In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.
CoinSpot
4.0
★★★★★
Finder score
4.3
★★★★★
Regulator registration
AUSTRAC
Supported assets
444
Fiat currencies
1
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

Our verdict

Easily buy and sell a wide range of cryptocurrencies, with fees as low as 0.1%.

Gold Finder Awards Badge
Finder Awards 2023 winner

CoinSpot is one of Australia's largest and oldest cryptocurrency exchanges with over 350 coins available. Since launching in 2013, the exchange has gathered over 2.5 million registered users.

CoinSpot is a solid choice for beginners. The user interface is clean and easy to navigate, and high-quality educational material is available for most supported coins.

The platform offers useful features like recurring buys, a crypto spending card, SMSF support and an NFT hub.

AUD can be deposited for free using bank transfer, PayID or POLi. Physical cash, card and BPAY deposits include a fee.

Customer support can be reached through a support ticket or 24/7 live chat.

Pros

  • Local customer support. CoinSpot's customer support team is based in Melbourne and available 24/7. We received a response time of under 1 minute when using the live chat.
  • Transparency. CoinSpot was the first Australian Cryptocurrency Exchange to complete an External Statutory Financial Audit, conducted by an independent auditor in accordance with Australian Auditing Standards.
  • Complies with the Australian Transaction Reports and Analysis Centre regulations in Australia. AUSTRAC is the peak body for regulating cryptocurrency exchanges in Australia which requires CoinSpot to comply with laws and regulations that are intended to provide certain protections for users.
  • Over 409 cryptocurrencies supported. CoinSpot supports 409+ assets, which should give you a good range of industries and asset types to invest in without needing to hop between multiple exchanges.

Cons

  • Limited NFTs. CoinSpot's NFT marketplace is limited to about 50 collections of popular artworks, making it much smaller than dedicated NFT marketplaces.

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Product Name CoinSpot
Fiat Currencies AUD
Cryptocurrencies BTC, ETH, BNB, SOL, DOGE, ADA, AVAX, TON, SHIB, BCH & 434 more
Deposit Methods Bank transfer
BPAY
Cash
Credit card
Cryptocurrency
Debit card
PayID
Trading Fee 1%
Deposit Fees Bank transfer, POLi, PayID: None
BPAY: 0.9%
Cash: 2.5%
Card: 2.58%
Withdrawal Fees AUD withdrawals: $0

Ratings breakdown: How we scored CoinSpot

Supported cryptocurrencies ★★★★★
Transferring money or assets ★★★★★
Fees and costs ★★★★★
Ease of use ★★★★★
Customer service ★★★★★
Features ★★★★★
Trustworthiness/security ★★★★★

How we rate our crypto exchanges and platforms

Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology for more information.

Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.

About CoinSpot

CoinSpot is an Australian exchange based in Melbourne. It was founded in 2013 and is a member of Blockchain Australia, which is an industry body that helps design and implement best practices in Australia.

CoinSpot was the first Australian cryptocurrency exchange to complete an External Statutory Financial Audit, conducted by an independent auditor in accordance with Australian Auditing Standards. It is a voluntary member of the Australian Financial Complaints Authority (AFCA).

CoinSpot supported assets

CoinSpot supports over 443 cryptocurrencies. In total, CoinSpot carries 19 of the top 20 cryptos by market cap.

Popular assets on CoinSpot
supports
Bitcoin (BTC)
supports
Ethereum (ETH)
supports
Tether (USDT)
supports
BNB (BNB)
supports
Solana (SOL)
supports
XRP (XRP)
supports
USDC (USDC)
does not support
Lido Staked Ether (STETH)
supports
Dogecoin (DOGE)
supports
Toncoin (TON)
supports
Cardano (ADA)
supports
Avalanche (AVAX)
supports
Shiba Inu (SHIB)
supports
Bitcoin Cash (BCH)
supports
Polkadot (DOT)
supports
Wrapped Bitcoin (WBTC)
supports
TRON (TRX)
supports
Chainlink (LINK)
supports
Polygon (MATIC)
supports
Litecoin (LTC)

CoinSpot fees review

Deposit and withdrawal fees

Transaction type Fee
Deposit funds Bank transfer, POLi, PayID: None
BPAY: 0.9%
Cash: 2.5%
Card: 2.58%
Withdraw funds AUD withdrawals: $0

CoinSpot uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.

Type Fee
Maker 1%
Taker 1%

Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.

Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.

CoinSpot deposit methods

  • Bank transfer
  • BPAY
  • Cash
  • Credit card
  • Cryptocurrency
  • Debit card
  • PayID

How to sign up on CoinSpot

Before you can get started trading on CoinSpot, you'll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).

  1. Get started
    Visit CoinSpot's site. After selecting the Get Started button, fill in the create account form.
  2. Set up payment
    Before you can start trading, you have to add your bank account to your CoinSpot account. There are several options to choose from, so choose the option most compatible.
  3. Provide identification
    Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this.
  4. Start trading
    After all that is processed, you're ready to trade on CoinSpot.

About the CoinSpot app

The CoinSpot app gives you all of the core features of the desktop exchange. You can easily buy, sell and swap crypto, manage your portfolio and top up your account. You can set price alerts to help stay up to date with the market.

If you have a CoinSpot card you can easily top up funds, link it to your Apple or Google pay or disable it.

There is a dark mode available.

