Best Crypto Exchanges Australia 2022

This guide will be provide an in depth description of all the top crypto exchanges in Australia

With so many cryptocurrency exchanges available in Australia, it can be difficult to know which one is best for your needs.

There are several factors that determine whether a crypto exchange is favourable. This includes factors like fees and spreads, number of cryptocurrencies, deposit methods, customer service and much more. We’ve done our research and compared numerous global exchanges. Below you’ll find a detailed comparison of the top 10 best cryptocurrency exchanges in Australia in 2021.

Best Australian cryptocurrency exchanges in 2021

  1. Swyftx – Best overall Australian exchange 
  2. Coinspot – Best beginner exchange
  3. Crypto.com – Best exchange for earning interest on crypto
  4. Digital Surge – A great Australian alternative
  5. Binance – Best exchange for low fees
  6. Coinbase – Biggest US crypto exchange
  7. Independent Reserve – Best exchange for OTC trades 
  8. CoinJar – Another Australian alternative
  9. Kraken – Another international alternative
Best overall exchange

Join Swyftx

Best beginner exchange

Join Coinspot

Best OTC exchange

Join Digital Surge

  • Website: swyftx.com
  • Headquartered: Brisbane, Australia
  • Trading fees: 0.6%
  • Listed cryptocurrencies: 310+
  • AUD Deposit and withdrawal fees: N/A
  • Deposit limit: $100k
  • Fiat currencies: AUD, USD & NZD
  • Deposit Methods: Bank transfer, POLi, PayID & Credit/Debit card
  • Australian-based customer service: Yes
Open Swyftx Account

Swyftx

Swyftx is an AUSTRAC registered, Australian cryptocurrency exchange based in Brisbane that is considered one of the very best crypto trading platforms in the country. Launched in 2018, Swyftx has grown incredibly quickly in its few years of existence. According to Swyftx, the exchange platform has now over 400,000 users and that number is growing significantly by the day. 

The crypto trading platform lists over 280 cryptocurrencies for buying, selling and trading. 

Swyftx app portfolio with floating crypto tokens

Swyftx has some of the most competitive trading fees and spreads in the industry. They charge a flat 0.06% fee per trade and their spreads range between 0.2% and 0.8% which is considerably lower than the industry average in Australia. In addition to its competitive fees, Swyftx is also able to offer low spreads as they have access to a network of liquidity providers with a large pool of trading volume.

Swyftx is a secure exchange with an advanced security framework. Given that it is a fully licensed exchange, it complies with AML and KYC policies. This means that Swyttx carries out identity checks for all its new customers. Additionally, the platform has a number of advanced security features that provide an extra layer of protection to users accounts. Advanced security features include Two Factor Authentication (2FA) and breached password detection. 

Swyftx has a number of useful features and trading tools that make for an improved trading experience for beginner, intermediate and advanced cryptocurrency traders. Features include:

  • Portfolio tracking: Enables users to view their profit or loss percentage from the digital currency assets they own in real time.
  • AUD deposits and withdrawals: Swyftx allows free AUD deposits and withdrawals. The trading platform also supports other fiat currencies including NZD and USD. 
  • Local-based customer service: Swyftx is considered to have the best customer support out of all the Australian exchanges. This is particularly important for people looking to first get into the market. You can ask a question via their online live chat and typically get a response within 10 minutes. 
  • Demo mode: The platform’s demo mode is a great tool for learning and practicing different trading techniques and strategies with zero financial risk. Demo mode simulates real trade volume and liquidity of 280+ cryptocurrencies. 
  • Coinswap: Also, known as crypto to crypto trading, The Swyftx coin swap feature gives users the opportunity to exchange different digital assets. For instance, you can buy Ethereum using Bitcoin and vice versa without selling back into AUD. 
  • Fees: Swyftx has zero withdrawal and deposit fees. There is a standard network mining fee for crypto withdrawals. Trading fees for buy and sell orders are below the industry average. 

Read our comprehensive Swyftx review for 2022.

