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CoinSpot Review

Last Updated on February 15, 2024

James Headshot
Written by
Adam Headshot
Edited by
CoinSpot logo
4.37
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit CoinSpot

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

CoinSpot shines as a great choice among Australian crypto exchanges, catering to investors of all stripes with its secure platform, diverse deposit options, and an intuitive trading interface. Its commitment to customer service excellence and stringent security measures make it an attractive option for anyone venturing into crypto.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

AUSTRAC Registered This exchange is registered with AUSTRAC. Digital currency exchange providers in Australia are required to be registered with AUSTRAC. This ensures they must comply with relevant AML and CTF laws or risk facing heavy penalties. You can read more about this on AUSTRAC's website. This registration should not be viewed as an official endorsement or guarantee of services.

Pros

  • Wide selection of cryptocurrencies
  • User-friendly interface
  • Has an NFT marketplace
  • Quick verification process
  • Australian-based with local customer support

Cons

  • Higher fees compared to competitors
  • Limited advanced trading features
  • Fiat deposits can be slow

Quick Summary

Headquarters Location Melbourne, Australia
Fiat Currencies Supported AUD
Total Supported Cryptocurrencies 402+
Trading Fees 0.10% - 1%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, PayID, BPAY
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

CoinSpot is a great crypto exchange, offering a secure and comprehensive platform for the buying, selling, and trading a vast array of coins.

CoinSpot homepage

CoinSpot has emerged as a significant figure in the digital currency landscape in Australia.

By promoting an ecosystem where crypto and traditional financial sector mechanisms coalesce, CoinSpot endeavours to pioneer a synergy that caters to both seasoned traders and those new to crypto investment. The platform aims to serve as a cornerstone of the Australian digital economy, enabling instant transactions across a variety of digital assets, with a strategic focus on inclusivity and continuous enhancement of user experience.

About CoinSpot

CoinSpot has quickly become a go-to for both beginners and experienced traders, thanks to its easy-to-use platform. It’s kept pace with the crypto market’s ups and downs, particularly with favorites like Bitcoin and Ethereum.

As an Australian exchange, CoinSpot has stayed on top of the industry’s fast changes, meeting Australia’s strict licensing requirements and helping shape how Australians see and use crypto.

CoinSpot features

CoinSpot has a number of active social profiles including Facebook, Twitter, Instagram, Reddit and TikTok.

CoinSpot has a mobile app on both the Apple App Store and Google Play.

CoinSpot Supported Cryptocurrencies

CoinSpot supports trading on over 402 cryptocurrencies on their platform. This exchange currently supports 28 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Avalanche (AVAX)
  • Dogecoin (DOGE)
  • TRON (TRX)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Uniswap (UNI)
  • Internet Computer (ICP)
  • Shiba Inu (SHIB)
  • Dai (DAI)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Immutable (IMX)
  • Filecoin (FIL)
  • Cosmos (ATOM)
  • Ethereum Classic (ETC)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Kaspa (KAS)
  • Optimism (OP)
  • Stacks (STX)

