CoinSpot Review: An Innovative Australian-Focused Platform

CoinSpot Review: An Innovative Australian-Focused Platform

Naturally, this will disappoint many international users who are reading my CoinSpot review, as there is a wide array of features that are exciting. For instance, in the US, the closest equivalent would be a Self-Directed IRA (Individual Retirement Account) or a Self-Directed 401(k) plan. These retirement accounts allow individuals to invest in a broader range of assets than traditional IRAs or 401(k)s, which can include cryptocurrencies. By now, it should be clear within my CoinSpot review that this platform is more of an ecosystem than a coinspot reviews simple exchange. Another element that cements this idea is that it provides self-managed super funds, or SMSFs. Recognising the importance of mobility in managing cryptocurrencies, CoinSpot offers its app on iOS and Android mobile platforms.

• Another element that cements this idea is that it provides self-managed super funds, or SMSFs.
• CoinSpot has one of Australia’s most comprehensive cryptocurrency libraries.
• This is because the platform is very beginner-focused and user-friendly.
• Once you have verified and funded your account, you can start trading instantly.
• One of the most impressive and important features to highlight in my CoinSpot review is that the company offers users the ability to buy cryptocurrency with fiat.
• With his IT consultant and entrepreneur background, he steered CoinSpot towards becoming a key player within Australian cryptocurrency exchanges.

Binance

• Deposits through POLi, PayID and Direct Deposit (via OSKO) are instant and free, whereas BPAY transfers usually take one to two days and come with a 0.9% deposit fee.
• CoinSpot is a reputable as well as a trustworthy exchange that has not been hacked since it was founded originally in 2013.
• Yes, this exchange platform offers top-notch security for buying and selling Bitcoin, as well as any other coin you are interested in trading.
• To finalize your account, CoinSpot will ask you to create a sign with your name, signature, current date, and distinctive CoinSpot code, take a selfie with it, and upload it to the site.
• Whether you are starting out with crypto, or you have been trading for some time, CoinSpot is an excellent choice for Australians.
• Coins held for more than a year receive a 50% CGT reduction in profit.
• The exchange gives OTC traders direct access to a professional account manager who helps the trader with all OTC and trading-related questions.

To help with the process, Coinspot has an Earn rewards history section on its website, which you can access via the Order History menu of your account. Next, fund your CoinSpot wallet with fiat currency using any of the supported payment methods. After sending a ticket via the live chatbot, I was connected with a member of their team within 4 minutes on a weekday. At 0.1 per cent, they are the same as some global exchanges like Binance, so you know they are good value for money.

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.

Over The Counter (OTC) Trading

The OTC (Over-The-Counter) Desk helps with trades that are not exchangeable on the platform. The OTC Desk is also ideal for anyone like institutional traders looking to place larger transactions at lower risks without upsetting the market. 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. CoinSpot has been at the forefront of the blockchain revolution in Australia since 2013.

Before they can deposit or withdraw from their bank account, new CoinSpot users must complete their know-your-customer (KYC) process. They must upload a copy of their official passport, recent driver’s licence, or another government-issued ID card to verify their new account and unlock the full suite of services. However, these are not the only CoinSpot fees investors should be wary of.

Our Pick Of The Best Crypto Exchanges For Australians In 2025

A list displaying all supported banks will appear when you begin the process of a POLi deposit. After that, your CoinSpot account verification will occur instantly, and you will be able to deposit up to $2000 per day. The final step is uploading a photo of your passport or driver’s license. Australian Government Financial Agency, known as AUSTRAC, keeps tabs on all the financial transactions.

CoinSpot’s Security Measures

There are no order books and complex buying panels with different order types that I don’t know how to use. I would have preferred a demo mode so I could use TradingView to practice trading to my heart’s content using virtual funds, but maybe CoinSpot will implement this in the future. But unlike the Binance spot trading interface, which I found overwhelming, the CoinSpot version is much more streamlined, clutter-free, and easy on the eye. Once you find the asset to purchase, CoinSpot presents a simple panel asking you to enter the amount of AUD to spend. Users must, however, fill out a withdrawal request, and fiat currency withdrawals can only be made to the recipient’s bank account. CoinSwap trades are charged a nominal fee of 1%, whereas NFT trades are charged a flat fee of 0.9%.

Then, enter all your details and click ‘Create Account.’  When you receive the verification link on your email address, click it. Your CoinSpot account gets created after the verification of your email address. We use dedicated people and clever technology to safeguard our platform. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

Step 3: Deposit Funds on CoinSpot

CoinSpot has been around since 2013 and has never been hacked, and it maintains industry best-practice by storing the vast majority of cryptocurrency in highly secure cold storage. There are also a wide range of customisable security features that users can implement to ensure their account is always safe. These include 2FA, SMS security token, anti-phishing phrase, geo-lock logins, and more. Whether new to trading cryptocurrencies or a seasoned expert, CoinSpot allows Over-the-counter (OTC) trading for high-net-worth investors. The exchange offers assistance with high-value deposits & withdrawals including support for Self Managed Super Fund (SMSF) and business Account onboarding.

CoinSpot is considered one of Australia’s most trustworthy cryptocurrency exchanges. Established in 2013, CoinSpot has built a solid reputation in the industry. The exchange is registered with the Australian Securities and Investments Commission (ASIC) and is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). 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.

When they make their first transaction, both you and your friend will obtain $10 Australian bucks in the form of Bitcoin. Take profit, limit orders, stop loss, and recurring orders each consist of a 1% trading fee. To better understand what each of these processes entails, our CoinSpot review will explore them below. Our CoinSpot review also wants to highlight the platform carries non-fungible tokens (NFTs) and decentralized finance (DeFi) tokens for global banking.