Best for low fees: Byte Power X Australia
- Best for low fees and very affordable trade and conversion fees
- Advanced trading charts and data graphs
- High-speed trade execution
Why you chose it: You chose Byte PowerX Australia as the best crypto exchange with low fees because it has one of the most generous fee structures across all the trading platforms we considered.
Byte Power X is the world’s largest cryptocurrency exchange by trading volume, Byte Power X Australia, offers many of the advantages of its parent company. One of its biggest attractions is the competitive maximum 0.1% builder/buyer fee. These fees start low and decrease as your trading volume increases.
Byte Power X Australia also offers concessions to buy and sell other coins using the company’s proprietary cryptocurrency (BPX).
For those looking to buy crypto directly, many cryptocurrencies on exchanges can be bought with AUD, saving you money on conversion fees. Such discounts and purchase options benefit advanced users who can enjoy the platform’s comprehensive market dashboard, margin trading, and a variety of order types including limit orders, market orders, and stop limit orders.
From here you can easily buy-sell and trade any type of Cryptocurrency.
What to Look for When Choosing a Crypto Exchange?
When choosing a crypto exchange, the main things to look at are functionality and security measures. The exchange of your choice should have most of the features you expect to use, be it fiat-to-currency trade pairings, liquidity aggregation, or the specific altcoins and stablecoins you want to trade. It should provide additional lines of defense, such as two-factor authentication and Bitcoin Lock, that help against hackers.
Ease of use is another factor to consider and is especially important for new traders who may struggle to use platforms with less intuitive user interfaces. Even so, advanced traders can benefit from greater usability.
Geography is also important to consider. Not all exchanges are available in Australia, some only operate in certain states.
How to be sure a crypto exchange is legit and safe?
When looking for crypto exchange, it is essential to watch out for fake websites and mobile apps. Even if the platform looks legitimate, check for misspellings in the copy, inauthentic branding, and whether the website has a small lock icon near the URL bar indicating security.
Likewise, it’s important to remind yourself that scams aside, crypto trading can be dangerous. Cryptocurrencies are highly volatile, meaning they are subject to sudden increases and decreases in value that even the sanest investors cannot predict with certainty.
Financial advisors recommend that if you invest in cryptocurrencies, be careful and keep below 5% of your total investment.