If you're searching for budget-friendly cryptocurrency trading in Australia, Bybit emerges as the top choice due to its competitive fees, user-friendly interface, and high satisfaction ratings (9.2/10). Below, we break down the cheapest exchanges and their fee structures to help you optimize costs.
Typical Fees on Crypto Exchanges
1. Trading Fees
Most exchanges charge 0%–1.5% per trade, with variations for makers (adding liquidity) and takers (removing liquidity).
- Example: A $1,000 trade may incur fees from **$0–$15**.
2. Maker vs. Taker Fees
- Maker fees: Lower (or rebated) to incentivize liquidity providers.
- Taker fees: Slightly higher for instant order execution.
3. Deposit/Withdrawal Fees
- Deposits: Often free, but some methods (e.g., credit cards) may incur charges (~1.8–4%).
- Withdrawals: Flat fees (e.g., 0.0002–0.0005 BTC for Bitcoin withdrawals).
4. Other Costs
- Margin trading interest.
- Liquidation fees.
5 Cheapest Crypto Exchanges in Australia
1. Bybit
- Spot Fees: 0.1% (taker), 0% (maker).
- Futures Fees: 0.01%–0.06%.
- Pros: High liquidity, NFT marketplace, 24/7 support.
2. Binance
- Spot Fees: 0.1% (taker), 0.02% (maker).
- Futures Fees: 0.01%–0.05%.
- Pros: 150+ cryptos, staking discounts via BNB.
3. Coinbase
- Spot Fees: 0.4%–0.6%.
- Futures Fees: 0.05% (introductory rate).
- Pros: Regulatory compliance, user-friendly.
4. Kraken
- Spot Fees: 0.016%–0.26%.
- Futures Fees: 0.02%–0.05%.
- Pros: Strong security, low minimum deposits.
5. OKX
- Spot Fees: 0.008%–0.1%.
- Futures Fees: 0.02%–0.05%.
- Pros: 350+ cryptos, DeFi integrations.
👉 Compare fees across exchanges
Fee Comparison Tables
Spot Trading Fees
| Exchange | Max. Maker Fee | Min. Maker Fee | Max. Taker Fee | Min. Taker Fee |
|----------|---------------|---------------|---------------|---------------|
| Bybit | 0.1% | 0.0005% | 0.1% | 0.02% |
| Binance | 0.1% | 0.02% | 0.1% | 0.04% |
| Kraken | 0.016% | 0.0% | 0.26% | 0.01% |
Non-Trading Fees
| Exchange | BTC Withdrawal Fee | Bank Transfer Fee |
|----------|--------------------|-------------------|
| Bybit | 0.0005 BTC | N/A |
| Coinbase | 0.0003 BTC | $0–$25 |
How to Choose a Low-Fee Exchange
- Compare fee structures (use tables above).
- Prioritize volume discounts (e.g., Binance’s tiered fees).
- Leverage native tokens (e.g., BNB, OKB for fee reductions).
- Consider security and liquidity alongside costs.
FAQs
Q: Which exchange has the lowest fees?
A: Bybit and Binance offer the most competitive rates.
Q: Are decentralized exchanges (DEXs) cheaper?
A: Yes, but they lack liquidity and user protections compared to centralized platforms.
Q: How can I avoid high withdrawal fees?
A: Use exchanges with free withdrawals (e.g., Kraken for certain currencies).
Final Thoughts
Selecting a low-fee exchange like Bybit or Binance can significantly reduce trading costs. Always balance fees with security, liquidity, and usability.
👉 Explore Bybit’s fee structure
For more insights, check out our guides on crypto trading strategies and tax implications in Australia.