Exchange Review

EasyCrypto Review 2021

Team Cryptoradar by Team Cryptoradar

Updated: Dec 23, 2023

Easy Crypto is a simple, elegant, and user-friendly, New Zealand-based cryptocurrency exchange that allows customers from Australia, Brazil, New Zealand, and South Africa to buy more than 40 digital currencies.

History of Easy Crypto

Easy Crypto was founded by siblings, Janine Grainger and Alan Gringer, in New Zealand and launched in January of 2018. The platform was designed to allow users to buy and sell cryptocurrency instantly and securely.

The team aimed to create the simplest digital currency exchange platform. After Easy Crypto’s early success in New Zealand, the service was expanded to the Australian market, and later on to South Africa.

How to buy crypto on Easy Crypto

Account Setup

Opening an account at Easy Crypto is quite simple and straightforward. Simply browse to the website and click on the ‘Create Account’ tab, then select either of the following options:

  • Sign in with Google
  • Sign in with Facebook
  • Sign in with Twitter
  • Sign in with Email

Verification & Limits

Being a regulated exchange, Easy Crypto requires you to submit verification documents that are in line with KYC guidelines before making a deposit. All you need for this part of the process is to upload a photo of your ID document and you’re good to go.

Once you have uploaded your document, navigate the top menu, click on 'My Account’, and select 'Verification'. Upon verification, you will now be able to fund your account.

This basic verification allows you to conduct daily transactions of up to 25,000 AUD. If you would like to increase this limit to 100,000 AUD+ you are required to complete a more detailed verification process.

Deposit Funds

Australian customers can deposit funds to your Easy CryptoCrypro through the following payment methods:

  • POLI
  • Direct Bank Transfers

The fastest ways to fund your account is through POLi payments. They are incredibly simple - a payment notification happens instantly, and it takes only a few minutes to complete the transaction. Bank transfers, on the other hand, usually take one business day.

Instant Buy & Sell

Once your funds have been deposited into your Easy Crypto account, you can now begin trading. For purchases of cryptocurrency, select the type of crypto you wish to buy, review the details then click on 'Buy Now'.

Auto Buy

Alternatively and quite uniquely, you can buy cryptocurrency automatically and on a regular basis to dollar-cost-average your investment. You can even buy many different cryptocurrencies at the same time by defining ratios for your auto-buy order.

With Auto-buys set up, every time you transfer money to Easy Crypto, your incoming payment will automatically be invested in cryptocurrency. Simply set up a regular wire transfer in your online banking, and you’re good to go.

Complete your order

To complete your order, you need to provide a wallet address and payment method and confirm your order on the review screen.

Fees and Limits

Fees are an important factor to consider when selecting a cryptocurrency exchange, especially when you are dealing with large amounts.

Easy Crypto usually charges a fee between 0.5% and 2% depending on the cryptocurrency.

As for payments, POLi and Bank Transfer transactions are free of charge. New payment options such as NPP will be available in 2021.

Is Easy Crypto Trustworthy?

Easy Crypto does not store any of its users’ financial information, which means that you remain in full control at all times. Easy Crypto even guarantees 100 percent security of your deposits once they have been credited to your account.

The platform has taken very specific security measures, including:

  • Registeration with AUSTRAC and compliance with AML/KYC requirements (AUSTRAC is an Australian governmental agency that has the mandate to enforce financial laws to oversee nefarious activity such as terrorism financing, money laundering, and cybercrimes)
  • The option to deposit digital currency directly to a cold-storage hardware linked to your account
  • 2-Step Authentication whenever a user is accessing or transacting on their account. This additional security layer makes it a lot harder for hackers or imposters to compromise or even access the user’s account and make a withdrawal.

Conclusion

Easy Crypto is an easy-to-use platform to buy and sell cryptocurrencies if you are a resident of Australia, New Zealand or South Africa.

The exchange has also taken up several measures to ensure the safety of its users and to prevent undue loss. Overall the platform is safe, fast, and offers competitive rates. The only downside of Easy Crypto is that it does not include an own wallet service, which makes it a bit harder for newbies to get started.
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