CoinSpot Review – Score a Bonus with our Referral Code
If you’re looking to get started with cryptocurrency trading in Australia, CoinSpot is one of the most popular and trusted platforms available. With a wide selection of coins, competitive fees, and robust security features, it’s a great choice for both beginners and experienced traders.
But what if you could save even more on your trades? In this CoinSpot referral code review, we’ll explore how you can take advantage of exclusive discounts and promotions through referral codes. Whether you’re new to crypto or looking to make the most of your trading experience, our review will help you maximize the benefits of using CoinSpot’s referral program.
Read on to discover how you can join more than 2 million people in Australia buying, selling, and swapping cryptocurrencies on the Coinspot platform.
Coinspot referral code: How to use it
To register with our unique CoinSpot referral code, you’ll need to follow these steps:
Step 1: Sign up using our CoinSpot link.
Step 2: Activate and verify your account by entering personal information including a valid Government ID. Once this has been done, you’ll receive a verification email that contains further instructions on how to deposit AUD$.
Step 3: Make a deposit. CoinSpot offers many AUD deposit options. This includes PayTo, BPay, POLi payments, and direct deposit from your bank account.
Disclaimer: We may receive a commission when you sign up using a link in this article. Cryptocurrency trading has potential risks involved and it may not be suitable for all people. This article constitutes general information only. Before deciding to invest, you should seek independent financial or professional advice to ensure that CoinSpot is right for you.
Who is CoinSpot designed for?
CoinSpot is designed for Australians who want to invest in Bitcoin and other cryptocurrencies, and who want the assurances and safety of using a local, fully regulated platform.
If you are new to the world of cryptocurrency, CoinSpot makes it easy to buy your first coins. You can use Australian dollars to purchase coins, with the most popular option being Bitcoin.
More experienced traders will also benefit from using CoinSpot, although the functionality may not be considered as advanced as some other platforms.
Is CoinSpot safe and trustworthy?
CoinSpot is widely considered to be a safe and trustworthy cryptocurrency exchange. Let’s take a look at the key reasons why:
Established, legitimate and local: The website and mobile app for IOS and Android is owned by Casey Block Services Pty Ltd, trading as CoinSpot. The company has been operating in Australia since 2013 and it is headquartered in Melbourne.
QA and industry codes: CoinSpot was the first Australian-based crypto exchange to achieve accreditation with an ISO 27001 certification. The ISO 27001 certification is highly sought after and difficult to achieve. By meeting this certification, CoinSpot demonstrates that information security management systems meet the highest global standards.
CoinSpot is also certified with Blockchain Australia and Sci Qual, binding the company to industry codes of conduct.
Verification: CoinSpot offers a rigorous verification process at sign-up, and when users wish to increase deposit limits above AUD 2,000 per day. This includes initial verification of a Passport or Driver Licence and ‘Know Your Customer’ (KYC) procedures to collect and verify a customer’s identity.
Account security: CoinSpot offers a variety of sophisticated account security settings. This includes Two-Factor Authentication, customer withdrawal limitations, and session time limit restrictions.
CoinSpot Wallet
When you first create an account, you’ll be required to set up a Wallet. This is where you will store your cryptocurrencies.
The CoinSpot wallet is a secure, multi-currency online platform that allows you to store, send and receive supported cryptocurrencies. It’s simple to use and offers a variety of features to enhance your user experience.
Track your wallet balances, make purchases, exchange into other coins or tokens on the platform and get a history of your most recent transactions all from one place.
For assistance with the CoinSpot Wallet, you can contact the customer service team 24 hours a day, seven days a week.
CoinSpot mobile app
The CoinSpot mobile app is available on the iPhone App Store and Google Play. Whether you’re a beginner or a trading pro, it’s a quick, easy way to trade cryptocurrencies on the go.
The CoinSpot mobile app also offers many of the same features as the online platform, including:
- view your account balance and transactions
- buy or sell cryptocurrencies
- send and receive supported cryptocurrencies
- access real-time market data
- view your holdings and their value in AUD or BTC (Bitcoin)
The CoinSpot app also offers unique functions not available elsewhere, such as push notifications about account activity.
CoinSpot fees and charges
When you sell or buy Bitcoin, you will be charged a fee.
