CoinSpot is better for Australians using AUD, offering local payment methods like PayID and no currency conversion fees.
Coinbase has a slicker interface and more advanced trading tools, but it’s geared towards a global (mostly US) audience and charges foreign exchange fees for AUD users
CoinSpot supports more coins popular in Australia, including trending memecoins, while Coinbase tends to list more established global assets.
CoinSpot was launched in 2013 and has grown to host a user base of over 2.5 million registered customers. The platform has an intuitive interface, a big range of coins on offer and has never been hacked, making it a popular choice for crypto novices.
Coinbase has been around for even longer, founded in 2012 by American Brian Armstrong before expanding its operations to support Australian customers in 2016. Coinbase has consistently been ranked as one of the highest-volume cryptocurrency exchanges in the world and has a broad range of features suited for beginners and experts alike.
We've compared these exchanges' features to help you choose the best crypto platform for your specific needs.
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.
CoinSpot is headquartered in Melbourne, Australia, whereas Coinbase doesn't actually have a registered head office – instead, it is a "remote-first" business.
Both CoinSpot and Coinbase are registered with Australian regulatory body AUSTRAC, so comply with anti-money laundering (AML), know your customer (KYC) and counter-terrorism financing (CTF) protocols.
Both exchanges support earning features, giving investors the potential to earn passive income on their assets, as well as the option to place a recurring order. Both exchanges also offer crypto "bundles" instead of singular coins, much like a traditional ETF.
Each platform has a multi-token wallet that can be used to store or transact a wide range of cryptocurrencies. The key difference is that Coinbase's wallet is a separate application to its exchange and can be used independently.
CoinSpot's fees are competitive, particularly for an Australian exchange (which tend to have higher fees). Market orders incur a 0.1% fee on certain cryptocurrencies, with a 1% fee for instant buys. There are no withdrawal or deposit fees for Australian dollars, which is a nice selling point to help save on transaction fees.
Conversely, Coinbase's fees for Australians are comparatively high. Every order on Coinbase has a flat fee of 3.99%, which is one of the poorest rates available for Aussie residents.
With that said, it's worth considering CoinSpot's spreads are much higher than Coinbase's. Spreads are essentially the difference between a crypto's market price and the price it's eventually sold for. Though these rates are constantly fluctuating, CoinSpot's spreads are usually around 3%, compared to Coinbase's 0.5%.
Our expert says
"Fees can quietly eat into your returns if you’re not paying attention. When you're comparing, make sure to look at spreads, deposit and withdrawal charges, and even inactivity fees. Some platforms look cheap on the surface but sting you in other ways. Always compare the full cost of a trade, not just the headline rate. "
CoinSpot supports a number of Australian deposit methods for fiat currency. There is a range of free, instant online transfer options available – notably POLi and PayID. A unique deposit method on offer is physical cash deposits, where customers can add money to their CoinSpot account via supported newsagents across the country.
Coinbase also supports AUD bank deposits and withdrawals via PayID as well as card payments.
Winner: CoinSpot
CoinSpot is the winner for Australian customers, largely because it is locally-based and has better AUD support.
CoinSpot's fees are also a bit more competitive than Coinbase's, although when you factor in spreads the 2 aren't worlds apart on value.
Coinbase's limitations for Australian customers do not reflect on the overall quality of the platform. Global residents will likely find the exchange to be more than adequate for the majority of their crypto needs.
It's worth remembering that there's no such thing as a "best" exchange – only exchanges that are "best" for you. The platform you end up choosing will reflect your specific circumstances and you may even end up using features from both.
Mia is a beginner crypto investor from Melbourne who wants to buy some Bitcoin — but she’s also curious about smaller coins like Dogecoin. She plans to invest using AUD and is looking for the most cost-effective option.
Comparing the two, she sees that Coinbase has lower trading fees on paper, but adds a foreign exchange fee to convert her AUD into USD, plus spreads that vary by coin. CoinSpot charges a flat 1% fee and supports direct AUD deposits with no conversion needed.
In the end, Mia chooses CoinSpot. It’s not just easier to use as an Australian — it also lets her explore a wider range of altcoins without paying extra in hidden FX fees.
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.
Frequently Asked Questions
Yes, Coinbase is a popular and reputable exchange in Australia, offering a wide range of cryptocurrencies and a user-friendly platform. However, some users may find that fees are higher compared to other local exchanges like CoinSpot.
The best crypto exchange in Australia can vary based on individual needs, but CoinSpot is often recommended for its ease of use, low fees and extensive range of supported cryptocurrencies.
In Australia, exchanges like CoinSpot or Binance may be preferred over Coinbase due to lower fees and broader support for local payment methods. Each exchange has its own strengths depending on user preferences.
Yes, Australians can open an account with Coinbase. It's fairly straightforward to create an account, but you'll need to verify your identity before you can start trading.
Yes, Coinbase Wallet is legal to use in Australia. You can use Coinbase Wallet to store Bitcoin, Ethereum, ERC-20 tokens and EVM networks like Solana and Avalanche.
Yes, you can withdraw money from Coinbase straight to your Australian bank account. There are no additional fees when withdrawing money to your bank account from Coinbase.
Ben Knight was a contributing cryptocurrency writer for Finder. Having written for Alternative Assets, PianoDreamers and YeahAustralia in the past, his passion for language and creativity with words drives his work. Ben has a master’s degree in writing, editing and publishing, and a bachelor’s degree in creative writing. See full bio
We take a look at the pros and cons of using Coinbase Australia’s trading platform and app.
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