AUSTRAC Registered This exchange is registered with AUSTRAC. Digital currency exchange providers in Australia are required to be registered with AUSTRAC. This ensures they must comply with relevant AML and CTF laws or risk facing heavy penalties. You can read more about this on AUSTRAC's website. This registration should not be viewed as an official endorsement or guarantee of services.
Pros
Cons
Quick Summary
| Headquarters Location | Richmond, Melbourne, Australia |
|---|---|
| Fiat Currencies Supported | AUD |
| Total Supported Cryptocurrencies | 35+ |
| Trading Fees | -0.05% - 0.20% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Osko, PayID |
| Support | Facebook, Twitter, Instagram, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Located in Melbourne, BTC Markets is a privately owned trading hub that has rapidly gained popularity for regulatory compliance and unrestricted trade of cryptocurrencies and fiat currencies. Under Caroline Bowler’s guidance, BTC Markets has become one of the pioneers in the DeFi environment, highlighting the increasing importance of crypto assets.
BTC Markets prides itself on delivering an enjoyable and productive user experience. The exchange is designed with an intuitive interface that makes cryptocurrency transactions simple.
With integrated tools from crypto tax specialists to streamline tax reporting processes, many go to BTC Markets as their preferred trading service.
Some of the platform’s offerings include an OTC desk catering to high-volume trades, trading fees structured to incentivize regular market participation, and bank-enabled deposits and withdrawals ensuring swift funds movement.
About BTC Markets
Founded by Martin Bajalan and Jarrod Crane in 2013, BTC Markets is recognized as an Australian exchange with a trustworthy trading platform for digital assets. This pioneering Australian crypto exchange ushered in an era of digital currency trading in Australia. Its status as one of Australia’s oldest cryptocurrency exchanges speaks volumes about its ability to adapt and grow in the crypto industry.
The BTC Markets app is equipped with modern conveniences and provides traders with access to market opportunities. The app ensures users can trade uninterrupted through this established platform, regardless of location.
BTC Markets has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Telegram and YouTube.
BTC Markets has a mobile app on both the Apple App Store and Google Play.
BTC Markets Supported Cryptocurrencies
BTC Markets supports trading on over 35 cryptocurrencies on their platform. This exchange currently supports 15 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies BTC Markets supports
Traders engaging in BTC Markets will encounter a selection of cryptocurrencies supported by the platform, each catering to diverse investment approaches. You see, the exchange is not just a BTC market, as users can choose from some of today’s most popular virtual assets.
Recognizing traders’ need for versatility, BTC Markets offers multiple fiat-to-crypto pairings, such as AUD with various cryptos, facilitating smooth transitions between conventional financial systems and cryptocurrency markets.
Trading Experience
BTC Markets provides an intuitive user interface that simplifies active trading. Users benefit from charts and display choices, which make engaging in market transactions more productive and enjoyable.
Yet even reliable platforms like this one have opportunities to grow. There have been instances where individuals faced obstacles withdrawing their funds on mobile devices, indicating that enhancements in mobile usability could improve the service provided to users further.
Still, satisfaction is a recurring theme among those who trade with BTC Markets. The platform’s features that users commend include ease of use, reliability, straightforward support, and a generally easy withdrawal process. These factors contribute to the positive trading experience in BTC Markets, with trading volume playing a significant role.
One customer’s feedback stands out. They describe a flawless conversion from crypto to Australian dollars followed by a seamless deposit of money into their bank account. This 10/10 experience is echoed by others who have found using BTC Markets intuitive and the selling process quick.
BTC Markets Fees
BTC Markets, known for its transparent and fair pricing model, accommodates various trader activities. The platform presents an escalating structure for AUD/USDT pairs starting, reflecting their support of investment intensity in trading markets. It’s important to highlight that cryptocurrency-only pairings such as ETH-BTC benefit from uniform maker-taker fees, offering simplicity when depositing or withdrawing funds.
Australian users appreciate inclusivity, with all charges being GST-inclusive. This shows that the exchange ensures clarity in its charging framework for deposit and withdrawal fees or any other activities related to crypto markets by users.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer - Osko, PayID) | 2% |
| Deposit Fee (Credit/Debit Card) | 2% |
| Trading Fee | -0.05% - 0.20% |
| Withdrawal Fee (Bank Transfer) | 0% |
BTC Markets supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0003 BTC. The average across all other exchanges that we've reviewed is 0.000378 BTC. This means BTC Markets charges below the industry average by 20.65%.
BTC Markets has a maker/taker fee schedule which you can see below.
