Digital Surge review

By   |   Verified by David Boyd   |   Updated 13th September 2021

Digital Surge crypto trading review

Digital Surge offers a low-cost and hassle-free way to purchase, sell, and store cryptocurrency. Its platform emphasises simplicity, making crypto easy to understand and highly accessible even for complete beginners.

Digital Surge is a great option for traders of all levels, not least because of its affordable fees, competitive spreads, and customer service. But is it the right exchange for you? Read on for a full review.

What is Digital Surge?

Digital Surge is an Australian-owned and managed cryptocurrency exchange.

The platform, which is designed to be easy to use, allows users to deposit Australian dollars (AUD)and buy a variety of more than 200 cryptocurrencies.

Is it safe?

Yes. Digital Surge employs industry-standard security policies like two-factor authentication and server encryption. There have been no publicly-disclosed security breaches. Interestingly, they run a criminal background check on their employees.

Digital Surge Pty Ltd (ACN 620 473 109), the company that operates the service, are registered with AUSTRAC and must conduct their business within their regulatory framework.

Users can use hot and cold storage wallets, meaning they get the best of both worlds.

Who is Digital Surge aimed at?

Digital Surge exists to make cryptocurrency accessible to just about anyone. And with a platform as beautifully designed as theirs, I’d say they have achieved that. The user-experience is second to none and inspires confidence, particularly in users who are new to trading.

Is this the platform for sophisticated investors looking to trade options and futures? No. But for anyone else — especially beginners — who wants to buy and HODL crypto and altcoins, Digital Surge is a good option.

Tradable coins

Users can buy and sell the following coins using AUD on Digital Surge:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • EOS (EOS)
  • Stellar Lumens (XLM)
  • Tezos (XTZ)
  • Algorand (ALGO)
  • NEO
  • Theta (THETA)
  • Basic Attention Token (BAT)

In addition to these well-known coins, Digital Surge supports 250+ others. Digital Surge do not have their own coin.

Pay your bills with crypto

While this is not unique to Digital Surge — Cointree, for example, also offers crypto bill pay — the ability to pay any Australian bill or credit card with a BPAY biller number using Bitcoin is a fantastic feature.

Fees

Digital Surge is a low-cost exchange.

  • Instant buy and sell fees: 0.5% for both.
  • Trading fees: Ranging from 0.5% to 0.1% depending on 30-day trading volume.
  • Withdrawal fees. There are no fees associated with AUD withdrawals. There is a network transaction charge when transferring to an external wallet. The fee per currency differs depending on how busy the network is, but you’ll be able to see the cost before you withdraw.
  • Deposit fees. There are no fees when you use PayID or cryptocurrencies to make a deposit. If you use POLi to deposit, fees start at $2 and go up to $3.30.

Pros and cons

Pros

  • The user interface is simple and intuitive, making it ideal for beginners.
  • Fees are low and the fee structure is clear.
  • Signing up and starting to invest takes only a few minutes.
  • Price notifications, trigger orders, and recurring purchases are all accessible to you.
  • 24 / 7 customer service via chat and email.

Cons

  • For fiat deposits, AUD is the sole choice. A minor issue for most in Australia.
  • Credit cards can’t be used to fund an account.
  • Only a spot market for BTC-AUD and ETH-AUD is available.
  • Digital Surge isn't the exchange for you if you're seeking to trade large amounts of Bitcoin or Ethereum on a real marketplace.

Alternatives

There are many alternatives to Digital Surge with a similar set of features, and many more with other functionality. These are some of the best Australian and international options.

  • CoinSpot. More than 1 million people use this Australian-owned exchange to trade more than 300 digital currencies.
  • Swyftx. One of the few Australian exchanges with a demo mode to practice trading. Generate full tax reports in AUD for quick and compliant tax accounting.
  • CoinJar. Based in Australia, Coinjar is a marketplace for crypto traders. AUSTRAC-regulated. Use a virtual and physical debit card to buy in local currency.
  • Independent Reserve. Sydney-based exchange with more than 200,000 users.
  • BTC Markets. A relatively old crypto exchange for trading Bitcoin and other cryptocurrencies. One of the few Australian exchanges to offer staking.
  • Cointree. Another Australian owned and operated exchange. Follow and invest in portfolios and use crypto to pay bills.
  • Binance. Buy and sell hundreds of crypto currencies, stablecoins, altcoins, NFTs, and DeFi tokens.
  • Coinbase. One of the best-known brands in crypto trading. Fee structure is not very clear, but their platform is battle hardened.

FAQs

Does Digital Surge have a demo account?

No.

Is Digital Surge crypto insured?

No. Digital Surge's website makes no mention of their coins being insured.

How do I fund a Digital Surge account?

Depositing on Digital Surge is similar to depositing on other exchanges. PayID (immediate) or a traditional POLI/bank transfer are both options for depositing AUD. When you make a deposit into your Digital Surge account, you'll be given a unique PayID (email address) that you'll use to make the transaction. Nobody else should have access to your PayID, and money should only come from your bank.

How do I withdraw crypto from Digital Surge?

While deposits use PayID, withdrawals still require your BSB and account number. However, Digital Surge added NPP/Osko as an alternative way to withdraw funds.

Verdict

If you live in Australia, and especially if you are new to cryptocurrency, Digital Surge is an exchange you should look into. It’s hard to overlook its combination of classy user-experience, fast deposits, competitive trading fees, tradable coins, free AUD withdrawals, and 24 / 7 customer service.