CoinSpot Review

CoinSpot Review

Dylan Matthews
Fact Checked
Jan 1, 2023

CoinSpot is Australia's largest and most popular exchange for a reason. Their platform offers the widest variety of Digital Asset trading features including 370+ Cryptos, Crypto Staking, an NFT Marketplace and much more.

Their exchange boasts over 2 million users and supports institutional investors, family offices and SMSF accounts looking to invest in digital assets in Australia.

Table of Contents

CoinSpot Review Highlights

Platform Highlights

  • Instant Australian Dollar (AUD) deposits with 10+ payment methods to buy and sell over 370 cryptocurrencies.
  • Regulated by AUSTRAC as a Digital Asset Service Provider and licensed by ASIC.
  • Wide variety of features including Crypto Staking, NFT Marketplace & Wallet, Crypto ETFs and more.

What is CoinSpot?

Founded in 2013, CoinSpot is Australia's longest running and most popular digital asset trading platform. Their exchange is also highly regarded for their gold-standard security practices and regulatory adherence. CoinSpot are regulated and licensed by AUSTRAC, ASIC and are a Gold Member of the Blockchain Australia committee.

CoinSpot Review

The CoinSpot Australia exchange offers the most feature-rich digital asset trading experience in Australia, these include:

  • Over 370 different cryptocurrencies to buy and sell.
  • 40+ cryptocurrencies to stake and earn interest up to 80% APY.
  • The only Australian exchange with an NFT Marketplace and NFT Wallet.
  • SMSF, OTC and Institutional support.
  • CoinSpot Mastercard and Apple Pay to spend coins from your wallet in the real world.
  • A slick and intuitive iOS/Android Mobile App.

CoinSpot Mobile App

Their app is available to download for both Android and iOS, and it allows users to enjoy the full functionality of CoinSpot. Users can track the prices of their assets in their portfolio and make fast trades whenever and wherever they want. The UI of the app is extremely clean and easy to navigate, even a complete crypto newbie would have no problem using it.

The CoinSpot iOS Mobile App - available on the Apple App Store.

CoinSpot Trading Fees & Deposit Methods

CoinSpot has the lowest fees among any cryptocurrency exchange in Australia. Users incur a small fee of 0.1% when using their Market Buy or OTC feature, their Instant Buy feature will however incur a 1% fee.

For deposits, CoinSpot currently supports the following free methods - POLi, PayID, Direct Deposits. They charge 0.9% when depositing via BPAY and 2.5% when depositing cash. Withdrawing AUD however, is completely free. There are no other exchanges in Australia who offer as many free deposit methods as CoinSpot.

CoinSpot Review
Available Cryptos 370+ Cryptocurrencies
Trading Fees Market Buy 0.1% or Instant Buy 1% per trade
Daily Deposit Limits $100,000 AUD daily
Deposit Methods Bank Transfer, Debit Card, Credit Card PayID/Osko, BPAY, POLi or Cash
NFT Marketplace & NFT Wallet Yes (Integration with OpenSea)
iOS/Mobile App Yes - Web, Android & iOS
Crypto Staking Over 30 staking options with rewards up to 50% APY
User Interface and Experience Image
Customer Support Image
Website www.coinspot.com.au

CoinSpot Mastercard and Apple Pay

The CoinSpot platform has also recently released a CoinSpot Mastercard and Apple Pay card that allows users to securely spend coins from their CoinSpot wallet in the real world. The Mastercard works seamlessly wherever you can tap and pay, and charges zero up-front fees or annual fees.

The Mastercard can be set up in seconds if you have a CoinSpot account and integrated directly with the iPhone iOS App, allowing users to complete payments with Face ID or Touch ID.

CoinSpot Mastercard and Apple Pay.

CoinSpot OTC Desk

The CoinSpot OTC counter serves large scale and institutional investors that perform high-volume transactions on the platform. It has benefits such as access to professional trading brokers, less slippage via lock-in pricing mechanisms and ease of access to assets after trade settlement. Users who utilise this function will also have access to an account manager from CoinSpot.

CoinSpot NFT Marketplace

CoinSpot are the first Australian cryptocurrency exchange to offer a native NFT Marketplace and NFT Wallet on their platform. With the CoinSpot NFT Exchange, users can buy a range of NFTs that are listed on OpenSea that includes Bored Ape Yacht Club, Cool Cats, DeadFellaz, World of Women, 3Landers, VeeFriends and many more.