Trading fees
CoinSpot offers some of the lowest fees for Australian traders, with costs starting at 0.1 per cent and no hidden charges. A 1% charge applies to instant purchases and sales. Take profit, stop loss, and recurring transactions all have a 1% price tag attached. We’ve summarised the trading fees in the table below:
| Trading Activity | Fee |
|---|---|
| Market Orders | 0.10% |
| OTC | 0.10% |
| Instant Buy, Sell & Swap | 1% |
| Take Profit, Stop & Limit Orders | 1% |
| Recurring Buy | 1% |
Deposit and withdrawal fees
CoinSpot offers a range of free and instant AUD deposit methods, including PayID, Direct Deposit & POLi payments. BPAY and cash deposits are also possible via the Blueshyft network of 1,500+ sites, however, these methods do attract a fee:
| Deposit and withdrawal activity | Fee |
|---|---|
| POLi, PayID, Direct Deposits | Free |
| PayPal | 0.50% |
| Card | 1.88% |
| Withdraw AUD | Free |
When sending funds to an external wallet outside CoinSpot, you will be charged a transaction fee on CoinSpot. The cost varies per coin depending on network demand and activity. The current fee is always displayed on the CoinSpot website.
CoinSpot fees and charges set out in this article are subject to change at any time.
Key CoinSpot features
If you’re looking for a no-hassle, low-cost, and efficient service that is reliable and stable, CoinSpot might suit your needs. Here are some of the features that stand out:
Regulatory adherence: CoinSpot works with AUSTRAC and ASIC to counter money laundering, along with adhering to Blockchain Australia industry guidelines
A wide range of cryptocurrencies: Cryptocurrencies and NFTs are offered, so you can buy the coins you want without being limited to just one or two options.
Fast transactions: Because CoinSpot is based in Australia, it offers quick transaction times and instant buy for Australian users.
Security features: CoinSpot has a variety of security features in place, including a two-factor authentication code and advanced KYC processes to verify accounts
Competitive fee structure: CoinSpot charges a fee of just 0.10% for market orders. This is the most competitive fee structure of any Australian crypto exchange. The trading fees are typically significantly cheaper than competitor, Coinbase.
No hidden charges or fees: All fees and charges are set out clearly on the website
User-friendly interface: The website is easy to navigate, so beginners can quickly find the information they need about each cryptocurrency listed on the platform.
Easy verification process: The signup process using a Coinspot referral code only takes a few minutes and then you can start trading immediately once your account has been approved and verified. Additional verifications apply to trade past the $2000 AUD daily cap.
Positive reviews: CoinSpot boasts a 4.5 + out of 5 rating on both Product Review and TrustPilot, making it one of the highest-ranked cryptocurrency platforms in Australia.
Trustworthy and Australian-owned: CoinSpot, founded in 2013, is a legitimate crypto exchange that is fully owned in Australia. It boasts an excellent security record, and it takes appropriate measures to protect customer assets.
Flexible funding options: You can deposit funds using PayID (OSKO). These transactions are generally quick, so users can often enjoy instant deposits and instant buy. You may also use BPay, POLi, or even cash to add money to your account. More recently, a Coinspot Mastercard credit card has been introduced.
What cryptocurrencies can I buy on CoinSpot?
The CoinSpot exchange offers a wide variety of coins, so you can find one that suits your needs without having to worry about hidden fees or scammy exchanges.
Users can trade cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Neo, EOS, and Ripple to name a few. More recently, CoinSpot added NFTs and DeFi to their list of tradable assets.
Bitcoin and Ethereum are popular options. These coins tend to have high values and are considered by some to be easy to sell when you want to make a profit.
The following section is not intended as financial advice. Before trading cryptocurrencies, it’s important to carry out your own research before jumping in:
Bitcoin (BTC)
The original cryptocurrency, Bitcoin is the largest and most widely recognized coin, often considered a store of value and a benchmark for the entire market.
Ethereum (ETH)
Ethereum is a decentralized platform that enables smart contracts and decentralized applications (DApps), powering a range of projects within the blockchain ecosystem.
Binance Coin (BNB)
Originally used as the utility token for the Binance exchange, Binance Coin has grown into a prominent coin with diverse use cases across the Binance ecosystem.
Cardano (ADA)
Cardano is a proof-of-stake blockchain platform focused on scalability, sustainability, and interoperability, and is known for its academic approach to blockchain development.
XRP (XRP)
XRP is a digital payment protocol created by Ripple Labs, focusing on fast and low-cost cross-border payments, making it a popular choice for financial institutions.
Solana (SOL)
Known for its high-speed transactions and low fees, Solana is a fast-growing blockchain platform designed to support decentralized applications and crypto projects.
Polkadot (DOT)
Polkadot is a multi-chain blockchain platform aimed at enabling different blockchains to interoperate, making it a key player in the future of decentralized networks.
Dogecoin (DOGE)
Initially created as a joke, Dogecoin has gained a massive following due to its community and celebrity endorsements, and it’s now one of the most traded cryptocurrencies.
