Choosing a suitable wallet is an important part of the crypto investment process. This will ensure that your digital currency investments are kept safe at all times – and enable you to send and receive funds with ease.
In this guide, we compare the five best crypto wallets in Australia for 2022 – with a strong focus on security, supported coins, compatible device types, and core features.
The Best Crypto Wallets Australia Ranked
Here’s a quick rundown of the five best crypto wallets in Australia to consider today.
Cryptoassets are a highly volatile unregulated investment product.
Read on to find out why the above five providers offer the best crypto wallets for Australian traders.
The Best Bitcoin Wallets Australia Reviewed
The best crypto wallets in Australia offer support for a wide variety of coins, alongside solid security features. We also like wallets that are easy to use and enable you to access trading and exchange services via a single place.
The best crypto exchanges in Australia also offer a proprietary crypto wallet so you can conveniently store and trade your digital assets all in one place.
Read our reviews of the five best crypto wallets in Australia to determine which option is right for you.
1. eToro – Overall Best Crypto Wallet Australia for 2022
eToro is one of the most popular crypto brokers in Australia, not least because the platform is regulated by ASIC and offers super-low fees. Once you have purchased crypto at this brokerage – which requires a minimum investment of just $10, you can then leave your digital tokens in the eToro web wallet.
This is a custodial wallet, meaning that you do not need to take care of your private keys. Instead, eToro will ensure that both your wallet and crypto funds are kept safe at all times. And, in choosing this option, you can access your digital currencies at any given time simply by logging into your account.
Crucially, this makes it a super easy process when you decide to cash your crypto investment out, as it’s just a case of creating a sell order. With that being said, eToro also offers the best crypto wallet app – which is compatible with both iOS and Android phones. This option enables you to send and receive crypto tokens on a wallet-to-wallet basis.
Furthermore, the eToro wallet app also allows you to access exchange services, which includes the option of swapping tokens across 500+ pairs. For instance, if you wish to swap Bitcoin for Ethereum, you can do this without needing to leave the eToro app. In terms of fees, both the eToro web and mobile crypto apps are free to access.
And, should you wish to buy crypto via your eToro wallet, you can deposit funds from just $10. This includes support for debit and credit cards, Paypal, Skrill, local bank transfers, and more. All supported payment methods are charged a fee of just 0.5%. Another core feature of the eToro wallet is that it comes alongside copy trading tools.
This means that you can actively day trade crypto without needing to do any research, as your chosen investor will place buy and sell orders on your behalf. When it comes to supported coins, eToro is home to dozens of crypto assets. This includes everything from Bitcoin, Dogecoin, and Cardano to EOS, Neo, and Decentraland.
| Number of Cryptos | Pricing Structure | Bitcoin Trading Fee | Minimum Deposit |
| 58 | Tight spreads | 1% + spreads | $50 |
Pros
- Regulated by ASIC
- Super low trading fees
- Web and mobile app wallet options
- Supports dozens of coins
- Deposit funds with a debit/credit card, e-wallet, or bank transfer
- Copy Trading tools
Cons
- Advanced traders might find the platform a bit basic
Cryptoassets are a highly volatile unregulated investment product. 68% of retail investor accounts lose money when trading CFDs with this provider
2. Binance – Best Wallet for Crypto Trading
Binance is home to one of the largest crypto ecosystems in this industry. This includes a trading exchange that attracts millions of clients and more than $10 billion worth of volume each and every day. In terms of storage, Binance offers the best crypto wallet in Australia for those who wish to actively trade.
This is because the platform allows you to buy and sell hundreds of crypto pairs across more than 1,000 trading markets. This includes digital currencies of all types – from Bitcoin, Ethereum, and Litecoin to AAVE, Shiba Inu, and Tether. Irrespective of which token you wish to trade, Binance will charge you just 0.10% in commission.
In holding BNB tokens or trading larger amounts throughout the month, you will be offered even lower fees. In terms of storage, you can keep your crypto assets in your main Binance web wallet. This will also connect to the Binance trading app, which can be downloaded for free on Android and iOS mobiles.
