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Easy Crypto Review 2024: Should You Trust This Exchange?
Luis Clark
- URL: https://easycrypto.com/
- Headquarter: Auckland, New Zealand
- Year Founded: 2018
- Platform App: Web, Mobile
- No. of Cryptos: 160+
- Fiats Available: AUS, NZD
- Withdraw Method: Bank Transfer, Crypto
- Payment Method: Account2Account, POLI Pay, Debit/Credit card, OSKO, Stripe, Online Eftpos, and Bank Deposit
Easy Crypto Review: Our Take
Easy Crypto Australia stands out for its sizable selection of cryptocurrencies, non-custodial storage support, and simplicity.
The crypto exchange is best for beginners as experienced crypto traders may find it too basic for complex trading needs.
It doesn’t offer the usual crypto services like staking, leveraged trading, etc. You can only buy and sell crypto assets.
That said, the worst con of the Easy Crypto Australia exchange is that there is no fee structure. You cannot know how much you’ll be paying beforehand till you place an order.
An Overview of Easy Crypto
Easy Crypto was launched in 2018 and is headquartered in Auckland, New Zealand.
It has since expanded its services to operate in places like Australia (Easy Crypto Australia), South Africa, and Brazil.
It was created by the sibling partnership of Alan and Janine Grainger.
Like most crypto exchanges, Easy Crypto Australia gives users access to more than 160 cryptocurrencies including Solana, Cardano, Bitcoin, Ethereum, and much more.
Currently, Easy Crypto Australia hosts just over 100,000 active traders.
Easy Crypto Australia isn’t a custodial service, it offers non-custodial storage, which means that Easy Crypto Australia does not hold on to funds Instead you choose the best place to keep your cryptocurrencies secure.
The Easy Crypto Australia exchange also offers other tools for users to manage their investments such as a Portfolio Tracker, an auto-buy feature, and much more.
The goal of the Easy Crypto Australia platform is to simplify various aspects of the crypto trading experience.
Pros
- Large selection of cryptocurrencies
- Beginner-friendly
- Non-custodial crypto storage
Cons
- No fee structure
- It only supports basic buying and selling
Easy Crypto Australia Review: Unique Features
OTC Trading Desk
The Easy Crypto OTC trading desk is designed for high-value individuals, Sole Traders, Associations or Trusts, Partnerships, companies, and other businesses willing to trade large volumes of cryptocurrencies.
The OTC desk is different from the regular exchange and is designed for individuals who want to trade AUD 25,000 or more in the crypto market.
Easy Crypto offers priority service and support to OTC customers.
The platform’s OTC agents work directly with OTC customers to negotiate a transfer of fiat/crypto. This offers the traders more volume and price flexibility.
The OTC desk’s deep liquidity offers the best value to traders at low fees.
Aside from the deep liquidity, OTC clients looking to trade large volumes can directly place large orders and negotiate better/lower fees.
Easy Crypto’s OTC trading desk is seamless and trades are easy to set up and execute.
To start OTC trading on the platform, you need to first sign up and create an account.
The normal verification ID (usually 2 of a Medicare Card, Passport, or Driver’s license) is required for verification.
You also need to provide Proof of Source of Funds for larger trades, this is required to prevent money laundering through the platform.
The required Proof of Funds can be proof of salary, inheritance, savings, etc.
Once you complete the signup process and verify your details, you will have to contact the OTC trade team.
You will be assisted with setting up your OTC trades.
Despite helping you through your OTC journey from sign-up to settlement, the OTC team does not give any investment advice, they only guide you to ensure smooth trading experiences.
Easy Crypto’s OTC trading desk supports all 160+ cryptocurrencies available on the platform.
OTC clients can also ask for coins that are not available for trade on the platform. The OTC team will look into the coin and see if it can be processed for the client.
Auto-Buy Order
Easy Crypto’s Auto Buy feature lets you automate your crypto purchases.
This means with a few taps on your mobile device (or even without doing anything at all) you can buy cryptocurrencies without visiting the Easy Crypto website.
With the Auto Buy feature, you can create one or more custom order templates.
Each template has a unique reference code associated with it.
The order template is made up of the type of cryptocurrency you wish to buy and their percentage/proportion.
You will need to link your bank account to Easy Crypto because whenever you want to execute the order, you will need to first make a transfer to Easy Crypto using the reference code.
The reference code will let the system know which order template to be used. The funds will be split and allocated based on the percentage values of each coin.
The exchange lets you transfer any amount of money for Auto Buy order execution. But there is a minimum order policy of $50 per coin.
This means if you choose only one coin for the Auto Buy, you will be able to deposit a minimum of $50, if however, the number of coins increases, the required minimum amount also increases.
That said, if you do not have sufficient funds to buy at least $50 of each coin, Auto Buy will prioritize coins with the highest percentage.
To Use the Auto buy feature, do the following:
Sign in to your account, go to the navigation menu, and click on “Buy & Sell”.
Next, click on “Auto Buy”
If you haven’t created an order template, a page will be opened where you can create one.
Select as many coins as you would like to the order template.
Next, add a delivery address for each coin as each coin is delivered to a unique address.
After inputting the delivery address for each coin, click “Confirm Order”.
Your order template is ready.
To execute the order, send any amount of fiat money to Easy Crypto. The platform will handle the rest.
You can manually make payments for Auto Buy orders whenever you want or you can set a regularly scheduled payment with the reference code for the order template.
Cryptocurrencies Available on Easy Crypto
Easy Crypto supports over 160 cryptocurrencies.
