Best Crypto Exchanges For Australians In 2023
Despite the many catastrophes that occurred in the crypto industry over the past year, the demand for cryptocurrency from Australian investors is strong. Chainalysis ranks Australia 40th globally for crypto adoption, and more than one million Australians are expected to include crypto assets on their tax returns for the 2021-22 financial year alone, according to Roy Morgan Research.
Many of these Australians will choose to hold their crypto on an Australian-based or international exchange. Events in the past year have raised concerns about these centralised exchanges and their management of user funds, after one of the industry’s supposed leading lights, FTX, collapsed spectacularly, taking the local arms—FTX Australia and FTX Express—with it.
The fallout of the FTX collapse was felt far and wide. Not only were tens of thousands of Australian creditors left out of pocket, but, in December, local exchange, Digital Surge, also went into administration with more than half of its assets exposed to FTX.
Beyond the public downfalls, the collapse of FTX has generated a sense of unease and uncertainty. While some Australians will undoubtedly opt for alternative storage methods, many will choose to keep their crypto on exchanges. For those Australians, it’s never been more important to understand what to look for in an exchange and how to evaluate the increasing number of exchanges on offer to investors.
This is a comprehensive guide to what we have determined to be the best crypto exchanges at present. In this article, we’ll look at the top exchanges, evaluating them based on a wide range of factors, including their security, fees, ease of use, and the range of available cryptocurrencies. Whether you’re a seasoned crypto trader or just starting out, this article will help you find the best exchange for your needs. Read More..
