Coinspot is one of the largest exchanges available for Australians, not only one of the largest but the one that has the most available coins out of all the exchanges in Australia. This Coinspot review will be intended to show the strong points and the weak points of this great exchange.
Coinspot was founded in 2013 after the founders realised there was no easily accessible exchange that Australians could use without having to use exchanges in United States. After Coinspot was founded it didn’t take long for it to become one of the leaders in Australian exchanges and still to this day it has the biggest range of big and small coins.
WHY SHOULD I USE COINSPOT?
In this section of this Coinspot review we will talk about the benefits of using this exchange. The main point to address about Coinspot is the effective and simple way to add or retrieve fund to your account, they use a method called POLi Payments.
POLi Payments are great if you live in Australia because this method lets you take money straight from your bank account and into the Coinspot wallet instantaneously! This way if you ever feel like you need to buy and on a dip and you have no founds, you won’t miss out on the rise.
Coinspot also amounts to the most coins, making it accessible to buy and sell many of the coins you would not even find on US exchanges. Not only is it easy but very secure, you can ask any of the members of Coinspot. Joining Coinspot is a feat because of the great extent they have taken to make it as a secure as possible; you have to do what you do in other exchanges plus extra ones like take pictures of you with a code that gets approved by people instead of an AI.
THINGS THAT MIGHT LET YOU DOWN
Not everything in this Coinspot review is good; we want to let you know both the good and bad.
There is one thing that can be a bit frustrating is the fee that you receive every time you create a transaction, this fee may be more than other exchanges but even with this bad point; coinspot is still the best exchange to use for Australians. If you want to read more about the fee, you can find all the details on their website.
There have been a couple of times where POLi Payments have been removed due to problems with the Australian government, they get around this by going to the bank to make instantaneous transfers or using your BPAY to transfer the money in an ETA of 3 days. This doesn’t happen often but it’s the only other bad point about Coinspot.
WHY IS IT THE BEST?
Coinspot, despite having some bad points, is still the best exchange to use for Australians. It provides very secure and easy to do payments.
When using Coinspot, you will see the comfortable website design. This makes it simple for anyone to start trading making this platform great for beginners or experts.