CoinSpot Review Australian Crypto Exchange
The team behind CoinSpot has a common goal of creating the best and easiest place for Australians to invest in bitcoin and other digital assets. It provides diverse services, such as the CoinSpot Mastercard and crypto SMSFs, and maintains strong customer support. Regulated by AUSTRAC, CoinSpot ensures compliance and competitive fee structures.
- This card lets you spend any cryptocurrency you have on CoinSpot, just like fiat currencies, and you won’t have to pay any fees when you start using it.
- You can choose to buy, swap, or sell from over 250 cryptocurrencies.
- At Trading Browser we aim to protect the end-user by delivering content that is fully transparent and aimed at user experience, trust, and security above all else.
- CoinSpot also has Australia’s highest level of security certifications and is Blockchain Australia certified, providing multi-layered and advanced support systems.
Additionally, users can scroll down to view their coin portfolio, simplifying the process of tracking the performance of their personal investments. Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. The CoinSpot cryptocurrency exchange complies with Australia’s strict new AML/CTF laws enforced by AUSTRAC to ensure the safety of user accounts. The exchange features bank-like security measures to protect its customer’s information and keep funds secure.
CoinSpot is a trusted and reputable cryptocurrency exchange that has not been h acked since it was established originally in 2013. It is the first crypto platform in Australia to ever receive the internationally recognized ISO certification for its robust information security systems. When you’re ready to deposit cryptocurrency into a digital wallet, open the Wallets page of CoinSpot and click on the wallet you want to use for your deposit.
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We tested Coinspot and 10+ other platforms simultaneously to help you compare true fees on each platform. Overall, the process is straight forward and most users will be verified instantly once their documents are uploaded. All things considered, I am eating my words and made a small purchase into Bitcoin (BTC) and making a second, small purchase into Ethereum (ETH). I want to say that I don’t strictly consider this an investment (my investments are things that produce a yield and that will fund my Financial Independence and Early Retirement). This is more of a small gamble – a bit of a fun, an educational/learning experience and somewhat of a small hedge against my own prior cynical bets.
Financial Disclaimer
Overall, while Coinspot is a decent local exchange, it’s a much more limited trading venue compared to global exchanges such as Binance and OKX. It does however offer some additional useful products for beginners such as bundles for those that want to invest in a cryptocurrency index in a simple way. I have a large amount of tether that was transferred from Binance, I was in the process of being scammed now I dont know how to trade or withdraw the funds. Please reach out to our 24/7 Support Team via email or live chat, the team will be able to assist and review this further for you. CoinSpot has a great referral program that gives you a $10 free crypto sign-up bonus for inviting new users.
For starters, you must know that CoinSpot was designed to suit all investors through its streamlined, user-friendly interface. Yet, despite its inherent convenience, the platform still offers trading of more than 210 cryptocurrency coins available to sellers and buyers. CoinSpot also comes with responsive customer service and a ticket system. Whether you’re new to digital currency or have some experience with cryptos, you must carefully select where you place your trades and investments. Launched in 2013, Coinspot is a third-party cryptocurrency exchange based in Australia. The platform has an extensive range of supported coins, with more than 100 cryptocurrencies available to buy and sell.
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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. If you are determined to use Coinspot to buy coins, we would strongly recommend that you store them in a secure private wallet.
Further, CoinSpot exchange has achieved ISO certification for information security and provides an effortless and comfortable experience. In addition to CoinSpot reviews, we also have reviewed other exchanges. You can find Binance vs. CoinSpot review, Crypto.com and CoinSpot review or Swyftx vs. Binance vs. CoinSpot Reviews. CoinSpot also has Australia’s highest level of security certifications and is Blockchain Australia certified, providing multi-layered and advanced support systems. It is AUSTRAC-registered and the only one in Australia with ISO accreditation, a worldwide recognised standard for information security management systems (ISMS). Before digging into our comprehensive CoinSpot review, let’s look at the pros and cons of the platform.