Either way, Binance offers good security tools, which includes two-factor authentication. This means that when you log into your crypto wallet via your desktop device, you will need to confirm access via an SMS code. If logging in via the Binance app, confirmation is required via email. This ensures that nobody else can access your wallet without your say-so.
Another option you have is to download Trust Wallet, which is also backed by Binance. This is a non-custodial wallet in the purest form, not least because you will be the only person that has access to your private keys and backup passphrase. The Trust Wallet app connects to third-party DApps, such as Pancakeswap.
This allows you to buy digital currencies that operate on top of the Binance Smart Chain. Take note, as is the case with all non-custodial wallets, if you lose your private keys or they are hacked remotely, you will lose access to your funds. Finally, Binance is not regulated by ASIC – or any financial body for that matter – so do bear this in mind.
| Number of Cryptos | Pricing Structure | Bitcoin Trading Fee | Minimum Deposit |
| 500 | Maker Taker Fees | 0.35% maker fee & 0% taker fee | $50 AUD |
Pros
- Web and mobile wallet offered
- Hundreds of coins across 1,000+ markets
- Low commissions of just 0.10% per slide
- Supports fiat money deposits and withdrawals
- Great tools for advanced traders
- One of the largest crypto exchanges for liquidity
Cons
- Not regulated by any licensing body
- Has previously been hacked
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
3. Coinbase – Best Cryptocurrency Wallet in Australia for Newbies
Coinbase stands out as one of the best cryptocurrency wallets in Australia for its ease of use and top-notch security protocols. Regarding the latter, Coinbase as an exchange is regulated in the US and listed on the NASDAQ as a tradable stock. And, 98% of client assets are stored offline in a cold crypto wallet.
This means that when you buy Bitcoin at Coinbase – or any cryptocurrency for that matter, you can be sure that your funds at well-protected at all times. And, just like Binance, Coinbase also makes it mandatory to set up two-factor authentication, which again, adds a huge layer of security to your digital assets.
Crucially, Coinbase offers a custodial wallet service, which can be accessed via your main web account or the iOS/Android mobile app. Either way, when you open an account with this provider, you will have access to over 50+ supported coins. Not only in terms of storage, but you can buy and sell crypto here at the click of a button.
Some of the most traded crypto assets on the Coinbase platform include Bitcoin, Shiba Inu, Dogecoin, Litecoin, and Ethereum. When it comes to fees, this is where Coinbase scores poorly. For instance, let’s suppose that you wish to buy crypto with your Australian debit card. In doing so, you will be charged just under 4% in fees.
Moreover, on each buy and sell order, Coinbase charges a standard trading commission of 1.49%. As such, the Coinbase wallet is best suited for long-term storage as opposed to regular trading activity. Nevertheless, Coinbase is one of the easiest crypto wallets to use, so this will suit first-timers that are somewhat nervous about how digital asset investments work.
And, we also like that Coinbase accounts take just 10 minutes to open – which includes the verification process. When it comes to core features, Coinbase offers a bare-basic service, so you won’t find crypto savings accounts or advanced technical indicators here – nor will you have access to copy trading services.
| Number of Cryptos | Pricing Structure | Bitcoin Trading Fee | Minimum Deposit |
| 100+ | Spreads, fixed fees | 0.4% maker fee & 0.6% taker fee | $2 |
Pros
- Regluated in the US and listed on the NASDAQ
- Supports 50+ coins
- Accepts debit/credit cards and bank transfers
- Great security features
- Perfect for beginners
Cons
- High payment and commission fees
- Limited trading tools and features
Cryptoassets are a highly volatile unregulated investment product.
4. Kraken – Top Bitcoin Wallet App for Crypto Investments
Next up on our list of the best Bitcoin wallets in Australia is Kraken. This top-rated crypto exchange is popular with seasoned traders that seek access to high-level charting tools and margin facilities. With that said, regarding the latter, Australian traders can only access crypto leverage of 1:2 as per ASIC regulations.
