CoinSpot vs. Crypto.com 2023
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CoinSpot is the largest cryptocurrency exchange, with more than 2 million customers, and Crypto.com is a well-known cryptocurrency application that is growing rapidly.
For an Australian user, which one is the best choice to your needs? I’ve reviewed both platforms in depth for you, so that you can make your own decision. My personal choice is CoinSpot because aside from being an Australian-based crypto exchange, it just offers a lot as an Australian crypto trader.
Overall, CoinSpot is clearly the winner in this comparison. But Crypto.com might have something that might fit your crypto needs better than CoinSpot, so read on!
Table of Contents
CoinSpot vs. Crypto.com Comparison Table
|Trading Fees||Market: 0.1%, Instant buy: 1%||Included in spread|
|Deposit Fee||BPAY: 0.9%, Cash: 2.5% | Bank transfer, POLi, PayID, OSKO: Free||Credit/Debit card: 3.50% | PayID, BPAY: Free|
|Payment Methods||PayID, Cash Deposit, Bank transfer, OSKO, BPAY, POLi||PayID, Credit/Debit card, BPAY|
CoinSpot Pros and Cons
- Large selection of cryptocurrencies for instant purchases and sales
- Proven track record as a trustworthy company
- Quick deposit and withdrawals
- Beginner-friendly design
- Cold storage for keeping users’ and company funds offline
- NFT market available
- High fees for instant purchases
- No option for credit and debit card deposit
Crypto.com Pros and Cons
- Has derivatives and margin trading
- Insurance cover on cryptocurrencies
- Fast lending and borrowing of crypto
- Crypto.com Visa debit card comes with 5% cashback
- Over 250+ crypto with staking available on 40+ coins
- Crypto.com Visa card may require currency conversion fees
CoinSpot is a great choice for an easy, straightforward exchange for the common Aussie to gain access on the latest crypto. This is a major reason they have such a large number of users (over 2.5 million). Their live, 24/7 Chat customer support is extremely responsive and helpful as well, and if you’d rather, you can contact them via email. CoinSpot offers additional features like the NFT marketplace, as well as staking with 21-coins.
Crypto.com has many useful features, like investing the crypto to make interest but the feature that has all people hopping aboard this app is the no-cost Visa debit card. The card is an Visa debit card when you stake at minimum $500 in Crypto.com’s token, known as CRO. The card you are issued is dependent on the amount that you put in, however there are numerous great advantages to the card like up to 5 percent cashback in CRO on any purchase, 100 percent return to Spotify and Netflix and 10% cashback when you use Airbnb and Expedia and access to airport lounges.
The Crypto.com application has attracted the attention of everyone thanks to their no-cost Visa debit card. Since November 2021 , the card has been accessible to Australian customers, allowing them to get free cryptocurrency each when they make a purchase using the card. The ability to stake 47 different coins through the app is another great benefit for those looking to make an investment that lasts for a long time in crypto.
CoinSpot has a huge selection of coins – it’s the largest of any Australian cryptocurrency exchange, offering more than 360 cryptocurrencies.
Crypto.com also offers a large amount of coins, including over 250 different crypto currencies.
CoinSpot has more than 360 coins as compared to Crypto.com and has more than 250 coins. Although Crypto.com’s collection isn’t abysmal, CoinSpot has over 50 percent more coins to pick from.
CoinSpot offers a variety of deposit options that are completely cost-free: POLi, PayID, OSKO. If you choose to pay using BPAY it’s 0.9 percent, or 2.5 percent with cash deposits. The withdrawals of AUD are completely free. To buy or sell crypto instantly costs 1cent, however when you make a trade on the market it’s just 0.1 percent. Be aware that there are only 14 coins accessible for trading with on market.
Crypto.com doesn’t charge fees for deposits made with BPAY or PayID. If you’re looking to purchase crypto using a credit card or debit card, you will be charged a charge of 3.50 percent, however they’ll waive it within your first thirty days that your account is open. When you withdraw AUD from Crypto.com is free. Regarding fees for trading, Crypto.com does not charge an amount for commission, however, the fees they charge are part of their larger spread. Spread is the amount that differs between stated prices for selling and buying each coin.
CoinSpot’s Live Chat feature lets you contact the customer service team promptly. If you happen to encounter any issues you can reach the customer support team they are competent, responsive, and proficient in resolving customer problems.
Contact the support team by calling our Help Desk 24/7. CoinSpot’s support team will reach out to you to discuss your problems and resolve them usually within 24 hours.
In addition, CoinSpot has a comprehensive guide to information that includes enlightening instruction for beginners, as well as an frequently asked questions section to help new investors with getting Bitcoin as well as other currencies that are digital.
