CoinSpot vs. 2023

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Sinead Burgess
Sinead Burgess
Updated on July 14, 2023

CoinSpot is the largest cryptocurrency exchange, with more than 2 million customers, and 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 might have something that might fit your crypto needs better than CoinSpot, so read on!

Start Trading with CoinSpot

CoinSpot vs. Comparison Table
coinspot logo
Trading FeesMarket: 0.1%, Instant buy: 1%Included in spread
Deposit FeeBPAY: 0.9%, Cash: 2.5% | Bank transfer, POLi, PayID, OSKO: FreeCredit/Debit card: 3.50% | PayID, BPAY: Free
Withdraw FeeFreeFree
Payment MethodsPayID, Cash Deposit, Bank transfer, OSKO, BPAY, POLiPayID, Credit/Debit card, BPAY



CoinSpot Pros and Cons

Coinspot exchange homepage


  • 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 Pros and Cons homepage


  • Has derivatives and margin trading
  • Insurance cover on cryptocurrencies
  • Fast lending and borrowing of crypto
  • Visa debit card comes with 5% cashback
  • Over 250+ crypto with staking available on 40+ coins


  • 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.

coinspot NFTs 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’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 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.


Supported Cryptocurrencies

CoinSpot has a huge selection of coins – it’s the largest of any Australian cryptocurrency exchange, offering more than 360 cryptocurrencies. also offers a large amount of coins, including over 250 different crypto currencies.

CoinSpot has more than 360 coins as compared to and has more than 250 coins. Although’s collection isn’t abysmal, CoinSpot has over 50 percent more coins to pick from.

Winner: CoinSpot


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. 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 is free. Regarding fees for trading, 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.


Customer Support

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, 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 in terms of customer support, and that is the reason why CoinSpot has the trust of a substantial customer base.

Winner: CoinSpot

Deposit Methods

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 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 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 accepts debit and credit cards however, it comes at the price of a high cost.

Winner: CoinSpot


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. 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.

cryptocom security

In the year 2020, was awarded the ISO/IEC 27701 certification for 2019, being the first cryptocurrency company in the world to obtain this accreditation. 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 are on the top of the list with security measures. CoinSpot is one of the best audited exchange that has ISO 27001 certification, and 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.

Winner: Tie


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

The staking rates are very user-oriented on For Bitcoin and Ethereum the annual rates can reach up to 8.5%, while for USDC, the rates go up to 14%.

Does have cashback features?

Yes, the 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 provide a digital wallet?

Yes, they do. The 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 provide a mobile app?

Indeed they do! The 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

ExchangeDeposit MethodsFiat CurrenciesCryptocurrenciesTrading FeesDeposit FeesWithdrawal Fees


PayID, Osko, Debit Card, Credit Card, Cryptocurrency, Bank TransferAUD / NZD320 +0.6%AUD Deposits: $0 Crypto: NoneAUD Withdrawals: $0 Crypto: NoneVisit

Coinspot exchange logo

PayID, POLi, Cryptocurrency, Cash, BPAY, Bank TransferAUD370+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, RChainDirect Bank Transfer: 0% Direct Deposit: 0% Cash: 2.5% BPAY: 0.9% PayID, POLi, and direct deposits: None AUD withdrawals: $0Visit

binance logo

PayID, Osko, Debit Card, Credit Card, CryptocurrencyUSD, AUD, CNY, EUR, CAD, GBP, UAH, NGN, TRY, RUB600+0% – 0.1%NoneVaryVisit

bybit logo

Crypto, electronic funds transfer (EFT), wire transfer, bank transfer, debit card/credit card50+160+0.1% to 0.6%Bank transfer: $0VaryVisit logo

Bank Transfer (ACH), Crypto, SWIFT, Fedwire, Wise, PayPal, Debit Card, Credit Card, SEPA, BPay19 including USD, AUD, and SGD250+0.04% to 0.4%$0FREE via bank transfer. $25 for USDC withdrawal via SWIFT NetworkVisit

coinjar new logo

Google Pay, Apple Pay, Debit Card, Credit Card, Cryptocurrency, Bank Transfer, CashAUD, GBP50+Taker: 0.04-0.1% Maker: 0.04-0.1%CoinJar users: No fee NPP: No fee Cash: 1.5%0 Withdrawal FeesVisit

Digital Surge
Digital Surge logo

PayID, Osko, POLi, Cryptocurrency, Bank TransferAUD300+0.1% – 0.5%POLi: $2 (capped at $3.30) Deposit Fees Bank Transfer: NoneNone for AU Bank Accounts Cryptocurrency: Network feesVisit

Independent Reserve
Independent Reserve exchange logo

SWIFT, EFT, PayID, Osko, CryptocurrencyUSD, AUD, NZD270.05% – 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$100Cryptocurrency: Fees vary Bank Transfer: None for AUD, $20 for non-AUDVisit

eToro exchange logo

Skrill, Online Banking, PayPal, Neteller, Debit Card, Bank TransferUSD, AUD, EUR, NZD, GBP, HKD, CAD, CHF, NOK, SGD, and 5+ more70+Vary (overnight and weekend fees apply)Vary (conversion fees for non-USD deposits) ($50 minimum deposit)$5 (minimum withdrawal of $50)Visit

Kraken exchange logo

SWIFT, Google Pay, Apple Pay, SEPA, Osko, Wire Transfer, Cryptocurrency, Bank TransferAUD, USD, GBP, EUR, CAD, JPY, CHF140+Taker: 0.10% – 0.26% Maker: 0.00% – 0.16%VaryVaryVisit

KuCoin logo

SEPA, Debit Card, Credit Card, Wire Transfer, PayPal, CryptocurrencyAUD, EUR, USD, RUB, GBP, KRW, CNY, VND, TRY645+0.1%NoneVaryVisit

Easy Crypto
easy crypto logo

Bank transfer, POLi, OSKO, P2PAUD100+Taker fees: 0.5% – 1.6% Maker fees: 0.5% – 1.6%Card deposit fees: 0%$0Visit

coinstash logo

Crypto, Bank Transfer, PayIDAUD410+Taker fees: 0.85% Maker fees: 0.85%$0$0Visit