CoinSpot Review
CoinSpot is one of Australia’s most trusted Bitcoin & cryptocurrency trading platforms. Cryptocurrency is now firmly part of the investing landscape. Digital exchanges and online brokers are new to the market every month. Firstly, for an introduction into cryptocurrency, have a read of How to invest in the best cryptocurrency in 2021. Next, read the following CoinSpot review into one the best cryptocurrency trading platforms on the market.
CoinSpot is one of the more well know cryptocurrency trading platforms. This online cryptocurrency exchange appeals to beginner investors for it’s easy to use platform. There are no deposit or withdrawal limits to be able to buy, sell or swap digital currencies and invest in the crypto market. The platform offers instant deposits and quick withdrawals making the investing process seamless and easy.
CoinSpot Pros and Cons
I have outlined below some of the pros and cons to investing in CoinSpot compared to other cryptocurrency trading platforms.
CoinSpot Review: Pros
- User-friendly platform that appeals to beginner investor
- Access to almost 300 cryptocurrencies
- Provides a flexible multi-coin digital wallet for storage of digital currencies
- Fees as low as 0.1%
- Buy with Australian Dollars
- Local headquarters in Melbourne, Australia
- Mobile app with Two Factor Authentication
CoinSpot Review: Cons
- Exchange rates on each digital currency may vary
- No margin trading available
- Available only in Australia
Why Invest with CoinSpot?
CoinSpot has some great features with low or no fees if you choose to use Pay ID, POLi or an Australian bank account to withdraw funds from the wallet. A user-friendly app makes it appeals to new investors with a local headquarters that is based in Australia The security of the exchange is a high factor when deciding on the type of broker to invest your money. The CoinSpot exchange is certified under the ISO27001 Standards for Information Security and Blockchain Australia’s code of conduct. This means that it is regulated to provide a high level of security and customer support for it’s users. A draw back is that this app can only be used in Australia and not for overseas investors. There is also no ability to do a margin trading for those that want to borrow funds and trade in the cryptocurrency market.
Sign up to CoinSpot
Follow these 3 easy steps to to sign up and start trading cryptocurrency with CoinSpot.
1. Register a CoinSpot Account
Firstly, you can create an accounting by inputting your email address on the home page. You will then receive a confirmation email straight to your inbox that allows the verification process to commence. You will also be asked to input a referral code. If you use this referral code, you will receive $10 of Free Bitcoin (BTC). That is after you have completed your first AUD deposit. I would also receive a small commission on the referral.
2. Verify your Identity
Secondly, you will need to verify your identity. This can be done by following the link in the email that you received. You will need to provide some personal information, however this is so you can be verified as a real users and adds to the security of the platform. You can either provide a copy of your Drivers licence or Passport for identification purposes.
3. Start Trading with Coinspot!
Once verified, you can deposit your funds to the account. Now you have your very own cryptocurrency account with the funds deposited you can start trading!
Summary of CoinSpot Review
When deciding whether to invest in any asset you should first make sure you do your own research. Make sure that the investment you choose aligns with your overall investing goals and time horizon to invest in your future. If you are wanting to compare CoinSpot to another popular cryptocurrency trading platform have a read of the Binance Review.
