If you are a new investor looking to buy Bitcoin in Australia or Cryptocurrency in Australia, you may have come across the popular exchange CoinSpot. Founded in 2013, CoinSpot has grown to become Australia’s largest exchange with over 1 million users in Australia only.
Their platform offers a wide range of features which include instant buys, market buys, SMSF crypto investing and OTC transactions with low fees for over 250 different cryptocurrencies.
A quick summary of CoinSpots fees across all of their trading options.
Compared to other exchanges in Australia, CoinSpot is actually a relatively cheap exchange with fees starting as low as 0.1% on their Market Buy feature.
Below we breakdown the two main ways you can trade using the CoinSpot exchange.
The most popular feature on CoinSpot is their instant-buy exchange, which enables users to instantly buy or sell over 250 cryptocurrencies for a 1% fee.
Although this seems expensive, it is still cheaper than SwyftX for example who have a 0.6% fee to deposit AUD into the platform and then another 0.6% fee to trade.
The other way to trade on CoinSpot is through their 'Market Order' feature, which is a 0.1% fee. If you find that the liquidity is not deep enough to purchase Bitcoin, Ethereum, Dogecoin or any other cryptocurrency on CoinSpot's Market Order feature, you can always use their Crypto OTC Desk.
CoinSpot OTC trading allows users to buy and sell over $50,000 in any cryptocurrency with better fees and less slippage. The CoinSpot OTC fees are 0.1% in accordance with their fee schedule.
Overall, CoinSpot is a trustworthy exchange for new users to start investing in a wide range of digital assets. It has the best user-interface and mobile app in Australia and is a fantastic option for new users.
Many people try to compare Binance vs CoinSpot, but in our view CoinSpot is the better and more secure option due to them being located and regulated in Australia.
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