CoinSpot Review 2022: Details, Fees & Features

With a user-friendly, intuitive design, SwapSpace makes it easy and efficient for everyone – pros and novices alike – to get the best rate available on their desired trading pair. So, whether you are an expert trader or just a novice, this swap site makes it quick and convenient to find the best options for you. CoinSpot crypto OTC market offers wealthy Australian investors to make large investments in Bitcoin and other digital assets with a fixed price and no risk of slippage. When you contact the OTC desk on CoinSpot you will be assigned a personal account manager that will give you a quote at a fixed rate.

The only security features that we were able to identify are as follows. Copy the code, head over to your private wallet, and then transfer the funds across. This includes crypto-to-crypto trading pairs, as well as crypto-to-AUD. Changelly’s 0.25% commission fee is certainly one of the more appealing rates in the market.

In terms of order types, users can set up stop loss and stop limit orders, which are useful to de-risk trades. Needs to review the security of your connection before proceeding. CoinSpot is the first and only Australian crypto platform to hold ISO certification, and is proud to retain it. CoinSpot’s instant buy/sell fees are 1%, which is slightly higher than the industry average. However we do recommend the customer bear a few things in mind when comparing fees.

We have been operating since 2013 and hold the highest level of certification in Australia. We’d be happy to take a look directly into your experience and ensure your circumstances are resolved immediately. Please provide any ticket numbers from our Support team and we will follow this up right away. CoinSpot invests heavily in the security of our platform and keep security at the forefront of everything we do. My account was scammed, coin spot could or would not protect my account.

The platform has a great rewards program where you can earn $10 of Bitcoin every time you refer a friend to the platform. For those interested in buying NFTs, CoinSpot has a native NFT wallet and a limited range of NFT markets . CoinSpot has an intuitive and minimal design that shouldn’t pose any difficulties for new and experienced investors. The website as well as the mobile applications, in other words, the entire CoinSpot platform, is operated and controlled by Casey Block Services Pty Ltd. . Offers a set of features that are similar to those of CoinSpot.

Is CoinSpot trustworthy?

The fee is regularly monitored and maintained to ensure it is inline with other international exchanges. Please feel free to contact our support team for more information about the coin your referring to. CoinSpot supports all the major cryptocurrencies, as you would expect it to, but with its range of over 370+ different coins, it has some options that you may not find on other exchanges. As the most trusted and secure exchange with over 2.5 million users, and access to 370+ coins, it is easy to see why CoinSpot is one of the best exchanges in Australia. Don’t forget to sign up with this link, and receive $20 Bitcoin FREE as a welcome offer. It was also audited by SCI Qual International (a JAS-ANZ certification body) and awarded the highest ISO standard.

You will find all the major coins like BTC, ETH, LTC, XRP, and BNB, as well as many small altcoins that you may not even have heard of or explored through CoinSpot review. CoinSpot even offers crypto interest for 21 coins so that you can grow your crypto long-term. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

coinspot reviews

CoinSpot has the lowest fees in Australia for market orders, although instant buy and sell fees are higher than what other platforms offer. Not only is CoinSpot safe, but it also offers great customer service. The site has an extensive Help Centre which offers a plethora of promoted articles with lots of helpful information about deposits, withdrawing, trading, and everything in between.

Thus, CoinSpot employs robust security measures and complies with the ‘International Organization for Standardization for its security mechanisms. The exchange offers over 300 altcoins including some new coins that have just been released on the market. 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.

Is CoinSpot safe to use?

There’s a cool feature called ‘markets’ and once you get hang of it, you can get more bang for your buck. You save a lot in terms of commissions when buying and selling. I heard about this app through a friend and found the whole experience of downloading the app to opening an account and immediate funding of my wallet by POLI so easy. There is a big choice of crypto to choose from with meaningful analysis and % movements.

CoinSmart allows you to buy and sell Litecoin Cash, Bitcoin Cash… Users who conduct high-volume transactions can take advantage of CoinSpot’s OTC (Over-The-Counter) Trading Desk, which offers instant liquidity and settlement into your account. For transactions of $50,000 AUD or more, this is usually the best option. This feature also comes with the ability to utilise a CoinSpot Account Manager to call you and execute the trade on your behalf 7 days a week.

coinspot reviews

Nevertheless, you are free to use any wallet or token of your choosing in order to buy and sell NFTs. When this occurs, there is typically a disparity between the price at which you can acquire the asset and the price at which it can be sold at any given moment. This is because the price at which you can buy the asset affects how quickly it can be sold. The spread is the difference between the asking price and the purchasing price, which is often referred to as the bid price. The buying price is nearly always greater than the asking price.

