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Independent Reserve Review: Is it legit, safe and trustworthy for UAE citizens and residents?

Independent Reserve is a cryptocurrency exchange based in Australia. It was founded in 2013 and has since expanded to service consumers not just in New Zealand and Singapore but also worldwide. It has developed a first-rate orderbook exchange as well as an over-the-counter (OTC) service desk, and more than 8000 self-managed super fund companies put their faith in the company. Even though they may not be as well-known as some of the other top crypto exchanges in Australia, they are still a fantastic option for Australians who are interested in entering the cryptocurrency sector. Visit Independent Reserve Website.

Independent Reserve is a fantastic platform for trading cryptocurrencies, but it may take some time to become accustomed to using it. The user interface is not as straightforward as the one found in Swyftx, which is designed with ease of use for novices in mind.

With its VIP service desk for large over-the-counter (OTC) trades, discount on large volume trades (over $20 million per month decreases your fees to only 0.02 percent), and the fact that it is selected by more than 8000 self-managed super funds, Independent Reserve is better suited to experienced high-volume traders.

This Australian exchange offers various advantages over others, such as the capability to deposit US Dollars, New Zealand Dollars, and Singapore Dollars, which makes it accessible to users from other countries. On the other hand, there are more than 200,000 people using Independent Reserve throughout the world, but CoinSpot has more than a million people using its platform. My best assumption is that this is because Independent Reserve seems to be catering mostly to high-volume traders with considerable industry knowledge.

The following is a rundown of the capabilities offered by Independent Reserve:
Users are able to register and begin trading in a matter of minutes with FastTrack.
Buy immediately using AUD, USD, SGD, or NZD. 26 different cryptocurrencies available to buy, sell, or trade.
Fees on trades up to 0.5 percent (as low as 0.02 percent if high-volume trader)
Support desk accessible for any concerns
Premium Accounts that are registered with AUSTRAC are eligible for insurance on crypto assets.
The vast majority of assets are stored offline in a secure location.

How can you choose amongst all of the many cryptocurrency exchanges that are now available? To illustrate why Independent Reserve is considered to be one of Australia's top cryptocurrency exchanges, I will now go through some of the most notable services that it provides.
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You may quickly buy cryptocurrency with AUD, USD, SGD, or NZD: The ability to buy cryptocurrency using Australian dollars is one of the most essential aspects for crypto investors in Australia. AUD is one of four fiat currencies that may be purchased through Independent Reserve. The other three are the US Dollar, the Singapore Dollar, and the New Zealand Dollar.

You can choose to make fast purchases and sales of bitcoins on Independent Reserve, or you can trade Bitcoin on one of several exchanges. If you want to buy something directly from the exchange, the process is straightforward, and the transaction will take place immediately. If you would rather choose the price at which you would want to purchase Bitcoin, you may do so by clicking on the Trade tab, where you will also be able to place your order. If you are just starting out, my advice is to make your first few purchases using an immediate payment service because it is simple, quick, and eliminates any concerns about fluctuating prices. Regrettably, it appears that the market is only accessible for transactions involving Bitcoin at this time. If you wish to acquire Ethereum, for instance, you can only do it in an immediate transaction; you cannot exchange it on the market.

Trade the most widely used cryptocurrencies: Independent Reserve is compatible with all the major cryptocurrencies, and because there are only 26 coins available on the platform, the company has focused its attention on them. This is wonderful news for large traders and investors, as it means they won't have to worry about keeping track of hundreds of different altcoins. If, on the other hand, you are interested in purchasing a less popular cryptocurrency that you believe will see exponential growth over the course of the next few months, you will need to investigate one of the other exchanges. To get a comparison of some of the most reputable cryptocurrency exchanges in Australia, please click here.

Customer support: If you are having any difficulties with your account, you can easily contact Independent Reserve by submitting a ticket on their Support Desk. When they have finished looking into it, a response will be sent to your email.

Excellent safety measures: Independent Reserve protects the privacy of your information and the safety of your assets through a variety of measures. They are able to synchronously duplicate all data since their main servers are safely housed at two Tier 3 data centers in Sydney, Australia. This safeguards their data and prevents any loss of data in the event that an outage occurs at one of the locations.

All personally identifiable information is shielded from public view by being digitally signed and encrypted numerous times with the use of keys that are dispersed among four separate data centers.

The vast majority of digital assets are protected using many layers of encryption and are maintained offline in cold storage on digital hardware storage devices that are held in physical vaults in a variety of locations across the world. Every one of the vaults has many levels of physical protection, in addition to a biometric verification system that checks the identity of anybody who tries to enter one of the vaults.