View all cryptocurrencies CoinSpot supports

  • 1INCH
  • AAVE
  • ACA
  • ACH
  • ACM
  • ADA
  • ADX
  • AE
  • AERGO
  • AGIX
  • AGLD
  • AGS
  • AKRO
  • ALCX
  • ALGO
  • ALICE
  • ALPCA
  • ALPHA
  • ALPINE
  • AMB
  • AMP
  • ANKR
  • ANT
  • APE
  • API3
  • APT
  • AR
  • ARB
  • ARDR
  • ARK
  • ARKM
  • ARPA
  • AST
  • ASTR
  • ATM
  • ATOM
  • AUCT
  • AUDIO
  • AURORA
  • AUS
  • AVA
  • AVAX
  • AXL
  • AXS
  • AZERO
  • BAL
  • BAND
  • BAR
  • BAT
  • BCAU
  • BCH
  • BDGR
  • BEL
  • BETA
  • BICO
  • BLUR
  • BLZ
  • BNB
  • BNT
  • BNX
  • BOND
  • BONE
  • BRISE
  • BSV
  • BSW
  • BTC
  • BTCST
  • BTG
  • BTS
  • BTTC
  • BURGR
  • C98
  • CAKE
  • CELO
  • CELR
  • CHR
  • CHZ
  • CITY
  • CKB
  • CLV
  • COMBO
  • COMP
  • COS
  • COTI
  • CRO
  • CRV
  • CSPR
  • CTK
  • CTSI
  • CTXC
  • CVC
  • CVX
  • CYBER
  • DAG
  • DAR
  • DASH
  • DATA
  • DCR
  • DEGO
  • DENT
  • DEXE
  • DFI
  • DGB
  • DIA
  • DNT
  • DOCK
  • DODO
  • DOGE
  • DOT
  • DREP
  • DRGN
  • DUSK
  • DYDX
  • EDU
  • EGLD
  • ELA
  • ELF
  • EMC2
  • ENJ
  • ENS
  • EOS
  • EPX
  • ETC
  • ETH
  • ETN
  • EWT
  • FARM
  • FET
  • FIDA
  • FIL
  • FIO
  • FIS
  • FLM
  • FLOKI
  • FLOW
  • FLR
  • FLUX
  • FOR
  • FORTH
  • FRONT
  • FTM
  • FTT
  • FUN
  • FXS
  • GAL
  • GALA
  • GAME
  • GAS
  • GBYTE
  • GFT
  • GHST
  • GLM
  • GLMR
  • GMT
  • GMX
  • GNO
  • GNS
  • GRS
  • GRT
  • GTC
  • HARD
  • HBAR
  • HERO
  • HFT
  • HIFI
  • HIGH
  • HIVE
  • HNT
  • HOOK
  • HOT
  • HTR
  • ICP
  • ICX
  • ID
  • IDEX
  • ILV
  • IMX
  • INJ
  • IOST
  • IOTX
  • IRIS
  • JASMY
  • JOE
  • JST
  • JUV
  • KAI
  • KAS
  • KAVA
  • KDA
  • KEY
  • KIN
  • KLAY
  • KMD
  • KNC
  • KP3R
  • KSM
  • LAZIO
  • LBC
  • LDO
  • LEVER
  • LINA
  • LINK
  • LIT
  • LOOM
  • LPT
  • LQTY
  • LRC
  • LSK
  • LTC
  • LTO
  • LUNA2
  • LUNC
  • LYX
  • MAGIC
  • MAID
  • MANA
  • MASK
  • MATIC
  • MAV
  • MBL
  • MBOX
  • MC
  • MDT
  • MDX
  • MINA
  • MIOTA
  • MIR
  • MITH
  • MKR
  • MLN
  • MOVR
  • MTL
  • NANO
  • NEAR
  • NEO
  • NEXO
  • NIM
  • NKN
  • NMR
  • NULS
  • NXRA
  • NXT
  • OAX
  • OCEAN
  • OG
  • OGN
  • OM
  • OMG
  • ONE
  • ONG
  • ONT
  • OOKI
  • OP
  • ORN
  • OSMO
  • OXT
  • PAY
  • PENDLE
  • PEPE
  • PERL
  • PERP
  • PHA
  • PIVX
  • PLA
  • PNT
  • POLK
  • POLS
  • POLYX
  • POND
  • POWR
  • PPC
  • PROM
  • PSG
  • PUNDIX
  • PYR
  • QI
  • QKC
  • QNT
  • QTUM
  • QUICK
  • RAD
  • RARE
  • RAY
  • RDNT
  • REEF
  • REI
  • REN
  • REP
  • REQ
  • REV
  • RFOX
  • RIF
  • RLC
  • RNDR
  • ROSE
  • RPL
  • RSR
  • RUNE
  • RVN
  • SAND
  • SC
  • SCRT
  • SEI
  • SFP
  • SGB
  • SHIB
  • SHR
  • SKL
  • SLP
  • SNT
  • SNX
  • SOL
  • SOLO
  • SOLVE
  • SOUL
  • SPELL
  • SRM
  • SRN
  • SSV
  • STEEM
  • STG
  • STMX
  • STORJ
  • STPT
  • STRAX
  • STX
  • SUI
  • SUN
  • SUPER
  • SUSHI
  • SXP
  • SYS
  • T
  • TEL
  • TFUEL
  • THETA
  • TKO
  • TLM
  • TOMO
  • TON
  • TRB
  • TRIAS
  • TRIBE
  • TROY
  • TRU
  • TRX
  • TVK
  • TWT
  • UBT
  • UFO
  • UMA
  • UNFI
  • UNI
  • UOS
  • USDC
  • USDT
  • USTC
  • UTK
  • VET
  • VGX
  • VIA
  • VIB
  • VIDT
  • VITE
  • VOXEL
  • VRA
  • VTC
  • VTHO
  • VXV
  • WACME
  • WAN
  • WAVES
  • WAXP
  • WBTC
  • WILD
  • WIN
  • WING
  • WINGS
  • WLD
  • WNXM
  • WOO
  • WRX
  • WTC
  • XCN
  • XDC
  • XEM
  • XLM
  • XNO
  • XPR
  • XRP
  • XTZ
  • XVG
  • XVS
  • XYM
  • XYO
  • YFI
  • YFII
  • YGG
  • ZEC
  • ZEN
  • ZIL
  • ZRX

Trading Experience

CoinSpot is all about blending efficiency with a user-friendly interface for trading. It’s packed with advanced features designed for both newbies and pros, making it easy to shift from basic purchases to intricate trading moves within a welcoming space.

The platform continuously evolves, adding intuitive and sophisticated tools to meet every trader’s needs, whether you’re just getting your feet wet in crypto or devising complex investment strategies.

With features like detailed order types and real-time market updates, CoinSpot ensures traders have all they need to make well-informed decisions quickly. Plus, the addition of a multi-currency wallet and a handy trading terminal makes portfolio management a breeze, allowing for real-time adjustments.

