Digital Surge cryptocurrency exchange – December 2018 review

Digital Surge Cryptocurrency Exchange
Digital Surge Cryptocurrency Exchange
  • User-friendly interface
  • Buy BTC with AUD
  • Pay bills with BTC
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An Australian platform that lets you buy, sell and pay bills with bitcoin (BTC)

Digital Surge is an Australian digital currency exchange designed to offer safe and simple crypto trading. With a focus on ease of use, the platform allows users to buy and sell bitcoin (BTC), as well as pay any Australian bill using your BTC holdings.

What features does Digital Surge offer and is it the right crypto exchange for your needs? To help you find out, we’ve compiled this review of the pros and cons of Digital Surge.

Product Name Digital Surge Cryptocurrency Exchange
Fiat Currencies AUD
Cryptocurrencies BTC
Deposit Methods Bank transfer
POLi
Trading Fee 0.1-0.75%
Deposit Fees Bank transfer: None
POLi: $2-3.30
Withdrawal Fees AUD: Free
Cryptocurrency: 0.0004 BTC

Pros

  • Buy bitcoin with AUD in minutes
  • Pay with POLi or bank transfer
  • Fast sign-up and verification
  • Transparent fee structure
  • Beginner-friendly and simple to use

Cons

  • Only supports bitcoin
  • Unless you’re a high-volume trader, fees may be costly
  • Credit card transactions not supported
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Digital Surge?

Based in Brisbane, Digital Surge has a mission to enable the use of cryptocurrency in everyday life. Designed to be easy to understand and use, the platform allows users to deposit Australian dollars (AUD) via bank transfer or POLi Payments, and then use those funds to start trading BTC.

Digital Surge offers instant account verification and deposits, allowing crypto newcomers to acquire BTC within minutes. It also allows you to set your own buy or sell price and trade directly with other verified Australian users through the exchange.

Which cryptocurrencies can I buy/sell?

Digital Surge only allows users to buy and sell bitcoin.

Available countries

Digital Surge is an Australia-based digital currency exchange designed for use by Australian traders.

Which payment methods are accepted?

You can deposit funds into your Digital Surge account via two methods:

  • POLi Payments
  • Bank transfer

It’s also possible to pay bills with BTC using the Digital Surge Pay Wizard. Bills can be paid using BTC stored in your Digital Surge wallet or in an external wallet.

How much will it cost me to use Digital Surge?

If you’re depositing money into your account via bank transfer, no fee applies. However, POLi Payments deposits attract a fee of anywhere between $2 and $3.30.

There are no fees for AUD withdrawals, but bitcoin withdrawals attract a 0.0004 BTC fee to cover the cost of network transaction fees.

Trading fees vary according to your 30-day trade volume, as outlined in the table below:

Trading fee30-day AUD trade volume
0.75%Less than $10,000
0.70%Less than $40,000
0.60%Less than $70,000
0.50%Less than $100,000
0.40%Less than $200,000
0.30%Less than $400,000
0.20%Less than $800,000
0.15%Less than $1.5 million
0.10%Greater than $1.5 million
Go to site Digital Surge's website

How fast will my funds be available?

The time it will take for the funds you send to arrive in your Digital Surge account varies depending on the payment method you select. While POLi Payments transactions are processed instantly, bank transfers take 1-2 business days to clear.

Are there any transfer limits?

The following transfer limits apply:

  • POLi Payments: $1,000 per day
  • Bank transfer: $10,000 per day

Is it safe to use Digital Surge?

Digital Surge says it follows the AUSTRAC requirements for a reporting entity. This means that when you register for an account, you’ll not only have to supply your email address but also verify your ID by providing:

  • Your name
  • Your address
  • Your phone number
  • One valid form of ID

The platform also includes a number of other security features to help ensure the security of your funds. These include:

  • 98% of customer funds are held offline in cold storage
  • Two-step authentication is required whenever you withdraw any fiat or digital currency from your account
  • All Digital Surge website traffic is run over encrypted SSL (HTTPS)
  • All Digital Surge employees must pass a criminal background check before they are hired

Customer support

If you’re having problems with your account or a particular transaction, Digital Surge offers an online help centre with answers to a range of frequently asked questions. If you need further assistance, you can ask a question via live chat or get in touch with the Digital Surge team via email.

Pros and cons

Pros

  • Simple and straightforward to use
  • Supports two-factor authentication
  • Transparent fee structure
  • 98% of customer funds held offline in cold storage
  • Fast sign-up and verification process

Cons

  • Only supports bitcoin
  • Unless you’re a high-volume trader, fees may be costly
  • Credit card transactions not supported

Next steps

Compare the features of Digital Surge with the services offered by other crypto exchanges. If you then decide that you’d like to trade with Digital Surge, navigate to the Digital Surge website where you can sign up for an account.

The first step is to provide your email address, but you’ll then need to complete a three-step ID verification process via Australia Post’s Digital ID service. This involves supplying your name, phone number, address and one form of ID.

The verification process can be completed within minutes, after which you can place your first trade.

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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