Independent Reserve Review
The global outlook of financial systems in the world has in recent times evolved from what they used to be. This is in response to the ever-dynamic and progressive technological advancement which has influenced every sector of human life. The world has in recent years gone digital and this has found its way into monetary and economic issues. Digital assets are now a popular means of storing wealth and cryptocurrency is currently trending in world market topics. With the current development of cryptocurrency, it is projected to replace fiat currency in the coming years. The advent of cryptocurrency has also led to the development and establishment of crypto exchanges just like currencies brought about the formation of the foreign exchange market. These exchanges make up the crypto market which encompasses the buying and selling of crypto assets.
Crypto exchanges are important because they are platforms through which individuals and institutions can trade within the market as they are means through which crypto trade can be conducted successfully. Presently there are numerous crypto platforms where the buying and selling of these digital assets are supported and each of these platforms comes with its peculiarities. One good crypto exchange that is highly affiliated with the region of Australia and New Zealand is the Independent Reserve exchange. The relevance of these platforms to the cryptomarket cannot be undermined as they play a strategic role in bringing buyers and sellers together. In addition to this, crypto exchanges can be centralized or decentralized, regulated or deregulated, as well as global or regional franchises. All the different categories of these platforms come with their benefits and good sides thus allowing users to choose their desired exchange.
A centralized exchange system is an older form of the crypto platform which employs third parties such as banks and other financial institutions in terms of keeping and allowing transactions involving digital assets. Decentralized systems have been quickly adopted because it eliminates the need for third parties thus giving the individual full rights over his crypto assets. The Independent Reserve exchange is a centralized exchange that has over the years satisfied the needs of its users and has provided a platform for the safe and secure buying and selling of digital assets. Within the context of this review, valuable information which would be beneficial to your crypto trading journey on this platform would be disclosed in detail.
| Exchange platform | Independent Reserve |
| Website | independent reserve.com |
| Variety token | 26 |
| Account needed | Yes |
| Verification | Yes |
| Verification levels | Two |
| Trading platform payments | Bank transfers, crypto wallets |
| Customer support | Email, Twitter, Reddit, Facebook |
What is an Independent Reserve Exchange?
For crypto trading platforms, the length of operations in terms of months and years contribute majorly to the credibility of the firm as investors can easily trust a platform with a track record of continuity. This single fact makes the Independent Reserve exchange a unique platform as it is one of the first crypto exchanges to be established in Australia. The platform has been in operation for over eight years as it was founded in 2013 and since then, it has been dedicated to providing a convenient trading environment for residents of Australia and global crypto enthusiasts. It is a crypto exchange that is based in Australia and currently has over two hundred thousand individual users and about eight thousand SMSF accounts, a testimony of how progressive it has been at meeting the investment and financial needs of its users.
Presently, the region of Australia recognizes the exchange as one of the best, and even though it is not regulated, its close affiliation with ADCA, a well-known authority in digital asset management, grants it a high level of credibility and trustworthiness. In addition to this, the firm as it is based in Australia is confined to the financial laws of the region and this stands as a form of regulation. The focus of this platform is to establish Australia’s most trusted and secure means of trading in cryptocurrencies, especially the popular ones like Bitcoin and Ethereum. The exchanges also aim at transforming cryptocurrency technology available into the provision of transaction and financial services that can be trusted and are reliable. From being a regional brand, this exchange has grown and expanded over the years into becoming a global franchise as it can be used in every region of the world. Transactions can now be carried out on the platform by users from various countries of the world including New Zealand, Canada, Norway, Japan, Switzerland, Spain, and the United Kingdom thus affirming its global status.
Over the years, the platform has proven that the best choice for a crypto investor is to trade on the exchange to ensure maximum security and guarantee market success. For the benefit of its users, the platform utilizes technologies from a firm known as Airmarshal which provides enhanced security for the trading platform. On this platform, crypto investors are therefore assured of conducting transactions in a secure, safe and convenient trading environment.
Independent Reserve Exchange Trading Services
Most crypto investors use exchanges that offer various benefits and services that boost their trading abilities and chances of market success. This explains the influx of investors who use the Independent Reserve exchange as it offers several trading services unique to the platform. The crypto trading platform is known to offer about twenty-six different tokens from which gives investors a large pool of tokens to select and invest in thus expanding their trading options. A great thing about this exchange is that there are certain trading services offered only on the platform and this gives it an edge over similar exchanges. One of such services is the AutoTrader feature which allows users to utilize automated trading strategies that are available on the platform’s library. This feature is very helpful for new crypto investors as it enlightens them on the operations of the crypto market, increasing their understanding of trading in general and helping them develop their profitable market strategies.
Another feature of authenticity that favors large institutions is the OTC (Over-the-counter) option which permits for investments in large amounts ranging from hundreds of thousands to millions of dollars to be undertaken conveniently, successfully, and effectively. For institutions, it is highly essential as it helps to avoid slippage when investing large funds thus helping them save more. In addition to this, the OTC desk is always available during the week and comprises seasoned professionals and experts who provide step-by-step support to institutional investors.
Furthermore, users can utilize the tax estimator feature which allows traders to calculate and estimate how much tax is to be paid on the crypto investments in your portfolio. This feature which is unique to the platform helps users to remit their taxes accurately on crypto investments they own. For premium account owners, there is a hack insurance option that protects their crypto assets from loss resulting from a breach in physical security measures and theft orchestrated by employees. Several plans involving this insurance of digital assets are available for premium account owners and this among other features gives the crypto exchange an edge over similar trading platforms.
