Right now, the market is struggling to remain stable. While the third superpower deals with its own leadership turning the world against it, two of the three are experiencing a massive housing bubble.
The volatility of fiat money is at its highest level in a long time. But what does this imply for the cryptocurrency industry?
Well, cryptocurrency is also declining. According to reports, 75% of cryptocurrency owners now value their coin less than they did two months ago. Does this indicate a crash in cryptocurrency?
not any more so than the market as a whole is collapsing. Those are some very deliberate words, as one may have noticed. Is it intended to suggest that the market is collapsing? Well, that depends on what you mean by “crash”. Stocks, cryptocurrencies, and currencies are all rapidly losing value.
When you consider the 2008 financial crisis, however, it was brought on by the realization that around one-fourth of the value in the globe was later shown to be fake. A similar portion of the money used to purchase stocks, loans, and currencies was unable to be repaid. The result was a collapse.
Because of inflation, the markets are losing value. However, it is not the case that one-fourth of the economy is fake.
Thus, what we are experiencing is a financial fall, not a financial crash. It’s awful, and a lot of people are losing money. But one of the best things about stock and cryptocurrency markets is that they also make it simpler for people to invest in them now and make money from them later.
The top Australian cryptocurrency wallets are compared in this guide for 2023. Continue reading as we discuss all the important factors beginners should take into account when choosing a cryptocurrency wallet for the first time.
Best Cryptocurrency Wallets for Australia.
See All the list of the top 10 cryptocurrency wallets for Australian traders below:
- eToro – The Best Overall Crypto Wallet in Australia in 2023 .
- OKX – A Cryptocurrency Wallet App With Savings Accounts.
- Binance – The World’s Largest Cryptocurrency Exchange for Buying, Selling, and Storing.
- Trust Wallet – a decentralized wallet that supports over 65 blockchain networks.
- MetaMask – Non-Custodial Wallet for Mobile and Web Browsers.
- Crypto.com – A Secure DeFi Wallet and Low-Fee Crypto Exchange.
- Trezor – a safe hardware wallet that can store thousands of tokens.
- Coinspot – an exchange based in Australia with a multi-currency cryptocurrency wallet.
- Coinbase – Secure Web Wallet With Several Safety Features.
- Trusted – Bitcoin Wallet for Desktop Devices: Electrum.
1.eToro For those looking for the best crypto wallet in Australia, eToro is a great option as it’s fully regulated by several financial authorities and it offers the best user experience on the market.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Web and mobile wallet (custodial) | 70+ | 0.5% fee on deposits. 1% trading commission. | Yes |
Pros
- Overall best crypto wallet in Australia
- Regulated by ASIC and other licensing bodies
- Institutional-grade security
- Buy, sell, and store over 70 crypto tokens
- Perfect for beginners
- Deposit AUD with a debit card, POLi, Paypal, and more
- Copy trading and smart portfolios
Cons
- Trading suite may be too basic for advanced traders
2. OKX also offers one of the best crypto wallets in Australia for trading. It supports more than 370 crypto tokens and trading commissions start at just 0.1%. OKX also offers access to leveraged financial products, such as crypto futures, options, and perpetual swaps. This is in addition to bots, which support automated trading. Best of all, every feature hosted by OKX can be accessed via its wallet app.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Browser extension and mobile wallet (noncustodial), web wallet (custodial) | 370+ | Trading commission of up to 0.1%. AUD deposit fees are built into the exchange rate. | Yes |
Pros
- Best Bitcoin app for earning interest
- User-friendly wallet app for iOS and Android
- Trade more than 370 crypto tokens
- Commissions start from just 0.1%
- Noncustodial storage – investors control their private keys
Cons
- OKX cannot assist if the wallet is compromised
3. Binance also offers a mobile app that connects to the web wallet. This also comes with high-level security features and the ability to send and receive tokens. Binance also offers charting tools for technical traders alongside passive earning accounts. The latter includes savings accounts, staking, yield farming, and more. The main drawback with Binance is that, unlike eToro, its exchange is not regulated by ASIC. Finally, Binance supports AUD deposits with a debit/credit card and PayID.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Web and mobile wallet (custodial) | 350+ | Trading commission of up to 0.1%. AUD debit card deposits cost 1.8%. PayID deposits are fee-free. | Yes |
Pros
- Best crypto wallet in Australia for trading
- Hundreds of large and small-cap tokens supported
- Trade BTC/AUD at 0% commission
- Earn interest via staking, yield farming, and more
- Premium liquidity levels
Cons
- Does not hold a license with ASIC
4. Trust Wallet enables users to buy, sell, and store NFTs across multiple blockchain standards. Trust Wallet also enables Australians to buy crypto with a debit/credit card. The minimum purchase is $50 but the process requires a quick KYC check. This means uploading some personal information and a copy of a government-issued ID.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Browser extension and mobile wallet (noncustodial) | 4.5+ million digital assets | Supports third-party debit/credit card purchases – fees built into the exchange rate. | Yes |
Pros
- All-in-one crypto wallet supporting 65 blockchain standards
- Easy set-up process and very user-friendly
- Comes as an Android/iOS app and a Chrome extension
- Swap tokens from within the wallet interface
- Connects to hundreds of third-party dApps
Cons
- High fees when buying crypto with a debit/credit card
