CoinSpot cryptocurrency exchange review
Easily buy and sell a wide range of cryptocurrencies, with fees as low as 0.1%.
- Great for buying/selling crypto with Australian dollars
- No margin trading available
|Product Name||CoinSpot Cryptocurrency Exchange|
|Cryptocurrencies||BTC, ETH, LTC, XRP, BCH, BSV, EOS, TRX, ADA, GRT & 260+ more|
Instant buy: 1%
Market order: 0.1%*
*Applies to BTC, XRP, LTC, DOGE, ETH, NEO, POWR, GAS, TRX, EOS, XLM, RChain, RFOX
POLi & PayID: None
Direct Deposit: 0%
Direct bank transfer: None
|Withdrawal Fees||None for Australian bank accounts|
What's in this guide?
- What is CoinSpot?
- Which fiat and cryptocurrencies are supported?
- Which payment methods are accepted?
- What's it like to use CoinSpot?
- Fees and limits
- How fast will my funds be available?
- Is CoinSpot safe to use?
- How do I create a CoinSpot account?
- In a nutshell
- Compare CoinSpot against other exchanges
What is CoinSpot?
CoinSpot is headquartered in Melbourne and was founded by Russell Wilson in 2013 as one of Australia's earliest cryptocurrency exchanges.
As it grew it continued its mission of offering the most complete list of cryptocurrencies in Australia, and it now has hundreds of different coins available.
It's designed to be easy, accessible and user-friendly for both beginners and experienced cryptocurrency enthusiasts.
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: AUD
- Supported cryptocurrencies: Approximately 276 cryptocurrencies
Which payment methods are accepted?
- Bank transfer
What's it like to use CoinSpot?
Fees and limits
Platform trading fees
The fees below are accurate as of 15 December 2020.
|Platform fee type||Fee|
(for BTC, XRP, LTC, DOGE, ETH, NEO, POWR, GAS, TRX, EOS, XLM, RChain only)
|Online bank transfer (using POLi Payments)||None|
|Cash (via blueshyft)||2.5%|
|AUD withdrawal (Australian bank accounts only)||None|
|Cryptocurrency withdrawals to an external wallet||Network fees apply|
|POLi or direct bank transfer limit||No minimum|
|BPAY deposit limit||No minimim|
$10,000 per 24 hours maximum
|Cash deposit limit||$50 minimum|
$8,000 per 24 hours maximum
How fast will my funds be available?
Bank Transfer (Osko deposits) & POLi can be completed in under a minute, while Non Osko transfers take 2-6 business hours. PayID deposits are also typically instant. BPAY deposits usually complete within 4 hours.
Cryptocurrency deposits are available for 160+ cryptocurrencies including BTC and ETH. This can take a few minutes depending on the coin.
Same or next day
Fiat withdrawals can be completed on the same day if done early or the next day if initiated after 12pm AEST.
Cryptocurrency withdrawals take a few minutes depending on the coin.
Is CoinSpot safe to use?
- Regulation. CoinSpot is a certified member of Blockchain Australia, member of the Australian Digital Commerce Association and is registered with AUSTRAC as an Australian Digital Currency Provider.
- Year founded. CoinSpot was founded in 2013, making it one of Australia's earliest cryptocurrency exchanges.
- Verification process. With instant verification you can be verified and trading in minutes with only a Passport or Drivers Licence. To increase deposit limits above $2,000 AUD per day you will need to complete an extended verification process requiring an additional photo to meet CoinSpot's Know Your Customer (KYC) requirements ensuring the safety of the platform
- Safety features. CoinSpot maintains industry best-practice by securing a vast majority of assets in highly secure offline locations. CoinSpot has a suite of customisable account security settings such as Two-Factor Authentication, custom withdrawal restrictions and session timeout limit settings available to all users to improve the security of your account.
How do I create a CoinSpot account?
In a nutshell
- A local exchange headquartered in Australia since 2013.
- Allows users to buy directly in AUD
- Low and no-fee deposits and withdrawals
- User-friendly interface
- Wide selection of cryptocurrencies
- Compliant with AML/CTF laws
- Additional services such as a mobile app, OTC trading and SMSF support.
- Available only in AU
- Margin trading not available
Ready to sign up?