Litecoin (LTC)
Often referred to as “silver to Bitcoin’s gold,” Litecoin is a peer-to-peer cryptocurrency designed to offer faster transaction times and lower fees than Bitcoin.
Chainlink (LINK)
Chainlink is a decentralized oracle network that connects smart contracts with real-world data, making it essential for many blockchain applications that rely on external data sources.
How do CoinSpot bundles work?
For users who don’t wish to trade cryptocurrencies individually, A range of pre-made bundles for purchase are offered. There are many bundles to choose from on the website, including Top 3 Market Cap, Bitcoin bundle, and DeFi.
How does a bundle work? Essentially, it is a package of cryptocurrencies that can be bought in one single transaction.
A bundle might suit users looking for an easy way to diversify a portfolio. And, because multiple cryptocurrencies are being traded at once, it’s possible to save time and avoid paying multiple fees.
When you buy a bundle, each coin is instantly split and added to the balance of your account’s associated wallet. This provides convenience for users to sell or swap each asset as they choose.
Pros and cons
Like with any crypto trading platform, there are pros and cons to using the exchange. Let’s take a look at some of the key benefits and drawbacks:
Pros
- Easy verification process. The signup process for CoinSpot only takes a few minutes and then you can start trading immediately once your account has been approved.
- Good customer support. There is a responsive customer support team that is available 24/7 to help with any issues or questions you may have about the site or your account.
- Trusted and legitimate. CoinSpot is an established Australian company that meets a range of regulatory requirements and industry codes. This includes an internationally acknowledged ISO 27001 certification and full compliance with AML/CTF laws.
- Buy and sell in AUD. Unlike some other platforms, Australian users can trade in AUD. This can help to minimize foreign transaction fees and charges.
- It supports Self-Managed Super Funds (SMSF). The CoinSpot SMSF solution offers industry-leading compliance, security, and customer service.
Cons
- Only in Australia. Usage of the platform is restricted to Australians only. The platform currently only allows users to send money to Australian bank accounts.
- Limited range of cryptocurrencies. While CoinSpot boasts over 370 cryptocurrencies, this represents just a small number of the 9,000 + coins available globally.
CoinSpot customer support
CoinSpot’s experienced and knowledgeable support team is available to users. Live Chat is available to speak to real people every day and our Helpdesk Support is 24/7.
You can also start at the Help page here.
Alternatives crypto exchanges
If you’d like to explore other cryptocurrency platforms, there are a few other good options available to you. Let’s take a look at three of the best:
Coinbase: Coinbase is an American company that operates a cryptocurrency exchange platform. It is a well-known and user-friendly exchange that allows you to buy cryptocurrencies with fiat currency (USD, EUR, etc.).
Conclusion
For Australians looking to get started with cryptocurrency investments, you can start your journey here.
CoinSpot is Australia’s biggest and most trusted crypto exchange, having been founded in 2013. It provides a very large number of digital assets in Australia, with over 370 different coins available for purchase, trade, and swapping at the lowest rates starting at 0.1 percent. With full confidence in the high level of globally accepted security certifications, you can transact with ease and store your cryptocurrencies with the knowledge that they’re in safe hands.
With a user-friendly platform, buying and selling cryptocurrencies is easy – whether you’re new to crypto or an established and seasoned trader.
Most importantly, it is a legitimate, long-standing, and trusted Australian company holding an internationally acknowledged ISO 27001 certification. This allows users to buy cryptocurrencies without worrying about the platform being illegitimate or unsafe to use.
Disclaimer: Cryptocurrency trading has potential risks involved and it may not be suitable for all people. This article constitutes general information only. Before deciding to invest, you should seek independent financial or professional advice to ensure that Coinspot is right for you. This article constitutes general information only. Before deciding to invest, you should seek independent financial or professional advice.
FAQ: Coinspot Referral Code
Who owns CoinSpot Australia?
Casey Block Services Pty Ltd is the owner of CoinSpot. The company has been in operation in Australia since 2013 and it is based in Melbourne.
What customer support does CoinSpot offer?
CoinSpot provides a range of customer support options. You can reach CoinSpot through Live Chat, Email and 24/7 helpdesk support.
Which countries are supported by CoinSpot?
Currently, CoinSpot only supports users in Australia.
Does CoinSpot offer an app?
Yes, CoinSpot offers a user-friendly app for both IOS and Android.
Is CoinSpot legit?
Yes. CoinSpot is a legitimate, Australian-owned crypto trading platform.
Can I buy cryptocurrencies with my SMSF?
Yes, there are ways, but seek your own independent financial advice before jumping in, as there is significant risk involved.