CoinSpot exchange marketing

CoinSpot Fees

CoinSpot’s fee structure is designed to be transparent and competitive, ensuring that users know the costs associated with their transactions. Instead of specific numbers, the framework outlines a tiered system where various activities such as trades, deposits, and withdrawals incur different levels of fees, with the aim of keeping costs manageable for traders.

While maintaining a focus on affordability, CoinSpot has engineered its fee model around the premise that transparency is key to trust in the crypto sector.

The exchange’s approach to transaction fee schedules accommodates a wide range of investment strategies, from active traders engaging in daily transactions to investors employing longer-term holding tactics. This commitment to clarity in trading fees demystifies the cost of trading crypto, empowering users to make more informed financial decisions.

Type Fee
Deposit Fee (Bank Transfer - PayID) 0%
Deposit Fee (Credit/Debit Card) 2.58%
Trading Fee 0.10% - 1%
Withdrawal Fee (Bank Transfer) 0%

CoinSpot supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.000079 BTC compared to the industry average of 0.000075 BTC. So CoinSpot has a fee that is above the industry average by 5.33%.

Security - Is CoinSpot Safe?

Security is a cornerstone of CoinSpot’s operations, underscored by its adherence to robust security measures and compliance with Blockchain Australia’s code of conduct. The platform employs a layered approach to protect user funds, integrating features such as two-factor authentication and wallet encryption.

Regular external audits punctuate its commitment to maintaining a secure environment.

CoinSpot’s security infrastructure is meticulously crafted to provide an extra layer of protection, safeguarding the digital wealth of its clientele. By incorporating bank-level security protocols, the exchange signals its dedication to preserving the integrity of user funds and investments.

CoinSpot Customer Support

The commitment to serving users extends to CoinSpot’s customer support, with a 24/7 Support Team ready to assist with any inquiries. The exchange prides itself on maintaining open lines of communication via email and an internal support link, ensuring that users’ needs and concerns are addressed promptly and effectively.

Customer support remains an integral component of CoinSpot’s user-centric ethos. By maintaining a 24/7 Support Team, the exchange demonstrates its commitment to providing timely assistance and building trust with its user community.

The team is equipped to respond to various inquiries, ranging from troubleshooting issues with a trade crypto transaction to navigating the verification process. With an efficient system to handle queries via email or through a direct, auto-generated link, CoinSpot ensures that assistance is readily accessible, fostering a supportive environment for all users.

CoinSpot support

CoinSpot Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on CoinSpot

  1. Create Account - Visit the CoinSpot website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Osko
  • PayID
  • Paypal
  • Apple Pay
  • Google Pay
  • BPAY

CoinSpot Alternatives

Swyftx logo

Swyftx

4.80
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
327+

Trading Fees
0.35% - 0.60%

Fiat Currencies Supported
USD, AUD, NZD

Visit Swyftx
Binance logo

Binance

3.27
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

Visit Binance
Bybit logo

Bybit

3.50
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
341+

Trading Fees
0.04% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 160 others

Visit Bybit

Final Thoughts

Reflecting on the myriad aspects of CoinSpot, one can appreciate the exchange’s efforts to balance accessibility with depth in services. Its comprehensive offerings cater to a diverse crowd, from those taking their first steps in crypto to the more demanding requirements of more professional traders and investors.

If you’re wondering how CoinSpot fares against competitors in the crypto world, our articles provide detailed comparisons for Binance vs CoinSpot, Coinbase vs CoinSpot, CoinJar vs CoinSpot, CoinSpot vs BTC Markets, Digital Surge vs CoinSpot, and Swyftx vs CoinSpot.

CoinSpot FAQs

Trustworthiness can be subjectively assessed by individual users, but CoinSpot is a well-known cryptocurrency exchange in Australia and has been operating since 2013. It has built a reputation over time and is generally considered reputable within the Australian crypto community.

CoinSpot also complies with Australian laws and regulations which adds a layer of trust for Australian users.

CoinSpot takes security seriously and has various measures in place to protect users’ funds. While no major publicized hacking incident has been reported against CoinSpot, it’s important for users to continuously monitor their accounts and use all the security features the platform provides to protect their investments.

Yes, CoinSpot is legal in Australia. It operates as a registered cryptocurrency exchange and complies with Australian laws, including those related to financial services and anti-money laundering (AML) regulations.

Avoiding fees entirely may not be possible as most exchanges charge for various services. However, CoinSpot offers different transaction methods, some of which have lower fees than others.

For instance, using Market Orders often incurs lower fees compared to Instant Buy/Sell. Additionally, depositing funds through certain means such as POLi, PayID or direct deposits may attract less or no fees, compared to other methods.

The minimum withdrawal amount from CoinSpot can vary depending on the cryptocurrency. For Australian dollars (AUD), the minimum withdrawal is typically set to a value that may change over time, so users should check the current terms on the CoinSpot platform.

CoinSpot charges withdrawal fees for transferring cryptocurrencies to external wallets, which vary depending on the blockchain network of the specific cryptocurrency. For withdrawing Australian dollars to a bank account, CoinSpot offers this service for free.

CoinSpot provides various order types for trading, but users should confirm directly on the platform whether stop loss orders are currently supported, as available trading features may be updated or changed.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: