Independent Reserve Review 2024

Autor

Revisor

Last update: 6 months ago

Our veredict

Independent Reserve is a robust cryptocurrency exchange known for its commitment to security and compliance, making it a trustworthy choice for both novice and seasoned investors. The platform’s strong regulatory adherence, underscored by its AUSTRAC registration and ISO certification, instills confidence, ensuring that user funds and data are treated with the utmost security. This focus on safety is a significant asset, particularly for beginners who may be concerned about the security of their investments.

On the downside, Independent Reserve operates with a relatively limited selection of cryptocurrencies, which might be a drawback for users looking to trade a broader array of digital assets. However, for those new to the cryptocurrency space or those who prefer trading more established coins, Independent Reserve offers a user-friendly interface and a variety of fiat-to-crypto trading options that enhance accessibility and ease of use. This balance of security and user-friendly features makes Independent Reserve a solid choice, though the limited selection of altcoins might be seen as a limitation for some traders.

Pros

Cons

Threenvest Score

Fees

≤0,50%

U.S Legal

With the confidence of Threenvest

Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability.

Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support.

Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users.

Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter.

Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities.

Best Crypto Exchanges

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About Independent Reserve

Introduction

Independent Reserve is an established cryptocurrency exchange based in Australia, known for its reliability, robust security measures, and regulatory compliance. Launched in 2013, the exchange serves a wide range of customers, including both individual traders and institutional investors, particularly in Australia, New Zealand, and Singapore. With a strong emphasis on security and customer service, Independent Reserve has built a solid reputation in the crypto trading community.

What is Independent Reserve?

Independent Reserve is a digital currency exchange where users can buy, sell, and trade a variety of cryptocurrencies. The platform supports multiple fiat currencies, including AUD, NZD, USD, and SGD, making it accessible to a broad audience. The exchange offers a user-friendly interface and a secure environment for trading, with features tailored to both beginners and advanced traders.

Background and History

Independent Reserve was founded in 2013 in Sydney, Australia, by Adrian Przelozny, Roman Stefanidi, and the late Adam Tepper. The founders aimed to create a reliable and secure platform for cryptocurrency trading amid the nascent crypto industry’s growing demand. Initially focusing on the Australian market, Independent Reserve quickly established itself as a reputable exchange. Over the years, the platform expanded its services to New Zealand and Southeast Asia, responding to increasing demand from these regions. The exchange is recognized for its adherence to regulatory standards and commitment to transparency and security.

Founders

The founders of Independent Reserve are Adrian Przelozny, Roman Stefanidi, and Adam Tepper. Adrian Przelozny serves as the CEO, bringing extensive experience in the tech and finance sectors. Roman Stefanidi, the CTO, contributes his technical expertise to ensure the platform’s robustness and security. Adam Tepper, who played a crucial role in the early days of the exchange, tragically passed away in 2015. Despite this loss, the remaining founders have continued to drive the exchange forward, maintaining its commitment to reliability and innovation.

Fun Facts

Independent Reserve is one of the first cryptocurrency exchanges to be regulated within the Australian financial system.
The exchange has never been hacked, showcasing its strong security protocols.
It supports a unique asset, the Perth Mint Gold Token (PMGT), which allows users to trade digital gold tokens backed by physical gold.

Interesting Headlines

“Independent Reserve Expands to Southeast Asia Amid Growing Crypto Adoption”
“Security First: How Independent Reserve Maintains a Hack-Free Record”
“From Australia to the World: Independent Reserve’s Journey in the Crypto Space”

Independent Reserve stands out as a secure and reliable platform for cryptocurrency trading, offering a blend of user-friendly features, regulatory compliance, and strong security measures.

Why Choose Independent Reserve?

1. Robust Security and Regulatory Compliance Independent Reserve prioritizes security and regulatory compliance, making it one of the safest platforms for cryptocurrency trading. The exchange employs advanced security measures, including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its assets. Additionally, it undergoes regular security audits and penetration testing to ensure a secure trading environment. Independent Reserve is also registered with AUSTRAC, adhering to stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, which provides users with added peace of mind.

2. User-Friendly Interface and Excellent Customer Support The platform is designed to be accessible to both beginners and experienced traders. It offers a clean and intuitive interface that makes navigating the platform straightforward, even for those new to cryptocurrency trading. Moreover, Independent Reserve provides comprehensive customer support, including a well-resourced help center and responsive support team available through email and support tickets. This ensures that users can quickly resolve any issues they encounter.

