Zipmex Australia Review

Zipmex Australia Review

Daniel Chan

February 24, 2022

Cryptocurrency

What is Zipmex Australia?

Zipmex is a Singapore based trading platform that seeks to enrich the everyday person with new financial possibilities within the blockchain industry. Zipmex was founded back in 2018, and as of now, they offer their services to a limited number of countries, including Australia, Thailand, and Singapore. Zipmex is quite popular in Australia due to the support of AUD and ease of access to over 40+ of the most popular cryptocurrencies.

Along with instant buying and selling, low trading fees, and many other benefits, Zipmex Australia has made it easy to personalise your own crypto portfolio and keep everything at your fingertips. Due to the simplicity of the platform and no confusing features, anyone can join the platform and start investing and trading crypto. Note that there are different versions of Zipmex available for different countries; in this review we are looking specifically at Zipmex Australia.

  • Web Address: www.zipmex.com/au
  • Main location: Singapore
  • Cryptocurrencies: BTC, ETH, BCH, ALGO, ADA, and 40+ more
  • Fiat Currencies: AUD
  • Deposit Methods: Bank transfer, Cryptocurrency
  • Deposit Fees: 1% (up to $3 max)
  • Trading Fees: 0.2%
  • Mobile app: Yes

My Overall Thoughts on Zipmex

Zipmex Australia is a leading crypto exchange specifically serving traders and investors residing in Australia. They are regulated and comply with all the laws and regulations to provide their users with a safe and secure environment to perform their crypto activities. Zipmex also offers many features and options that can be easily accessed by users.

The best thing about Zipmex is their interface is user-friendly, and there is even a whole knowledge database available to help out their customers. If you have any issues, Live Chat support is on hand to assist you. If you ask me what I like the most about Zipmex Australia, here are three of the top features:

1) Simple and fast buying, selling and trading:  If you want to buy or sell cryptocurrencies, you can do it within a matter of seconds on Zipmex Australia. You simply have to select the crypto you want to buy or sell, the amount you would like, and complete the transaction with a couple of clicks. As for crypto trading, the overall experience is fast, accurate, and precise, along with detailed charts to give the best possible insights to traders.

2) Various ways to earn extra money:  Zipmex Australia has focused quite a lot on allowing their users to earn a few extra bucks in several ways. You can earn money on Zipmex Australia through staking, playing games, and even referrals. 

3) Useful knowledge hub:  With the help of Zipmex Australia’s knowledge hub, you can keep yourself updated with the latest crypto news and learn about different essential aspects of cryptocurrency. It is an excellent opportunity for newcomers and beginners to learn how trading and investing is done, and what cryptocurrency is all about.

One thing that Zipmex Australia could focus on is improving their features in the trading section. If they implement more advanced features like margin trading, it would attract more users to the platform. As they are still growing in Australia, we can wait and see what they bring in the near future.

Key Features & Advantages of Zipmex

Although Zipmex Australia focuses only on a single country, they have not compromised on the features and advantages they offer to their users. Not only do they bring tools that are required for the best crypto trading and investing experience, they have also made the whole process easy and efficient.

You can take a brief look below and find out what Zipmex Australia specialises in. You can go through each of the aspects to find out if the platform is suitable for your needs.

Negatives & Disadvantages of Zipmex

Nothing is perfect in the world, and neither is Blockchain.com. The platform does offer some industry-leading benefits to their users that can greatly improve their crypto experience, but there are a few things that are lacking. If you are wondering what those things are, take a look below:

What Services does Zipmex offer?

Zipmex Australia has many things to offer users who are looking for a seamless experience to buy, sell  or trade cryptocurrencies. The platform has included some great features that enhance the overall experience of any user. To understand what Zipmex Australia offers to their customers, you can have a detailed look below:

Over 40+ popular cryptocurrencies available:  No trader or investor would want to compromise on this aspect as everyone wants to get their hands on the popular crypto assets that can offer more reliable profits and greater returns. If you are planning to sign up with Zipmex Australia, you will find over 40+ of the most popular cryptocurrencies available.

It doesn't matter if you want to buy coins and HODL them in your wallet or if you want to start day trading, you can do both efficiently on Zipmex. Some of the popular crypto assets at Zipmex Australia are BTC, ETH, BCH, XRP, LTC, 1INCH, AAVE, and ADA. You can also browse all the assets and see which one would suit your preferences the best.

Buy and sell cryptocurrency instantly:  With the help of the quick buy and sell option available at Zipmex Australia, investors can instantly purchase different cryptocurrencies without any types of hassles. The best thing is the whole procedure is quite simple, straightforward, and trouble-free. You don’t have to mess with complicated features, graphs or terminology to conduct your transaction. You simply log in to the Zipmex Australia exchange and you will see the option to buy and sell crypto assets at the top bar.

