To be in a safer environment in the cryptocurrency industry, it is suitable for every trader to use a reliable and regulated cryptocurrency trading platform.
Before we move on to the main topic, I want to take you through some features of a good cryptocurrency trading platform as an Australian or any cryptocurrency trading platform.
They are as follows:
Securities:
Crypto may appear shady to some due to a lack of government regulation and its use on the black market. Most major cryptocurrency trading platforms are aware of this and take significant precautions to protect your personal and financial information and your holdings from theft.
Security features such as two-factor authentication (2FA), encryption, and cold storage should be considered (offline storage to protect against theft and hacking).
Customer Service:
Customer service on cryptocurrency platforms is not always the best. This is unfortunate because if something goes wrong with your account, you'll want a platform that can quickly respond to your needs.If you come across a cryptocurrency trading platform that has received high marks for service, this is a huge benefit that could significantly improve your experience.
Mobile apps:
Although cryptocurrency may be the future currency, not every platform is currently on board with the technology.A robust and user-friendly investment mobile app could help you manage your cryptocurrency account and make trades on the go without having to navigate a cumbersome mobile website.
Fees:
Fees in the industry are likely to standardize and drop as competition increases and risk decreases. For the time being, there is a wide range. You'll usually have to pay a trading fee and potential extra commission costs on a reliable cryptocurrency trading platform.Commission-free trades are available on some exchanges. Platforms may also charge deposits and withdrawals.
These are a few essential features to look out for when choosing a crypto platform to trade with.
3 Best Australian cryptocurrency trading platforms.
Coinbase:
Coinbase is a cryptocurrency trading and investment platform that allows users to buy, sell, and exchange over 100 tradable cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Coinbase is a large corporation with over 89 million users and $278 billion in assets on its platform.Beginners will most likely prefer the original Coinbase platform for simple buy and sell orders. Coinbase Pro, available to all Coinbase users, allows advanced users to access additional features and order types.
Benefits of using Coinbase:
- Simple to use for cryptocurrency newcomers: The main Coinbase website and mobile app are simple to use and allow you to buy, sell, and exchange cryptocurrencies quickly.
- Support for many cryptocurrencies: Coinbase currently supports trading in over 100 currencies, with the number growing regularly.
- Possibilities for earning cryptocurrency: Earn interest on eligible balances or receive a small amount of a new currency via Coinbase Earn.
- Coinbase Pro offers lower pricing: Any user can upgrade to Coinbase Pro, an active trading platform with more features and lower fees.
Binance:
Binance is the world's largest cryptocurrency trading platform. It is not exceptionally user-friendly due to its extensive range of trading options and features. Depending on their expertise and skills, investors may face a steep learning curve with Binance.Binance provides a comprehensive range of trading options via its desktop or mobile dashboards, including an excellent variety of market charts and hundreds of cryptocurrencies. Users can also access some trading alternatives, including futures and options and various order forms.
Benefits:
- Cheap fees: Because the platform has low fees, traders can keep more of their investment and revenues.
- A wide range of trading options and order types are available: Binance provides various trading options, such as peer-to-peer trading, spot trading, and margin trading.
- It also provides a variety of order types, such as limit orders, market orders, stop-limit orders, stop market orders, trailing stop orders, post only orders, and one-cancels-the-other orders.
Swyftx:
Swyftx is one of the most powerful Cryptocurrency trading platforms, combining everything you need into one platform.
Swyftx supports over 290 assets, including Bitcoin, Ethereum, Ripple, Litecoin, and DeFi coins like UniCoin. Our trading platform has low fees and small spreads, allows you to chart all of your favourite cryptocurrencies across multiple currencies on the TradingView, has an unrivalled demo mode for practice trading, exceptional customer support, real-time feeds, and two-factor authentication for added security.
Conclusion:
If you are in Australia and looking for the best cryptocurrency trading platforms, the three explained above will give you the best experience.However, do your research to confirm the information in this article before using any of the cryptocurrency trading platforms recommended in this article.