Digital Surge vs Coinbase | Which Exchange Should Australians Use?
Jack Moreau
Feb 2024
7 min read
Fact checked
Digital Surge vs Coinbase: In this comparison, we have thoroughly examined the key features and benefits of both Digital Surge and Coinbase. From KYC requirements to country availability, trading fees to deposit methods, we have analysed various metrics to help you decide which exchange is best for your needs!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Digital Surge is an Australia-based cryptocurrency exchange that was founded in 2017 by John Lehman and Dan Rutter. It is registered and headquartered in Brisbane, Australia.
Digital Surge Exchange
With a small workforce of over 20 employees, Digital Surge focuses on providing a user-friendly platform for Australians to buy, sell, and trade over 300 cryptocurrencies.
The exchange targets mainly beginners who want to invest in cryptocurrencies and NFTs. Despite being a smaller company, Digital Surge emphasises simplicity, security, and customer support to offer a seamless experience for beginners.
Digital Surge only has a very limited foot print as it's only available to citizens of Australia and New Zealand.
Digital Surge App
On the other side we have Coinbase Exchange which founded in 2012 by Brian Armstrong and Fred Ehrsa. Coinbase is based in the United States and it's one of the biggest exchanges in the world known for its user-friendly interface, security, and regulatory compliance.
Coinbase Exchange
Coinbase has over 5000 employees and offers its services in 100 countries to a massive user base that has exceeded 100 million users around the world.
Coinbase provide support for over 200 cryptocurrencies including the most well known one's such as BTC, ETH, SOL, ATOM, DOT, ADA, DOGE and many others.
Coinbase caters to both retail and institutional investors with services like spot trading, recurring buys, staking and earning, educational programs and custody solutions for institutions.
In terms of mobile accessibility, both Digital Surge and Coinbase have apps available on Android and iOS devices.
Digital Surge has over 5,000 downloads on both platforms, while Coinbase has a larger user base with 10 million downloads on Android with a rating of 4.1 stars based on over 750,000 reviews.
Coinbase App
Both exchanges provide support for a wide range of cryptocurrencies, with Digital Surge offering over 300 cryptocurrencies and Coinbase offering over 200 cryptocurrencies.
However, Coinbase has a stronger reputation and more established presence in the global market compared to Digital Surge. So while Digital Surge is solely focused on the Australian market, Coinbase is the leading exchange exchange in the US and Europe.
Digital Surge vs Coinbase KYC Requirements
When it comes to signing up, Digital Surge and Coinbase both offer smooth and efficient signup processes.
Digital Surge provides a seamless signup process that only requires an email and password to open an account. It'll only take you a few minutes to get started and create your account.
However, if you want to buy and sell cryptocurrencies on Digital Surge, you'll need to go through their Know Your Customer (KYC) process.
Digital Surge KYC requirements
This means providing personal information including an Australian phone number and a valid government ID.
By completing the necessary documents accurately, you can expect to get verified within just 5-10 minutes. Users who are not Australian citizens won't be able to use the services offered by Digital Surge.
Similar to Digital Surge, Coinbase also offers a quick and straightforward signup process that can be completed in about 1 minute. All you'll need to do is provide your full name, email and a password to signup.
Once you have verified your email your account will be opened and you can then move on to completing the KYC verification.
Just like Digital Surge, Coinbase also requires KYC verification which involves submitting information such as phone number, country of residence, address and a valid government ID.
Coinbase signup
The verification process itself can be completed within a few minutes and it can then take up to a few hours for Coinbase to verify your account. This ensures that each user's identity is verified and helps prevent fraudulent activities on their platforms.
So, whether you choose Digital Surge or Coinbase, in both cases you have to verify your identity in order to buy and sell cryptocurrencies.
Digital Surge vs Coinbase Crypto Products
Digital Surge is a cryptocurrency exchange that offers a very basic range of trading services. Users can buy, sell, and swap over 300 cryptocurrencies, including popular options like Bitcoin, Ethereum, Cosmos, Solana and Polkadot.
Digital Surge Cryptocurrencies
The exchange also provides a recurring buy feature for dollar cost averaging and price alerts to help users stay informed. Additionally, Digital Surge has its own NFT marketplace, allowing users to list, buy, sell, and trade NFTs.
Digital Surge interface
The user experience on Digital Surge is quite nice overall with a well-designed website that is easy to navigate, particularly for beginners. The exchange has made it simple for crypto newcomers to sign up, get verified, and begin buying and selling their preferred coins and tokens.
Coinbase being the much larger exchange both in terms of employees and users offers a much more extensive range of features and services compared to Digital Surge.
Coinbase Products
Alongside basic spot trading where users can buy and sell over 240 popular cryptocurrencies like Bitcoin and Ethereum, Coinbase also provides lending and borrowing options.
Coinbase spot trading
This allows users to earn up to 5% interest on their USDC or even obtain loans by using their digital assets or borrow against their Bitcoin (BTC).
Coinbase Borrow
Staking services are available also for cryptocurrencies such as Ethereum, Solana, Cardano, Tezos, Polkadot, and Cosmos, enabling users to earn rewards on these assets.
Coinbase Staking
Coinbase offers its own Web 3 wallet and a Coinbase Card, which allows users to spend cryptocurrencies and earn cashback.
Coinbase earn
Recently, Coinbase launched its NFT marketplace to cater to the growing demand for digital art and collectibles where users can buy and sell NFTs on Ethereum and Solana.
Coinbase NFTs
Additionally, the exchange runs a "Learn and Earn" program that encourages users to learn about cryptocurrencies and rewards them with digital assets.
