Their value can go up and down significantly, without any warning. If you want to access the ‘Instant Buy’ feature, you’ll pay 1%. If trading remotely is your main priority, you’re best off using a platform like Coinbase, who now offers a dedicated Android and iOS application. Moreover, although the Coinspot wallet offers 2FA, it doesn’t offer multi-sig logins.

CoinSpot is one of the safest Australian crypto exchange platforms, with more than 250 cryptocurrencies. It has been available since 2013 and has earned its millions of users’ trust. Coinstats platform gives you the best experience as regards to crypto and wallets, its all incluse wallet gives users access to varieties of options while still using the coinstats app. Another important feature is customizable withdrawal restrictions.

About the special features on CoinSpot

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.

This platform is perfect for beginners with limited trading or investing experience online. Users using their referral code to register on the platform will earn them $10 in Bitcoin as soon as they make their first AUD payment. I’m new to Crypto and started with another platform that charged me a lot and was cumbersome to use. Easy, multiple payment methods and you know exactly what your standings are.

Buying Experience

To https://forex-reviews.org/ the Australian dollar, select the cryptocurrency you want to buy and your preferred deposit method. For cash the fee is 2.5% with the minimum deposit of $50 with a maximum of $1.000 per 24-hour period. Currently, about 140 crypto assets are available to trade on CoinSpot. Friendly local support team equipped to help you every step of the way. Sign up to hear about the latest updates, market trends, and special offers. There are different transaction fees for CoinSpot, and we’ll explain the difference here.

• This is a service to move Fiat into crypto, it’s regulated and secure so it has to come with rules and follow laws, otherwise, it will be like another hacked exchange.
• It’s super easy to navigate and the support staff are absolutely efficient.
• However, you are advised to check the complete fee structure of this trading platform; click here to find it now.
• When buying cryptocurrency on Coinbase, the purchase price offered by the exchange is usually slightly higher than on the market.
• After several attempts I followed their instructions and reset my password using their link.

The bundle feature on this exchange is exactly what it sounds like. Bundle together several different digital assets and buy them in one single purchase. This will save you a lot of time and you can avoid multiple fees from buying the coins separately. CoinSpot has an excellent crypto Swap feature for Australian traders that lets you exchange between more than 300 digital assets including some very rare and cheap altcoins. CoinSpot charges a slim 0.1% commission for swapping crypto-to-crypto on the platform which is in the lower bracket when compared to other similar platforms.

Coinspot is a scam

We are pleased to hear you’re having a good experience on our platform and are finding our deposit methods easy to use. My account got hacked and my cryptocurrencies got stolen from my account. Assets with a lower trade volume will generally reflect a larger disparity between the buy and sell price when traded. This can be observed on other exchanges when trading low volume assets.

There are over 200+ coins that can be purchased instantly or sold back to AUD. CoinSpot supports over 370 cryptocurrencies on the exchange to buy, sell and swap in Australia such as Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Cardano, NEO, EOS, Stellar Lumens, Tron and others. The exchange also supports popular DeFi tokens on it’s platform such as Compound, Uniswap, Aave, Yearn Finance and Sushi. Australians that are looking to buy meme coins like Dogecoin and Shibu Inu are also listed on CoinSpot. Compared with the top exchanges in Australia, CoinSpot offers one of the largest selections of digital currencies that can be bought and sold using AUD. There are currently over 370 coins that are supported on the Instant Buy/Sell platform which includes the major assets, DeFi coins and exotic altcoins.

Is Coinspot regulated?

You can also speak to them instantly throughout the live chat operating hours! Moreover, the platform also has a dedicated FAQ section to help beginners with various issues like verification and login, trading and exchange, fund withdrawals etc. You can check price graphs, sell, trade, buy, transfer from the wallet, track your cryptocurrency portfolio in one place.

• I was scammed, all the funds I had with Coin Spot disappeared overnight and there has been no rational explanation.
• CoinSpot advertises “Buy and Sell more cryptocurrencies than any other exchange in Australia,” which I believe to be correct – you can see all the coins you can buy from them here.
• Below is a shared list of the article sources used for this review.
• CoinSpot TransactionIn case everything is correct press the button “Confirm Buy”.
• The value of digital currencies can go up or down frequently….

