BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...      BTC Fetching...      ETH - Ethereum ETH Fetching...      BCH - Bitcoin Cash BCH Fetching...      LTC - Litecoin LTC Fetching...      XRP - Ripple XRP Fetching...      BNB - Binance Coin BNB Fetching...      EOS - EOS EOS Fetching...      XLM - Stellar XLM Fetching...      ADA - Cardano ADA Fetching...      TRX - TRON TRX Fetching...     

Fees

Taker fee

0.10%

Maker fee

0.10%

Withdrawal fee

Bitcoin Logo 2.9E-5

Funding methods

Wire Transfer

Yes

Credit Card

Cross

Crypto

Yes

US Investors Permitted

Cross

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CoinSpot Review

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of CoinSpot consists of four parts: general information, fees, deposit methods and security.

General Information

CoinSpot is a cryptocurrency exchange from Australia. They are one of the leading Australian gateway companies into the cryptocurrency world, meaning that they allow the purchase of cryptocurrency with fiat currency. The exchange was founded in Melbourne 2013. They are a member of ADCA – the Australian Digital Commerce Association. ADCA is not a regulatory authority, but the membership still shows some form of long term commitment to the adoption of blockchain technology.

CoinSpot Homepage

CoinSpot emphasizes three things on its landing page as special benefits with the CoinSpot-platform. They emphasize that it has “streamlined trading”. With this, they mean that you can deposit and trade easily from your CoinSpot-account. No need for any “deposit detours” or anything like that. They also highlight that they have a skilled and professional support team. This is always helpful to users struggling with any issues. Finally, they note that they have a multicoin wallet.

CoinSpot Three Items

US-investors

US-investors may not trade on this exchange. So if you are a US-investor and want to trade at CoinSpot, you’ll have to reconsider your choice of trading venue. Use our Exchange Finder here to find the right exchange for you.

CoinSpot Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at CoinSpot:

CoinSpot Trading View

CoinSpot Fees

CoinSpot Trading fees

Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Instead, they charge a “flat fee” of 0.10%. This means that both takers and makers in a deal pay 0.10% in fees. 0.10% in trading fees is below the industry average (arguably around 0.25%) and thus a competitive advantage for CoinSpot.

CoinSpot also offers an instant buying and selling feature. This feature allows the users of the platform to sell any cryptocurrency available into any other cryptocurrency available. For example, XRP into TRX in one single transaction. The instant buy & sell function has a trading fee of 1.00%.

CoinSpot Withdrawal fees

Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.

CoinSpot, however, only charges the network fees when you withdraw cryptocurrencies. This is a strong competitive edge in the market and distinguishes CoinSpot from most other top crypto exchanges.

Deposit Methods

This trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card. As wire transfers are permitted, this exchange qualifies as an “entry-level exchange”. Entry-level exchanges are exchanges which make it possible for new cryptocurrency investors to take their first steps into the cryptocurrency world.

You can wire transfer through POLi payments or PAYID instant AUD deposits (no fee is charged by the exchange or the relevant payment service provider for these deposits), through BPAY payments (0.90% fee is charged by the payment service provider) or through Cash payments (2.00% fee is charged by the payment service provider). BPAY payments are processed three times per day.

CoinSpot Security

This exchange’s security score is B-, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is a great security score indeed. Actually, the majority of cryptocurrency exchanges in our Cryptocurrency Exchange List actually only receives an F when running the Observatory-test

CoinSpot’s security score is impressive and demonstrates their commitment to, and focus on, security matters.

Good job, CoinSpot!

***

The exchange reviewed above has a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges:

  1. Changelly
  2. Bleutrade
  3. YoBit
  4. Gate.io
  5. KuCoin
  6. BTC-Alpha
  7. Trade Satoshi
  8. Nova Exchange
  9. OKEX
  10. Exrates

CoinSpot compared with other cryptocurrency exchanges

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