This wide range of features makes them the most versatile crypto exchange in Australia for investors interested in different aspects of the digital asset ecosystem. Continue reading our CoinSpot Review to find out why we believe they are Australia’s best crypto trading platform.
What is CoinSpot?
CoinSpot has built its brand and dominance in the Australian cryptocurrency market by taking a “customer-first approach”. They have been the best crypto exchange in Australia to adapt to the fast-paced environment of Crypto and have constantly shipped new features and products across DeFi, NFTs and staking.
To provide a high-level overview, we have listed some of the key features of the CoinSpot platform below:
- Over 370 Cryptos and adding new coins every week.
- Crypto Earn feature that allows users to stake and earn interest on 30+ assets.
- The largest NFT Marketplace in Australia with the best collections from OpenSea.
- The only exchange in Australia to offer an NFT Wallet.
- The lowest trading fees which start at 0.1%.
- White glove service for institutional investors and high-net-worth customers.
- Founded in 2013 and is the longest-running exchange in Australia.
One of the major advantages of CoinSpot is its flexible and transparent fee schedule. The platform offers two trading types, Market Order and Instant Buy.
The Market Orders are tailored for advanced users and only charge a 0.1% fee. The Instant Buy feature is for beginners and is very easy to use, but charges a 1% fee. That said, the user experience does ensure that customers cannot make mistakes when placing manual orders on the order book – which is why it is slightly more expensive.
The CoinSpot trading platform supports over 370 cryptocurrencies, which is one of the most impressive selections in Australia. They are the best crypto exchange in Australia for altcoins because they are constantly adding new assets, so investors can expect this number to grow in the future.
The list of supported cryptocurrencies includes all of the major smart contract platforms like Ethereum, Solana, Avalanche, Optimism, Polygon and others. They also list all of the newest DeFi, Metaverse and GameFi tokens regularly such as ApeCoin (APE), Decentraland (MANA), LooksRare (LOOKS) and many others.
Is CoinSpot Safe?
Yes – CoinSpot is a safe cryptocurrency exchange in Australia because they are licensed and regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). CoinSpot PTY LTD is also a registered company under ASIC.
The founder of CoinSpot is named Russell Wilson who has amassed an incredible net worth due to being the only owner of the business.
CoinSpot NFT Marketplace
CoinSpot is the first Australian exchange to launch an NFT marketplace. The CoinSpot NFT marketplace hosts some of the best collections on OpenSea including Bored Ape Yacht Club (BAYC), Cool Cats, Azuki, Invisible Friends, Tubby Cats, Meebits and others.
Unlike OpenSea and other on-chain NFT Marketplaces, CoinSpot allows you to buy NFTs with any of the 370 cryptos on their platform. This means you could buy a Bored Ape NFT with a currency that is not ETH, such as Bitcoin, USDC, SOL, USDT or AVAX.
Their platform also offers crypto staking for over 30 different assets including Bitcoin, Ethereum, Solana, Cosmos, KAVA, Polkadot, Algorand and even stablecoins like USDC or USDT. With CoinSpot, investors can get up to 76% APY paid out daily for staking their assets on their exchange.
The Bottom Line
Overall, CoinSpot is the clear powerhouse for cryptocurrency trading in Australia. They are the only digital asset platform that offers the full suite of features, which makes it easy for new investors that don’t have to jump around to different applications.
CoinSpot has the most assets, the best NFT marketplace, staking features and flexible fees that are difficult to beat. For these reasons, we believe that they will continue to dominate the Aussie crypto space for years to come.