Nevertheless, in choosing this platform, you can keep your digital currencies in your main Kraken web wallet, which is ideal for active traders. This is because you can access your wallet at any time simply by logging into your account. And, in downloading the Kraken app – which is compatible with both iOS and Android, you can connect this to your web wallet.
This makes the process of sending and receiving crypto a breeze, as you don’t need to transfer tokens from one location to another in order to trade. When it comes to supported tokens, Kraken is home to over 65 digital currencies – most of which focus on large-cap projects like Bitcoin, Ethereum, and Shiba Ibu.
Safety-wise, Kraken offers a custodial wallet, which means the platform will be responsible for keeping your private keys secure. At 95%, the vast majority of client digital assets are kept offline in cold storage. If you decide to use this platform to trade, Kraken offers a classic maker/taker model.
If you are trading small amounts, as a marker taker you will pay a maximum commission of just 0.26%. This is reduced as your monthly volume increases or you decide to provide the exchange with liquidity. Deposit fees will vary depending on whether you wish to fund your account with crypto, a debit/credit card, or a bank transfer.
Take note, if you wish to deposit AUD into your account, you will first need to go through a KYC process. This is usually fast, but delays can happen when Kraken experiences a backlog. And finally, this crypto wallet provider has a great reputation in the broader digital asset space – not least because it has been offering exchange services since 2013.
| Number of Cryptos | Pricing Structure | Bitcoin Trading Fee | Minimum Deposit |
| 100+ | 0.9% fee for any stablecoins** 1.5% fee for any other crypto |
1.5% | 0.0001 BTC |
Pros
- Maximum trading commission of 0.26% per slide
- First launched in 2013
- 65+ coins supported
- Suitable for both beginners and experienced investors
Cons
- Leveraged products are high risk
Cryptoassets are a highly volatile unregulated investment product.
5. Coinjar – One of the Australian Crypto Wallets for Asset Diversity
Coinbase is a popular crypto exchange that is based in Australia. The platform targets retail clients that wish to buy and sell crypto in a safe and user-friendly way. In choosing this provider, you can store your digital currency funds in the Coinjar custodial web wallet.
Once again, this option will suit newbies that want to invest in crypto and keep their funds safe in the most beginner-friendly way possible. This is because once you buy crypto via the Coinjar exchange, you don’t need to do anything else until you are ready to cash out. Coinjar also offers a mobile crypto wallet app that is compatible with both iOS and Android.
This will connect to your main account, so this allows you to send, receive, and trade digital tokens on the move. In terms of supported coins, this top-rated provider is home to dozens of crypto assets. Large-caps include the likes of Bitcoin, Ethereum, and Litecoin. You can also buy the best DeFi coins at Coinjar, such as Uniswap and Maker.
When it comes to fees, this will ultimately depend on your goals. For example, you can deposit crypto into your Coinjar wallet fee-free. But, if you first need to buy some crypto, Coinjar will charge you a standard trading commission of 1%. If you wish to use a debit card for this purpose, the fee increases to 2%.
This does make Coinjar somewhat pricey, especially when you consider that eToro supports debit card deposits – as well as e-wallets like Paypal, at just 0.5%. Nevertheless, just like Coinbase, the Coinjar wallet will likely suit beginners, as both the main website and mobile app are very simple to use.
Coinjar is also popular with Australians that wish to diversify across a wider range of crypto assets. This is because the Coinjar Bundles tool allows you to buy a wide variety of tokens through a single trade. Finally, Coinjar also offers a crypto debit card backed by MasterCard, which allows you to spend your digital assets online, in-store, and withdraw at ATMs.
| Number of Cryptos | Pricing Structure | Bitcoin Trading Fee | Minimum Deposit |
| 30 | Maker / Taker Fees | 0% taker fees & 0.10% maker fee | $5 |
Pros
- Crypto exchange based in Australia
- Supports AUD deposits via bank transfer, Apple Pay, and debit/credit cards
- Dozens of supported coins
- Very user-friendly
Cons
- Lack of trading tools
- 2% fee on debit card payments
- Not regulated by ASIC
The Top 5 Australian Crypto Wallets Compared
Further to our comprehensive reviews above, we have summarized our findings on the best crypto wallets in Australia via a simple comparison table.
