CoinSpot Reviews Read Customer Service Reviews of www coinspot.com.au
Choose whether you want to place a market order or limit order, enter the amount you want to buy, and then execute the trade. Once you’re on your main account dashboard, click on the orange text that says “ENABLE 2FA”. You then need to link up the Authenticator app on your mobile phone with the Coinspot coinspot reviews platform. Moving forward, you’ll need to enter the unique code from your mobile phone every time you log in. Ultimately, if you’re a non-Australian resident and you need to deposit funds with an everyday debit/credit card or e-wallet, then you’re best off using a more inclusive exchange like Coinbase.
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. To start using the services of the platform, you will have to open a CoinSpot account. If you’re an Australian resident, click on the ‘DEPOSIT AUD” button. Although this step is not compulsory, you are advised to set-up two-factor authentication (2FA). This will add an extra layer of security on your account, and help to keep your funds safe. Unless you are based in Australia, we would suggest re-thinking your plans to open an account at Coinspot.
- CoinSpot also makes it simple to manage your tax and audit obligations with end-of-year reporting.
- You can access your wallet from the website or the app and see your balances and transactions.
- You can use Bank Transfer, BPAY, POLi, PayID, Direct Deposits, or Cash.
- This includes processes relating to the management of; digital asset storage, information relating to employees, contractors, suppliers, clients, products, processes, and intellectual property.
- CoinSpot app features a clean and user-friendly interface that poses no challenges to even novice users to buy and sell coins.
- As a result, new and experienced traders can execute a trade at any time and close all trade positions within the same day.
With CoinSpot, you’ll have access to multiple Australian dollar (AUD) deposit methods as well as ISO Accreditation for information security. Bank transfers remain the most popular way to deposit AUD at CoinSpot, which then permits you to start trading. Once you’ve signed up for an account, you can instantly start buying and selling Bitcoin. You’ll also gain access to the open market, where you can earn potential profits through speculation.
Supported Cryptocurrencies
CaptainFI is not a Financial Advisor and the information below is not financial advice. This website is reader-supported, which means we may be paid when you visit links to partner or featured sites, or by advertising on the site. For more information please read my Privacy Policy, Terms of Use, and Financial Disclaimer. A list displaying all supported banks will appear when you begin the process of a POLi deposit. Coinspot also has its own NFT marketplace that let’s users to easily list, buy, sell, and trade their favourite NFTs.
security vs alternatives
The CoinSpot app can be downloaded from the Google Playstore or iOS Store. The ease of use of the app has been improved over time and is comparable to the top crypto apps in Australia for buying and sell digital assets with AUD. To sum up the CoinSpot review, it is the safest Australian cryptocurrency exchange for buying, selling, and trading crypto with AUD. It has a simple and user-friendly interface, supports over 400 coins, including NFTs and crypto cards, and has a secure and regulated platform. In summary, CoinSpot stands out as a premier Australian cryptocurrency exchange, balancing robust security measures with user-friendly services. It offers over 400 digital currencies, innovative features like the CoinSpot Mastercard, and specialised investment options.
CoinSpot Review: Supported Cryptocurrencies
While CoinSpot doesn’t currently offer a desktop or mobile wallet, you can always store your crypto on their online wallet and easily monitor it anytime you login. The Wallets page on their website will display your wallet’s balance, the current price, 24hr % change as well as the approximate AUD value. This feature is truly convenient for investors who wish to stay up to date on market moves. Coinspot’s interface features a simple and easy-to-use dashboard with trading features that allow you to monitor multiple coin wallets in a single location. There are buttons next to each asset for quick buy or sell orders, or to view the live price chart.
Coinspot Trading Fees
Regarding the deposit fee of CoinSpot, you don’t need to pay any fee when you make instant deposits via POLi, PayID, or Direct Deposit (via OSKO). 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). 3) CoinSpot’s list of over 410+ different cryptocurrencies is one of the widest ranges in Australia. You will find all of the major coins, such as BTC, ETH, LTC, XRP, BNB, as well as many small altcoins that you have probably never heard of.
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. It emphasises ease of use, evident in its user-friendly interface and dedicated mobile app, appealing to newcomers and institutional investors. Security is a top priority, with robust measures like two-factor authentication and Blockchain Australia certification, ensuring a secure trading environment. CoinSpot features a solid mobile trading app to buy, trade, sell, transfer from the wallet, view price graphs, display coin information and monitor a cryptocurrency portfolio in one place.
Due to CoinSpot’s early entry into the Australian cryptocurrency sector, it has become the most secure of all Australian platforms. It is the only exchange to have been awarded the ISO certification. If you’ve been trading crypto for a time, you can have an idea of which cryptocurrencies you want to invest in. But if you’re new to cryptocurrencies, you may want to take advantage of CoinSpot’s Bundles, a feature that can be likened to ETFs (Exchange Traded Funds). Essentially, CoinSpot’s Bundle is a combination of a variety of coins that are expected to suit the needs of a particular group of customers. CoinSpot is the first platform in Australia to enable users to make purchases directly through its in-platform NFT Marketplace.
However, this is a standard process to protect the crypto exchange from involvement in money laundering or suspicious activity. The overall verification process normally takes less than 24 hours. CoinSpot is a reputable and trustworthy exchange that has never been hacked since it was founded in 2013. CoinSpot is also the first cryptocurrency platform in Australia to receive the internationally recognized ISO certification for information security. This means CoinSpot is a particularly secure exchange, and there’s a low risk that personal information stored on the exchange – to comply with KYC requirements – will be compromised.
Coinspot offers a more in-depth trading platform that has been designed to suit intermediate traders. The Coinspot “Exchange” can be accessed by clicking on the “Market” link on the top menu. The equivalent amount of Bitcoin is displayed at the current market rate. The trading fee is not displayed with the transaction details and should be shown to provide clarity for the investor. Traders that use the instant buy or sell feature will incur a higher trading fee of 1% for convenience.
Step 3. Deposit funds
If you’re not an Australian resident, then you will need to fund your account via cryptocurrency. CoinSpot is one of the trusted cryptocurrency exchange platforms. Despite facing a challenge in November 2023, experiencing a $2 million loss due to a hacking event, the company has taken proactive measures to address the situation. Coinspot was founded in 2013 by a bloke using the psudoname Russell Wilson.
For traders interested in diversifying their portfolio, CoinSpot offers crypto bundles. These work similarly to ETFs, i.e. they are packages that you can buy in a single transaction and that track the price of one or several underlying assets. For instance, you could buy the Metaverse Bundle which holds all Metaverse-related coins listed on the platform. If you’re thinking about opening an account with Coinspot, we’d suggest you read our comprehensive review first. We’ll discuss everything from fees, supported coins, payment methods, security, regulation, and more.
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. There are a few different CoinSpot fees, as they offer multiple services. However, the exchange lays it out simply, so you only pay one transparent fee and avoid any hidden costs as on other platforms.
Patrick has over seven years of experience in the crypto space and has previously shared his knowledge with the AML and fraud departments of Australian financial Institutions. Delays in deposit sometimes but always resolved in timely manner. Overall great exchange but please remember not to keep your crypto on any exchange no matter how great it is. CoinSpot Earn allows you to loan your coins to the platform (by placing them in an Earn Wallet) and earn rewards depending on the amount of coins in the Wallet and the amount of time they have been there. Keep in mind that CoinSpot Earn only works with certain coins (see the full list of accepted coins here).