One of the best features provided by the CoinSpot NFT Marketplace is the ability to buy art with any of the 350+ tokens listed on their platform. This means you can buy BAYC and other collections with Ethereum, Bitcoin, Solana, AVAX, Stablecoins or any other token listed on their platform. They are the first crypto exchange to offer this feature on their NFT store.

CoinSpot NFT Marketplace
The CoinSpot NFT Marketplace.

CoinSpot Bundles

Bundles are a CoinSpot feature that are similar to ETF's (Exchange Traded Funds). Essentially what they do is package a variety of crypto assets into one transaction to speed up and ease the crypto investments process. It's an easy and simple way for users to diversify their portfolio.

For example, say you want to invest in NFTs but you're unsure which NFT token to invest in, you can simply buy the CoinSpot NFT Bundle and get access to multiple tokens such as Decentraland, Axie Inifinity, Sanbox and Theta. All of the CoinSpot bundles will have 10 tokens that your investment will be split equally between.

CoinSpot Bundles
Diversity your Cryptocurrency portfolio with CoinSpot Bundles.

Staking & Earn Program

CoinSpot is one of the only exchanges in Australia to offer staking on cryptocurrencies. They are also one of the only platforms that don't require you to lock up your crypto for a certain period of time. Unlike other popular cryptocurrency exchanges like crypto.com which require their users to stake their assets for a minimum of three months. Additional to this, they have some of the highest yields (returns) out of any platform in Australia.

CoinSpot currently offers staking on the following tokens:

  • ‍(ADA) Cardano - 5.1% APY*
  • (ALGO) Algorand - 6% APY*
  • (ATOM) Cosmos - 10.9% APY*
  • (AVAX) Avalanche - 6.9% APY*
  • (AXS) Axie Infinity - 78% APY*
  • (BNB) BNB - 5% APY*
  • (CRO) Crypto.com - 11.1% APY*
  • (DOT) Polkadot - 12.5% APY*
  • (EGLD) Elrond Gold - 12.1% APY*
  • (FTM) Fantom - 4.2% APY*
  • (LUNA) Terra - 8.1% APY*
  • (SOL) Solana - 6.6% APY*
  • (TRX) TRON - 5.9% APY*
  • (VRA) Verasity - 19.2% APY*
  • (WAN) Wanchain - 6.3% APY*
  • (XTZ) Tezos - 4.2% APY*
  • (ZIL) Zilliqa - 15% APY*
  • (MATIC) Polygon - 12.8% APY*
  • (ONE) Harmony - 9.2% APY*
  • (KSM) Kusama - 18.5% APY*
  • (FLOW) Flow - 6.5% APY*
  • (KAVA) Kava - 23.5% APY*

*APY is estimated and is subject to change. You can learn more in our extensive CoinSpot Staking Guide.

Is CoinSpot Safe?

CoinSpot has undergone an SCI Qual International security audit and is the only Australian-based exchange to be awarded the ISO 27001 standard security certification. The ISO 27001 standard certificate is proof that CoinSpot’s information security management systems are highly secure, eliminating unauthorised access, modification or use for malicious intent.

CoinSpot PTY LTD (ABN 83 169 528 796 and ACN 169 528 796) is registered with the Australian Securities and Investments Commission (ASIC) and is licensed by AUSTRAC as a digital exchange service provider. The exchange was founded by Russell Wilson who is the sole owner CoinSpot and one of the highest net worth crypto entrepreneurs in Australia.

Is CoinSpot Safe?
CoinSpot's ISO 27001 Certification and security information.

CoinSpot Supported Assets

CoinSpot currently supports over 370 cryptocurrencies on their platform and are adding more every week. Additional to cryptocurrencies, users can invest in Bundles (ETF's). The CoinSpot platform grew to become Australia's largest exchange because they are known to be the fastest to list new and exciting digital assets.

Final Thoughts

Overall, CoinSpot is Australia's best and most diverse cryptocurrency trading platform. It offers the widest variety of crypto-native features and is the only platform in Australia that supports NFT Wallet and NFT trading.

CoinSpot is a true all-in one platform that provides a secure and easy way to invest in the digital asset ecosystem.


Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

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