One of Australia’s first cryptocurrency exchanges, CoinSpot, was founded in 2013 and has built a reputation as the safest and most trusted platform over the past decade. Despite the entry of Swyftx and other leading Australian cryptocurrency exchanges, CoinSpot remains the largest and most popular cryptocurrency platform, with over 2.5 million members. In CoinSpot review, it is rated as one of Australia’s top crypto exchanges and is the #1 choice for investors who want the ease of use and peace of mind when trading.
CoinSpot has built an extremely user-friendly platform that makes it easy for a complete newbie to buy and sell cryptocurrency directly from AUD. The interface is simple, both on the desktop website and in the mobile app. An excellent feature for new users is the 24/7 live chat support with a natural person. If you need help, the last thing you want is a bot running around in circles or an email ticket that takes days to respond to.
CoinSpot is Australia’s most trusted and audited secure crypto exchange and the first Australian exchange to achieve the coveted ISO 27001 certification. It is registered with ASIC and AUSTRAC to prevent money laundering and terrorist financing. It maintains industry best practices by securing most assets in highly secure offline locations. You don’t have to worry about CoinSpot losing or stealing your money or filing for bankruptcy like other exchanges have done in the past.
CoinSpot’s list of over 370 different cryptocurrencies is one of the broadest in Australia. You will find all the major coins like BTC, ETH, LTC, XRP, and BNB, as well as many small altcoins that you may not even have heard of or explored through CoinSpot review. CoinSpot even offers crypto interest for 21 coins so that you can grow your crypto long-term.
One of the criticisms of CoinSpot in Coinspot review is that there are no advanced markets such as derivatives trading. They focus on a user-friendly experience for new and intermediate crypto investors. If you are an experienced trader, check out Bybit or MEXC Global.
Best features of CoinSpot:
For Australians, CoinSpot is one of the best exchanges to buy cryptocurrencies due to three main reasons:
1. Security: CoinSpot is Australia’s safest and most trusted crypto exchange so that you can invest and trade with peace of mind.
2. User Friendly: As per CoinSpot review; CoinSpot has a simple interface that is easy for beginners, and deposits and withdrawals are free and easy. Even though the interface is simple, CoinSpot still includes many features experienced traders want in a crypto exchange, such as 21-coin staking and an NFT marketplace.
3. 24/7 Customer Support: You might not think about this when choosing a trading platform, but trust me. Imagine tearing your hair out trying to find contact information for an exchange because you can’t seem to deposit funds; you’ll wish you had the option to talk to customer support!
While Swyftx may appear to be a decent choice for Australian investors, this platform has plenty of red flags. We have received feedback from current Swyftx users who say their customer service is terrible. It takes a few days for them to respond to your emails, and even if you get lucky with a response, there’s no guarantee you’ll speak to an actual support team member. Hundreds of investors have claimed that their accounts are locked when they try to withdraw their funds from Swyftx. In short, while Swyftx is not a lousy crypto exchange, there are much better alternatives for Australian investors as we deduce in CoinSpot review.