Supported cryptocurrencies include Bitcoin, Ethereum, Dogecoin, Compound, Gala, Polkadot, Dai, Aave, CAKE, Algorand, ApeCoin, Avalanche, Binance Coin, Binance USD, Chainlink, Ethereum Classic, Polygon, Shiba Inu, SushiSwap, Tether, USD Coin, Stellar Lumens, XRP, etc.
Easy Crypto Australia Review: Fees
Easy Crypto Australia charges 2 primary types of fees: Order Fees and Service Fees.
Order Fees
Easy Crypto Australia uses all-inclusive trading fees. This means that when you enter an amount in Australian dollars (AUD), the amount you see that you’ll receive is what you’ll get.
For withdrawal fees, Easy Crypto Australia does not charge any fees. It also does not charge any deposit fees, and it adds network fees to the order amount.
The platform also doesn’t charge trading fees for payment processing.
Service Fees
In the occurrence of the following events, Easy Crypto Australia charges the relevant service fees:
- Bank transfer deposit with no reference number attached: $10
- Deposits from Bank account not in the client’s name: $25
- Refund to the customer’s bank account: $50 – $100 plus any currency exchange
- Initiating a manual change to crypto order (For example, changing the coin type ordered, crypto wallet address, or other modifications that require intervention from the Easy Crypto team): $25 – $500 depending on how complex the change is
- An Attempt to send digital assets to an unregulated third party, a scam, or an MLM against Easy Crypto terms and conditions: $25 – AUD 100+/Crypto reversal
- Issued a fraud payment (whether knowingly or unknowingly) that requires a refund of the payment and termination of the user’s account: $250 – $1k + AUD/Crypto reversal
- Recoveries: $100-$1000 depending on how complex it is.
Easy Crypto Australia will deduct the following charges from your order when they resolve the service problem.
Trading Fees
Easy Crypto Australia charges a percentage when you buy digital assets through them.
However, unlike other competitors, Easy Crypto Australia does not state what these trading fees are as according to them they can’t know till you place the order.
This means that you will be unable to tell how much you’ll be paying in fees for each transaction beforehand.
You can only tell after placing an order and viewing the Rate Info screen.
For Easy Crypto users in New Zealand, the crypto exchange offers trading fee discounts based on the amount spent on the platform.
This discount also varies weekly:
- Up to $1,000: N/A
- >$1,000 – $10,000: 5% discount
- >$10,000 – $100,000: 10% discount
- Over $100,000: 20% discount
Easy Crypto Payment Methods
Easy Crypto Australia offers several payment methods including POLI Pay, Debit/Credit card, OSKO, Stripe, Online Eftpos, and Bank Deposit.
That said, some users recently stated that they’ve been unable to deposit via POLi Pay and Easy Crypto advised the use of OSKO for instant deposits.
Easy Crypto Australia Review: Security
The Easy Crypto digital currency exchange is a registered Financial Services Provider regulated by the Australian Transactions Reports and Analysis Centre (AUSTRAC).
It is fully compliant with the AML Regulation enacted by the government of New Zealand.
Easy Crypto is a non-custodial crypto exchange.
This means the platform does not have a crypto wallet where it holds users’ funds. Users hold their crypto assets and are fully responsible for the security of the assets.
That said, the platform offers information on how users can protect their funds using two-factor authentication and other security measures. It also has a store where users can buy hardware wallets.
Easy Crypto Staking Rewards
Easy Crypto does not offer staking services.
Opening a Easy Crypto Account
To open an Easy Crypto Account go to https://easycrypto.com.
Next, select your country of residence in the pop-up menu that appears on the screen. In this case, choose Australia.
Click on the Sign Up button.
On the page that opens, tap on the Email button, X(formerly Twitter button), or Facebook button depending on how you want to sign up.
After that, you’ll be redirected to the Easy Crypto Australia sign-up page.
Enter your email address and password then tap on Continue.
Go to your email and click on the Verify Email button.
That’s it! You’ve created an account. The next step involves account verification.
Supported Countries
Easy Crypto is only available to users resident in New Zealand, Australia, South Africa, and Brazil.
Easy Crypto Australia Review: Trading Experience
The Easy Crypto platform offers a simplistic trading experience. You can only buy and sell cryptocurrencies. There are no advanced trading tools or spot market pairs.
In general, it is easy to use and straightforward.
Customer Service
Easy Crypto offers customer support via Live Chat and email at help@easycrypto.com.
The customer support team also makes outbound calls for customer service purposes only using the official phone number.
The support team does not answer any inbound calls to the support phone number.
Customer Satisfaction
Easy Crypto offers good customer service to users. Customer reviews show that the platform has a user-friendly interface and the support team offers prompt, helpful service when needed.
Does Exchange Offer Education?
Yes, Easy Crypto has a Learn selection that has articles about recent happenings in the crypto industry, crypto basic topics, security resources, and much more.
Is Easy Crypto Australia Exchange Right for You?
Easy Crypto Australia is right for beginners who want a non-custodial service that allows them to buy crypto with fiat currency.
Final Thoughts
Just like its name, Easy Crypto is a simplistic crypto platform that allows users to buy and sell crypto for fiat currency.
It doesn’t offer advanced charting and trading tools and isn’t for experienced traders. Experienced traders looking for advanced features will need to check for Easy Crypto alternatives with the desired features like Binance Australia, or for another alternatives easy to navigate you can check out our BTC Markets review.
We have also compiled a list of the best exchanges in Australia that is definitely worth to explore.
FAQ
Most frequent questions and answers
Easy Crypto is owned by the two siblings Alan and Janine Grainer.
You can withdraw your funds to a crypto wallet address or as fiat currency to your Australian bank account.
Easy Crypto is based in New Zealand.
Yes, Easy Crypto works in Australia.
Yes, the exchange is a licensed crypto Exchange.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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