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 New Zealand.
Ease of use
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Before diving into this review, 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.
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 to buy Bitcoin in Australia and invest in digital currencies. The exchange provides a variety of common deposit methods to buy 44 cryptocurrencies using AUD, including Bitcoin. The platform has an elegant user-interface and can send the cryptocurrency directly to an existing wallet, an exchange account, or to a cold-storage hardware device.
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 and South Africa to provide a similar service to the Australian market.
AUD, NZD, ZAR
POLI, Bank transfer
Easy Crypto Compared
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 that offers low trading fees.
$10 Free Bitcoin
0.1% / 1%
None available at this time
$10 Free Bitcoin
Is Easy Crypto Regulated?
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.
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 users crypto assets are not held by the exchange and 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 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. Easy Crypto has no history of exchange hacks based on our research.
Easy Crypto is available in Australia and New Zealand however the websites are separately run entities. The Easy Crypto New Zealand site for residents in New Zealand that want to invest in crypto.
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How To Buy Crypto With Easy Crypto
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 takes 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 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.
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. The speed of cryptocurrency deposits are quicker and can take between a few minutes up to 1 hour to process on the blockchain.
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 platform.
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.
Deposit & Withdrawal Fees
Easy Crypto does not charge a deposit or withdrawal fee.
Easy Crypto Security
The exchange does not store any of its user's funds or Bitcoin 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.
Frequently Asked Questions
Is There A Mobile App?
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.
Does Easy Crypto Have Leveraged Trading
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 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, New Zealander's and South Africans to get started in digital currencies.
- 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