Posted at 14-10-2021 om 7:41

CoinSpot Review 2023: Features, Fees & Safety

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I left my old platform because they withdrew the earn function so looked around at a few other platforms that were available in Australia. CoinSpot’s earn function appealed and it was easy to set up, even for my SMSF. This is a service to move Fiat into crypto, it’s regulated and secure so it has to come with rules and follow laws, otherwise, it will be like another hacked exchange. Anyone who has been comparing multiple exchanges has come across a large number of poorly designed websites with confusing element layouts, obscure features, and unattractive interfaces. CoinSpot TradingThe pop-up window will be shown with the information related to the payment to confirm all the actions you make. Here you see the cryptocurrency chosen, the amount of crypto, CoinSpot fee (1%) and the total sum in AUD that you need to pay.

Think of the app as your banking app, not your youtube app… In accordance with its user-friendly approach, CoinSpot offers to go to the help section of the links or use the free communication channel when necessary. CoinSpot referral program encourages active community users and gives 10$ in BTC. Refer a friend to CoinSpot and you will both receive $10 worth of Bitcoin after they complete their first AUD deposit.


Furthermore, you can store all the available cryptocurrencies in CoinSpot Wallet. Australia’s governed financial sector regulates CoinSpot exchange. Australian Government Financial Agency, known as AUSTRAC, keeps tabs on all the financial transactions.


CoinSpot invests heavily in the security of our platform and keep security at the forefront of everything we do. I was scammed, all the funds I had with Coin Spot disappeared overnight and there has been no rational explanation. The team at CoinSpot have attempted several times to assist and resolve any issues that you may have had whilst utilising our Platform. However, these attempts have been unsuccessful as we have been unable to get in touch. Hi DB. CoinSpot operates with complete transparency and we have been independently audited to provide the highest possible level of assurance under Australian Auditing Standards.


68% of retail investors lose money when trading CFDs with this provider. Swap existing cryptocurrency with over 200 available cryptocurrencies on CoinSpot. You can use this option without KYC and swap currencies without giving any identity information.

CoinSpot Overview

CoinSpot is a good choice for Australians that want a safe and secure exchange to buy crypto. However, serious crypto traders may find the platform lacking. Like all other platforms that offer you the option to buy and sell cryptocurrencies with fiat, you need to verify your identity. Trade alerts can also be activated through the Account tab. As a result, traders can execute a trade at any time during the day and close all trade positions within the same day.

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If you would like us to investigate any interaction with our coinspot reviews, please provide the ticket number/s you have received. Once again we apologise for any uncertainty you may have experienced using the CoinSpot platform. We apologise for any inconvenience you may have experienced. Coinspot does not offer leverage on any of its crypto products. Once you have funded your account, you can then begin trading.

Supported Assets

Users can withdraw money anytime from CoinSpot via bank transfers for free. They need to fill up a withdrawal form stating how much money they wish to withdraw and where they want to send the money to. 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 to. CoinSpot is an Australia-based cryptocurrency exchange founded in 2013 by Russell Wilson, a renowned personality who had acquired major experience in creating online security software.

According to our CoinSpot review, we can safely conclude that CoinSpot is not a scam but rather an amazing platform for cryptocurrency trading with a lot going in its favor. CoinJar is also an Australian platform that allows you to easily buy and sell cryptocurrency. It provides simple payment and withdrawal methods, supporting fiat currencies. Also, in addition to buying, you can store bitcoins in an online wallet.

coinspot exchange

There is even something to learn from CoinSpot for some banks. Cryptocurrency is a technology without borders, but exchanges such as CoinSpot must comply with local laws and regulations. Traders who want more flexibility may prefer services that are not subject to Australian law. Digital assets are risky, check out the Risk Disclosure Document on your platform of choice for more details and consider getting advice from a professional. I’m pissed at the moment as I bought into KNC while we had the dip today it was 11% down at the time.

Safe? Here’s What You Need to Know

It’s easy to see how CoinSpot fees can get nasty if you don’t pay any attention to them . Coinspot is a premium crypto exchange aimed at beginners that offers over 370 digital assets, one of the largest selections in Australia. This CoinSpot review will assess and compare the main features such as its overall trading experience, deposit methods, trading fees, security, and customer support. The CoinSpot features an amazing mobile application that is as easy and useful as its desktop version. The company has announced to launch an iOS-compatible version very soon. With the CoinSpot app, users can easily and conveniently buy, sell, trade, and transfer supported cryptocurrencies from the CoinSpot wallet.

  • Coinstats platform gives you the best experience as regards to crypto and wallets, its all incluse wallet gives users access to varieties of options while still using the coinstats app.
  • We found the mobile version of the site more difficult to navigate through in comparison to the main desktop website.
  • This password can be sent to an account owner via SMS, email, or it can be generated on his mobile device.
  • Further, the account will be activated, and the primary login and registration process ends.
  • BTC Markets review — BTC Markets tends to have the highest trading volume of all Australian exchanges for Bitcoin.

The employs robust security measures to protect client funds and information and possesses ISO accreditation for IT securities. CoinSpot offers ‘Trading View’ charts and other advanced order types. Please feel more than welcome to continue communication with our team to assist with your account and answer any outstanding questions.

Claim your profile to access Trustpilot’s free business tools and connect with customers. Unfortunately, it’s not possible to leave a review here anymore because the company’s website has closed. Just select the coin you need from the list and click on it. It even includes a commission so that you can see how much the coin actually costs. Also, the cost of CoinJar is based on current spreads on the exchange and may vary.

  • The option is available both on the CoinSpot app and the desktop version.
  • Bundle together several different digital assets and buy them in one single purchase.
  • Besides cryptocurrencies, the exchange also supports DeFi tokens like Aave, Compound, Uniswap, Yearn Finance, and Sushi.

So, CoinSpot excels other exchanges in terms of protection, commission price, transparency, the operating time and the amount of cryptocurrencies available for trading. All these facts means that CoinSpot is a legit company that can be trusted. Since then, it has achieved great popularity and has been rated as one of the best exchange platforms. It is widely known as a crypto wallet that is suitable for beginners. Registration in CoinSpot is similar to registration on most exchanges, although the verification process requires some additional steps compared to other services (e.g. CoinSpot and eToro compared). No one knew that such a technological era would come, bringing with it the digitization of everything that was possible.

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Contacted the support crew and with a couple of questions and information they needed it was quickly found and appeared back in my wallet. It’s super easy to navigate and the support staff are absolutely efficient. Easy and simple to use for beginners and whoever want to start and learn to do trading. We aim to make trading simple for everyone, we are happy to hear you had a great experience. Coinspot supports more than 100 different cryptocurrencies. The only security features that we were able to identify are as follows.

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