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.
A top crypto exchange in New Zealand, Australia and South Africa that has surged in popularity is Easy Crypto. In this review, we will assess the platform features, payment methods, ease of use, trading fees and security. Our methodology includes creating an account, depositing fiat and purchasing crypto direct to a hardware wallet to experience the full features of the trading platform.
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Easy Crypto is a digital currency exchange that was founded in New Zealand. The platform aims to provide an easy place to buy cryptocurrency based on the owner's own 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 and South Africa to provide a similar service to the Australian market.
Easy Crypto aims to bring a simple and beginner-friendly online platform to make it easier to buy Bitcoin and invest in digital currencies. The exchange provides a variety of common deposit methods to buy 44 cryptocurrencies using AUD, NZD and ZAR. The platform is registered with AUSTRAC that enforce financial laws to provide a safe and secure exchange to buy crypto with a 100% fund safety guarantee. Purchased assets are sent directly to a wallet for optimal security and peace of mind which makes Easy Crypto a great option to consider.
Other notable features include:
- Safe and secure crypto exchange to buy/sell digital currencies
- Deposit funds using POLi and bank transfer
- 1% flat trading fee
- No deposit or withdrawal fees
- Purchased crypto can be sent directly to a hardware wallet
- 4.7 star rating based on 526 reviews
- 10% affiliate program
|Exchange Name||Easy Crypto|
|Fiat Currency||AUD, NZD & ZAR|
|Payment Type||POLI & Bank transfer|
The main benefit of using Easy Crypto is the non-custodial nature of the platform which offers top security. Furthermore, the exchange is built for beginners with a simple and elegant design to deposit funds, purchase crypto and send it directly to a hardware wallet. However, the trading fee of 1% per transaction is high in the industry compared to other exchanges and the selection of coins is quite limited.
Suited For Beginners
The buying and selling process on Easy Crypto has been designed to suit beginners with a streamlined, modern and easy to use platform. The investor simply choose the coin to buy, enters an amount, selects a payment method and the digital assets are sent directly to a nominated wallet address. The overall purchasing process can be completed in a few minutes. This is a significant advantage to other platforms which can be complicated for new investors.
100% Fund Safety Guarantee
Easy Crypto is one of the only crypto exchanges that offers a 100% guarantee on all transactions once the payment is received. In the unlikely event the funds are lost during the transaction process, Easy Crypto will honour the amount and complete the trade to the nominated wallet address. Investors can have full confidence with using Easy Crypto knowing there is zero-risk of losing their funds. However, investors should be aware the guarantee does not lock in the prices which can vary before the payment is received.
Visual Portfolio Tracker
Investors that buy and sell crypto can monitor their overall portfolio and net-worth in relation the amount of fiat deposited. Easy Crypto's portfolio tracker automatically keeps track of all buy and sell transactions. The market value, total return and change over 24 hours or weekly of the portfolio is displayed in a line chart to monitor the investment performance over time. There is also a portfolio wheel that shows the allocation of each coin within a portfolio.
Dollar Cost Averaging
Investors can set up Auto-Buys using Easy Crypto to deposit funds on a daily, weekly or monthly frequency. The benefit of recurring orders is that is removes the stress associated with 'price' and swings in volatility. Customers can set up automatic payments and transfer funds to the exchange using PayID or a bank transfer. Easy Crypto will automatically purchase the selected coins and deliver them straight to the nominated wallet address. It is a safe and easy way to start a crypto portfolio using dollar cost averaging.
Low fees are a common factor for investors looking for an exchange to buy Bitcoin using AUD, NZD or ZAR. This comparison table lists other cryptocurrency exchanges like Easy Crypto which offers low trading fees.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|$20 Bitcoin for creating a verified account||Visit Swyftx||Swyftx Review|
|None available at this time||Visit CoinSpot||CoinSpot Review|
|$10 Bitcoin for creating a verified account||Visit Digital Surge||Digital Surge Review|
|325||0.02% / 0.07%|
|5% off trading fees||Visit FTX Australia||FTX Australia Review|
|$10 bonus after first purchase||Visit Easy Crypto||Easy Crypto Review|
Easy Crypto is a very safe exchange that does not store customer funds or private keys for purchased cryptocurrencies. The broker complies with AML/KC requirements, offers a 100% fund safety guarantee and includes 2FA to secure user accounts. These measures provide investors with peace of mind and confidence their money is safe and greatly reduce the risk of hacking attempts. According to our research, there have been no security breaches or hacking attempts on Easy Crypto.
Easy Crypto is available in Australia and New Zealand however the websites are separately run entities. The Easy Crypto New Zealand site is for residents in New Zealand that want to invest in crypto. The platform was first launched across the Tasman Sea and is regarded as one of the best local exchanges in New Zealand. Easy Crypto has recently expanded and launched a crypto exchange in South Africa.
