In the market section, fees for Bitcoin with other pairs are charged at 0.1% per transaction but you will need to check what kind of pairs are available as not all pairs might be set up the way you want them too. CoinSpot has some fee-free deposit methods, which are POLi, PayID, and Direct Deposit . If you coinspot reviews want to use BPAY, you need to pay 0.9% for that privilege, and depositing cash at a newsagent will cost 2.5%. CoinSpot allows staking on 21 coins, and they are regularly adding more to their platform. This is a way that you can earn interest on your crypto while you hold it in your CoinSpot account.
It is a e-wallet system that processes payments within a day- which is pretty good considering industry standards. CoinSpot will charge you a standard transaction fee when you send coins to external wallets. The fee will be different per coin as the fee is dependent on the particular blockchain. Swap existing cryptocurrency with over 200 available cryptocurrencies on CoinSpot. You can use this option without KYC and swap currencies without giving any identity information. You can click any coin market to access the current prices and other data points.
This is a multi-asset wallet that can store over 300 different cryptocurrencies. Additionally, this wallet also gives you the ability to transfer cryptocurrencies to and from other third-party wallets such as Metamask. On the other hand, if traders choose to use the platform’s OTC feature, then the fee that they are charged on this trade is just 0.1%. In addition to these cryptocurrencies, the CoinSpot app also accepts a variety of other DeFi tokens and coins including the AAVE token, the Uniswap token, and the COMPOUND token. For example, suppose you wish to invest a fixed % of your paycheck into Bitcoin every month. With CoinSpot’s new recurring investment feature, you can do so automatically, by selecting a fixed investment amount and setting the frequency to monthly.
Of course, this isn’t of much use to crypto beginners, but more experienced users will definitely have much use of these tools. In the right section of the screen is your order interface, where you can set your own prices and execute market orders. When it comes to finding the top cryptocurrency exchange and the best cryptocurrency exchange rates, you must do your research.
In a nutshell, we are a crypto guide with the right ambitions and values. Trading Browser is a global crypto guide for all traders and investors and our focus is always to deliver high-quality content for you, our readers. Some of our platform recommendations might be our partners and we may earn money through our links on our website but this does not change our opinions as all our recommendations are our own.
Although the platform accepts real-world fiat deposits, this is only available to those based in Australia. If you’re a non-Australian resident, then you’ll be forced to fund your Bitcoin account. This trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card.
The affiliate program is another way you can earn passive income from CoinSpot. This way, users have an incentive to act as affiliate marketers for CoinSpot because they’ll get handsomely rewarded from the new user’s commission fees. When the ETH was delivered to my account, I tried the swap feature and exchanged some ETH for BTC.
From this review, it is safe to say that Coinspot is one of the best exchanges out there on the cryptocurrency market. This Coinspot review will go through the basic information of the cryptocurrency exchange. They are a cryptocurrency exchange that places an emphasis on users to buy and sell a variety of cryptocurrency coins and was first opened and founded back in 2013 with an original focus on buying and selling Bitcoin. Beyond the basics, the exchange also offers access to cryptocurrency swaps, a trading platform, a multi-coin wallet to store funds and an NFT marketplace. CoinSpot has also implemented an in-built earning feature where you can stake your crypto in its multi-coin wallet to earn returns.
The Swap Cryptocurrency Option
If you see the cryptocurrency that you want to deposit with, click on the “OPEN WALLET” button. If not, click on “SEE ALL WALLETS” to see the complete list of supported coins. As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase. Coinspot is also involved in the OTC (over-the-counter) space. This means that they can facilitate direct cryptocurrency trades for institutional investors. However, if you’re only trading small amounts, you won’t be able to use this facility.
Be warned, their spread is huge and honestly i don’t understand how they can get away with it. There are other newer Australian exchanges out that have far better spread. We recommend researching a wide range of sources before using these services. Sign up to hear about the latest updates, market trends, and special offers. To achieve this standard as mandated by the International Organisation for Standardisation, CoinSpot was required to complete an external audit undertaken by SCI Qual International (an accredited JAS-ANZ certification body).
CoinSpot supports all the major cryptocurrencies, as you would expect it to, but with its range of over 360+ different coins, it has some options that you may not find on smaller exchanges. One thing most users will love is the ease of buying and selling. The hotkeys in the dashboard allow you to buy and sell quickly, with the current live price next to it. You can also scroll down to check your portfolio of coins to easily track how your personal investments are trending. CoinSpot offers more than 360+ cryptocurrencies, crypto interest on 21 coins, and a user-friendly interface with 24/7 live chat support. At Marketplace Fairness, we have also managed to secure a special offer of $20 FREE Bitcoin if you sign up with this link.
