What is Independent Reserve?
Independent Reserve is a prominent cryptocurrency exchange based in Australia, having been established in 2013. With a customer base exceeding 100,000 from Australia and New Zealand, the exchange emphasizes its commitment to institutionalizing the Digital Currency industry.
Regulatory Compliance and Industry Certifications
The exchange holds a Gold Certified membership with the Australian Digital Commerce Association (ADCA), underscoring its dedication to industry standards. Collaborating with both ADCA and AUSTRAC (Australian Transaction Reports and Analysis Centre), Independent Reserve actively participated in developing a regulatory framework for the cryptocurrency exchange sector.
Airmarshal™ Platform Technology
Powering the exchange is Independent Reserve's proprietary Airmarshal™ platform. This technology boasts a secure, robust, and scalable system for seamless cryptocurrency trading.
Mobile Trading App
Independent Reserve provides a user-friendly mobile trading app compatible with iOS and Android devices. Offering convenience for both beginners and experienced traders, the app enables buying, selling, and portfolio tracking with quick and secure trades.
Restrictions for US Investors
It's worth noting that US investors may not trade on Independent Reserve. If you are a US investor, alternative exchanges compatible with your location need to be considered.
Special Features: Cryptocurrency Tax Estimator and OTC-Desk
Independent Reserve introduces two noteworthy features - the Cryptocurrency Tax Estimator and the Independent Reserve OTC-desk. The KPMG-developed crypto tax estimator seamlessly integrates into the user interface, allowing traders to estimate tax obligations in real-time. The OTC-desk provides a secure and private over-the-counter trading option.
Trading Fees: Flat Fee Model
The exchange operates on a "flat fee model," where both takers and makers are charged the same rate. Independent Reserve imposes a flat trading fee of 0.50%. This fee structure may appeal to investors who prefer simplicity or seek to pick up existing orders from the order book.
Volume Discounts for High Volume Traders
While maintaining a flat fee, Independent Reserve also offers discounts for high-volume traders, incentivizing increased trading activity.
Competitive Withdrawal Fees
Withdrawal fees on Independent Reserve are notably competitive, particularly for Bitcoin (BTC) withdrawals. Charging only 0.0003 BTC, this fee is significantly below the global industry average of 0.000812 BTC, making it an attractive option for cost-conscious traders.
Deposit Methods
Independent Reserve supports wire transfers as a deposit method, catering to individuals without prior cryptocurrency holdings. Additionally, the exchange facilitates international deposits through SWIFT-transfers, enhancing accessibility for traders worldwide.
What are the trading fees on Independent Reserve?
-Deposits under AUD 100 incur an AUD 0.99 processing fee. Free USD and NZD deposits on amounts above NZD 100.
-Trading fees starting at 0.5 % down to 0,02.
-Free EFT bank withdrawals.
Does Independent Reserve offer leverage trading?
Independent Reserve does not currently offer margin trading or leverage options.
Is Independent Reserve safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