3. Competitive Fees and Multiple Fiat Support Independent Reserve offers a competitive fee structure, with trading fees starting from 0.5% and decreasing with higher trading volumes. This tiered fee model rewards active traders and makes the platform cost-effective. Additionally, the exchange supports multiple fiat currencies, including AUD, NZD, USD, and SGD, making it highly convenient for users in its primary markets. The ability to deposit and withdraw using these fiat currencies adds to the platform’s accessibility and ease of use.

Where it falls short

1. Limited Cryptocurrency Selection Independent Reserve currently supports around 30 cryptocurrencies, which is fewer than many global competitors. This limitation might be insufficient for advanced traders looking for a broader range of assets and more diverse trading opportunities. To address this, the platform could expand its list of supported cryptocurrencies to include more altcoins and emerging tokens. This would make it more attractive to traders seeking a wider array of investment options.

2. Lack of Advanced Trading Features The platform does not offer advanced trading features such as margin trading, futures, or advanced charting tools. These features are often sought after by more experienced traders who require sophisticated tools for implementing complex trading strategies. Introducing these advanced functionalities would help Independent Reserve cater to a broader audience, including professional traders and those with higher trading volumes. Additionally, adding a crypto credit card would enhance its service portfolio, making it more competitive with other exchanges that offer comprehensive financial services linked to cryptocurrency holdings.

Features	Explanation
Minimum Trade	Independent Reserve has a low minimum trade amount, making it accessible for beginners who want to start small.
Trading and Transaction Fees	While Independent Reserve offers competitive fees, they are not the lowest in the market. However, fee reductions are available with higher trading volumes.
Number of Cryptocurrencies	The exchange supports a wide range of cryptocurrencies, including major ones like Bitcoin and Ethereum, as well as some altcoins, providing good options for diversified portfolios.
Crypto-to-Crypto Trading Pairs	Independent Reserve provides a decent variety of crypto-to-crypto trading pairs, but it has fewer pairs compared to some leading exchanges, which may limit trading options for advanced users.
Website Transparency	The platform is clear about its fees and services, and its website is user-friendly and easy to navigate, helping users find information quickly.
Credit/Debit Card	Independent Reserve does not offer a card for in-store purchases.
Storage Offering	Independent Reserve excels in security with the majority of user funds held in high-security cold storage, ensuring strong protection against hacks and theft.
Staking and Rewards	The exchange offers limited options for staking and earning rewards, which may not appeal to users looking for passive income opportunities.
Mobile App and Desktop	The mobile and desktop applications are robust, providing a good user experience with all necessary features accessible on the go.
Customer Service	Customer service is responsive, addressing user queries effectively, but the lack of 24/7 support could be a drawback for users in different time zones.
Deposit and Withdraw	Independent Reserve supports multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, though bank transfers can be slower.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.

Fees

Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average.

Pros

Tiered Fee Structure: Trading fees decrease with higher volumes, starting at 0.50% and going down to 0.02% for large traders.
Low Cryptocurrency Withdrawal Fees: For example, Bitcoin withdrawal fees are 0.0003 BTC, significantly lower than the global industry average.
No Deposit Fees for Large Transfers: Electronic Fund Transfers over AUD 100 and SWIFT transfers over AUD 5,000 are free.

Cons

Read more about fees in Independent Reserve

Independent Reserve’s Commissions

Independent Reserve implements a tiered fee structure to incentivize higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50%, which can decrease to as low as 0.02% depending on the user’s 30-day trading volume. Here is a detailed breakdown of the fee structure:

Trading Fees:

