Independent Reserve

Independent Reserve Review: Is Independent Reserve any good?

Independent Reserve is one of the most popular cryptocurrency trading platforms in the Asia Pacific region. Founded in 2013 in Sydney, Australia, Independent Reserve aims to create a secure and reliable trading platform for investors of all levels.

Independent Reserve has strict financial regulatory oversight in Australia and New Zealand, ensuring users the safety and transparency of its operations. The platform supports trading in a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and other cryptocurrencies. It also has advanced trading features such as spot trading, OTC trading, and API integration, allowing investors to access the cryptocurrency market efficiently.

Overview Is Independent Reserve safe?

Safety measures

• Segregation of Client Assets:The Company clearly separates customer assets from Company assets to prevent unauthorized use.

• 1:1 Asset Reserve:Maintain a full reserve of all clients' digital and cash assets to ensure that they can withdraw their funds whenever they need to.

• Storing Assets in Cold Storage:Store over 97% of your digital assets in highly secure Cold Storage to prevent unauthorized access.

• Two-factor authentication (2FA):Users are required to verify their identity with two factors when logging in to enhance account security.

• External audits and inspections:The Company is audited by external agencies and licensed by the Monetary Authority of Singapore (MAS) to provide digital asset services in Singapore.
  

Additional measures include security alerts, immediate account suspension in the event of unauthorized logins, and encryption of personally identifiable information to prevent unauthorized access.

Licensing and Regulation

If you ask whether Independent Reserve is good or not, you have to start by considering the license factor first, which has the following licenses:

• Australian Securities and Investments Commission (ASIC) License Number ABN46164257069 is the financial regulatory authority in Australia.

Products and services

Trading products

• Cryptocurrencies:Supports trading of over 28 cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and more, including 112 trading pairs.

• Fiat Trading:Supports trading in multiple fiat currencies such as Australian Dollar (AUD), New Zealand Dollar (NZD) and United States Dollar (USD).
   

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• Digital Asset Insurance:Independent Reserve is the first platform in Australia to offer insurance for clients’ digital assets.

• Tax calculator by KPMG:There are tax calculation tools for cryptocurrency trading to facilitate users' tax management.

• Auto Trading Platform:Supports automatic trading settings based on user strategies.

• Price feed from Bloomberg:Provide real-time cryptocurrency price data from Bloomberg for accurate decision making.

• Trading via API:Supports API connection for developers who want to create their own trading bots or programs.

• Regulatory Compliance:Regulated by AUSTRAC under the Anti-Money Laundering and Terrorist Financing Act 2018 and focused on regulatory compliance to build trust and safety for users.

Deposits and Withdrawals

Deposit

• Cryptocurrency:Users can deposit a variety of cryptocurrencies into their account without any fees. The deposit process involves logging into your Independent Reserve account, selecting “Accounts” from the menu, navigating to the “Account Balance” section, and clicking the “Deposit” link corresponding to the cryptocurrencies you wish to deposit. Then, follow the instructions to transfer the cryptocurrencies from your external wallet to your account.

• Fiat Currency (AUD):Deposits via Bank Transfer (EFT) for deposits of AUD 100 or more are free of charge; deposits of less than AUD 100 are subject to a fee of AUD 0.99.
   

Withdrawal

• Cryptocurrency:Users can withdraw their cryptocurrencies to external wallets, subject to a withdrawal fee that depends on the cryptocurrencies withdrawn. The withdrawal process involves logging into your account, selecting “Accounts” from the menu, navigating to the “Account Balance” section, and clicking on the “Withdraw” link corresponding to the cryptocurrencies you wish to withdraw. Then, follow the instructions to transfer the cryptocurrencies to your external wallet.

• Fiat Currency (AUD):Withdrawals via Bank Transfer (EFT) are subject to a fee of AUD 0.99 per withdrawal.

Independent Reserve Review: Fees

• Trading Fees: Starting at 0.5% and decreasing with trading volume. The more you trade, the lower the fee is, as low as 0.02%.

• Deposit Fee:

  • Bank Transfer (AUD): Free for deposits over AUD 100, less than this AUD 0.99.

  • Digital Deposits: No Fees

• Withdrawal Fee:

  • Bank Transfer (AUD): 0.99 AUD per withdrawal

  • Cryptocurrency: Depending on the currency, for example Bitcoin has a specific fee.

Support and Customer Service

• Email : [email protected]

• Live Chat 24 hrs.

Independent Reserve: Pros and Cons

Pros

• High security with 2FA and Cold Storage

• Competitive fees that decrease with trading volume

• Good customer support and educational resources

Cons

• Supports a small number of cryptocurrencies (about 30)

• Advanced trading features are limited

• Lower liquidity compared to other platforms

Independent Reserve Review Summary: Is it any good?

Independent Reserve is a cryptocurrency exchange founded in 2013 in Sydney, Australia. It has a reputation for high security and strict regulatory compliance. The platform supports around 30 major cryptocurrencies and has a trading fee structure that starts at 0.5% and decreases with trading volume. It is suitable for both retail and institutional investors. However, the number of supported cryptocurrencies may be less than some other platforms, and advanced trading features may be limited. Overall, Independent Reserve is a reliable option for those looking for a safe and well-regulated cryptocurrency trading platform.

Frequently asked questions about Independent Reserve

1. Is Independent Reserve safe?
   Independent Reserve has strict security measures such as two-factor authentication (2FA) and cold storage of digital assets, as well as compliance with regulations in Australia and Singapore, making it a safe platform for trading.
   
   

2. What cryptocurrencies does Independent Reserve support?
   The platform supports over 30 cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, and others with a wide range of trading pairs.
   
   

3. What are Independent Reserve's trading and withdrawal fees?
   Trading fees start at 0.5% and decrease with trading volume, while withdrawal fees for AUD are 0.99 AUD and cryptocurrency withdrawal fees vary depending on the currency.