Two-factor authentication, often known as 2FA, allows users to take control of their own security by preventing unauthorized access to their accounts.

Insurance for your cryptocurrency holdings: Independent Reserve is the first cryptocurrency exchange in Australia to provide customers insurance for their holdings. Those who are concerned about entering the cryptocurrency market because they have heard about people losing assets as a result of hacking are given piece of mind by this development.

You will need to join up for a Premium Account in order to have your cryptocurrency holdings protected by insurance. Your degree of protection is directly proportional to the amount of money you have in your Premium Account. The annual charge for the Starter account is $300, and in exchange, you receive insurance coverage for a total value of 20,000 Australian Dollars (AUD) worth of crypto assets, as well as Premium Support over the phone. The majority of newcomers to the crypto investment industry will find this low-cost alternative to be appropriate for their needs.

There are greater levels of insurance available, the greatest of which is the Diamond account, which is reserved for more significant investors. The charge is $35,000 per year, but the insurance covers $5 million worth of cryptocurrency, which is beneficial to have if you trade significant amounts of the asset.

I have compiled a list of the many fees that are required at Independent Reserve for your convenience. If you deposit more than a particular amount, some of the costs associated with the deposit will be eliminated, and you will be eligible for a significant reduction on the trading fees associated with the trades, as I will explain in more detail below. Because of these things, I have the impression that Independent Reserve is primarily interested in courting large-scale investors.

The fees associated with making deposits are determined on the mode of deposit that you select. The following is a list of them:

Electronic Funds Transfer - FREE if you deposit AUD 100 or more. Smaller deposits incur AUD 0.99 charge.

PayID / OSKO - FREE if you deposit AUD 1000 or more. Smaller deposits incur AUD 2.50 charge.

International Deposits are made free of charge when the equivalent of $5,000 or more is deposited in New Zealand dollars or the United States dollar. Smaller deposits incur $15 charge.

The usual price for transactions is 0.5 percent, although you may be eligible for reductions based on the volume of trades you have conducted over the course of the previous 30 days. The following is a table that will show you the percentage discounts that are available to you based on the volume of your business. The charge is an astonishingly low 0.02 percent, which is the lowest that I have observed in any Australian cryptocurrency exchange. This applies to huge institutional investors that engage in trading totaling $20 million per month.

The fees associated with withdrawal might change depending on the method you use. The following is a list of them:

NPP Instant AUD Withdrawals - $1.50 Australian Dollar Withdrawals - FREE International or non-AUD Withdrawals - $20
The value of cryptocurrency fluctuates depending on the coin in question. To view the whole list, please click here. I will run down the costs associated with some of the most popular coins: BTC 0.0003, ETH 0.004, and XRP 0.15 are the values for Bitcoin, Ethereum, and Ripple, respectively.

Independent Reserve has excellent security and offers insurance as an optional extra.

Pros and cons of Independent Reserve:
Trading is possible in AUD, USD, SGD, and NZD.
Registering and getting started trading just takes a few minutes.
Support Desk accessible for any difficulties
Fee reductions for traders who do a high amount of business
The user interface is not as friendly to use as that of other exchanges.
Fees assessed for deposits of less than a certain threshold
Open Independent Reserve Account

It is essential that you are able to have faith in a cryptocurrency exchange before you begin trading and depositing money with them. After conducting the necessary investigation, I can confidently tell you that Independent Reserve is a genuine cryptocurrency exchange. It was founded in 2013 and was the pioneer in achieving AUSTRAC registration. It is an audited member of Blockchain Australia, which is the organization that represents the cryptocurrency sector in Australia, and it has been awarded the Gold Certified status.

Additionally, Independent Reserve is the first cryptocurrency exchange in Australia to provide insurance on its customers' crypto assets. This does not cover any losses that were caused by the volatility of the market, nor does it cover any losses that were caused by unauthorized access to your account; however, it does cover any theft or loss of digital currency that was stored in an Independent Reserve wallet. Visit the website, scroll down, and search for "Insurance" to obtain any more details you may want.

Independent Reserve uses a comprehensive set of security measures to protect your funds and maintain the confidentiality of your personal information. I have gone into much depth about this topic up there. Please click the link to continue reading. You are also aware that you are able to trust Independent Reserve since it has Anti-Money Laundering (AML) procedures in place to guarantee that it is not involved in the facilitation of money laundering or the support of terrorism.

