CoinSpot Referral Code – Get $10 Signup Bonus
Cryptocurrency trading has been gaining immense popularity over the past few years. The number of trading platforms has increased significantly. In Australia, Coinspot is the most famous exchange. The main reason for the unrealistic popularity is the localization of work (Australia). Still, the owners try to present their project positively and abroad (if someone is interested in it). In any case, Australians receive many more unique offers than clients from overseas do. First of all, this applies to transactions Without commissions, which significantly saves money for professionals who make transactions between accounts daily.
Coinspot cryptocurrency exchange started operating in 2014. The central office is located in Melbourne. Initially, the owners focused on the high security of digital assets, which forced local investors and traders to carry their money and work.
IMPORTANT: the Coinspot exchange allows registration not only for Australians but also for foreign traders. But every foreign client should understand that they will have to work according to Australian law principles (pay taxes).
In general, the Australian government has a positive attitude towards blockchain integration in the modern world, so crypto trading legislation is loyal.
The official Coinspot website is a modern and multifunctional cryptocurrency trading service. The light blue tones of the home page attract and make every user stay here.
To get started, traders will have to register. On the main page, press the “Register” button and fill out the form. Newbies will only have to enter a few lines of their data:
- password (twice)
- The name of the referral (from whom the new client came to the exchange) to receive a special bonus
The verification process on the Coinspot exchange is quite complicated. First, because almost all clients from Australia register here, this orientation is confusing to foreign traders.
IMPORTANT: you must go through verification to be able to replenish your account in any way, as well as withdraw funds.
To verify your identity, you will have to enter the following data:
- Full name + exact address of residence (if it is NOT Australia, we write the legal address of another state)
- indicate your phone number
- upload a scan of an identity document (passport or driver’s license) to your personal account
- Upload a photo of utility bills (this is a way to confirm the residence’s legal address)
The administration, without fail, seeks to connect two-factor authentication (connecting a phone number to which all financial transactions will be received from the Coinspot personal account).
Deposit and withdrawal of funds
You can top up your account in the Wallets section. The minimum input amount is $ 1 (the same indicator for withdrawal). Before replenishment, you should create a wallet of a particular cryptocurrency in which the user will make a payment. The process takes no more than 2-3 minutes (everything is straightforward).
IMPORTANT: the withdrawal of funds takes place in the same section.
Today, the Coinspot exchange offers more than 100 types of cryptocurrency for trading. Coinspot cannot be called a full-fledged “exchange.” It is very similar to an exchanger. To trade, go to the “Buy / Sell” section and select one of the assets (any cryptocurrency). Next, enter the required amount.
For replenishment of funds, Coinspot takes 1-3% (depending on the selected type of cryptocurrency). The transaction commission is about 1% if the transaction is closed in cryptocurrency (buy/sell for tokens). If traders use the Australian dollar, they will have to pay about 2-3% commission for the transaction.
- user assets are stored in “cold” wallets, which significantly increases the level of security
- simple and user-friendly interface
- the platform is constantly adding new types of tokens
- high level of security, a serious approach to customer verification
- the ability to work with fiat
- there is an affiliate program
- the exchange is actively developing in social networks
- Technical support responds quickly to customers
What is the negative? First, it should be noted FULL orientation to the Australian market. Users of almost any country can register on Coinspot, but only Australians receive improved conditions.
Reviews about the cryptocurrency exchange Coinspot
On the Internet, users rate the platform positively in terms of professionalism. The audience is small, so there is room for improvement. The company owners are constantly adding new types of cryptocurrencies and trying to choose successful tokens that have recently completed their ICO.
Coinspot cryptocurrency exchange is one of the rather exciting crypto trading platforms with a positive history. For traders from the CIS countries, we will naturally recommend other platforms. Still, if you desire to try an exchange with little liquidity and are focused on the Australian dollar, Coinspot FULLY meets such requirements.