Customer support is accessible via the help page, email or live chat. as of this the writing process, Crypto.com does not offer telephone support. Support for customers is available via live chat and email many customers have complained about slow responses as well as a lack of support when it comes to problems with their accounts.
It is without doubt that CoinSpot surpasses Crypto.com in terms of customer support, and that is the reason why CoinSpot has the trust of a substantial customer base.
CoinSpot offers a variety of fee-free deposit options, such as Direct Deposit, PayID, POLi and cryptocurrency. BPAY (0.9 fee of.9%) and cash deposits through BlueShyft (2.5 percent) is also free to customers to deposit funds.
You can fund you Crypto.com account by transferring cryptocurrencies you already have, or by making deposits in Singapore Dollar (SGD) via third-party payment gateways like Xfers or IBAN or by transferring USD to USDC through your multi-currency bank account to the Crypto.com wallet. For Australian customers, AUD can only be deposited using PayID, debit/credit card or BPAY to trade.
CoinSpot offers a variety of ways to deposit that are suited for Australian traders. With its free and instant deposit options, CoinSpot is the winner. While Crypto.com accepts debit and credit cards however, it comes at the price of a high cost.
CoinSpot represents the gold standard of safety for the Australian cryptocurrency market. It is considered to be the most reliable, secure and audited cryptocurrency marketplace in Australia. It is the sole one to have ISO 27001 certification, and is a member of Blockchain Australia. It uses 2FA logins, geo-locking and anti-phishing codes and keeps the bulk of its cryptocurrency as cold storage.
Crypto.com is another reputable and secure cryptocurrency exchange that keeps the majority of cryptocurrency transactions off-line in cold storage by using Ledger Vault’s custody for institutions. The money they keep within hot wallets comprise corporate funds that are used to handle every day withdrawal requests from customers.
In the year 2020, Crypto.com was awarded the ISO/IEC 27701 certification for 2019, being the first cryptocurrency company in the world to obtain this accreditation. Crypto.com also offers insurance for cryptocurrency of $750 million, which protects their customers against physical damage destruction, loss, and third-party theft.
Each of CoinSpot as well as Crypto.com are on the top of the list with security measures. CoinSpot is one of the best audited exchange that has ISO 27001 certification, and Crypto.com is certified with ISO/IEC 27701:2019 certification. They also have an insurance policy of $750 million. It is safe to trade on any of these platforms without fearing the loss of your money.
CoinSpot is without doubt the winner in our competition. If you have any issues, you can call their knowledgeable customer support team 24/7. If you require assistance with an exchange, you can contact live support via live chat feature or Help Desk. CoinSpot has an intuitive interface for users that even the least skilled user can use. Users of CoinSpot can trade different currencies with the highest levels of security, which makes it a great choice for traders and investors both in Australia and around the world.
Frequently Asked Questions
Is Coinspot the easiest way to buy Bitcoin in Australia?
CoinSpot is a very user-friendly platform. It enables beginners to buy and sell any cryptocurrency using their local currency, AUD. Australian traders can instantly make crypto trades through the CoinSpot website or mobile app.
Is there a CoinSpot app?
Yes. The CoinSpot app is a convenient on-the-go trading assistant that allows you to trade and monitor your assets wherever you go. You can download it for free from the App Store for iOS-supported devices and Google Play for Android-supported devices.
What countries are supported by CoinSpot?
The financial services of this platform are exclusively available to residents of Australia.
Is CoinSpot Regulated In Australia?
Cryptocurrency exchanges are categorized as legal entities in Australia and are required to comply in accordance with Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF 2006). Being a well-established participant on the market, CoinSpot operates in full conformity with Australian laws.
What types of NFTs are available on CoinSpot?
CoinSpot isn’t in any way connected with CoinSpot isn’t closely linked to DeFi area of the crypto world , but it does have a selection of the hugely popular art tokens referred to as NFTs. There are more than twenty NFT collection that are available for sale directly on CoinSpot which includes Decentraland (MANA), ApeCoin (APE) along with Sandbox (SAND)
What are the staking rates on Crypto.com?
The staking rates are very user-oriented on Crypto.com. For Bitcoin and Ethereum the annual rates can reach up to 8.5%, while for USDC, the rates go up to 14%.
Does Crypto.com have cashback features?
Yes, the Crypto.com Visa cards have multiple tiers of cashback but require users to stake different amounts of crypto to unlock better cashback rates and other bonuses. The initial Midnight Blue card doesn’t require users to stake any crypto but only provides 1% cashback.