If you are a high-volume trader, utilizing Independent Reserve is something that you should most certainly consider doing. You have all of the deposit costs waived, and you can even buy insurance to cover you in case anything unforeseen happens. The trading fee savings are a good deal. This is the ideal exchange for large Australian investors due to Independent Reserve's exceptional security and OTC Service Desk, as shown by the fact that 8000 Self-Managed Super Funds utilize and trust Independent Reserve.

On the other hand, I would not recommend it as the first pick for novice investors entering the world of cryptocurrencies. The user interface is not as simple to navigate as those of other exchanges; also, it has an antiquated and rather chaotic feel to it. In addition, there are expenses associated with making smaller contributions, as well as fees only to obtain your tax summary, which reduce the total amount that you are able to invest. Another thing to keep in mind is that there is no Live Chat tool on Independent Reserve, which can be annoying or even alarming for new users. If you run into any problems, you will not be able to get assistance through this feature.

Independent Reserve is a highly regarded cryptocurrency exchange in Australia. It is overseen by Australia's regulated financial sector and is a member of Blockchain Australia. Independent Reserve was established in 2017. In this analysis of Independent Reserve, we will investigate the characteristics of the trading platform, including its user interface, deposit methods, fees, and level of safety.

Independent Reserve is a cryptocurrency exchange in Australia that is permitted to operate, and it offers users a platform that is both safe and secure on which they can buy and sell 26 of the most popular digital currencies. The cryptocurrency exchange first opened its doors in 2013 and has since broadened its customer base to include crypto investors based in South East Asian countries like Singapore as well as New Zealand.

Since the launch of the exchange in 2013, Independent Reserve has earned the trust of over 200,000 individuals as well as 8,000 SMSF accounts to obtain cryptocurrencies by using the following fiat currencies: Australian Dollars (AUD), New Zealand Dollars (NZD), United States Dollars (USD), and Singaporean Dollars (SGD) (SGD).

Independent Reserve is a registered cryptocurrency exchange that prioritizes providing excellent customer service and maintaining a platform that is both stable and safe. Users have the ability to purchase and sell 24 main cryptocurrency assets with a trading charge of 0.5 percent. Additionally, users have access to tax tools and dollar-cost averaging to round out the experience. The following is a synopsis of the benefits and drawbacks of using Independent Reserve.

Independent Reserve is a legal and reliable business that can be found at Level 26, 44 Market St, Sydney 2000, Australia. The company's ABN is 46 164 257 069. The exchange has more than 200,000 customers, and in order to guarantee that it is operating in an appropriate manner, it is overseen by the highly regulated financial sector in Australia. It was the first digital exchange in Australia to become a reporting institution to the organization that is responsible for overseeing financial intelligence for the Australian government, AUSTRAC.

Transferring money through your bank is one of the most common ways to fund an Independent Reserve account using AUD, USD, or NZD. This table provides a comparison of many additional well-known cryptocurrency exchanges in Australia, in addition to Independent Reserve, that provide bank transfers.

Independent Reserve has not been hacked or otherwise compromised since the year 2013, when it was first introduced to the market. To reduce the likelihood of losing assets or having them stolen, offline wallets are used to safely store customers' money. Two-factor authentication, remote core servers, and wallet whitelisting are some of the additional security measures that are available.

Independent Reserve includes a feature called Instant purchase and sell that is straightforward and simple to use, making it ideal for novice traders and first-time investors. There is no sophisticated plotting, and the order kinds are straightforward. Select the cryptocurrency you want to buy, enter the desired quantity, and then click the "buy" button. The transaction will be finished in a moment or two at the most. The money are instantly sent from the server to the user's wallet, where they are available for withdrawal.

Independent Reserve, in contrast to its rivals, operates as a cryptocurrency exchange that is licensed in numerous jurisdictions, including Australia, Singapore, and New Zealand. Customers have the ability to fund their accounts using fiat currencies such as the Australian Dollar, United States Dollar, New Zealand Dollar, and Singapore Dollar. Users have the ability to select the currency they wish to pay with by toggling between the available currencies, which provides them with greater flexibility in light of fluctuating exchange rates. For deposits in either US Dollars or Singapore Dollars, a number of different payment methods are accepted, including bank transfers, PayID, and SWIFT.

The fees that Independent Reserve charges are quite competitive and start at 0.5 percent of each transaction. With the use of a tiered system, investors who place larger orders are eligible for reduced trading costs, which can drop as low as 0.02 percent. The beginning trading charge of 0.5 percent each buy and sell trade represents excellent value for money for the vast majority of investors. In comparison, cryptocurrency exchanges such as CoinSpot and CoinJar charge fees of only one percent for quick buy and sell transactions.

