Digital Surge Review – Trading Bitcoin & Fees (2020)

Digital Surge is an Australian Bitcoin exchange that provides direct access to buy and sell BTC to AUD. In this review, we will cover provide an overview of our experience using Digital Surge and assess the important aspects of a crypto exchange such as deposit methods, trading fees, security and customer support.  

While we aim to provide you with the most accurate information in this review on Digital Surge, we suggest that you visit their website from time to time to keep updated with any changes that may occur afterward. 

P.S. Read our post 10 Best Cryptocurrency Exchanges In Australia to see if Digital Surge made the list. 

digital surge login

What Is Digital Surge?

Digital Surge is a digital asset exchange that helps Australians invest in cryptocurrency. Based in Brisbane, the team are committed to building trust and transparency within the cryptocurrency community and take part in a number of community events to help to bring awareness to the industry for all investors alike. 

Digital Surge Compared

Bank transfer is one the most popular methods to deposit AUD on Zipmex. This comparison table lists other popular Australian cryptocurrency exchanges that accepts bank transfers to buy Bitcoin. 

Exchange

Fees

Rating

Website

swyftx

0.6% (low spreads)

5 / 5

independent reserve

0.5% - 0.05%

4.5 / 5

coinjar exchange

1%

4.3 / 5

coinspot

0.1% - 1%

4.3 / 5

digitalsurge

0.1% - 0.75%

3.6 / 5

You might also be interested in these guides:

Digital Surge Benefits

Digital SurgeThe exchange provides a means to buy and sell Bitcoin, or even pay bills using BTC. The exchange is focused on simplicity which starts from the verification process which is automated. That means, you can start purchasing Bitcoin in a matter of minutes using a buy wizard that guides through each step.

Digital Surge exchange brings ease-of-use to the Australian cryptocurrency market by offering a premium user experience in a simple and intuitive platform without the complexity or hassle.  

digital surge cryptocurrency exchange

What Trading Assets Are Available?

Digital Surge exchange allows its users to buy and sell Bitcoin with AUD. If you're looking to purchase other digital coins, you will need to use another cryptocurrency exchange. This is the only downside to Digital Surge and will need to sign up with at least one other Australian cryptocurrency exchange to include altcoins in your portfolio.

Deposit Methods & Limits

Digital Surge Australia offers a few different deposit methods that most Australian's should have access to. There is a minimum deposit method of $20 to get started. The Australian Dollar is the only fiat currency allowed to trade against Bitcoin.

Method

Deposit Fee

Daily Limit

PayID (instant)

None

$10,000

OSKO (BPAY)

None

Depends on bank

POLi (instant)

$2.00

$1,000

Most Australian's will be quite familiar with using PayID, POLi and BPAY. These are very common payment methods which can be transacted using an online bank account in the same manner you would pay a bill online.

There is currently no option to buy Bitcoin using credit card, cash deposit or with PayPal using Digital Surge.

Related: 7 Ways To Buy Bitcoin With Cash In Australia (2020)

bitcoin bank transfer

It is important to note the time for AUD deposits to reach Digital Surge are dependent on which bank you are transferring money from and at what time you made the transfer. Banks don't process payments on the weekend or public holidays and have daily cut off times.

Digital Surge Fees

Digital Surge fees start at 0.75% and reduce based on your rolling 30 day trade volume. The trading volume is calculated every 4 hours. The trading fee is reasonable as compared to some cryptocurrency exchanges in Australia.

Trading Fee

Volume (30 day)

0.75%

< $10,000

0.70%

< $40,000

0.60%

< $70,000

0.50%

< $100,000

0.40%

< $200,000

0.30%

< $400,000

0.20%

< $800,000

0.15%

< $400,000

Digital Surge Verification

Digital Surge uses a level-based system for its verification process which is automated. Level 1 verification is incredibly simple and can be completed in 5 minutes. You will not have to provide any selfies, complete long questionnaires or scan any utility bills. All you need is a valid form of ID such as a drivers licence or passport.

Once you have submitted your information and agreed to the terms and conditions, the verification process is automated and will only take a few minutes. According to the website, Digital Surge are exploring other deposit methods such as credit card / debit card as well as the use of the real time payment network.

This will potentially allow for faster deposits without the need for additional verification checks.