Does Crypto.com provide a digital wallet?
Yes, they do. The Crypto.com DeFi wallet is developed to offer users a secure environment for storing their private keys. The wallet is free to download and provides industry-standard security features, including two-factor authentication (2FA). It allows users to send and receive cryptocurrencies with custom network fees, in order to adjust the transaction speed.
Does Crypto.com provide a mobile app?
Indeed they do! The Crypto.com mobile app is one of the best mobile apps available on the market. The app is feature-packed with all of the features from the main desktop platform and provides users with a user-friendly interface for remote trading.
Best Crypto Exchanges Compared
|Exchange||Deposit Methods||Fiat Currencies||Cryptocurrencies||Trading Fees||Deposit Fees||Withdrawal Fees||Sign Up|
|PayID, Osko, Debit Card, Credit Card, Cryptocurrency, Bank Transfer||AUD / NZD||320 +||0.6%||AUD Deposits: $0 Crypto: None||AUD Withdrawals: $0 Crypto: None||Visit|
|PayID, POLi, Cryptocurrency, Cash, BPAY, Bank Transfer||AUD||370+||OTC: 0.1% Instant buy/sell: 1% Market order: 0.1%* (applies to BTC, LTC, XRP, ETH, DOGE, POWR, NEO, TRX, GAS, XLM, EOS, RFOX, RChain||Direct Bank Transfer: 0% Direct Deposit: 0% Cash: 2.5% BPAY: 0.9% PayID, POLi, and direct deposits: None||AUD withdrawals: $0||Visit|
|PayID, Osko, Debit Card, Credit Card, Cryptocurrency||USD, AUD, CNY, EUR, CAD, GBP, UAH, NGN, TRY, RUB||600+||0% – 0.1%||None||Vary||Visit|
|Crypto, electronic funds transfer (EFT), wire transfer, bank transfer, debit card/credit card||50+||160+||0.1% to 0.6%||Bank transfer: $0||Vary||Visit|
|Bank Transfer (ACH), Crypto, SWIFT, Fedwire, Wise, PayPal, Debit Card, Credit Card, SEPA, BPay||19 including USD, AUD, and SGD||250+||0.04% to 0.4%||$0||FREE via bank transfer. $25 for USDC withdrawal via SWIFT Network||Visit|
|Google Pay, Apple Pay, Debit Card, Credit Card, Cryptocurrency, Bank Transfer, Cash||AUD, GBP||50+||Taker: 0.04-0.1% Maker: 0.04-0.1%||CoinJar users: No fee NPP: No fee Cash: 1.5%||0 Withdrawal Fees||Visit|
|PayID, Osko, POLi, Cryptocurrency, Bank Transfer||AUD||300+||0.1% – 0.5%||POLi: $2 (capped at $3.30) Deposit Fees Bank Transfer: None||None for AU Bank Accounts Cryptocurrency: Network fees||Visit|
|SWIFT, EFT, PayID, Osko, Cryptocurrency||USD, AUD, NZD||27||0.05% – 0.5%||For SWIFT: $15 for deposits under AU$5,000 equivalent None for deposits over AU$5,000 equivalent For EFT: AU$0.99 for deposits under $100 None for deposits over AU$100||Cryptocurrency: Fees vary Bank Transfer: None for AUD, $20 for non-AUD||Visit|
|Skrill, Online Banking, PayPal, Neteller, Debit Card, Bank Transfer||USD, AUD, EUR, NZD, GBP, HKD, CAD, CHF, NOK, SGD, and 5+ more||70+||Vary (overnight and weekend fees apply)||Vary (conversion fees for non-USD deposits) ($50 minimum deposit)||$5 (minimum withdrawal of $50)||Visit|
|SWIFT, Google Pay, Apple Pay, SEPA, Osko, Wire Transfer, Cryptocurrency, Bank Transfer||AUD, USD, GBP, EUR, CAD, JPY, CHF||140+||Taker: 0.10% – 0.26% Maker: 0.00% – 0.16%||Vary||Vary||Visit|
|SEPA, Debit Card, Credit Card, Wire Transfer, PayPal, Cryptocurrency||AUD, EUR, USD, RUB, GBP, KRW, CNY, VND, TRY||645+||0.1%||None||Vary||Visit|
|Bank transfer, POLi, OSKO, P2P||AUD||100+||Taker fees: 0.5% – 1.6% Maker fees: 0.5% – 1.6%||Card deposit fees: 0%||$0||Visit|
|Crypto, Bank Transfer, PayID||AUD||410+||Taker fees: 0.85% Maker fees: 0.85%||$0||$0||Visit|