Cointree cryptocurrency exchange review – July 2018

This Australian crypto exchange offers a user-friendly interface and access to 17 leading digital currencies.

Cointree is a Melbourne-based cryptocurrency exchange that aims to provide users with a simple and secure crypto trading experience. Established in 2013, Cointree underwent a rebranding and launched a new trading platform in June 2018. The new platform offers the opportunity to buy and sell 17 cryptocurrencies, plus also includes a Learning Centre designed to educate novice crypto enthusiasts.

Let's take a closer look at what the revamped Cointree exchange has to offer so you can make an informed decision about whether or not it's the right digital currency trading platform for you.

Product Name Cointree Cryptocurrency Exchange
Fiat Currencies AUD
Cryptocurrencies BTC, ETH, BCH, EOS, ZRX, AE, AION, REP, DGD, ICX, IOST, OMG, PPT, SNT, TRX, VET, ZIL
Deposit Methods Cash, Electronic Funds Transfer, POLi, Cryptocurrency
Trading Fee 3%
Deposit Fees None
Withdrawal Fees None

Pros

  • Good platform for novices. Simple signup and interface for ease of use.
  • Proof of solvency. Verification that your bitcoins are genuine.
  • Learning Hub. Large selection of resources to help you learn more about cryptocurrency trading.
  • Security. Cointree employs a host of security measures to protect your funds.
  • 17 digital currencies supported. Cointree allows you to trade a host of popular cryptocurrencies.

Cons

  • Basic functionality. Advanced trading features not available.
  • Still being developed. New platform does not yet offer the full range of features.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Cointree?

Cointree is a registered digital currency exchange with AUSTRAC. Since 2013, Cointree has been a platform where users can buy and sell bitcoin (BTC) using Australian dollars (AUD), pay billswith BTC, and trade BTC for a variety of altcoins. It also supports AUD deposits using a range of payment methods, and caters heavily to new and casual traders with an emphasis on easy sign-up and a simple interface.

All these same features will be available on Cointree's new trading platform, but a number of extra features have been added. Cointree now allows users you to store your favourite altcoins in your Cointree account, rather than needing to use your own private wallet, and has introduced a portfolio tracking feature to make it easier to track the performance of your crypto holdings. An online Learning Hub also provides information and advice for crypto newcomers.

Which cryptocurrencies can I buy/sell?

Cointree allows you to trade the following cryptocurrencies:

  • 0x (ZRX)
  • Aeternity (AE)
  • Aion (AION)
  • Augur (REP)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • DigixDAO (DGD)
  • EOS (EOS)
  • Ethereum (ETH)
  • ICON (ICX)
  • IOSToken (IOST)
  • OmiseGO (OMG)
  • Populous (PPT)
  • Status (SNT)
  • Tronix (TRX)
  • VeChain (VEN)
  • Zilliqa (ZIL)

Available countries

Cointree is available to anyone worldwide who is 18 years of age or older.

Which payment methods are accepted?

At time of writing (July 2018) the new Cointree platform was still a work in progress. In this "early access" phase, it was only offering coin-to-coin trading, so the only way to deposit funds into your account was via cryptocurrency transfer.

Support for AUD deposits was scheduled to be added in the future, but no exact date had been provided. However, users will eventually be able to use the following deposit methods:

  • Cash deposits at selected Australian bank branches
  • Electronic Funds Transfer (EFT)
  • POLi Payments

How much will it cost me to use Cointree?

During the "early access" phase of the new platform, Cointree is allowing users to trade from crypto to crypto with 0% commissions. However, at time of writing there was no information available on how long fee-free trading would last.

In its online help section, Cointree lists the following fees:

Transaction typeFee
Buy bitcoin3%
Buy altcoin0%
Sell bitcoin0%
Pay bill0%
Send bitcoin0%
Receive bitcoin0%

The only fee charged directly by Cointree is a 3% commission (including GST) on bitcoin purchases. However, that doesn’t mean you won’t incur other costs through third- party services that Cointree uses on your behalf.

Cointree also doesn't charge any fees when you swap bitcoin for altcoins. This service is provided by third-party service ShapeShift, which sets its own conversion rates.

How fast will my funds be available?

The purchase timeframe for receiving the bitcoin you buy will also depend on the payment method you choose.

Payment methodWhen is BTC available?
Cash at a bank branchThe AUD you deposit usually arrives within 1 hour, and purchases are typically made within 30 minutes of funds arriving.
POLi PaymentsPurchases are completed instantly, but it does take 1-2 business days for cleared funds to appear in Cointree's account.
Online bankingPurchases are completed once the cleared funds arrive in Cointree's account, which usually takes 1-2 business days.

Are there any transaction limits?

The minimum amount of bitcoin you can purchase with Cointree is $200. Upper transaction limits vary between accounts and purchase options, so login to your Cointree account for full details of any restrictions that apply.

When selling bitcoin, the minimum limit is once again $200. You can sell up to $50,000 of bitcoin per day, but this will need to be processed in $10,000 transactions.

Is it safe to use Cointree?

Cointree implements a number of protective measures to increase the security of your funds:

  • A hot/cold wallet system
  • 2-factor authentication on all fiat and cryptocurrency withdrawals
  • All Cointree website traffic runs over encrypted SSL
  • All user passwords are hashed and salted in the database
  • All Cointree employees are required to pass a criminal background check before being hired
  • ID and bank account verification required
Proof of Solvency
Cointree provides all users with Proof of Solvency. Proof of Solvency (PoS) is a process to verify your bitcoins are real and to view your bitcoin transactions through an external website. You can access this feature by logging into your account.

Customer support

CoinTree offers two main options for support. The first is an expansive FAQ section which seeks to address a wide variety of common questions traders may have. The second is the option to submit a support ticket if you require further assistance.

Pros and cons

Pros

  • Good platform for novices. Simple signup and interface for ease of use.
  • Proof of solvency. Verification that your bitcoins are genuine.
  • Learning Hub. Large selection of resources to help you learn more about cryptocurrency trading.
  • Security. Cointree employs a host of security measures to protect your funds.
  • 17 digital currencies supported. Cointree allows you to trade a host of popular cryptocurrencies.

Cons

  • Basic functionality. Advanced trading features not available.
  • Still being developed. New platform does not yet offer the full range of features.

Next steps

Compare Cointree with a variety of other crypto exchanges to decide whether or not it's the rightfit for your needs. If you'd like to sign up for an account, you can begin the registration process on the Cointree website. You'll need to provide your email address and create a password, and then verify your bank account and ID.

Don't forget to also enable 2-factor authentication on your account before you deposit any funds and start trading.

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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2 Responses

  1. Default Gravatar
    IanDecember 9, 2017

    Which australian exchange lets you withdraw funds when you sell your coins and also supports multiple coins?

    • finder Customer Care
      JoanneDecember 12, 2017Staff

      Hi Ian,

      Thank you for visiting finder, we are an Australian financial comparison website and general information service.

      For this you will need to research on each of the exchanges so you can check which of those support the coins that you wish to trade.

      This page will show the following platforms that are available in Australia and offer cryptocurrency trading. Some trading platforms will suit your needs much better than others. It’s worth comparing them in detail and trying demos where available to find the one you like.

      Cheers,
      Joanne

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