  • Website: coinspot.com.au/
  • Headquartered: Melbourne, Australia
  • Trading fees: 1.0%
  • Listed cryptocurrencies: 351
  • AUD Deposit and withdrawal fees: Free
  • Deposit limit: 100k
  • Fiat currencies: AUD
  • Deposit Methods: Bank transfer, POLi & PayID
  • Australian-based customer service: Yes
Open Coinspot Account

Coinspot

Coinspot is a top Australian crypto and Bitcoin exchange that is based in Melbourne and launched in 2013. Having been a top trading platform for so many years, Coinspot has amassed a huge customer base, the largest out of all the available crypto exchanges in the country. They’re an AUSTRAC registered exchange with an easy to use trading platform that features a sleek interface and a number of handy features. 

The exchange supports a wide range of cryptocurrencies allowing users to buy, sell and swap Bitcoin, Ethereum, Cardano, XRP, Dogecoin and 300+ other assets. 

Coinspot app portfolio

Coinspot is a suitable trading platform for beginners looking to make their first BTC and cryptocurrency investment due to its simple dashboard. It’s clear Coinspot has spent a lot of time simplifying their crypto exchange platform. 

Though Coinspot is considered a great trading cryptocurrency platform for beginners due its easy to navigate interface, it does have its drawbacks. One significant drawback is it is one of the more expensive exchanges with 1% trading fees for instant buy/sell orders. These fees also apply to stop and limit orders. This trading fee is above the industry average, and these fees could add up if you’re considering trading regularly. 

Find out more in our Coinspot review 2022.

  • Website: crypto.com/
  • Headquartered: Singapore
  • Trading fees: Varies
  • Listed cryptocurrencies: 250+
  • AUD Deposit and withdrawal fees: Free
  • Deposit limit: 1,000,000
  • Fiat currencies: AUD, USD, GBP & more
  • Deposit Methods: Bank transfer, Credit/Debit card & more
  • Australian-based customer service: No
Open Crypto.com Account

Crypto.com

Crypto.com is a Crypto one-stop shop that has a diverse range of offerings including trading on 100+ crypto assets, cash back Visa cards, interest earning and gift cards on their app, available for both iOS and Android users. They currently boast a customer base of more than 10 million users and operate with a basic maker and taker trading fee of 0.10% and 0.16% respectively, which is subject to change based on the 30 day trade volume of the user and use of the CRO coin (Crypto.com Coin) staking facilities. 

The Crypto.com platform itself is relatively easy to navigate once the user has had a chance to familiarise themselves with the different options. The Crypto.com app has all the features of the desktop trading platform and is extremely convenient for when you’re looking to trade crypto or check your portfolio on the go. 

crypto.com app portfolio on smart phone

Australian users have the option of depositing AUD using standard bank transfer, PayID or BPAY, with standard bank transaction fees applying. Crypto deposit options are also available for any of the assets listed on the platform. 

With a big focus on security, Crypto.com is considered one of the safest crypto exchanges as it has never suffered  a hack. This aligns with some of its additional security practices, being one of the only exchanges that are insured for up to $360 million USD in the case of damage or theft. Additionally, they partner with Ledger, a cold wallet storage solution company, to store users’ crypto balances in cold storage. 

Crypto.com is a great platform that offers a range of diverse services and products for users, however, the platform’s navigation can take some time to get used to and is limited in its capacity to facilitate trades. The low fees, competitive offerings and advanced features such as staking, , allows  users to take advantage of some handy investment options. It is a suitable platform for those who are looking to do more than just buying and selling cryptocurrency. Users can partake in tasks typically done through traditional financial institutions such as spending, investing, lending and earning interest. Crypto.com is a great crypto platform for more experienced crypto investors and traders  looking to further explore the crypto markets.

Find out more in our Crypto.com review Australia

  • Website: digitalsurge.com.au/
  • Headquartered: Brisbane, Australia
  • Trading fees: 0.5%
  • Listed cryptocurrencies: 280+
  • AUD Deposit and withdrawal fees: Free
  • Deposit limit: 20,000
  • Fiat currencies: AUD
  • Deposit Methods: Bank transfer, POLi & PayID
  • Australian-based customer service: Yes
Open Digital Surge Account

Digital Surge

Though Digital Surge was only founded in 2017, it has done well to become a trusted and popular Australian exchange. Based in Brisbane, Digital Surge has a clear focus on being beginner-friendly and educating its users about cryptocurrency and blockchain. Coinware considers Digital Surge to have one of the best cryptocurrency trading platforms for beginners.

It’s simple and quick account verification process means users can almost immediately deposit money to start buying and selling listed assets on the exchange. The portfolio tracking feature within the app allows users to easily track the progress of their crypto holdings.

