Digital Surge vs eToro Australia: Which crypto exchange is better?

Since its inception, Digital Surge has flown to prominence to become a leading crypto exchange in Australia. On the flip side, eToro has also experienced a rapid rise as a well-established broker that provides cryptocurrency as an investment option.

But which cryptocurrency exchange is better?

This article takes a deeper look at both of these leading cryptocurrency exchanges to establish which one performs better on some of the most important aspects of a cryptocurrency exchange.

We will look into the various fees associated with each currency, how many coins are on offer, the security they provide, and many other important factors.

Read on to see how Digital Surge and eToro Australia compare across different areas to help you choose the right cryptocurrency exchange for your needs.

Digital Surge vs eToro Australia:
Comparison Table

Digital Surge Pros & Cons

eToro Australia Pros & Cons

Digital Surge vs eToro Features

With cryptocurrency's meteoric rise to popularity, companies new and old scrambled to build businesses that accommodate these new customers' needs.

Digital Surge identified a gap in the market for a cryptocurrency trading platform that is easy-to-use and perfect for beginners. They noticed that many cryptocurrency exchanges get built with detailed and often complicated charts and dashboards, which can sometimes deter potential new investors.

So, they decided to build a cryptocurrency platform that anyone could use, even if you have never invested before. It takes just minutes to register and start purchasing cryptocurrency. If you have any trouble, the customer service team is second-to-none, and there is a live chat on offer if needed.

With more than 300+ cryptocurrencies to pick from, there are plenty of choices on offer, with new assets constantly getting added as they become available.

Alternatively, eToro Australia offers a few other features. You can open a demo account before investing any of your own money, for starters. In your demo account, you can practice trading with $100,000 without risk.

This is a great way for new investors to come to grips with the platform without making costly mistakes.

eToro also offers cryptocurrency CFDs, a feature not available on Digital Surge. A CFD is a contract for difference, and if you purchase a crypto CFD on eToro, you get paid the difference if your cryptocurrency goes up in price.

With a CFD trade, you don't own the cryptocurrency. Instead, you create a contract with eToro to pay the difference. This means you can also bet on the price of a certain crypto to fall and profit from this, without having to own the cryptocurrency itself.

eToro rose to prominence due to its focus on social trading. There is a News Feed within the app, and traders can interact with other traders. This feature is excellent and helps eToro differentiate from other cryptocurrency exchanges.

Digital Surge vs eToro Fees

If you purchase via PayID, Digital Surge will offer you fee-free fiat deposits. But if you want to make a deposit using POLi, you will pay anywhere from $2 to $3.30, depending on how much you are depositing.

On top of that, Digital Surge lets its users withdraw to their bank for free. If you are purchasing or selling cryptocurrency, every transaction comes with a 0.5% fee, with the lowest spreads in Australia.

eToro Australia charges zero fees for depositing, but anyone operating in Australia should expect to pay a currency conversion fee. This fee is 50 pips for a bank transfer and 100 pips for a PayPal, POLi, Credit, or Debit card deposit.

eToro's crypto trading fees are 1% for each transaction.

When it comes to withdrawals, eToro charges a $5 flat fee for every withdrawal and a 50 pips currency conversion fee.

Number of Cryptocurrencies

Digital Surge has more than 300+ different cryptocurrencies.

eToro Australia has just 75 cryptocurrencies.

Deposit Methods

Digital Surge offers PayID, bank transfer and POLi.

eToro Australia accepts Direct Deposit, POLi, PayPal, Credit Card, or Debit Card.

Digital Surge vs eToro Australia Security

Digital Surge is easily one of the best cryptocurrency exchanges regarding security. For starters, Digital Surge has never gotten hacked, which is the most obvious sign that they are a reliable and secure exchange.

Digital Surge is registered with ASIC and AUSTRAC and adheres to the KYC and AML requirements. Almost all of their digital assets are stored offline, ensuring customers are highly protected, and even if they did get hacked, the impact would be minimal.

Both eToro and Digital Surge only work with tier 1 banks, securing customer funds in the safest way possible. They both protect their customer's personal information with SSL encryption.

eToro also stores most of its crypto assets offline.

Digital Surge vs eToro Summary

In summary, Digital Surge and eToro are both excellent crypto currency exchanges for you to use, depending on what you are looking for from your crypto exchange.

Digital Surge offers plenty more coins to invest in compared to eToro, but eToro's social aspect is a really strong selling point for new or under-confident investors. Having the ability to contact other traders and see their investment opinions is useful if you are not confident in your analysis.

However, Digital Surge does the basics exceptionally well. The mobile app is smooth and easy to use, and the customer service is second-to-none. They also charge less for each deposit and withdrawal and make a great choice for new investors.

If you are looking for a basic crypto exchange with low fees, low spreads, over 300+ coins and live chat support, then Digital Surge is an excellent choice. However, if you are interested in other assets like stocks and forex, want to interact with other investors, or bet on the price of cryptocurrency going down, eToro is the better platform for you.

If you are still researching various crypto platforms, then you should read this article about the best crypto exchanges in Australia. You are sure to find one suitable for your needs.