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Only downside for now is the lack of volume, and they only let you trade Bitcoin. I usually trade on binance and bring it back to coinspot to exchange to fiat. But I was at the wrong place at the right time so I bought there instead. To conclude our CoinSpot review, we believe the exchange is a safe exchange to buy Bitcoin due to its compliance with Australia’s new Anti-Money Laundering and Counter-Terrorist Financing laws. Based in Australia, it is a well-trusted exchange that is highly respected in the local cryptocurrency community and is suited for beginners.

In the short term, Australia looks like a country with a friendly attitude to the cryptocurrency industry. CoinSpot offers a range of deposit methods, luckily the most popular options incur zero fees. Deposit using POLi, PayID, or Direct Deposit are free of charge. BPAY deposits incur 0.9% deposit fee and cash deposits at a newsagent has a 2.5% deposit fee. ‘s referral service gives its customers the opportunity to earn $10 in Bitcoin right after making their very first AUD deposit without any additional trading fees.

CoinSpot Wallet Review

You then need to link up the Authenticator app on your mobile phone with the Coinspot 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. You can buy and sell Bitcoin and other cryptocurrencies instantly on CoinSpot.

The first Australian exchange to be awarded the internationally recognised ISO certification for information security! If you require specialised support, you can email the support team, who will respond to your issue once they get to your query. Additional price chart window that you can open easily from the Dashboard at all times to conduct technical analysis. The option is available both on the CoinSpot app and the desktop version. CoinJar review — reasonable fees, but slightly less volume than Independent Reserve.

Is Coinsafe safe?

Like most cryptocurrency exchanges, to create an account with Coinspot, new users 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’. For investors who want to quickly diversify their crypto portfolio, the CoinSpot platform offers the ability to purchase digital assets in bundles. Since multiple cryptocurrencies can be acquired in a single transaction, the added advantage is that fewer transaction fees are incurred.

Beyond my favorite cryptocurrency exchange Independent Reserve, I’ve also testedCoinJar, Bitaroo , Digital Surge , Swyftx and the not-at-all-recommended Cointree. We wonder why we can’t get adoption in the crypto space it’s because exchanges like coinspot are dodgy with buy and selling prices. CoinSpot is a safe and legitimate cryptocurrency exchange with over 2 million users in Australia.

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 exchange allows wire transfers for deposits, but you cannot deposit funds via credit card. Moreover, the other available payment methods include POLi payments, AUD deposits or PAYID payments. Further, no fee is charged from you for making deposits using these payment methods, but a flat fee of 0.90% is charged for payments made via BPAY and a 2% fee on cash deposits.

An equal amount of Bitcoin will appear at the current market rate. Further, CoinSpot exchange has achieved ISO certification for information security and provides an effortless and comfortable experience. This is a very good app for your worthwhile crypto experience. Coinstats is much better than coin market cap because we get sparks daily and you can make more by attaching your wallet to invest. So for so good happy to be invested in coinstats all ready saw my investment growth. I was searching method to buy and this is right place to start with.

The coinspot reviews is only available for people who are living in Australia or if you have an Australian bank account. 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. The app is easy to maneuver, and within just a few clicks you will be able to take a position or leave the market at any given point. The app will be available for you on Google Play and App Store.

CoinSpot Review: User Interface

The widget works like a form and a specific question can be asked which will be answered by the Coinspot support team. After contacting the support team, a response was received less than 24 hours on a business day. The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote. Among these sources, you will find LinkedIn profiles, Trustpilot reviews, Sitejabber ratings, whitepapers, government reports, and other reputable sources.

• The instant buy & sell function has a trading fee of 1.00%.
• Refer a friend to CoinSpot and you will both receive $10 worth of Bitcoin after they complete their first AUD deposit.
• Contacted the support crew and with a couple of questions and information they needed it was quickly found and appeared back in my wallet.
• Unfortunately, the exchange does not provide an option tobuy Bitcoin with a credit card, AfterPay or PayPal.Each deposit method has various deposit limits per day and timeframes as shown below.