Mobile apps available for iOS and Android:  Zipmex Australia has an excellent mobile app for both Android and iOS devices. The apps offer pretty much everything you can do on the fully-fledged desktop site. The mobile applications are also easy to use, and you just have to log into your account to get started. You can buy/sell, play games, manage your portfolio and do much more right from the palm of your hand.

You can head to the respective app store of your mobile device and download the Zipmex Australia mobile app right away. It is available to install on both Google Play and Apple Store.

Detailed and fast trading charts:  The trading charts available at Zipmex Australia are quite advanced, fast, and accurate to ensure the best possible experience for traders. Every crypto asset available on Zipmex Australia comes with its own personalised chart along with an order book and recent trades section. This provides more detailed insights to traders so they can make better decisions while trading.

The charts can even be customised to suit your preferences. There is a whole range of indicators that you can use and implement on the charts, various candlestick options, and different trading time periods.

Up to 14% APY with staking:  Some people like to keep their money in their bank’s savings account to earn a few extra bucks at the end of the year. However, we all know how miserable the returns are on a savings account, in today's current financial climate. An alternative is staking cryptocurrencies, where you can expect much higher returns depending on the asset.

If we talk about the staking program offered by Zipmex Australia, their highest return on an asset is about 14% annually on their native token ZMT. However, to achieve the highest rate you need to buy and lock 20,000 ZMT which is worth about $80,000 at the time of writing. However, even if you don't own a single ZMT coin, you can access 9% on USDC (a stablecoin tied to the US Dollar) and 4% for BTC and ETH. The only catch is you need to lock the coins in for 45 days where you cannot touch them. If you prefer a more flexible staking option, that is also available on Zipmex Australia, at a lower interest rate.

Quick signup process to get started:  Verifying your crypto account is an important part of any crypto exchange and for good reason. It is necessary because verifications reduce the risk of fake users on the platform using the exchange for criminal purposes.

The good thing about Zipmex Australia is the relatively simple and easy process. You open an account with an email and a password. After verifying your email, you are redirected to the verification screen, where you have to submit a picture of your driver’s license or passport and record a short video of yourself. This is pretty much all you will have to do to start trading at Zipmex Australia. Just make sure to provide all your legitimate information along with a clear picture and video to avoid delay in the verification process.

Earn crypto through free games:  This is not something that every cryptocurrency platform offers, but you can actually earn free crypto coins and prizes by just playing games at Zipmex Australia. All you have to do is download the Zipmex Australia mobile app and log into your account. 

Users play as many time as they like, and earn tickets in return. The number of tickets you are rewarded depends on your score and the number of referrals you make. The more tickets you have, the more chances you will have to win better prizes and cryptocurrency at the end of the season. 

Great referral program:  Aside from the games and staking at Zipmex Australia, you can earn money with their referral program too. Instead of giving away cash for signing up your friends, Zipmex Australia rewards users with their own token ZMT. When your friend signs up on Zipmex Australia through your referral link and locks 250 ZMT on the platform, you both get 2.5 ZMT each. You can earn more if your referral decides to lock away 5,000 ZMT, as you will each receive 25 ZMT.

Regulated and secure platform:  Zipmex Australia is a regulated and secure platform abiding by the laws of the country and keep up with the standards of the crypto industry. Not only that, but they also encourage their users to protect and keep their accounts safe through several methods. You can enable 2FA, add a phone number, biometric logins, and a complicated password to ensure you protect your account. There have been no breaches or hacking reports referring to Zipmex Australia since the history of the platform, which further provides peace of mind to the users.

Several other earning modes:  Even after so many ways to earn a few extra bucks with the platform, Zipmex Australia does not stop there. For instance, you can earn with ZipUp, where users get daily crypto rewards for flexible staking (withdraw your crypto at any time). There is also ZipLock, which we have discussed above, which is staking where your assets are locked for a specified period, for a higher interest rate. Finally, there is ZLaunch, where you can receive rewards in the form of new tokens, by staking Zipmex Token (ZMT).

Vast knowledge database:  Keeping yourself updated with what is happening in the crypto industry is a really good idea. Not only will you know the latest updates of the market conditions, but you also get to discover new projects and the potential they might bring.

Thanks to Zipmex Australia's knowledge database, you can keep up with all the crypto news. Not only that, but they also help new traders and investors get started through their guides and articles available on the platform. If you are new and do not know how everything works on the platform and in the industry, you can head to their “Learn” section and get access to tons of informational posts. Make sure to spend time reading before putting your money in something you don't understand. 

Excellent customer support via live chat or email:  If you have ever encountered an issue online, you will know how frustrating it is to try and get assistance if there is no customer support team. The good thing about Zipmex is that they offer support via live chat and email, so you can get your problems solved as soon as possible. The support team is responsive and is always polite and helpful.

What I don't like about Zipmex Australia

Zipmex Australia has countless benefits and advantages for their users, but there are also a couple of things that could be improved. Take a look below and find out what they are.

