Easy Crypto Review – Should You Give This Exchange a Try?

Easy Crypto Review 2022

Easy Crypto has been one of the top exchanges serving Kiwi crypto traders and beyond since 2017. It has stood out in its services, especially in Instant crypto transactions but has also lagged in other areas like trading options, etc.

There is a lot to uncover about this Kiwi exchange, and in this article, we examine its services, including trading fees, security, pros, and cons.

At a Quick Glance

Pug Score4.0/5
Fees (Market Orders)0.95%
Cryptocurrencies Traded100+
Most Suitable ForBeginner and Intermediate Traders

Key Findings

Easy Crypto has solid security and a superb user interface that is user-friendly and well-suited for beginners. The exchange has an operating license in Australia by AUSTRAC and operates in many regions outside Australia.

Easy Crypto allows instant crypto buying and selling using bank transfers and POLi deposits. There are no withdrawal or deposit fees, and users can send purchased cryptocurrencies to external wallets. 

Customer support is above average, and direct contact is usually not feasible. Users may need to look through the platform’s FAQs to resolve queries.

Image Source: Easy Crypto
ProsCons
Security is well above average Slow processing of high-volume transactions
Suitable for beginnersHigh transaction fees
Good customer support
Many altcoins available
Regulated exchange

What is Easy Crypto?

Easy Crypto is a cryptocurrency exchange from New Zealand. It also offers brokerage services to traders from outside the region, allowing them to buy and sell cryptocurrencies instantly and comfortably.

Launched in 2017 by Alan and Janine Grainger, Easy Crypto has grown from being a local crypto exchange to a global brand. In 2021, the company secured an $11.75M Series A funding which pushed it to even more frontiers.

Users on the platform can buy more than 44 different kinds of cryptocurrencies using fiat currencies like NZD, ZAR, and AUD from bank deposits or credit/debit card transfers. 

Additionally, users can transfer cryptocurrencies directly to their Easy Crypto accounts from an external digital wallet or cold “offline” storage.

Easy Crypto prides itself as a safe, easy-to-use, and simple means of selling and purchasing digital currencies such as Bitcoin, Tron, Ethereum, etc. The platform is partially non-custodial and doesn’t store users’ funds or private keys, leaving everything in the total control of users.

Range of Offering

Swaps

The Swap service allows users to swap digital currencies like Ethereum and Bitcoin in one-click execution. Easy Crypto urges users to use this feature because it has additional benefits like cutting transaction prices and reducing timing problems. 

Image Source: Easy Crypto

Auto-Invest

Auto-Invest allows users to set up auto-buy orders to help them make regular transactions instantly. With this feature, Crypto traders have the freedom to select crypto assets and the ratio in which they hope to buy. 

How does this work? Well, for starters, they can choose to buy Bitcoin and Ether in a 1:1 ratio. So whenever traders deposit their funds on the exchange, the system auto-buys the selected cryptocurrency in the pre-chosen ratio. 

Auto-invest is great for investors who need to effectively dollar-cost their chosen digital currencies. However, users must always cross-check their transactions to avoid complications.

Tax Reporting

The Tax Report service is resourceful for Easy Crypto users to calculate their tax returns. The feature provides a tax summary of all user transactions on Easy Crypto. 

However, the figures from the tax report tool are estimates of the real transaction. Users always perform due diligence on their tax reports as Easy Crypto does not guarantee users accurate data.

Trades Tracker

The Tracker tool is useful for recording a user’s trading history on the Easy Crypto platform. It displays users’ overall statistics, including total returns, net fiat currency they invested, and market value of purchases. Tracker is a great way to make sure you don’t go overboard.

Commission and Fee Structure

Easy Crypto has a transparent fee structure with no extra or shadow charges. The platform charges a 0.95% trading fee on all orders users complete on its platform. Meanwhile, this percentage falls to 0.7% depending on the Discount Tier, starting from $1000 expenditure. 

However, users should take note of these Mandatory fees on Easy Crypto:

  • Network Fees: Easy Crypto charges a network when users send crypto funds. However, there are no charges when they withdraw cryptocurrency into their wallets, unlike most crypto platforms and exchanges that charge on both transactions. 
  • Foreign Exchange Fees: Users are charged foreign exchange fees on the Easy Crypto platform. This fee is part of the crypto price they pay when buying.