In addition to being beginner-friendly, Digital Surge also prioritises customer support, assisting customers with questions and concerns. We consider this particularly important for beginners as navigating the different functions of a cryptocurrency exchange can be difficult and overwhelming.

Digital surge desktop and mobile trading platform

The Digital Surge trading fee is 0.05% per trade, which slightly pips Swyftx’s trading fee. This trading fee is below the national average and is one of the lowest fees out of all the Australian-based exchanges. Deposit and withdrawal fees are also free and the minimum deposit amount is $20. Due to this competitive fee model, we consider Digital Surge to be one of Australia’s top crypto exchanges.

Read our 2022 Digital Surge review.

  • Website: binance.com/
  • Headquartered: Caymen Islands
  • Trading fees: 0.1%
  • Listed cryptocurrencies: 353
  • AUD Deposit and withdrawal fees: Free
  • Deposit limit: $10,000
  • Fiat currencies: AUD, USD, NZD & GBP
  • Deposit Methods: Bank transfer, POLi, PayID & Credit/Debit card
  • Australian-based customer service: No
Open Binance Account

Binance

Binance is the largest cryptocurrency exchange in the world. Though it’s not Australian-based, Binance still has a huge customer base in Australia due to its extensive range of cryptocurrencies, advanced features, derivatives and renowned reputation. 

Binance’s cryptocurrency trading platform is unmatched compared to other crypto exchanges in Australia. It’s a feature-rich platform designed for intermediate and advanced traders. It also offers a number of financial products, like margin trading, leverage trading, futures trading, staking, liquidity pools and more. 

Binance app on smart phone

These features and products may be a dream come true for short term and experienced traders . However, for beginners looking to delve into the crypto market and make their first investment into Bitcoin or Ethereum, navigating the Binance app and trading platform is overwhelming and confusing. The ever-changing buy and sell prices and the candlestick charts that are on display within the platform are enough to turn crypto beginners away from trading for good. 

If you have had some experience in the crypto market and you’re serious about trading, then Binance may be the right crypto exchange. It has the lowest trading fees out of all the exchanges listed here. Binance charges 0.1% on all trades (buying and selling) meaning you can save on costs and maximise your profits in the long term.

Read our in depth Binance Australia Review.

  • Website: coinbase.com/
  • Headquartered: San Francisco
  • Trading fees: Varies
  • Listed cryptocurrencies: 140+
  • AUD Deposit and withdrawal fees: 3.99% deposit fee. Does not offer AUD withdrawals
  • Deposit limit: 3
  • Fiat currencies: USD, NZD & GBP
  • Deposit Methods: Credit/Debit card
  • Australian-based customer service: No
Open Coinbase Account

Coinbase

Coinbase is one of the biggest exchanges in the world and is a publicly listed company on the NASDAQ. Operating out of the US, Coinbase has expanded its platform to users in over 100 countries including Australia. It was officially launched in 2012 and has grown into a household name as it is popular among beginner and retail crypto investors. It is registered as a Money Services Business and has reliable financial licenses in a number of countries. 

3 smart phones with the coinbase app and portfolio

Coinbase has a very aesthetic and simple design with an easily navigable app interface to suit traders with a range of experiences. It is often considered to be an exchange popular amongst beginners.

Although Coinbase is a huge exchange with great features and design, there are a few negative factors, particularly for Australian users. The fees associated with trades can range between 1.49%-3.99% which is significantly higher than the industry average.  

Read our comprehensive Coinbase Australia Review.

  • Website: independentreserve.com/
  • Headquartered: Sydney, Australia
  • Trading fees: 0.5
  • Listed cryptocurrencies: 27
  • AUD Deposit and withdrawal fees: Free
  • Deposit limit: 20,000
  • Fiat currencies: AUD ; AUD, USD, NZD & more
  • Deposit Methods: Bank transfer, POLi & PayID
  • Australian-based customer service: Yes
Open Independent Reserve Account

Independent Reserve

Independent Reserve is a trusted Australian cryptocurrency exchange based in Sydney. Founded in 2013, Independent Reserve has built an outstanding reputation for being a safe and secure exchange. Having grown its customer base to over 200,000 users, Independent Reserve has expanded its services offshores into countries such as New Zealand and Singapore. 

