Strong points
CoinSpot is a centralized cryptocurrency exchange that is revolutionizing the way people invest in digital assets. Founded in 2013, it has become the largest and most popular crypto exchange and trading platform in Australia and currently boasts of having over 2.5 million users.
The platform offers a very wide variety of over 400 cryptocurrencies, all of which can be easily converted to fiat currency at the best rates, including AUD (Australian Dollars). The conversion is instant, allowing you to spend your cryptocurrencies in your everyday life without worrying about delays or unpredictable conversion fees.
But that’s not all – CoinSpot Exchange provides a Mastercard debit card. This allows you to spend your cryptocurrencies at thousands of different outlets online and in person. Regardless of the type of cryptos you have, the debit card will allow you to spend them just as any regular card.
In addition to the wide variety of available cryptocurrencies (400+), CoinSpot also offers crypto interest on 21 tokens so your crypto earns passive income. With a user-friendly interface, 24/7 live chat support, and reasonable fees for all transactions, it’s not hard to imagine why this exchange is so popular.
CoinSpot Exchange has built its reputation over the past decade as one of the most secure and reliable crypto exchange platforms in Australia and beyond. Even with other major exchanges setting up shop in the country, CoinSpot has remained the platform of choice for cryptocurrency users and traders of all experience levels.
CoinSpot has everything you need to get started in the crypto-verse. With an impressive range of 400+ cryptocurrencies ranging from the most popular to rare altcoins, you are sure to find one that meets your needs and preferences. Here’s a sample of those the platform offers:
CoinSpot offers top-notch services and features that provide all users with an all-rounded experience. Advanced functionalities such as automated cryptocurrency portfolio management, real-time price charts, and much more are also available for experienced traders.
Whether you want to buy, sell, trade, or store cryptocurrencies, Coinspot has the necessary tools to do so securely and confidently. Below, we summarize the key features offered by Coinspot:
CoinSpot
CoinSpot
Buying crypto on CoinSpot is very easy especially if you’re in Australia and use AUD as your preferred currency. This is important because you can avoid paying currency conversion fees which may sometimes be quite high.
Thus, this feature provides you with a fast, smooth, and easy buying experience, allowing you to deposit AUD into your CoinSpot account for free and buy your favorite cryptocurrencies with just a few clicks.
The above screenshot shows that you can buy Bitcoin (BTC) instantly on CoinSpot but there is no limitation to the kinds of crypto available for purchase. You can buy many other cryptos listed on the exchange just like this directly with a few clicks using AUD.
Besides, when buying crypto on CoinSpot, you don’t have to wait for another trader to sell you the crypto. The exchange is not just a broker but also keeps crypto in cold storage to sell directly to buyers for a faster transaction.
Thanks to an intuitive and user-friendly interface developed with careful consideration, it is easy to find your way around the CoinSpot platform. With appropriately placed search bars, it only takes a few seconds to get what you need. This seamless and hassle-free experience makes it one of the best crypto platforms in Australia and worldwide.
Did you know you can earn passive income from the cryptos you already own? Staking is a feature that lets you lock up your tokens to a particular crypto project for a certain, sort of like an investment, and earn interest from it.
Coinspot offers staking features for up to 21 different cryptocurrencies including Ethereum, Polkadot, and Cardano. Each coin has varying interest rates, such as BlackCoin (BLK) above with interest reaching up to 8% APY.
This feature provides you with a unique opportunity to generate additional returns on your cryptocurrency investments without having to sell the coins. This is why staking has become a popular investment strategy for those looking to maximize their return on investment.
So, how do you get started? It all starts with the account opening, which we will show you a bit later, and then you can find those cryptocurrencies with the ability to stake. As you shall see, the entire process is a breeze thanks to the platform’s user-friendliness and ease of use.
CoinSpot’s NFT Marketplace offers a unique opportunity for Australian users to buy and sell NFTs easily and securely. Whether you’re an artist looking to sell your unique digital artwork or a passionate collector looking to expand your collection, CoinSpot’s NFT Marketplace is the ideal solution for you.
With a wide range of NFTs available for purchase using various cryptocurrencies, it has never been more convenient to own a unique and valuable digital artwork. All NFTs are stored securely on the exchange so you don’t have to worry about a crypto wallet and other associated risks.