Additionally, despite the fact that the trading platform has a good number of features and options for advanced traders, the primary goal is to simplify the process as much as is humanly possible. CoinSpot is a cryptocurrency trading platform and exchange that prioritises ease of use over the provision of the maximum amount of features, in contrast to most other trading platforms and exchanges. The fact that their platform can be navigated in a straightforward manner and is quite easy to understand further contributes to the platform’s attraction to customers. In summary, Coinbase does have some notable features and a regulated exchange. We really like how clean and crisp the platform is, which makes it super simple for those that don’t have much experience in using cryptocurrency exchanges. We also like the fact that Coinspot lists more than 350 cryptocurrencies.

Once your account is funded, you can then begin trading at Coinspot. For anyone looking to easily manage and keep track of their digital assets without worrying, ChangeNow is the ideal platform. Not only does it offer a mobile app for Android and iOS users, it also has the NOW Wallet which allows you to securely store your digital investments without having to give away personal information. And keeping track of the ever-changing crypto landscape is easy with NOW Tracker, its custom portfolio management tool that allows you to easily track the market activity of your coins at a glance. The best cryptocurrency exchange in Australia CoinSpot allows its registered users to buy or sell cryptocurrencies like Bitcoin instantly.

Additionally, you will have the capability to move cryptocurrencies to and from other third-party wallets, such as Metamask, when using this wallet. Because CoinSpot’s pricing is mostly based on a commission-based approach, the company makes more money as a percentage of the total number of transactions that are processed through its platform. As was just said, CoinSpot gives its users the ability to buy and sell cryptocurrencies without having to go through a cumbersome process beforehand. The CoinSpot app will also take a wide number of additional DeFi tokens and coins in addition to these cryptocurrencies. Some examples of these tokens and coins are the AAVE token, the Uniswap token, and the COMPOUND token. The capability to trade using margin is yet another really important function that is lacking from the platform.

Coinspot Cryptocurrency Exchange Review

It maintains industry best practices by securing most assets in highly secure offline locations. You don’t have to worry about CoinSpot losing or stealing your money or filing for bankruptcy like other exchanges have done in the past. We offer investors many opportunities in the digital asset industry. Our platform is a financial access point that allows anyone to invest anywhere and anytime.

  • Stop-Loss and Limit Orders are available to help you take advantage of market opportunities.
  • SwapSpace offers traders over 420 cryptocurrencies and 2,100 pairs to swap and trade.
  • We’ll discuss everything from fees, supported coins, payment methods, security, regulation, and more.
  • Contacted the support crew and with a couple of questions and information they needed it was quickly found and appeared back in my wallet.

The Australian crypto market is expanding rapidly, and various exchange platforms are available. Some are geared toward novice investors, while others are for seasoned financiers. Even if you aren’t available to start a live chat, you can send a message to their Help Desk 24/7.

How to Fund Your CoinSpot Account?

The app’s basic design guarantees that inexperienced traders and investors will not be deterred or frightened by the sheer amount of accessible features. Due to the nature of the application, individuals will be able to make the transition to become expert traders and investors at their own speed. CoinSpot is a cryptocurrency exchange that operates on the Australian continent and has its headquarters in the city of Melbourne. It was initially established in the year 2013 by Russell Wilson, and since that time, it has developed into one of the most significant cryptocurrency exchanges in the nation of Australia. 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.

What Makes CoinSpot Stand Out From Other Exchanges

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future. CoinSpot has long since been a proponent to the Australian Digital Currency Industry Code of Conduct and receiving this certification only solidifies CoinSpot’s position as Australia’s most trusted exchange. Withdrawing AUD from CoinSpot is free of charge, while crypto withdrawals will incur a specific fee based on the coin you choose. Because CoinSpot has had experience handling retirement business, they also know the importance of easy tax reporting. That’s why they support fast and easy EOFY reports, to take the guesswork and worry out of the process.

If the Coinspot servers were hacked, your funds could be at risk. Although this step is not compulsory, you are advised to set-up two-factor authentication . This will add an extra layer of security on your account, and help to keep coinspot reviews your funds safe. Unless you are based in Australia, we would suggest re-thinking your plans to open an account at Coinspot. This is because you are severely limited when it comes to depositing and withdrawing real-world funds.

The support team will get back instantly to process your ticket, allowing you to respond whenever you are ready. The Bundles feature not only gives you an idea of the currency to invest in but also helps you diversify your portfolio to hedge against risk. In addition, you can cut down the fees by just paying one time for the whole bundle instead of paying the fee for each coin . To place an order on CoinSpot, click on any cryptocurrency market to see current prices and access advanced charting.

Then enter your wallet code after specifying the amount you wish to deposit and your 2FA code for security measures. AUSTRAC has also registered the company, meaning CoinSpot must follow strict guidelines as part of the Australian Digital Commerce Association. Partnering with ZenDesk, a customer support service system in the US, also allows users with unique queries to voice their concerns to real representatives despite their location. All you have to do is fill out a support form and send it via email to ZenDesk, and the support team will respond as soon as possible. Currently, CoinSpot doesn’t have a direct helpline where you can reach a team member for assistance.

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