Independent Reserve lists significantly less cryptocurrencies than that of Swyftx, Coinspot and Digital Surge. This may be a drawback for people who are looking to trade more frequently and are interested in lower cap coins. 

Independent Reserve list only 25 cryptocurrencies including BTC, ETH, XRP, AAVE, USDT, BAT, BCH, COMP, DOGE, DOT, EOS and more.

two smart phones with the independent reserve app

Independent Reserve is the only Australian exchange to date to offer insurance cover on crypto assets up to $5 million. Additionally, users can generate tax reports powered by KPMG, one of Australia’s leading audit and tax service providers. These are two key reasons why Independent Reserve is one of the most popular exchanges among high-value clients and institutions. 

Independent Reserve offers an Over the Counter (OTC) service for large volume orders. This involves executing large Bitcoin and cryptocurrency orders ‘off exchange’ to avoid slippage.

  • Website: coinjar.com/
  • Headquartered: Melbourne, Australia
  • Trading fees: Varies
  • Listed cryptocurrencies: 50+
  • AUD Deposit and withdrawal fees: Free for BPAY and NPP, 2% fee for Visa and Mastercard deposits
  • Deposit limit: $50k
  • Fiat currencies: AUD & GBP
  • Deposit Methods: PayID
  • Australian-based customer service: Yes
Open Coinjar Exchange Account

Coinjar Exchange

Coinjar is the oldest Australian-based crypto exchange, having launched in 2013. Headquartered in Melbourne, Coinjar have built a large customer base in the Australian market and have also broken into the UK market. The exchange has 400K+ users. 

In 2021, Coinjar made headlines by launching their very own crypto card which is powered by Mastercard and allows holders to spend crypto like cash. 

The Coinjar mobile app and desktop trading platform has an elegant interface and is easy to navigate. Users can manage their portfolios and trade a range of digital currencies. 

3 smart phones with Coinjar app portfolio

Compared to other exchanges like Swyftx and Coinspot, Coinjar lists minimal cryptocurrencies. It currently provides trading on 30 digital currencies. 

Coinjar’s fees are very competitive using the maker/taker model. These fees can vary between 0.1% – 0.25%. However, for making instant crypto trades with AUD, the fee is 1%.

Read our in-depth Coinjar Review 2022.

  • Website: kraken.com/
  • Headquartered: San Francisco
  • Trading fees: Varies
  • Listed cryptocurrencies: 65
  • AUD Deposit and withdrawal fees: Free bank transfer, $35 SWIFT
  • Deposit limit:
  • Fiat currencies: AUD ; AUD, USD, GBP & more
  • Deposit Methods: Bank transfer & PayID
  • Australian-based customer service: No
Open Kraken Account

Kraken

Kraken was founded just 2 years following the creation of Bitcoin and has become one of the most well respected crypto exchanges in the world.  Based in San Francisco, California, Kraken now operates multiple countries around the world such as the US, the UK, Australia, Canada and more. Kraken is an AUSTRAC registered exchange meaning it complies with laws and regulations set by the Australian government. 

Kraken claims to have industry leading security, stating that 95% of all deposits are kept offline, in air-gapped cold storage wallets.They also have security teams internally that test their own systems. For their users, they offer Two-Factor Authentication (2FA) for a variety of actions, including when logging in, when executing withdrawals and staking/unstaking assets. They also have a number of other in-built security measures to protect their users accounts.

In December 2021, Kraken noted that it is now available in over 175 countries and has 95 different cryptocurrencies listed for trading on their platform. The current trading fee on a base level verification account is 0.9% for stablecoins (USDT, USDC, etc.) and 1.5% for all other cryptocurrencies (BTC, ETH, BNB, etc.). However if you complete the highest level of verification and upgrade to Kraken Pro, you’ll onlypay 0.16% in maker fees and 0.26% in taker fees. These fees are also subject to a further discount based 30 day trade volume, where the higher the volume traded during this period, the lower the fee that will be incurred.

3 smart phones with the kraken app displayed on them

Due to their stringent compliance policy with local government regulations and guidelines, KYC (Know Your Customer) verification is required for all users and on kraken there are 4 verification levels:

Starter:Where you complete the 2FA account protection set up, verify your email and provide your full name, DOB, phone number and address.

