What Is Crypto Exchange ?
A cryptocurrency exchange, sometimes known as a crypto exchange, is a digital platform where people can buy, sell, and trade different cryptocurrencies. It operates similarly to traditional stock exchanges, except that instead of trading stocks and other financial assets, users trade cryptocurrencies such as Bitcoin, Ethereum, Ripple, and others.
Users register for accounts on the exchange platform by submitting identification and personal information. Some exchanges may necessitate a verification process to assure regulatory compliance.
Users can deposit their native cash or other cryptocurrencies into their exchange accounts after registering. These funds will be used to purchase cryptocurrencies. Users can make purchase or sell orders for various cryptocurrencies once funds are available. They can specify the price at which they are willing to purchase or sell, and their orders are matched with those of other platform users.
The order matching mechanism of the exchange pairs purchase and sell orders based on the stated price and other variables. A transaction is conducted when a buy order matches a sell order, and the respective cryptocurrencies are exchanged between the parties.
What Is Independent Reserve Crypto Exchange ?
Independent Reserve is a centralized exchange based in Sydney Australia. It supports AUD, NZD, and USD fiat pairs and OTC. It is regulated by AUSTRAC under the Anti Money Laundering Counter-Terrorism Financing Act 2018. Its geographical focus is on Australia, New Zealand. and Singapore. Citizens from 30+ countries are permitted to join.
Independent Reserve Crypto Exchange Quick Facts
| Exchange Name | Independent Reserve |
| Exchange Service | Spot and futures trading |
| Exchange Launch Year | October 2013 |
| Made In | Australia, New Zealand. and Singapore |
| Mobile App | Android & IOS |
| Fiat Option | Available |
| KYC | Required |
| 2FA Security | Available |
| Referral Program | Not Allowed |
| Support | Email & Live Chat Option Available |
| Official Website | Click Here To Visit |
How To Register At Independent Reserve Exchange?
To register on Independent Reserve, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.
You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.
Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.
Independent Reserve Exchange Supported Countries
Independent Reserve Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.
Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Independent Reserve.
How To Verify Your Independent Reserve Cryptocurrency Account ?
There is no mandatory verification at Independent Reserve, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.
For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Independent Reserve, Revolut platforms.
How To Buy Crypto Or Deposit Crypto At Independent Reserve Crypto Exchange?
There are two main options for topping up your balance on Independent Reserve. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.
Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.
After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.
Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.
Second Method
You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:
- Go to the “Deposit” section from the “Assets” menu.
- From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
- The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
- You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.
How To Withdraw Crypto Asset From Independent Reserve Exchange ?
Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.
Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.
How To Secure Your Independent Reserve Account ?
There are several steps you can take to help secure your Independent Reserve account and protect your funds:
- Strong and Unique Passwords: For your Independent Reserve account, choose a strong and unique password. A strong password consists of a combination of uppercase and lowercase letters, numbers, and special characters. Avoid using information that is easily guessed, such as your name, birthdate, or common words.
- Two-Factor Authentication (2FA): To add an extra degree of security, enable two-factor authentication. This usually entails receiving a verification number on your mobile device or via email, which you must enter alongside your password when signing in.
- Secure Email: Make sure the email address linked with your Independent Reserve account is protected. Use a strong password for your email account and, if possible, enable 2FA. Someone who gains access to your email account may use it to reset your account passwords.
- Device Security: Only use trusted devices to access your Independent Reserve account, and keep those devices up to current with the latest security patches and upgrades. Use public computers or shared devices as little as possible.
- Anti-Malware Software: To protect against malware that could compromise your account, install trusted anti-malware and antivirus software on your devices.
- Phishing Alert: Be wary of phishing efforts. Clicking on links or downloading attachments from dubious or unwanted emails is not recommended. Before taking any action, always confirm the validity of any correspondence.
- By taking these steps, you can help protect your Independent Reserve account and reduce the risk of unauthorized access to your funds.
Fees taken when buying virtual currency
Trade On Go Independent Reserve Is 100% Mobile Friendly
Independent Reserve Exchange offers a mobile application for both iOS and Android smartphones. Users can use the mobile application to access the exchange’s services, such as buying and selling cryptocurrencies, managing their accounts, and tracking their trading actions while on the go.
The mobile app offers an intuitive interface that is built for mobile devices, making it simple to access and use. It also offers real-time price charts, order books, and trading history, enabling users to stay up to current on market trends and make informed trading decisions.
