There's no question that crypto exchanges have been on the rise in recent years. With the surge in interest in cryptocurrencies, more and more people are looking to get involved in the market. But with so many exchanges out there, it can be tough to know which one is right for you.
Digital Surge and Independent Reserve are two of Australia's most popular crypto exchanges. Both platforms offer a wide range of features and benefits for users. So, which is the better option for you?
The answer, of course, is that it depends. It depends on what you're looking for in a crypto exchange. Are you looking for low fees? A user-friendly interface? A large selection of coins?
We'll take a look at their fees, features, security measures and weigh up the pros and cons of each to help you make an informed decision about which one is best for your needs.
Digital Surge vs Independent Reserve: A Brief Overview
Digital Surge is an Australian crypto exchange that offers a hassle-free experience for users looking to buy or sell cryptocurrencies. Dan and Josh founded this crypto exchange in 2017 with one goal: to make cryptocurrency buying easy for everyone. This platform allows you to deposit AUD and trade over 300 different cryptocurrencies from around the world while maintaining optimal levels of security.
On the other hand, Independent Reserve is a leading Australian cryptocurrency exchange that supports high-volume traders, institutional investors, and SMSFs. This well-established platform was founded in 2013 by two Sydney entrepreneurs, Adrian Przelozny and Adam Tepper, to provide an innovative solution for Aussies looking into digital currencies like Bitcoin or Ethereum.
Digital Surge vs Independent Reserve:
Comparison Table
Header |  |  |
|---|---|---|
Coins | 300+ | 27 |
Trading Fee | 0.5% | 0.5% |
Deposit Fee | PayID: Free; POLi: $2 - $3.30 | PayID: $2.50; POLi: $0.99 |
Withdraw Fee | Free | Free |
Payment Options | POLi, PayID | POLi, PayID |
Pros | - 24/7 customer support - User-friendly interface - Over 300+ coins available | - Offers insurance to cover crypto assets - Accepts AUD, NZD, USD, SGD |
Cons | - Only accepts AUD - No insurance on crypto | - High deposit fees for lower amounts - Limited coins available |
Cell |
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Header | | |
|---|---|---|
Coins | 300+ | 27 |
Trading Fee | 0.5% | 0.5% |
Deposit Fee | PayID: Free; POLi: $2 - $3.30 | PayID: $2.50; POLi: $0.99 |
Withdraw Fee | Free | Free |
Payment Options | POLi, PayID | POLi, PayID |
Pros | - 24/7 customer support - User-friendly interface - Over 300+ coins available | - Offers insurance to cover crypto assets - Accepts AUD, NZD, USD, SGD |
Cons | - Only accepts AUD - No insurance on crypto | - High deposit fees for lower amounts - Limited coins available |
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Digital Surge Pros & Cons
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Independent Reserve Pros & Cons
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Digital Surge vs Independent Reserve Features
Digital Surge's goal is to make it simple for beginners who want to trade in cryptocurrency without having any technical know-how. This cutting-edge platform takes the confusion out of cryptocurrency investing.
They do this with a user-friendly interface that allows you to buy crypto in minutes, rather than wasting hours trying to figure out charts or reading complicated articles online. The platform also offers a mobile app, allowing you to trade on the go.
You can invest in over 300+ coins with a few clicks and get your cryptocurrencies fast without any hassle!
Independent Reserve also has a user-friendly interface and offers a mobile app for trading on the go.
The platform's FastTrack service allows users of all experience levels to get registered with their platform in just minutes while still putting together trades within the platform quickly, thanks to a robust interface.
It also allows you to buy cryptocurrencies instantly using AUD, NZD, USD, and SGD. You can trade up to 27 different crypto coins on the site. In addition, there's 24/7 support available if anything goes wrong during your purchase process.
Digital Surge vs Independent Reserve Fees
Digital Surge is the perfect solution for traders looking to take advantage of quick trades with low fees and spreads. Digital Surge came 1st in the results of a test to find the lowest combined fees and spreads in Australia.
Fees for trading crypto are charged at a 0.5% fixed rate, which can be lowered if you trade large volumes in the previous 30 days. There are no fees for withdrawing AUD, but if you withdraw crypto you will be charged a flat fee depending on the coin.
The best part about Digital Surge is the low deposit fees. PayID and Cryptocurrency deposits are free and POLi deposits start at $2 and go up to a max of $3.30 per transaction.
Independent Reserve is most accommodating to high volume traders, as EFT and PayID deposits of $100 and $1,000 respectively are free.
High-volume international currency holders can benefit from free deposits of $5,000 or more. However, trades with lower values incur a $15 deposit fee - not such an attractive option.
Smaller EFT deposits incur a flat rate of $0.99 fee while smaller PayID transactions are charged at $2.50 per transaction.
Fees: Digital Surge wins the fees section, because they have the lowest combined trading fees and spreads in Australia, and they have free AUD deposit and withdrawal options.
Number of Cryptocurrencies
Digital Surge has over 300+ different cryptocurrencies.
Independent Reserve has 27 cryptocurrencies.
Number of cryptocurrencies: Digital Surge easily wins, with over 300+ different cryptocurrencies on offer, whereas Independent Reserve has a limited range of 27 coins.
Deposit Methods
Digital Surge offers PayID and POLi.
Independent Reserve accepts PayID and POLi.
Deposit methods: This is a tie, with both exchanges offering the same deposit methods.
Digital Surge vs Independent Reserve Security
The team at Digital Surge takes security very seriously and has created a number of innovative ways for traders to have their assets protected. Not only do they have 2FA for withdrawals and high levels of sophistication in their multi-layered system that blends functionality with protection but also regular reviews to ensure all risks can be mitigated before they become an issue.
They provide encrypted SSL connections for all website traffic, strong passwords from a single salting and hashing function (no common word lists!), and app credentials that aren't leaked when mined or decompiled by hackers. Moreover, every employee at this company must go through rigorous criminal background checks.
Independent Reserve also shines in its security features. The exchange utilizes multiple layers of security, including cold storage, two-factor authentication, and IP whitelisting to ensure that your funds are always safe. Independent Reserve also offers features such as email notifications for all transactions and PGP encryption.
Independent Reserve also offers insurance cover for cryptocurrencies if you opt to pay for the plans. This can give users additional peace of mind, and is especially useful for high net worth individuals or institutions that have a lot of crypto held on Independent Reserve.
Security: This is another tie, as both exchanges are very secure and have multiple layers of security.
Digital Surge vs Independent Reserve Summary
Choosing between Digital Surge and Independent Reserve comes down to your specific needs. If you are a high net worth individual or large retail investor, Independent Reserve is probably the better option for you. Digital Surge is more suitable for those who are just starting out with crypto, or want access to a much larger range of 300+ coins.
While Independent Reserve may have a longer-standing history and insurance cover, Digital Surge offers a more user-friendly interface, more cryptocurrencies, lower fees, and better customer service. Digital Surge is also the #1 crypto exchange for Australians.
If you are still trying to make up your mind, you can also take a look at the best crypto exchanges in Australia which covers a range of top crypto platforms.
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