Express level: This is for US-based residents Only; 

Intermediate: This involves the enhanced customer due diligence requirements for selfie and ID verification, as well as a valid proof of address document; and

Pro level: Please provide description

Additionally, Kraken offers multiple different services for crypto investors from all walks of life outside of conventional buy and sell orders. This includes account management, staking and margin trading , although some features are only available at certain verification levels. 

Finally, when depositing AUD, Kraken offers you the ability to either deposit using Bank Transfer or PayID. You can also deposit and purchase via credit or debit card if your card issuer is able to process currency conversions, as all purchases are charged in Euros (EUR). Although Kraken does not charge any deposit fees for bank transfer or PayID, a 3.75% charge is incurred for any credit card deposits. Trades using a stablecoin trading pair (USDT & USDC) incur a trading fee of just 0.9% and the fee for standard crypto trades is 1.5% which is much higher than a lot of the crypto exchanges listed on this page. 

In summary, Kraken offers an easy to navigate platform that has a big focus on security of customer funds and data. They offer a range of different investment options for investors and traders, however, they’re trading fees are higher than most of the other cryptocurrency exchanges listed here, so it’s important to keep that in mind.

  • Website: nexo.io/
  • Headquartered: Zug, Switzerland
  • Trading fees:
  • Listed cryptocurrencies: 30+
  • AUD Deposit and withdrawal fees: Free
  • Deposit limit: NA
  • Fiat currencies: USD, GBP & more
  • Deposit Methods: Bank transfer & more
  • Australian-based customer service: No
Open Nexo Account

Nexo

Nexo is a cryptocurrency finance platform where users can get crypto-backed loans and earn interest on cryptocurrencies they hold.

Nexo’s crypto-backed loans are referred to as instant crypto credit lines. Users can borrow money using their cryptocurrency as collateral. The interest payable on these loans will depend on how much you’re borrowing but also how much of the NEXO token the user holds. NEXO is the native token on the Nexo platform. The more of the token the user holds, the less their interest rate will be.

One of the best features of the Nexo wallet app is its interest-earning capabilities. Users can earn up to 12% on cryptocurrencies they hold in their Nexo wallet.

 

 

How to choose the best cryptocurrency exchange

With so many options available, choosing a crypto exchange that meets your needs can be difficult, overwhelming and time-consuming. Our team has put together this guide to find the best cryptocurrency exchanges in Australia. The order of this list is based on a number of factors which are listed below: 

Exchange security

Security can be considered one of the most important factors to consider when choosing the best Australian crypto exchange. Crypto exchanges have historically been vulnerable to hacks and cyberattacks. So when deciding on what exchange is best for you, it’s important to do your research on the security features that different exchanges offer.

At the very least, the exchange should provide two-factor authentication (2FA) and a multi-signature withdrawal process. These measures are put in place to add an extra layer of defence should someone get access to your exchange account. It works by adding an extra layer of verification (in addition to your password) that is only available via a third party mobile app (i.e. a number or code accessible via your phone). Google Authenticator, Microsoft Authenticator and Authy are common examples of two-factor authentication apps. 

Customer support

Crypto exchange platforms can be difficult to navigate and understand, particularly for beginners. This is where a helpful customer service team becomes very important. Having someone explain processes like withdrawing crypto, depositing AUD and tracking the progress of your portfolio can be very beneficial. Before signing up to an exchange, we suggest exploring their website and looking for mentions of customer support and live chat. Most exchanges will provide a frequently asked questions (FAQ) section or a help centre with useful resources. However, it may be in your best interests to sign up to an exchange with a local customer support team that is known for their helpful service.

Trading fees 

Every crypto exchange will charge trading fees. However, the fees will differ significantly depending on which exchange you choose. If you’re only looking at buying and holding without trading regularly, you may look to prioritise other aspects of the exchange over the trading fees (for example, you may prefer a simple and sleek interface to watch the progress of your investments). However, if you’re looking to trade regularly as part of your investment strategy, it may be best to go with an exchange that offers lower fees than the industry average. This will end up saving you money in the long term, which will allow you to maximise your profits. 

User-friendliness

Crypto exchanges differ greatly in the way they present their app and trading platform. Different exchanges are designed with different users in mind as well as different approaches to trading crypto. For instance, some exchange platforms are cluttered with a number of advanced features which an experienced crypto trader might desire. However, this can be overwhelming for inexperienced traders. The Binance trading app is an example of an exchange that is more suited to experienced traders due to its advanced features like staking, futures and liquidity pools. 