The Independent Exchange is one of the few exchanges in Australia that has survived the test of time despite being one of the oldest exchanges in the country. The VIP OTC Desk and SMSF assistance offered by the exchange are two of its most popular features. Independent Reserve is the finest exchange in Australia for big orders, and it has over 80,000 investors who are involved in Super Funds. Its support comes in the form of premium-grade reporting tools, banking solutions that are streamlined, and audit reporting that is compliant.

The OTC desk, which is exclusive to Independent Reserve and perfect for investors who open an SMSF account, provides even the option to "set and forget" with limit orders and dollar-cost-averaging tools. This feature is excellent for investors who create an SMSF account. Read this post if you want to learn more about the most advantageous locations in Australia to invest in cryptocurrencies using an SMSF.

The procedure to sign up for an account with Independent Reserve is straightforward. To get started, go to the website and look for the link labeled "Create Account" in the upper right-hand corner of the page. This will open up a new screen where you can choose a username and a password for the account. After that, you will be prompted to provide more personal information that is necessary to maintain an account.

To log in, just use the email address associated with your account and your password. You will be needed to verify the following information the very first time you log in to your account:

Email address: The primary means by which users may sign in to the exchange

Mobile number: If you are unable to login using two-factor authentication (2FA), or if you forget your password, you will be forced to provide this mobile number in order to be identified.

Additional protection in the event that you forget your password or lose access to the primary mobile device, as well as in the event that you lose the ability to authenticate using 2FA. The secondary telephone number is optional.

Your status as a person: Your information will be verified by being cross-checked against a number of AML and CTF databases, which stand for "anti-money laundering" and "counter-terrorism funding," respectively.

Users of Independent Reserve are able to make deposits using the following fiat currencies: AUD, USD, NZD, and SGD. Independent Reserve allows customers to fill their accounts with the following payment methods, allowing them to purchase and sell Bitcoin and other cryptocurrencies.

PayID/Osko is one of the most convenient ways to add funds to an account since it does not take more than twenty-four hours to arrive and has an initial maximum daily limit of twenty thousand dollars. By submitting a request to the support team, you can get any of your deposit limitations raised.

Stable coins, altcoins, and DeFi tokens are some of the 26 digital assets that may be exchanged on Independent Reserve against fiat currencies like as the Australian Dollar (AUD), United States Dollar (USD), Singapore Dollar (SGD), and New Zealand Dollar (NZD). Bitcoin, Ripple (XRP), Ether, EOS, Dogecoin, and many more cryptocurrencies are examples of the accessible digital assets. Please check their website for a comprehensive list.

When it comes to buying and selling digital currencies, the user interface of Independent Reserve is uncomplicated and well-organized. Because the choices run along the top, first-time Bitcoin purchasers won't have any trouble navigating the site. Those who are experienced with technical analysis will notice that the 'Markets' tab has a TradingView feature that enables high-fidelity charting and analysis.

The basic user interface of Independent Reserve consists of a straightforward visual chart, a market depth profile, and a list of recent trades. Users will soon discover that adjusting the time period on Independent Reserve charts is rather cumbersome, and that there is no option to create trend lines or add technical indicators to the charts.

Adjusting the slider and zooming in and out to examine the precise time period necessary for analyzing candlestick patterns can be a challenge and a source of frustration due to this. If you rely on technical analysis, then you might want to use Independent Reserve in combination with another cryptocurrency charting service (to make the most of the low trading fees).

When compared to other prominent cryptocurrency exchanges in Australia, Independent Reserve's charting interface falls short in terms of quality. To bring the trading experience into the 21st century and ensure that it stays current, the whole user interface has to be completely redesigned. TradingView's improved charting is attractive to professional investors and traders alike, therefore an increasing number of cryptocurrency exchanges are incorporating it as the default option.

The fee charged by Independent Reserve is calculated based on the total trading volume of the preceding 30 days and begins at 0.5 percent per transaction. The lower the trade volume, the lower the costs that are charged, which can drop to as low as 0.02 percent (re-calculated every 4 hours).

In order to acquire a reduced crypto trading cost, the fee structure increments appear to be appropriate for high-net-worth people and investors in SMSF who have huge quantities of money available to invest. The 0.02 percent trading cost is definitely out of reach for someone just starting out in the market. Binance and Mine Digital, by contrast, charge transaction fees of 0.1 percent and 0.2 percent, respectively, for all cryptocurrency exchanges.

There is no processing charge associated with the withdrawal of fiat cash in AUD. If you are a resident of New Zealand or any other foreign country and you withdraw cash in US Dollars or New Zealand Dollars, you will be subject to a fee of $20. Withdrawals made in SGD are subject to a fee of 0.55 percent.