Ease of Account Opening

One thing Blockpug found interesting about Easy Crypto is its ease of opening and accessing accounts. Getting started on Easy Crypto is quite simple, and users do not have to go through rigorous steps to do so.

To begin transacting on Easy Crypto, users will first need to create a wallet for the specific digital currency they wish to buy. Users may visit Easy Crypto’s online store to purchase their hardware wallets which provide stronger security than the digital wallet.

If your wallet is ready, you may proceed to buy cryptocurrencies with Easy Crypto.

How To Buy Crypto with Easy Crypto?

Buying crypto on the Easy Crypto platform is quite simple and wouldn’t take more than a couple of minutes to complete. But to get started, you need first to create an account with Easy Crypto.

Creating an Easy Crypto Account

  • Visit Easy Crypto and locate the Sign-Up or Create an Account button. You can either do this easily with Google, Facebook or by entering your email. 
  • Verify account by submitting requested documents like passport or a driver’s license. Doing so will allow you to make future crypto and AUD deposits and withdrawals.
  • To complete the verification, click “My Account” then “Verification.” If your verification is successful, you can begin depositing funds to your account with AUD. 

Depositing Funds on Easy Crypto

You may deposit funds via bank transfers or POLi payments, although bank transfers are more common for Kiwis and Aussies. After depositing your fiat funds in your Easy Crypto account, you can begin buying cryptocurrency.

Buying Cryptocurrencies on Easy Crypto

Now you’ve deposited funds into your Easy Crypto fiat wallet, you can choose your preferred cryptocurrency and enter a fiat amount. Ensure to review your order once you complete your selection.

Image Source: Easy Crypto

Reviewing your order means you cross-check if the details you entered correctly. Afterward, click on “Buy Now” to complete the transaction. You’ll see your cryptocurrency in your wallet once the transaction goes through.

Deposit and Withdrawal

Users can deposit and withdraw funds on Easy Crypto easily. Usually, the speed of deposits depends on the crypto asset involved or the mode of deposit. Bank transfers may take from one to three business days to go through, likewise other methods.

Easy Crypto supports POLi Pay, Account2Account, and Bank transfers as its payment methods. After depositing funds, Easy Crypto notifies you of its success. Bear in mind that crypto deposits are much quicker and may take a few minutes or an hour.

User Interface and Trading Experience

The first thing you notice when scrolling through the Easy Crypto website is that it is responsive and user-friendly. The website gives off a sophisticated but basic user interface. 

On the top right-hand side of the homepage, you will find buttons for Buy & Sell, Rates, Tracker, About Us, Sign In, and Sign Up. Overall the website is easy to navigate, and it has white, purple, and black themes to make readability better.

Mobile Application

Easy Crypto does not have a mobile application, nor is there a report of any related work in progress, but we should expect a development in the nearest future. 

Mobile apps add better experiences for traders to buy or sell crypto anywhere. However, Easy Crypto has a desktop version that is also mobile-friendly, and users can access it on Windows or Mac PCs.

Supported Cryptocurrency

Easy Crypto supports more than 100 cryptocurrencies, including popular coins like Ethereum and Bitcoin. The platform also offers tons of hot altcoins on the market. Some of the supported cryptos include BTC, ETH, BNB, LTC, USDC, SOL, etc.

Additionally, Easy Crypto offers users the chance to contact their support team if they wish to buy cryptocurrencies not listed on the exchange. Chances are, they may review and add the currency to their coin list in no time.

Educational Tools

Easy Crypto has comprehensive educational tools that users and visitors can learn more about the platform and the crypto world. 

There’s a variety of learner materials covering different topics that crypto newcomers can explore to learn more about the fantastic world of digital currencies, whether they need to set up a hardware wallet or find out what decentralized finance is all about. 

At the bottom of the page, you can find links to Get Help, Learn About Crypto, Blog, and Careers pages. They can also find tutorials that are incredibly helpful on the frequently asked questions (FAQs).

Customer Support On Easy Crypto

Easy Crypto has a fair customer support system, and its team is on hand to help users through whatever difficulties they experience while dealing on the platform. 

Its customer support team works from as early as 8 am to 8 pm every Monday to Friday. The exchange claims to respond to customers 24/7. 

