Digital Surge and CoinSpot are two of the biggest crypto platforms in Australia. Both offer several hundred cryptocurrencies with a broad range of features to their users. However, selecting the one that is best for you depends on your individual requirements.

Some users want new currencies quickly, while others prefer lower fees. Some prefer security over speed, while others want a user-friendly interface.

In this head-to-head comparison, we’ll look at all the major factors and weigh up their pros and cons to facilitate your decision in selecting the best exchange.

Digital Surge vs CoinSpot: A Brief Overview

Digital Surge is an Australian cryptocurrency exchange that aims to make storing and trading cryptocurrencies effortless for everyone. Dan Rutter and Josh Lehman founded the exchange in 2017. It’s a great platform for those who are just getting started in cryptocurrencies. The detailed steps about how to get something done, extremely friendly support, and helpful material on the platform make it the perfect exchange for beginners. Digital Surge is also the only exchange that allows its users to pay their bills using Bitcoin. 

CoinSpot is Australia's most popular crypto exchange, with over 2.5 million users. Former cyber security expert Russell Wilson founded it in 2013. It is older than Digital Surge and offers more coins (360+) for trading. CoinSpot is quick to add new cryptocurrencies to its platform and it's the only ISO 27001 certified cryptocurrency exchange in Australia.

Digital Surge vs CoinSpot:
Comparison Table

Header

Coins

360+

300+

Trading Fee

Market: 0.1%, Instant trade: 1%

0.5%

Deposit Fee

PayID, POLi, Direct Deposit: Free; BPAY: 0.9%; Cash Deposit: 2.5%

PayID: Free; POLi: $2 - $3.30

Withdraw Fee

Free

Free

Payment Options

PayID, POLi, Direct Deposit, BPAY Cash Deposit

POLi, Bank transfer, PayID

Pros

- Most trusted and secure exchange

- Stake 22 coins to earn interest

- Many deposit options available

- Supports 360+ coins

- Lowest fees and spreads

- Live Chat support

- Over 300+ coins available

Cons

- High instant buy fees of 1%

- The spread is much wider than  on Digital Surge

- CoinSpot's market trade fee of 0.1% is lower than Digital Surge

- No staking

Cell

(Swipe across screen to see full table)

Header

Coins

360+

300+

Trading Fee

Trade: 0.1%, Instant trade: 1%

0.5%

Deposit Fee

PayID, POLi, Direct Deposit: Free; BPAY: 0.9%; Cash Deposit: 2.5%

PayID: Free; POLi: $2 - $3.30

Withdraw Fee

Free

Free

Payment Options

PayID, POLi, Direct Deposit, BPAY Cash Deposit

POLi, PayID, Bank transfer

Pros

- Most secure and trusted exchange

- Stake 22 coins to earn interest

- Many deposit options available

- Supports 360+ coins

- Lowest fees and spreads

- Live Chat support

- Over 300+ coins available

Cons

- High instant buy fees of 1%

- The spread is much wider than on Digital Surge

- CoinSpot's market trade fee of 0.1% is lower than Digital Surge

- No staking

Cell

CoinSpot Pros & Cons

Pros

  • More than 360+ cryptocurrencies
  • Staking on 22 coins
  • Plenty of deposit options to choose from
  • 24/7 customer support with live chat
  • Most secure and audited exchange in Australia

Cons

  • High instant buy/sell fees of 1%
  • The spread is much wider than on Digital Surge

Digital Surge Pros & Cons

Pros

  • Supports over 300+ different cryptocurrencies
  • Lowest spreads
  • Excellent customer support with live chat
  • Feature-rich mobile app
  • Brilliant interface and security

Cons

  • CoinSpot's market trading fee of 0.1% is lower than Digital Surge (0.5%)
  • No staking

Digital Surge vs CoinSpot Features

CoinSpot has a very user-friendly interface and an effortless signup process. Account creation, ID verification and funds deposit takes only a few minutes and after that you can start buying and selling coins. 

With over 360+ cryptocurrencies, CoinSpot offers Australian users the largest number of cryptocurrencies to choose from. Not only that, but they regularly add new coins to their platform.

For those that like to invest in crypto for the long term, CoinSpot's staking feature on 22 coins is an excellent way to grow your crypto. You won't have to worry about the safety of your coins stored in CoinSpot, and you will achieve high interest rates that compound quickly over time.

CoinSpot has an NFT marketplace where you can buy thousands of popular NFTs, using any cryptocurrency you like. This saves you time and energy, as you don't need to endure the hassle of swapping coins to get the necessary crypto for the purchase. 

CoinSpot's mobile app is modern and user-friendly, and customer service is among the best in the industry, with 24/7 support including live chat.

Digital Surge is extremely easy to set up and use and you can get started in just 2 minutes. They have also built the interface with the user experience as a priority. This speed and ease give you an edge in the crypto world where things change fast.  

Digital Surge offers over 300+ cryptocurrencies with instant AUD deposits and free withdrawals to make buying and selling crypto coins hassle-free for its users. If you are always on the go, you can download Digital Surge's mobile app which is just as functional as the desktop site. You can also add your favourite cryptocurrencies to the watch list for easier management and quick access.