When moving coins from the exchange, a regular network fee is deducted in addition to the cost of withdrawing cryptographic currency. The load on the blockchain is what determines the amount of this charge.

The vast majority of digital assets are kept in cold storage by Independent Reserve, which is accomplished with the help of a dynamic wallet solution. The cold wallets are stored on offline digital hardware storage devices and protected by many layers of encryption. The hardware is kept in physical vaults that are dispersed over a number of different geographic sites.

The remote core servers that are used by Independent Reserve are housed in a safe environment within data centers. Because of this, the exchange is able to synchronously duplicate all of the data across both sites in real time. This helps to guarantee that there is no loss of data in the event that the exchange is hacked. In the event that data is stolen or the infrastructure fails, Independent Reserve has a fail-over environment ready to take over and provide uninterrupted service.

Two-Factor Authentication is an additional layer of security that can be added to secure users' log in and account access. This layer of security may be activated to safeguard your account from unwanted access. During the account creation process, Independent Reserve recommends activating two-factor authentication (2FA). Device Whitelisting is another feature that users may take advantage of. This feature needs additional authentication for newly added devices, and by default, all users are secured by smart IP and withdrawal address whitelisting. Users can also benefit from Device Whitelisting.

Existing users of Independent Reserve have the opportunity to participate in an affiliate and referral program that enables them to earn fifty percent of all brokerage fees paid by new clients for the first ninety days of their membership. Users have the ability to promote Independent Reserve by inviting their friends and sharing their referral code with others through content, videos, articles, and ad placements.

Our analysis of Independent Reserve has shown that this Australian digital currency supplier is trustworthy and legitimate, and that it serves many hundreds of thousands if not millions of consumers. Both inexperienced and seasoned traders may benefit from the exchange's competitive fee structure, which keeps costs low.

However, Independent Reserve ought to take into consideration the following potential enhancements:

Improved charts equipped with more sophisticated tools and functions for carrying out technical analysis
Trading app for mobile devices, together with the capacity to monitor real-time cryptocurrency values on the exchange

In addition to the aforementioned benefits, Independent Reserve is widely regarded as one of the most user-friendly and cost-effective cryptocurrency exchanges. It has a straightforward method for making deposits and withdrawals as well as excellent customer service.

Does Independent Reserve Require KYC? Before you are allowed to trade or withdraw funds from Independent Reserve, you must first complete the KYC processes. In order for new users to access greater limitations, they will be required to provide personal identity paperwork. As the law requires, this is done to safeguard both the exchange and the investors from the threat of countering money laundering and countering funding of terrorism.

Is it possible to invest my retirement funds with Independent Reserve? The Self-Managed Super Fund (SMSF) service that Independent Reserve provides makes it possible for average Australians to put their money into cryptocurrencies like Bitcoin, Ethereum, and Ripple, amongst others. According to the information provided on the website, Independent Reserve was the first digital exchange in Australia to provide this service and currently has over 8,000 SMSF accounts.

Does Independent Reserve Have An App? The mobile phone operating systems iOS and Android are not supported by the Independent Reserve app for mobile devices. The web-based version of the platform is optimized for usage on mobile devices, making it accessible via smartphones.

Which Countries Do We Provide Assistance To? Users from the following countries are able to have their identities verified and purchase cryptocurrencies on the Independent Reserve exchange: Australia, Austria, Belgium, Canada, Cayman Islands, Czech Republic, Denmark, Finland, France, Germany, Greenland, Hong Kong, Hungary, Iceland, Ireland, Isle of Man, Italy, Japan, Korea, Republic Of Liechtenstein, Luxembourg, Macao, Monaco, Netherlands, New Zealand, Norway, Poland, Portugal, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Taiwan.

Independent Reserve is one of the most successful fiat-to-cryptocurrency exchangers in the world. The company was founded in 2013 and is based in Sydney, Australia. On the Independent Reserve, there are more than 200,000 consumers buying Bitcoin using Australian dollars. The trading platform for cryptocurrencies has a protected and risk-free setting that instantaneously converts crypto technology into a strong and regulated financial business. Within the context of our evaluation of Independent Reserve, we have gone further into the distinct features, deposit methods, security, fees, and user interface of Independent Reserve.

Independent Reserve was one of the first cryptocurrency exchanges to be founded in Australia. Its primary customers are citizens of Australia and New Zealand, but some people from other countries also use it. It is certified as being in full conformity, is subject to regulation, and is a component of the ADCA (Australian Digital Commerce Association). Audits are performed on the firm; as a result, it can be trusted the greatest and there are less dangers associated. The Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Australian Digital Currency Authority (ADCA) have worked together to build a juristic foundation for the laws in Australia pertaining to cryptocurrencies.

