Digital Surge Review

In this Digital Surge Australia review, I will discuss what features the Crypto exchange offers its users. As well as looking into how it enables users to buy, sell and swap Cryptocurrencies. I will also review the Digital Surge fees and show you how to get started. I hope you enjoy this Digital Surge app review and find it helpful. 

What is Digital Surge?

In just two years, Digital Surge has quickly exploded into a major Australian crypto exchange that allows customers to buy and sell more than 300+ crypto assets. Similarly to Swyftx Digital Surge Pty Ltd is a legitimate Australian owned, Brisbane based exchange.

It offers users the ability to create a personal Digital Surge account or set up an SMSF Digital Surge account. Digital Surge’s website shows it has a 4.8 star rating from over 500 reviews and they have over 200,000 users trading crypto.

Importantly Digital Surge is regulated as a registered digital currency exchange and as such is compelled to abide by Australian Law. Therefore, Digital Surge is compelled to abide by AUSTRAC reporting guidelines. These include adhering to and reporting any Counter-Terrorism Financing (CTF) suspicions or Anti Money Laundering (AML).

There are some significant movements happening in Australia relating to cryptocurrencies and blockchain technology. As a result the regulatory environment will shift rapidly to keep up with the tech advancements. To date Crypto exchanges don’t face as much scrutiny as regulated financial products.  

As Digital Surge is an operated crypto exchange it will need to comply with any future regulation. Currently though, given Cryptocurrencies aren’t a regulated financial product Digital Surge just needs to comply with Australian law and report to AUSTRAC.

Who owns Digital Surge?

Dan Rutter and Josh Lehman are Co-Founders of Digital Surge. They were perplexed by how difficult it was to buy and sell cryptocurrencies and always incur high trading fees. So they set out on a mission to create an easy solution with low trading fees and great customer support.

Between the two of them they had over 20 years experience in the IT or tech sector and used their experience to pursue this mission. It seems like they have both succeeded in their mission of creating a crypto exchange with competitive trading fees, awesome customer support and is also simple to use. They want to continue building trust and transparency within the cryptocurrency sector.

 

How Does Digital Surge Work?

Digital Surge is an Australian crypto exchange that allows users to buy and sell over 300+ digital assets. A user is able to create an individual or SMSF account with the Digital Surge App.

It offers users the ability to hold a Digital Surge Wallet, Trade and even pay bills from within your account. You are unable to stake crypto within Digital Surge, or earn yield through lending the assets out, like you can with Celsius.

Digital Surge Australia provides easy to understand crypto investing with a simple fee structure and personalised customer support. Users have access to low fees on trading digital assets and no withdrawal fees or deposit fees (except for POLi).

Digital Surge Review – Features

Investing in Cryptocurrency carries risk, due to volatile markets and a somewhat unregulated industry currently. There are also many crypto platforms claiming to be better than bank accounts, although they carry larger risk. Always make sure you do your own research on crypto investment apps.

If you are new to Crypto and want to start off small, then a potential Crypto platform to look into is Bamboo. Bamboo is a crypto micro-investing mobile app.

However, if you are ready to start trading and take advantage of Digital Surge’s instant deposits and competitive spreads then keep reading this Digital Surge review to learn more. Digital Surge provides users the ability to buy and sell digital assets. As well as paying Australian bills directly from Digital Surge’s mobile app.

 

Buy & Sell

Digital Surge Australia has a very simple user interface which is extremely appealing to new investors. If you are new to crypto investing, then please make sure you have done plenty of your own research. Also, avoid anyone claiming they can make you rich quick, it is a scam!

Digital Surge has over 300+ cryptocurrencies you can choose from to invest in. The decision around which one to invest in will rely solely on your decision. Whatever you choose, the Digital Surge app makes it easy to buy and sell.

You can buy or sell digital assets through a few different ways with Digital Surge. Either trade instantly at whatever the market price of the asset is. Or, you can set a limit price, this means the asset will either be bought or sold when it hits the ‘limit price’. Alternatively, you can set up a recurring investment, either on a set time frequency, or price limit.

Whenever you instantly buy or sell crypto with Digital Surge, the fee will be 0.5%, which is the lowest on the market. The spread is also 0.4% which is lowest on the market too.

Pay bills with Bitcoin

A pretty cool feature that Digital Surge offers is the ability to pay your bills with crypto payments in bitcoin. You are able to pay either an Australian bill or your Credit Card from either Digital Surge’s crypto wallet or through your own external wallet.

You can either pay a BPAY bill, pay on your credit card or pay directly to a bank account. If you choose to use an external wallet you will need to transfer the bitcoin within 10minutes to keep the quoted price. This is a novel way to pay your bills in bitcoin rather than fiat currencies.

 

Personalised Customer Support

A common gripe with many crypto investors is poor customer support, or the inability to actually get in touch with anyone. Digital Surge’s support is of the highest quality and can be reached through live chat or email 24/7. Importantly you can set up a meeting with a client manager who will help you with all your questions. This is ideal if you prefer to speak face to face with someone rather than through live chat. 

