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CoinSpot Referral Code 2023
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Sinead Burgess
CoinSpot is one of the largest cryptocurrency exchange platforms in Australia. Aussie crypto enthusiasts have been using CoinSpot to invest in crypto and trade coins since 2013. The platform is very user-friendly and has a nice referral program that rewards new users with 10 AUD worth of Bitcoin (BTC) once they make their first fiat deposit.
Unlike many competitor platforms that require high deposits to unlock referral bonuses, you’ll automatically get your 10 AUD bonus as soon as you deposit any amount of AUD to CoinSpot if you have a referral code.
You don’t need to browse the web in search of referral codes. Just use our code during the sign-up process and claim your 10 AUD worth of Bitcoin. Additionally, you can get your own CoinSpot referral code after depositing at least 50 AUD within 90 days of your account registration. Each time someone signs up with your code, you’ll both get 10 AUD worth of BTC.
Table of Contents
What Is CoinSpot?
CoinSpot is one of the best-known Aussie crypto exchanges. The platform is a true crypto veteran as it was launched back in 2013, just four years after the launch of Bitcoin. CoinSpot has excellent security features, and the platform stores most of its assets in cold wallets.
The instant buy/sell feature makes it easy for the average crypto enthusiast to gain quick exposure to digital currencies and invest fiat money in Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and numerous additional cryptos. More experienced traders can use the markets interface for their daily operations.
When it comes to crypto trading, you’ll find nearly 400 coins and tokens on CoinSpot, which is more than enough for even the most active traders.
How to Use the CoinSpot Referral Code
Let’s look at how the CoinSpot referral code works:
- The first thing you need to do is create a CoinSpot platform account.
- You’ll have to provide CoinSpot with your email address and a custom password. Make sure the password is strong and combines letters, numbers, and special characters.
- During the registration phase, you’ll see an option to enter a referral code. Just use our code to get the 10 AUD sign-up bonus.
- You need to go through the CoinSpot know-your-customer (KYC) procedure and verify your identity by providing personal information and a photo of a government-issued identification document.
- Once you’re done with the identity verification step, you have 90 days to make your first AUD deposit to receive the 10 AUD bonus.
- After making your first deposit, you’ll automatically receive 10 AUD worth of Bitcoin in your CoinSpot account.
CoinSpot Review
CoinSpot is among the top crypto exchanges for Australian crypto traders. More than 2.5 million Aussie traders trust CoinSpot for all their crypto-related activities, including investing, trading, staking, and storing crypto safely. CoinSpot is licensed as a money service business in all parts of Australia. The platform is fully regulated by AUSTRAC, which means that users are legally protected in case the platform gets hacked or if it goes out of business.
You can find hundreds of popular digital currencies on CoinSpot, and it’s super easy to start investing in crypto through the instant buy/sell feature. More experienced users have the advanced markets interface at their disposal, where they can find a standard price chart with technical analysis tools.
Users can also choose between different order types and monitor each trading pair’s recent orders through the live order book. CoinSpot is also a great platform for earning interest on your cryptos because you can stake more than 20 popular coins and tokens for a nice annual percentage yield (APY). Finally, CoinSpot supports numerous fiat payment methods, including OSKO, BPAY, cash deposits, POLi, PayID, and bank account transfers.
Supported Cryptocurrencies
The selection of supported cryptos is one of the most important aspects of every cryptocurrency exchange, and CoinSpot is absolutely perfect on this front. You can find nearly 400 coins and tokens on CoinSpot, including most of the top 100 cryptocurrencies, along with a few hundred less popular but promising tokens.
The supported coins include Bitcoin (BTC), Cardano (ADA), Litecoin (LTC), Uniswap (UNI), Cosmos (ATOM), Ethereum (ETH), Avalanche (AVAX), Ripple (XRP), Dogecoin (DOGE), Bitcoin Cash (BCH), Stellar Lumens (XLM), Algorand (ALGO), Tether (USDT), Decentraland (MANDA), and more than 350 additional altcoins.
Fees
CoinSpot has a straightforward fee policy. Using the instant buy/sell feature always incurs a 1% trading fee, which is a bit pricey. But keep in mind that the feature lets you instantly purchase or sell assets for fiat currency, which is very convenient. Experienced traders who use the markets interface for trading pay a much lower 0.1% fee. Using the CoinSpot over-the-counter (OTC) brokerage service also incurs a 0.1% fee.