Independent Reserve is a rather well-known cryptocurrency exchange on a global scale, despite the fact that it was one of the first exchanges to operate in the New Zealand and Australian markets. The exchange for cryptocurrencies offers support for a number of fiat currencies, one of which is the US dollar, as well as cheap transaction costs.

If you have traded on the Independent Reserve, then you are aware that cryptocurrency investors can trade in multiple cryptocurrencies with this leading trading platform. These cryptocurrencies include Ethereum, Litecoin, Bitcoin, and Bitcoin Cash. If you have traded on the Independent Reserve, then you are aware of this fact. When it comes to trading in fiat currencies, investors can use the New Zealand dollar, the Australian dollar, or the United States dollar. Orders placed through Independent Reserve's multicurrency order book are converted into the user's preferred currency at the time of the transaction.

In a summary, the study focuses on how Independent Reserve makes use of the whole pool of limit orders, which enables traders to obtain the best prices possible when trading cryptocurrencies with cryptocurrencies. This is discussed throughout further detail in the review. You are able to examine each and every market order, regardless of the fiat currency that they are bundled with. In addition, the Independent Reserve exchange allows users to place other types of orders, including limit sell, limit buy, market sell, market buy, stop limit sell, and stop limit buy transactions. In addition to that, Independent Reserve provides a mobile trading app that is compatible with mobile devices running either iOS or Android. The user-friendly program allows users to purchase, trade, and store cryptocurrencies, as well as manage their portfolios and the change of cryptocurrency prices. Trades can be placed quickly while maintaining a high level of safety, and the platform is designed for both novices and experts. Users may begin trading in a matter of minutes after just registering for a free account and depositing cash.

The noteworthy characteristics of the Independent Reserve are the driving force behind the integrity of this assessment of the Independent Reserve. The OTC-desk and the Cryptocurrency Tax Estimator are the two main characteristics that they highlight while describing their platform. Owing to the fact that it is a premium service offered by Independent Reserve, the OTC-desk caters mostly to high-net-worth individuals and high-end institutions that engage in high-volume trades involving the major digital currencies.

On the other hand, the Cryptocurrency Tax Estimator, which was developed by KPMG and is one of the most well-known digital tools, was able to link directly to the user interface of Independent Reserve. This tool gives investors the ability to quickly and easily estimate their tax obligations based on their portfolios. The tax estimator is an API, which stands for application programming interface. It enables the trading platform to provide an estimate to its customers concerning their potential tax exposure, and it does so in real time dependent on the buy and sell transactions that take place on the exchange.

The referral or affiliate program of this exchange is an additional feature that is worth mentioning. Through this promotion, existing users have the opportunity to receive fifty percent of the brokerage costs that newly referred customers pay for the first ninety days of their membership. They may either invite their friends by sharing the referral code with them or promote the exchange by promoting it through videos, advertisements, content, and so on. The following is a list of other important characteristics:

The bitcoin exchange with the highest level of customer confidence in Australia.
Engage in business with 26 important cryptocurrencies.
Instant deposits are possible by electronic funds transfer (EFT), SWIFT transfers, and Osko/PayID.
The New Zealand dollar, the Australian dollar, and the United States dollar are some of the supported fiat currencies.
A modest trading cost that starts at 0.5 percent and gradually goes down depending on the amount of trades.
SMSF, OTC, and high-net-worth trading are all supported.

The Independent Reserve Offers Both Pros and Cons:

Instant deposits through Osko/PayID, EFT, and SWIFT.
The variety of tokens that may be purchased through Independent Reserve is restricted.
The funds are being kept secure in the refrigerator.
Traders with less expertise may find the user interface to be difficult to navigate.
The in-app tax calculator provided by KPMG makes it simple to complete and submit tax returns.
Create a self-managed super fund (SMSF) and start investing in cryptocurrency for your retirement.

This trading platform, which is known as Independent Reserve, is simple to use, and it does not take a lot of time to set up an account on it. In order to open an account with Independent Reserve, you will need to complete the procedures that are listed below:

It is necessary for you to first sign up for the service in order to be eligible to benefit from the excellent exchange. Launch your web browser and go to the Independent Reserve website, then click the Create Account option. You will be prompted to enter your user name and password at this point.

After you have created an account, the page will ask you to verify your email address and input your personal information.

In the third stage, you will need to verify your identity by uploading identification papers that correspond to the personal details you supplied in the second step. In most cases, the verification process will take place almost immediately, particularly in Australia. It will signify that you have successfully registered an account on Independent Reserve after the verification is complete.