Digital Surge User Dashboard 

The user dashboard is minimal, clean and easy to navigate. There are links to 'Buy''Pay' and 'Transfer' on the left (and top) which are the main functions. A live account balance in AUD and BTC is shown in the middle. 

Read: 4 Best Crypto Charting Sites For Altcoin Traders (In 2020) 

There is also a BTC live price chart on the right to see the current Bitcoin price in AUD. However, it lacks the ability to perform technical analysis. If you want to view detailed Bitcoin charts before investing, then read our article below.

digital surge dashboard

The interface is incredible simplistic and all you need to get started with investing in Bitcoin. For affiliates that wish to promote the service and earn 50% commission on referred users trading fee's, a unique link is shown at the bottom.

How To Buy Bitcoin With Digital Surge

To get started with Digital Surge cryptocurrency exchange, click on the 'Buy' button on the dashboard once you log in. This will bring up a live Bitcoin price chart and fields to enter in 'How much would you like to invest?' 

Enter in the desired amount and select the payment method. What we like about Digital Surge is the transparency. The trading fee's are clearly shown once the deposit method has been selected. The calculated BTC amount will be shown minus the trading fee's.

Click on 'Buy' and that's it! 

digital surge buy bitcoin

We did notice on the 'Buy' page a simple line chart with the live price of BTC in AUD is shown. It is not really suitable for advanced traders that may wish to use technical analysis on a BTC live chart or use advanced orders to manage risk. This is certainly an improvement for Digital Surge to consider so it can cater to the more sophisticated investors. If you're a trader, then we suggest looking for a cryptocurrency trading exchange

How To Sell Bitcoin With Digital Surge

To sell Bitcoin to AUD, the process is just as easy. To get started, navigate to the 'Trade' option on the Dashboard. This will bring up the trade window which will display your account funds in BTC.


Enter in the 'Amount To Sell' in Bitcoin on the right and it will calculate the total AUD based on the current Bitcoin price. Once you are happy with the sell price, click on 'Sell BTC' and AUD will be deposited into your funds.  

sell btc to aud

To withdraw AUD from your Digital Surge exchange account, navigate to 'Transfer' at the top of the page. You will be able to withdraw AUD directly into a selected Australian bank account. Once you have filled in the bank details, enter in the amount to withdraw and that's it!

digital surge sell bitcoin

How To Pay Bills With Bitcoin?

A great feature of Digital Surge is the ability to pay any Australian bill or credit card with Bitcoin. You will need the BPAY details and you're ready to go. The process is guided through a wizard which gives the option to:

  • Pay BPAY bill
  • Pay to Credit Card
  • Pay to Bank Account
pay bill bitcoin bpay

Once you have selected which option you would like to pay to, simply enter your BPAY details. You will be prompted to choose where the BTC funds will be taken from which can be from the online Digital Surge wallet or even an offline cryptocurrency hardware wallet.  Once the Bitcoin has been received your bill will be paid. It's that simple !

pay bill bitcoin

Does Digital Surge Have A Mobile Phone App?

Currently there is no Digital Surge App. The website is mobile friendly and works just fine on a mobile device. This is one area of development the founders of Digital Surge could consider in future.

Is Digital Surge Regulated?

Digital Surge is a registered exchange with AUSTRAC that enforce financial laws to minimize the risk of criminals using cryptocurrency exchanges for money laundering, terrorism financing and cyber crimes.

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires regulated entities to collect information to establish a customer’s identity, monitor transactions and report to AUSTRAC transactions or activity that is suspicious or involves large amounts of cash over $10,000.

Is Digital Surge Safe?

To date, we have not found any reports of any serious breaches in security, fraud or major hacks on Digital Surge. According to the website, the exchange provides the following security features to keep client funds safe. Not all exchanges provide detail on their security, so we have to say the transparency provided is a major plus.

  • 98% of customer funds are stored offline in cold storage
  • 2-Step verification is required for any fiat or digital currency withdrawal
  • Website traffic runs entirely over encrypted SSL (HTTPS)
  • All Digital Surge employees must pass a criminal background check as part of the hiring process
  • Management of access privileges, to ensure that only those who really need it can see your personal information

Customer Support & Reviews

The customer support team at Digital Surge can be contacted through a live chat app or via email. We were quite impressed with the response time of the live chat app and received a response back in less than 2 minutes. The feedback on the customer support service is positive on a number of review sites. Searching for 'Digital Surge Review' in Google brings up a number of comments on popular feedback sites such as TrustPilot and Reviews.io

digital surge review

There are currently 15 customer reviews for Digital Surge Australia with an overall rating of 4.5 out of 5. The comments are all positive with a common theme of 'easy to use' and 'great service'.

