Digital Surge review
- Regulator registration
- AUSTRAC
- Supported assets
- 363
- Fiat currencies
- 1
Our verdict
Digital Surge offers a simple way to trade cryptocurrency with affordable fees and quality features.
The ability to trade a large range of coins (360+) and set up an SMSF makes Digital Surge a solid choice for both beginners and experienced crypto investors.
The exchange offers a simplified interface that still provides access to useful trading features like limit orders, recurring buys and instant crypto swaps.
The fee structure is very transparent, as the platform is one of the few to openly show spreads on buy/sell markets. Fees for instant purchases and recurring buys are only 0.5%, which are among the lowest in Australia.
New users should be aware that in 2022 Digital Surge went into voluntary administration following the collapse of the cryptocurrency exchange, FTX. In 2023 creditors voted to reopen the exchange and continue operations.
Pros
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Cheap instant purchases. Digital Surge charges trading fees of 0.5% which includes buy, sell and swap fees as well as instant purchases and recurring buys, which makes it one of the cheapest options in Australia for these purchase methods.
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Complies with the Australian Transaction Reports and Analysis Centre regulations in Australia. AUSTRAC is the peak body for regulating cryptocurrency exchanges in Australia which requires Digital Surge to comply with laws and regulations that are intended to provide certain protections for users.
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Over 360 cryptocurrencies supported. Digital Surge supports 360+ assets, which should give you a good range of industries and asset types to invest in without needing to hop between multiple exchanges.
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Trade with multiple fiat currencies. Digital Surge allows you to trade with 1 currencies including AUD.
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Deposit and withdraw AUD directly to your bank account in Australia. With Digital Surge you can deposit cash from your Australian bank account and cash out back into the same account.
Cons
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2022 voluntary administration. In 2022 Digital Surge filed for voluntary administration following the collapse of FTX. A portion of Digital Surge user assets were held on FTX. In 2023 creditors voted to reopen the exchange and users were reimbursed 55 cents on the dollar.
Details
Product details
| Product Name | Digital Surge Cryptocurrency Exchange |
| Fiat Currencies | AUD |
| Cryptocurrencies | BTC, ETH, BNB, XRP, ADA, DOT, LTC, SOL, TRX, UNI & 353 more |
| Deposit Methods |
Bank transfer Cryptocurrency Osko PayID |
| Trading Fee | 0.50% |
| Deposit Fees |
Bank transfer and PayID: Free Cryptocurrency: Free |
| Withdrawal Fees |
AUD: $0 (Network fees apply) Cryptocurrency: Fees vary |
Ratings breakdown: How we scored Digital Surge
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology for more information.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
About Digital Surge
Digital Surge was founded in 2017 by Brisbane-based IT experts Josh Lehman and Dan Rutter.
At Digital Surge, we're passionate about making cryptocurrency trading easy and accessible for everyone. We believe that the key to success in this fast-paced market is to offer competitive fees and a superior customer experience. That's why we've developed a cutting-edge order routing system that connects to multiple markets and analyses millions of paths on the fly to find the best value for our customers.
Our team of experienced traders and developers has worked tirelessly to build a platform that is not only fast and reliable but also user-friendly and secure. Whether you're a seasoned trader or just getting started, you'll find everything you need to buy, sell, and store cryptocurrencies on our platform.
Dan Rutter, CEO.
Digital Surge supported assets
Digital Surge supports over 362 cryptocurrencies. In total, Digital Surge carries 18 of the top 20 cryptos by market cap.
Popular assets on Digital SurgeDigital Surge fees review
Digital Surge Cryptocurrency and bank transfer and PayID deposits are free for folks in Australia.
Deposit and withdrawal fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Bank transfer and PayID: Free Cryptocurrency: Free |
| Withdraw funds | AUD: $0 (Network fees apply) Cryptocurrency: Fees vary |
Digital Surge uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.
| Type | Fee |
|---|---|
| Maker | 0.5% |
| Taker | 0.5% |
Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.
Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.
Digital Surge deposit methods
- Bank transfer
- Cryptocurrency
- Osko
- PayID
How to sign up on Digital Surge
Before you can get started trading on Digital Surge, you'll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).
- Get started
Visit Digital Surge's site. After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Digital Surge account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Digital Surge.
About the Digital Surge app
Digital Surge has a mobile application available for both iOS and Android.
The app looks very similar to the desktop exchange and the menus are laid out nearly identically. So you should have a seamless experience switching between the two, with all of the same features. 
| App store | Rating | Total reviews |
|---|---|---|
| Google Play | 3.3 stars | 256 reviews with 10k downloads |
| Apple Store | 4.2 stars | 380 reviews |
Is Digital Surge safe?
2022 Voluntary Administration. New users should be aware that in 2022 Digital Surge went into voluntary administration following the collapse of the cryptocurrency exchange, FTX.
Digital Surge had a portion of user assets held on FTX and was unable to reimburse users in full. In 2023 creditors of the exchange – which included users – voted to reopen the business alongside a plan to reimburse users.
Users with account balances of under $250 were repaid in full, while those with over that amount received 55 cents on the dollar. The plan states that remaining debts will be paid over the course of 5-years with profits from the exchange.
Co-founders Josh Lehman and Dan Rutter donated $1 million to the recovery fund.
Security audits. As an Australian financial instutition, Digital Surge must comply with anti-money laundering (AML) and counter-terrorism financing regulations from government body AUSTRAC. It is also registered with the Australian Securities and Investment Commission (ASIC). That said, there is no mention of specific auditing bodies that have interacted with the exchange.
Past hacks. Digital Surge has been operating for 5 years without any reported hacks or security breaches. Make sure to use 2-factor authentication (2FA) to maximise the security of your account.
Security. Digital Surge, like most exchanges, places an emphasis on customer security. It utilises a number of standard measures, including password encryption, cold storage (offline wallets) and 2-factor authentication.
Keeping your crypto secure
All centralised exchanges, including Digital Surge, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
Digital Surge customer support
Digital Surge has excellent customer support. The exchange has a live chat system where the customer service team are insightful and quick to respond.
When we ran a test, it took the team less than 1 minute to reply to our query. However, timing will naturally depend on website congestion.
How to reach Digital Surge customer support
- Help center articles
- Live chat
Alternatives to Digital Surge
James Finder
Editor
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