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Coinbase vs CoinSpot

Coinbase vs CoinSpot

Karen Tren
Fact Checked
July 7, 2022

Summary: CoinSpot is the better exchange for Australian investors because Coinbase offers limited features for users domiciled in AUS.

The CoinSpot platform offers more cryptocurrencies, lower fees and an overall smoother experience.

Table of Contents

Platform Highlights

Is CoinSpot better than Coinbase?

While Coinbase is the larger global brand, the best cryptocurrency exchange for Australians is CoinSpot. As a local exchange, they offer faster and cheaper Australian Dollar deposits when compared to Coinbase Australia.  

As of time of writing, the deposit fees on Coinbase for Australians can be as high as 3.99% per AUD deposit. CoinSpot on the other hand offer free AUD deposits with deposit methods such as bank transfers and PayID/Osko. On top of this high deposit fee, Coinbase charges another 1% per trade on the platform, which means you can pay up to 5% just to complete a trade on their platform.

Australia's most popular trading platform: CoinSpot.

CoinSpot vs Coinbase Compared

The table below provides a high level overview of Coinbase vs CoinSpot.

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CoinSpot
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Coinbase
Trading Fees 1% per trade 3.99% per trade
Spreads 3% spread on average 2% spread on average
Year Founded 2013 2012
Headquarters Sydney, Australia San Francisco, United States
Deposit Methods Bank Transfer, PayID/Osko, Cash and BPAY Debit Card or Credit Card
Supported Cryptocurrencies 300+ cryptos 100+ cryptos
Beginner Friendly Image Image
Platforms Web, iOS Web, iOS, Android
Website Visit CoinSpot Visit Coinbase

Trading Fees

The fees to trade on the CoinSpot cryptocurrency exchange are 1% for an "instant buy" or "instant swap". This feature allows you to instantly buy or sell 300 different cryptocurrencies with Australian Dollars. CoinSpot also has another feature that lets you set an order to buy, which will only charge 0.1% in fees.

Coinbase are one of the most expensive exchanges in the world, charging up to 3.99% for users to buy with a Debit Card or Credit Card.

Available Cryptocurrencies

CoinSpot have the widest selection of cryptocurrencies and altcoins in Australia with over 300 different assets to trade. Coinbase on the other hand only offer 89 different crypto assets on their trading platform.

Coinbase Australia
Explore the coins available on Coinbase Australia.

Deposit Methods

CoinSpot offers free Australian Dollar deposits via a wide variety of payment methods which include Bank Transfers, POLi, PayID/Osko, Cash Deposits, BPAY and more. Coinbase on the other hand only allow users to buy with a Debit Card or Credit Card.

CoinSpot vs Coinbase: Verdict

Generally speaking, when comparing international exchanges like Coinbase or Binance against a local option like CoinSpot, the local option always wins. Australian exchanges are cheaper, have faster verification and faster customer support.

That said, CoinSpot wins when compared head-to-head against Coinbase on all metrics that include fees, deposit methods and total cryptocurrencies available. For more information about their platform, read our CoinSpot Review.

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Karen Tren

Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.

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