Advanced Tools for experienced traders

Digital Surge is a great app for beginners and experienced crypto investors alike.Following suit from Bamboo as a dollar cost averaging platform, Digital Surge also allows their users to set recurring investments. Either through specific time intervals, or at set prices of the assets.

Some of the more advanced features it offers, really lend itself to the experienced investor. One of these features is price alerts. This is essentially a notification of when an asset you watch hits a certain price you were interested in. For example maybe you set a price alert for when Ethereum hits $4,000. 

From here you can decide how you wish to act on the price alert. Perhaps a better addition to this feature is the ability for you to get Digital Surge to automatically invest for you at set limit prices. This enables you to get on with your life, while Digital Surge is working for you in the background. 

 

Education

Given how complex the crypto industry can be, I really appreciate it when cryptocurrency exchanges do a great job with their education platform. I want to mention here that no matter how good the educational resources are, you should still do your own research or seek professional advice.

Digital Surge does a great job at providing educational content for new investors and current users. They have this content kept on their blog/education page. My favourite educational platform among the cryptocurrency industry has to be Swyftx. They do the best job of covering the basics of crypto, but also going into greater detail as required.

The educational content from Digital Surge is better than most of the other cryptocurrency exchanges I have reviewed. But it would be great to see Digital Surge increase their educational content for users. As I think this would only enhance the crypto experience. Especially as they want to get more people into crypto from the grassroots level.

Digital Surge Fees

Fees should always be one of the biggest key features to review when looking into investing platforms. Here I will review and discuss the Australian exchange Digital Surges fees. Fortunately Digital Surge has a transparent fee structure.

Digital Surge fees are set at a flat 0.5% for instant buy or sell trades. Which is the equal lowest in the Australian market. Equal to Independent Reserve and just cheaper than Swyftx at 0.6%.

The spreads are just as important as the fees, and are the difference between the current buy or sell price. Digital Surges spreads are also the lowest on the market at 0.4%. The combination of low fees and low spreads make Digital Surge the best lost cost crypto exchange in Australia.

An interesting addition to their already low trading fees, is that Digital Surge provides users a discounted trading fee based on larger trading volume.

Depending on how much trading volume you accrue you can reduce your fees to as low as 0.1%. If you start trading and have less than $100k volume your fee will be 0.5%. If you trade between $100k and $250k it reduces to 0.4%. Between $250k-$500k the fee drops to 0.3%, from $500k-$1M it drops to 0.2% and finally $1M+ it drops to 0.1%.

So while Digital Surge already has the lowest fees compared to other exchanges, they also provide an avenue to get them lower. This trading volume based fee reduction is targeted at crypto traders and I love that there are no hidden fees. There are no withdrawal fees, unless you withdraw to another wallet, in which case a standard network transaction fee will apply.

 

Digital Surge SMSF

Over the last couple of years Cryptocurrency has had a large uptick of interest from SMSF investors. These investors have been increasing their asset allocations towards the alternative asset class.

So far there haven’t been any industry Super funds that have allowed exposure to Crypto. Also given crypto isn’t a financial product, Financial Advisers aren’t legally allowed to advise on digital assets. So only investors with Self Managed Super Funds (SMSF) that wan’t to do it themselves can access digital assets.

The actual process of setting up an SMSF, especially a crypto compliant one needs to be handled by a professional. Therefore Digital Surge doesn’t provide the option to create one with their platform. However, it makes it extremely easy to invest in digital assets through their platform if you already have an SMSF. You have all the same functionality as their individual account, but with added reporting options too.

Self Managed Super Funds have some pros and cons, so make sure you do your own research before considering one. I would highly recommend you consult a financial adviser or accountant before setting one up.

There are many regulatory requirements and often high costs involved in Self Managed Super Funds. So definitely take that into consideration when thinking about using an SMSF to access Cryptocurrency.

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Tax Reporting

Capital gain events are triggered anytime you “dispose” of an asset. This means anytime you sell a digital asset with Digital Surge a capital gain event occurs. If your trading strategy includes active trading then this can get quite complex to track.

It is extremely important to have your Crypto affairs in order come tax time. As a result of the extra scrutiny being put on Crypto investors by the ATO

Digital Surge integrates with one of my favourite crypto tax reporting platforms Koinly via API. This means that with a simple subscription from Koinly, you will be able to produce Australian compliant tax reports for the end of the financial year.

The integration occurs via an API key Digital Surge generates for you. Koinly then does all the heavy lifting for you and your accountant. You can learn more about Koinly in this Koinly Review.

For a small fee you can save time and money on managing your Crypto tax affairs. If you want to manage your Crypto tax affairs correctly it could be worth checking out Koinly.

 

Digital Surge FAQ’s

Hopefully you are enjoying this Digital Surge review so far. In case you had further questions regarding Digital Surge Australia and what the platform is about I have compiled a list of FAQs below.

The Sign-up Process

It is extremely simple to sign up and get started investing in crypto currencies with the Digital Surge Australia app. Their KYC process is very smooth and you will be verified quickly. The sign up and verification process includes receiving a verification code and setting up two factor authentication. Once the verification process has been completed you will be able to deposit Australian dollars via bank transfer or PayID and get started investing almost instantly.