Alternatively, the FAQ section hosts some of the popular queries and relevant resolutions on Easy Crypto. Users can submit general email inquiries and online support tickets through Easy Crypto’s help center.

Regulation and Security

Security is paramount in the cryptocurrency world, and platforms like Easy Crypto actively make their services safe and secure. Easy Crypto doesn’t store the funds of its users or their private keys.

The platform leaves this sensitive information in the user’s control, reducing the risk of hacking and theft. It guarantees a 100% security of its clients’ funds once it receives their deposit of AUD and other accepted fiats. 

In addition to these, here are some precautions that the platform takes to ensure top security of clients’ funds.

Two Factor Authentication

Two-Factor Authentication or 2FA is a security feature that Easy Crypto offers its users. It makes it impossible for outsiders and potential thieves to access a user’s accounts when in use. 

The 2FA adds an extra layer of security to an account, making it hard for cybercriminals to compromise or gain access to users’ funds. With two-factor authentication, a cybercriminal will need to know your login info and physically access your mobile device to access your account.

AUSTRAC Licensing

The Easy Crypto platform has an operating license from the Australian Transaction Reports and Analysis Centre (AUSTRAC). All platforms that operate with Australia must also comply with KYC/AML requirements or the agency.

Cold Storage/Hardware Wallets

On Easy Crypto, you can choose to make deposits directly into a mobile wallet or a cold-storage wallet linked to your account. This approach means that customers’ digital currencies aren’t held by Easy Crypto, leaving safety measures in users’ custody.

Easy Crypto’s Tiered Verification

Government laws require the platform to fully comply with Know Your Customer (KYC) and AML regulations for trading cryptos. Easy Crypto makes use of a tiered verification process to protect customers and comply with existing laws.

For basic verification, customers will need to submit a valid photo identification document like a Passport or driver’s license and upload a selfie to further prove their identity on the exchange.

Completing Basic verification will increase the user’s daily limit to $10,000 and a total account maximum of around $25,000. However, if you need to increase the account limit to $100,000, Easy Crypto will require you to complete an enhanced verification process.

Is Easy Crypto Safe?

Yes, Easy Crypto is safe and regulated. As of the time of writing, Easy Crypto has no prior history of any major hacks. 

AUSTRAC offers the exchange license and immunity to carry operations in Australia and beyond. AUSTRAC makes sure platforms like Easy Crypto stays within financial laws. 

Conclusion

Easy Crypto is one of the top choices for regulated cryptocurrency exchanges operating in New Zealand and Australia. The platform offers over 90 cryptocurrencies that users can trade, buy, or sell and has an operating license from AUSTRAC.

Although it doesn’t have a mobile application yet, it has a user-friendly website that is easy to navigate with comprehensive features and a range of offerings.

Additionally, joining the exchange or verifying your identity isn’t difficult. In a matter of minutes, you’re up and running on the Easy Crypto platform.

FAQs

Is There An Easy Crypto App?

No, there is no Easy Crypto mobile trading app for customers to buy and sell digital currencies at the time of this writing. However, the desktop version for its website is mobile-friendly, and smartphone users can access it too.

Does Easy Crypto Have Leveraged Trading?

No, Easy Crypto doesn’t have derivatives or futures markets where customers can trade crypto with leverage or margins. As an Australian customer, you may need to look elsewhere as an advanced trader looking to trade in the futures market.

Does Easy Crypto Charge a Fee?

While Easy Crypto doesn’t charge fees for signing up on the platform, making withdrawals, or even doing deposits, it charges other fees like conversion fees, market order fees, etc. 
The exchange charges a trading fee per transaction, depending on a user’s verification tier or trading volume.

Is Easy Crypto Secure?

Easy Crypto exchange appears to offer top security protocols to safeguard users’ funds. It claims to store 90% of assets offline in cold storage and insure user funds on its platform.
Additionally, Easy Crypto has never suffered a vulnerability in the past. This achievement makes it stand as one of the secured exchanges in the industry.

Does Easy Crypto Support US Customers?

US customers may have to look for alternatives as Easy Crypto Exchange does not accept traders from the region due to high demands and policies from the government of US states.

Easy Crypto Review 2022: Is It the Number 1 Crypto Exchange for Kiwis?

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