

  • Regulation. Lex Exchange is registered with AUSTRAC and is a member of the Australian Digital Currency Association (ADCA).
  • Verification process. In line with its AML/KYC obligations, Lex Exchange requires users to get verified.
  • Security features. Lex Exchange says it protects user funds with industry leading wallet management practices, including multi-signature schemes. Two-factor authentication is mandatory for level 4 verification.

How do I create an account at Lex Exchange?

Go to Lex Cryptocurrency Exchange's website

What else do I need to know about Lex Exchange?

Lex Exchange is based in Sydney, Australia, and was founded in mid-2018. It describes itself as being specifically built to exceed the regulatory and legal bare minimums that some other exchanges adhere to.

Its founders and team members come largely from backgrounds in commercial financial products, foreign exchange services and building technological infrastructure for the Australian banking network.

In a nutshell

Pros

  • Supports AUD: Trade fiat for crypto without the unwanted foreign exchange costs.
  • Suits all experience levels: Beginners and more experienced traders can both make use of Lex Exchange.
  • Electronic verification: It's possible to get verified to level 3 in just a few minutes.
  • Australia-based: As a regulated Australian exchange, Lex Exchange offers more reliability than many overseas options.

Cons

  • Mid-range fees: The fees are lower than you'll find with some equivalents, but are still higher than larger crypto-to-crypto exchanges.
  • Coin selection: Although it offers more than just the basic cryptos, Lex Exchange still only offers around 20 different coins.
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Compare Lex Exchange 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

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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