Independent Reserve alternatives

Compare the best alternatives to Independent Reserve for Australian crypto traders.

Andrew Boyd avatar
Written by   |  
David Boyd avatar
Verified by
Updated 26 Nov 2024   |   Rates updated regularly

Comparing of 9 Independent Reserve alternatives

Swyftx

On website

Featured

Swyftx

Highlights

  • Trade hundreds of coins, assets, tokens and digital currencies, plus DeFi tokens like Compound, Sushi and Yearn Finance.
  • Has lower spreads than other exchanges if you are trading smaller cryptocurrencies, like Independent Reserve.
  • Trade using virtual funds in demo mode, which is not available at Independent Reserve.

Pros

  • Trade more than 300 crypto assets through the Swyftx platform.
  • Offers tight spreads and low trading fees.
  • Get support within 5 minutes through their live chat.
  • Practice trading with a demo mode.

Cons

  • Lacks access to advanced trading markets.
eToro

On website

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Highlights

  • Best known for its social copy trading and margin trading, which are not available in Independent Reserve.
  • Copy the trades of experienced investors across thousands of instruments, including exchange-traded securities, forex, CFDs, and popular cryptocurrencies.
  • Deposit and withdraw actual cryptocurrencies stored by eToroX, which functions as its private key custodian and broker.
CoinSpot

On website

Highlights

  • Purchase, trade, and sell Bitcoin, Litecoin, Dogecoin and hundreds more cryptocurrencies in a few minutes, way more than what’s available at Independent Reserve.
  • Choose from a wide range of fiat deposit options like POLi payments, PayID, BPAY and cash – all with no deposit or withdrawal few.
  • Coinspot offers hundreds of available trading pairs, which is much more compared to Independent Reserve.

Pros

  • Trade for only 0.1% and withdraw in AUD for free.
  • Multiple deposit options.
  • Access CoinSpot NFT Marketplace.
  • CoinSpot is regulated by AUSTRAC and is ISO certified

Cons

  • Margin trading is not available.
Coinbase

On website

Finty may be compensated when you click on the link.

Highlights

  • One of the best-known exchanges in the world, with high buying limits.
  • Coinbase isn’t regarded as the cheapest option and their fee structure is confusing.
  • Coinbase and Independent Reserve have theft insurance coverage and store most of their customer’s digital assets offline.

Pros

  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Advanced trading includes Market, Limit, Stop Limit, and Auction Mode orders.

Cons

  • Fees are higher compared to other exchanges.
Binance Australia

On website

Highlights

  • Low trading fees and a huge range of cryptocurrencies, with more trading pairs than Independent Reserve.
  • Best known for its extensive altcoin list, which includes more than 500 options for non-US customers.
  • Fiat and margin trading are available on the exchange, which is not possible on Independent Reserve.

Pros

  • It has some of the lowest trading fees out there. 0.1% for spot trading and 0.5% for instant buy or sell fees.
  • Credit card or debit card deposits are accepted.
  • Provides charting and trading tools suitable for advanced crypto traders.

Cons

  • The platform UI can be complicated to learn for new investors.
Kraken

On website

Highlights

  • Kraken is a good fit for experienced investors who want to take advantage of margin trading and other advanced features.
  • Trade margin, stop orders, and crypto short sales, which are not available in most exchanges.
  • Has a mobile app available for iOS and Android, while Independent Reserve has none.

Pros

  • Large selection of tokens to trade.
  • Earn rewards by staking eligible assets.
  • Access to a range of educational materials.

Cons

  • Limited options to fund your account.
CoinJar

On website

Highlights

  • Trade a similar number of cryptocurrencies as you can on Independent Reserve.
  • Buy and sell cryptocurrencies with fiat currency (AUD and GBP only) if you’re based in Australia, while Independent Reserve offers more fiat currencies (AUD, USD, NZD, SGD).
  • Offers easy-to-use products such as a crypto debit card, crypto EFTPOS card and secure CoinJar wallet app for mobile, most of which aren’t available with Independent Reserve.
  • Access to an extensive knowledge base with a comprehensive library to assist traders.

Pros

  • Extremely user-friendly interface.
  • You can use a credit card or debit card to buy crypto.
  • Has a competitive fee structure.
  • Earn rewards with CoinJar Earn.

Cons

  • Limited crypto tokens to trade compared to other platforms.
Cointree

On website

Highlights

  • Competitive fees for quick buys and sells, which are slightly lower than Independent Reserve.
  • Accredited member of both ADCA and AUSTRAC, which ensures that the security and technology of Cointree is second-to-none.
  • Maintains the highest level of transparency. All quotes are specified, which is a significant point of difference compared to other exchanges.
  • Deposit funds (AUD) in your trading account at any time using PayID and trade immediately with these instant deposits.

Pros

  • Cointree has competitive fees for quick buys and sells.
  • You can view and copy the portfolios of recently successful traders.
  • Fast and easy trading with the Cointree app.
  • Get customer support 24/7.

Cons

  • Account verification may take up to 48 hours.
Gemini Exchange

Highlights

  • Trade a limited number of crypto-to-crypto trading pairs compared to Independent Reserve, as well as 40 cryptocurrencies, including Bitcoin and Ethereum.
  • Directly trade between buyers and sellers through the Gemini Clearing portal (peer-to-peer trading).
  • Safely store any of your coins or tokens with Gemini's hot wallet and institutional cold storage options (Gemini Custody).

Pros

  • Suitable for both beginner and advanced traders.
  • Supports multiple fiats and cryptocurrencies.
  • You can earn interest on your cryptocurrency balances.
  • Its mobile apps are highly rated.

Cons

  • The fee structure can be expensive for both small trades and higher volume trades.

    As seen on

    Media - The Sydney Morning Herald
    Media - Yahoo Finance
    Media - News.com.au
    Media - Daily Mail Australia
    Media - Australian Fintech
    Media - Dynamic Business