To Australian cryptocurrency investors, the choice between Digital Surge and Kraken is a difficult one. Both platforms offer a wide range of features and have earned stellar reputations in the industry. So which one is really the better crypto exchange in Australia? 

Digital Surge has been a great option for beginners in Australia. It's easy to use, offers a wide range of coins and costs much less for transactions. The user interface also makes it very easy so even those who have never traded before will feel at home quickly! However, if you're looking into getting more advanced tools such as margin trading and futures, Kraken might be what you need.

In this article, we'll compare Digital Surge vs Kraken. We'll take a look at the features each one offers, as well as their prices and user experience, and by the end of this article, you should know which one is right for you.

Header

Coins

300+

19+

Trading Fee

0.5%

Varies

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Varies

Withdraw Fee

Free

Free

Deposit Methods

PayID, POLi

Debit Card, Credit Card, OSKO, Apple Pay, Google Pay

Features

- Over 300+ coins available

- User-friendly platform

- 24/7 customer support 

- Lower instant buy fees (0.5%)

- Advanced markets such as futures and margin trading

- Stake crypto to earn interest

- Low trading fees (0.16/0.26% maker/taker) on the market

Disadvantages

- No staking available

- Doesn't provide opportunities for advanced traders

- Only supports 19 coins in Australia 

- High instant buy/sell fees of 1.5%

Cell
Header

Coins

300+

19+

Trading Fee

0.5%

Varies

Deposit Fee

PayID: Free; POLi: $2 - $3.30

Varies

Withdraw Fee

Free

Free

Deposit Methods

PayID, POLi

Debit Card, Credit Card, OSKO, Apple Pay, Google Pay

Features

- Over 300+ coins available

- User-friendly platform

- 24/7 customer support 

- Lower instant buy fees (0.5%)

- Advanced markets such as futures and margin trading

- Stake crypto to earn interest

- Low trading fees (0.16/0.26% maker/taker) on the market

Cons

- No staking available

- Doesn't provide opportunities for advanced traders

- Only supports 19 coins in Australia 

- High instant buy/sell fees of 1.5%

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Digital Surge vs Kraken Features

With over 300+ coins available, Digital Surge is your go-to crypto exchange for beginners looking for a wide range of cryptocurrencies. The sign-up process is quick and hassle-free, with AUD as your base currency. They also have an innovative feature that lets their users pay any BPAY bills with Bitcoin in their Digital Surge account. Digital Surge has made crypto accessible for all Australians without having any technical know-how. If you run into any trouble, there is also excellent customer support on hand, including via live chat, so you can get assistance immediately.

Kraken is a very versatile cryptocurrency trading platform with features for beginners and experts alike. For those looking to get started quickly, there's an instant buy/sell option. Experienced traders have access to markets with lower fee of 0.16/0.26%, technical tools and detailed charts. For those looking for even more advanced trading options, there are some additional markets available too! You can trade forex and futures as well as earn interest on your staked cryptocurrencies.

Features: Kraken clearly has the edge over Digital Surge because it caters to both beginners and advanced traders. It offers staking, forex, futures and margin trading whereas the latter only offers cryptocurrency trading.

Number of Coins

Digital Surge offers 300+ coins.

Kraken offers 19 coins to Australians. There is a wider selection of 185+ coins for users in the USA, but most of these are not available to purchase with AUD.

Coins: Digital Surge offers a much wider range of options with over 300+ cryptocurrencies to buy, sell and trade. Kraken's options are more limited, with just 19 cryptocurrencies available in Australia.

Digital Surge vs Kraken Fees

Digital Surge offers a free fiat deposit via PayID, but if you want to use POLi, it'll cost you between $2 - $3.30. So far, the exchange has offered Australian banks as the only fiat withdrawal option, and it's free. Cryptocurrency trades are charged a 0.5% fee.

Kraken is an excellent option for traders looking for convenience in terms of payment methods. If you use OSKO or bank transfer to make deposits, it's free. With Google Pay and Apple Pay, it costs 3.75% + $0.25. Debit card and credit card deposits cost 3.75% + €0.25. (Card deposits are made in Euros, so you need to check that your card allows EUR to AUD conversions).

The premium rate of 1.5% is charged for instant buying and selling of crypto. If you trade on the market, makers pay 0.16% on the market, and takers pay 0.26%. Withdrawing AUD to your bank account is free.

Fees: Compared to Kraken, Digital Surge's deposit fee is much lower. Kraken's buy/sell fee of 1.5% is also much higher than Digital Surge's, which stands at 0.5%. However, Kraken market traders enjoy a 0.16% makers fee and 0.26% takers fee, which is lower than the 0.5% trading fee on Digital Surge.

Deposit Methods

Digital Surge accepts only two deposit methods: PayID and POLi.

Kraken offers a wider variety of deposit methods, including Google Pay, OSKO, Apple Pay, debit card, and credit card.

Deposit Methods:  Kraken is the clear winner here, offering a wider variety of deposit methods to choose from.

Digital Surge vs Kraken Security

Digital Surge is registered with ASIC and AUSTRAC and are compliant with KYC and AML requirements. They go above and beyond to ensure their security protocols are up-to-date and highly effective. 

In fact, they have never had a single cybersecurity breach since they were founded back in 2017. This is a testament to their commitment to keeping their clients' assets safe and secure.

One of the things that sets Digital Surge apart from other exchanges is the use of cold storage for the majority of their crypto assets. This means that they are not stored online, where they are susceptible to hacking. Instead, they are kept offline in a secure location, adding an extra layer of security.

Kraken is a reliable cryptocurrency exchange committed to ensuring the safety of their clients’ assets. With more than 95% of digital assets stored in cold storage and servers secured in cages guarded by armed guards, you can rest assured that your investment is safe. Kraken is also regulated by FinCEN in the USA, so you can trade with confidence knowing that they're complying with all the necessary legislation. When it comes to financial stability, Kraken has you covered there too – they maintain full reserves at all times.

Security: It's a tie since both exchanges have put in place high-security measures to protect their clients' assets.

Digital Surge Pros & Cons

Pros
  • Over 300+ cryptocurrencies supported
  • User-friendly platform
  • 24/7 customer support
  • Lower deposit fees and instant buy/sell fees
Cons
  • No advanced markets for experienced traders
  • No staking available

Kraken Pros & Cons

Pros
  • Advanced trading options such as margin trading, futures and forex
  • Low fees of 0.16%/0.26% when trading on the market
  • Staking available to earn interest on cryptocurrency
  • Various deposit options supported
Cons
  • Limited range of 19 coins for Australians
  • High fees of 1.5% for instant buy/sell

Conclusion

Both Digital Surge and Kraken are great choices for cryptocurrency trading in Australia. They both have high-security measures in place to protect your assets, and they're both compliant with legislation. Digital Surge wins overall due to the range of 300+ cryptocurrencies available, lower deposit fees and lower instant buy/sell fees.  

Kraken's advantage over Digital Surge is that it caters to both newcomers and experienced crypto traders. In addition to futures and forex trading, it provides staking, and margin trading whereas Digital Surge only offers spot trading on crypto. The fees for trading on the market are also lower, and they offer various payment options.

We recommend Digital Surge to crypto novices since it has lower fees, a beginner-friendly interface and offers 300+ different cryptocurrencies for instant trades. For traders confident in their abilities and who want access to more trading markets, try out Kraken - a more advanced platform offering competitive maker/taker rates of 0.16/0.26%.

If you want to consider other cryptocurrency trading options, you can read this article on the best crypto exchanges in Australia.

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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