The web’s most detailed CoinSpot review: This reputable and longest-lasting cryptocurrency exchange in Australia is the go-to platform for several thousands of beginner and experienced crypto investors. With some of the lowest fees on the Australian crypto market and the highest security cemented by the AUSTRAC regulation, this exchange stands out in so many ways. Read our full review to learn exactly what makes traders use CoinSpot.
In this section of our CoinSpot review we highlight 6 special features that deserves extra attention.
CoinSpot is a cryptocurrency exchange based in Australia that has all features you can think of when it comes to buying crypto, exchanging crypto, and storing crypto in a safe way. This beginner-friendly digital asset exchange for Aussies is the perfect platform for complete beginners as well as more seasoned cryptocurrency investors and traders.
The main office is located in Melbourne, Australia, and the operating company of CoinSpot is called Casey Block Services Pty Ltd. The team behind CoinSpot has a common goal of creating the best and easiest place for Australians to invest in bitcoin and other digital assets. The CoinSpot crypto app is the latest improvement to this power-house and together with the AUSTRAC government regulation, you can rest assured that your coins are in good hands when trading on CoinSpot.
Why use CoinSpot
CoinSpot is best suited for crypto investors and traders from Australia that are looking for a high-security, beginner-friendly, and well-established digital asset platform. This platform features over 300 altcoins that are readily available through the Swap feature and if your game is to invest in digital assets with fiat currencies you can do so with the AUD$ deposits through local payment methods such as PayID, B-pay, POLi, Osko, and Cash Deposits(instant).
The reason why CoinSpot has gained so much popularity is due to the fact that they give Australian crypto traders what they are looking for. An easy-to-use interface, advanced trading features, very high security, and last but definitely not least, low trading fees. Whenever you swap crypto with another CoinSpot user, you will only pay a 0.1% commission.
Trading on CoinSpot
CoinSpot has an excellent crypto Swap feature for Australian traders that lets you exchange between more than 300 digital assets including some very rare and cheap altcoins. CoinSpot charges a slim 0.1% commission for exchanging crypto-to-crypto on the platform which is at the lower bracket when compared to other similar platforms.
Technical traders can use the advanced charting software from Tradingview to establish a good overview of past price movements for all coins, simply head over to the Markets tab in the main menu and click View Market to apply technical indicators and drawing tools. Trade alerts can also be activated through the Account tab.
CoinSpot bundles is another great feature on the platform where you can invest in several digital assets at the same time. For example, if you are interested in buying all the DeFi projects listed on CoinSpot, simply go to the Bundles page, locate your Bundle, and click Buy. This will save you time and it also gives you new investment ideas.
CoinSpot OTC market offers wealthy Australian investors to make large investments in Bitcoin and other digital assets with a fixed price and no risk for slippage. 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. All your digital assets can be accessed instantly after settlement.
Payment methods and limits
CoinSpot offers local Australian payment methods such as POLi, Osko, B-pay, PayID, Bank Transfers, and Cash Deposits to make deposits in AUD$. The minimum deposit limit is AUD$ 1, the minimum withdrawal limit is AUD$ 1, and the maximum withdrawal limit depends on your level of verification.
Things we don’t like
The only pitfall we can see with CoinSpot is the lack of margin trading where traders are able to short-sell the market, which I know is very popular.
Other than that we consider CoinSpot to be an excellent Australian cryptocurrency exchange for traders and investors at all levels. The only problem we see with this platform is for everyone outside of Australia that can’t join. This is not a problem though for all Aussies, we just have to live with knowing that they get to trade on a better exchange than us.
About the special features on CoinSpot
The CoinSpot platform was one of the first exchanges to enter the Australian market back in 2013, the exchange has a lot of great tools to offer, here you can buy cryptocurrencies directly with AUD, you can also purchase multiple assets in one transaction with CoinSpot Bundles, this will make you save time and avoid paying multiple fees. CoinSpot offers you to lock in a price to eliminate slippage and minimize the risks that are normally associated with large volume trading.
When you have created your account for the first time and decided it is time to make your first purchase you head over to the buy&sell tab. There you will be able to access both normal charts and more advanced charts for the more experienced trader. CoinSpot also has a cool feature for those who are looking to find a coin that has been oversold recently, in the buy&sell section you will be also able to see which coins that has been performing the best versus the least the last 24 hours.
Advanced Crypto Trading Features
On the CoinSpot platform will you be able to utilize Stop-loss orders, Take-profit, and limit orders. This will allow you to make the most of the market opportunities. For the people who enjoy high-value trading, institutional investment, and self-managed super funds the CoinSpot has the answer to those questions with their over-the-counter trading team ready to assist you with all types of questions for account management.
CoinSpot Crypto Trading App
To make your life easier the CoinSpot platform has created a mobile APP for you to be able to manage your investments everywhere & anywhere you go. The app is easy to maneuver, and within just a few clicks you will be able to take a position or leave the market at any given point. The app will be available for you on Google Play and App Store.
The bundle feature on this exchange is exactly what it sounds like. Bundle together several different digital assets and buy them in one single purchase. This will safe you a lot of time and you can avoid multiple fees from buying the coins separately. Choose between different bundles such as all bitcoin forks coins, NFT (Non Fungible Token) bundle, top 10 market cap bundle, and AI bundle which lets you invest in coins that are directly correlated with Artificial Intelligence.
The OTC desk is a service for wealthy Australian traders, legal entities, entrepreneurs, and other business looking for a safe way to enter the cryptocurrency market and invest in digital assets. On CoinSpot you will be assigned a personal account manager that will handle you OTC transaction all the way from locking in the price which avoids slippage and lowers the fees to instant delivery directly after settlement.
Is CoinSpot regulated?
Yes, CoinSpot is regulated by the Australian Transaction Reports and Analysis Centre(AUSTRAC) incorporation with the Australian government to help to detect criminal abuse and prevent money laundering.
Is CoinSpot safe to use?
Yes, CoinSpot is considered a trustworthy exchange and was the first crypto exchange in Australia to receive an ISO 27001 certificate for information and security.
Frequently asked questions
Read the most frequently asked questions about CoinSpot. Find answers without searching the web.
No, CoinSpot is not available from the US. The platform is only available for people who are living in Australia or if you have an Australian bank account.
CoinSpot has six different payment methods. They are PayID, B-Pay, POLi, Osko, Bank Transfer, and Cash Deposit.
We consider CoinSpot to be a good option for both beginners and more advanced traders.
Yes, CoinSpot is completely free to sign up to and maintaining your account.
The owner of the CoinSpot platform is Casey Block Services Pty Ltd.
CoinSpot has its headquarter in Melbourne, Australia.
Yes, they do! Like all other platforms that offer you the option to buy and sell cryptocurrencies with fiat, you need to verify your identity.
The exchange offers over 300 altcoins including some new coins that have just been released on the market.
Navigate to the Swap tab in the main menu. From here, choose the coins you want to exchange and select the amount. Click Swap to start the process!