Three screenshots of the CoinSpot app

App store Rating Total reviews
Google Play 4.0 stars 8.3k reviews with 500k downloads
Apple Store 4.8 stars 17.5k reviews

Is CoinSpot safe?

CoinSpot is registered with Australian regulatory body AUSTRAC and is a member of Blockchain Australia, an organisation that focuses on the safe adoption of blockchain technology.

Past hacks. No hacks of CoinSpot have ever taken place.

Security audits. CoinSpot was the first Australian exchange to receive ISO 27001 certification in 2020. To obtain this certification, the exchange was audited by SCI Qual International (an accredited JAS-ANZ certification body). The platform has been audited by multiple entities throughout its history, and its data centre has obtained an ISO 27018 certificate. This audit track record sets them apart from other Australian exchanges.

The majority of assets held with the exchange are stored offline in cold storage and the platform advises users to activate security features such as 2-factor authentication for added protection.

Insurance. CoinSpot does not offer insurance for either fiat or cryptocurrency funds held on the exchange.

Financial audit. CoinSpot was the first Australian cryptocurrency exchange to complete an External Statutory Financial Audit, conducted by an independent auditor in accordance with Australian Auditing Standards.

Keeping your crypto secure

All centralised exchanges, including CoinSpot, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

9,000+

Price (USD)

$149

Price (USD)

$179

CoinSpot customer support

Live Chat Support is available 24/7. When we tested this it took less than a minute to be put in touch with a human customer service agent.

You can also lodge a ticket through their support system or browse FAQ articles.

How to reach CoinSpot customer support

  • Live chat
  • Support ticket

Alternatives to CoinSpot

1 - 3 of 26
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Kraken
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID, Apple Pay, Google Pay, SWIFT

7

235

Capital at risk

View details
Finder AwardExclusive
EXCLUSIVE
CoinSpot
Bank transfer, BPAY, Cash, Credit card, Cryptocurrency, Debit card, PayID

1

444

Get $20 in BTC when you make a deposit. T&Cs apply.

Capital at risk

View details
Exclusive
EXCLUSIVE
Swyftx
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID

3

352

Get $20 in BTC when you verify your account. T&Cs apply.

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
loading

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.

Ask a question

Ask a question
Avatar

James Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

Michelle

September 05, 2019

Can you lose more money than you have in your account? End up oweing more than you have?


Avatar

Nikki Angco

September 06, 2019

Hi Michelle,


Thanks for getting your message. When using Coinspot, it would be a good idea to check the fees and limits such as deposit, withdrawal, and transaction fees of this account before you trade to see how much you’re paying.


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. 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.


Hope this helps!


Best,

Nikki


Show more Show less
Avatar

Ewen

December 15, 2018

My coins are in Coinspot wallet. I looked at “compare wallets.” These wallets do not support ADA. Is it better to just leave ADA in Coinspot wallet?


Avatar

Joshua Finder

December 20, 2018

Hi Ewen,


Thanks for getting in touch with Finder. I hope all is well with you. :)


It would depend on your current and future needs whether you would leave your ADA in Coinspot wallet or not. However, if you are looking for wallets that handle Cardano (ADA), you may refer to our comparison table where you can compare your options based on deposit methods, fiat currencies, and supported cryptocurrencies. Click on the “Go to site” green button of your choice to learn more.


I hope this helps.


Joshua


Show more Show less
Avatar

Paul

December 03, 2018

I see there is a $100,000 limit per transaction for XRP. Is there a limit to the amount of transactions per day? i.e. could I make multiple $100,000 transactions in a 24 hour period?


Avatar

Jeni Finder

December 09, 2018

Hi Paul,


Thank you for getting in touch with finder.


Limits are per 24 hours. For large transactions it will go through a verification process where a verification officer will review your answers and approve your submission.


I hope this helps.


Please feel free to reach out to us if you have any other enquiries.


Thank you and have a wonderful day!


Cheers,

Jeni


Show more Show less
Avatar

Jennifer

October 10, 2018

2FA verification is proving a problem. Google authenticator does not seem to working correctly. Is there any help online?


Avatar

Joel Marcelo

October 11, 2018

Hi Jennifer,


Thanks for leaving a question on finder.


Please check the phone settings and ensure it has time set accurate to the second or better yet that is synced with a time server. Follow these steps to re-sync:


iPhone:

https://support.apple.com/en-au/HT203483


Android:

https://android.gadgethacks.com/how-to/set-your-android-atomic-time-for-perfectly-synced-clock-0170500/


Google Authenticator lets you manage many separate 2FA tokens, please pay extra attention to make sure you are using the correct token. The tokens expire quickly so also make sure you are entering the token quickly so that it doesn’t expire. If you need further assistance, please submit a request directly to Coinspot.


Please send me a message if you need anything else. :)


Cheers,

Joel


Show more Show less
Avatar

Chris

August 05, 2018

Why is the fee to transfer my coins to a hardwallet so high compared to other transactions?


Avatar

Jeni Finder

August 15, 2018

Hi Chris,


Thank you for getting in touch with finder.


That is because hard wallet is a special type of bitcoin wallet which stores the user’s private keys in a secure hardware device. They have major advantages over standard software wallets: private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext. In addition, transaction fee is required because the fees go to the miners to incentivise them to keep mining, which in turn keeps the Bitcoin network secure.


I hope this helps.


Please feel free to reach out to us if you have any other enquiries.


Thank you and have a wonderful day!


Cheers,

Jeni


Show more Show less
Go to site