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Coinstash Review

Last Updated on July 9, 2024

James Headshot
Written by
Adam Headshot
Edited by
Coinstash logo
4.58
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 Coinstash

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

Coinstash is a reliable cryptocurrency exchange that offers an impressive selection of cryptocurrencies and a secure yet user-friendly trading experience.

In spite of some negative reviews about their customer support team, they continue to innovate in the space and are a great option for Australians.

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

  • User-friendly interface
  • Offers a variety of cryptocurrencies
  • Enhanced security features
  • Competitive trading fees
  • Supports multiple payment methods

Cons

  • Limited global availability
  • Potentially slow customer service response times
  • Limited educational resources for beginners

Quick Summary

Headquarters Location Brisbane, Australia
Fiat Currencies Supported AUD
Total Supported Cryptocurrencies 1775+
Trading Fees 0.85%
Deposit Methods Bank Transfer, Cryptocurrency, Osko, PayID
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

As one of the most reputable Australian crypto exchanges, Coinstash provides investors access to Australia’s largest range of digital currencies.

Coinstash homepage

Customers have praised the platform’s straightforward process for purchasing, selling, and cashing out crypto assets. Coinstash is recognised among Australia’s premier plaforms for exchanging digital currencies and handling crypto assets.

This achievement reflects the founders’ original vision and signifies their team’s dedication to maintaining a safe and effective exchange service for traders.

About Coinstash

In 2017, Ting Wang and Mena Theodorou founded Coinstash in the city of Brisbane, Australia. They set up this company, which operates under TWMT Pty Ltd. Since its origin, Coinstash has evolved into a prominent Australian crypto exchange that embodies the increasing role of Australia in the worldwide cryptocurrency market.

The mission behind establishing Coinstash was twofold: to serve as a conduit between traditional financial systems and the innovative capacities of crypto and blockchain technology and to grant access to individual investors for harnessing the opportunities presented by cryptocurrencies.

Coinstash features

Coinstash has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn and YouTube.

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

Coinstash Supported Cryptocurrencies

Coinstash carries an impressive array of tradable cryptocurrencies, offering its users the capability to engage in transactions with 1775+ crypto coins. This wide variety of digital currencies depends not only on the exchange’s risk appetite but, more so, on the users’.

Out of all the exchanges we’ve reviewed in Australia, Coinstash offers the most cryptocurrencies. If you are interested in trading various cryptocurrencies before they reach most centralised exchanges, this exchange is an excellent option. This is a major difference between Coinstash and the other larger Australian exchanges, as users would usually have to sign up for a separate exchange for lower market cap coins.

Trading Experience

Trading on Coinstash is an excellent experience; that platform is easy to use, and people love the user interface. The DeFi integration they have is excellent and unmatched in Australia providing access that previously wasn’t possible.

Coinstash also introduces Bundles, which are analogous to traditional ETFs but for cryptocurrencies. Such bundles allow for simplified and diversified investment strategies by combining selections of related coins under one theme.

Also, through automatic recurring purchases offered by Coinstash, users can steadily increase their holdings by continuously adding cryptocurrency investments at fixed intervals using predetermined amounts. Even new members can swiftly add funds directly into their accounts on this platform, enabling them to have various trading options.

The ease with which individuals can deposit funds and begin trading makes Coinstash exceptionally appealing for veteran traders and novices embarking on cryptocurrency markets.

Coinstash exchange marketing

Coinstash Fees

Coinstash has competitive trading fees and sits around the average for Australian crypto exchanges, they charge 0.85% on all transactions. Committed to transparency, the platform ensures that traders encounter no hidden or additional costs beyond this transaction fee. Compared to other exchanges their spread is much lower, providing you with a more seamless trading experience.

Users can deposit and withdraw AUD without incurring any fees on Coinstash, setting it apart from certain competitors who impose charges for these transactions. Users have praised Coinstash’s cost-effective fee strategy and its extensive selection of coins available for trading.

Type Fee
Deposit Fee (Bank Transfer - Osko, PayID) 0%
Trading Fee 0.85%
Withdrawal Fee (Bank Transfer) 0%

Coinstash supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0003 BTC. The average across all other exchanges that we've reviewed is 0.000401 BTC. This means Coinstash charges below the industry average by 25.24%.