When it comes to deposits and withdrawals, all fiat withdrawals are free of charge, while withdrawing crypto incurs a standard blockchain transaction fee, which is different for all cryptos. Fiat deposits are mostly free of charge except for BPAY, which costs 0.9% per transaction, and direct cash deposits, which cost 2.5%.
Pros
- Very user-friendly platform.
- Nearly 400 coins and tokens.
- More than 20 assets are available for staking.
- Numerous fiat currency deposit methods.
- Low fees when trading on the markets interface.
Cons
- High fees for instant trading.
- Doesn’t support bank cards.
- Doesn’t support any fiat currency besides AUD.
CoinSpot vs Coinbase
Coinbase is one of the largest international crypto exchange platforms, with a huge trading volume and numerous platform features. However, it only supports some 130+ coins and tokens. Coinbase is available to Australian users but doesn’t support Australian dollars, so you’ll need to deposit USD, EUR, or GBP to use it. This considerably complicates things for Aussie traders.
In terms of platform features, Coinbase is focused on instant trading, but experienced users also have the CoinbasePro platform at their disposal. The Pro version gives users access to numerous advanced trading features and more order types than those available on CoinSpot. Overall, Coinbase is a great exchange for users in the US, UK, and the European Union. Still, CoinSpot is a better choice for Australian traders because it supports Australian dollars and more cryptos.
CoinSpot vs Binance
Binance is the largest player among crypto exchanges. Out of more than 500 platforms, Binance has the highest trading volumes and supports more than 600 digital currencies. Binance is available to Australian users and supports Australian dollars and various local payment methods. The fees for market trading are the same as CoinSpot, at 0.1% per trade, but the instant trading fees are lower on Binance.
The Binance exchange offers an instant trading feature, a pro trading interface, and numerous additional features such as crypto derivatives, asset staking, crypto lending, and an NFT marketplace. CoinSpot is really one of the best Australian crypto exchanges, but Binance definitely has a broader range of features. However, it might be more convenient for Aussie traders to use a local exchange like CoinSpot.
CoinSpot vs CoinSmart
The CoinSmart crypto exchange is a native Canadian crypto trading platform, but it’s also available in Australia. However, CoinSmart only supports USD, CAD, and EUR, and there’s no support for Australian dollars on CoinSmart. Additionally, CoinSmart is a crypto brokerage platform that fetches crypto from other traders to resell the crypto to you. That’s why CoinSmart doesn’t have straightforward fees.
Instead, you’ll be charged a spread, usually around 0.7%, but it can also go beyond 1%, which is quite pricey. Unlike CoinSpot, CoinSmart doesn’t support any standard crypto trading features or asset staking, which makes it unsuitable for daily crypto trading operations. Overall, CoinSpot is definitely a better choice for Aussie traders.
CoinSpot Alternatives
Swyftx is a solid alternative to CoinSpot if you’re a beginner looking for an easy-to-use crypto exchange that lets you deposit fiat currency and exchange it for crypto. Swyftx is a native Australian platform that supports various local payment methods such as OSKO, PayID, and POLi. Swyftx also supports bank cards, which means you can purchase crypto within a few minutes with a debit card or credit card. The exchange supports more than 320 coins and tokens.
Digital Surge is one of the safest crypto exchanges in Australia. The platform is famous for its security and the clean user interface that enables crypto traders to easily navigate the platform. The exchange is useful for instant trading and geared towards beginners and average crypto traders who want to invest in crypto. You can trade more than 310 digital currencies, including all leading coins and tokens. Digital Surge supports popular Aussie payment methods, and it’s registered with AUSTRAC, which means that you’re legally protected in case the platform gets hacked.
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frequently asked questions
A CoinSpot referral is worth 10 AUD in Bitcoin.
Yes, you need to create a CoinSpot account to get your 10 AUD worth of free Bitcoin. Only new CoinSpot accounts are eligible for the 10 AUD bonus.
These codes can only be used once – during the signup process – and they are used to promote the Swyftx platform on the web. The referral code, on the other hand, is a permanent Swyftx offer.
Promo codes are usually found on websites dealing with special offers, coupons, and discounts.
You can withdraw your 10 AUD Bitcoin bonus at any time, just like any other cryptocurrency.
You just need to make your first AUD deposit. There’s no specific amount for the referral bonus. However, if you want to get your own referral code, you’ll need to deposit at least 50 AUD.
Yes, you’ll need to verify your identity to get the 10 AUD bonus. CoinSpot is a regulated crypto exchange and requires users to prove their identity before they can use the platform. The identity verification step usually only takes a few minutes.