| Wallet Provider | Number of Coins | Trading Fee | Fee for Sending Bitcoin | Wallet App? |
| eToro | 50+ | 1% + spread | 0.5% | Yes |
| Binance | 500+ | Up to 0.10% | 0.001 BTC | Yes |
| Coinbase | 100+ | 1.49% | Network fee | Yes |
| Kraken | 65+ | Up to 0.26% | 0.00002 BTC | Yes |
| Coinjar | 50+ | 1% | Network fee | Yes |
Consider that the above comparison table is correct at the time of writing – be sure to conduct your own independent research. before choosing a crypto wallet.
What is a Bitcoin Wallet?
A wallet enables you to store digital currencies like Bitcoin. This operates in a similar way to a traditional bank account, albeit, your chosen wallet will store crypto as opposed to Australian dollars.
Crypto wallets come in a variety of forms, such as a mobile app or desktop software. Hardware devices and web wallets are also an option. Each wallet type will offer a different level of convenience and security, which is why research is important.
The best crypto wallets in Australia not only allow you to store, send, and receive digital currencies but also offer trading services. This means that you can buy, sell, and exchange crypto from within the wallet itself.
Why You Need a Crypto Wallet?
When you buy crypto from a safe and regulated exchange like eToro, you don’t actually need to obtain a wallet. This is because as soon as the transaction is processed, the crypto asset will be added to your main web wallet account.
Meaning – that in order to access your coins or cash out – you simply need to head over to your portfolio. With that said, some investors in Australia will prefer to withdraw their digital tokens to a private wallet.
When opting for a non-custodial wallet, this means that you have full control over your crypto funds. And, as such, you are 100% responsible for ensuring that your wallet remains safe at all times.
How do Crypto Wallets Work?
At a bare minimum, crypto wallets serve three key functions – storage, and the ability to send and receive funds.
For example:
- Once you initially set your wallet up, you can deposit crypto tokens from an external source – such as the exchange you purchased them from.
- In order to do this, you need to send the funds to the unique public address associated with your wallet. This is similar to a bank account number.
- When it comes to sending crypto funds from your wallet, the process works in the same way but in reverse.
With that said, the best crypto wallets in Australia offer a much broader ecosystem, such as being able to exchange tokens and view real-time pricing data on your investments.
Some wallets – such as eToro, even allow you to buy crypto with fiat money via a debit/credit card or an e-wallet payment.
Types of Bitcoin Wallet Accounts
When choosing the best crypto wallet for Australian users, you should also consider which device you wish to keep your funds on.
For example:
Software Wallets
The easiest option for beginners is to opt for a software wallet. This comes in the form of desktop software, a mobile app, or a web wallet offered by an exchange or broker.
The best thing about software wallets is that you can access your funds no matter where you are located.
As such, if you’re on the move and wish to transfer digital currency to another location, it’s just a case of opening the wallet app on your mobile and confirming the transaction.
Hardware Wallets
Crypto hardware wallets can be purchased online from leading providers such as Trezor and Ledger Nano. Your chosen hardware wallet will likely look like a USB stick, which, most importantly, remains offline at all times.
As such, hardware wallets offer the greatest level of security, not least because in order to transfer funds, you need to enter your PIN onto the device.
On the other hand, you can only move funds out of a Bitcoin hardware wallet when you have access to the device itself.
Paper Wallets
Long-term crypto investors might even consider a paper wallet. This means that you will print your wallet’s private keys onto a sheet of paper – usually via a unique bar code. Then, you will be required to keep this sheet of paper somewhere super-safe.
When you decide that you wish to transfer your crypto assets, you would then need to import your private keys into an external wallet. Naturally, this is a safe and low-cost storage solution, but sending funds to another wallet is inconvenient.
