CoinSpot is one of the popular cryptocurrency exchanges operating based in Australia. It is mainly used as a mobile application that supports a wide range of cryptocurrencies It was founded in 2013 and has become one of the most trusted and successful exchanges in the world. In this article, we will look into the CoinSpot Review: Details, Fees & Features.
What is Coinspot? Some Details
CoinSpot is a Melbourne-based cryptocurrency exchange that is controlled by the Australian Securities and Investments Commission (ASIC). The Coinspot allows users to buy, sell and trade various cryptocurrencies. One of the most attractive features of CoinSpot is that it is easier to use. Its user interface is designed in such a way as to provide a great user experience even if it is a novice. The registration process is made simple and once you create an account you can start trading almost immediately.
Fees levied by the Coinspot
While we look into various platforms that deal with crypto, the fees they collect for providing the services are quite varying. Here, CoinSpot charges different fees for its services, but these fees are reasonable and competitive compared with other crypto exchanges all around the world. Here are some of the fees collected by the CoinSpot for their services:
Transaction Fees: They charge a small amount as a transaction fee which is just 1% of all the transactions performed. It’s a bit higher than some of the other exchanges but still reasonable.
Deposit Fee: CoinSpot does not charge a deposit fee for deposits in Australian dollars, but it does for deposits in other currencies. These fees can differ by currency.
Withdrawal Fees: CoinSpot charges a flat fee for withdrawals in each currency.
Features of Coinspot
Coinspot offers diverse features to improve their experience to its users including:
Uses Mobile app: CoinSpot uses a mobile application that can be used from both iOS and Android devices which makes trading an easy activity. This app allows you to buy, sell, and trade cryptocurrencies easily.
Supports OTC trading: CoinSpot offers the feature of over-the-counter (OTC) trading for large orders. This allows traders to avoid the price slippage that can occur while in the open market.
Allows Instant buys: It allows users to purchase cryptocurrencies instantly using a credit card, debit card, or net banking. This is a very useful feature for those who wish to get started with trading quickly.
Safe Security Measures: It has taken excellent security measures and uses various techniques to ensure security and protect your account and funds, including two-factor authentication and SSL.
Customer support: Coinspot offers a wide range of customer support options, including email, phone, and live chat. It has an efficient customer support team that is available 24/7 to assist users with any problems or questions they might have.
Overall, CoinSpot is a reliable and trustworthy cryptocurrency exchange with a wide range of features and competitive fees. It is an excellent choice for anyone looking to buy, sell, or trade cryptocurrencies in Australia, and its ease of use makes it a good option for beginners.