0 AUD – 50,000 AUD: 0.50% fee
50,000 AUD – 100,000 AUD: 0.48% fee
100,000 AUD – 200,000 AUD: 0.46% fee
200,000 AUD – 300,000 AUD: 0.44% fee
300,000 AUD – 400,000 AUD: 0.42% fee
400,000 AUD – 500,000 AUD: 0.40% fee
500,000 AUD – 600,000 AUD: 0.38% fee
600,000 AUD – 800,000 AUD: 0.36% fee
800,000 AUD – 1,000,000 AUD: 0.34% fee
1,000,000 AUD – 1,200,000 AUD: 0.32% fee
1,200,000 AUD – 1,400,000 AUD: 0.30% fee
1,400,000 AUD – 1,600,000 AUD: 0.28% fee
1,600,000 AUD – 1,800,000 AUD: 0.26% fee
1,800,000 AUD – 2,000,000 AUD: 0.24% fee
2,000,000 AUD – 2,500,000 AUD: 0.22% fee
2,500,000 AUD – 3,000,000 AUD: 0.20% fee
3,000,000 AUD – 3,500,000 AUD: 0.18% fee
3,500,000 AUD – 4,000,000 AUD: 0.16% fee
4,000,000 AUD – 4,500,000 AUD: 0.14% fee
4,500,000 AUD – 5,000,000 AUD: 0.12% fee
5,000,000 AUD – 10,000,000 AUD: 0.10% fee
10,000,000 AUD – 15,000,000 AUD: 0.08% fee
15,000,000 AUD – 30,000,000 AUD: 0.07% fee
30,000,000 AUD – 50,000,000 AUD: 0.06% fee
50,000,000 AUD – 100,000,000 AUD: 0.05% fee
100,000,000 AUD – 150,000,000 AUD: 0.04% fee
150,000,000 AUD – 200,000,000 AUD: 0.03% fee
Over 200,000,000 AUD: 0.02% fee.

Deposit Fees:

EFT (Electronic Fund Transfer): Free for deposits over AUD 100.
SWIFT Transfer: Free for deposits over AUD 5,000; AUD 15 fee below this amount.
Cryptocurrencies: Free.

Withdrawal Fees:

AUD Withdrawals: Free.
Non-AUD Withdrawals: AUD 20 fee.
Cryptocurrency Withdrawals:
- Bitcoin (BTC): 0.0003 BTC.
- Ethereum (ETH): 0.001 ETH.

Additional Notes:

Independent Reserve does not charge different fees for makers and takers; it uses a flat fee model.
The platform’s competitive withdrawal fees, especially for Bitcoin, are significantly lower than the global industry average, making it a cost-effective choice for users.
The exchange’s fee structure is designed to balance user-friendliness for beginners and economic efficiency for high-volume traders, ensuring an engaging trading environment for all levels of market participants.

Product selection

Independent Reserve offers a variety of services and products tailored to both novice and experienced cryptocurrency traders. The platform provides access to numerous major cryptocurrencies, enabling users to buy, sell, and trade digital assets with ease. Independent Reserve supports popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple, and includes features like automatic recurring purchases, which allow users to invest regularly in their chosen assets without needing to place each order manually. This feature is particularly useful for those who prefer a systematic investment approach. In addition to trading services, Independent Reserve provides advanced tools for experienced traders, including detailed market analysis, order book visibility, and real-time pricing updates. The platform also offers secure storage options, ensuring users’ assets are protected through a combination of cold and hot wallets. Educational resources and responsive customer support further enhance the user experience, making Independent Reserve a comprehensive and reliable choice for cryptocurrency trading.

Pros

Cons

Read more about product selection in Independent Reserve

Detailed Services and Products Offered by Independent Reserve

Independent Reserve, an Australian-based cryptocurrency exchange, provides a comprehensive range of services and products tailored to both novice and experienced traders. Here’s an extensive overview of what the platform offers:

Cryptocurrency Trading

Independent Reserve supports trading in over 30 cryptocurrencies, including major coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), as well as a variety of popular altcoins. This selection, while not as extensive as some global competitors, includes a solid mix of well-established and emerging digital assets.

Fiat Currency Support

The exchange supports multiple fiat currencies, including Australian Dollar (AUD), New Zealand Dollar (NZD), United States Dollar (USD), and Singapore Dollar (SGD). This makes it accessible and convenient for users in Australia, New Zealand, and Singapore to trade and manage their funds.

Mobile App

Independent Reserve offers a mobile app available for both iOS and Android devices. The app allows users to trade, monitor portfolios, and track price movements on the go. It is designed to be user-friendly and caters to both beginners and experienced traders .

OTC Trading Desk

For institutional investors and high-net-worth individuals, Independent Reserve provides an over-the-counter (OTC) trading desk. This service facilitates large-volume trades with minimal market impact, offering personalized service and deeper liquidity.