Limited range of cryptocurrencies available:  There are less than 50 crypto assets available at Zipmex Australia. Undoubtedly, they are some of the most popular coins, but the number is still relatively small for a professional trader or an investor who wants to diversify their portfolio and explore new and unique opportunities. With the limited range, you won’t be able to invest your money in new projects or ones that are not yet popular but have potential. The same case goes for trading, as you will have to limit yourself to fewer trading pairs. 

Lacks advanced trading features:  There is no doubt that the trading experience at Zipmex Australia is fast and accurate, but it lacks more advanced features that experienced traders desire. For example, there is no margin trading available on the platform to give traders larger positions. There are also no derivatives trading or futures, like Binance and KuCoin. However, since Zipmex Australia is still in a growth phase, we can wait and see if they implement these changes in the future.

Zipmex Australia Fees

Zipmex Australia Deposit Fees

  • Wire Transfers: 1% (Maximum fee $3)
  • Cryptocurrency: Free

Zipmex Trading Fee

The trading fee at Zipmex Australia starts at 0.20% for both takers and makers. Traders can lower it by increasing their member level. 

Unlike other crypto platforms, Zipmex Australia requires their users to buy and lock their own token (ZMT) rather than considering their 30 day trading volume. This is good for lower-volume traders, that believe in the potential of ZMT. Remember, if you stake ZMT, not only will you receive lower trading fees, but you also earn higher interest rates when staking all your coins.

Take a look at the chart below to see the different requirements for member levels, and the respective trading fees.

Zipmex Australia Fiat Withdrawal Fees

All fiat withdrawals incur a flat fee of $5, with a minimum withdrawal amount of $25.

Zipmex Australia Crypto Withdrawal Fees

The fee for crypto withdrawals varies depending on what asset you are withdrawing. Each asset comes with its own fee, which is deducted from the current balance of that asset. You can check the fee on each coin you want to withdraw once you go to the withdrawal page. 

Pros and Cons of Zipmex Australia

Pros
  • Over 40+ popular cryptocurrencies available
  • Low trading fee of 0.2%
  • Staking available to earn interest
  • Mobile app for iOS and Android
  • Reduce trading fees and increase staking rewards when you buy and stake ZMT
Cons
  • Limited range of cryptocurrencies
  • No advanced trading markets such as futures, or margin trading

Verdict

If you live in Australia and are looking for a crypto platform that offers a lot to both newcomers and seasoned investors, then Zipmex Australia is one of the best choices. With easy buying and selling of over 40+ popular coins, an easy-to-use interface, and low trading fees of 0.2%, Zipmex Australia is excellent for beginners. Once you have settled in and are a bit more comfortable with cryptocurrency, you can enjoy trading the markets with more advanced graphs, as well as begin staking your crypto to earn interest. Stake Zipmex's native coin (ZMT) to reduce your trading fees and receive higher interest rates on your staked coins as well.

A small downside of Zipmex is that they only offer a small range of coins compared to some other top Australian exchanges. For example, Digital Surge, our #1 recommended crypto exchange, has over 300+ coins on offer. To compare other excellent exchanges, take a look at our article on the best exchanges (click here) or see the comparison table below.

Comparison Table of the Best Crypto Exchanges in Australia

CoinSpot
Swyftx
Digital Surge
eToro
Binance
Crypto Exchange
Crypto Exchange
CoinSpot
Swyftx
Digital Surge
eToro
Binance
Fiat Currencies
Fiat Currencies
AUD
AUD, NZD
AUD
AUD, USD, GBP, EUR & 11 more
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, LTC, XRP, BCH, ADA & 360+ more
BTC, BTG, BCH, ADA, ETH, ETC & 310+ more
BTC, BTG, BNB, ADA, XRP & 300+ more
BTC, ETH, BCH, XRP, LTC, ADA & 50 more
BTC, ETH, LTC, BNB, ADA, XRP & 600+ more
Deposit Methods
Deposit Methods
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
PayID, POLi, OSKO, Cryptocurrency
Bank Transfer, Credit card, Debit card, PayPal, POLi
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
Market order: 0.1%, Instant buy: 1%
0.6%
0.5%
1%
0.1%

Crypto assets are unregulated & highly speculative.  No consumer protection.  Capital at risk.

Frequently Asked Questions

Can Zipmex Australia be trusted?

Yes, Zipmex Australia can be trusted. It is a regulated and registered cryptocurrency platform in Australia, and has never been hacked since its inception. 

What fiat currencies does Zipmex Australia support?

Zipmex Australia only supports AUD as of now. Users can deposit funds directly to their Zipmex accounts using bank transfer.

Is Zipmex Australia easy to use?

Zipmex Australia is a beginner-friendly platform without any type of complicated terms or features that might confuse amateurs. You can easily join the platform and start buying, selling or trading right away.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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