On the other hand, Australian crypto exchanges like Swyftx, Coinspot and Digital Surge are better suited to beginner investors as they offer a simple interface on their trading apps and platforms. 

Regulation 

Because the crypto industry has grown so quickly, authorities and governments have had to act quickly to start regulating users investing and trading in this new asset class. Cryptocurrency exchanges and brokers that provide cryptocurrency trading services to Australian residents must be regulated by AUSTRAC. Compliant exchanges will be required to collect information from customers such as their full name, email address, and phone number. This process is in line with KYC/AML regulations set by AUSTRAC. This is done to minimise the risk of money laundering and financial crimes. Therefore, it’s important to choose a regulated exchange that complies with AUSTRAC.

Reputation

Reputation is extremely important whether you’re looking for a plumber or a crypto exchange. There are a number of things you can do to check the reputation of an exchange. The first thing that we recommend is to check review aggregators like TrustPilot and Productreview.com.au. These websites collect reviews from customers and users which allows you to compare how the different Australian exchanges stack up. As it stands, Swyftx has the highest review on Trustpilot, with a 4.8 star rating from 3000 reviews. 

Supports AUD 

Not all cryptocurrency exchanges will support AUD deposits. This can make it difficult to trade and withdraw profits. Some crypto exchanges support AUD on assets like Bitcoin, Ethereum, Cardano and the other large crypto assets, but they will not support it for all of their listed assets. This means you’ll have to either exchange your AUD for another fiat currency or buy an asset that can then be used to exchange for the asset you’re looking to purchase. This is commonly referred to as trading pairs. If you’re new to crypto, it’s probably best that you create a trading account with an exchange that supports AUD pairs on all their listed assets like Swyftx, Coinspot or Digital Surge.

Frequently Asked Questions

What is the best Bitcoin exchange for security?

Coinspot gets our nod for the most secure exchange in Australia. This is due to a number of reasons, such as being an Australian owned and operated exchange, and the fact it is the only Australian exchange to hold ISO 27001 certification which is a globally recognised certificate for Information Security Management System.

What is the cheapest cryptocurrency exchange?

Binance is the cheapest exchange in Australia. It charges just 0.1% fees on all buy and sell trades allowing users to trade crypto cheaply. This is considerably lower than the second cheapest exchange on this list, Independent Reserve, which charges 0.5% fees. Binance is the biggest crypto exchange in the world, with several advanced features. Trading fees should be taken into account when selecting the best cryptocurrency exchange that is suited to you, however, it must be noted that Binance has an advanced trading platform that may not be appropriate for an inexperienced investor.

Is cryptocurrency taxed in Australia?

Yes, the ATO views Bitcoin and other cryptocurrencies as “a personal use asset” rather than a currency and therefore it is subject to Capital Gains Tax (CGT). This means you’ll be required to pay tax on profits made from cryptocurrency. You’ll also be required to pay tax when exchanging one coin for another (i.e. swapping Ethereum for Bitcoin). Most exchanges submit tax reporting information to ATO, so it’s best not to try and avoid paying taxes on your crypto profits. If you have held the asset for more than 1 year before selling, then you will be eligible for a 50% CGT discount. For more information, check out Swyftx’s guide on crypto tax in Australia.

Is crypto legal in Australia?

Yes, cryptocurrencies like Bitcoin were declared legal in Australia in 2017. This declaration meant that cryptocurrency exchanges and other blockchain businesses were subject to anti-money laundering laws under the Counter-Terrorism Financing Act 2006. The crypto industry in Australia is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

What are the best payment methods to buy crypto?

There is no right answer to this question, as this will differ depending on the exchange and your personal preferences. Generally, the most common payment method is bank transfer. This entails depositing money into your account via bank transfer and then buying a crypto asset instantly once the funds have arrived. Most exchanges that support bank transfer deposits will support payment providers like PayID and POLi, which are designed to speed up the bank transfer process. There are a number of other payment methods, however. Some exchanges allow users to buy crypto directly with a credit or debit card. This is often a lot more convenient than waiting for your deposit to process. However, it must be noted that this is often associated with higher fees. At the end of the day, your preferred payment method will depend on what you see as most important.