Contact info for CoinSpot
You can also check the details of each NFT, such as its title, description, creator, owner, and history. To start trading NFTs on CoinSpot’s Marketplace, you need to sign up on it and verify your identity. You can pick a bundle that matches your interests and goals, such as AI, Gaming, Top 3 Market Cap, DeFi Bundle, NFT, and more. But it might take some time for your withdrawal to go through, up to 12 hours.
Other bundles are “themed”, comprising DeFi, environmentally-friendly or NFT assets for example. The information provided on this page is for educational purposes only and is not intended as investment advice, an endorsement of a cryptocurrency, or a recommendation to https://forex-review.net/coinspot-review/ trade or use any services. We may receive compensation from our partners if you visit their website. Earlier this year, the federal government announced it will require exchanges to hold a financial services licence that will be issued by the corporate regulator.
Customer Support
Moving forward, you’ll need to enter the unique code from your mobile phone every time you log in. Unless you are based in Australia, we would suggest re-thinking your plans to open an account at Coinspot. This is because you are severely limited when it comes to depositing and withdrawing real-world funds. However, if you do want to proceed, then check https://forex-review.net/ out our comprehensive step-by-step guide below. Yes, CoinSpot is considered a trustworthy exchange and was the first crypto exchange in Australia to receive an ISO certificate for information and security. To make your life easier the CoinSpot platform has created a mobile APP for you to be able to manage your investments everywhere & anywhere you go.
Coinspot works much in the same way as any other cryptocurrency exchange. The platform matches buyers and sellers, and charges trading fees for its efforts. When you first register an account with Coinspot, you’ll need to deposit some funds. Once your account is funded, you can then begin trading at Coinspot. CoinSpot is an Australian cryptocurrency exchange that has bank-like security measures to protect their customers’ information and their funds.
We’re talking about a platform that promises easy trading, a wide range of supported cryptocurrencies, and a strong security system to keep your investments safe. CoinSpot is one of Australia’s oldest and most reliable crypto exchanges for digital currencies, with more than 2.5 million users. The trading fees we analysed were based on the lowest trade volume and the most basic version of the platform for each brokerage or crypto exchange. Setting up an account with CoinSpot is a relatively simple and quick process. Users need to provide the necessary information and identity documents in order to complete the know your customer (KYC) verification process.
The platform offers various services, including the innovative CoinSpot Mastercard, enabling users to spend cryptocurrencies like regular money. It also provides specialised investment options, like crypto SMSFs for retirement funds, broadening its appeal. CoinSpot’s commitment to customer support is strong, offering localised around-the-clock assistance, and highlighting its focus on user satisfaction and trustworthiness. CoinSpot, the largest Australian cryptocurrency exchange founded in 2013, is renowned for its vast selection of over 400 digital currencies, including Bitcoin, Ethereum, and Litecoin.
If your bank doesn’t accept POLi payments, BPAY payments offer the second-lowest fees on CoinSpot. Deposit and withdrawal fees are at a low of 0.9%, but you need a minimum cash deposit of $1 to make a transaction. Like with POLi, you may deposit up to 10,000 per day, but deposits take one to three business days to process. Like most cryptocurrency exchanges, to create an account with Coinspot, you will need to go through a registration process to create a crypto trading account. To get started, visit the website and click ‘Register’ at the top of the page, fill in the details and click ‘Create Account’. CoinSpot launched its crypto debit card powered by Mastercard for its customers with verified accounts to apply for and use the card.
Most users will be able to get started with CoinSpot to buy Bitcoin and other digital assets with the assistance of CoinSpot’s Help Centre. All other coins have a variable limit, ranging from $100 and $50,000 depending on market liquidity at the time of transaction. To find the specific buy and sell limits for coins, navigate to the ‘Buy/Sell’ button at the top of the page and select the desired coin.
