Founded by cyber-security expert Russell Wilson, it was one of the country’s first major crypto exchanges. Since its inception, it has consistently provided broad selections of digital assets in the crypto market. However, you should be careful not to use the instant buy/sell feature too frequently or for large orders, as it does attract a hefty 1% fee – plus a spread.
- The collection includes some of the most popular NFTs such as Board Ape Yacht Club.
- I actually would have lost money so I held off and sold when I was close to breaking even.
- The supported digital currencies include Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash, NEO, Cardano, TRON, EOS, and Stellar Lumens.
We’re talking about a platform that promises easy trading, a wide range of supported cryptocurrencies, and a strong security system to keep your investments safe. Launched in 2013, Coinspot is a third-party cryptocurrency exchange based in Australia. The platform has an extensive range of supported coins, with more than 100 cryptocurrencies available to buy and sell. 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. Buy your favourite coins automatically by setting up recurring AUD deposits and recurring purchases.
The platform provides a safe and reliable platform for trading (buying, selling, or exchanging) cryptocurrencies. The company has become an official ADCA or Australian Digital Commerce Association member. It is a non-governmental agency known for its unputdownable commitment to providing legal protection to its registered clients. To start trading on CoinSpot Australia, you must first have a CoinSpot account.
Supported Cryptocurrencies
CoinSpot provides a comprehensive Help Centre that contains guides and Frequently Asked Questions to assist beginners. Most users will be able to get started with CoinSpot to buy Bitcoin and other digital assets with the assistance of CoinSpot’s Help Centre. There are no maximum or minimum deposits but there is an overall earn cap depending on how many customers are currently loaning their coins. If a cryptocurrency reaches 100% of its earn cap, the earn wallet will no longer be available for that particular crypto. Additionally, customers who deposit over a certain amount of an asset will be subject to lower yields.
No withdrawal fee is charged for withdrawing funds using bank transfers like POLi or PayID. These bundles are special tools that help traders to diversify their cryptocurrency portfolio. Buying coins in bundles allows traders quebex to purchase a significant amount of crypto assets in a single transaction, which saves a lot of time and fees. The customer service team is also active on various platforms to answer any queries from their users.
A-Z of Bitcoin Exchanges
Don't forget to utilise this link to sign up and receive a welcome offer of $20 in Bitcoin for free. The exchange has just released the CoinSpot app for iPhone and Android users. If users forget the account’s password, resetting the account’s password is easy. In addition, the CoinSpot app provides streamlined access to your Bitcoin wallet to view your recent order history, send and receive funds directly, and track your recent send and receive transactions. It is also easy to access CoinSpot’s knowledge base and support team for any queries you have along the way.
CoinSpot Deposit and Withdrawal Methods
You can check how your withdrawal is going on the “Transaction Tab” of each wallet page. CoinSpot does not specify a minimum or maximum withdrawal amount for coin and token withdrawals. Coinspot is usually my onramp to move fiat to btc then to move to other exchanges but not any more. I actually would have lost money so I held off and sold when I was close to breaking even. It surpasses competitors by automatically blocking 100 times more harmful websites and 10 times more malicious downloads. Earlier this year, $64 million was stolen from cryptocurrency casino Stake.com, co-founded by Ed Craven, one of the country’s youngest billionaires.
Very user friendly Apps
Before digging into our comprehensive CoinSpot review, let’s look at the pros and cons of the platform. After your friend has made the first AUD deposit, you both will receive $10 worth of Bitcoin. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
Whenever you swap crypto with another CoinSpot user, you will only pay a 0.1% commission. CoinSpot is a leading cryptocurrency exchange in Australia that has been operating since 2013. It lets you access over 400 digital currencies and offers various trading options such as instant buy/sell, market orders, limit orders, and stop-limit orders. Additionally, with CoinSpot, users can download their Australian transaction reports to track their trading strategy. CoinSpot is currently the number one cryptocurrency exchange in Australia for this very reason. The combination of highly secure storage and systems + the ease of feeless deposits makes CoinSpot highly recommended to beginners and experienced traders alike.
CoinSpot Mastercard
For those first foraying into the crypto sphere, it is effortless to buy, sell or swap various crypto-assets, as the dashboard shows great details about coins, their current prices, their volume, etc. Amid hundreds of cryptocurrency exchange platforms available, there are plenty of unique features and services that set CoinSpot apart from the crowd. And if you are wondering how CoinSpot works, let’s take a look at the following features in detail. Keep reading this CoinSpot review to learn about CoinSpot trading fees, security and other features to know the answers to these questions. You can also speak to them instantly throughout the live chat operating hours!
Users can withdraw funds anytime from CoinSpot via bank transfers for free. They need to fill out a withdrawal form stating how much money they wish to withdraw and where they want to send it. Traders can do this by clicking on the ‘Account’ tab and then filling in the bank details and account number they wish to send their funds. It also accepts DeFi tokens and supports other financial protocols like Aave, Uniswap, and Compound.
For trading, major coins like BTC, ETH, XRP, BCH, EOS, LTC, BNB, HOT, TRX, ADA, and NEO all have limits of $100,000 per transaction. Coinspot provides the option to buy and sell cryptocurrency instantly to do so by clicking on the 'Buy/Sell' link at the top of the page. There are over 200+ coins that can be purchased instantly or sold back to AUD. CoinSpot is a reputable and trustworthy exchange that has never been hacked since it was founded in 2013.
Although Coinspot is an Australian exchange with a strong focus on Australian residents, users from other countries can deposit and withdraw funds in the form of cryptocurrencies. The platform does not specifically make any mention regarding prohibited countries, which indicates that the exchange is accessible on a global basis. They have a clean track record since being founded in 2013 and have multiple security layers like storing funds in cold storage and giving users 2FA for logins and withdrawals.
Thus, CoinSpot employs robust security measures and complies with the International Organization for Standardization for its security mechanisms. However, you are advised to check the complete fee structure of this Australian cryptocurrency exchange; click here to find it now. In addition, CoinSpot’s information centre includes helpful tutorials for newbies and a FAQ section for new investors to buy Bitcoin and other digital currencies.