As soon as they are authenticated, you will be able to quickly begin making deposits and withdrawals. To add funds to your Independent Reserve account, navigate to the Accounts menu, then Select Deposit, and finally decide whether you want to add funds in bitcoin or fiat currency. Either a suitable cryptocurrency address will be provided to you in order to make a deposit of cryptocurrency, or you will be prompted to pick a payment method in order to make a deposit of fiat money.

You are free to begin trading as soon as the user money have been successfully transferred into your account. To engage in trading, pick the Trade menu option, and when prompted, select the digital currency you desire to purchase and sell.

In contrast to other cryptocurrency exchanges, which charge makers and takers the same flat 0.5 percent trading cost regardless of the number of trades conducted over the previous 30 days, the fees charged by Independent Reserve are calculated using a flat fee methodology. As the amount of money that is traded on the platform rises, the costs associated with trading drop to levels as low as 0.02% of the total.

In addition, investors that engage in a particularly large volume of trading are eligible for discounts offered by the exchange. It appears that the fee structure is intended for high-net-worth traders and SMSF traders who deposit huge sums of money in order to obtain a cheaper trading charge. The 0.02 percent commission that is charged on trades is likely out of reach for novice traders.

Users should be aware that there will not be any fees applied to any Australian dollar withdrawals. On the other hand, the Independent Reserve levies a withdrawal fee of $20 for any monies that are withdrawn from an account outside of the country. The fee for SDG withdrawals has increased to 0.55 percent, making them more costly. When it comes to withdrawals of cryptocurrency, the fees that are levied change based on the coin that is being withdrawn.

If you compare the costs charged by Independent Reserve with those charged by other exchanges, you'll find that Independent Reserve's withdrawal fees for trading Bitcoin are 0.0003 BTC, which is much lower than the worldwide industry average. It is also essential to be aware that cryptocurrency withdrawals are accompanied by a network charge, the amount of which is dependent on the load on the blockchain.

However, there are expenses associated with the processing of deposits made through Independent Reserve. These fees do not include SWIFT payment fees or network fees, which are typical fees associated with trading platforms.

All of the aforementioned rates fall, more or less, somewhere within the range of the average for the worldwide industry. However, you may also view the cost structure for Independent Reserve by following this link: Alternatively, you can call their customer service at the number shown above.

Independent Reserve provides numerous deposit methods. Users are able to start trading without having to hold any cryptocurrency in their retail investor accounts since wire transfers may be used to deposit monies into the retail investor accounts. Additionally, it enables customers who are based in countries other than Australia can use the SWIFT bank transfer system in order to deposit monies into their wallets at the exchange.

The trade venue does not accept payments made through credit card in any form.
Only traders in Australia are permitted to utilize ETF, which stands for electronic fund transfer.
People located outside of Australia are able to make deposits using SWIFT transfer, such as US investors who are interested in investing in NZD or USD. The procedure is very much like banking online; the only difference is that SWIFT codes are used.
PayID/OSKO can also be used to make daily deposits of up to a limit of 20,000 dollars.
It is important that you are aware that fees may be assessed depending on the type of payment method you choose and the amount that you deposit.

Independent Reserve's support for fiat currencies includes the following: AUD, or the Australian dollar
New Zealand dollar abbreviated as NZD
USD - American dollar
SGD - Singapore dollar

Independent Reserve now accepts payments in the following cryptocurrencies:
BTC stands for Bitcoin, ETH for Ethereum, XRP for Ripple, USDT for Tether, LTC for Litecoin, EOS for EOSIO, and XLM for Stellar Lumens. Bitcoin Cash.
Ethereum Classic, abbreviated as ETC
Basic Attention Token, or BAT for short.
OMG - OMG Network, ZRX 0x

Independent Reserve ensures the safety of its network by relying on a third-party service provider known as Cobalt, which also conducts regular scans of the website for any vulnerabilities. This trading platform's databases are both encrypted and digitally signed several times across four distinct data centers, giving it a safe and secure option for users. The majority of the bitcoin assets that are traded on the exchange are kept in a cold storage facility.

Additional safeguards for the Independent Reserve include the following:

2-step verification is utilized by the trading platform on all authentication devices, including mobile and those provided by third parties.

The Independent Reserve provides one of the most beneficial security features available, which is a password that can be used under duress. If you are under duress and someone is trying to compel you to access your account, you can enter the duress password that you set up earlier, and this will keep your account locked and protected for the next 24 hours.

Validation: For an added layer of protection, please include both your primary and secondary mobile phone numbers.

