The information regarding performance may be different from the time of publication. While we believe that all content was accurate at the time of posting, it is possible that some offers included in the content may no longer be valid. To create an account on CoinSpot, you must first go to the CoinSpot website and click on the “Register” button located in the page’s upper right-hand corner. To validate the email address, an auto-generated link will be sent to your email addresses, which help you activate your account.
- 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.
- CoinSpot also comes with responsive customer service and a ticket system.
- Once you have funded your account, You are live and ready to start buying your preferred coins.
- A very easy to use app interface and real time price updates and transactions.
- Alternatively, if you use the Instant Buy/Sell/Swap service, which allows you to buy a cryptocurrency directly from Coinspot without needing to use the exchange, then you’ll pay 1%.
- So chances are that there is a branch just around the corner from you.
This incident, confirmed by the Australian Financial Review, involved the transfer of funds from two CoinSpot wallets, utilising bridging services like THORChain and Wan Bridge. Trading features on the dashboard let you check multiple wallets in one location. You can use these buttons for quick sell-and-buy orders or check the price chart. You can see the portfolio’s visual chart with the distribution of coin holdings as well as its percentages. You can buy and sell Bitcoin and other cryptocurrencies instantly on CoinSpot. You can choose from over 200 coins and buy or sell them against AUD.
products vs alternatives
CoinSpot is a reputable as well as a trustworthy exchange that has not been hacked since it was founded originally in 2013. It is the first cryptocurrency platform in Australia to ever receive the internationally recognised ISO certification for information security. CoinSpot is suitable for traders of all levels, although more seasoned traders may find it a little lacking in functionality. It has a minimalist user interface with excellent charting using TradingView that is relatively easy to use. Browse our comprehensive list of cryptocurrency trading platforms now.
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, the Melbourne-headquartered cryptocurrency exchange that paid its owners $700 million in dividends over the past coinspot reviews two years, has been hacked, with more than $2 million drained from accounts. All in all we can say that CoinSpot is an excellent choice of crypto exchange platform if you are based in Australia. Crypto withdrawals are processed instantly, but the time it will take to arrive in the recipients address will depend on a range of factors, including the network congestion. This can make the waiting time anywhere from a minute to a few hours or more.
The following review is for informational purposes only and should not be construed as financial or investment advice. It is important to note that cryptocurrency is a highly volatile and speculative market, and there is no guarantee of profit or loss. This review is based on the author’s personal experience and research, and individual results may vary. The author is not affiliated with any of the exchanges mentioned in this review and does not receive compensation for their mention. It is recommended that readers conduct their own due diligence and consult with a financial advisor before making any investment decisions. The customer service team is also active on various platforms to answer any queries from their users.
Coinspot Earn
Users can trade more than 360 cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Ripple XRP, Cardano, and Solana, to name a few. More recently, CoinSpot added NFTs and DeFi to their list of tradable assets. A well-respected digital currency exchange based in Australia, it permits customers to buy and sell Bitcoin, among other things. Of course, the research experience can feel overwhelming because there are so many market choices today. For example, when it comes to the best cryptocurrency exchange, CoinSpot has been getting plenty of attention lately. If you want to trade at Coinspot on the move, then you will need to access the platform via your mobile web browser.
Platform & Features
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. CoinSpot has a Live Chat option that enables you to reach out for assistance immediately, 24/7.
With fees starting at 0.1% and no hidden costs, CoinSpot is one of the cheapest exchanges for traders in Australia. Take profit, stop loss, and recurring orders also attract a 1% fee. Once your account has been verified, you can buy and sell cryptocurrency instantly with a wide range of fiat deposit options including POLi payments, PayID, BPAY, credit and debit cards. They are not the only Aussie exchange with a similar range of account funding options. As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase…. When you have created your account for the first time and decided it is time to make your first purchase you head over to the buy&sell tab.
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I want to say that I don’t strictly consider this an investment (my investments are things that produce a yield and that will fund my Financial Independence and Early Retirement). This is more of a small gamble – a bit of a fun, an educational/learning experience and somewhat of a small hedge against my own prior cynical bets. If it all goes tits up then that’s a good lesson, and I will report regularly about what happens in my monthly net worth updates. The Coinspot exchange lets you buy and sell individual cryptocurrencies using the AUD $. 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.
It doesn’t let you use your credit cards or debit cards to put money in for buying cryptocurrencies. My personal favourite is ‘Top Ten Market Cap’ which is exactly as it sounds – the top ten biggest coins based on their market capitalisation. I find this to be a good buy because it includes all the popular coins that I like to buy anyway, such as BTC, ETH, BNB, ADA and it spreads out risk to reduce volatility. In the image below, you can see all the Bundles offered by CoinSpot. To find out more details about the security features of CoinSpot, click here. Based in Australia, it is a well-trusted exchange that is highly respected in the local cryptocurrency community and is suited for beginners.
However, if you’re only trading small amounts, you won’t be able to use this facility. The exchange offers over 300 altcoins including some new coins that have just been released on the market. Like all other platforms that offer you the option to buy and sell cryptocurrencies with fiat, you need to verify your identity. The only pitfall we can see with CoinSpot is the lack of crypto margin trading where traders are able to short-sell the market, which I know is very popular.
As shown by most CoinSpot reviews on Reddit, Trustpilot and other platforms, I believe customer service is among the most important criteria when we assess a trading platform. Some exchanges receive terrible reviews on Trustpilot because they are unresponsive to customers’ questions. However, if you want to invest with CoinSpot, there’s no need to worry about this issue.
Users who can’t find help in the FAQ section can get in touch with the support team by using the help widget in the bottom right corner. 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 in less than 24 hours on a business day.
There are no limits for the amount you can buy per day, but there are limits on the amount of cryptocurrencies that you can buy or sell per transaction. As with any cryptocurrency exchange, it’s recommended you log out once you have finished trading. Each time you want to buy or sell, you’ll need to log in to your CoinSpot account. For this, you’ll need to enter your email address and unique password. Buying or selling is as simple as clicking on Buy/Sell in the top panel, then choosing your desired coin and entering the amount of cryptocurrency, or the amount in AUD you wish to spend.
The digital assets were then moved through two bridging services, THORChain and Wan Bridge. Bridging services are used to move digital assets across different blockchains, and are secured by private keys that register the real owner of the cryptocurrency. RankFi’s content is meant to be informational in nature and should not be interpreted as investment advice. RankFi.com is not a registered investment, legal or tax advisor or a broker/dealer. Trading, buying or selling digital assets should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
CoinSpot is one of the safest Australian crypto exchange platforms, with more than 250 cryptocurrencies. It has been available since 2013 and has earned its millions of users’ trust. CoinSpot is one of Australia’s most secure and reliable crypto platforms. When you use CoinSpot online wallet, you can set account-wide withdrawal restrictions and Two-Factor Authentication (2FA) as an additional security measure.