Auto-Trading Features

The platform includes auto-trading functionalities, enabling users to automate their trading strategies. These features help in scheduling purchases, managing investments in specific cryptocurrency baskets, and executing auto-purchases upon fund deposits .

Perth Mint Gold Token (PMGT)

Independent Reserve supports trading of the Perth Mint Gold Token, a digital token backed by physical gold. This unique offering provides a way for users to invest in gold via a blockchain-based asset.

Educational Resources

The exchange offers extensive educational materials to help users understand the cryptocurrency market better. These resources include guides, tutorials, and articles that cover various aspects of crypto trading and investing.

Customer Support

Independent Reserve is known for its robust customer support, which includes a detailed help center, email support, and a ticketing system. The support team is responsive and well-trained to handle a wide range of queries and issues .

Security Measures

Security is a top priority at Independent Reserve. The exchange employs two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its assets. Regular security audits and compliance with local regulatory standards further ensure the safety of user funds and data .

API Access

For advanced users and developers, Independent Reserve provides API access. This allows for the integration of custom trading tools and strategies, making it easier to automate and optimize trading activities .

Compliance and Regulation

Independent Reserve is registered with AUSTRAC and adheres to strict anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This compliance framework adds an extra layer of trust and security for users .

Summary

Independent Reserve offers a well-rounded suite of services and products that cater to both individual and institutional traders. From a diverse range of supported cryptocurrencies and fiat currencies to advanced trading features and strong security measures, the exchange provides a reliable and user-friendly platform for crypto trading. Its commitment to regulatory compliance and customer support further enhances its appeal as a trusted exchange in the crypto space .

Account opening

Opening an account on Independent Reserve is a straightforward and user-friendly process, designed to accommodate both novice and experienced users. The registration process begins with providing basic personal information, such as your full name, email address, and phone number. Next, you’ll need to verify your identity by uploading a government-issued ID and proof of residence, which typically involves a utility bill or bank statement. This verification process is crucial for compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, ensuring the platform’s security and legitimacy. Once your documents are submitted, verification usually takes a short time, often within one business day. After your account is verified, you can proceed to deposit funds and start trading. Independent Reserve offers various funding methods, including bank transfers and cryptocurrency deposits, making it convenient for users to start their trading journey. The platform’s intuitive interface and comprehensive support resources further simplify the account opening process, making it accessible even for those new to cryptocurrency trading.

Pros

User-Friendly Registration: The sign-up process is straightforward, making it easy for beginners to start trading quickly.
Multiple Deposit Methods: Supports a variety of deposit options, including bank transfers, SWIFT, Osko, and PayID.
Strong KYC Verification: Ensures compliance with regulations and enhances account security.

Cons

Read more about account opening in Independent Reserve

Detailed Account Opening Process for Independent Reserve

How to Sign Up on Independent Reserve

Create an Account
- Visit the Website: Go to the Independent Reserve website.
- Sign Up: Click on the “Sign Up” button and fill out the registration form with your email, password, and other required details.
- Email Verification: You will receive a verification email. Click the link in the email to confirm your registration.
Verify Your Account
- KYC Process: Complete the Know Your Customer (KYC) verification by uploading required identification documents (e.g., photo ID, proof of address). This step ensures compliance with regulatory standards and enhances security.
Fund Your Account
- Deposit Methods: Independent Reserve supports multiple deposit methods, including EFT (Electronic Funds Transfer), SWIFT, Osko, and PayID.
- Instructions: Follow the on-screen instructions to deposit funds. Ensure that you use the correct reference number provided to attribute the deposit correctly to your account.
Start Trading
- Navigate to Trading Interface: Once funds are deposited, navigate to the trading interface. Select the cryptocurrency you wish to trade and place your order.
- Order Types: Independent Reserve supports various order types, including market and limit orders. Specify the amount and price, review your order details, and confirm to execute the trade.
Withdraw Funds
- Withdrawal Process: To withdraw funds, go to the ‘Accounts’ section, select the currency to withdraw, enter the withdrawal details, and confirm the transaction. Withdrawals can be made to bank accounts or cryptocurrency wallets.

