CoinSpot Review 2025: Features, Fees & Safety

CoinSpot Review 2025: Features, Fees & Safety

Despite some drawbacks, such as limited advanced trading features and higher fees on some transaction types, CoinSpot remains a reliable and secure platform. CoinSpot is registered with Australian regulatory body AUSTRAC and is a member of Blockchain Australia, an organisation that focuses on the safe adoption of blockchain technology.Past hacks. CoinSpot was the first Australian exchange to receive ISO certification in 2020.

• However, the primary downside of the exchange is that it does not support advanced trading features.
• CoinSpot ticks the boxes of user-friendliness, multiple deposit methods, platform functionalities, and overall trading experience for new crypto investors taking their first steps in cryptocurrency trading.
• CoinSpot takes security seriously and has various measures in place to protect users’ funds.
• It was founded in 2013 and is a member of Blockchain Australia, which is an industry body that helps design and implement best practices in Australia.
• For this reason, there is a huge range of exchanges and platforms that cater to specific countries and nations.
• This is definitely a rarity amongst crypto exchanges and platforms and will appeal to many Australians who prefer to speak to someone instead.
• Funds transfers seem to be faster than other Aussie exchanges I have used so far.

CoinSpot is a safe crypto exchange with bank-like security that also has received internationally acknowledged ISO certification. It provides around 250+ cryptocurrencies, which users can store in CoinSpot Wallet. Further, this exchange offers high liquidity and a simple user interface.

The OTC Desk for Institutional Traders

Here’s our guide about the best crypto exchanges to buy and sell Bitcoin in Canada. With the CoinSpot app, users can convenient and easily buy, trade, transfer, and sell different cryptocurrencies from the CoinSpot walelt. Users can also view graphs, price charts, and track their crypto portfolio under one single platform. Partnering with ZenDesk, a customer support service system in the US, also allows users with unique queries to voice their concerns to real representatives despite their location. All you have to do is fill out a support form and send it via email to ZenDesk, and the support team will respond as soon as possible. Once your CoinSpot account has been verified, you can buy and sell cryptocurrency instantly with a broad range of fiat deposit options including debit cards, credit cards, BPAY, PayID, and POLi payments.

The only thing to note is that you can only access about 16 different cryptocurrencies on the market. Hedge With Crypto aims to publish information that is factual, accurate, and up-to-date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from coinspot reviews the actual provider’s website.

Should Users Trust CoinSpot?

The exchange caters to Aussie investors and allows users to buy, sell, and exchange over 370 cryptocurrencies, making it the only Australian exchange with one of the largest crypto lineups. One of the biggest pain points within many CoinSpot reviews is that its fees can be somewhat inconsistent. While fees for standard spot trading are relatively competitive, the ones for instant buys, sells, and swaps are frustratingly high. Some people enjoy taking the helm with their crypto portfolios and work hard to create the perfect combination of assets, all weighted with a certain amount of money attached to them.

How do I create a CoinSpot account?

• Recognising the importance of mobility in managing cryptocurrencies, CoinSpot offers its app on iOS and Android mobile platforms.
• Our extensive analysis of the Australian Crypto Exchanges doesn’t stop here.
• After that, your CoinSpot account verification will occur instantly, and you will be able to deposit up to $2000 per day.
• Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format.
• If you want to use these options, you might want to take a look at other crypto exchange platforms.

CoinSpot has introduced a crypto Mastercard that simplifies the process of using cryptocurrency for daily purchases. Combined with several other offerings explicitly made for Australian users, these services significantly enrich their trading experience. With fees starting at 0.1% and no hidden costs, CoinSpot is one of the cheapest exchanges for traders in Australia. That said, CoinSpot selling fees of 1% are a bit higher than what you might find on other crypto exchanges. For example, Swyftx charges a fee of 0.6% and Digital Surge has a 0.5% fee.

The Possibility of an Altcoin Season in the Face of Low Bitcoin Dominance

To use it, people must top it up with cryptocurrency, which they can then use to make fiat purchases online or even in physical stores. When you do this, CoinSpot will make a quick swap from the cryptocurrencies on the card to fiat. Thankfully, the company offers pre-created portfolios for people to engage in. This is a highly impressive feature mentioned in many CoinSpot reviews, as it makes diversification much less daunting and more straightforward. The pre-created portfolios are referred to as “bundles”, and they are collections of cryptocurrencies that are connected to each other in some way.

Information found in this website are to be used at your own risk, Skrumble will be not liable for any loss or profit that derivates from the use of those. Withdrawals on CoinSpot are typically made to the user’s bank account and take only a few minutes to complete once the approved withdrawal email confirms the transaction is received. This can take up to 12 hours if there are insufficient funds in the platform’s hot wallet. The CoinSpot Earn service operates on the same principle, allowing users to earn more coins on their cryptocurrency holdings.

grate app for investment 10/10

Unlike other exchanges where you might be limited to buying NFTs with ETH only, with CoinSpot you can sell and purchase NFTs in any currency you wish. While CoinSpot is suitable for many Australian crypto investors, consider any disadvantages before deciding if it’s the right exchange for you. There is nothing more frustrating than being stuck in an endless loop with a bot, or having to wait days between email replies. Fortunately, on CoinSpot you won’t have to worry about either of these issues as they have responsive Live Chat support that is available 24/7. In fact, CoinSpot ranked #1 in Marketplace Fairness’ real-world test on customer support. This 24/7 assistance provides an extra layer of confidence, knowing that help is always just a few clicks away, whether it’s for direct deposit inquiries or other concerns.

That’s over a decade of an unblemished track record for protecting their customers’ funds and crypto assets. As one of the oldest digital asset brokerages in the country, the highly regulated platform hasn’t experienced a security breach or intrusion since 2013. On the other hand, more advanced investors may be eager to engage in more sophisticated trading.