It is the only cryptocurrency exchange in Australia that has accreditation for its security system. CoinSpot is an Australian cryptocurrency exchange established in 2013 by Russell Wilson, a well-known personality who had acquired major https://forex-reviews.org/ experience in building online security programs. Furthermore, another great aspect that Coinspot provides is their customer help and customer support team that helps to ensure a trader’s experience in Coinspot is always flawless.
CoinSpot charges a trading fee of 0.1% for market orders in BTC, XRP, LTC, etc. (i.e. top cryptocurrencies only). For Instant buy, there is an exchanged based 1% fee and for OTC trades 0.1% fee. Here’s our guide about the best crypto exchanges to buy and sell Bitcoin in Canada.
After developing a keen interest in traditional financial investing, James transitioned across to the cryptocurrency markets in 2018. Writing for cryptocurrency exchanges, he has documented some of the key blockchain technological advancements. James has a Masters of Science from the University of Leeds and when he isn’t writing, you will either find him down at the beach, reading or at the nearest live music event.
CoinLoanStreamline your crypto assets management
You save a lot in terms of commissions when buying and selling. We’ll continue to work hard and improve our platform to ensure our customers have the best experience possible. I was surprised at how quickly I got the hang of how CoinSpot functions. It’s easy to see what’s going on with my coins and their values and easy to deposit money and buy crypto with it. Love the ability to buy packages of coins based on groupings like top 10 crypto at one time rather than multiple transactions. We’re pleased to hear that you find our platform easy to use and have had such a good experience with our support team.
For starters, it means that users can very easily deposit and withdraw funds from their accounts in their local currency. It also has the added advantage of ensuring that the exchange is regulated and reliable. However, such local exchanges are far and few between, and it is usually difficult to find such exchanges. It’s worth noting that when sending digital currency to an external wallet, a standard bank transfer fee will be applied. When taking into account the lack of security features (such as multi-sig or cold storage of customer funds), we cannot say it is fully unsafe.
- CoinSpot unites multiple essential crypto services that make it a one-stop-shop for beginners and average crypto traders.
- If you are an advanced trader, CoinSpot lacks some of the more advanced tooling and features you would find on the likes of Binance such as futures trading and so on.
- Cointree review — strongly not recommended, since the prices there are worse than other places whether you’re buying or selling.
- When you contact the OTC desk on CoinSpot you will be assigned a personal account manager that will give you a quote at a fixed rate.
- Once you’re officially registered and verified with CoinSpot, you can start buying and selling!
However, it is imperative that users take on the responsibility of keeping their login details and passwords entirely to themselves and never store them online or even written down on your computer. The first bit of peace of mind you can get from CoinSpot is that they have been around since early 2013. This alone gives them credibility as well as their in-tact reputation, activity on social media and the presence of founder Russell Wilson. Blueshyft keeps things old school by providing an avenue for you to directly deposit cold hard cash for your online needs-in this case CoinSpot. Blueshyft has over 1,200 branches all over Australia at selected news-agencies .
Step 3: Deposit Funds on CoinSpot
Crypto is easy to search and purchase with a bit of info on each. If your issue remains unresolved or you have any outstanding questions, yourself or the account holder are more than welcome to reach out to our team directly. If you could provide us with any further questions or information we would be happy to assist you accordingly.
With CoinSpot, the first exchange in Australia to offer over 200 different crypto coins to buy, sell, and trade, users no longer have to worry about something going wrong within their multiple transactions. Additionally, Coinspot places a two factor authentication security feature on their user accounts. Another big factor when crypto users are selecting an exchange would be how safe and secure an exchange is. Bitcoin and other cryptocurrency scams are becoming a more common occurrence around the globe and no one wants to be the next victim of a crypto scam. For withdrawals of funds from Coinspot into your bank account would take about 1 business day depending on the time the submission is sent. If you apply for a withdrawal before 2PM it will arrive the next day, if not, it will be processed on the following day.
Users can stake a wide variety of popular cryptos and earn high annual percentage yields on their initial deposits. This feature is a great way to maximise your crypto profitability by making your stored coins grow over time. Once I chose ETH in the instant trading menu, I was taken to a screen where I could choose whether I wanted to buy, sell, or swap coins. The purchase took around 5 minutes, which is the average processing period for the ETH blockchain.