How to Use Independent Reserve

Registration and KYC: After signing up and completing KYC verification, users can access the platform’s full features. The verification process ensures regulatory compliance and enhances security. Funding Your Account: Deposits can be made in various fiat currencies through multiple methods. Follow the deposit instructions carefully to ensure a smooth transaction. Trading: The trading interface is user-friendly, allowing both beginners and experienced traders to execute trades easily. The platform supports various order types and provides real-time market data. Account Types: Independent Reserve offers standard accounts for individual users and institutional accounts for larger traders and organizations. Institutional accounts have access to additional features like the OTC trading desk. Depositing Money: Detailed instructions for depositing funds are available on the platform, making it easy for users to fund their accounts and start trading.

Security

Independent Reserve takes security very seriously, implementing several robust measures to protect its users’ assets and data. The platform employs advanced encryption technology to secure transactions and data storage, ensuring that users’ personal and financial information is well-protected from potential cyber threats. Additionally, Independent Reserve offers two-factor authentication (2FA), providing an extra layer of security that requires users to verify their identity through a secondary device. This significantly reduces the risk of unauthorized access to accounts. Independent Reserve is a regulated exchange, adhering to stringent compliance requirements set by relevant financial authorities. This regulatory oversight helps ensure that the platform operates transparently and in the best interest of its users. Furthermore, the exchange maintains a secure environment by segregating customer funds from its operational funds, which protects users’ assets in the event of any financial instability within the company. Despite these strong security measures, it is always advisable for users to follow best practices in safeguarding their own information and assets when engaging in cryptocurrency trading.

Pros

Comprehensive Security Measures: Independent Reserve employs a multi-layered approach to security, including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its assets.
Regulatory Compliance: The exchange is registered with AUSTRAC and adheres to strict anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, ensuring a secure and compliant trading environment.
Regular Security Audits: Independent Reserve conducts regular audits and penetration testing to identify and mitigate potential vulnerabilities, maintaining a high level of security for user funds and data.

Cons

Read more about security in Independent Reserve

Independent Reserve Review: Security Section

Is Independent Reserve Legit? Independent Reserve is a well-established cryptocurrency exchange, operating since 2013. Based in Sydney, Australia, it is known for its compliance with local regulations and its membership in the Australian Digital Commerce Association (ADCA). The exchange also reports to AUSTRAC, ensuring adherence to stringent anti-money laundering standards. Regulation Independent Reserve operates under the regulatory framework of Australia, which is among the strictest globally. The exchange’s compliance with local laws and regulations provides users with an additional layer of trust and security. Its adherence to AUSTRAC’s guidelines ensures that all transactions are monitored for any suspicious activity, further enhancing its legitimacy and reliability. Is Independent Reserve Safe? Independent Reserve prioritizes the security of user funds and personal information. It employs several robust security measures to protect its users:

Cold Storage: Over 97% of cryptocurrencies are stored in cold storage, ensuring that the majority of assets are kept offline and away from potential hackers. These funds are stored in geographically dispersed vaults with extensive physical security.
Two-Factor Authentication (2FA): Users can enable 2FA to add an extra layer of protection to their accounts. This security measure requires a second form of verification during login, significantly reducing the risk of unauthorized access.
Encryption and Secure Data Centers: All user data is encrypted multiple times and stored in secure data centers in Australia. These data centers are equipped with intrusion detection systems and are continuously monitored to prevent unauthorized access.
Regular Audits and Penetration Testing: Independent Reserve conducts regular security audits and external penetration testing to identify and address any potential vulnerabilities. This proactive approach ensures that the platform remains secure against evolving threats.
Withdrawal Whitelisting: Users can set up withdrawal whitelists, which specify approved wallet addresses for fund withdrawals. This feature adds an additional layer of security against unauthorized withdrawals.

Conclusion

Independent Reserve stands out as a secure and reliable cryptocurrency exchange, thanks to its rigorous security measures and regulatory compliance. With a strong emphasis on safeguarding user assets and personal information, it provides a trustworthy platform for trading cryptocurrencies. While the platform may lack some advanced features desired by experienced traders, its robust security protocols make it a solid choice for users prioritizing safety and regulatory adherence.

