The cryptocurrency market has gained momentum in the last decade or so and now more and more people are looking for legitimate crypto exchanges so they can begin investing.
If you do a quick internet search on the best crypto exchanges, the name Digital Surge pops up as a great option for Australians. So to determine if it really lives up to the hype and explore its functionality, we decided to review it.
In this article, we’ll cover all the details that you should know about before you start trading on this platform.
The topics we will discuss include:
By the end of this post, we trust that you’ll have a good idea of whether or not Digital Surge is the right crypto exchange for you. So let’s begin!
Digital Surge is an up and coming crypto exchange for Australian residents and businesses. Founded in 2017, it initially supported just two cryptocurrencies but now it’s grown to include more than 200 coins and thousands of active users.
Let’s now look at some of the main features that you should know about before signing up.
This crypto exchange is ideal for new users. We’ve used and reviewed other Australian crypto exchanges as well but this is hands-down one of the most beginner-friendly ones in our experience.
That’s because it has a simple user interface which makes it easy for novice traders to find the relevant information. And the platform also has a column for advice and updated information on how to analyze the crypto markets. So that can help you begin trading without prior experience.
Yes, Digital Surge has mobile and desktop apps. You can download them from your dashboard on the website and then install them on your device. The apps are user-friendly and we found them to be super easy to navigate.
The platform only supports AUD as the fiat currency since it’s made primarily for Australian residents. It supports over 200 crypto coins on its platform including BTC, ETH, EOS, XVG, XLM, XRP, BCH, LTC, UNI and more.
Digital Surge is a great crypto exchange for users due to its simplistic user interface, quick verification process and secure payments. After reviewing the platform in detail, we can say that it definitely has way more pros than cons.
Some of its benefits include:
Although a great exchange platform for regular crypto enthusiasts, Digital Surge is a bit restrictive for serious traders.
Some of its drawbacks include:
Creating an account takes just a few minutes. And like other leading crypto exchanges you’ve got to provide an email address and a few other details to get started. The signup took us a total of 3 minutes and a few seconds, which is much faster than Binance or CoinSpot.
Here’s how the signup process works on Digital Surge:
Closing a digital surge account is also an easy process. You can use the built-in deletion option or email them in case there is a problem, which there shouldn’t be.
Digital Surge Referral Code
Before signing up to Digital Surge make sure you use our Digital Surge referral code to get 50% discount on your trading fees. Click here to activate your Digital Surge referral code.
Just like the other features of the platform, trading is also incredibly user friendly. All the information you’ll need to see is displayed clearly so you know exactly where to enter the amount you want to buy or sell, how many available funds you have and what the transaction fees are.
You can create a watch list of your favourite cryptocurrencies on your dashboard and view the market changes and current price of each in real-time.
To make a trade you can click on the currency from your watch list or the buy & sell option from the top of the page enter the amount in AUD click on the buy button. In the picture here, since we’ve opened the window for Bitcoin the button says buy Bitcoin.
We did find that the spot exchange option is not available for all the 200+ cryptocurrencies available on Digital Surge. You can only spot trade BTC-AUD and ETH-AUD which is a drawback for some traders.
The security features of this crypto exchange are one of its most attractive qualities. And the platform does a great job of strategically highlighting these features to ensure its users that their assets are secure.
Here’s what digital surge has in place to secure its platform:
As we said above, a great feature of Digital Surge is its transparent fee structure and reasonable fees. The instant buy and sell fees for all transactions are set at 0.5% of your trading volume.
Here’s the breakdown of the other fees:
You can use multiple methods to deposit AUD in your digital surge wallet. These include direct** **bank transfers and cryptocurrency. It’s free to deposit your cryptocurrencies in the Digital Surge wallet. The three primary ways for the direct transfer of AUD are:
The trading fees on Digital surge vary according to each user’s monthly trading volume. Higher volume equals to lower trading fees. We love this feature as it incentivizes larger trades and shows that the platform cares about its users.
Here’s the breakdown of the trading fees:
|Trading Fee||Trading Volume In The Past 30 Days [AUD]|
|%||Minimum Value In $||Maximum Value In $|
|0.1||1 million||Over 1 million|
These values are as of Sep 2021. Please visit the source to get the latest information.
Staying true to their goal of making crypto trading easier for Aussies, this exchange applies no fees on AUD withdrawals to an Australian bank. There is, however, a minimum limit of $20 on withdrawals.
For withdrawing crypto coins to an external crypto wallet, the standard network transaction fee is applied.
Looking at Digital Surge from a bird’s eye view might give you the impression that most of its features are like other crypto exchanges but a close review of the platform highlights some of the unique features that make it stand out from its competition.
Here’re the additional features that we love about Digital Surge:
Although not the only platform to do so, Digital Surge offers its users the facility to pay Australian bills with Bitcoin. The process is incredibly efficient to encourage users to try it out.
You can set up your billing details in just a few minutes to pay your gas, electricity, tax, phone, and insurance bills straight from Digital Surge.
The founders of Digital Surge have always emphasized how they want this platform to serve all levels of traders. Keeping true to their mission, the crypto exchange has a blog section where you can get information on Bitcoin and Altcoins along with trading wisdom from experts and cryptocurrency trading guides.
This section covers topics in detail including crypto news and discusses all the information one might need to know to begin trading.
Spread is the difference between the buy and sell price and a critical indicator for determining how good an exchange platform is.
Digital Surge offers tight competitive spreads with an average value of approximately 0.4% which you won’t find on most other local or international platforms out there. For comparison, the average spread on CoinSpot is approximately 2.2%.
You can calculate spreads by dividing the buy price by the sell price and taking away one. In the example screenshots here, the spread is 0.26%.
Digital Surge’s affiliate program is also uniquely designed. You get a 50% commission on the net trading fees of the people who sign up on the exchange using your affiliate link. Remember, it’s 50% of the trading fees which are between 0.5% and 0.1% depending on the trading volume.
To help you understand why Digital Surge is gaining popularity in the crypto exchange market, you should look at it in comparison with the other exchanges. Aussies can use any of the international platforms as well since some of them do support AUD as the fiat currency.
Here’s an overview of the three leading crypto exchanges in Australia:
Comparison Of Leading Crypto Exchanges in Australia
|Live Customer Support||Yes||Yes||Yes|
|Trading Fees||0.1%- 0.5%||0.1%-1%||0.05%-0.9%|
This data is as of Sep 2021. Please visit the source links for updated information.
Overall, our experience with Digital Surge was exceptional. The platform is user-friendly and offers additional unique features on top of all the things that any other big exchange brings to the table.
Its pros outweigh the cons. So if you’re looking for an Australian crypto exchange to begin trading then Digital Surge is a wonderful option where you can trade in 200+ cryptocurrencies and also learn trading secrets from industry experts!