Users can also use Digital Surge to pay their bills using Bitcoin (BTC). They have a wizard to guide users through this process. This is an excellent feature for those who don’t want to convert Bitcoin to AUD before spending, and is good for mainstream crypto adoption.

Features: Both exchanges have similar features that make it ideal for newcomers, but CoinSpot stands out with staking on 22 coins, and an NFT marketplace, which are not found on Digital Surge.

Digital Surge vs CoinSpot Fees

Trading fees, most of the time, are the decisive factor in the choice of exchange. The reason for this is that over a period, the fees can accumulate to a significant amount. Therefore, every investor should understand how fees are structured on different platforms before deciding.

Digital Surge charges a flat 0.5% fee for instant buying and selling for volumes less than $100,000 per 30 days. As this 30-day volume increases, the fee becomes even lower, eventually reaching 0.1%.

Spread is also another important factor in trading. Simply put, it is the difference between the buying and selling rates at the same time. Wide spreads are not good for investors, and Digital Surge offers the lowest spreads, averaging just 0.21% according to the results of a test conducted to determine the lowest combined fees and spreads.

There are no fees on AUD deposits by PayID, but deposits through POLi are charged a fee between $2–$3.30.

Digital Surge users can make AUD withdrawals to their Australian bank accounts without any fee.

CoinSpot charges 1% for instant buying or selling – double that of Digital Surge. However, if you buy or sell from other users on their market platform, the fee drops to 0.1%. This is very low, but the catch is that you can only access around 15 coins in this manner. For all the other coins, you can only purchase or sell instantly, incurring the 1% fee.  

AUD deposits by direct deposits (using OSKO), PayID and POLi are completely free. On the other hand, cash deposits have a 2.5% fee and if you deposit using BPAY, you’ll be charged a 0.9% fee.

CoinSpot also does not charge any fee for withdrawing AUD to Australian bank accounts.

Fees: Digital Surge is a clear winner here with the lowest trading fees and spreads. They charge only 0.5% as compared to 1% at CoinSpot, and have much tighter spreads, averaging 0.21%. However, if you want to use CoinSpot, you can access lower fees of 0.1% when trading one of 15 coins on the market.

Number of Cryptocurrencies

Digital Surge has more than 300+ different cryptocurrencies.

CoinSpot has over 360+ cryptocurrencies.

Number of cryptocurrencies: CoinSpot obviously wins. It has 360+ cryptocurrencies for instant buying or selling and they constantly add new additions.

Deposit Methods

Both Digital Surge and CoinSpot offer multiple deposit options for their users. Both exchanges support deposits using cryptocurrencies, POLi and PayID.

Apart from the above-mentioned deposit methods, CoinSpot also supports BPAY, cash deposits and direct deposits.

Deposit methods: CoinSpot is the winner here. It offers more deposit options than Digital Surge.

Digital Surge vs CoinSpot Security

When it comes to security, exchanges certainly have an important role to play. However, security responsibility also includes you, the user as well. In recent times, most crypto-related hacks have taken place because of the negligence of individual users rather than the platforms themselves. 

Sounds good? Alright, let’s see what security Digital Surge and CoinSpot offer.

Digital Surge was founded by people with a background in the IT industry and that is why their platform is built on the philosophy of security-first. This means that whether it’s their Chief Security Officer or the newest entry-level employee, everyone knows they play an important role in making the organisation secure.

Digital Surge’s platform is built on innovative multi-layered security features. They have a special process called hashing and salting to encrypt user passwords. This means that passwords on their network are extremely difficult to hack.

All transactions take place under encrypted SSL. Database (user information) and codebase data are held separately to prevent data leaks and minimise any potential threats.

Digital Surge supports both hot (online) and cold (offline) wallets with mandatory 2FA for login or withdrawals.

CoinSpot also has an excellent security culture. Since its foundation in 2013, CoinSpot has never been hacked. It is also a registered member of the Australian Digital Association and Blockchain Australia, which means they fully comply with the strict security standards of these organisations. 

CoinSpot restricts user activity under 2FA only. Their exchange also has a multi-layered framework that offers additional security.  

CoinSpot has received ISO 27001 certification, which means it has an excellent Information Security Management System (ISMS), and makes it the most secure and audited exchange in Australia.

Security: Both platforms follow AUSTRAC’s regulations regarding AML/KYC and offer industry-standard security features to their customers. However, CoinSpot has the coveted ISO 27001 certification and is the most audited and secure exchange in Australia.

Digital Surge vs CoinSpot Summary

CoinSpot and Digital Surge are two platforms that offer excellent mobile apps, hundreds of cryptocurrencies, and an interface that is very easy to use. Both also rank at the top in customer support with superb Live Chat options.

However, CoinSpot is a step above Digital Surge due to its longstanding reputation and trust in the industry, lower market trading fees, staking on 22 coins, and an NFT marketplace.

Still undecided? You can read our Digital Surge review and CoinSpot review, or take a look at this article on the best crypto exchanges in Australia for a more wide-ranging comparison.

About the Author Andy Carter

Andy Carter is the CEO of Freedom Dividend, where he teaches you about dividend income that can change your life for the better. As a financial expert, Andy explores securities investing (stocks & shares) with an aim to provide a steady flow of income, enough to sustain you in your life.

Share your thoughts

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}