How to Choose the Best Cryptocurrency Wallet for You
In the sections below, you will find a handy checklist of how to choose the best crypto wallet in Australia for you.
Device Type
First, consider if you want to store your crypto assets online, via a mobile app, or desktop software. Additionally, hardware and paper wallets might also be considered for long-term investors.
Some wallet providers – such as eToro, offer an online web wallet alongside a mobile app – both of which are linked for added convenience.
Security
Do some research to assess what security tools the crypto wallet provider offers.
We found that the best crypto wallet for Australian users offers some of the following safeguards:
- Two-factor authentication
- Cold storage on client digital funds
- IP address and device whitelisting
- Withdrawal locking feature
Moreover, regulation is another thing to consider.
For instance, if you buy crypto at eToro and keep your digital tokens in your main web wallet, you will be entrusting a provider that is not only regulated by ASIC, but by licensing bodies in the UK, US, and Cyprus.
On the other hand, although the Binance wallet offers great security features, the exchange itself is not licensed in any jurisdiction.
Supported Coins
Be sure to check which digital currencies your chosen crypto wallet supports. Multi-currency wallets are ideal for those that wish to diversify, as you can keep all of your different crypto tokens in a single place.
If your chosen provider does not support all of the coins that you own, then you will need to set up and manage multiple wallets. This can be extremely inconvenient.
User Experience
The best crypto wallets in Australia that we came across offer a simple and user-friendly experience. This means that you can easily send and receive funds, check the value of your tokens, and more without needing to have any prior experience.
In choosing a crypto wallet that is difficult to navigate, can be problematic – even if you are a seasoned crypto investor.
Trading Tools
It goes without saying that the best crypto wallets in Australia double up as an exchange. This means that on top of storing your digital currencies, you can trade them for other tokens.
For instance, the eToro wallet app supports 500+ trading pairs. This means that you can trade Litecoin for Bitcoin or Ethereum for Uniswap without leaving the eToro app.
Moreover, all of the top crypto wallets that we reviewed today support traditional exchange services. This means that you can deposit Australian dollars and purchase any supported crypto asset of your choosing.
Another thing to look out for is passive investing tools. For instance, Coinjar Bundles allow you to invest in a broad range of digital currencies through a single trade. You then have the eToro copy trading tool, which enables you to mirror the investments of a seasoned crypto trader like-for-like.
How to Get a Bitcoin Wallet in Australia
Follow the simple step-by-step guide below to set your crypto wallet up with the overall best Bitcoin account in Australia – eToro.
This platform is regulated by ASIC and – so you can be sure that you are using a credible and trusted wallet provider.
Step 1: Open an Account
As an ASIC-regulated crypto provider, you first need to register an account with eToro. This simply requires some information from you surrounding your name, home address, and phone number.
Next, upload a copy of your government-issued ID to get your eToro account verified instantly. This will then allow you to buy and sell crypto with dollars – should you wish to.
Step 2: Download eToro Money Crypto Wallet App
Next, download the eToro wallet app to your device. Android and iOS smartphones are both supported and the eToro app is free to download.
You can now open the eToro wallet app and log in with your username and password.
Step 3: Add Assets to Crypto Wallet
You can now add some crypto tokens to your eToro wallet. Copy the wallet address for the respective coin that you wish to deposit and head over to the source where the tokens are located – e.g. a crypto exchange.
Alternatively, if you don’t have any crypto yet – you can make a purchase directly from within the eToro app. This top-rated platform supports Australian debit/credit cards, e-wallets like PayPal and Skrill, and local bank transfers.
Conclusion
In summary, this guide has compared the five best crypto wallets in Australia for 2022 – in terms of security, user-friendliness, supported coins, and more. We’ve also provided a handy checklist on how to choose a wallet for your personal requirements.
To get started with the overall best Australian crypto wallet right now – head over to the eToro website and open an account. In doing so, not only can you store, send, and receive digital tokens – but you can buy crypto from just $10 with fiat money.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