The crypto trading platform also runs a referral/affiliate program through which existing users can earn by inviting new users to the platform. The referrer earns about 50% of the fees paid by those referred for the first ninety days. The commission earned by the referrer is paid instantly once a trade is conducted and you can monitor the number of customers referred and the earnings accumulated over time.
How Does The Independent Reserve Exchange Work?
Other crypto exchanges make crypto trading and investing look cumbersome and tiring but on this platform, users are encouraged to carry out transactions as trading is made to appear effortless. For you to trade on this platform, there are certain steps to be taken which would ensure that your transactions on the platform are safe, secure, and convenient. The first thing to be done is to have an account on the platform which involves the submission of a username, the creation of a password, and submission of referral code if available. The second stage brings the new user to the point where certain personal details would be required. These details include full names, date of birth, and some other information that most people might be hesitant to provide.
However, these details have to be provided for the security of the account and to ensure that the account is owned by a real person and not a robot, thus increasing the level of security of the platform and reducing the risks of scams and thefts. After the provision of that personal information, you would also be required to submit a valid means of identification which would undergo verification. It is in this second stage that you get to choose the kind of account you want to trade with, each one coming with certain requirements and benefits. There are different accounts from which you can choose from which include a FastTrack account, Company account, and Trust account. Upon the submission of the details provided in the second stage, the provided information is then subjected to thorough verification to ascertain its authenticity. Once the verification is complete, the account becomes a valid one that can be used for making deposits and placing trades.
To further secure your account, there is a need for a two-factor authentification that would protect your account from unauthorized access. Once this authentication feature is activated, it is advisable to keep your code or password away from prying eyes and to be reminded that the platform’s support team would never demand it. The next step for a verified account is to go on to make deposits which can be in the form of fiat currencies, through bank transfers or cryptocurrency disbursed from a crypto wallet.
Withdrawals and Deposit Fees
Different crypto exchanges have several fees which they charge and the schedule which they follow. Most crypto investors prefer platforms with low fees involved as this would enable them to make more profit on their trades. Trade fees on this platform are dependent on the crypto token being traded and the outlook of the price market then. However, the trade commission received by the exchange on successful transactions can go as low as 0.02% which is relatively low when compared to other similar platforms.
This implies that the platform encourages users to trade more volumes of tokens as the fees that trading transactions attract are relatively little. It also contributes to the number of users the platform has in the region of Australia and on a global scale.
As for deposits on the platforms, there are certain cases where fees are attracted for making deposits. The exchange is a multi-currency platform and therefore it accepts other currencies aside from the AUD for deposits. For deposits of AUD 100 and above, there are no fees attached. While international deposits of $5000 and above in NZD and USD are free but for smaller sums, there is a $15 processing fee attached. However, for crypto deposits, there are no charges as it is completely free. Most users of this platform, therefore, prefer making deposits in crypto, especially those living outside the region of Australia and in other parts of the world.
Withdrawals on this platform are also dependent on the token or fiat currency being withdrawn as different tokens and currencies attract different charges on withdrawals. For every withdrawal in AUD, there is no fee attached. In the case of withdrawals in international or foreign currencies, there is a payment of the sum of $20.00 and this is why most foreign crypto traders on this platform seldom withdraw in fiat currencies. For cryptocurrencies, popular tokens like Bitcoin, Ethereum, Ripple, Cardano, and Aave attract 0.0003 BTC, 0.005 ETH, 0.15 XRP, ADA 0.5, and 0.15 AAVE respectively. When placed beside other exchanges, these withdrawal fees for these tokens are relatively low and this encourages transactions and continued trading on the platform
Independent Reserve Exchange Interface
In today’s financial system, the interface of a trading platform is quite strategic as it contributes to how much the platform is used and the number of investors it has. For the Independent Reserve exchange, the goal is to create a trading experience second to none other and so the platform operates with an interface that is easy to understand and navigate. The aim is to make the whole trading activity less complicated and easy to manage thus encouraging individuals to trade more often.
Apart from the trading services and products that the platform offers, users are also given the chance to upgrade their knowledge of cryptocurrency through the blog feature present on the exchange. Regular news posts on the blog help to keep its users informed about the happenings and developments in the crypto world. This way, investors are not just made to learn about their trades and tokens but are also made to see the bigger picture as far as crypto trading is concerned.
Independent Reserve Exchange Security
A trading platform that values users’ experience and makes it a priority always takes security as a major issue. It is in this vein that this exchange has gone to great lengths to ensure the security of the accounts and the crypto tokens within their care. Presently, the platform has core servers securely located at two data centers which are of Tier 3 in Sydney, Australia. Between these servers, all important data are shared including real-time info and this is highly effective against data loss.
The trading platform also employs cold storage of crypto tokens and this implies that the majority of the digital assets in their care are stored offline. In addition to this, the exchange helps individuals protect their accounts through the two-factor authentication feature and password suggestion to prevent unlawful entry.
Customer Support
This crypto platform boasts of a rich relationship with its users which comprises a combination of both individuals and institutions. A high level of customer-to-firm relationship helps to increase the credibility of an exchange and this contributes to the number of users the platform enjoys. There are certain means through which users can relate effectively to the platform.
Users’ complaints, questions, inquiries, and clarifications can be forwarded to the platform’s email address and each of these is handled with utmost priority. There are also some products and services for whose inquiries can be forwarded and attended to through emails.
This media is utilized to disseminate relevant information concerning the exchange to its users to ensure that they understand and are part of the developments within the platform. It also serves as an announcement channel to communicate timely news relating to the platform and the crypto world in general.
Customer satisfaction and a warm user experience are a priority for this crypto trading exchange and so it places all the necessary infrastructure to make it happen. It is regarded as one of the best crypto platforms in Australia and is gradually becoming a global brand.
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