If crypto trading has finally grabbed your attention and compelled you to pump your Aussie dollars in this market of $1.6 billion USD, then you need an exchanger/broker. The exchange will help you execute trades in exchange for your fiat currency. One of such popular Australian exchanges is Digital Surge. If you want to know more about it, read this detailed Digital Surge review till the very end.
Why Listen to Our Advice?
Whatever decision you take, especially in the financial space, you need someone with experience backing it up or at least guiding you about the good and bad. We’re that guiding light for you. We’ve done countless reviews on Australian crypto exchanges ranging from CoinSpot to CoinJar and Swyftx. So when we give our advice about something, we know what we’re talking about.
This detailed Digital Surge Review will help you understand the strengths and weaknesses of this platform so you can decide whether it’s for you or not. That said, let’s dive right in.
Basic Specifics:
●Name: Digital Surge
●Established in: 2017 in Queensland Australia
●Founder: Josh Lehman and Dan Rutter
●Type: Online Cryptocurrency Exchange
●Fiat Currency: Australian Dollar
●Cryptocurrencies: Bitcoin, Ripple, Litecoin, Etherium and over 230 more
Introduction to Digital Surge:
One of the most popular online cryptocurrency exchanges in Australia, Digital Surge provides its users with a straightforward way to buy, sell and trade crypto. It is a simple and user-friendly platform that makes it easier to understand crypto trading and its trends.
Based in Queensland, Digital Surge has a close-knit team that’s committed to building transparency and trust within the crypto community. But is that enough for you to join the platform and start pumping in your Australian dollars into its belly? Read on to know more.
Signing Up for Digital Surge:
Joining Digital Surge is a pretty straightforward process, just put in your information, verify your email and join the platform. Once done, you’ll have to go through the identity verification process, which is mandatory to ensure no illegal business is going on like money laundering.
For verification, you need to provide your selfie or a video with yourself smiling and turning your head sideways. It might be a little annoying, but KYC or know your customer laws require it.
The good thing is, you don’t have to provide an Australian Digital iD through the post as many other exchanges ask for.
Depositing Currency in Digital Surge:
Depositing on Digital Surge is similar to other exchanges. You can deposit AUD using three different methods given below:
●PayID: It is the best way to transfer funds because it’s instant, doesn’t have a fee, and the
daily limit is up to $10,000 AUD.
●BPAY: No deposit fee, you can get your funds instantly, but the daily limit depends on your
bank.
●POLi: Also transfers money instantly, but there is a fee of $2 to $3.3, and the daily limit is
also $1,000 AUD.
They currently don’t have the option to deposit using a credit card, cash or PayPal.
Trading on Digital Surge:
You can trade on the Digital Surge platform using two ways like many other exchanges. They have a ‘Markets’ section where you can trade Ethereum or Bitcoin with other Digital Surge users. Then they also have a ‘Buy & Sell’ section where you can buy and sell cryptocurrency directly from and to the Digital Surge instantly.
We’ve warned users in our previous reviews of exchanges like CoinSpot, CoinJar, Cointree and Bitaroo about the instant Buy & Sell options and asked them to use the Markets feature to make trades. The main reason behind this was their high trading fees on Instant Buy & Sell.
For instance, CoinSpot charges a whopping 1% trading fee for using Instant Buy & Sell, but for Market trading, the fee is just 0.1%.
However, Digital Surge is different in this case. That’s because its highest trading fee for both market and instant buy & sell is 0.5% if your 30-day trading volume is under $100k AUD. The higher your volume goes, the lower your fee will be; see the complete fee and trading volume tiers here.
