CoinSpot

35 user reviews

CoinSpot is a fee-based digital currency (cryptocurrency) trading platform based in Melbourne, Australia. Former programmer Russell Wilson founded CoinSpot in 2013 with two main objectives: to enable anybody to enter the digital currency market, and to promote the widespread acceptance of digital currency assets. CoinSpot’s stated aim is to deliver superior customer service to beginner and experienced traders alike. The CoinSpot platform enables users to buy, sell, send, spend or store digital currencies, without the need for in-depth technical knowledge. In order to trade on the CoinSpot platform, customers need to register a user account. Once registered, it is possible to log in from a desktop, or to transact from a mobile device with the secure CoinSpot multi-currency digital wallet. Residents of Australia can also link a bank account and trade in Australian Dollars. CoinSpot customers can instantly buy or sell 46 different digital currencies, including Bitcoin, Ethereum, Neo, Golem and Dogecoin. Cryptocurrency can be stored in the digital wallet, and can also be sent to other users or used to make online purchases. Australian users can also withdraw directly to their bank accounts. According to Coinspot’s website, all funds are kept in escrow, and the company utilises independently-audited third party data centres and a multi-factor identification process. CoinSpot is a member of ADCCA, the Australian Digital Currency and Commerce Association. The company is also compliant with AUSTRAC, Australia’s counter-terrorism anti-money and laundering financing regulator. Support is available via the Help Centre and Knowledgebase.

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35 user reviews

“Very happy so far”
Reviewed

Instant verification, instant deposit (no fees), can buy and sell instantly. Trading fee is 0.1% on market which use for big coins like BTC/ETH. 1% for instant buy/sell, which is ok considering so many coins offered. Easy compared to sending to binance and have to take so long.
Security seem very good, feel safe to keep my coins here. Support very Show more

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“My money has now been recovered”
Reviewed

It has been hard losing a lot of money to Binary Options and Cryptocurrency Trading, my money has now been recovered thanks to a Recovery Boss. You can reach me to share my experience.

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“I was also scammed but recovered everything”
Reviewed

It has been hard losing a lot of money to binary options and Cryptocurrency trading. My money has now been recovered, thanks to a recovery boss.

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“An absolute breeze”
Reviewed

CoinSpot has been an excellent exchange for me and over the last year or so they have really improved their platform by reducing fees and improving usability of the site, buying crypto is easy and there are multiple ways you can fund your account, great security with two factor authentication, overall a great platform, read my full review at: https://2040wealth.blogspot.com/2017/09/the-easiest-way-to-buy-cryptocurrency.html

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“Terrible! I should have read the reviews first... Do NOT use Coinspot!”
Reviewed

The fees - BAD
The security - BAD
The delay in sending emails - BAD
They hold onto your coins and the non-automated backend of the website means everything is done by a guy called Russ Wilson from Berwick in Canberra who charges ridiculously high fees YET CANT EVEN GET VERIFICATION EMAILS SENT!

I waited all night to move my Bitcoins AWAY from CoinSpot Show more

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“How Ironic? Coin Spot is..”
Reviewed

I was using Coinspot for a while as there are no other providers that offer a similar service in Australia with a range of coins. Unfortunately though, Coinsport is ripping me off by having the following practices against the whole Block chain technology:
1. Having a massive difference in Sell and Buy rate.
2. When you sell, the amount they credit Show more

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“Terrible. Do not trade with them!”
Reviewed

Make trades with your bitcoin at prices you never apply and when you call them out on it ,they deny any fault. Sent screenshot to confirm mistake and still no help from support. Easy to set up and use, but too slow to keep up with market trends!

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“Definitely Do Not Recommend”
Reviewed

The site has many coins, but their market is for the Crypto ignorant and misinformed. They charge a massive fee, their buy and sell price is waaaay off from the actual market price. To make it all worse, the more you spend on a transaction the more they charge you because and I quote "to accommodate for the additional depth Show more

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“Disapointed”
Reviewed

The general use of coinspot is quite easy and usually works right. Unfortunately they recently set up a pegged system which doesn't work, there appears to be a major issue with their coding. I set an order to buy btc at market price -2% when btc was floating around 9000 AUD. My order processed with a purchase price of over Show more

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“Clean and modern platform”
Reviewed

Easy to use, clean and modern. The approval process took a few days though, but once i was approved it was great to use.

My only suggestion would be that more coins should be added quicker.

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CoinSpot features

  • Bitcoin
  • Ethereum
  • Litecoin
  • Monero
  • Email ticket support
  • Ardor
  • Augur
  • Basic Attention Token
  • Bitcoin Cash
  • Bytecoin
  • Civic
  • Dash
  • DigiByte
  • Dogecoin
  • EOS
  • Ethereum Classic
  • Factom
  • FunFair
  • Golem
  • IOTA
  • LBRY Credits
  • Lisk
  • MaidSafeCoin
  • Metal
  • NEM
  • Neo (AntShares)
  • Nexus
  • Nxt
  • OmiseGO
  • Peercoin
  • PIVX
  • Reddcoin
  • Ripple
  • Safe Exchange Coin
  • Siacoin
  • Steem
  • Stellar
  • Stratis
  • TenX
  • Tether USD
  • Verge
  • Waves
  • Buy
  • Sell

Official description provided by CoinSpot

Founded in 2013, CoinSpot is one of Australia’s leading exchanges with the largest selection of blockchain assets of any Australian Exchange.

CoinSpot prides itself as a leader in the digital currency market and aims to provide superior customer service. CoinSpot has revolutionised the digital currency market by providing a secure platform which aims to break down the technical barriers enabling a greater range of Australians to experience digital currencies.

CoinSpot promotes a strong digital currency community with an aim to expand and broaden the acceptance of blockchain assets in an aim to gain greater acceptance in Australia.

CoinSpot provides customers with the largest Show more

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