In addition to that, CoinSpot’s NFT Marketplace includes features to help you search for your ideal piece, including the ability to filter NFTs by category and view the latest sales in real-time. Because of this, CoinSpot’s NFT Marketplace is a valuable addition to the Australian exchange platform and adds an exciting new dimension to cryptocurrency investment.
The CoinSpot Mastercard is the perfect marriage between crypto technology and the convenience of a traditional debit card. No need to convert your crypto to fiat every time you want to make a purchase. With the CoinSpot Mastercard, you can directly spend your crypto in any physical store or online.
For many investors, this represents financial freedom, and CoinSpot has brought it directly to your wallet. With the CoinSpot Mastercard, you can have peace of mind that your investment is easily accessible for your daily purchases, all while knowing that the security of your cryptocurrencies is always a top priority.
When you’re looking to buy and sell cryptocurrencies on an exchange platform, it’s important to consider the fees associated with each transaction. On CoinSpot, there are different fees for different transactions.
Here’s an overview of the basic fees charged by Coinspot to help you make an informed decision.
At CoinSpot, you will find a variety of deposit methods to fund your account and, fortunately, the most popular options come with no fees. You can deposit funds for free using POLi, PayID, direct deposit via OSKO, and even cash deposits.
However, if you choose to use BPAY, a deposit fee of 0.9% will apply. Pay attention to the fees associated with the deposit methods you choose to maximize your gains on CoinSpot.
Transaction fees on CoinSpot are a key aspect to consider when using a platform to trade cryptocurrencies. There are different types of fees, each tailored to a specific type of transaction. This means you pay a small commission for each transaction done on the platform.
| Type | Fee |
| Market Orders | 0.1% |
| OTC | 0.1% |
| Instant Buy, Sell & Swap | 1% |
| Take Profit, Stop & Limit Orders | 1% |
| Recurring Buy | 1% |
If you prefer to buy or sell crypto instantly using fiat, the fee is 1%. Although this may seem a bit more expensive, it allows you to avoid waiting to fill your order. Additionally, it enables you to buy or sell any cryptocurrency offered by CoinSpot.
But if you engage in high-volume transactions, the Over-The-Counter (OTC) trading desk may be the best option as it offers instant settlement and lower fees at 0.1%. Finally, for experienced traders, advanced investment tools such as recurring purchases, take profit, stop loss, and limit orders have a fee of 1%.
It is important to understand these different fees before choosing a cryptocurrency trading platform, and CoinSpot has made it transparent to help you decide if this is the best exchange platform for you.
Are you ready to withdraw your gains from your CoinSpot account? No worries! Withdrawal is simple and free for Australian bank accounts. However, if you decide to send your cryptocurrencies to an external wallet outside of CoinSpot, standard blockchain network fees apply based on the cryptocurrency and network congestion.
| Type | Deposit and Withdrawal fees |
| POLi, PayID, Direct Deposits | Free |
| BPAY | 0.9% |
| Cash | 2.5% |
| Card | 2.58% |
| Withdrawal in AUD | Free |
CoinSpot is accessible from any internet-connected device whether on desktop or mobile. On a computer, simply visit the website and click on ‘Markets’ or you can download and install the free CoinSpot app from the Google Play Store or the Apple App Store.
It is an essential tool for serious traders who need to keep an eye on cryptocurrency prices and execute quick buy/sell orders. With the CoinSpot application, you can manage your cryptocurrency portfolio with ease, wherever you are. The rich and user-friendly features of the application make it a must-have for Australian investors.
Here is an overview of what the CoinSpot application offers:
CoinSpot
CoinSpot
You will probably find the interface familiar if you’re a seasoned trader because it is powered by TradingView. This means you have at your disposal all the tools needed for technical analysis within a few clicks to perform in-depth analysis.
Nevertheless, it’s also simple even for newcomers to the cryptosphere and easy to learn both on desktop and mobile. All necessary tools are available within a few clicks and you can search for specific technical indicators if you have any problem.
One of the most appreciated advantages of the application by CoinSpot users is the ease of buying and selling. How does it work? With a simple scroll toward the bottom of the screen, you can see the buy and sell buttons as well as a list of cryptos you have bought to easily track the performance of your cryptocurrency portfolio.
In summary, CoinSpot’s simple user interface is a practical solution for both beginners and seasoned traders, offering a smooth and user-friendly experience for buying and selling cryptocurrencies.
The CoinSpot bonus program is an opportunity for you and your friends to earn $10 in Bitcoin for free deposited right into your account. All you need to do is share your unique referral code with your friends and family, and once they register a CoinSpot account, make their first AUD deposit, and get verified, both parties receive the reward.
