🆕 Digital Surge Review

Digital Surge can seem quite attractive on the surface with its modern and clean design. But would it meet the needs of Aussie crypto investors and traders? We take a look under the hood to see if it has kept up with its competitors. 

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Quick Verdict

Digital Surge is a no-fuss crypto brokerage that is accessible to nearly everyone, provides good value with its trading fees, and offers a diverse range of cryptocurrencies. But apart from that, it does little to entice new customers and it hasn’t changed much since its inception in 2019. It also lacks features and only provides the bare minimum. 

Add in the corporate turmoil of late 2022 and early 2023, it didn’t make our list of the best crypto platforms in Australia. People seem to be using a platforms like Swyftx and CoinSpot instead based on the reported number of users.

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Pros

• A maximum trading fee of 0.5%.
• 380+ digital assets to trade with AUD.
• Free deposit methods.
• TradingView charting.

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Cons

• General lack of features.
• Company image is tarnished.

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What We Thought Of Digital Surge’s Features

It’s straightforward

Digital Surge offers a straightforward and easy-to-use interface for purchasing and selling cryptocurrency. The platform has been carefully designed to provide a smooth user experience, making it accessible even to those who are new to the world of crypto. 

Although navigation is straightforward and the learning curve might be low, other traders may find the site and its charting options to be too basic.

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All the major crypto assets

Digital Surge offers over 380 cryptocurrencies which puts it in the upper echelon of brokerage platforms. The selection includes popular options like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Solana (SOL), as well as lesser-known ones like Civic (CVC). Additionally, it supports meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB).

By offering this wide array of digital assets, the platform allows users to invest in various coins, which helps in diversifying their portfolio. Binance Australia (414) and CoinSpot (480+), on the other hand, support more cryptocurrencies than Digital Surge.

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Recurring purchases

For those who want to automate the development of their cryptocurrency portfolio, Digital Surge’s recurring buy features will help. 

Akin to the recurring buy features of other platforms and exchanges, users need to find the crypto they want from the drop-down menu, enter the amount of AUD to spend, and then set the frequency. Frequencies range from hourly to monthly. 

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Trigger orders

Similar to its recurring purchases, Digital Surge also allows users to create trigger orders. 

Rather than buying crypto at the current market price, they can set a desired price. If the market price hits their desired price then the nominated volume of the crypto will be automatically purchased and transferred to their wallet. 

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Crypto tax reporting tools are useful

Digital Surge, like many other Australian cryptocurrency platforms, has partnered with popular crypto tax tools to simplify End-of-Financial Year (EOFY) reporting tasks. These tools include CryptoTaxCalculator, Accointing, and Koinly.

To link a Digital Surge account with any of these service providers, users will need to either:

1. Download a .csv file of their Digital Surge transactions for the financial period and upload them into the tools.

2. Use an API connection.

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Wallet Funding

AUD funds can be deposited into a Digital Surge wallet through PayID and transfers from an Australian bank account. PayID is near-instant, and a minimum deposit of $20 is required. However, bank transfers might take up to two days to process.

Alternative payment methods like POLi and direct purchases using a credit or debit card are unavailable. 

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Digital Surge Fees

No deposit & withdrawal fees

Deposit fees for funding your Digital Surge account are zero, regardless of whether cash is transferred using PayID or bank transfers. This is consistent with other Australian crypto brokerages, except CoinSpot, which charges minor fees depending on the deposit method. 

Transferring cash from the account to a nominated Australian bank account can be completed without any charges. While Digital Surge doesn't impose withdrawal fees, a standard network transaction fee is applied when the user sends funds to an external wallet. The specific fee depends on the type of coin and the current network activity level.

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Crypto trading fees

Digital Surge offers trading fees for buying and selling crypto that are on par with other brokerages in the Australian market. The 0.5% fee users will pay for buying and selling 

(including trigger orders and recurring buys) will be the maximum costs incurred. 

Although Digital Surge claims to be transparent about its tiered fee structure, it doesn’t list the reduced fees that can be obtained depending on the user's trading volume. They historically presented the fee tiers, but not any more.

Nevertheless, its 0.5% fee is the same as Independent Reserve (0.5%), and slightly cheaper than Swyftx (0.6%) and Coinstash (0.85%).

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The Digital Surge Trading Experience

The Digital Surge experience focuses on simplicity with minimal distractions. The dashboard is user-friendly and provides a basic overview of the users' investment portfolio and how different assets are performing. It also offers a watchlist feature to track preferred digital assets and identify top performers.

The trading interface is accessible after the user clicks on their preferred coin. There are two charting options: a simple line graph or TradingView. The TradingView charting window is quite small but there is the ability to enlarge to maximise practicality. Here, trigger or instant orders can be created once the user has completed their analysis of the price action. 

However, the buying process is the same as the instant buy/sell feature, except with the addition of charting. There is a lack of other tools on which to use and some traders will find the interface a bit basic. 

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Final Verdict

Digital Surge is a relatively new cryptocurrency brokerage platform but it has had its issues in the past. The company nearly went into liquidation in early 2023 and there have been minimal improvements to its products and services since. 

Even though the platform can be used by almost anyone, its trading fees offer value for money, and there is a viable selection of crypto to trade. Ultimately, we liked the Digital Surge platform but appears to have been left behind in the Australian crypto community.

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We aim to publish factual and accurate information as of the date of publication. For specific information about a cryptocurrency exchange or trading platform, please visit that provider’s website. This information is general in nature and is for educational purposes only. We do not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.