Independent Reserve users have the option of manually verifying their withdrawals in their account settings. In the event that withdrawal transactions or illegal access occur that appear to be suspicious, the support team will get in touch with you to verify that they have your authority.

Consequently, due to the presence of all of the aforementioned security elements, Independent Reserve is now considered to be one of the most dependable and secure cryptocurrency trading platforms available today.

Independent Reserve must conduct an identification check on all account holders before opening an account. This is necessary to comply with applicable laws. It is possible that you will be asked to give certain information dependent on the nationality of the account holder. After that, all of the information will be checked against the databases of the nation where the account holder resides, in addition to a number of CTF and AML databases. Following the completion of the account verification procedure, you will have the ability to trade cryptocurrencies.

Concerning the safety of the Independent Reserve's servers, they are housed in a pair of safe data centers in the country of Australia. Since the data is duplicated concurrently across all of the sites in real time, this guarantees that there will be no loss of data.

In addition, the production platform that has been completely configured can take over for the primary platform if that becomes necessary. The data is encrypted many times, and then it is signed using the various keys that have been spread. The vast majority of Bitcoins are kept in a cold storage facility. As an extra layer of protection, the trading platform supports two-factor authentication for the customer's account.

When it comes to the quality of the customer care that Independent Reserve provides, the trading platform makes the claim that its assistance section will provide services that are rather thorough. They are quite rapid in responding to client concerns and answering practically all of the inquiries that are asked.

You may contact the support team through email or through the help interface on their website if you need any more assistance. The latter option is only accessible once you have successfully logged in. In addition to their subreddit forum, you may interact with them on Facebook, LinkedIn, and Twitter using the usernames they provide. If you have any questions, you should look for impartial guidance from those who are knowledgeable in the subject.

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As this Independent Reserve evaluation for Australia comes to a close, it is reasonable to claim that the exchange is Australia's legitimate digital currency business, as it has more than 200,000 clients from both within and outside the country. The customer support team provides superior service and has a low average response time. Independent Reserve is widely regarded as one of the best cryptocurrency exchanges since it protects your assets as well as the personal information you share from being accessed by hackers and other online criminals.

Independent Reserve is an organization that is not only reliable but also genuine, and it can be found in Sydney, Australia. To ensure that all transactions and activities involving investor funds are carried out in an ethical manner, the platform is subject to the regulations of a well-known financial industry that is administered in Australia. It is one of the first cryptocurrency exchanges in the country to report to the government agency known as AUSTRAC, making it a pioneer in the industry.

Simply log in to your account and choose Accounts from the menu to begin the process of withdrawing monies from the Independent Reserve. Proceed to the area labeled Account Balance, and when you're there, choose the link labeled Withdraw that's aligned with Bitcoin. First, it will display your Available balance in BTC, and below that, you will be able to input the quantity of Bitcoin that you want to withdraw. Additionally, be sure you copy and paste your destination address into the box on the right. Before you click the Withdraw button, be sure that all of the information is correct. The details of the transaction will be shown to you in a fresh window for you to confirm. Please enter either your password or your 2-step verification code. After the BTC has been removed from your account, check the Account Balance to see how much money is still available.

Independent Reserve is a wallet for storing bitcoin. This wallet allows for instant deposits and instant withdrawals of funds at any given point in time.

More than 30 nations currently stock Independent Reserve in their stores.

Both iOS and Android users may access the mobile trading app offered by Independent Reserve on their respective devices. The user-friendly program allows users to purchase, trade, and store cryptocurrencies, as well as manage their portfolios and the change of cryptocurrency prices. Trades can be placed quickly while maintaining a high level of safety, and the platform is designed for both novices and experts. Users may begin trading in a matter of minutes after just registering for a free account and depositing cash.

Due to the fact that the funds must first be translated into AUD before they can be withdrawn from your Independent Reserve USD account to a local Australian AUD bank account, the withdrawal process typically takes between two and three working days.

You may register for trading in Independent Reserve using FastTrack in a way that is both simple and rapid, giving you the ability to begin trading sooner. In addition, you have the option of depositing funds through EFT or SWIFT. FastTrack and immediate deposits make it possible for you to begin trading in as little as five minutes.

Adrian Przelozny and Adam Tepper are responsible for the launch of Independent Reserve in June of 2013. The firm is led by Adrian Przelozny, who serves as the CEO.

It is not intended for any of the information presented in this review of Independent Reserve to be taken as an endorsement or a recommendation to purchase or sell cryptocurrencies. The information presented here on Independent Reserve should not be construed as investment advice.

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Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.