Hi Aayush,We are happy to hear you find the platform so easy to use. Overall, a very reliable exchange for buying and selling crypto in Australia. Their customer support team was helpful and quick to respond. We are also glad our customer support has been so helpful for you.
I’ve been really impressed with the beginner friendly platform
- Investing in cryptocurrencies comes with significant risk.
- Hi Kavin,We are happy to hear you find the platform so easy to use, we appreciate the feedback.
- These phone calls are made to ensure customers are safe and accounts have not been compromised.
- Yes, CoinSpot is safe from hackers as it uses two-factor authentication, SSL encryption, firewall protection, anti-phishing measures, and regular audits to ensure the safety of your account and data.
- CoinSpot maintains a straightforward fee structure, allowing users to know exactly what they’ll pay before trading or transferring funds.
It requires all users to complete KYC and conducts regular security audits. On review platforms, it typically scores above 4 out of 5 (e.g., 4.2/5 on Product Review) and maintains a Trustpilot rating of around 4.3/5 based on thousands of reviews. This is largely due to the platform’s deep liquidity across 500 digital assets. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
Hi,CoinSpot has always made the safety and security of customer funds our number one priority. I’ve used OTC several and haven’t had any issues, and had low fees each time. Their customer support has been… The platform is simple, secure, and easy to navigate.
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CoinSpot is one of Australia’s oldest and most reliable crypto exchanges for digital currencies, with more than 2.5 million users. Jed, a digital asset analyst since 2015, founded Datawallet to simplify crypto and decentralized finance. CoinSpot is one of the largest exchanges in Australia, with over 3 million users and support for more than 500 assets.
Hi,Thank you for the review, we appreciate it. Hi,Thank you for the positive review, we appreciate it. Hi Carol,Thank you for the feedback, we appreciate it!
Users can select which cryptocurrency to spend at any time, instantly top up balances, or switch between coins directly through the app. The CoinSpot Card is a prepaid debit card that lets Australians spend cryptocurrency anywhere Mastercard is accepted. Compared to other Australian exchanges like Swyftx and Independent Reserve, CoinSpot offers better oversight from national regulators and stronger security measures. On the security side, CoinSpot is ISO certified for information security management and stores the majority of client assets in offline cold wallets to reduce hacking risks.
CoinSpot Review ( : Is This Exchange Safe and Legit?
CoinSpot will buy individual coins and keep them in your wallets. They let you diversify your crypto holdings and explore different blockchain projects. If you want to buy various cryptos in one go, CoinSpot’s Bundles are for you. You can also see your referrals and earnings from your account dashboard. The staking rewards are computed at midnight AEDT and added to your wallet at 10 am AEDT daily. Staking is a way of supporting the network and getting rewards for it.
I also like how it is beginner friendly and gives a large selection of crypto currencies for me to try It’s user-friendly and easier than expected to open an account, while still being safe. Hi,Glad you have found the platform so easy to use! Hi Liz, We are happy to hear you have found the platform so easy to understand. These phone calls are made to ensure customers are safe and accounts have not been compromised.
How does CoinSpot compare to other Australian crypto exchanges?
According to Statista Market Insights, over 10 million Aussies are crypto holders, and CoinSpot has more than 3 million users, accounting for 30% of the market share. Yes, CoinSpot is a good option for beginners due to its user-friendly interface, making it easy to buy, sell, and trade cryptocurrency. CoinSpot has established itself as a notable entity in the cryptocurrency exchange market, particularly in Australia. The platform undoubtedly casts a wide net with its extensive cryptocurrency selection and user-friendly approach. The OTC trading desk caters to high-volume trades with attractive fees while providing personalized support and facilitating buy sell swap transactions.
User-Friendly Interface
You can also set up recurring orders or use the OTC trading service for large transactions.
When you buy a bundle, each coin goes to its own wallet in your account. CoinSpot has a great referral program that gives you a $10 free crypto sign-up bonus for inviting new users. This crypto exchange has over 23 coins you can stake, such as Bitcoin, Ethereum, Cardano, Polkadot, and more.
Hyperliquid vs Binance: Perpetuals, Fees & Security
Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance. All CoinLedger articles go through a rigorous review process before publication.
Read our comprehensive overview of the MEXC exchange covering its trading features, safety measures, pros, and cons. Get Premium daily signal calls, trading insight, updates about the current market, and analytics about hidden crypto gems now. It also charges similar fees to Binance for market trades (0.1% vs 0.1%) but high for instant transactions (1% vs 0.1%). If you want a global cryptocurrency exchange, you may want to try Binance instead. You can start buying or selling crypto using AUD or other coins when your money is in your account.CoinSpot has a huge selection of cryptocurrencies to trade. CoinSpot lets you buy and sell big amounts of crypto with low fees, minimum price slippage, and fast delivery.
- CoinSpot is one of Australia’s oldest and most reliable crypto exchanges for digital currencies, with more than 2.5 million users.
- This fee varies depending on the token and the network traffic.
- CoinSpot is a Melbourne-based Australian exchange launched in 2013 that has grown into the country’s most popular crypto platform.
- While the platform has a stellar reputation for security, you should take steps to protect your account and stay safe from hackers.
CoinSpot lets you earn extra income by locking up your coins on the platform. It has an easy-to-use interface that suits well for beginners. You can check how your withdrawal is going on the “Transaction Tab” of each wallet page. It depends on how much funds they have, how the wallet works, and whether you’ve confirmed your email. This fee varies depending on the token and the network traffic. For Take Profit, Stop & Limit Orders, and Recurring Buy orders, the fee is also 1%.
It’s user-friendly and easier than…
CoinSpot SMSF is a great way to diversify your super fund portfolio with crypto. It supports all payment methods, such as PayID, POLi & Direct Deposit. This means you can deposit and withdraw any coin or token that CoinSpot supports, as well as trade them. You can access your wallet from the website or the app and see your balances and transactions. You can also find answers to frequently asked questions and helpful guides on the support page.
CoinSpot Fees
In 2023, CoinSpot faced a hack where $2 million was stolen from the platform. This means CoinSpot has gone through rigorous external audits to ensure its security measures meet industry best practices. It also supports over 11 fiat currencies, including Australian dollars (AUD). The platform does not accept any other money or payment methods outside Australia. CoinSpot is only for Aussies who have an Australian bank account and mobile phone number.
David has been deeply involved with the cryptocurrency industry since 2017. Elevate your crypto trading career with CoinWire Trading signals. CoinSpot requires all users who want to deposit or withdraw AUD from their platform to undergo KYC (Know Your bitit review Customer) verification. He has a lot of experience in web development and digital marketing.
The heart of the CoinSpot experience lies in trading, and here the platform offers a competitive edge with a starting trading fee of just 0.1% for OTC and market orders. The platform’s bundles offer a treasure trove of diversified cryptocurrencies, and for art and collectible enthusiasts, there’s direct access to the OpenSea NFT marketplace. CoinSpot isn’t just a crypto exchange; it’s an ecosystem brimming with more features to enhance your trading voyage. Navigating through an ocean of digital assets can be daunting, and CoinSpot offers a life raft with its support of major cryptocurrencies, including the likes of Bitcoin, Ethereum, and Bitcoin Cash. Identify the eight cheapest crypto to transfer to your wallet with the lowest fees, and forget all about costly crypto transfers. Read about the Pionex exchange and its trading bots features to automate your crypto trading strategies.