Buying Bitcoin or Ethereum can be a challenging prospect for beginners that are looking to make their first investment. There are several global cryptocurrency exchanges that accept fiat deposits in exchange for cryptocurrency. But these exchanges do not always offer the best features, deposit methods or fees for local investors.
In this Easy Crypto review, we will assess the platform features, ease-of-use, trading fees and security of the digital currency exchange. Easy Crypto is helping to support the growth of the global cryptocurrency industry by allowing users to purchase crypto in Australia, New Zealand and South Africa.
What Is Easy Crypto?
Easy Crypto is a licensed and regulated Australian-based cryptocurrency exchange that aims to bring a simple and beginner-friendly online platform to make it easier for everyday Australians to purchase and invest in digital currencies. The exchange provides a variety of common deposit methods to buy 44 cryptocurrencies using AUD, including Bitcoin.
Easy Crypto Compared
Low fees are a common factor for investors looking for an exchange to buy Bitcoin using AUD or NZD. This comparison table lists other popular cryptocurrency exchanges that offer low trading fees.
0.6% (low spreads)
5 / 5
0.5% - 0.05%
4.5 / 5
0.1% - 1%
4.3 / 5
0.1% - 1%
4.3 / 5
3.9 / 5
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History Of Easy Crypto
Easy Crypto was founded in New Zealand to be an easy place to buy cryptocurrency based on first hand experience and frustrations using other services. The team vowed to create the simplest digital currency provider. After the success of Easy Crypto New Zealand, the founders launched Easy Crypto Australia to provide a similar service to the Australian market.
Is Easy Crypto Safe?
Easy Crypto appears to be a safe exchange in Australia to purchase cryptocurrency. The platform has taken several precautions to ensure the safety of client funds such as:
- Regulation. Easy Crypto exchange is registered with AUSTRAC and complies with AML/KYC requirements.
- Verification process. Adheres to KYC processes per regulations for fiat currency deposits, withdrawals and trading.
- Hardware Wallet. Easy Crypto provides the ability to deposit digital currency directly to the user's cold-storage hardware wallet linked to the account. This means that no client funds will be stored on the exchange which can be vulnerable to hacking and theft.
- Security features. Easy Crypto includes 2 factor authentication in addition to a verified email address linked to the account. This adds an additional layer of security to the account that makes it very difficult for cyber criminals to compromise client accounts and withdraw funds. They would have to know your login information and be in possession of your mobile phone (and able to unlock it)
- Theft & hacking. There are no known instances of Easy Crypto being hacked.
How To Buy Crypto With Easy Crypto
The process to sign up with Easy Crypto is incredibly simple. All you need to do is visit the website, click on 'Create An Account' then select one of the options to get started:
- Sign in with Google
- Sign in with Facebook
- Sign in with Email
If you do not have access to these platforms, there is still the option to manually register using an online form.
As Easy Crypto is a regulated exchange, you will need to submit verification documentation to comply with KYC protocol before you can make an AUD deposit.
All you should require is your Australian Driver’s License or passport details. To verify, navigate to the top menu and go to 'My Account' and then select 'Verification'.
Once you have verified your account, you will be able to fund your account with Australian Dollars.
POLi is an instant deposit method that is available on several cryptocurrency exchanges in Australia to purchase Ethereum. The deposit method allows you to complete the transaction from the exchange through an interface to your supported bank account.
It works in the same way that you would normally visit your online bank website to make a payment. POLi payments are incredibly simple and only takes a few minutes to complete and the funds are transferred direct to the exchange.
The following Australian cryptocurrency support POLi payments to purchase Ethereum:
Once your funds have been deposited into the account, you can start trading with Easy Crypto. To purchase crypto:
- Select the coin you wish to purchase
- Enter in the amount of AUD to spend
- Review the order and click on 'Buy Now'
Easy Crypto Verification
Easy Crypto uses a tiered verification process to comply with the law and protect its customers by preventing fraud. It is also required to be fully compliant with KYC and AML regulations for the trading of digital assets.
Basic verification will require a valid photo identification document such as a Drivers Licence or Passport. You will also be required to upload a selfie to ensure you are the actual person verifying the account. Basic verification increases the daily limit to $10,000 up to a total account maximum of $25,000.
To increase the account limit to $100,000, you will need to complete the enhanced verification process and can find out more by clicking here.
Easy Crypto Trading Assets
Easy Crypto Australia supports the major cryptocurrencies and several altcoins. In total, 44 cryptocurrency assets can be purchased using AUD on the exchange. A full list of the digital assets available on Easy Crypto can be viewed on the website by clicking on 'Rates'.
Easy Crypto supports bank transfer and POLi deposits in Australian Dollars. The speed of the deposit method will depend on the crypto coin and selected bank. Bank transfers can take between 1 - 3 business days. Once the deposit has reached Easy Crypto, the order will be delivered in about 5 minutes according to the website.
Easy Crypto only supports fiat deposits in Australian Dollars (AUD). According to the website, the exchange is looking to allow cryptocurrency deposits in the near future that will users to swaps between digital assets. If you want to trade between cryptocurrencies, you will need to find a reputable crypto trading exchange.
Easy Crypto Fees
Exchange fees are an important consideration when selecting a fiat-to-crypto exchange. It becomes even more critical when purchasing larger amounts. Easy Crypto are transparent with their fees which are listed on the website.
Easy Crypto charges a flat trading fee of 1% for all buy and sell orders.
Easy Crypto does not charge a deposit fee.
Easy Crypto does not charge a deposit fee.
Easy Crypto Security
The exchange does not store any of its user's funds or private keys. Everything remains in the user's full control at all times. This eliminates the risk of theft and hackers.
Easy Crypto provides the ability to deliver cryptocurrency direct to an existing wallet, another exchange account, or to a hardware device. Easy Crypto has even guaranteed 100% security of client's funds once the AUD deposit has reached the exchange according to the website.
Easy Crypto Alternatives
Bank Transfer (EFT)
0.05% - 0.5%
Bank Transfer (EFT)
Credit card / Debit card
Frequently Asked Questions
No, Easy Crypto does not currently have a mobile phone app. The website is mobile friendly.
Easy Crypto is a registered reporting 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 financial activity, and report to AUSTRAC transactions or activity that is suspicious or involves large amounts of cash over $10,000.
Conclusion: Is Easy Crypto Legit Or Scam?
To conclude our Easy Crypto review, we can say that the exchange appears to be a reputable service that originated in New Zealand and has expanded its offering to cater for the Australian market. In comparison to other cryptocurrency exchanges in Australia the trading fees are high, however the fees are fairly competitive in New Zealand.
Overall, Easy Crypto is a straight forward and simple exchange that supports multiple fiat currencies to help everyday Australians and New Zealander's to get started in digital currencies.
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.
- Registered crypto exchange
- Offers 40+ cryptocurrencies
- Purchase crypto directly to wallet
- Never been hacked
- Responsive customer support
- Trading fees a little high
- Delays in processing crypto during high volume period