 

Can I trust Digital Surge?

Security is an important concern for cryptocurrencies and users want to feel secure with an exchange holding their assets. Digital Surge offers an easy-to-manage security platform for transferring and managing data. 

They periodically update their multiple layer security and keep most valuable information stored offline which protects against hackers and malware attacks. Deposits are immediately secured, and those who withdraw funds must be validated using two factor authentication. Digital Surge hasn’t been involved in a hack. Digital Surge is an Australian-registered exchange with ASIC and AUSTRAC.

Who is Digital Surge for?

Digital Surge aims to make investing in Bitcoin easy for almost everyone. They are targeting new crypto investors and experienced traders. They are able to do this with their simple app, yet advanced features too.

Is Digital Surge a wallet?

Digital Surge offers users their own free personal wallet to store crypto assets. The Digital Surge wallets are hot wallets, however they keep some crypto assets in cold wallets. This helps reduce the risk of the Australian exchange being hacked and losing the crypto assets.

Is Digital Surge legitimate?

Digital Surge is a legitimate Australian digital currencies exchange registered with ASIC and ASTRAC Regulatory Authority. Therefore they must adhere to Australian consumer laws to protect Australian users.

 

How do I trade on digital surge?

You can apply and get trading within minutes. All you need to do is open up an account, complete KYC requirements and deposit funds either via bank transfer or PayID. From there you are able to invest in over 300+ cryptocurrencies.

Is Digital Surge good?

Digital Surge is one of the best Crypto exchanges in Australia. It is an ideal solution for beginners and experienced investors and provides 24-hour support for all issues. Remember, the best platform will be one that meets your requirements best. Make sure you do your own research.

What is the best crypto exchange in Australia?

The answer to this question will depend solely on what you need out of a crypto exchange. However, my 2 top favourite Australian exchanges are Swyftx and Digital Surge.

Does digital surge have an app?

Digital Surge is now available on mobile and tablet platforms. Therefore making it easier to access your crypto portfolio whenever you want.

 

Is Digital Surge Safe?

Yes. Digital Surge offers some of the most robust and advanced security features that have been reviewed. Digital Surge uses the best in security technology to protect all of its clients and employees’ personal data. 

This includes hashing all passwords, holding some assets in cold storage and regular penetration testing by an IT security specialist. Nothing in this Digital Surge review is investment advice and you should check out the relevant product disclosure statement where applicable.

 

Is Digital Surge Worth It?

Hopefully you have found this Digital Surge Australia app review helpful and it has provided you more information regarding the platform. Given the low fees, great customer support, SMSF option and wide range of digital assets available with Digital Surge I rate it very highly. 

If you are looking for a low cost way to dip your toes into crypto investing, or take your trading to another level. Digital Surge is definitely a great option for either investor. Selecting a crypto exchange is personal and specific to your circumstances and needs. 

If you are unsure it’s always best to speak to a professional. If you require a platform that provides interest on bitcoin or Ethereum you could check out Celsius. Or if you want an alternative to trade and stake digital assets you could check out Swyftx.

Digital Surge Pros & Cons

Pros:

• Low fees & spreads
• Good educational content
• Great customer support, including live chat
• Pay bills in bitcoin
• Volume based fee reduction

Cons:

• No staking functionality to earn yield
• No Lending functionality to earn yield
• There is no demo account

Digital Surge Alternatives

The Digital Surge Australia app offers its users premium customer support and low fees on trading crypto assets. It does however, have a couple of Australian based competitors. Some of these platforms to check out are Swyftx and Coinspot. 

Swyftx is one of the best Australian based crypto trading platforms. It provides users with the ability to earn daily rewards on their crypto through staking. Additionally users can trade over 280+ supported cryptocurrencies.

You can check out my Swyftx review here if you want to see why it is a great platform to trade and stake cryptocurrency. 

Another alternative to Digital Surge Australia, is a platform called Coinspot.  Coinspot is another Australian based cryptocurrency exchange. Coinspot also has a large amount of digital assets available. Although its mobile app user interface isn’t as slick as Swyftx or Digital Surges.

Check out my Coinspot Review if you want to see why it could be a good alternative to Digital Surge.

 

Digital Surge Conclusion

As I have mentioned previously, Digital Surge is a great cryptocurrency platform given its low fees, great customer support and ease of use. Not to mention the ability to pay bills in bitcoin and sign up with an SMSF. It supports advanced traders and beginners alike.

Hopefully this Digital Surge review has highlighted the pros and cons of the platform. My experience has been very good with Digital Surge. I would love to see their educational content continue to grow. Additionally, for Digital Surge to become the best all round platform, they would need to add either staking or lending. In order for users to be able to earn passive income.

Until this happens, I rate the Digital Surge app as the best low cost crypto platform and still think Swyftx is the best overall crypto platform. Although it is extremely close between these two and I feel either will be excellent options.

Sign Up Bonus

If you enjoyed this Digital Surge review and have made up your mind that you are ready to invest with Digital Surge. Then you can sign up here and receive $10 of BTC as a sign up bonus!