CoinSpot is a reliable Australian exchange. It offers access to 103 digital coins and many deposit methods. CoinSpot is a top choice for crypto-to-crypto trading and crypto-to-AUD trading. We recommend it for traders at all levels.
- CoinSpot supports 103 cryptocurrencies, including Bitcoin, Litecoin, and Ripple.
- It lets Australian traders deposit with fiat currency.
- It offers a secure and simple-to-understand platform.
CoinSpot is a centralized cryptocurrency exchange. It has an impressive portfolio and lets users deposit funds with crypto. CoinSpot has a clean platform interface with access to useful trading tools. The downside is that only Australian residents receive access to fiat deposits and withdrawals.
The CoinSpot cryptocurrency exchange matches buyers and sellers. It charges an average trading fee. The CoinSpot platform is excellent for both day trading and long-term investments. This exchange offers OTC trading and direct deposit. We recommend it for traders at all levels as it’s easy to invest with it.
CoinSpot supports 103 cryptocurrencies. Besides Bitcoin and Litecoin, this exchange offers access to other popular coins:
Our CoinSpot review reveals it has a simple trading fee structure. The standard fee for buying/selling crypto is 0.1%. The Instant Buy service has a 1% trading fee. CoinSpot doesn’t have a deposit fee if you fund your account with bank account transfers. But only Australian residents receive access to this funding method. We recommend you read about the fee structure on CoinSpot’s main website.
Regulation & Reputation
CoinSpot doesn’t have a top-tier license from a regulatory body. It follows the anti-money laundering and Know Your Customer rules. Coinspot is a certified digital currency business. It offers standard safety measures, including:
- Two-factor authentication
- Customer verification when using fiat currency
- SSL encryption
CoinSpot offers immediate access to its platforms with a fast sign-up process. The trading platform is intuitive and user-friendly. Opening an account at CoinSpot exchange is simple. The steps you have to follow are:
- Access CoinSpot’s website and Click on Create a CoinSpot Account
- Enable two-factor authentication
- Deposit funds
- Start trading with your Coinspot account
CoinSpot has good customer service. It offers live chat and support tickets. Its customer support team is available from 9 am to 10 pm during the week, and 10 am-8 pm on weekends. CoinSpot doesn’t offer phone support.
CoinSpot is a popular Australian crypto exchange. It offers beginner-friendly services and a versatile portfolio. CoinSpot doesn’t have a top-tier license, but hasn’t reported any hacks. We recommend you research different exchanges before choosing one.
What Is A Centralized Exchange?
A centralized crypto exchange represents a private provider with access to platforms to invest in digital currencies. These exchanges require registration, known as the Know Your Customer rule.
What Is A Decentralized Exchange?
A decentralized exchange doesn’t have a central point of control. It works as a server and has each computer within the server spread out in different countries. If one device malfunctions, it doesn’t affect the network’s activity. Decentralized exchanges don’t have top-tier licenses. If you choose this type of exchange, you should understand the risks. Read our in-depth reviews to learn more about exchanges and safety.
Can You Short Bitcoin On CoinSpot?
No. CoinSpot doesn’t let its users short any digital assets.
Can You Leverage On CoinSpot?
No. CoinSpot doesn’t offer leverage on any of its crypto assets.
Does CoinSpot Have A Mobile App?
Yes, CoinSpot does have a Mobile App.
Does CoinSpot Have A Wallet?
The platform states it has a CoinSpot Multicoin Wallet. But this is only a web wallet, and you don’t have access to your private keys. We recommend you use your own wallets and storage solutions. Check our in-depth reviews to learn more about digital wallets and storage options.
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