BTC Markets Review 2024

Our veredict

BTC Markets is a reliable and secure cryptocurrency exchange ideal for Australian investors. Established in 2013, it offers a variety of trading options and supports major cryptocurrencies like Bitcoin, Ethereum, and Ripple. The exchange is known for its strong security measures, including cold storage for 98% of assets, two-factor authentication, and compliance with AUSTRAC regulations. BTC Markets is particularly suitable for high-net-worth individuals and serious traders, thanks to features like an Over-The-Counter (OTC) desk for large transactions and competitive trading fees that decrease with higher volumes. The platform also allows for investment through Self-Managed Super Funds (SMSFs), which adds a layer of versatility for Australian investors.

However, BTC Markets has its drawbacks. The platform supports a relatively limited number of cryptocurrencies compared to other exchanges, which might not appeal to investors looking for a wide variety of altcoins. Additionally, while the trading fees can become quite low with high volumes, the initial fee of 0.85% for low-volume trades is relatively high. Customer support is primarily through email and support tickets, which may not be as responsive as some users would prefer. Despite these limitations, BTC Markets remains a solid choice for those focused on security and reliability in the Australian market.

Pros

Low Trading Fees: BTC Markets offers competitive trading fees that decrease with higher trading volumes, starting from 0.85% for transactions up to $500 and going as low as 0.10% for transactions over $5 million AUD.
Strong Security Measures: BTC Markets employs robust security protocols, including cold storage for most funds, two-factor authentication, and regular security audits, ensuring user assets are well protected.
No Deposit Fees: The platform does not charge fees for deposits made via bank transfer, including Osko and BPAY, which is beneficial for users looking to minimize costs.

Cons

3,5

Threenvest Score

Fees

0.22% per transaction

U.S Legal

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Why choose BTC Markets?

Choosing BTC Markets as your cryptocurrency exchange offers several compelling advantages. Firstly, BTC Markets has a strong reputation for security, utilizing features such as cold storage for 98% of assets, two-factor authentication, and stringent adherence to AUSTRAC regulations. This makes it a trustworthy platform for those concerned about the safety of their investments.

Secondly, the platform provides a variety of trading options that cater to both novice and experienced traders. With advanced order types such as limit orders, market orders, and stop orders, BTC Markets allows users to implement sophisticated trading strategies. Additionally, the exchange’s support for Self-Managed Super Funds (SMSFs) enables Australian investors to diversify their retirement portfolios with cryptocurrencies, adding a layer of financial planning flexibility.

Lastly, BTC Markets offers competitive trading fees, especially for high-volume traders. While the initial fee for low-volume trades is 0.85%, these fees significantly decrease as trading volume increases, making it more economical for serious traders. The availability of an Over-The-Counter (OTC) desk for large transactions also provides personalized service and potentially better rates during times of market volatility, which is a significant advantage for high-net-worth individuals.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert in the crypto space, I recommend BTC Markets for its robust security and user-friendly platform. This exchange is ideal for Australian investors looking for a reliable and compliant trading environment. BTC Markets offers competitive trading fees, especially for high-volume traders, and provides advanced trading features that cater to both beginners and seasoned investors. The platform’s support for Self-Managed Super Funds (SMSFs) adds versatility, making it a solid choice for those planning long-term investments in cryptocurrencies.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.