Trading in cryptocurrencies is a lucrative but cutthroat market. Therefore, in order to maximise profits and protect assets, investors want trustworthy exchanges with high liquidity, competitive spreads, and a robust security infrastructure. If you’re familiar with crypto, you’ve probably heard of CoinSpot, Australia’s most popular exchange. There are plenty of positive CoinSpot Review: Australia’s Leading Crypto Exchange.
Is it safe to use CoinSpot in Australia though? Are my coins safe on CoinSpot? How much is CoinSpot’s minimum fee for a transaction? Is there something wrong with CoinSpot? When using CoinSpot, is a wallet necessary? To get the details about CoinSpot’s trading costs, security, and other features, keep reading this article.
- CoinSpot: what is it?
When CoinSpot first opened its virtual doors in 2013, it was Australia’s first cryptocurrency exchange. One of the first significant cryptocurrency exchanges in the nation, it was founded by cyber-security specialist Russell Wilson. As the cryptocurrency market’s go-to provider of digital assets, it has constantly expanded its offerings since its start.
CoinSpot continues to be the most popular cryptocurrency exchange in Australia, even with the emergence of competing sites like Digital Surge and Swyftx. Instant traders, OTC traders, and SMSF investors may all benefit from the platform’s wide selection of cryptocurrencies, convenient deposit options, and low trading costs. CoinSpot also has staking services, an internal NFT marketplace, ISO certification for data protection, and round-the-clock, helpful customer care reps.
- Pros Of CoinSpot
More than any other Australian exchange, it supports over 370 distinct cryptocurrencies.
BlueShyft locations around Australia accept POLi, BPAY, PayID, and cash deposits in Australian Dollars.
New request-a-call tool allows customers to set up a call with support professionals at any time of day or night, live chart help from a prompt and competent expert local support team.
The NFT market is the first of its kind in Australia, simplifying the process of buying and selling NFTs by enabling users to use any of the listed currencies.
There is NO LOCK IN PERIOD for staked coins, and staking profits are sent instantly to users’ accounts using the straightforward staking tool.
Larger transactions may be executed using CoinSpot’s OTC service for a flat 0.1% charge, with no further fees added.
Australia’s first AUSTRAC-approved and ISO-accredited bitcoin trading platform. CoinSpot’s emphasis on safety is undoubtedly a strength.
Compared to Competing Platforms, What Sets CoinSpot Apart?
One think customer service is one of the most crucial factors when we evaluate a trading platform, and most CoinSpot reviews on Reddit, Trustpilot, and other sites seem to agree with that assessment. Some marketplaces have bad Trustpilot ratings because they don’t answer their consumers’ queries. No such concern exists, though, if you choose to invest with CoinSpot.
Quality of service provided to customers is exceptional. The 24/7 availability of live chat means you can always obtain a quick answer to your questions. The outcomes of our testing of this function exceeded our expectations. In less than a minute, a genuine agent connected with us, which was far quicker than any other exchange, and the whole team was really helpful and kind.
You can always submit a message to their Help Desk, even if you can’t start a live chat. If you submit a ticket, the support staff will come back to you right away to begin working on it; you may react whenever you’re ready.
Conclusion:
Additionally, CoinSpot’s education centre has instructional guides and a frequently asked questions page for prospective investors interested in purchasing Bitcoin and other digital currencies.