Join 500,000 people instantly calculating their crypto taxes with CoinLedger. CoinSpot is a fantastic choice for Australian crypto investors. Like other exchanges that operate in Australia, CoinSpot reports transactions to the Australian Taxation Office (ATO). However, no customer funds were compromised in the attack.
CoinSpot is a Melbourne-based Australian exchange launched in 2013 that has grown into the country’s most popular crypto platform. Hi Kavin,We are happy to hear you find the platform so easy to use, we appreciate the feedback. I love coinspot for Aus userseasy and cheap to use The platform is super easy to use, even if you’re new to crypto, and I love how quick the deposits and withdrawals are. The platform also lacks some advanced features that more experienced traders may desire, such as margin trading or advanced charting tools.
CoinSpot has limited advanced trading features and higher fees for instant buys and sells, which may not meet the needs of more experienced traders or cost-conscious users. As we come to the end of our voyage, it’s clear that CoinSpot, with its combination of security, convenience, and accessible trading fees, is a worthy contender for anyone looking to trade crypto in Australia. Read our list of top no-fee cryptocurrency exchanges for cost-effective crypto trading and investing. To sum up the CoinSpot review, it is the safest Australian cryptocurrency exchange for buying, selling, and trading crypto with AUD. CoinSpot’s fees are considered high compared to international exchanges like Bybit, which offers a set 0.1% spot trading fee and does not charge for deposits.
CoinSpot is better for beginners who want an easy and safe platform to buy, sell, and swap over 400 cryptocurrencies with AUD. However, it also has some drawbacks, such as high fees for instant transactions and a lack of advanced trading features like margin trading and futures. It has a simple and user-friendly interface, supports over 400 coins, including NFTs and crypto cards, and has a secure and regulated platform.
Demystify Crypto Taxes
You can use any device with an internet connection to access your account, portfolio, wallet, and market data. The trading fees you pay on CoinSpot depend on the type of order you place. It lets you access over 400 digital currencies and offers various trading options such as instant buy/sell, market orders, limit orders, and stop-limit orders. CoinSpot is a leading cryptocurrency exchange in Australia that has been operating since 2013. Discover the ins and outs of the Australian crypto platform, exploring its features, usability, and safety measures. Our platform earns commissions through partnerships and sponsors, which is how we support our analysts.
Can I use CoinSpot outside Australia?
While CoinSpot reported no customer losses, the breach highlighted the importance of cold storage and audits. This incident, confirmed by the Australian Financial Review, involved the transfer of funds from two CoinSpot wallets, utilising bridging services like THORChain and Wan Bridge. For those wanting to know how it compares to other Australian exchanges, check out CoinSpot vs Swyftx. However, these platforms often operate without the same regulatory safeguards as CoinSpot. CoinSpot does not currently offer futures trading largely due to regulatory and strategic considerations. Together, these layers of protection help establish CoinSpot as a safe and compliant choice for Australian crypto investors.
CoinSpot Wallet
Investing in cryptocurrencies comes with significant risk. Here’s how much tax you’ll be paying on your income from Bitcoin, Ethereum, and other cryptocurrencies. CoinSpot also offers a Learn and Earn program — so you can earn free crypto bitit review in exchange for completing short educational modules. CoinSpot is a safe and trusted exchange for Australian crypto investors.
- Seamless user experience, customer service and I appreciate the due digilence follow up from the team.
- The platform does not accept any other money or payment methods outside Australia.
- CoinSpot emerges as Australia’s heavyweight champion in the crypto exchange ring, boasting an extensive lineup of over 420 cryptocurrencies.
- CoinSpot’s fees are considered high compared to international exchanges like Bybit, which offers a set 0.1% spot trading fee and does not charge for deposits.
Comparative Analysis: Advantages, Disadvantages, and Market Position
Definitely recommend it to anyone looking for a trustworthy Aussie crypto exchange. It feels reliable, transparent, and beginner-friendly. App and desktop website are user friendly and easy to understand. Hi,We are happy to hear you find the platform so beginner friendly.
CoinSpot emerges as Australia’s heavyweight champion in the crypto exchange ring, boasting an extensive lineup of over 420 cryptocurrencies. Are you deciding whether CoinSpot is the right exchange for your crypto trading needs? While the platform has a stellar reputation for security, you should take steps to protect your account and stay safe from hackers. Some users report that CoinSpot’s spreads (hidden costs built into cryptocurrency buy and sell prices) may be higher than those on Coinbase. Both CoinSpot and Coinbase are both highly trusted cryptocurrency exchanges. While CoinSpot has strong security features, you should follow best practices to keep your account safe from hackers.
We show the latest reviews
Seamless user experience, customer service and I appreciate the due digilence follow up from the team. Hi,Thank you for the positive review! I loved this app and its so easy to use and everything is easy accessible. I like using coinspot because of the very useful information about how things are going and when to either buy or sell my bitcoin.
Best Zero Fee Crypto Exchanges to Buy Bitcoin & Cryptos in 2025
It offers competitive fees for trading and deposits, making it a more cost-effective option. CoinSpot has charted a course through the tumultuous waters of cryptocurrency trading, offering a vessel that’s both secure and inviting for Australian traders. Yet, those who prefer the convenience of instant transactions will have to weigh the higher trading fees against the speed and ease of access. The use of cold storage for the majority of digital assets in highly secure offline locations, which reduces risks and gives users peace of mind, further demonstrates the platform’s commitment to asset protection. The CoinSpot app and web platform present a user friendly interface that’s as inviting as the Australian coastline, smooth, clear, and easy to navigate.
- The use of cold storage for the majority of digital assets in highly secure offline locations, which reduces risks and gives users peace of mind, further demonstrates the platform’s commitment to asset protection.
- Meanwhile, the specialized service for self-managed super funds (SMSF) offers an additional avenue for Australians to diversify their investment portfolios with cryptocurrency.
- David has been deeply involved with the cryptocurrency industry since 2017.
- It also charges similar fees to Binance for market trades (0.1% vs 0.1%) but high for instant transactions (1% vs 0.1%).
Hi Madeline,Thank you for the positive review, we appreciate it. From #investing to payouts, everything feels aligned and controlled. With no phone support or callbacks, everything was left locked, creating stress and frustration. Part oof it never arrived my account was frozen, and no one could be reached for help.
Replied to 73% of negative reviews Coinspot queried my account when i wasnt even using it. Deposits and withdrawals were fast, and verifying my account only took a few minutes. Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews. All Bitcompare articles go through a rigorous review process before publication.
Is CoinSpot regulated in Australia?
CoinSpot charges Australia’s lowest fee of 0.1% for OTC trading. CoinSpot provides a safe and convenient crypto wallet service for storing your coins. CoinSpot has a mobile app for both iOS and Android that lets you use all the platform’s features from your smartphone or tablet.
The platform is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) and is compliant with the country’s AML and CTF laws. The exchange is trusted for its regulatory compliance, ease of use, and broad service set. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. Verification can help ensure real people are writing the reviews you read on Trustpilot.