exchange

Best Bitcoin Exchange NZ | Independent Reserve vs EasyCrypto Review

hi guys welcome back to another video my

name is josh and in today's video we'll

be going over

two different crypto exchanges to figure

out which one is best the first one is

easy crypto and the second one is

independent reserve

so for each of these platforms i'll be

giving you a brief introduction as well

as talking about the range of coins

available and the safety of the platform

secondly we'll go over the fees and

spread and

lastly we'll talk about liquidity

liquidity basically

is the volume available on the platform

that is to say if you want to sell out

a big chunk of your cryptocurrency or if

you want to buy

a big chunk of your cryptocurrency how

does that impact the pricing available

so we'll be going over those three

things as always i'm not a financial

advisor

always do your own research before

signing up with these

platforms see the full disclaimer down

below but without further ado let's get

right into the video

so here is easy crypto's website so just

a little bit

about easy crypto so it says that their

mission is to make cryptocurrency

accessible and understandable so that

everyone can get involved

in the crypto market so on their website

they say that crypto will be sent to

your wallet within minutes

so let's quickly have a test i will now

buy

um the minimum amount of bitcoin that i

can buy on this platform just to see how

quickly

that will be sent so i go here on

instant buy and sell

and if i try to buy one dollar they'll

say no because minimum amount

is forty dollars so let's buy forty

dollars worth of bitcoin

so i've got my bitcoin address here from

the exit as a wallet

and so now you can pay with your bank

deposit so

obviously i want to get it instantly so

i will use

poly my order has been placed and is

currently processing okay so the time

now is

6 10 on the 21st of november so let's

see how

quickly that would arrive and here it is

so

here is the bitcoin that has come in the

bitcoin has finally arrived

uh roughly 10 minutes ago so that was at

6 26 p.m so it took roughly 15 minutes

for it to come in

which is relatively quick one thing

important to note about easy crypto is

that easy crypto is actually a crypto

retailer it's not an exchange where you

buy and sell with other people

it's a retailer that means when you're

buying and selling on easy crypto you're

actually buying and selling against

easy crypto and what that means as well

is that when you're buying crypto from

easy crypto

they actually send the crypto directly

into your wallet

let me just show you quickly what i mean

by that if you go into instant buy and

say you want to buy a hundred dollars

they'll ask you for your bitcoin address

so in that sense

the coins doesn't get stored on the

exchange which increases

the safety um because you know crypto

exchanges

can and do get hacked this is a level of

increased safety compared to other

exchanges so

it is safe and it is quick in terms of

the variety as well they do have over a

hundred and four

coins that you can buy using your new

zealand dollars

so moving on to independent reserve

independent reserve

is a australian crypto exchange so

they're not a

retail platform but they're an exchange

so when you're buying and selling

on independent reserve you are

essentially buying and selling with

other people

on the platform so they are used by over

150

000 customers and they've also been um

seven plus years in the business as well

so they are

really established as an exchange and

since they launched in uh 2013 they

haven't experienced any hacks

so far so they do appear to have a good

track record in terms of safety

in terms of variety as well there's

around 24

different coins that you can buy here or

cryptocurrencies that you can buy here

so there is quite a wide range as well

but obviously not as much as easy crypto

but the main ones you know bitcoin and

your ethereum

are here so that is independent reserve

a really quick introduction so now let's

get right

into the fees and the spread so here's a

spreadsheet that i got which summarizes

all the fees

that i could find on their website so

the thing about easy crypto is that

because they're a retailer they

include all the fees in the price and

that price will be represented in the

spread

which i'll talk about next but at the

moment they don't split out the

different fees involved because

obviously all of it's included in the

price what you see is what you get

so i've just put n a here but for

independent reserve they do split it out

so it's easier for us to see

what type of fees they charge so they do

charge a 0.5

commission on all trades where your

total volume is below 100 000

aud but if you go over that 100 000

then the percentage actually drops the

commissions dropped

to a lower level but for the purposes of

this video let's just look at the 0.5

percent commission

in terms of deposit fees they do charge

a 15 new zealand dollar fee

if you deposit less than 5 000 new

zealand dollars into your account

anything more than five thousand dollars

will be zero so they'll waive that fee

if you do have an australian account

when you deposit less than 100 aussie

dollars

you are charged only 99 cents of aud

and over a hundred dollars of deposits

you do

get the fee waived as well um if you're

withdrawing bitcoin you do have to pay

0.0003 fee which is roughly around eight

dollars

at the current bitcoin price when you're

withdrawing new zealand dollars you do

have to pay a 20

fee but aussie dollars is free so

obviously it is more beneficial if

you're dealing in aussie dollars because

independent reserve is an aussie

exchange

next up let's take a look at the spread

so here i took the buy sell of both

platforms on three different dates on

the 12th of november on the 20th of

november and on the 21st of november

and i essentially took it at the same

time so for

easy crypto you can see that the buy

sell is much wider so that is

calculated as the difference between

these two numbers and um you can see

that the difference here is

much wider than independent reserves

spread

so taking the latest price based on

today's prices

um if you're buying bitcoin on easy

crypto you will have to pay

27 522

for one bitcoin obviously you can buy

partial bitcoins you don't have to buy

