Easy Crypto Review 2023
With a growing demand for digital currency exchanges, buying Ethereum or Bitcoin can be quite challenging for beginners new to the crypto world. Many cryptocurrency exchanges in the world allow fiat and cryptocurrency transfers, but they usually do not offer impressive and advanced features.
Easy Crypto Summary
|Supported Fiat Currencies||AUD, ZAR, NZD|
|Supported Countries||New Zealand, Australia|
|Customer Support||Mail & FAQ Support|
Easy Crypto is one of the best cryptocurrency exchanges in New Zealand, which enables traders to buy and sell digital coins securely and instantly. It is extending its support to the expansion of the digital currency market not only in New Zealand, but also to other countries, including South Africa and Australia. In this Easy Crypto review, we will discuss the features, trading fees, security features, and the ease-of-use of the Easy Crypto platform.
What Is Easy Crypto?
Easy Crypto is essentially a crypto broker in the digital market, which means that it acts as a gateway to allow traders to buy and sell crypto. It is a regulated exchange, providing a wide range of deposit methods to purchase over 44 cryptocurrencies using AUD, NZD, and ZAR fiat currencies. The platform is user-friendly and provides an elegant, yet simple user interface. Users can bank transfer the cryptocurrencies directly to either the cryptocurrency exchange account, a cold-storage, or existing crypto wallets.
Easy Crypto Review – Platform Interface
History of Easy Crypto
With its headquarters in New Zealand, Easy Crypto was developed in 2017 by Janine and Alan Grainger, a sibling duo, who aimed to create a safe and easy way for Australians and New Zealanders to trade in cryptocurrency. They designed the platform to enable users to experience smooth and secure cryptocurrency trading. The Easy Crypto team focused on creating the world’s simplest digital currency exchange and they have successfully expanded their services to different countries, including Australian and South African crypto markets.
Is Easy Crypto Regulated?
Easy Crypto is a regulated and licensed reporting exchange under the AUSTRAC (Australian Transaction Reports and Analysis Centre) that enforces financial laws and minimizes the risk of criminals and fraudsters who use cryptocurrency platforms for cyber crimes terrorism financing, and money laundering.
According to the Anti-Money Laundering and Counter—Terrorism Financing Act (2006), every regulated trading platform, including Easy Crypto, is required to gather information about their customers’ identities, monitor their financial activities, and finally report to the AUSTRAC if transactions seem to be suspicious, or includes hefty amounts over $10,000.
Is Easy Crypto NZ Safe?
Easy Crypto appears to be one of the safest platforms in Australia that allows users to buy cryptocurrency smoothly and securely. The cryptocurrency exchange has incorporated many precautionary measures to ensure the security and safety to their users’ funds:–
The verification process follows the KYC process per regulation for fiat currency deposits and withdrawals.
The platform is registered under AUSTRAC and fulfils the KYC and AML requirements.
Being a hardware wallet, users can deposit digital currency directly to the cold storage wallets linked to the customer’s bank account. This implies that the best cryptocurrency exchange platforms does not store any funds and hence there is no risk of theft or hacking on the platform.
The platform offers an additional two factor authentication over and above a verified email address linked to the client’s account. This acts as an extra layer of security to the account, making it more difficult for hackers to hack into the system and withdraw funds.
Easy Crypto Reviews – Why Choose Easy Crypto?
Features of Easy Crypto
Users get some of the best features for fast cryptocurrency trading on the Easy Crypto platform, minus the uncertainty or friction. A few notable features have been mentioned below:–
One of the essential aspects of this platform is the slippage. Slippage is the difference between the actual price when the trade is executed and the trade’s expected price. This phenomenon commonly occurs while buying Bitcoin due to the volatility of the financial market. If slippage becomes an issue in case of large trades, one can modify the buy amount to larger amounts while executing orders and review the Bitcoin prices.
Another notable feature is Easy Crypto’s Swap function that essentially enables users to swap a cryptocurrency for another (for instance, Ethereum to Bitcoin). To limit timing issues and price, it is highly recommended by the platform to place normal buy and sell trades for certainty and speed of the user’s choice.
The Easy Crypto Tracker is a handy instrument that records user trading history on the platform. It shows the overall statistics, including the market value of their purchases, total returns, and the net fiat currency invested.
Easy Crypto Reviews – Tracker by Easy Crypto
Easy Crypto provides a handy tool for calculating investor taxes. This feature gives a tax summary of the buy/sell transactions on this platform. However, it is to be kept in mind that these data are only indicative and should be considered only as an estimate. The exchange doesn’t guarantee accuracy of the data presented to.
The auto-invest feature on Easy Crypto allows users to create an auto-buy order that makes regular purchases of certain selected coins. Traders have full liberty to choose the coins and the ratio they wish to buy them at. For instance, for every deposit, they can choose to buy 50% Ethereum and 50% Bitcoin. So, every time traders deposit funds on the exchange, the system auto-buys those crypto coins in the selected ratio. This way investors are able to effectively dollar cost average their selected digital currencies. Although if having any doubt regarding Easy Crypto services or usage it is advised to check here.
Easy Crypto Reviews – Auto-Buy Order by Easy Crypto
Easy Crypto Review: Pros and Cons
|No hidden fees.||Transaction fees on the higher side.|
|Quality selection of coins.||High volume trades delay processing.|
|Suitable for beginners.|
|Above-par security support.|
|Auto-buy feature with dollar cost average strategy.|
How To Buy Crypto with Easy Crypto?
To start buying Crypto on Easy Crypto platform, users need to follow the steps mentioned below:–
Users need to go to the Easy Crypto website and click on “Create an Account”. This will provide the following options – Sign in with Google, Sign in with Email and Sign in with Facebook.