BTC Market Pairs
| Maker Fee | Taker Fee |
|---|---|
| -0.05% | 0.2% |
AUD/USDT Market Pairs
| Trading Fee % | 30 Day Volume |
|---|---|
| 0.85% | $0.01 – $500.00 |
| 0.83% | $500.01 – $1000.00 |
| 0.80% | $1000.01 – $3000.00 |
| 0.75% | $3000.01 – $9000.00 |
| 0.70% | $9000.01 – $18000.00 |
| 0.65% | $18000.01 – $40000.00 |
| 0.60% | $40000.01 – $60000.00 |
| 0.55% | $60000.01 – $70000.00 |
| 0.50% | $70000.01 – $80000.00 |
| 0.45% | $80000.01 – $90000.00 |
| 0.40% | $90000.01 – $115000.00 |
| 0.35% | $115000.01 – $125000.00 |
| 0.30% | $125000.01 – $200000.00 |
| 0.25% | $200000.01 – $400000.00 |
| 0.23% | $400000.01 – $650000.00 |
| 0.20% | $650000.01 – $850000.00 |
| 0.18% | $850000.01 – $1000000.00 |
| 0.15% | $1000000.01 – $3000000.00 |
| 0.13% | $3000000.01 – $5000000.00 |
| 0.10% | > $5000000 |
Security - Is BTC Markets Safe?
BTC Markets shows its commitment to security through practices like cold storage solutions, which hold the bulk of user assets offline, thus protecting them from online dangers. Such measures also come with a 2FA process that provides heightened security without sacrificing user-friendliness. Also, adherence to AUSTRAC’s protocols reassures customers about the protection standards surrounding their personal information and linked bank account details.
BTC Markets’ reputation as a secure crypto platform results from conscientious processes beginning at registration, where ID verification is mandated through routine safety operations. There are also initial screenings when new users deposit money (or withdraw money), as well as ongoing evaluations and revisions of protective mechanisms.
BTC Markets Customer Support
BTC Markets is known for its superior client service. This exchange’s customer support is constantly praised for its quick and professional handling of issues.
The exchange considers its clients its top priority, which shows its service quality. Because of this, customers consistently commend the team’s accessibility, patience, and use of user feedback to improve their services continually.
With transparent procedures in place, especially when guiding users through verification processes, this reflects how committed they are to transparency during every interaction with user inquiries.
BTC Markets Support Channels
How to Sign Up on BTC Markets
- Create Account - Visit the BTC Markets website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
BTC Markets Alternatives
Swyftx
Total Supported Cryptocurrencies
379+
Trading Fees
0.10% - 0.60%
Fiat Currencies Supported
USD, AUD, NZD
CoinSpot
Total Supported Cryptocurrencies
470+
Trading Fees
0.10% - 1.00%
Fiat Currencies Supported
AUD
Binance
Total Supported Cryptocurrencies
391+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Final Thoughts
BTC Markets prides itself on delivering an intuitive user experience, competitive pricing structures, strong security measures, and superior customer service. Customer assets are placed in multiple secure locations, and an efficient withdrawal mechanism is also in place.
BTC Markets’ features show that it’s a dominant force in Australia’s crypto markets and a reliable partner for global traders. This exchange continuously adds to its supported cryptocurrencies while committing itself to enhancements.
You can decide to join the many contented traders at BTC Markets who have already invested in this premium cryptocurrency platform.
BTC Markets FAQs
BTC Markets is an Australian cryptocurrency exchange that has been operational since 2013. As with any trading platform, reliability can be assessed by factors such as its longevity, security measures, user reviews, and compliance with regulations.
Conducting personal research and considering these factors before using any exchange is important.
To see how BTC Markets compares to other crypto exchanges, have a look at our page, which compares CoinSpot vs. BTC Markets.
BTC Markets was founded in 2013 and is one of the oldest Australian cryptocurrency exchanges.
To use BTC Markets, you must first create an account on their platform. This process usually involves providing personal information and verifying your identity to comply with KYC (Know Your Customer) regulations.
Once your account is set up, you can deposit funds, buy and sell cryptocurrencies, and track your portfolio through the platform.
Two-factor authentication (2FA) for BTC Markets is an additional security process users go through to verify their identity. It typically involves receiving a code on a separate device, such as a smartphone, which you must enter in addition to the password to access your account. This procedure provides a second layer of security against unauthorized access.
To withdraw AUD from BTC Markets, log in to your account, go to the withdrawal section, select the AUD withdrawal option, enter the amount you wish to withdraw and your bank account details, and then confirm the transaction. The funds are usually transferred to your bank account within a specified timeframe.
BTC Markets User Reviews
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Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.
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His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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