In addition, there is an interactive Bitcoin wizard to help you get started to make your first Bitcoin purchase. There is also a very detailed FAQ section that answers the most commonly asked questions related to Digital Surge. 

digital surge reviews

Digital Surge vs. Swyftx

In terms of ease of use and simplicity, Digital Surge takes home the chocolates, marginally. Although, that's not to say Swyftx is complicated to use at all. Both exchanges are focused on Bitcoin beginners in Australia and provide an easy to use platform to buy, sell and trade Bitcoin. If you want to trade in altcoins other the Bitcoin, Digital Surge is not suitable as you would need to sign up for another exchange. So if you want too invest or trade a variety of digital coins, Swyftx exchange is the preferred option.  

Swyftx has a flat 0.6% trading fee and low spreads which is competitive in the Australian cryptocurrency market. In comparison, Digital Surge offers a tiered fee structure that depends on the volume traded. For high net worth traders or SMSF investors, Digital Surge can offer trading fees as low as 0.10% which is very low.  

The Digital Surge trading interface is extremely basic. It does not provide advanced trading tools or chart indicators to apply technical analysis to refine the best entry and manage risk. For cryptocurrency traders, this might be a sticking point on Digital Surge.

Digital Surge vs. CoinSpot

CoinSpot exchange is one of the earliest adopters founded in 2013 and have built up a solid reputation and trustworthy image for an Australian crypto exchange. In comparison, Digital Surge is a relatively new exchange. While there have been no security breaches, it does not have the same authority as Coinspot.

One of the biggest differences between Digital Surge and Coinspot is the trading assets. CoinSpot  supports a massive list of cryptocurrency assets, in fact over 200. If you want to diversify your cryptocurrency portfolio, CoinSpot is a suitable exchange if you're willing to sacrifice on slightly higher trading fee's.

Digital Surge Alternatives

The following alternatives to Digital Surge are reputable, safe and trustworthy cryptocurrency exchanges to purchase Bitcoin in Australia - and other major altcoins such as Ethereum, XRP and Litecoin.

Exchange

Deposit Method

Fees

Our Review

Website

swyftx

Swyftx

PayID

POLi

BPAY

0.6%

independent reserve

Independent Reserve

Bank Transfer (EFT)

PayID

POLi

Swift

0.05% - 0.5%

coinspot

Coinspot

PayID

POLi

BPAY

Cash Deposit

1%

coinjar exchange

Coinjar

PayID

BPAY

Cash Deposit

1%

binance

Binance

Bank Transfer (EFT)

Credit card / Debit card

2.5%

Conclusion

To conclude our Digital Surge review, we can say the exchange is by far one of the easiest places to buy Bitcoin in Australia with bank transfer. The process to register is straight forward without any hassles.

From start to finish, you can convert AUD into BTC in under 10 minutes for first time users. The interface is so simplistic that it takes away the complication and stress compared to using other exchanges.

If you are looking for a great Bitcoin service with competitive trading fees, ease-of-use and responsive customer service, look no further than Digital Surge.

Exchange fees are a very important consideration for any prospective cryptocurrency investor. The following exchanges - in addition to the above exchange - provide very competitive trading, deposit and withdrawal fees (with no hidden charges) with a wide variety of deposit methods that will suit all types of investors in Australia. 

  1. Swyftx
  2. Independent Reserve
  3. Zebpay
  4. ZipMEX
  5. BTC Markets
  6. Mine Digital
  7. Easy Crypto
  8. Binance Lite
  9. Cointree
  10. BTC Australia

Digital Surge

3.65

Ease of use

4.0/5

Reputation

3.0/5

Deposit methods

3.8/5

Fees

3.8/5

Customer support

3.8/5

Pros

  • Bitcoin only exchange
  • Simple and easy to use interface
  • Send BTC direct to a hardware wallet
  • Competitive fees
  • Responsive customer support

Cons

  • No mobile app
  • Limited charting features
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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.

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