To get the Independent Reserve mobile app, go to your device’s App Store or Google Play Store and search for “Independent Reserve.” After downloading and installing the app, you can log in to your Independent Reserve account and begin utilizing the exchange’s mobile services.
How To Contact Independent Reserve Customer Support Team?
If you need help with your Independent Reserve account or have any questions, you can contact Independent Reserve customer support through the following methods:
Go to the Official Site: Go to the official website of the Independent Reserve. Contact information can be found on the “Contact Us” or “Support” pages. This page usually includes information on how to contact their customer service team.
Email: Look for an email address for customer service inquiries. You can send an email to the specified email address detailing your problem or concern.
Phone: Determine whether they have a customer service phone number displayed on their website. If they do, you can phone the number and speak directly with a customer support representative.
Live Chat : Some websites provide live chat support. If Independent Reserve offers this service, you may notice a live chat button on their website that you may use to start a real-time conversation with a support agent.
No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that Independent Reserve customer support can assist you efficiently.
Features Of Independent Reserve Crypto Exchange
Buy and sell crypto
There are simple and advanced ways for you to buy and sell crypto. Available order types include simple, market, limit, and advanced “stop buy” and “stop sell”.
Portfolio tracking
View real-time market updates with simple tracking interface.
AutoTrader (DCA)
Automate your crypto investments with strategies that allow you to dollar-cost average (DCA).
Multi-currency trading
Buy and sell crypto with AUD, NZD, SGD or USD. offer instant deposits in Australia.
Secure
We’ve built world-class operational systems to secure your data and crypto: two-factor authentication, email alerts, and encryption. conduct regular penetration testing to ensure the integrity of our systems.
Segregated funds
The customer funds are held separately from our company’s operational funds. We do not use customer assets and funds for investments. We just hold it for when you need it.
24/7 support
Whether you’re a novice or an expert, if you need assistance, our dedicated team is here to help you 24/7.
Independent Reserve Good Or Bad Points
Independent Reserve is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using Independent Reserve:
Good points:
- Security: Independent Reserve is well-known for its significant emphasis on security. They use a variety of security methods, including cold storage for the majority of their cash, two-factor authentication (2FA), and frequent security audits.
- Regulation & Compliance: Independent Reserve follows Australian rules and has AML (Anti-Money Laundering) and KYC (Know Your Customer) processes in place. This might give users trust in the legitimacy of the transaction.
- User-Friendly Interface: The platform has received widespread recognition for its user-friendly interface, which makes it reasonably simple for both novice and expert traders to navigate and execute transactions.
- Cryptocurrency Selection: Independent Reserve provides a good selection of cryptocurrencies for trading, including some of the big ones like Bitcoin and Ethereum, as well as a few altcoins.
- Liquidity : Independent Reserve, as one of Australia’s most established exchanges, has strong liquidity for trading multiple cryptocurrencies, which can result in more competitive pricing and better trading experiences.
Bad points:
- Geographic Restrictions: Independent Reserve primarily serves consumers in Australia and a few other specified nations. This limited availability may be a detriment to users outside of certain regions who wish to use the site.
- Limited Altcoin Selection : Independent Reserve does provide a variety of cryptocurrencies, however it may have less alternatives when compared to major global exchanges. This could be a disadvantage if you want to trade a large range of altcoins.
- Fees: Independent Reserve, like most exchanges, charges fees for trades. While the cost structure may be affordable for some users, you should always check rates with other exchanges to verify you’re receiving the best deal.
- Customer Service: While some customers have reported great experiences with customer service, others have observed delays or difficulties in receiving assistance when needed. This is a typical issue in the cryptocurrency trading community.
- Mobile App: There were varied opinions concerning the quality and functionality of Independent Reserve’s mobile app at the time of my previous update. If you intend to trade on the go, you must check that the app fulfills your needs.
Is Independent Reserve Is Safe Platform To Trade ?
Examine the platform’s security practices, such as cold storage for most cash, two-factor authentication (2FA), encryption techniques, and frequent security audits. Check to see if the platform is regulated by appropriate authorities in the country in which it operates. Regulatory oversight can provide an additional layer of security.
Online, look for user reviews and feedback. Take note of any reports of hacking, outage, or withdrawal concerns. Keep in mind, however, that not all reviews are legitimate or unbiased. A trustworthy platform should be open about its personnel, operations, fees, and conditions of service.
Some exchanges provide insurance coverage to users in the event of a security breach. This can provide an additional layer of security. Prompt and competent customer service can help you resolve issues fast.