Digital Surge Features & Assets
Digital Surge is in the top 5 Australian cryptocurrency exchanges due to its large selection of tokens and competitively low instant buy fees. However, the platform does not support a wide range of features as it's still a relatively new exchange. Below we have curated a list of Digital Surge's features and supported cryptocurrencies.
- Wide selection of tokens: A total of 308 cryptocurrencies are available to buy and sell on DS.
- Low Fees: Trading fees starting from 0.5% and get as low as 0.1% (for high trading volume).
- High APY Crypto Staking: Staking available on 13 tokens with yields up to 23% APY.
- AUD Deposit Methods: A variety of AUD payments including Bank Transfer, Debit Card, POLi and PayID.
- SMSF Services: Invest in Bitcoin and other cryptos with your Self Managed Super Fund.
- Educational Resources: A 'Learn' features with guides on crypto investing and trading.
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What Happened to Digital Surge?
Digital Surge, an Australian cryptocurrency exchange, was saved from collapse after receiving a $1.25m loan from creditors. The exchange transferred $33m worth of assets to FTX, a global platform that collapsed in November 2022, just two weeks before Digital Surge itself went into administration. Digital Surge's creditors agreed to a long-term plan to keep the business running and repay customers over five years.
Customers with under $250 in their wallets will be repaid in full, while the rest will receive 55% of their balance in the next few months and the remaining amount over the next five years from any quarterly profits made by Digital Surge. The company's directors held the view that FTX was reputable due to their personal experience with the platform, the venture capital firms behind it, and the fact that it held an Australian Financial Services Licence (AFSL).
Is Digital Surge a secure crypto exchange?
Digital Surge is considered a highly secure digital asset exchange under the relevant AUSTRAC rules and requirements. AUSTRAC is the regulatory government authority who is responsible for anti-money laundering and counter-terrorism financing.The platform operates under the title 'Digital Surge Pty Ltd', and is a registered company with ASIC with ACN 620 473 109.
Furthermore, it has 2FA enabled for all withdrawals, stores a majority of users' funds offline in cold storage and the website traffic runs entirely over encrypted SSL (HTTPS). In addition to these security measures, all Digital Surge staff are required to undergo a criminal background check to ensure internal safety. And all platform/user passwords are hashed and salted in the database.
Fees: Trading, Withdrawal & Deposit
Digital surge offers a simple fee structure, the trading fees are calculated based on users 30 days trading volume. Your trading volume is collected and calculated every hour. The trading fees start from 0.5% and go all the way down to 0.1% when you trade over $1M a month. Refer to the list below for a detailed summary of the trading fees and eligibility requirements.
- 0.5% = < 100K monthly trading volume.
- 0.4% = 100K - 250K monthly trading volume.
- 0.3% = 250K - 500K monthly trading volume.
- 0.2% = 500K - 1M monthly trading volume.
- 0.1% = 1M > monthly trading volume.
As for withdrawal and deposit fees, Digital Surge does not charge any fees to withdraw AUD. For crypto withdrawals you will need to pay a small fee cover the cost of gas (network transaction fee). Crypto deposits however, are completely free and AUD deposits vary depending on the method.
- For PayID & Bank Transfer Deposits: Free
- For POLi Deposits:$2 - $3.30 AUD
Digital Surge 'Earn' | Crypto Staking
The exchange offers some of the highest staking yields out of any Australian crypto exchange, second only to CoinSpot. The APY (Annual Percentage Yields) offered on the platform vary between 4% - 23%, which is considered relatively high for a centralised cryptocurrency exchange. Refer to the photo below for a high-level overview of its supported staking tokens and their returns.
How to contact Digital Surges Customer Support
The support team can be reached via live chat (through intercom) between the hours of 9AM - 5PM AEST. Additionally the team can be contact via email on contact@digitalsurge.com.au. You can also join one of their online communities including LinkedIn, Twitter & Facebook.
Mobile App - iOS & Android Supported
The mobile app version of the exchange is available for both Android and iOS devices. The app offers the same UI and functionality as the web version, users can access their portfolio, check markets and stake cryptocurrencies on the go. Digital Surge mobile app is ranked #171 overall in the Finance category on the Apple app store. You can download it on Apples Store and the Google Play Store.
Digital Surge Self Managed Super Fund (SMSF)
It is now easier than ever to invest your SMSF into Bitcoin and other cryptocurrencies on Digital Surge. The platform offers SMSF services with personalised customer support, free and instant deposits onto the platform and an easy UI. The SMSF feature supports DCA (Dollar-Cost Average) investing on crypto to minimise your risk by scheduling recurring buys. To learn more, visit Digital Surge SMSF.
The Bottom Line
Digital Surge is a popular option in Australia, offering a simple and secure trading platform. With competitive fees, robust security measures, and high returns on crypto staking, Digital Surge is a great choice for anyone looking to get started with cryptocurrencies. However, if the platform lacks tokens or features, we recommend using the CoinSpot exchange.
