The cryptocurrency world is constantly changing and evolving, and Australia is no different. In the last few years, we've seen a rise in the number of exchanges and trading platforms available to investors.
Cryptocurrency investors in Australia have a couple of great options for exchanges: Digital Surge and Binance Australia are two of the most popular. Both platforms offer a wide range of coins as well as different features and benefits.
So, which of the two is better? This comparison article will look at each crypto exchange's features, pricing, security standards, advantages, and disadvantages to help you make an informed decision.
Header |  |  |
|---|---|---|
Coins | 300+ | 600+ |
Trading Fee | 0.5% | 0.1% |
Deposit Fee | PayID: Free; POLi: $2 - $3.30 | Free |
Withdraw Fee | Free | Free |
Deposit Methods | PayID, POLi | PayID, OSKO |
Features | - Trade over 300+ coins - User-friendly interface, perfect for beginners - 24/7 customer support - Mobile app for on-the-go trading | - Trade over 600+ cryptos - Low trading fees of 0.1%, free AUD deposits & withdrawals - Earn interest on your crypto holdings by staking |
Disadvantages | - More expensive fees compared to Binance Australia | - Platform doesn't offer live chat customer support - User-interface is not beginner-friendly |
Cell |
Header | | |
|---|---|---|
Coins | 300+ | 600+ |
Trading Fee | 0.5% | 0.1% |
Deposit Fee | PayID: Free; POLi: $2 - $3.30 | Free |
Withdraw Fee | Free | Free |
Deposit Methods | PayID, POLi | PayID, OSKO |
Features | - Trade over 300+ coins - User-friendly interface, perfect for beginners - 24/7 customer support - Mobile app for on-the-go trading | - Trade over 600+ cryptos - Low trading fees of 0.1%, free AUD deposits & withdrawals - Earn interest on your crypto holdings by staking |
Cons | - More expensive fees compared to Binance Australia - No staking available | - Platform doesn't offer live chat customer support - User-interface is not beginner-friendly |
Cell |
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Digital Surge vs Binance Features
Digital Surge is the perfect platform for beginners and experienced traders alike. With a user-friendly interface and a wide selection of coins (300+) to choose from, you're sure to find what you need at Digital Surge. The support team is available 24/7 to help with any questions or concerns you may have and to help you get the most out of your investment. Digital Surge also offers users the ability to pay Australian bills using Bitcoin from their account, which is very innovative.
Binance Australia, on the other hand, is a comprehensive and feature-rich cryptocurrency exchange. With over 600+ coins and plenty of markets to choose from, including margin trading, futures, P2P marketplace, and more, Binance Australia has everything you need to grow your crypto portfolio. You can also stake more than 70+ coins to earn passive income or borrow and lend crypto on the platform.
Features: Binance Australia is the ultimate winner here. Digital Surge is an excellent option if you're looking for a simple crypto exchange. However, if you're looking to really grow your portfolio, Binance Australia is the better choice, thanks to its wide range of features.
Number of Coins
Digital Surge offers 300+ coins.
Binance Australia offers 600+ coins.
Coins: Binance Australia takes the lead here; they offer over 600 coins compared to Digital Surge’s 300+.
Digital Surge vs Binance Australia Fees
Digital Surge charges between $2 - $3.30 for PoLi deposits but offers free fiat deposits via PayID. Withdrawing to your bank is free, while a 0.5% transaction fee is applied to all trades.
Binance Australia charges a flat 0.1% trading fee, with free deposits and withdrawals. Using the Binance Coin (BNB) to pay the trading fee will have it dropped by 25%.
Fees: It's evident that Binance Australia is the cheaper option. Having a discount when paying trading fees with BNB is also a great incentive.
Deposit Methods
Digital Surge accepts POLi and PayID.
Binance Australia accepts OSKO and PayID.
Deposit Methods: It's a draw, given that both platforms offer two deposit options.
Digital Surge vs Binance Security
As one of the leading cryptocurrency exchanges, Digital Surge is registered with ASIC and AUSTRAC, so you can be sure your transactions are safe and compliant with local regulations. With 2-step verification required for withdrawals and hot and cold storage to hold customer funds, you can rest assured that your money is safe. Their highly sophisticated multi-layered security system protects users against potential threats, while their regular security reviews and updates ensure that they are always ahead of the curve.
In its five years of existence, Digital Surge has never been hacked, showing the efficacy of its solid security architecture.
Binance, however, has not been so lucky. In May 2019, the world’s largest cryptocurrency exchange by trading volume was hacked to the tune of $40 million in Bitcoin. This event caused a lot of users to lose faith in the platform and question its security protocols.
Fetch.ai, a blockchain database developer, also claims that it was hacked on June 6, 2021, and about $2.6 million worth of cryptocurrency was stolen from its Binance account.
Following the security breaches, Binance spent time stepping up their security systems and implementing security measures to protect their customers' digital investments. It's also worth noting that they are ISO 27001 certified, and they passed their information security management audits.
Security: Digital Surge has always been a reliable and secure exchange platform for buying, selling, and trading cryptocurrencies. Binance, on the other hand, has had its fair share of security breaches. Despite this, Binance has taken measures to improve its security protocols. Based on these factors, we can say that both exchanges are equally safe and secure for users.
Digital Surge Pros & Cons
- Trade over 300+ cryptocurrencies
- User-friendly interface, perfect for beginners
- 24/7 customer support
- Mobile app for on-the-go trading
- More expensive compared to Binance
Binance Australia Pros & Cons
- Trade over 600+ cryptocurrencies
- Low fees of 0.1% on trades
- Free AUD deposits and withdrawals
- Earn interest on your crypto holdings by staking
- Platform doesn't offer live chat customer support
- User-interface is not beginner-friendly
Conclusion
Both Digital Surge and Binance Australia are great options for those looking to trade cryptocurrencies. What you want from your crypto exchange will determine which one you choose. For newcomers, Digital Surge (see full review) is the more beginner-friendly option. They have excellent 24/7 customer support, including live chat, and an impressive range of over 300+ coins. However, for more experienced users, it's clear that Binance Australia (full review) is the better option. With lower fees, a huge range of 600+ cryptocurrencies, and a ton of features, it is the obvious choice for those looking to get the most out of their trading experience.
If you want to consider all your cryptocurrency exchange options, you can keep researching by reading our article on the best crypto exchanges for Australians.
