Summary: CoinSpot is the largest Australian cryptocurrency exchange and has different fees for deposits, withdrawals, and trading, depending on what method you use. For example, when it comes to trading fees, Market Orders only incur a small 0.1% fee, but for Instant Buy orders, there's a 1% trading fee. It provides one of the most affordable trading platforms in the country.
- Market Order Fees 0.1% and Instant Buy Fees 1% per trade.
- AUD deposit & withdrawal fees vary depending on payment method.
- Tighter spreads and lower fees available via OTC for institutional investors and orders over $100K.
Is CoinSpot an Expensive Exchange?
Not at all, CoinSpot is considered one of the most affordable cryptocurrency exchanges in Australia. This is because it offers multiple free AUD deposit methods, and has the cheapest 'Market Buy' orders in the country at a competitively low 0.1% per transaction. However, this feature is only available for selected tokens, including Bitcoin, Ethereum, and 13 other digital assets.
What are CoinSpot’s Trading Fees?
There are two ways to purchase cryptocurrencies on CoinSpot, through the Instant Buy and the Market Buy feature. Refer to the below for a quick summary of the differences between these two trading types:
- The Instant Buy feature allows users to buy and sell all of the 420 supported tokens for a set price, chosen by CoinSpot, for a 1% fee.
- The Market Buy feature allows users to buy and sell 15 tokens on CoinSpot with other users for prices determined by the seller for a low fee of 0.1%.
Does CoinSpot have Subscription Fees?
No, CoinSpot does not charge subscription fees to maintain an account on its platform. This means it is completely free to use the CoinSpot exchange. The only time you will need to pay fees is when you buy or sell a token, withdraw crypto, or deposit AUD (selected methods).
Fees to Deposit AUD on CoinSpot
CoinSpot offers the lowest deposit fees in Australia with four free AUD payment methods. It also is the only exchange that accepts cash deposits, which can be done at over 1000 BlueShyft locations across Australia. To learn more about how to deposit cash, visit our CoinSpot cash deposit guide. Below is a detailed overview of the deposit fees charged on the platform:
- POLi, PayID, Osko & Bank Transfer: Free.
- BPAY: 0.9%.
- Credit & Debit Card: 2.58%.
- Cash: 2.5%.
Are there OTC and SMSF Fees?
CoinSpot OTC (Over-The-Counter) trading allows users to buy and sell over $100,000 in any cryptocurrency with lower fees and less slippage. The OTC and SMSF fees are 0.1% and provide a personalised manager to conduct the orders. If you're interested in learning more about the exchange and its features, visit our CoinSpot Review.
To summarise, CoinSpot is one of the most affordable cryptocurrency exchanges in Australia. The fees for buying and selling crypto on CoinSpot are very low at 0.1%, especially compared to other leading exchanges like Kraken (1%) and Coinbase (2.49%). The exchange also offers four free AUD deposit methods which makes it even more attractive to Australian users.