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.
Easy Crypto only supports fiat deposits in Australian Dollars (AUD), New Zealand Dollars (NZD) and South African Rand (ZAR). For investors in Australia and New Zealand, the supported payment methods include bank transfers, PayID, POLi and Account2Account.
The speed of each deposit method will depend on the selected bank. Account2Account and POLi Payments are near-instant payment methods and does not have any fees. On the other hand, POLi Pay has a 1% deposit fee which is very expensive and does not include any trading fees.
Using a bank transfer has zero fees but can take between 1-3 business days for the funds to arrive. For high-net worth investors, the limits are generally higher using a bank transfer compared to the other payment methods. Once the deposit has reached Easy Crypto, the order will be fulfilled and delivered to the nominated wallet address in approximately 5 minutes.
Easy Crypto supports the major cryptocurrencies to buy in New Zealand such as Bitcoin, Ethereum, Litecoin, XRP and several altcoins. In total, there are currently 44 cryptocurrency assets can be purchased using AUD, NZD or ZAR. The selection of available coins is fairly limited compared to the larger and more established exchanges. For example, Swyftx, CoinSpot and Binance offer over 280 cryptocurrency projects. A full list of the digital assets available on Easy Crypto can be viewed on the website by clicking on 'Rates'.
Exchange fees are an important consideration when using a fiat-to-crypto exchange. It becomes even more critical when purchasing larger amounts. Easy Crypto are transparent with its fees which are listed on the website.
Easy Crypto charges a flat trading fee of 1% for all buy and sell orders. This is the total price which means buying and selling will incur a 2% cost on the total amount. There are no fees to deposit or withdraw AUD using a bank account in Australia. This is comparable to similar exchanges such as CoinSpot, CoinJar and Elbaite but the fees are expensive when compared to Swyftx and Digital Surge. The two Australian-based exchanges are available in NZ and have a trading fee of 0.6% and 0.5% respectively.
1. Sign up & confirm email
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
2. Submit verification documents
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.
3. Deposit funds
User's can deposit funds to Easy Crypto using a bank transfer or POLi, which is an instant payment method. This option links the exchange directly to a 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 take a few minutes to complete and the funds are transferred direct to the exchange.
4. Trade Cryptocurrency
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 includes in-built security features and processes to ensure its customers have peace of mind. Several precautions have been undertaken 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 user's crypto assets are not held by the exchange and are vulnerable to crypto hackers.
- 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 cybercriminals 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)
Easy Crypto is a top-rated crypto exchange with a variety of features to suit investors and traders within Australia, New Zealand and South Africa. The following exchanges offer similar features that are reputable and trustworthy alternatives to Easy Crypto.
- Swyftx. The Brisbane-based crypto exchange is a standout platform for beginners and serious investors. With over 280 cryptocurrencies, advanced trading features, dollar cost averaging and taxation tools, Swyftx is our best-rated exchange in New Zealand and Australia.
- Digital Surge. Digital Surge is an innovative and well-designed platform that is tailor-made for beginners. The user interface is modern, easy to use and simple. There are 270 digital currencies that can be bought and sold in a matter of minutes.
- Independent Reserve. Founded in 2013, Independent Reserve is a long-running crypto exchange in Australia and New Zealand. The exchange has competitive trading fees of 0.5% per transaction that decrease with higher volumes within a 30-day period. Independent Reserve is a trusted crypto provider with over 80,000 Super Funds investors.
- Binance. The largest cryptocurrency exchange in the world accepts New Zealand Dollars directly on the platform. Best-known for its large selection of cryptocurrencies, low trading fees of 0.1%, and advanced trading platform, Binance is a good choice for New Zealanders.
- Coinstash. A new crypto exchange in Australia that has a beginner-friendly user interface and is ideal for beginners. The fees are slightly cheaper than Easy Crypto and have a similar number of supported cryptocurrencies.
Easy Crypto does not offer a mobile trading app for its users to buy and sell digital currencies. The desktop version of the website is mobile friendly and can be used on smart devices.
Easy Crypto does not have a derivatives or Futures market to trade cryptocurrency with margin or high leverage. Traders will need to find a leverage exchange that supports crypto. Examples are Binance, FTX and Bybit which are available in Australia to use.
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 to 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 straightforward and simple exchange that supports multiple fiat currencies to help everyday Australians, New Zealanders and South Africans to get started in digital currencies.
Also, it is highly recommended to use a hardware wallet such as the Ledger Nano X when buying cryptocurrencies. The ownership of crypto remains in the investor's possession and control, not the exchange. Read our guide on the best Bitcoin hardware wallets for more information.
Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.