This is a unique service offered by CoinSpot that allows you to diversify your portfolio by purchasing a variety of digital assets in a single transaction. This minimizes fees incurred and saves you time because you only make one transaction. The ‘Top 10 Market Cap’ bundle is our favorite because it includes the top ten coins based on market capitalization.
Diversification is always advised as a way to protect your portfolio from drawdown and market volatility. Because of this, CoinSpot Bundles help you protect your capital and perhaps increase the overall performance of your portfolio.
There are different types of accounts available on CoinSpot that are designed to meet the specific needs of traders of all levels and sizes. Whether you are investing for yourself or a group or institution, you can find an account that suits your financial goals.
This account is designed for individual traders and investors who are only managing their funds. It’s also the most recommended because setting up a personal account doesn’t require a lot of documentation and you can very quickly start buying, selling, and trading cryptocurrencies on the easy-to-use CoinSpot application.
Yet users still have full access to the crypto market and can manage their cryptocurrency portfolio, check real-time prices, and trade coins with just one click. This account should also be suitable for individuals who are new to cryptocurrency trading and looking to familiarize themselves with the basics of the industry.
For professional investors and traders, this is the account for you because not only do you get access to the crypto market but assistance from CoinSpot specialists to help you set it up. This is important for legal reasons especially if you are investing on behalf of others.
Once the setup is done, you also enjoy advanced, pro-level trading features to get that edge for your business. Plus, pro users get reduced transaction fees and faster processing because of the higher trading volumes typically involved in business.
If you’re managing a super fund for you and/or your family, this will be the appropriate account because it allows you to easily manage your tax and audit obligations. Here too, an onboarding specialist will guide you through the process to get started.
It provides high transaction limits, advanced security services, custom reporting functions, and dedicated customer support to meet the specific needs of institutional clients.
CoinSpot
CoinSpot
All cryptocurrency exchange platforms should prioritize the security of their users. Users often entrust substantial funds to these platforms and depend on their security measures to protect them against cyber criminals and fraud. Aside from the funds, a trustworthy platform should also use advanced encryption methods to protect its users’ data.
This is why it’s always a shame when security measures fail and investors lose money or have their identities revealed. So, where does CoinSpot Exchange stand regarding security? Here are some highlights of the platform’s security measures.
Add an extra layer of security by enabling two-factor authentication (2FA). With this feature turned on, even if someone gets their hands on your password, they still won’t be able to access your account without the 6-digit authentication code that is sent to your email and/or mobile as a secondary security measure.
Choose a unique, custom anti-phishing phrase that will be displayed every time you log in with two-factor authentication. This proves that you are on the official CoinSpot website and not on a fake, phishing site attempting to steal your information and password.
Set a verification phrase that will be used to confirm your identity by phone call in case of assistance calls and when making sensitive transactions such as withdrawals. This way, CoinSpot can ensure it is indeed you before granting access to your account.
Prevent all withdrawals from your account either by crypto or AUD by selecting this option. To re-enable withdrawals, you will need to contact customer support and approve the withdrawals, which is a good preventive measure if you’re not going to be using your account for a long time.
Choose the duration you’re going to remain logged in to your CoinSpot account on any device before you need to log back in again. It prevents unauthorized access in case you forget to log out of your account and someone else can access your device.
Activate this feature to restrict connections to specific IP addresses, thereby preventing hacking attempts from other computers with different IP addresses.
Government regulators protect investors by ensuring that companies adhere to the law and can sometimes provide insurance.
CoinSpot has obtained ISO 27001 certification, which is the international standard for information security management. To achieve this certification, CoinSpot had to undergo a thorough external audit by an accredited certification body.
It’s meant to prove that CoinSpot follows strict information security and management practices, including the management of digital assets, information related to employees, subcontractors, suppliers, customers, products, processes, and intellectual property.
CoinSpot stores the vast majority of digital assets in highly secure cold wallets. Cold wallets are physical offline storage that are not connected to the internet hence they are not susceptible to hacking. However, the coins can always be retrieved when needed so there is never a delay in withdrawals, purchases, or any other transactions.
CoinSpot offers a variety of customization options for your account to prevent unauthorized access. For instance, you can also add a whitelist of approved withdrawal addresses to ensure that funds are only sent to approved addresses, or approved IP addresses to prevent unauthorized access from other devices.
