You can also speak to them instantly throughout the live chat operating hours! Moreover, the platform also has a dedicated FAQ section to help beginners with various issues like verification and login, trading and exchange, fund withdrawals etc. 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. This CoinSpot Review shows that trading fees vary based on the order type.
For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. This CoinSpot review would be incomplete without some discussion on its crypto card. To use it, people must top it up with cryptocurrency, which they can then use to make fiat purchases online or even in physical stores. When you do this, CoinSpot will make a quick swap from the cryptocurrencies on the card to fiat. Along with its SMSFs, it should be pointed out in my CoinSpot review that it offers easy self-auditing tools for tax seasons, and even 24/7 customer service and support. Plus, when people engage in this, they receive a copy of the trust deed, as well as additional trust beneficiary details.
Depending on their workload, the verification process may take up to two days. You can monitor the status of your withdrawal in the “Transaction Tab” of the wallet page. Additionally, if your withdrawal hasn’t been processed yet, you can cancel it at any time.
Very easy and user friendly but…
- The Coinspot “Exchange” can be accessed by clicking on the “Market” link on the top menu.
- Additionally, the platform offers an instant buy and sell feature, making the process fast and efficient for those who want quick transactions.
- Intermediate and advanced traders have trading tools such as indicators, trendlines, and technical patterns at their disposal.
- Creating an account, completing ID verification, depositing funds, selecting an asset, buying and selling, and withdrawing funds is fast and easy.
- You can enter the amount of AUD to spend and choose the amount of crypto to purchase.
- To the extent any recommendations or statements of opinion or fact made in a story may constitute financial advice, they constitute general information and not personal financial advice in any form.
Of course, those who are not Australian residents, may wish to look elsewhere, such as Binance or Kraken. Your account will now be created, and you will be able to see your profile. However, you can actually see and use the platform to some extent before even opening this email. No matter how good a project or platform is, there is always going to be a handful of demerits. This is true of all companies, and so it must be highlighted here in my CoinSpot review.
Is CoinSpot Safe? (2025 Expert Review)
Bybit offers the widest selection, with over 802 cryptocurrencies available, while CoinSpot has more than 400, and Swyftx offers over 310. For those interested in exploring a variety of tokens, Bybit stands out as the top choice. This CoinSpot Review emphasizes that users benefit from fast, secure, and easy withdrawals.
Customer Support at CoinSpot
In other words, there is no limit when it comes to performing these trades. That’s another aspect that is boasted in several CoinSpot reviews. One of the best methods of discovering whether an exchange caters to beginners is to see if it offers instant swaps and trades.
Rookie!! – As a rookie… I found CoinSpot easy to…
With over 360 digital assets available for trading, you have a broad range of investment options. This variety is ideal for both beginners looking to purchase popular coins like Bitcoin or Ethereum and advanced traders who want to explore altcoins or diversify their portfolios. Moreover, Coinspot’s NFT marketplace allows users to buy and sell non-fungible tokens, adding another layer of flexibility to the platform.
- As a leading crypto exchange, the platform supports many cryptocurrencies, ensuring a broad selection for traders looking to buy crypto.
- The platform supports various popular NFT collections like Invisible Friends and Azukis, allowing users to purchase their favourite digital assets using any cryptocurrency available on the exchange.
- You can check price graphs, sell, trade, buy, transfer from the wallet, track your cryptocurrency portfolio in one place.
- He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing.
- The wallet is multi-chain, supporting all coins listed on the platform, and allows users to store, trade, and manage their assets easily.
- I have been writing about all aspects of household finance for over 30 years, aiming to provide information that will help readers make good choices with their money.
However, processing times can vary and may take up to 12 hours, depending on factors like wallet operations, available funds, and email confirmation. CoinSpot provides several deposit options for fiat currency in Australia, including Bank Transfer, BPAY, POLi, PayID, Direct Deposits, or Cash. However, you cannot use credit or debit cards to fund your account for cryptocurrency purchases.
Can I Access CoinSpot from Outside Australia?
Targeting exclusively Australian residents, CoinSpot stands out by customising its exchange services specifically for them. Like other exchanges that operate in Australia, CoinSpot reports transactions to the Australian Taxation Office (ATO). This means CoinSpot has gone through rigorous external audits to ensure its security measures meet industry best practices. CoinSpot is a safe and trusted exchange for Australian crypto investors. A wide-ranging and highly competent Australian-focused crypto exchange.
User friendly and makes trading easy
This is an extremely steep rate, which makes it feel like beginners are paying a high premium for using a simplified interface. While many investors will appreciate a fully-fledged application (which the CoinSpot exchange also has), those who are new to crypto, often want to avoid these complexities1. You have complete flexibility as you can sell the coins in a Bundle separately or individually. If you only want to sell one of the coins from the Bundle, you can go ahead witHowever, you. However, you will have to sell the coins individually if you’re going to sell coinspot reviews all of the coins. After that, your CoinSpot account verification will occur instantly, and you will be able to deposit up to $2000 per day.
This means we may earn a commission if you click on certain links or sign up for services through our recommended partners, at no extra cost to you. However, our content is written independently, based on hands-on experience, research, and a strong commitment to transparency. We only recommend platforms or tools we genuinely believe can bring value to our audience. Compensation never influences our evaluations, rankings, or opinions. You can check price graphs, sell, trade, buy, transfer from the wallet, track your cryptocurrency portfolio in one place. Trading features on the dashboard let you check multiple wallets in one location.
CoinSpot account opening is quick and easy.
Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews. If you want to avoid fees, just stick with PayID or direct bank transfers. Whenever I contacted support they were quick and actually helpful. There are two main drawbacks of using CoinSpot, which relate to advanced features and fees. CoinSpot is designed to appeal to beginners and intermediate traders.
The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. This process is quite strict and requires a little more effort than verifying identity on some other exchanges. 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. All the major features can be accessed with just the click of a button—for example, you can click the “Wallet” tab to instantly see your portfolio. The platform’s landing page shows the top coin gainers for the day, letting customers quickly buy and sell these assets after login.
For this reason, there is a huge range of exchanges and platforms that cater to specific countries and nations. CoinSpot will charge you a standard transaction fee when you send coins to external wallets. The fee will be different per coin as the fee is dependent on the particular blockchain. Yes, CoinSpot is a safe and secure platform, as it stores most of the assets in highly secured offline wallets. Besides, CoinSpot has never gotten hacked, even once in its lifetime. You can buy and sell Bitcoin and other cryptocurrencies instantly on CoinSpot.