Submit Verification Documents
To verify their account, users need to submit documentation that complies with the KYC protocol, to make AUD or cryptocurrency deposits. Documentation requires passport or driver’s license details. For verification, they have to select My Account and then select Verification. After it’s complete, users can start depositing funds to their account with AUD.
To deposit funds on Easy Crypto, they can use POLi Payments or bank transfers which is an instant payment method.
Once the traders have deposited the funds in the Easy Crypto account, they can start making crypto purchases. To purchase crypto they need to:-
- Select a coin they want to purchase.
- Enter the AUD amount they want to spend.
- Review the order and select Buy Now.
Easy Crypto Reviews – Sign Up Process
Buying and Selling on Easy Crypto
- It provides an Instant Buy & Sell option that enables traders to buy/sell a specific cryptocurrency based on the fiat amount (like $100 worth of BTC), or in the crypto units (like 0.1 BTC).
- Users need to enter their wallet address for buying orders whereas for selling orders, they need to send their crypto to a particular address and the fiat will be sent to their bank account.
- The minimum order amount is $100 New Zealand Dollars for both buying and selling orders.
Easy Crypto Reviews – Buy & Sell on Easy Crypto
Setting Up an Easy Crypto Wallet
To start selling and buying cryptocurrencies on Easy Crypto, traders need to create a wallet for a particular cryptocurrency they are interested in purchasing. Easy Crypto is a hardware wallet that stores the user’s private keys. It is a trusted wallet available in the desktop version. Every wallet owner wants to protect their private keys first and then the coins. The private key is used during signing transactions and it allows users to bank transfer cryptocurrencies like Bitcoin from their corresponding wallet address.
Easy Crypto Fees
It is important to note that Easy Crypto charges 0.9% trading fee on all orders. This percentage comes down to as low as 0.7% based on the Discount Tier that starts at $1000 expenditure. All in all, Easy Crypto has a transparent fee structure with no hidden charges. However, there are a few mandatory fees users need to be aware of on Easy Crypto:-
A network fee is usually charged by the network for sending crypto. Unlike other platforms, Easy Crypto doesn’t charge network fees for withdrawing crypto into wallets.
Foreign Exchange Fees
Packages on this platform charge foreign exchange fees that are included in the price of the crypto.
No deposit or withdrawal fee is charged by Easy Crypto.
Are There Any Transfer Limits in Easy Crypto?
Easy Crypto does impose limits on the cryptocurrency purchases, but they vary based on the user verification level. The transfer limits have been clearly explained in the following table:–
|Verification Tier||Basic Verification Requirements & Process||Limits||Bank Transfer||POLi Payment|
|Tier 0||Create an account using Google, Twitter, Facebook, Github, or an email address.||Maximum 2-order & $500 total, including all orders.||Bank transfers are unavailable.||Purchase is processed instantly, 24-hour hold on deliveries.|
|Tier 1||Account verification with – a photo of NZ passport or driver’s license, address details and a selfie.||$30,000 total, including all orders.||Purchase processed when deposit is received and delivered when completed.||Purchase processed instantly and delivered when completed.|
|Tier 2||Complete Tier 1 verification and provide evidence of source of funds, an explanation of the transaction purpose, and an expected transaction amount and frequency.||Over $30,000 total, including all orders.||Purchase processed when deposit is received and delivered when completed.||Purchase processed instantly and delivered when completed.|
Accepted Payment Method
The supported payment methods on Easy Crypto trading platform are:–
- POLi Pay
- Bank Transfer
Easy Crypto Trading Assets
Easy Crypto supports over 44 major cryptocurrencies and altcoins that can be bought using AUD, NZD, and ZAR on the exchange platform. Here are a few digital assets available on the platform which users can also check their list by going to the Rates section:-
- Bitcoin Cash
- Binance Coin
- Basic Attention Token
- Bitcoin SV
- DigiByte and many more
Easy Crypto Customer Support
The Easy Crypto support team is always on its toes, helping customers who have issues relating to transactions or setting up an account. The team works from 8 am to 8pm from Monday to Friday and promises to respond within 24 hours. They also have a wide list of frequently asked questions on the company website. Users can also submit an online support ticket or general email enquiries.
Easy Crypto Reviews – Customer Support
Easy Crypto Review: Conclusion
To conclude this Easy Crypto review, it is justified to call the New Zealand exchange a reputable platform that offers excellent trading features in the Australian market. Compared to other exchanges, the fees are competitive in New Zealand but they are fairly high in Australia. The service is offered in New Zealand, Australia, and South Africa. All in all, Easy Crypto is an incredibly simple and straight forward cryptocurrency trading platform, supporting multiple digital currencies and fiat currencies to help traders initiate their trade in digital assets.
Is Easy Crypto Legit?
Yes, Easy Crypto is a registered and licensed reporting platform operating under Australian Transaction Reports and Analysis Centre (AUSTRAC) that enforce financial laws to reduce the threat from fraudsters and hackers using crypto exchanges for terrorism financing, cyber crimes and money laundering.
Does Easy Crypto Charge a Fee?
Easy Crypto does not charge any fee for signing up on the trading platform, depositing or withdrawing funds from the platform. However, it does make money by charging a trading fee of 0.7% to 0.9% per transaction depending on the user’s verification level.
Is There an Easy Crypto Mobile App?
No, Easy Crypto has not yet developed a mobile trading app for the traders to buy/sell cryptocurrencies. However, the desktop version kind of makes it up for the app as it is extremely mobile friendly and can be used on any smart device.
Note – Easy Crypto Reviews are not to be considered as an endorsement or investment advice of any kind. Traders are requested to seek financial advice from experts before trading on digital platforms.