Security - Is Coinstash Safe?

Coinstash safeguards its users’ information with security practices and adheres to Australian financial laws. By integrating Single Sign-On (SSO) protocols and implementing two-factor authentication (2FA) as part of their verification process, Coinstash fortifies account defense to reassure customers of the safety of their investments.

To amplify protection against unwarranted access to client assets, Coinstash collaborates with Fireblocks by adopting Multi-Party Computation (MPC) technology within its systems. This strategic partnership enhances platform security, guaranteeing that customer funds are securely held. Coinstash also assures their customers that they can withdraw at any time and that their funds are backed 1:1.

The crypto exchange solidifies the integrity of your Coinstash account through additional safeguards, including wallet address whitelisting and verification procedures for Australian Dollar deposits. With such comprehensive security features, customers can confidently engage in trading and investing activities via their Coinstash account.

Coinstash Customer Support

In general, Coinstash has received good online endorsements and personal accounts from users who attest to the quick and helpful assistance they receive. The platform has a friendly support team that consistently delivers exceptional service.

However, it must be noted that no crypto exchange platform is perfect. There are reports that some users have experienced slow transaction processes and less prompt engagement with their customer service representatives.

Regardless of occasional setbacks, there are clear indicators that reflect positively on Coinstash’s efforts to resolve customers’ verification issues promptly and provide follow-up communications, if necessary.

Below are some of the grievances experienced by their users.

  • Challenges in fund withdrawal
  • Unresponsive customer support team
  • Delays encountered during transaction processing
  • Complications with verifying users’ accounts

Should users need further assistance, Coinstash has support channels that their customers can use.

Coinstash support

Coinstash Support Channels

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

Coinstash Within the DeFi Space

It is crucial always to stay ahead of the latest developments in the crypto space. Coinstash has acknowledged this by integrating a product known as DeFi Connector, which facilitates entry into the decentralised finance (DeFi) sector. This tool grants users access to an extensive collection of DeFi coins and simplifies purchasing, selling, and trading processes.

Coinstash’s vision involves growing its services within Decentralised Finance and adhering closely to Australian financial regulations, which will enable the following:

  • The expenditure of cryptocurrency holdings by Australians
  • The accumulation of interest on those crypto assets for Australian citizens
  • The opportunity for Australians to obtain loans using their crypto holdings as collateral

Embracing change while incorporating user feedback regarding coin and token listings ensures Coinstash not only adapts but remains at the leading edge in today’s rapidly evolving cryptocurrency marketplace.

How to Sign Up on Coinstash

  1. Create Account - Visit the Coinstash 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

Coinstash Alternatives

Swyftx logo

Swyftx

4.73
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
379+

Trading Fees
0.10% - 0.60%

Fiat Currencies Supported
USD, AUD, NZD

Visit Swyftx
CoinSpot logo

CoinSpot

4.43
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
470+

Trading Fees
0.10% - 1.00%

Fiat Currencies Supported
AUD

Visit CoinSpot
Binance logo

Binance

3.23
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
392+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others

Visit Binance

Final Thoughts

Coinstash stands out as a secure and user-friendly cryptocurrency exchange platform offering a wide variety of cryptocurrencies, competitive fees, and friendly customer service. While the exchange has encountered some criticisms, it is highly praised for its intuitive user interface, security protocols, and unwavering commitment to client support.

Coinstash demonstrates its pledge to safeguard user information and assets through SSO encryption and 2FA integration, partnering with Fireblocks for security infrastructure enhancement, and implementing wallet address whitelisting strategies.

Despite some reported difficulties or challenges users occasionally face, Coinstash continues on its development path, aiming toward excellence while securing a top position among Australian cryptocurrency exchanges.

Coinstash FAQs

Coinstash is owned by its founders, Ting Wang and Mena Theodorou. It operates under TWMT Pty Ltd.

To complete verification on Coinstash, you must have valid IDs when you open an account (e.g., passport, driver’s license, etc.). Users can also verify their identity with the help of Coinstash’s customer service team by presenting their birth certificate or other forms of identification.

Yes, Coinstash has an app available for iOS and Android users.

Coinstash charges 0.85% trading fees.

To withdraw money from Coinstash, you must log into your account, select the withdrawal amount, and select your preferred withdrawal method.

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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: