Search Inside Bitcoins

Coinspot Exchange Review – Fees, Pros, Cons and Features 2022

Founded in 2013, Coinspot is an Australian cryptocurrency exchange that supports over 350 cryptocurrencies. Its users are allowed to do crypto-to-crypto trading as well as crypto-to-AUD trading.
Rating 4/5

Coinspot pros and cons

Pros:

  • More than 350 cryptocurrencies supported
  • Australians can deposit with fiat currency
  • No hacks reported to date
  • Very simple platform which makes it perfect for beginners
  • Regulated
  • Mobile App available

Cons:

  • Fiat currency deposits and withdrawals only for Australians
  • No ability to short coins or apply leverage
  • No phone support
  • Security features are lacking

Coinspot is an Australian based exchange that allows users to buy and sell more than 100 different cryptocurrencies. 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.

If you’re thinking about opening an account with Coinspot, we’d suggest you read our comprehensive review first. We’ll discuss everything from fees, supported coins, payment methods, security, regulation, and more.

On this Page:

Contents [show]

    Our Recommended Crypto Exchange (US Friendly)

    eToro exchange
    • Free Secure Wallet supporting 120+ Cryptos - Unlosable Private Key
    • Buy Crypto with Paypal, Credit Card, Bank Transfer
    • Staking rewards for ETH, ADA, TRX holders
    • Trusted by millions of users - ASIC, FCA & CySEC regulated
    • Trade Crypto, Stocks, Forex, Commodities, ETFs
    eToro exchange
    68% of retail investors lose money when trading CFDs with this provider.

    What is Coinspot?

    Launched in 2013, Coinspot is a third-party cryptocurrency exchange based in Australia. The platform has an extensive range of supported coins, with more than 100 cryptocurrencies available to buy and sell.

    This includes crypto-to-crypto trading pairs, as well as crypto-to-AUD.

    The Coinspot platform is rather simple to use, with a clean and crisp interface. The main drawback to using Coinspot for your cryptocurrency needs is that the exchange only accepts fiat deposits and withdrawals from Australian residents. This means that you’ll need to deposit funds with cryptocurrency if you’re based elsewhere.

    How does Coinspot Work?

    Coinspot works much in the same way as any other cryptocurrency exchange. The platform matches buyers and sellers, and charges trading fees for its efforts. When you first register an account with Coinspot, you’ll need to deposit some funds. Once your account is funded, you can then begin trading at Coinspot.

    Some users like to use the platform for their day trading needs, while others use it just to buy crypto. If you’re looking to use Coinspot for your long-term investment needs, then you are best off withdrawing your coins to private Bitcoin wallets.

    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.

    Best Cryptocurrency Exchange in May 2022

    $
    =
    Paxos Standard
    Paxos Standard
    Paxos StandardPaxos Standard
    StellarStellar
    XRPXRP
    LitecoinLitecoin
    EthereumEthereum
    Bitcoin CashBitcoin Cash
    BitcoinBitcoin
    MonaCoinMonaCoin
    AugurAugur
    Bancor Network TokenBancor Network Token
    Golem Network TokenGolem Network Token
    MakerMaker
    GnosisGnosis
    AragonAragon
    Basic Attention TokenBasic Attention Token
    Status Network TokenStatus Network Token
    Crypto.comCrypto.com
    StorjStorj
    DecentralandDecentraland
    UtrustUtrust
    Enjin CoinEnjin Coin
    ChainlinkChainlink
    USD CoinUSD Coin
    BitTorrentBitTorrent
    HedgeTradeHedgeTrade
    QuantQuant
    Matic NetworkMatic Network
    Ocean ProtocolOcean Protocol
    AlgorandAlgorand
    SwipeSwipe
    Orchid ProtocolOrchid Protocol
    Multi Collateral DaiMulti Collateral Dai
    CyberVeinCyberVein
    Hedera HashgraphHedera Hashgraph
    UniBrightUniBright
    LoopringLoopring
    0x0x
    HiveHive
    RevainRevain
    Nervos NetworkNervos Network
    SynthetixSynthetix
    TetherTether
    CompoundCompound
    CeloCelo
    KusamaKusama
    VergeVerge
    TerraTerra
    Bitcoin GoldBitcoin Gold
    SteemSteem
    KomodoKomodo
    Ethereum ClassicEthereum Classic
    ZCashZCash
    VeChainVeChain
    ZilliqaZilliqa
    TRONTRON
    TezosTezos
    SiacoinSiacoin
    RavencoinRavencoin
    QTUMQTUM
    OntologyOntology
    OMG NetworkOMG Network
    NEONEO
    NEMNEM
    MoneroMonero
    LiskLisk
    IOTAIOTA
    IOS tokenIOS token
    ICON ProjectICON Project
    FantomFantom
    EOSEOS
    DogecoinDogecoin
    DecredDecred
    DashDash
    CosmosCosmos
    CardanoCardano
    BitsharesBitshares
    Bitcoin SVBitcoin SV
    WavesWaves
    yearn.financeyearn.finance
    Kyber NetworkKyber Network
    PAX GoldPAX Gold
    KavaKava
    BalancerBalancer
    Curve DAO TokenCurve DAO Token
    NanoNano
    Band ProtocolBand Protocol
    UMAUMA
    StoxStox
    RENREN
    RIF TokenRIF Token
    Reserve RightsReserve Rights
    Energy Web TokenEnergy Web Token
    FTX TokenFTX Token
    ElectroneumElectroneum
    Celsius NetworkCelsius Network
    ThorchainThorchain
    AaveAave
    SerumSerum
    SushiSushi
    Binance CoinBinance Coin
    HeliumHelium
    ZBZB
    ChilizChiliz
    ElrondElrond
    AvalancheAvalanche
    TomoChainTomoChain
    DFI.moneyDFI.money
    Bitcoin DiamondBitcoin Diamond
    ThetaTheta
    Huobi TokenHuobi Token
    BlockstackBlockstack
    PolkadotPolkadot
    StacksStacks
    SolaSola
    SolanaSolana
    StratisStratis
    PlusCoinPlusCoin
    PolygonPolygon
    Machine Xchange CoinMachine Xchange Coin
    Uniswap Protocol TokenUniswap Protocol Token
    HoloHolo
    Wrapped BitcoinWrapped Bitcoin
    The GraphThe Graph
    DaiDai
    xDai ChainxDai Chain
    Shiba InuShiba Inu
    SafeMoonSafeMoon
    1inch1inch
    The SandboxThe Sandbox
    Axie Infinity ShardsAxie Infinity Shards
    Hoge FinanceHoge Finance
    Alien WorldsAlien Worlds
    Yield Guild GamesYield Guild Games
    Ankr NetworkAnkr Network
    Hydro ProtocolHydro Protocol
    Oasis LabsOasis Labs
    RaydiumRaydium
    IlluviumIlluvium
    Render TokenRender Token
    GalaGala
    TravalaTravala
    PancakeSwapPancakeSwap
    Ethernity ChainEthernity Chain
    HarmonyHarmony
    iEx.eciEx.ec
    NumeraireNumeraire
    aelfaelf
    ABBC CoinABBC Coin
    ArdorArdor
    AmpleforthAmpleforth
    Crypto.com Chain TokenCrypto.com Chain Token
    ArweaveArweave
    Worldwide Asset eXchangeWorldwide Asset eXchange
    HorizenHorizen
    BytomBytom
    Gatechain TokenGatechain Token
    JUSTJUST
    HyperCashHyperCash
    NEXONEXO
    Floki InuFloki Inu
    1 Providers that match your filters
    Sort By
    Rating
    Rating
    Price
    1 Providers that match your filters
    Payment methods
    Features
    Usability
    Support
    Fees
    0 or better
    Safety
    0 or better
    Coin selection
    0 or better
    Rating
    0 or better
    Rating
    for $1000 you get0.0332 BTC
    What we like
    Easiest to deposit
    Most regulated
    Copytrade winning investors
    Fees
    Safety
    Coin selection
    for $1000 you get0.0332 BTC
    68% of retail CFD accounts lose money.
    Features
    Instant verificationFor beginnersWallet ServiceMobile App
    Payment methods
    Credit CardGiropayNetellerPaypalSepa TransferSkrillSofort

    Coinspot Alternatives

    68% of retail CFD accounts lose money.
    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.
    74% of retail investor accounts lose money when trading CFDs with this provider.
    The price and value of any investment in digital asset products can fluctuate.
    The traded price of digital tokens can fluctuate greatly within a short period of time.
    Market prices for digital tokens can be volatile and highly unpredictable.
    As with any asset, the values of digital currencies may fluctuate significantly.
    The value of digital currencies can go up or down frequently.
    71% of retail CFD accounts lose money.
    Rating
    5.0
    4.9
    4.7
    4.7
    4.6
    4.5
    4.4
    4.3
    4.1
    Mobile App Rating
    10/10
    10/10
    9/10
    9/10
    8/10
    8/10
    9/10
    9/10
    9/10
    Mobile App
    Wallet
    Number of Coins
    13410859223412465215
    Trading Fees
    Spreads0.2%Spreads0.1%0.1%0.1%0.1%0.50%Spreads
    Deposit Fees
    N/AN/AN/AN/AN/AN/AN/AN/AN/A
    Withdrawal Fees
    $5N/AN/A0.0005 BTCN/AN/AN/AN/AN/A
    Regulated
    ASIC, CySEC, FCAN/ACySECN/AN/AN/AFCAFCACBI, MiFID
    Min. Deposit
    $50N/A100 EURN/AN/A$10$10$2$100
    Leveraged Trading
    N/A1-200xN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1 - 30x
    Bitcoin
    $30143.74$40377.55$30261.29$30163.34$40391.88$40393.04$40404.41$40416.27$30246.22
    Ethereum
    $2059.82$2795.54$2035.56$2022.93$2796.11$2795.55$2797.45$2796.59$2028.48
    XRP
    $0.44$0.78$0.43N/A$0.23N/A$0.78$0.30$0.44
    Tether
    $1.00N/AN/A$1.00$1.00N/AN/A$1.00N/A
    Litecoin
    $70.50$108.99$69.54N/A$109.04N/A$109.10$109.04$69.61
    Bitcoin Cash
    $199.57$294.96$198.40N/A$506.41N/A$295.12$295.07$198.30
    Chainlink
    $7.10$14.68$7.12N/A$14.26N/A$14.68$14.67$7.21
    Cardano
    $0.55$0.83$0.54N/A$0.83N/A$0.83$0.83N/A
    IOTA
    $0.35$0.70$0.34$0.34N/A$0.70$1.91$1.91$0.34
    Binance Coin
    $315.44N/A$308.21$308.13N/AN/A$385.92N/AN/A
    Stellar
    $0.13$0.19$0.13N/A$0.19$0.08$0.19$0.19$0.13
    Bitcoin SV
    $51.12$77.12$50.81N/A$182.50N/AN/AN/AN/A
    USD Coin
    $1.01$1.00N/AN/A$1.00N/AN/AN/AN/A
    EOS