WHAT MAKES A GOOD BITCOIN EXCHANGE FOR AUSTRALIANS

WHAT MAKES A GOOD BITCOIN EXCHANGE FOR AUSTRALIANS

Bitcoin exchanges are centralized marketplaces where most crypto coins are bought and sold.

Considering these exchanges are responsible for billions of dollars of transactions, picking the wrong exchange can lead to disaster.

I was burned by one of the largest Bitcoin exchange hacks in history – the MtGox hack in 2014 and I learned firsthand the pain of losing everything I had saved on the exchange.

Having been through this experience there are some important considerations when deciding on Bitcoin exchanges.

• History – How long has the exchange been around? Does it have 3rd party auditors?
• Security – What kind of security does the exchange offer? Often, the history of the exchange gives a good insight into the security practices of the exchange. Does the exchange offer 2-factor authentication? If so, use it.
• Fees – What are the trading fees? Often these can be quite high making trading unreasonable.
• Support – Check what the average ticket response time is for support, if it's days or weeks, that’s not a good sign.

Below is a reviewed and ranked list of the best Bitcoin exchanges for Australians.

Name	Exchange Location	Average Daily Volume	3rd Party Auditing	Compliance Certified	Accept AUD	Support	Review
Coinbase	San Francisco, USA	100K BTC	Yes	Yes	Yes	24x7 Ticketing AND Phone support	Here
Binance	Hong Kong	800K BTC	Yes	No	No	24x7 Ticketing	Here
Bitstamp	London, England	280K BTC	Yes	No	No	24x7 Ticketing, Email, AND Phone support	Here
Bitfinex	Hong Kong	700K BTC	No	No	No	Ticket based support system, response times vary	Here
BTCmarkets	Melbourne, Australia	400K BTC	Yes	ADCA Certified	Yes	Email + Tickets	Here
LocalBitcoin	Not centralized Exchange	50K BTC	No	No	Yes	Ticket based support system	Here
Kraken	San Francisco, USA	23K BTC	Yes	Yes	No	Ticket systems for most support	Here