CoinSpot is a crypto exchange based in Australia and founded in 2013. They list more than 170 cryptocurrencies plus even let you buy and sell a number of cryptocurrencies like bitcoin with Australian dollars (AUD). Continue reading to learn more about CoinSpot.
CoinSpot is registered under an Australian Business Number (ABN) and is an Australian Digital Commerce Association (ADCA) member. For many Australians who have been invested in cryptocurrencies for several years, chances are that CoinSpot was where they first bought in.
There are two ways to buy and sell cryptocurrencies with AUD on CoinSpot. The first is through its instant buy-and-sell page. Here, you can buy and sell any of roughly one-hundred cryptocurrencies including bitcoin and Ethereum’s ether.
The other way is through CoinSpot’s markets page. CoinSpot markets allow you to trade directly with other CoinSpot users. Trading fees are a lot less lower here, relative to the buy-and-sell page. However, the number of cryptocurrencies you can trade is significantly less.
With CoinSpot, each user has a Multicoin Wallet. With these, you can easily send, receive and store all of your cryptocurrencies in one place. At the same time, you can also track your individual wallet balances with ease.
One feature that is unique to CoinSpot is CoinSwap, which lets you swap any of your cryptocurrencies with other CoinSpot-listed cryptocurrencies.
You can also create a CoinSpot account for your self-managed super fund account on CoinSpot. These accounts are able to trade through CoinSpot’s over-the-counter (OTC) service, known as the CoinSpot Trading Desk.
Other CoinSpot users can also use CoinSpot Trading Desk. Included in the service is direct access to a professional trading broker for all trading enquiries. To eliminate slippage and minimise other risks associated with high-volume trading, the CoinSpot Trading Desk uses lock-in pricing.
Security is something CoinSpot takes very seriously. Among other security measures, they strongly encourage new users to use two-factor authentication (2FA). They have also been certified by Sci Qual International for meeting global standards in information management.