Digital Surge is Australia's #1 crypto exchange, and Binance is a very popular trading platform, and is the largest cryptocurrency exchange in the world based on trading volume. You have certainly heard of these two exchanges, so how do you know which one you should use in Australia?
It really comes down to who you are and how much experience you have in the cryptocurrency industry. If you are a complete beginner, looking to get started with your first cryptocurrency, then you definitely want to sign up with Digital Surge. It is easier to use, with basic functionality and a simple interface. There is also live chat support on hand, so you can ask how for help if you're stuck. It is easy to get your hands on some crypto, with instant buying of over 300+ coins.
On the other hand, if you have been around crypto for some time, Binance is the exchange for you, with many trading options, like margin trading, futures, P2P marketplace and NFT marketplace. Staking is also available on Binance so you can earn passive income on your crypto. Continue reading to see how we compared Digital Surge and Binance across different aspects, and you can decide for yourself.
Digital Surge vs Binance:
Comparison Table
Header |  |  |
|---|---|---|
Coins | 300+ | 600+ |
Trading Fee | 0.5% | 0.1% |
Deposit Fee | PayID: Free; POLi: $2 - $3.30 | Free |
Withdraw Fee | Free | Free |
Payment Options | POLi, PayID | PayID, OSKO |
Pros | - Live chat support - Excellent for beginners - easy to use on mobile app and desktop site | - Stake over 70+ coins to earn passive crypto interest - Margin trading, futures trading, P2P, NFT marketplace |
Cons | - Higher trading fees - No advanced trading markets | - No live chat support - Can be confusing for newbies |
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Header | | |
|---|---|---|
Coins | 300+ | 600+ |
Trading Fee | 0.5% | 0.1% |
Deposit Fee | PayID: Free; POLi: $2 - $3.30 | Free |
Withdraw Fee | Free | Free |
Payment Options | POLi, PayID | PayID, OSKO |
Pros | - Live chat support - Excellent for beginners - easy to use on mobile app and desktop site | - Stake over 70+ coins to earn passive crypto interest - Margin trading, futures trading, P2P, NFT marketplace |
Cons | - Higher trading fees - No advanced trading markets | - No live chat support - Can be confusing for newbies |
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Digital Surge Pros & Cons
Pros
Cons
Binance Pros & Cons
Pros
Cons
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Digital Surge vs Binance Features
Digital Surge was created with the aim of making it simple for complete beginners to instantly buy and sell cryptocurrency, with no need to navigate confusing charts. Even with no previous experience with crypto, or even any other financial markets such as stocks, Digital Surge is easy to understand. You can sign up in only 2 minutes and get yourself some crypto with no delay. If you encounter any issues, you can easily contact the friendly and responsive support team via live chat, or email. There are over 300+ different coins available which is more than enough for both beginners and seasoned crypto investors. They are continually adding to their range of assets as well, so don't be surprised to see this number grow over time.
Binance is almost the opposite of Digital Surge. It is not particularly suited to newcomers, but moreso those that have some experience with cryptocurrency. It is a very comprehensive trading platform with over 600+ coins and plenty of markets such as margin trading, futures, P2P marketplace and even NFT marketplace. If you like to HODL your coins, you can stake more than 70+ coins, to earn passive income and grow your holdings over time. If you like to borrow or lend crypto, that is another available option for Binance users.
Features: Binance has a ton of capabilities, and attracts advanced users who love the various features and markets on offer. Digital Surge was created to be a basic exchange, and therefore cannot compete with Binance's features.
Digital Surge vs Binance Fees
Digital Surge has free fiat deposits via PayID, but POLi will cost you between $2 - $3.30. Withdrawals to your bank account are free of charge. Buying and selling cryptocurrency costs 0.5% per transaction.
Binance has free AUD deposits and withdrawals. If you want to instantly buy or sell (this is known as 'Convert') on Binance, there is no commission, but the fee is included in the spread. When you trade on the market, the fee is a low 0.1%, which can be lowered if you pay fees with Binance Coin (BNB). Users can lower their fees by 25% if they pay trading fees using BNB, so the fee drops to just 0.075%.
Fees: Binance has fee-free withdrawals and deposits, and the trading fee of 0.1% is much lower than Digital Surge (0.5% fee). The option to discount fees when paying with BNB makes Binance even more attractive.
Number of Cryptocurrencies
Digital Surge has over 300+ different cryptocurrencies.
Binance offers more than 600+ different coins.
Number of cryptocurrencies: Binance wins with a massive selection of over 600+ different cryptocurrencies on offer.
Deposit Methods
Digital Surge offers PayID and POLi.
Binance accepts PayID and OSKO.
Deposit methods: Tie as both exchanges offer two methods of depositing AUD. They both support PayID, but Digital Surge offers POLi and Binance offers OSKO. It depends on your preference for depositing.
Digital Surge vs Binance Security
Digital Surge is an extremely secure cryptocurrency exchange, registered with ASIC and AUSTRAC, and following stringent AML and KYC requirements. Digital Surge is frequently monitoring and constantly staying up to date with their security protocols, and store the majority of their digital assets offline in cold storage. Digital Surge has never been hacked since their inception in 2017, a testament to their security measures.
Binance is also a very secure crypto platform, with a host of security measures in place to protect their users' funds and data. They use cold storage for most of their digital funds, and their security measures consist of 2FA, whitelisting devices, anti-phishing codes and even U2F (universal 2nd factor authentication). Unfortunately, it doesn't matter how robust a crypto exchange's security is, there can always be a small chance of a vulnerability. In 2019, Binance was hacked with more than $40 million of Bitcoin stolen. The good news is how Binance responded to the situation by covering the loss so that none of their users would be financially affected. Binance then spent time improving their security systems, and after only four months, they passed external audits on their information security management, and received the ISO 27001 certification.
Security: This comes down to a tie. They are both secure crypto exchanges. While Binance has been hacked in 2019, they also have improved their systems and now have ISO 27001 certification. Digital Surge has never been hacked.
Digital Surge vs Binance Summary
Digital Surge and Binance are both excellent cryptocurrency exchanges, but we can't say that one is clearly better than the other, because they are focusing on different types of users. Digital Surge is the clear winner for crypto beginners, because of the simple interface, live chat support, and instant buy and sell feature of more than 300+ coins. For those with some crypto experience under their belt, Binance is the one to choose, due to the wide range of markets, lower trading fees, and additional features like an NFT marketplace.
If you want to do continue researching crypto exchanges before you sign up to one, take a look at our article on the best crypto exchanges in Australia.
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