Customer service

Independent Reserve offers a reliable customer service system that includes several channels for user support, such as email, phone support, and a detailed help center. The email support is particularly noted for its thorough and timely responses, often addressing user queries within 24 hours. The platform also provides phone support for more immediate concerns, which is a significant advantage for users needing quick assistance. Furthermore, the help center is comprehensive, covering a wide range of topics to help users navigate the platform and resolve common issues on their own. However, some users have reported occasional delays in response times during peak periods, which can be frustrating for urgent issues. Additionally, while the help center is extensive, it may not always cover more complex or specific inquiries, necessitating direct contact with customer service. Overall, Independent Reserve’s customer service is solid and dependable, but there is room for improvement in handling high-demand periods more efficiently.

Pros

Comprehensive Help Center: Independent Reserve offers a well-resourced help section with articles that address common issues and provide educational content to assist users in getting started and navigating the platform.
Efficient Support Ticket System: The exchange employs a ticket-based support system that requires users to log in to their accounts to submit requests. This system ensures that inquiries are tracked and addressed by knowledgeable staff.
Email Support: Users can contact the support team via email for more detailed or complex issues. This method provides a personalized approach to customer service.

Cons

No Live Chat or Phone Support: Unlike some competitors, Independent Reserve does not offer live chat or phone support, which can delay resolution times for urgent issues.
Mixed Customer Reviews: While many users praise the professionalism and helpfulness of the support team, some reviews mention delays in response times, leading to a mixed overall satisfaction rating.

Read more about customer service in Independent Reserve

Independent Reserve: Customer Service and Support

Customer Support

Independent Reserve offers a robust customer support system designed to assist users efficiently. The exchange provides a comprehensive help center filled with articles and guides addressing common issues and providing educational content. For more specific inquiries, users can submit a support ticket through their account. The support team is known for its professionalism and quick response times, typically resolving issues within 24 hours.

Reputation and Customer Feedback

Customer feedback for Independent Reserve is generally positive, though there are some mixed reviews. On Trustpilot, the exchange has an average rating of 3.6 out of 5 stars from 50 reviews. Many users praise the platform for its user-friendly interface and reliable support, while some criticisms focus on occasional delays in response times. Overall, the exchange is recognized for its strong commitment to security and regulatory compliance, earning it a good reputation among its users.

Contact Methods

Independent Reserve offers several ways for users to get in touch with their support team:

Help Center: A dedicated section on the website with FAQs and educational articles.
Support Ticket: Users can submit a ticket through their account for more personalized assistance.
Email Support: Available for detailed inquiries.
Social Media: Active profiles on Facebook, Twitter, and LinkedIn, where users can also seek support.

Response Time

The typical response time for support tickets is within 24 hours. Email inquiries are also addressed promptly, with most responses provided within a day. This quick turnaround helps ensure that users’ issues are resolved efficiently, contributing to a positive support experience.

Additional Information

Independent Reserve is committed to providing high-quality customer support and continuously improving its service. The support team is incentivized to maintain quick and effective response times, ensuring that users can rely on timely assistance. While there is no live chat or phone support, the available channels are effective in addressing most user concerns.

In conclusion

Independent Reserve’s customer service is robust, with multiple contact methods and generally positive feedback. Users can expect a high level of support, making it a reliable choice for both new and experienced cryptocurrency traders.

Is Independent Reserve Right for You?

Ideal for Security-Conscious Users Independent Reserve is a highly secure platform, making it suitable for users who prioritize the safety of their assets. The exchange employs robust security measures, including two-factor authentication (2FA), cold storage for the majority of funds, and regular external audits and penetration testing. These features ensure a secure trading environment and protect user funds from potential threats .
Suitable for Beginners and Intermediate Traders The platform offers a user-friendly interface and comprehensive educational resources, making it accessible for beginners. Independent Reserve’s simple and straightforward trading experience is designed to cater to users with varying levels of trading experience. Additionally, the support for multiple fiat currencies (AUD, NZD, USD, SGD) and various payment methods (EFT, SWIFT, Osko/PayID) makes it convenient for new users to deposit funds and start trading .
Best for Australian, New Zealand, and Singaporean Users Independent Reserve is particularly beneficial for users based in Australia, New Zealand, and Singapore due to its strong regulatory compliance and tailored services for these regions. The exchange’s adherence to local laws and regulations, coupled with its membership in the Australian Digital Commerce Association (ADCA), ensures a high level of trust and reliability. Furthermore, the exchange supports fiat currencies from these regions, providing an added layer of convenience for local users .

