Coinspot Review for2024 The Best Crypto Exchange in Australia?

Some exchanges receive terrible reviews on Trustpilot because they are unresponsive to customers’ questions. However, if you want to invest with CoinSpot, there’s no need to worry about this issue. If you’ve been trading crypto for a https://forex-review.net/coinspot-review/ time, you can have an idea of which cryptocurrencies you want to invest in. But if you’re new to cryptocurrencies, you may want to take advantage of CoinSpot’s Bundles, a feature that can be likened to ETFs (Exchange Traded Funds).

The withdrawal fees are free of charge, but network fees are applicable to crypto withdrawals to external wallets. A list displaying all supported banks will appear when you begin the process of a POLi deposit. CoinSpot will charge you a standard transaction fee when you send coins to external wallets.

1. I’ve been using this crypto platform and it’s refreshingly user-friendly.
2. It also provides specialised investment options, like crypto SMSFs for retirement funds, broadening its appeal.
3. CoinSpot SMSF is a great way to diversify your super fund portfolio with crypto.
4. This means that you’ll need to deposit funds with cryptocurrency if you’re based elsewhere.

Investors that deposit AUD will need to convert this into Ethereum before making a purchase and cover the gas fees. A Melbourne-based cryptocurrency exchange, CoinSpot offers a secure and safe platform for selling and buying cryptos. The exchange is considered by many to be one of the best digital currency exchanges Down Under. CoinSpot crypto OTC market offers wealthy Australian investors to make large investments in Bitcoin and other digital assets with a fixed price and no risk of slippage.

Coinspot has a live chat facility that is available Melbourne time between 9am-10pm weekdays, and 10am-8pm on weekends. Alternatively, you can raise a support ticket from within your account. Ultimately, if you’re a non-Australian resident and you need to deposit funds with an everyday debit/credit card or e-wallet, then you’re best off using a more inclusive exchange like Coinbase.

Our CoinSpot review also wants to highlight the platform carries non-fungible tokens (NFTs) and decentralized finance (DeFi) tokens for global banking. Wilson and his team, however, discuss CoinSpot in multiple online forums where the team and users communicate regularly to relay present concerns and hopes for the future. There are different transaction fees for CoinSpot, and I’ll explain the difference here. An order book is positioned below the order boxes which can be useful to see the trading volume and asset liquidity.

The next step includes filling in your personal information in the Account Holder Details section. Here, the document will ask you for your full name, address, a copy of one of your utility bills for proof of address, a government-issued ID for proof of identification, birth date, and phone number. If you’re new to CoinSpot, our CoinSpot review will help you learn how to make a free account in minutes.

Review of the Top Features & Services

You can enter the amount of AUD to spend and choose the amount of crypto to purchase. There are only approximately 15 trading pairs available when using the CoinSpot exchange, and the interface is basic and orders need to be manually entered – which can result in errors. The equivalent amount of Bitcoin is displayed at the current market rate.

Which payment methods do CoinSpot has to offer?

This feature provides you with an opportunity to buy a basket of different cryptocurrencies at the same time. As a result, you can diversify your portfolio quickly without paying multiple fees. Moreover, buying coins in bundles saves a lot of time and fees as well. CoinSpot is one of the safest Australian crypto exchange platforms, with more than 250 cryptocurrencies.

Additionally, CoinSpot participates in the HackerOne Bug Bounty Program, allowing users to report security vulnerabilities for investigation and resolution. CoinSpot has made crypto exchanges as simple as possible by introducing more coins into its platform, keeping users from needing multiple exchanges. CoinSpot includes a secure online wallet to store your recently purchase cryptocurrencies.

Other Coinspot Features

We make every effort to provide accurate and up-to-date information. However, Forbes Advisor Australia cannot guarantee the accuracy, completeness or timeliness of this website. If you’re planning on making a deposit or withdrawal, POLi payments are popular for their limitless requirements. POLi doesn’t require a minimum deposit, although you may only deposit $10,000 per day. Other fee-free deposits include PayID, instant AUD deposits, and direct deposit (via OSKO) transfers to and from your bank account.

💰 Fees

To find out more details about the security features of CoinSpot, click here. SCI Qual conducted an exhaustive examination of CoinSpot’s Information Security Management processes and practices. These rigorous policies and measures are meticulously implemented to thwart unauthorized https://forex-review.net/ access, usage, alteration, or compromise of the organization’s information management systems. CoinSpot uses two-factor authentication (2FA) which requires a Google Authenticator code to access the platform and is now the security benchmark for exchanges around the world.

How would I go about selling a CoinSpot Bundle?

However, the trading fees are too high for active buyers and cryptocurrency traders as the 1% fee will eat into any potential profits. The trading fee to instantly buy, sell, and swap crypto is a flat 1% and 0.1% on the OTC desk and exchange. However, those who are using the platform anyway may prefer trading on the Market to capitalize on the substantially lower fees. Similar to the popular Bitcoin trading platforms, Coinspot exchange includes an order entry box to buy and sell cryptocurrency against Australian Dollars (AUD).

Is CoinSpot available from the US?

The mobile app allows users to buy, sell, trade or transfer from the wallet, view price charts, display cryptocurrency information and monitor your overall account. As an easy to use alternative, CoinSpot arrived on the scene in 2013. Since then Australia’s largest cryptocurrency exchange provides over 100+ cryptocurrencies to buy, sell or trade with AUD.

Remarkably, there are thousands of CoinSpot app reviews on the internet, with users highly appreciating its seamless user interface and other useful features. CoinSpot is an Australian-based cryptocurrency exchange that opened its doors in 2013. Founded by cyber-security expert Russell Wilson, it was one of the country’s first major crypto exchanges. Since its inception, it has consistently provided broad selections of digital assets in the crypto market. CoinSpot is a leading cryptocurrency exchange in Australia that has been operating since 2013.