page title icon Independent Reserve – A high quality exchange

What is Independent Reserve?

Independent Reserve is an established cryptocurrency exchange in Australia that deals with daily trading and crypto investing. The firm came to be in 2013, Sydney Australia, and was invented by Adam Tepper and Adrian Przelozny.

It is now is a popular exchange of choice of many Australians and Kiwis. The exchange is part of the Australian Digital Commerce Association (ADCA) and also a certified audited member of Blockchain Australia. Independent Reserve was one of the first exchanges to get regulated by AUSTRAC.


Independent Reserve offers multiple of features as listed below:

  • Auto Trader
    Crypto purchase and deposits on automatic trading
  • Tax Estimater
    Figure out taxation on your funds
  • Over the Counter Trade
    Make easy OTC large trade through VIP desk
  • Custom Limit Orders
    Buy & Sell with set parameters like stop loss, margin etc
  • Premium Accounts
    Insured account facility to protect from theft or hacks
  • Multiple Altcoin
    A range of highly liquid altcoins available to trade in.

How does it work?

To start trading on Independent Reserve you have to first register an account by passing through some verification measures. Upon verification and activation of account you can deposit some funds, check the spreads and margins, select the trade you want to make and buy and sell according to your choice. The exchange works in the same way generally all crypto exchanges do. You have the choice to keep the money in the online wallet on Independent Reserve or send your funds to an external wallet for safe keeping. Independent Reserve has a wide range of coins to trade it.

Which currencies does it support?

Independent Reserve trades in up to 24 digital assets which can be traded with fiat currencies, coins, and altcoins and DeFi tokens.

FIAT Currencies:

  • Australia Dollars
  • US Dollars
  • New Zealand Dollars

Popular Crypto currencies:

  • Bitcoin
  • Ripple
  • Ether
  • EOS
  • LINK
  • and 19 more pictured below..

Which countries does it support?

Independent Reserve exchange allows users from the countries mentioned below as registered users to trade cryptocurrency:

  • 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
  • United Kingdom.

Is Independent Reserve safe?

Independent Reserve works in a fail-over environment to maintain the security of their service. They use remote core servers that keep the data safe in case of theft or hack. These servers are based in Tier 3 Data Centre that ensures maximum protection and zero data loss.  All user accounts are protected with Two Factors Authorization and highly encourage users to set this up when making their accounts.

 The customer data and information is encrypted multiple times using geographically dispersed private keys. The cold storage used for keeping track of funds is multi-layer encrypted and kept in vaults. The exchange also refrains users from using random IP addresses and block access in such cases.

Is Independent Reserve regulated?

Independent Reserve is a legitimate company and is registered with AUSTRAC, the regulatory body overseeing financial laws in cryptocurrency industry, cybercrimes in Australia. It also has an ABN and has been certified by the Australian Digital Currency Association. It is certified and audited by Bitcoin Australia.

Payment methods

To deposit funds into your Independent Reserve account, you can use these methods:

  • Cryptocurrency
  • Osko
  • PayID
  • EFT

Independent Reserve fees structure

The highlights:

  • The trading fees is based on trading volume of 30 days from 0.5% to lowest 0.02%
  • It is calculated every 4 hours
  • Crypto withdrawals depending on network congestion and mining fee
  • No withdrawal fees for AUD withdrawals
  • For other countries, $20 applies for USD or NZD withdrawals

Transaction Limits on Deposits & Withdrawal

There are no limits to the amount you can deposit into your Bitcoin or Ether wallet on Independent Reserve. There are no withdrawal limits to cash out, but there are withdrawal minimums.  For cryptocurrencies there are limits to the minimum you can cash out which are as follows:

The minimum withdrawal limits are as follows:

  • Bitcoin: 0.001 XBT
  • Ethereum: 0.01 ETH
  • Bitcoin Cash: 0.001 BCH
  • Litecoin: 0.01 LTC

How fast funds come in?

Independent Reserve is criticized much for its slow speed when it comes to transfer of funds. It takes 1-2 business days for Electronic Fund Transfer Deposits to come through. International customers who deposit funds in USD or NZD can see funds in accounts in up to 3 days.  Osko and Poli Deposits take one minute.  SWIFT transfers take 3 days.

The cryptocurrency deposits are super-fast though, which is absolutely contrary to the fiat situation. Crypto deposits can be seen in your e-wallets in 15minutes and good to use in 20minutes.

When it comes to withdrawals Australian Banks take one day whereas for International Non-USD transaction it takes 2-3 days.

How to sign up and trade on Indpendent Reserve

It is a free and an easy process to follow. Simply register on the Independent Reserve website by supplying your personal details and choosing a username and strong strength password. Please make sure whatever details you provide are latest, verifiable and accurate. You will be asked for the following:

  • Primary telephone number – as a 2FA detail
  • Secondary telephone number: – as a 2FA detail
  • Your Personal Details: details about you that can be checked against the country database for fraudulent behavior, things like ID number or license number etc.

How long does the verification process take?

The verification process is claimed by Independent Reserve as ‘instant’. However the activation process is not the same. Independent Reserve according to this Reddit thread sends a Priority Mail in post which contains the activation code. The user then has to apply the activation code to their accounts.   Some users criticize this unnecessary activation code check as a length slow process to begin trading.

Australian resident are eligible for a FastTrack account with Independent Reserve, which allows them to register, deposit and trade within 5 minutes.

Does Independent Reserve have a secure wallet?

Independent Reserve has a secure multi coin wallet on their platform for its users. It comes with multi-factor authentication and encrypted to ensure maximum protection. The premium account at Independent Reserve also offers insurance to users wanting to deal in large amounts of crypto currency.

Sending & receiving coins on Independent Reserve

How do you send coins from Independent Reserve?

You can send coins and tokens from your Independent Reserve wallet to other external address wallets through the platform as per block chain routine. General transaction charges/ mining fees will be according to your transaction amount. Transaction charges will depend on the coin being transacted and how busy the block chain network is.

How do you withdraw money from Independent Reserve?

You can withdraw money (Australian Dollars/USD/NZD) from Independent Reserve by connecting your Australian Bank Account or International Banks. Once you enter the amount you wish to withdraw, the transfer is initiated and you can expect to receive the funds ranging from 1-3 days.

Independent Reserve user interface

The Independent Reserve‘s User Interface is no fuss drama free interface that lays down crucial details in a great comprehensive dashboard. Users can easily navigate the tabs and make buy/sell trade by following the step by step process. There are also live market charts for technical analysis but are somewhat limited in functionality.

Does Independent Reserve have an app?

Independent Reserve doesn’t have an app but does have an optimized website for mobile experience. This means you can easily access the platform through your mobile and also make trades.

Independent Reserve customer services & satisfaction

Independent Reserve has a fast and responsive customer support team. You can contact them through various channels. For account sensitive issues best is to contact them via the Support Screen chat. For general queries its best to email them at [email protected]. They also have an extensive FAQ section on their website which can help answer almost all predictable questions regarding the platform.

Independent Reserve ranks high on customer satisfaction. Most of its users are happy with how the platform works, ease of making trades, fees margin and withdrawals.

Bottom line

Independent Reserve appears to be comprehensive, detailed and easy to use cryptocurrency trading platform for Australian and New Zealand residents.

Pros and Cons


  • It’s secure
  • It’s regulated
  • Accepts 3 Fiat currencies
  • Low or no-fee deposits and withdrawal
  • Easy buy directly from AUD
  • Has a secure wallet
  • User friendly interface


  • No Mobile App
  • Slight delay in deposits and withdrawals
  • Withdrawal limits

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