Independent Reserve compared to other crypto exchanges

Threenvest score

Fees

≤0,50%

US Legal

–

Security

High 4,6/5

On the exhange website

Threenvest score

4,8

Fees

≤0,10%

US Legal

Security

High 4,9/5

binance us

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

Available Cryptocurrencies and Countries on Independent Reserve

Independent Reserve supports a total of 25 cryptocurrencies, providing a selection of major coins and popular altcoins for trading. Key cryptocurrencies available include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), among others .

Unavailable Cryptocurrencies Notably, some emerging or less popular cryptocurrencies may not be available on Independent Reserve, limiting options for users looking to trade niche coins. Specific unavailable cryptocurrencies are not detailed in the provided information, but users seeking a wider variety may need to consider other exchanges.
Available Countries Independent Reserve primarily caters to users in Australia, New Zealand, and Singapore. It also supports clients from various other countries globally, though it does not serve residents of the United States due to regulatory restrictions . This focus on specific regions helps ensure compliance with local regulations and provides a tailored service to users in these areas.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Bitcoin Cash (BCH)
Cardano (ADA)
Chainlink (LINK)
Stellar (XLM)
EOS (EOS)
Dogecoin (DOGE)
Polkadot (DOT)
Uniswap (UNI)
Aave (AAVE)
Compound (COMP)
SushiSwap (SUSHI)
Yearn Finance (YFI)
Solana (SOL)
Shiba Inu (SHIB)
Tether (USDT)
USD Coin (USDC) .

Main countries where you can open an account

Australia
New Zealand
Singapore

FAQs

How do I create an account on Independent Reserve?

Visit the Independent Reserve website and click “Sign Up.” Provide your email address, create a password, and complete the verification process, which includes identity verification to comply with KYC regulations. Once verified, you can start depositing funds and trading.

What cryptocurrencies can I trade on Independent Reserve?

Independent Reserve supports around 30 cryptocurrencies, including major ones like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and popular altcoins such as Cardano (ADA) and Polkadot (DOT).

How do I withdraw funds from Independent Reserve?

To withdraw funds, log in to your account, go to the ‘Accounts’ section, and select the currency you wish to withdraw. Enter the withdrawal amount and details of your bank account or crypto wallet. Confirm the transaction, keeping in mind potential fees and processing times.

How do I deposit funds into my Independent Reserve account?

Log in to your account, navigate to the ‘Accounts’ section, and select ‘Deposit.’ Choose your preferred deposit method, such as bank transfer (EFT), POLi, or cryptocurrency transfer, and follow the instructions provided.

What are the fees for trading on Independent Reserve?

Trading fees are based on a tiered structure, starting at 0.50% and decreasing with higher trading volumes. Deposits are generally free, but withdrawal fees vary depending on the method and currency used. For example, Bitcoin withdrawals are charged at 0.0003 BTC, which is below the industry average.

Can I use Independent Reserve from my country?

Independent Reserve primarily serves users in Australia, New Zealand, and Singapore. However, residents of certain countries, including the United States, China, and North Korea, are restricted from opening accounts due to regulatory reasons.

How secure is Independent Reserve?

Independent Reserve uses robust security measures, including two-factor authentication (2FA), cold storage for the majority of funds, regular security audits, and encryption of sensitive data. These practices ensure a high level of security for user assets and personal information.

Final opinion on Independent Reserve

Independent Reserve stands out as a robust and reliable cryptocurrency exchange, especially for users in Australia, New Zealand, and Singapore. Its strong regulatory compliance and adherence to AUSTRAC guidelines provide a trustworthy trading environment. The platform’s focus on security, with measures like two-factor authentication, extensive cold storage, and regular security audits, ensures the safety of user assets. Additionally, the user-friendly interface and comprehensive educational resources make it accessible for beginners, while the support for multiple fiat currencies and various payment methods adds convenience.

However, Independent Reserve does have its limitations. The exchange lacks some advanced trading features and a broader selection of niche cryptocurrencies found on larger platforms. The absence of live chat and phone support can also be a drawback for users needing immediate assistance. Despite these weaknesses, Independent Reserve’s commitment to security, regulatory compliance, and user education makes it a solid choice for both new and experienced traders. At Threenvest, we recognize Independent Reserve as a reliable option for those prioritizing security and regulatory adherence in their cryptocurrency trading journey.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.