Easily buy and sell a wide range of cryptocurrencies, with fees as low as 0.1%. Yes, CoinSpot is the most trusted and secure exchange in Australia. CoinSpot has over 2.5 million users, and are frequently externally audited. CoinSpot has an app which is available for iOS and Android devices, making it really easy to keep track of your crypto and make trades whenever you like.
CoinSpot Security and Safety
CoinSpot prides itself on offering some of the lowest fees on the market. In fact, the 0.1% CoinSpot commission is quite competitive and definitely lower than what you might find on other crypto exchanges like CoinStash which has trading fees of 0.85%. Thanks to its intuitive UI, wide range of cryptocurrencies and security provisions, CoinSpot can be a great choice for beginners. Experienced traders, on the other hand, will find much to love about this feature-rich platform, but might want more advanced options, such as derivatives or margin trading.
Phone security
The platform supports various popular NFT collections like Invisible Friends and Azukis, allowing users to purchase their favourite digital assets using any cryptocurrency available on the exchange. CoinSpot is a safe crypto exchange with bank-like security that also has received internationally acknowledged ISO certification. It provides around 250+ cryptocurrencies, which users can store in CoinSpot Wallet.
We write product reviews and comparison articles in the field of cryptocurrency. A list displaying all supported banks will appear when you begin the process of a POLi deposit. There is an order textbox to sell or buy cryptocurrencies against AUD. Yes, CoinSpot requires all users wishing to deposit or withdraw AUD to complete KYC (Know Your Customer) verification. This process complies with the regulations stipulated in Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act of 2006. Bybit offers the widest selection, with over 802 cryptocurrencies available, while CoinSpot has more than 400, and Swyftx offers over 310.
- CoinSpot has some of the most competitive rates for fees of any exchange.
- If you are considering joining Coinspot in the future, here are some key factors to consider before making your decision.
- While the platform has a stellar reputation for security, you should take steps to protect your account and stay safe from hackers.
- It provides a read-only API interface for accountants and fund managers to monitor your portfolio.
Payment methods such as PayID, POLi, and Direct Deposit are supported for deposits and withdrawals. CoinSpot features a solid mobile trading app to buy, trade, sell, transfer from the wallet, view price graphs, display coin information and monitor a cryptocurrency portfolio in one place. The CoinSpot app can be downloaded from the Google Playstore or iOS Store. The ease of use of the app has been improved over time and is comparable to the top crypto apps in Australia for buying and sell digital assets with AUD. Coinspot supports several payment methods for depositing funds into an account to buy Bitcoin. The most popular choice to deposit funds into Coinspot is via bank transfer using a direct deposit, POLi or PayID.
Download full list of cryptocurrencies CoinSpot supports
CoinSpot has charted a course through the tumultuous waters of cryptocurrency trading, offering a vessel that’s both secure and inviting for Australian traders. With a user-friendly interface, a variety of features, and a focus on customer support, CoinSpot has anchored itself as a significant player in the Australian crypto exchange market. CoinSpot is registered with Australian regulatory body AUSTRAC and is a member of Blockchain Australia, an organisation that focuses on the safe adoption of blockchain technology.Past hacks. CoinSpot was the first Australian exchange to receive ISO certification in 2020. To obtain this certification, the exchange was audited by SCI Qual International (an accredited JAS-ANZ certification body). The platform has been audited by multiple entities throughout its history, and its data centre has obtained an ISO certificate.
Similarly, it has a 4.2 rating on Product Review based on 1,700+ CoinSpot reviews. As mentioned above in this CoinSpot review, POLi, PayID and Osko transfers are free of charge, while cash deposits and BPAY incur a 2.5% and 0.9% fee, respectively. They had no reason to freeze my account over me sending money to a friend in the US.
- In this sense, it is not dissimilar to Binance’s own NFT marketplace.
- PayID and direct deposits are fee-free, while cash deposits attract a 2.5% fee, card deposits come with a 1.88% fee and PayPal has a 0.5% fee.
- You can deposit AUD fiat money into CoinSpot without paying any fees if you use POLi, PayID, or Direct Deposits.
What is the minimum withdrawal from CoinSpot?
Otherwise, if you use cash or cards, you will pay 2.5% and 2.58%, respectively. Discover the ins and outs of the Australian coinspot reviews crypto platform, exploring its features, usability, and safety measures. To create a CoinSpot account, you must be an Australian resident, over 16 years old, and provide a valid form of ID for the KYC verification process. Simply visit the CoinSpot website, click ‘Register’, and follow the prompts to get started. If you want to avoid fees, just stick with PayID or direct bank transfers.
You can deposit any available cryptocurrency on Coinspot Wallet. Further, no additional fee gets incurred for the withdrawal of any token and coin. You will still have to pay the standard transaction/mining fees.
The exchange charges 1% trading fees for instantly buying and selling crypto – but there are no withdrawal fees when cashing out AUD to a bank account. Overall, the pros of using CoinSpot far outweigh the cons, and it’s a highly recommended crypto exchange in Australia for beginners due to its straightforward interface and mobile app. CoinSpot is a great option for beginners and intermediate traders who value an easy-to-use platform, a wide range of cryptocurrencies, and a secure environment.
The platform also has a comprehensive help center and email support. Customer reviews highlight the helpfulness of the support team, which adds to the platform’s credibility. Good customer support can make a significant difference, especially when dealing with financial transactions and technical issues. Security is paramount when choosing a cryptocurrency exchange, and Coinspot takes this seriously. It is fully compliant with Australian regulations and registered with AUSTRAC (Australian Transaction Reports and Analysis Centre), ensuring that it meets high standards for security and transparency.
The company lists a wide array of NFT collections, including Bored Apes and Hashmasks. For people outside of Australia who are looking to make NFT trades, Binance also has a marketplace set up on their platform. It is recognised as Australia’s safest exchange due to its thorough security measures, including ISO certification and registration with Blockchain Australia. There are numerous payment methods to deposit funds in the account. The most common choice is through bank transfer, using a direct deposit, POLi, PayID. BPAY and Cash deposits are not generally preferred as there is a fee.
It was also audited by SCI Qual International (a JAS-ANZ certification body) and awarded the highest ISO standard. Hi Toni,When trading assets in any open market (i.e. cryptocurrency, equities/shares, etc) There is always a difference in price between the buy and sell rate. CoinSpot has been around since 2013 and has never been hacked, and it maintains industry best-practice by storing the vast majority of cryptocurrency in highly secure cold storage. There are also a wide range of customisable security features that users can implement to ensure their account is always safe.
CoinSpot is only for Aussies who have an Australian bank account and mobile phone number. The platform does not accept any other money or payment methods outside Australia. If you want a global cryptocurrency exchange, you may want to try Binance instead. In this CoinSpot review, we will give you the scoop on what sets this exchange apart.
Frozen account
When you buy a bundle, each coin goes to its own wallet in your account. You can do what you want with each currency, like sell or swap them. You can use any device with an internet connection to access your account, portfolio, wallet, and market data.