one exact unit you can buy 0.01 or 0.001

on independent reserve it's 26 888 so

it's cheaper to buy bitcoin on

independent reserve

based on the buy sell on the sell side

if you're trying to sell bitcoin on easy

crypto you'll get 26 thousand

four hundred and thirty four dollars but

on independent reserve you'll get twenty

six thousand six hundred and eighty one

so you're getting more

when you sell on independent reserve

compared to easy crypto

as you can see here the fees and the

spread are a lot different for these two

because easy crypto

includes all their fees within the

spread whereas independent reserve

has fees but a tighter spread so what i

did was i included two examples where i

performed a analysis on what would

happen if you bought one thousand

dollars worth of bitcoin and another

example

when you buy five thousand dollars worth

of bitcoin

so here is the example looking at one

thousand dollars first

on easy crypto you will get one thousand

dollars and say you buy bitcoin one

thousand dollars worth of bitcoin you

would draw it to your wallet which is

free because it gets sent directly to

your wallet anyway

and you deposit bitcoin when you want to

sell the bitcoin but that is free

as well um and you are charged the sales

spread and this is based off the 21st of

november spread

and then you would draw the cash so you

end up with 960 dollars

whereas on independent reserve you're

charged a 15 fee

if you deposit less than 5 000 so on 1

000

you will get charged a 15 fee based on

the

buy price on the 21st of november you'll

get 0.03645 bitcoin which is more than

what you would get on easy crypto

because of the

different buy prices and then when

you're withdrawing bitcoin as well

you do get less because they do charge

you a withdrawal fee

and say you then want to deposit your

bitcoin back into the exchange

you will sell it for 959.69

new zealand and when you withdraw it you

are charged another 20

fee so you end up with 939.69

which is less than easy crypto so in

this case easy crypto wins

but on the other hand if you deposit 5

000

you are not charged a 15 fee for

depositing

and going through the same process you

end up with a

higher cash balance on independent

reserve compared to easy crypto

obviously it will meet somewhere in the

middle where it won't be 5000 that would

be break even point it'll be lower than

that and the magic number

is roughly 2 000 so if i change the

equation here it's pretty much

break even so in other words if you are

buying less than two thousand dollars

worth of

kryptos easy crypto might be the best

um platform for you but on the other

hand if you're buying more than two 2

000

worth of bitcoin then independent

reserve might be a better option now

obviously this whole dynamic changes if

you do have an

aussie bank account then you won't be

charged at 15

fee which would make independent reserve

a lot more attractive

so next up let's take a look at the

liquidity aspect of things

so on independent reserve what you do is

you go into bitcoin

and you can scroll down and here you

have your buyers and your sellers

essentially if you're buying bitcoin

this is the price that you'll pay you'll

pay

twenty seven thousand and ninety five

dollars and at the moment there is

a seller selling 0.7 units

of bitcoin which is roughly around 20

000 so that is quite a reasonable amount

if you're looking to buy bitcoin

you know if you're buying a few thousand

dollars then you will not

have any slippage meaning that you won't

have to pay the next available best

available price because you bought

essentially all of the units at this

price

so what you see is pretty much what you

get and on the buy side you have a buyer

here queuing up wanting to buy two

bitcoins at twenty six thousand

eight hundred and thirty five dollars so

if you wanna sell less than fifty two

thousand dollars worth of bitcoin

then you won't get any slippage so

independent reserve does look like

it does have good liquidity and um the

spreads are

better compared to easy crypto as well

so on easy crypto side on the other hand

because they are a retailer they don't

actually have an

order book so let's just test out to see

you know what would happen if we try to

order bigger amounts of bitcoin whether

that

impacts the rate or not so in order to

do that i'll just test

buying 100 worth of bitcoin if you click

on rate info

it says here that the bitcoin rate is 27

630 but if we buy a thousand dollars

it still says two nc 7630

you buy 10 000 worth they'll still be

the same

so in terms of easy crypto it does look

like there isn't any slippage because

they do mention

what rate that you're gonna get it

doesn't look like it's being impacted

based on the value

or amount that you want to buy or sell

so overall i think both these platforms

have their own strength

for easy crypto they really are quick

and also it

is a great way to buy and add small

amounts because there isn't a deposit or

withdrawal fee you can do that over time

through their auto

buy-in which basically helps you

dollar-cost average

into the platform however if you're

looking to buy or sell higher amounts

over 2000 or if you're looking to trade

more frequently

then i would look into independent

reserve more

because they do offer lower spreads

which means that if you trade more

frequently you'll be saving more money

as compared to easy crypto they do have

an auto trade function

as well which can help you dollar cost

average but bear in mind that there is

that deposit fee when you're depositing

less than 5 000 new zealand dollars

however the whole dynamic changes when

you do have an australian bank account

which makes independent reserve a lot

more attractive

in the sense that the deposit fee is a

lot lower and there is no withdrawal fee

as well

so those are your options to consider

now remember i'm not a financial advisor

i cannot give a recommendation into

which one is best for you because i

don't know your personal situation

but in any case i do have a referral

link for both of these two platforms

so be sure to check it out when you do

use the referral links i will get a

small kickback from each of these

platforms so that will greatly

help me continue making content on this

channel so i hope you enjoyed this video

thank you for watching

until next time take

you