Coinbase Learn
In terms of user experience, Coinbase provides a beginner-friendly and easy-to-navigate website. However, it does experience occasional connection issues which are frustrating.
Coinbase Interface
Coinbase's liquidity is considered to be in the top 5 category with daily spot trading volumes frequently exceeding $1 billion. The exchange also offers leverage of up to Xx on USD-quoted books for Coinbase Pro customers in 23 U.S. states.
Coinbase pro
So while Digital Surge is a beginner-friendly exchange that offers a small range of services to Australians, Coinbase provides a more extensive range of services and features to it's 100 million users.
Let's take a closer look at the fees offered by Coinbase and Digital Surge and see how they compare.
Digital Surge charges a 0.5% transaction fee on each trade. This fee is applicable for buying and selling cryptocurrencies, and it remains the same regardless of your trading volume.
So, whether you're a small-time investor or a big player in the market, the fee structure is equal for everyone. Not a great way to attract whales in other words.
On the other hand, Coinbase has a slightly different trading fee structure. For spot trading, Coinbase charges a maker fee of 0.40% and a taker fee of 0.60%. These fees apply to both buying and selling cryptocurrencies on the platform.
Coinbase maker and taker fees
However, Coinbase does offer a potential discount on trading fees if your monthly trade volumes exceed $10,000. This means that if you are an active trader and consistently engage in high volume trades, you will be eligible for lower fees on Coinbase.
Digital Surge and Coinbase as such have quite similar trading fees with Coinbase offering discounts for high volume traders. Overall, these trading fees are not particularly competitive if you compared them to the industry average.
Digital Surge and Coinbase are both cryptocurrency exchanges that offer support for fiat currency deposits. However, there are some key differences in the deposit methods and fees offered by each exchange.
Digital Surge supports deposits in Australian Dollars (AUD) and offers two deposit methods: PayID and POLi. PayID is a bank transfer method that allows users to deposit funds in as little as 60 seconds, and it is completely free to use.
On the other hand, deposits with POLi Pay come with a small transaction fee and have a daily limit of $8,000.
In contrast, Coinbase allows users to deposit funds in three different fiat currencies: USD, EUR, and GBP. The deposit methods available on Coinbase include ACH, Wire (USD), SEPA (EUR), and Swift (GBP).
Coinbase fiat deposits
ACH deposits on Coinbase are free, while Wire deposits come with a $10 USD fee. SEPA deposits have a fee of 0.15 EUR, and Swift deposits are free. For users that want to deposit via their credit/debit cards, the deposit fees are 1.8% of the total deposit amount.
So, if you are in Australia and prefer a quick and free deposit method, Digital Surge would be a good choice. On the other hand, if you are in the United States, Europe, or the United Kingdom and want more deposit options, Coinbase would be a better fit.
Digital Surge and Coinbase both provide various withdrawal methods to their users. Let's take a closer look at the withdrawal options provided by each exchange.
Digital Surge allows users to withdraw their AUD either through NPP/Osko withdrawals or through a normal bank transfer process. The minimum withdrawal amount is $20, and there are no fees associated with fiat withdrawals.
When it comes to cryptocurrency withdrawals, Digital Surge charges a fee of 0.0002 BTC for Bitcoin withdrawals and 0.006 ETH for Ethereum withdrawals. For Solana, there is a withdrawal fee of 0.01 SOL, and for ERC-20 Tether, users are required to pay a $7 USDT fee.
SEPA withdrawals have a fee of 0.15 EUR, and Swift withdrawals require a payment of 1 GBP. When it comes to cryptocurrency withdrawals, Coinbase charges a fee of 0.0002 BTC for Bitcoin, 0.000768 ETH for Ethereum, 0.008 SOL for Solana, and 3.55 USDT for ERC-20 Tether.
Comparing the withdrawal methods offered by Digital Surge and Coinbase, we can see that both exchanges provide options for fiat and cryptocurrency withdrawals.
However, Digital Surge is more focused on AUD withdrawals, while Coinbase supports a wider range of fiat currencies such as USD, EUR, and GBP.
In conclusion, Digital Surge and Coinbase are both reputable cryptocurrency exchanges that cater to different regions and user bases.
Digital Surge focuses on the Australian market and offers a user-friendly platform for beginners to buy, sell, and trade over 300 cryptocurrencies.
While it may be a smaller company, Digital Surge prioritises simplicity, security, and customer support to ensure a seamless experience for its Australian users.
On the other hand, Coinbase is a leading exchange in the US and Europe with over 100 million users. It offers a wide range of services, including spot trading, lending, borrowing, staking, an NFT marketplace, and educational programs.
Coinbase's advanced trading platform, Coinbase Pro, provides additional features and lower fees, making it attractive for both retail and institutional investors.
In terms of mobile accessibility, both Digital Surge and Coinbase have apps available on Android and iOS devices.
While Digital Surge has over 5,000 downloads on both platforms, Coinbase has a larger user base with 10 million downloads on Android.
When it comes to trading fees, Digital Surge charges a 0.5% transaction fee on each trade, while Coinbase charges a maker fee of 0.40% and a taker fee of 0.60% for spot trading.
Coinbase also offers the potential for fee discounts if your monthly trade volumes exceed $10,000.
In terms of deposit methods, Digital Surge supports deposits in Australian Dollars (AUD) and offers PayID and POLi as deposit options, while Coinbase supports the worlds biggest fiat currencies in USD, EUR and GBP.
While Digital Surge is a decent local exchange, Coinbase is clearly the winner in this comparison as it offers more products, lower trading fees and offers a more secure environment where people can also earn on their digital assets.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
