INDEPENDENT RESERVE REVIEW

Rating

(96 User Ratings)

Currencies

Australian Dollar (AUD)ūüá¶ūüáļ

Available Cryptocurrencies

Available 270 Cryptocurrencies

Table of Contents

As of 2020, Independent Reserve is among the best sites for Australian traders to sell, buy, and trade various virtual assets, including Bitcoin, Ethereum’s Ether, and many more. You surely are getting into one of the most preferred cryptocurrency exchanges here, and you can experience trading with sheer confidence. Do you want to learn more about Independent Reserve? Continue reading to find out how you can get the best cryptocurrency trading experiences!

PROS
  1. Regulation and Compliance: Independent Reserve is a regulated cryptocurrency exchange in Australia, providing a level of trust and assurance to users concerned about legal and regulatory compliance.

  2. Fiat Support: Independent Reserve allows users to deposit and withdraw funds in various fiat currencies, including AUD, USD, and NZD.

  3. Range of Cryptocurrencies: The platform supports a variety of cryptocurrencies, including major ones like Bitcoin and Ethereum, as well as several altcoins.

  4. Security Measures: Independent Reserve implements security features such as two-factor authentication (2FA) and cold storage for the majority of user funds, contributing to the overall security of the platform.

  5. User Interface: Many users find the platform’s interface to be clean, intuitive, and user-friendly.

  6. OTC Trading Desk: Independent Reserve provides an over-the-counter (OTC) trading desk for users looking to execute large trades with minimal slippage.

CONS
  1. Limited Cryptocurrency Options: While Independent Reserve supports a variety of cryptocurrencies, the selection may be more limited compared to some larger international exchanges.

  2. Geographic Availability: Independent Reserve primarily focuses on the Australian and New Zealand markets. While it may be advantageous for users in these regions, it may not offer the same global reach as some other exchanges.

  3. Fees: Some users may find the trading fees on Independent Reserve to be higher compared to other exchanges, especially for smaller trades.

  4. Limited Payment Methods: The availability of payment methods might be more limited compared to exchanges in other regions. It’s essential to check which payment methods are supported based on your location.

  5. Mobile App Features: While Independent Reserve does offer a mobile app, some users have reported that the mobile app lacks certain features available on the web platform.

Background Information about the Digital Currency Trading Platform

  • Adrian Przelozny and Adam Tepper recognised the significance of Bitcoin ever since it got launched in the cryptocurrency scene. The digital platforms and security specialists believed that there was a need for a virtual currency exchange that facilitates easy comprehension as well as seamless trading and utilisation of digital assets. Thus, Tepper and Przelozny launched¬†Independent Reserve¬†in October 2013.
  • The pro-regulation and decentralised virtual currency exchange has its headquarters located in Sydney, Australia.¬†Independent Reserve¬†concentrates on security and trust. Also, it supports over-the-counter or OTC trading, as well as the US Dollar, Australian Dollar, and New Zealand Dollar fiat pairs. Aside from Australia,¬†Independent Reserve‚Äôs¬†geographical foci are New Zealand and Singapore. Citizens from more than 30 territories can buy and sell their cryptocurrencies in this virtual currency trading site.
  • Przelozny and Tepper aimed for¬†Independent Reserve¬†to become the premier digital currency exchange in Australia ultimately. As of 2020, the platform has achieved many milestones since its launch seven years ago. In February 2019, the cryptocurrency exchange became the first-ever platform in Australia to offer insurance coverage to their customers.¬†Independent Reserve¬†provides Application Programming Interface or API trading, a KPMG tax calculator, Bloomberg price feeds, and an auto trading platform as well.
  • Then, in January 2020, the cryptocurrency exchange opened for business in Singapore.¬†Independent Reserve¬†targets to become a licenced operator under the Monetary Authority of Singapore or MAS.

6 Advantages of Trading Cryptocurrencies at Independent Reserve

Since Independent Reserve has been in operation, it has grown into one of the leading and most preferred cryptocurrency exchanges in Australia. The following benefits are what you can enjoy when you join this trading platform:

1.It offers security.

Independent Reserve features geographically dispersed and encrypted data centres. Also, you get protection via its top-tier underground vaults that safeguard your personal and financial information and cryptocurrencies.

Moreover, Independent Reserve complies with mandatory Know Your Customer or KYC rules. It is under the regulation of the Australian Transaction Reports and Analysis Centre or AUSTRAC  and the Anti Money Laundering Counter-Terrorism Financing Act 2018 as well.

2.It allows deposits using more than one currency.

Independent Reserve facilitates deposits using Australian Dollar, US Dollar, and New Zealand Dollar. This benefit aids you in avoiding currency exchange charges.

3.It is insured.

The Sydney-based cryptocurrency exchange is the first-ever cryptocurrency exchange in Australia that has insurance coverage on it.

4.It caters to various kinds of clients.

Since its opening in 2013, the Australian virtual currency exchange has earned the trust of its over 150,000 customers. Among its clients are everyday consumers and enterprises. Plus, Independent Reserve serves more than 8,000 self-managed superannuation funds or SMSFs.

5.It allows fast and confident cryptocurrency trading.

Independent Reserve lets you purchase or sell virtual assets quickly and with certainty. You can enjoy depositing 24/7 via POLi and Osko. Plus, you can utilise the Australian Dollar, New Zealand Dollar, and the US Dollar through SWIFT and electronic funds transfer or EFT when trading.

  1. It offers many trading features.

The Australian cryptocurrency exchange provides traders with many various kinds of helpful features like a tax estimator tool.

As you can see, with Independent Reserve, you can relish plenty of benefits. These advantages permit you to enjoy your trading sessions and make the cryptocurrency exchange your dependable trading platform.

3 Easy Steps to Follow to Start Trading at Independent Reserve

If you have decided to try trading at Independent Reserve, we guarantee that you have made the right decision. You can begin your fulfilling experience by performing these three simple and easy-to-follow steps:

1.Create your account.

You can begin trading soon by first registering. You need to input your preferred username on the form field as well as your selected password.

2.Deposit your money.

You can deposit your funds at Independent Reserve utilising EFT and SWIFT. Also, you can make instant deposits using PayID or Osko and POLi. The virtual currency exchange accepts Australian Dollar, US Dollar, and New Zealand Dollar.

3.Commence trading cryptocurrencies.

You can start trading in as fast as five minutes with instant deposits and FastTrack.

As you can see, with these three simple steps, you do not really have to feel anxious when you begin your trading journey at Independent Reserve. So open an account today!

FREQUENTLY ASKED QUESTIONS

You can find a help section at Independent Reserve. Plus, it has a support portion where traders like you can reach out to the customer service team.

At Independent Reserve, the verification process is similar to most digital currency exchanges. You will get prompted to upload images of your identification documents. Also, depending on your country of residence, authentication will frequently be instant once your credentials have got uploaded. With Independent Reserve, you may be eligible for a FastTrack account if you are an Australian national. This kind of account permits you to sign up, deposit, and begin trading in as fast as five minutes.

As of 2020, there is no Independent Reserve application created yet. However, the digital currency platform is responsive. Plus, it is mobile-friendly and works on both smartphones and desktop computers.

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