CoinSpot complies with Australian regulations regarding anti-money laundering and combating the financing of terrorism (AML/CFT). Additionally, it is registered with the Australian Securities and Investments Commission (ASIC) as a digital asset exchange.
These regulations and licenses show that CoinSpot follows strict practices to prevent illegal activities and protect investors. It’s also a stamp of approval from the authorities proving that the company is legitimate and can be trusted to operate above board.
This practical guide will help you understand how you can buy your first crypto on CoinSpot. We will demonstrate all the steps involved starting from creating an account, verifying your identity, depositing funds into your account, selecting the cryptocurrency you want to buy, and finally, executing the purchase.
Follow us step by step to become an expert in buying cryptos on CoinSpot.
An account can be created on CoinSpot in no time. Simply follow these steps:
After filling out the form, you will be asked to undergo a verification process. Start with email verification, click the link in your inbox, and then proceed to the KYC (Know Your Customer) verification in your account.
This process requires that you enter your full legal name and contact information including your physical address. Then, upload a picture of your ID – either a driver’s license or passport. Document verification may take anywhere from a few minutes to a few hours, depending on the verification team’s workload.
Please note that business, trust, and SMSF accounts will require additional documents for the business.
Now you’re ready to fund your account, which can be done through these simple steps:
To buy your preferred cryptocurrency, follow these steps:
Congratulations, you have purchased your first cryptocurrency on CoinSpot! It will be deposited into your account, from where you can transfer it to another wallet if you want to.
CoinSpot
CoinSpot
CoinSpot is a cryptocurrency trading platform suitable for all types of users, from beginners to experts. However, every user will find the platform more ideal for their purposes than others depending on the situation.
As a beginner, you don’t require a lot from a crypto exchange, just a platform where you can easily buy and sell crypto. For this purpose, CoinSpot is well suited because it has a user-friendly interface that is intuitive and easy to use.
This makes trading cryptos straightforward with a simple transition from one page to the next and simple, clear trading buttons – buy or sell. At the same time, there is a wide selection of cryptocurrencies for beginners looking to diversify their investments.
For intermediate users, CoinSpot has advanced features to enhance their trading experience and accommodate their sophisticated needs. For example, the platform offers a variety of advanced trading orders such as limit orders to make precise trades at the desired price.
Intermediate users can also benefit from advanced charting tools for more in-depth technical analysis. All these are meant to elevate crypto trading to a professional level with more control of your trading.
Experienced users also have a place on Coinspot beginning with the variety of cryptocurrencies available on the platform. With over 400 cryptocurrencies listed, users can explore and invest in niche projects with huge potential and risks.
Moreover, experienced users can benefit from advanced features such as margin trading, derivatives trading, and the platform’s API for automated trading. This means faster transactions and larger orders without compromising on any other benefits accorded other traders.
In conclusion, there’s a reason so many people have chosen CoinSpot, and that’s because it is suitable for all user profiles, with features and tools tailored to each level of expertise.
The exchange has taken an interest in improving the user experience through customer service. This can be seen through the 24/7 live chat feature, demonstrating their commitment to providing quick and efficient support at any time of the day or night.
Rapid response time is also crucial for a cryptocurrency exchange, as investors may sometimes face urgent issues requiring immediate assistance. Short response times and the ability to speak directly to a support team member in real-time are undeniable advantages for CoinSpot users.
Furthermore, the FAQ section and informative articles available on the CoinSpot website are excellent resources for new investors. They can find useful information to better understand the exchange’s features and the various steps involved in buying and selling cryptocurrencies.
In conclusion, after reviewing all the information, our opinion of CoinSpot is positive. The exchange is reliable, user-friendly, and equipped with excellent customer service available 24/7. With high-level security, Australian traders can invest safely in cryptocurrencies on this platform.
CoinSpot is particularly recommended for beginners because its simple interface is easy to use and not cramped with too many features. However, this doesn’t mean experienced traders can’t find value in the platform.
With a multitude of features, such as OTC trading and the NFT marketplace, CoinSpot offers a comprehensive trading experience for all levels of expertise. Deposits and withdrawals are free and fast too, which is something that tends to be overlooked.
In summary, CoinSpot is an excellent choice for anyone looking to buy and trade cryptocurrencies in Australia. Its high-level security, user-friendly interface, and outstanding customer service make it a wise choice for both beginners and experienced traders.
CoinSpot
CoinSpot
