Independent Reserve was established in 2013 and is one of the initial cryptocurrency exchanges in Australia. The exchange forms part of the ADCA (Australian Digital Commerce Association) and is supervised under the advisory board which is chaired by Michael Go. This exchange operates within the limitations of the laws and regulations pertaining to the Australian financial sector. The Independent Reserve is one of the initial digital currency exchanges which is dedicated to providing cryptocurrency trading services to New Zealand and Australian markets. In addition, the exchange is also well-like among cryptocurrency traders worldwide, since it offers support for fiat currencies and low fees. Independent Reserve also supports the United States dollar.
Traders can trade in Ethereum, Bitcoin, Bitcoin Cash, and Litecoin. This platform supports trading with the New Zealand dollar, the Australian dollar, and the US dollar. The exchange uses a multicurrency order book which will convert orders into the currency of selection. Basically, this means that you have the advantage of a full pool of orders that enables you to gain the best price when trading cryptocurrencies since you can view all the market orders irrespective of the fiat currency it is placed with.
Withdrawal And Deposit Selections
Although the Independent Reserve offers services to clients worldwide, the chief focus falls on clients who are based in New Zealand and Australia. As such, the withdrawal and deposit methods are equipped toward New Zealand and Australian markets. You can obtain more detailed information on Crypto Head. For Australians, these methods of withdrawals and depositing funds are available:
EFTs (For Australians)
Electronic fund transfers are on offer to traders who have Australian bank accounts. This method permits you to deposit in AUD. International traders can do a SWIFT transfer. The deposits may be in the form of USD or NZD. Besides doing a fiat currencies transfer, you can also fund the account with cryptocurrencies like XBT, BCH, BTC, ETH, and Litecoin.
The trading fees are based on a layered level. The more a user trade, the cheaper it will become. At the top of the scale, the fee will be 0.50%, and it will reduce as the trading volume enhances to a minimum of 0.10%.
Security And Privacy
Independent Reserve is required legally to verify the identity of all account holders. Particular information is requested by the exchange, contingent on the nationality of an account holder. The information offered will be checked against the databases of the account holder’s country and also with several CTF and AML databases. Only once verified will the account be accessible for permit trading. For security, the servers are situated at two secured data centers in Australia. This enables the Independent Reserve to ensure no data loss since the data is simultaneously replicated over both locations in real-time. There is also a fully configured production podium on standby to take over the central platform should the need present itself. All data is encrypted many times and signed with dispersed keys from various data centers. The bulk of bitcoins are kept in cold storage. On the user’s side, Independent reserve provides 2-factor authentication as an added level of security.