Cryptocurrency is rapidly becoming a more and more popular investment, with people all over the world viewing it as a way to secure their financial future. Choosing the right cryptocurrency exchange is critical for anyone looking to invest in digital currencies. Do you go with the big, well-known exchanges or do you try something new?

Digital Surge is an Australian based crypto exchange platform. It was launched in 2017 and has since become one of the best crypto exchanges in Australia offering a simple and easy to use interface for novice traders.

eToro is a long-standing trading platform founded in 2007, in Israel, but has made its services available to traders in the UK, USA and Australia. The platform offers different financial products across many different markets including forex and crypto trading

In this article, we'll compare these two popular exchanges in Australia. We'll take a look at what each one has to offer, as well as their respective prices and features. So, which is the better crypto exchange? Let's find out!

Header

Coins

300+

50

Trading Fee

0.5%

1%

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Free (currency conversion fee applies)

Withdraw Fee

Free

$5 (plus currency conversion fee)

Deposit Methods

PayID, POLi

Bank transfer, PayID, POLi, Credit card, Debit card

Features

- Over 300+ coins available

- User-friendly interface

- 24/7 customer support 

- Lower fees and spreads

- Demo account so beginners can practise trading risk-free

- Staking available to earn interest

- CFD trading is supported

Disadvantages

- No staking available

- Doesn't offer advanced markets

- Only supports 50 coins 

- Currency conversion fees on deposits and withdrawals

Cell
Header

Coins

300+

50

Trading Fee

0.5%

1%

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Free (currency conversion fee applies)

Withdraw Fee

Free

$5 (plus currency conversion fee)

Deposit Methods

PayID, POLi

Bank transfer, PayID, POLi, Credit card, Debit card

Features

- Over 300+ coins available

- User-friendly interface

- 24/7 customer support 

- Lower fees and spreads

- Demo account so beginners can practise trading risk-free

- Staking available to earn interest

- CFD trading is supported

Cons

- No staking available

- Doesn't offer advanced markets

- Only supports 50 coins 

- Currency conversion fees on deposits and withdrawals

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Digital Surge vs eToro Australia Features

If you're a beginner, you might find the complexity and technical jargon of some platforms off-putting. That's where Digital Surge comes in. This exchange offers a user-friendly platform that makes it easy for beginners looking to invest in crypto.

You're spoilt for a choice with over 300+ crypto options to buy, sell or trade on Digital Surge. This includes popular coins like Bitcoin, Ethereum, and Litecoin, as well as more obscure altcoins.

This platform also offers 24/7 customer support and live chat should you need any assistance.

On the other hand, eToro Australia is a social trading platform. What sets it apart from other trading platforms is its CopyTrader feature, which lets you copy the portfolios of other successful traders on the site. This can be helpful if you're unsure where to start or what coins to invest in.

eToro is a crypto exchange that offers staking, which is where you earn rewards for holding cryptocurrencies in your eToro wallet. You can grow your crypto holdings as you HODL for the long term.

Traders on eToro Australia can also take advantage of CFD Trading. With an agreement to pay the difference, you can trade on prices dropping or soaring without having any of your own crypto assets at stake.

If that's not enough, eToro also offers a demo account that allows you to practice trading without risk or loss.

Features: Compared to Digital Surge, eToro Australia offers a wide range of features that makes it an excellent choice for beginner and experienced traders alike.

Number of Coins

Digital Surge offers 300+ coins.

eToro Australia offers only 50 coins.

Coins: The coin offerings at Digital Surge far exceed those of eToro, with more than 300+ available for trade.

Digital Surge vs eToro Australia Fees

On Digital Surge, bank withdrawals and deposits are free. However, traders using POLi for deposits incur a fee of between $2 and $3.30 per transaction. A commission fee of 0.5% is also applied to all trades. Digital Surge has the lowest spreads in Australia too, according to this test by reputable review site Marketplace Fairness.

eToro is a bit more expensive when it comes to fees. Deposits are free, but withdrawals incur a $5 fee. Since eToro is not an Australian company, customers are charged a currency conversion fee to convert USD to AUD and vice versa for deposits and withdrawals. For trades, the fee is 1% for buying and selling crypto.

Fees: Digital Surge's lower rates and spreads make it more appealing for traders in Australia. eToro Australia's clients are charged higher transaction costs, in addition to currency conversion charges on deposits and withdrawals.

Deposit Methods

Digital Surge accepts PayID and POLi deposits.

eToro Australia accepts bank transfer, POLi, PayID, credit card, and debit card deposits.

Deposit Methods:  eToro Australia offers more deposit methods than Digital Surge, with the addition of credit and debit card options.

Digital Surge vs eToro Australia Security

Digital Surge is your go-to exchange for the safest and most reliable cryptocurrency transactions. This exchange platform is ASIC and AUSTRAC registered and compliant with stringent KYC and AML requirements.

As a security measure, Digital Surge has implemented Two-Factor Authentication for all accounts and offline storage of most digital assets providing an extra layer of protection for customers' investments.

Since its inception, there have been no reports of Digital Surge's system being hacked, an indication that the platform is secure.

eToro also offers a safe and secure platform for trading cryptocurrencies. This platform is backed by tier 1 banks, and customers' data is encrypted with SSL. With regulation from FCA, ASIC, and CySEC, you can be sure that your funds are safe.

Security: Based on the security features offered by each exchange, it seems that both eToro Australia and Digital Surge are equally safe choices when it comes to investing and trading crypto on the platforms.

Digital Surge Pros & Cons

Pros
  • Over 300+ cryptocurrencies supported
  • User-friendly interface
  • 24/7 customer support with Live Chat
  • Lower fees and spreads
Cons
  • Doesn't offer advanced markets for experienced traders
  • No staking available

eToro Australia Pros & Cons

Pros
  • Demo account so users can practise trading risk-free
  • CFD trading is available
  • Stake your crypto to earn interest
  • Use CopyTrading to automatically mimic the trades of successful traders
Cons
  • Limited range of 50 coins
  • Higher fees and spreads, as well as currency conversion fees

Conclusion

Digital Surge is one of our top recommended cryptocurrency exchange for beginners, since it offers a simple and convenient platform for buying and selling digital assets. Digital Surge has a user-friendly platform, supports more coins, and has the lowest combined spreads and fees in Australia.

On the other hand, eToro Australia is a well-established platform that offers more than just cryptocurrency trading. eToro may be more expensive, but it includes a demo account for novice traders and advanced trading markets such as CFDs for experienced traders.

If you're interested in getting started with cryptocurrency trading, then either of these platforms would be a great fit; it all depends on what you are looking for. You can read our Digital Surge review or eToro Australia review to learn more, or you may find our article on the top crypto exchanges in Australia helpful.

About the author 

Luke Campbell

Luke is an early adopter of cryptocurrency, and was buying and using Bitcoin back in 2011. He has seen the landscape of cryptocurrency change over the years, and firmly believes we are still in the early stages of mainstream crypto adoption. Luke is fascinated about the potential of the metaverse, and invests in virtual real estate.

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