5. MetaMask supports tokens on the Ethereum, Binance Smart Chain, Optimism, Arbitum, Avalanche, and Polygon networks. It doesn’t, however, support Bitcoin. Nonetheless, we like that MetaMask enables users to swap tokens without leaving the wallet. It finds the best price available across multiple decentralized exchanges and charges a transparent fee of 0.875%.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Browser extension and mobile wallet (noncustodial) | All tokens on the following networks; Ethereum, Binance Smart Chain, Polygon, Avalanche, Optimism, and Arbitum | No support for Bitcoin. Internal token swaps cost 0.875% | Yes |
Pros
- Noncustodial wallet for iOS, Android, and browser extensions
- Trusted by over 30 million crypto traders globally
- Fast and simple set-up process
- Supports six blockchain networks
Cons
- Does not support Bitcoin
6. The Crypto.com DeFi app also supports savings accounts with competitive APYs. It also connects to third-party dApps, including Uninswap, VVS Finance, and OpenSea. We also like that users can swap tokens from within the Crypto.com DeFi wallet across different blockchain networks. This is also one of the best Australian crypto wallets for trading. Across over 250 tokens, Australians can buy and sell crypto at a commission of just 0.075%.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Browser extension, desktop software, and a mobile wallet (noncustodial) | 1,000+ supported tokens can be stored. 250+ tokens can be traded via the exchange | 2.99% debit/credit card fee. Fee-free deposits with PayID and BPAY. Commissions of up to 0.075%. | Yes |
Pros
- Crypto ecosystem includes yields, token swaps, and trading
- Buy, sell, and trade NFTs
- Supports over 30 blockchain networks
- Over 250 crypto tokens can be traded from just 0.075%
Cons
- AUD deposits can take up to four days to process
7. Trezor supports thousands of crypto tokens. In terms of pricing, the basic Model One costs $82. This comes with a two-button pad and support for A-type USBs. The Model T costs $262 and comes with a touchscreen, C-type USB, and ultra-premium security features. Although Trezor offers a desktop suite for Windows and Mac, there is no mobile app.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Hardware wallet (noncustodial) | Thousands of tokens across multiple blockchains | The fee is determined by Invity, a third-party exchange | No |
Pros
- Wide range of supported blockchain networks
- Industry-leading security features
- Model One costs just $82
- Desktop software for Windows and Mac
Cons
- Yet to release a mobile app
- Not suitable for active traders that regularly transfer crypto
8. The Coinspot wallet is available as an iOS and Android app that uses two-factor authentication to secure user data. Additionally, withdrawals can be locked, which lessens the risk of a remote hack. Trading is also supported through the Coinspot wallet, with charges beginning at only 0.1%. Tokens may be traded inside the wallet app as well. Along with purchasing and selling NFTs, this is also done.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Mobile and web wallet (custodial) | 360+ | Market order commissions cost 0.1%. Fee-free deposits via POLi and PayiD. Instant buys cost 1%. | Yes |
Pros
- Popular Australia Bitcoin wallet for novice investors
- The wallet can be accessed online or via an Android/iOS app
- Supports over 360 crypto tokens
- Trade crypto from within the wallet interface
Cons
- 2.58% debit/credit card fee
- Instant buy and sell fee of 1%
9. Coinbase Vault is another top feature, enabling users to restrict wallet withdrawals. The Coinbase wallet can be accessed online or via an Android/iOS app. As a custodial wallet, Coinbase is responsible for keeping the tokens safe. Coinbase also enables users to trade over 250 crypto tokens. However, trading commissions cost 1.49%.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Web and mobile wallet (custodial) | 250+ | 1.49% per slide. 3.99% when buying crypto with a debit card. | Yes |
Pros
- Regulated crypto exchange since 2012
- High-level security features including cold storage, vaults, and two-factor authentication
- Buy and store over 250 crypto tokens
Cons
- Huge trading commission of 1.49%
10. Electrum Plenty of optional security features are provided, such as offline ‘watch-only wallet’, multi-sig permissions, and proof checking. Moreover, as Electrum uses indexing servers, both incoming and outgoing transactions are speedy. Electrum won’t, however, be suitable for investors that wish to diversify. This is because it only supports Bitcoin.
| Type of Wallet | Number of Cryptos | Fee for Buying Bitcoin | Mobile App? |
| Desktop and mobile wallet (noncustodial) | 1 – Bitcoin | N/A | Yes – Android only |
Pros
- Established Bitcoin wallet since 2011
- Noncustodial storage with plenty of security features
- Supports Windows, Linux, Mac, and Android
Cons
- No support for iOS mobiles
- Supports just one crypto – Bitcoin
What crypto wallets can I use in Australia?
Australian investors have access to dozens of crypto wallets. This includes wallets that are accessed online, via a mobile app, desktop software, hardware device, and even a browser extension. Two of the most popular crypto wallets in Australia are eToro and OKX.
What is the best crypto wallet in Australia?
The best crypto wallet for Australian investors is eToro. The eToro platform – which is regulated by ASIC, offers a web and mobile wallet. Plenty of features are offered, such as being able to buy over 70+ cryptocurrencies with AUD. More experienced traders might consider OKX the best crypto wallet in Australia.
How do I pick a cryptocurrency wallet?
There are two main factors to consider when choosing the best crypto wallet for Australian traders. First, consider whether custodial or noncustodial storage is required. Second, choose the preferred device type to store the wallet – such as a mobile app or desktop software.
