If you're searching for a reliable and user-friendly cryptocurrency exchange, then you might be intrigued by Easy Crypto. In this review, we'll dive into the key features of this platform, including trading fees, product range, customer support, and more. By the time you finish reading, you'll have a better sense of whether Easy Crypto is the right choice for your digital asset needs!
Easy Crypto is a beginner-friendly cryptocurrency exchange platform founded in New Zealand in 2018 by siblings Janine and Alan Grainger. The company has expanded to operate in Australia, South Africa, and Brazil, and has under 50 employees mainly based in Auckland, New Zealand.
Easy Crypto aims to provide its users with a well-designed interface where they can easily buy and sell cryptocurrencies. The platform is estimated to have over 100,000 users and is not competing on the range of features but on simplicity in order to appeal to novice crypto investors.
Easy Crypto supports a decent range of 160 cryptocurrencies like Bitcoin, Ethereum, Solana, Algorand, Cosmos, and other well-known coins. Despite being a smaller exchange, Easy Crypto is a great option for beginners looking for a user-friendly platform to start trading cryptocurrencies.
Easy Crypto Signup & KYC
To sign up for Easy Crypto, users can choose to sign up using their Gmail, Facebook, or a regular email. Once the account has been created, users must undergo KYC verification before they can begin trading.
Easy Crypto requires all users to undergo a KYC process and no trading can occur without first receiving approval. The KYC process takes approximately 5 minutes and users are required to provide their full name, date of birth, phone number, and a valid government ID.
Once all the necessary information has been provided, the verification process can take up to a few hours.
Easy Crypto Products & Services
Easy Crypto is an exchange that offers basic buy and sell services for over 160 well-known cryptocurrencies, including BTC, ETH, SOL, ALGO, and AVAX. The exchange also has a recurring purchase option for users who want to automate their purchases and dollar cost average their way into positions.
Additionally, Easy Crypto has an OTC desk available for those who wish to conduct larger purchases. The user experience on Easy Crypto is well-designed and simple to use, specifically designed to appeal to new users who may be intimidated by more traditional crypto exchanges.
The team has done a great job designing an easy-to-navigate interface, making it very beginner-friendly. Overall, Easy Crypto is a great starting point for those who are new to cryptocurrency investing and want a simple and easy way to buy and sell a variety of cryptocurrencies.
However, for slightly moreexperienced users, the limited product range is most likely not going to be sufficient to satisfy their needs.
When it comes to trading fees, Easy Crypto charges a swap fee on each that that occurs on their platform. The exchange is a bit vague as it's not clearly states on their website how high this swap fee is.
Having said that, we have found out that the swap fee is roughly 0.7%-0.9% of the transaction cost when users buy or sell on the website. This is quite a high fee to be paying for a basic service that is limited to buy and selling of cryptocurrencies.
Easy Crypto does offers some discounts based on lifetime spends on the exchange with a minimum threshold of $1,000 resulting in a 5% discount. This however does not change the fact that the starting point is too high (in our opinion) to begin with.
Instead of allowing direct fiat deposits, Easy Crypto users can buy cryptocurrencies with four different fiat currencies, NZD, AUD, BRL, and ZAR.
To purchase cryptocurrencies, users can choose from several deposit methods, including Account2Account with a $0.50 fee, POLi Pay with a 1% fee up to $3, debit/credit card with a 2.6% + $0.34 fee, and bank transfer, which is free of charge.
While Easy Crypto may not offer traditional fiat deposits like other exchanges, their approach caters to users from specific countries and provides a range of deposit options to suit their needs.
The lack of direct fiat deposits may be a drawback for some users, but the ability to purchase cryptocurrencies with local currencies may be a significant advantage for others.
Easy Crypto Withdrawal Methods
For users who wish to withdraw funds from Easy Crypto, they will simply have to create a sell order for the cryptocurrency that they wish to sell. The user will then see a confirmation page which will highlight that the money will be sent to the connected bank.
If no bank has been selected, the users will be prompted to provide a bank account. And for those that wish to change their bank account, they can do so in their My account -> Details -> Bank Account.
Easy Crypto is a good option for total beginners looking for a straightforward exchange to buy and sell cryptocurrencies.
With over 100,000 registered users, Easy Crypto supports 160 popular cryptocurrencies, such as Bitcoin, Ethereum, Solana and others. Easy Crypto also offers a recurring purchase option for those who want to automate their trades. Besides these two features, there is no much else that users can do on Easy Crypto.
When it comes to trading fees, Easy Crypto charges swap fees on each transaction which range from 0.7% to 0.9%. These fees are up to 10 times higher than more cost efficient exchanges on the market.
So why should anyone use Easy Crypto with trading fees this high? Well, the platform's well-designed interface is incredibly user-friendly, with a simple verification process that takes just a few hours.
However, the higher trading fees and limited range of products will not be sufficient to satisfy the needs of slightly more experienced crypto investors.
Easy Crypto is somewhat of a stepping stone where beginners can quickly and easily get started with cryptocurrencies. As their learning curve increases, they will quickly find cheaper and more versatile exchanges on the market.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal.
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.