CoinSpot Review. CoinSpot is an Australian-based exchange platform that supports a wide range of cryptocurrencies. Its features and services make it one of the best options for Australian crypto investors.
CoinSpot offers a unique fee structure that allows traders to trade at flat 1% fees for all buy, sell and swap orders. This is a competitive advantage over other exchanges that charge more than 0.10% in trading fees.
Easy to use
CoinSpot is a popular Australian crypto exchange that offers a wide range of currencies and altcoins to suit any investor’s preferences. The exchange is regularly adding new coins and tokens, ensuring that there’s always something new to explore.
Another great feature about CoinSpot is the way it utilises two-factor authentication to help users protect their accounts from hacking. This security measure requires users to input a unique code generated on their mobile phone before they can access their account.
Moreover, all user funds are stored in secure cold wallets with multi-signature access requirements and a strict withdrawal process that requires manual approval from the CoinSpot team before any of their money can be moved outside the platform. The platform is regulated by AUSTRAC, which further adds to its credibility as it adheres to the strictest anti-money laundering and counter-terrorism financing laws.
To further boost their security, CoinSpot recommends its customers use a unique email address and password for their accounts, activate 2FA and move their cryptocurrencies to a private, non-custodial or physical wallet for added safety. They also provide a range of FAQs to help answer common questions and queries.
In addition to these safeguards, CoinSpot also offers a referral program that allows customers to earn $10 in BTC for each referral who makes a deposit on the exchange. This is an excellent incentive to encourage new users to join the exchange and diversify their portfolios. In addition, CoinSpot has a range of crypto “bundles” that track the prices of a range of coins, making portfolio diversification easier. The fees on these bundles are usually lower than the average fee for individual coins on the market.
Easy to deposit
CoinSpot is a leading Australian cryptocurrency exchange that allows you to deposit and withdraw fiat currencies such as AUD (Australian dollars). This platform is easy to use and has a number of deposit methods. These include direct deposits via POLi or PayID, bank transfer from Osko, and BPAY.
These methods are free, and transactions are instant. In addition, CoinSpot supports a range of crypto “bundles” that track the price of different cryptocurrencies. These bundles provide exposure to a wider variety of assets and can help you diversify your portfolio more easily.
Another advantage of CoinSpot is that they’re regulated by AUSTRAC, an Australia-based anti-money laundering and counter-terrorism regulator. This ensures that the platform follows strict security procedures and adheres to industry best practices.
The exchange also has a referral program that rewards new customers with $10 in BTC whenever a friend uses their unique referral link to make their first AUD deposit. This program is an excellent way to introduce friends and family members to the world of digital currencies.
Once you’ve signed up, you’ll need to complete the ID verification process (as per CoinSpot’s AML policies) before you can deposit and withdraw AUD funds. This process requires you to upload government-issued identification proofs like passports or driving licenses with details like your full name, address and date of birth. You’ll also need to upload a selfie photo of you holding one of the documents.
Once you’ve completed the verification process, you can deposit funds in AUD and any supported crypto coins directly into your CoinSpot account using any of their payment methods. The most common deposit method is a direct bank transfer through Osko, but BPAY and Blueshyft cash deposits are also available at a small fee.
Easy to withdraw
CoinSpot makes it easy to withdraw your funds from the exchange and into your bank account. You don’t have to pay a withdrawal fee for AUD, and crypto withdraws incur no fees (except for gas fees based on the coins you are withdrawing).
The exchange also offers a variety of ways to deposit your money. You can use your bank account or a credit or debit card, and you can even add cash to your account through BPAY and POLi.
Another great feature is that you can store your coins in an online wallet, which you can access from any device. This allows you to keep your coins safe from theft. You can also set up recurring purchases, so that you can invest your earnings in cryptocurrencies on a regular basis.
One of the best features about CoinSpot is its industry-leading security. It’s the first Australian crypto exchange to receive ISO 27001 certification, which means that it undergoes rigorous audits and security measures.
Its servers and user data are secure, and the private keys are stored offline in a secure environment. You can even enable 2-factor authentication, which will make it harder for hackers to rob your account.
In addition, CoinSpot has a dedicated 24/7 Live Chat support team that can resolve all of your queries and issues. This is a fantastic feature for newcomers to the world of crypto, and it can make all the difference to your experience.
Moreover, CoinSpot supports several payment methods, including cash via BPAY and POLi, a specialised Over-The-Counter (OTC) service, and UPI and IMPS deposits. The OTC service allows you to trade large amounts of cryptocurrency for a low fixed price, reducing your risks and eliminating slippage.
Easy to create an account
CoinSpot is one of Australia’s best-known cryptocurrency exchanges and it’s easy to create an account on their platform. The site is user-friendly, with straightforward navigation and a clear design that makes it easy to find your way around.
The sign-up process is simple and quick, with CoinSpot asking for a few basic pieces of information. This includes your full name, an Australian street address and an Australian mobile phone number. Once you have this, you can start depositing funds into your CoinSpot account.
If you’re new to the crypto space, CoinSpot offers a range of educational resources and tutorials, which can help you get started. The website also has a comprehensive FAQ page, which can answer most questions you may have.
Creating an account on CoinSpot is free and takes less than 24 hours to complete. The exchange also has a basic referral program, which offers both you and your referee $10 in BTC for each new customer that you bring on board.
Once you’ve created an account, it’s time to choose a password and verify your email address. After that, you’re ready to start trading!
You can use CoinSpot to trade a variety of cryptocurrencies, including Bitcoin and Ethereum. The exchange also offers a number of other features, such as crypto cards and staking.
Staking your coins is a great way to earn interest on your investment. Staking is easy to do on CoinSpot, and it’s a great way to diversify your portfolio.
CoinSpot is one of the safest cryptocurrency exchanges in Australia, and they comply with AUSTRAC’s enforced Anti-Money Laundering laws. The exchange is also a member of the Australian Digital Commerce Association and adheres to industry standards, making it an excellent choice for anyone looking to make their first purchase of cryptocurrencies.
Easy to trade
CoinSpot is one of the most user-friendly crypto exchanges in Australia. It is especially easy to use for those new to the world of cryptocurrencies, and it offers a wide range of features that make it a great choice for anyone looking to start trading.
In addition, the site offers a variety of payment options for traders to choose from. These include POLi, PayID and Direct Deposit, which all offer fee-free depositing and are instant, while BPAY can take up to two business days.
The site also has a plethora of other features that help users to buy and sell a diverse range of cryptocurrencies. These include the ability to set up stop loss and limit orders, which can be useful in de-risking trades.
Traders can also benefit from a wide range of security measures, which are designed to protect user funds from hacking. This includes ISO 27001 certification, a robust data security system, and 2-factor authentication.
Another way to increase your security is to set up an automatic backup of your coins. This will prevent you from losing all of your coins if your device becomes lost or stolen.
Finally, you can get 24/7 customer support from a team of experts who are ready to answer your questions. They are available via live chat, email or phone.
The platform also features a multi-token wallet, which allows users to stake tokens in return for crypto rewards. This feature is particularly useful for those wishing to diversify their portfolios. It is possible to earn a range of tokens, including the top 10 bundle and social bundle, as well as AI-focused coins. Its UI is minimalist and easy to use for users of all levels.