Nevertheless, the exchange offers only 12 cryptocurrencies for trading, while CoinSpot has a wide selection of coins. To go through the verification process you need to provide your driver’s license and deposit some funds to your account to start trading. If you want to do some more research about the best crypto exchanges for Aussies, have a read here. We also conducted a comparison test using personal accounts on CoinSpot and 3 other Australian crypto exchanges . If you are sending coins to wallets outside CoinSpot there is a standard transaction fee which is based on the coin and how busy the network is. You can buy an NFT straight from your account, with any cryptocurrency you like.

Customer service

After several attempts I followed their instructions and reset my password using their link. So back onto the chat to ask about lifting the withdrawl freeze I had put on, and i get booted off the chat entirely after 15 mins and it also signs me out. I read a really damning review of these people on facebook, a real eye opener.

• A unique and really useful service that CoinSpot offers is CoinSpot Bundles, which allows you to purchase a variety of assets in a single transaction.
• When we tested out the responsiveness of the live chat team, we were very impressed.
• Here you see the cryptocurrency chosen, the amount of crypto, CoinSpot fee (1%) and the total sum in AUD that you need to pay.
• In addition, the CoinSpot affiliate program as users to earn a commission of up to 30% on the trading fees whenever the people use their referral link to get registered on CoinSpot.
• Overall, the advantages of using CoinSpot far outweigh the disadvantages, and is a recommended crypto exchange in Australia for beginners due to its easy-to-use interface and mobile app.
• Though this option is convenient, it has a transaction fee of 1% for convenience.

With the affiliate program, one can earn a commission of up to 30% on the trading fees of those who have registered using their referral link. Thus, users can decrease their trading fees by bringing in more users and earning commission on their trading fees. CoinSpot is best suited for crypto investors and traders from Australia that are looking for a high-security, beginner-friendly, and well-established digital asset platform.

Is CoinSpot beginner friendly?

You can find the link generated for your account in the menu bottom of the CoinSpot main page. CoinSpot TransactionIn case everything is correct press the button “Confirm Buy”. In case you have verified your account you will see the payment methods available to fulfill this transaction. There is no CoinSpot withdrawal fee neither for AUD withdrawal nor for cryptocurrency withdrawals to external wallet . CoinSpot is designed to be easily accessible and user-friendly for both newbies and experienced users. CoinSpot is designed to be easily accessible and user-friendly for both newbies and experienced users.It also has a good reputation.

If you are not https://forex-reviews.org/ in Australia, you won’t be able to deposit funds with fiat money, which makes it difficult to get money into the exchange. Coinspot has a live chat facility that is available Melbourne time between 9am-10pm weekdays, and 10am-8pm on weekends. Alternatively, you can raise a support ticket from within your account. If you want to trade at Coinspot on the move, then you will need to access the platform via your mobile web browser. We found the mobile version of the site more difficult to navigate through in comparison to the main desktop website. When taking into account the lack of security features (such as multi-sig or cold storage of customer funds), we cannot say it is fully unsafe.

This is a must-have for serious traders who need to keep an eye on coin prices and to buy/sell quickly. Cointree review — strongly not recommended, since the prices there are worse than other places whether you’re buying or selling. Independent Reserve review — higher fees, but has the best volume. I’ve traded hundreds of thousands of dollars of crypto on this exchange. They are one of the leading Australian gateway companies into the crypto world, meaning that they allow the purchase of crypto with fiat currency. They are a member of ADCA – the Australian Digital Commerce Association.

There are numerous payment methods to deposit funds in the account. The most common choice is through bank transfer, using a direct deposit, POLi, PayID. Not every payment method incurs a trading fee. BPAY and Cash deposits are not generally preferred as there is a fee. CoinSpot is one of the earliest cryptocurrency exchanges in Australia, established in 2013, and has built up its reputation over the past decade of being the most secure and trusted platform. Despite the arrival of Swyftxand other top Australian crypto exchanges, CoinSpot remains the largest and most popular crypto platform, with over 2.5 million users.