ADCA is not a regulatory authority, but the membership still shows some form of long term commitment to the adoption of blockchain technology. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. Coinspot is anAustralia cryptocurrency exchange that is based in Melbourne, Victoria.

However, you will have to sell the coins individually if you’re going to sell all of the coins. CoinSpot WalletIntermediate and advanced traders have trading tools such as indicators, trendlines, and technical patterns at their disposal. The portfolio tracker for connecting randome wallets is pretty slick. Haven’t used many trackers this so far pretty easy to use and laid out quite well. I use PayID to deposit money work instantly and it’s free…

The OTC desk is a coinspot reviews for wealthy Australian traders, legal entities, entrepreneurs, and other businesses looking for a safe way to enter the cryptocurrency market and invest in digital assets. The best cryptocurrency exchange in Australia CoinSpot allows its registered users to buy or sell cryptocurrencies like Bitcoin instantly. It also allows them to trade in the open market by speculating crypto prices and earning potential profits. In summary, Coinbase does have some notable features and a regulated exchange. We really like how clean and crisp the platform is, which makes it super simple for those that don’t have much experience in using cryptocurrency exchanges. We also like the fact that Coinspot lists more than 350 cryptocurrencies.

However, if the user is based outside the Australian jurisdiction, they need to deposit funds only via cryptocurrencies. The Australian exchange supports more than 200 cryptocurrencies available for trade, exchange, and swap. The supported digital currencies include Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash, NEO, Cardano, TRON, EOS, and Stellar Lumens. Besides cryptocurrencies, the exchange also supports DeFi tokens like Aave, Compound, Uniswap, Yearn Finance, and Sushi.

Here, we have summarised the best features that CoinSpot offers, to demonstrate how it stands out from the competition. As the most trusted and secure exchange with over 2.5 million users, and access to 370+ coins, it is easy to see why CoinSpot is one of the best exchanges in Australia. Don’t forget to sign up with this link, and receive $20 Bitcoin FREE as a welcome offer. One of the criticisms of CoinSpot is that there are no advanced markets, such as derivatives trading. This is because they focus on a user-friendly experience for new and intermediate crypto investors. If you are an experienced trader, we suggest you look at Bybit or MEXC Global, where you will find derivatives and margin trading.

This agency identifies money laundering, terrorism, tax evasion, welfare fraud, organized crime. CoinSpot is a highly interactive trading platform, which is suitable for both beginner and advanced users. They said someone have access to go in my account and this is not right at all , the ones who scammed me one of them they sold all my coins and transferred my money . Fees are fees, and they are way cheaper than sending money in a banking system. App works great, some things would be good, but it’s not its purpose, you can deposit and buy in the app instantly. There are other apps that you should use to do advanced stuff.

BTC Markets is a huge cryptocurrency exchange platform located next to CoinSpot in Australia, in Melbourne. The exchange was also founded in 2013 and is also focused primarily on English-speaking users. The project is designed primarily for users of European countries, and the only language in which the interface available is English. Despite this, access to bidding is available to all countries without exception. When buying cryptocurrency on Coinbase, the purchase price offered by the exchange is usually slightly higher than on the market.

Coinspot is the first crypto exchange in Australia to receive an ISO information security accreditation. Overall, the trading fees cater to beginners looking to make their first Bitcoin & cryptocurrency investment using AUD. However, the trading fees are too high for active buyers and cryptocurrency traders as the 1% fee will eat into any potential profits. Similar to the popular Bitcoin trading platforms, Coinspot exchange includes an order entry box to buy and sell cryptocurrency against Australian Dollars . Users can enter in the amount of AUD to spend and choose the amount of crypto to purchase. The interface is basic and orders need to be manually entered which can result in making errors.

This means Coinspot is a reasonably secure exchange with a relatively low risk that personal information that is stored on the exchange to comply with KYC requirements will be compromised. CoinSpot currently offers 12 crypto bundles that can be purchased with AUD. Investors are not able to create their own bundle and instead can choose from CoinSpot’s offerings that consider the top digital currencies by their market capitalization. For example, the “Top 3 Market Cap” bundle contains Bitcoin, Ethereum, and Binance Coin at 34%, 33%, and 33%, respectively.