Digital Surge is the #1 crypto exchange in Australia, and Kraken is one of the oldest crypto platforms, established in the USA in 2011. They are both very popular, so which one should you choose if you are in Australia?

Long story short, Digital Surge is the better option for beginners, with a much wider range of 300+ coins, low fees and spreads, Australian live chat support, and a user-friendly experience. If you have some experience trading, then you should opt for Kraken, with low market trading fees, advanced features like futures and margin trading, and more detailed charts and analysis tools using Kraken Pro.

Read our full comparison between Digital Surge and Kraken to see if you agree with us, and to see how we came to our decision.

Digital Surge vs Kraken:
Comparison Table

Header

Coins

300+

19

Trading Fee

0.5%

Varies

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Varies

Withdraw Fee

Free

Free

Payment Options

POLi, PayID

OSKO, Google Pay, Apple Pay, Credit card, Debit card

Pros

- Live chat support

- Excellent for beginners

- Over 300+ cryptocurrencies

- Staking to earn interest

- Margin trading, futures and forex supported

Cons

- No staking available

- No advanced trading markets

- Only 19 coins available in Australia

- High fees for instant buy/sell

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(Swipe across screen to see full table)

Header

Coins

300+

19

Trading Fee

0.5%

Varies

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Varies

Withdraw Fee

Free

Free

Payment Options

POLi, PayID

OSKO, Google Pay, Apple Pay, Credit card, Debit card

Pros

- Live chat support

- Excellent for beginners

- easy to use on mobile app and desktop site

- Staking to earn interest

- Margin trading, futures and forex supported

Cons

- Higher trading fees

- No advanced trading markets 

- Only 19 coins available in Australia

- High fees for instant buy/sell

Cell

Digital Surge Pros & Cons

Pros

  • Excellent for beginners - easy to use
  • #1 best crypto exchange in Australia
  • Low fees and spreads
  • Over 300+ coins available
  • Mobile app and desktop site available
  • Live Chat and email customer support

Cons

  • No staking available
  • No advanced trading markets

Kraken Pros & Cons

Pros

  • Staking to earn interest on your crypto
  • Advanced markets such as margin trading, futures and forex
  • Advanced charts and analysis tools on Kraken Pro for experienced traders
  • Mobile app so you can trade any time
  • Low trading fees on the market (0.16% for makers, 0.26% for takers)

Cons

  • Only 19 cryptocurrencies supported in Australia
  • High fees of 1.5% for instant buy and sell

Digital Surge vs Kraken Features

Digital Surge focuses on being a basic crypto exchange for Australians to get started with buying and selling cryptocurrency, taking the confusion out of the process. They have certainly done this well, as even a complete newbie to crypto can buy and sell over 300+ coins using AUD. The sign-up process is hassle-free and if you do encounter any problems, you can simply contact the live chat support team. They also have a unique feature where you can use your Bitcoin to pay any Australian bills that accept BPAY. This is not only convenient, but a good step towards making crypto more mainstream in Australia.

Kraken is a simple crypto trading platform, that also has some more advanced features and markets for the experienced traders. If you are a beginner, you can access an instant buy/sell feature, and if you prefer trading on the markets, you will receive lower trading fees and detailed charts and technical tools. You can also access margin trading, forex, futures trading and staking on Kraken, which are not supported on Digital Surge. 

Features: Kraken wins the section on features because not only do they cater for beginners, but they also have more advanced options for experienced traders. Staking, margin trading, futures and forex are just some of what Kraken can offer, that Digital Surge does not.

Digital Surge vs Kraken Fees

Digital Surge has free fiat deposits via PayID, but depositing with POLi will cost between $2 - $3.30. Withdrawing AUD to your bank account is free. When you buy and sell crypto, the fee is 0.5%, which can be reduced if you are a high volume trader.

Kraken has free AUD deposits if you choose bank transfer/OSKO.

If you choose to use Apple Pay or Google Pay, the fee is 3.75% + $0.25.

For credit or debit card, the fee is 3.75% + €0.25. (Yes, that is €0.25, not $0.25. The card transactions will be made in EUR, even though you live in Australia. The purchase amount is converted to EUR before the charge is made to your card, so you need to check your bank allows AUD to EUR conversions before using this payment method.)

Instant buy/sell or swapping of cryptocurrencies will cost you 1.5%

Trading crypto on the market is much cheaper, at 0.16% for makers and 0.26% for takers.

Withdrawing AUD to your bank account is free.

Fees: Digital Surge has lower deposit fees, and the trading fees are set at 0.5% which is much lower than Kraken's instant buy/sell/swap fee of 1.5%. However, if you plan on trading on the market, then Kraken's fees of 0.16%/0.26% are lower than Digital Surge's 0.5%.

Number of Cryptocurrencies

Digital Surge has over 300+ different cryptocurrencies.

Kraken offers a limited range of 19 different coins to Australians. They have a wider total selection of coins, but in Australia you cannot access them all.

Number of cryptocurrencies: Digital Surge wins with a huge range of over 300+ cryptocurrencies while Kraken only supports a small number in Australia.

Deposit Methods

Digital Surge offers PayID and POLi.

Kraken accepts OSKO, Google Pay, Apple Pay, credit card and debit card.

Deposit methods: Kraken has more payment options, including Google Pay, Apple Pay and credit/debit cards.

Digital Surge vs Kraken Security

Digital Surge maintains a high level of security, and is registered with ASIC and AUSTRAC,. Digital Surge meets all their strict AML and KYC requirements and continually monitor and update their security protocols. Most of Digital Surge's crypto assets are held offline in cold storage, to ensure safety from hackers, and they have not had any cybersecurity breaches since their establishment in 2017. 

Kraken is serious about security, utilising various safety protocols to maintain a safe trading platform for their huge user base. They store over 95% of their digital assets offline in cold storage, and have their servers in secure cages surrounded by armed guards. Kraken is regulated in the USA by FinCEN, and they offer financial stability with full reserves, and comply to all necessary legislation.

Security: This is a tie since both Digital Surge and Kraken are very secure cryptocurrency exchanges. 

Digital Surge vs Kraken Summary

Digital Surge and Kraken are two top-tier cryptocurrency platforms available in Australia, and you can't go wrong with either of them. Our recommendation is to use Digital Surge if you are a complete crypto beginner, as you will be able to access the lowest fees and spreads when instantly buying/selling 300+ different cryptocurrencies. If you are confident with what you are doing in crypto, then sign up for Kraken, with lower fees of 0.16%/0.26% maker/taker fees if you trade on the market. There are advanced markets and staking available on Kraken, giving you more options than just basic buying and selling. However, you need to remember that there is a limited range of only 19 coins on Kraken in Australia. 

If you are still undecided, or you want to keep researching other exchanges in Australia, read this article on the top crypto exchanges in Australia which can help you make up your mind.

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.

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