About Coinspot Cryptocurrency
Coinspot Cryptocurrency is headquartered in Melbourne and was founded by Russell Wilson in 2013 as one of Australia’s earliest cryptocurrency exchanges. As it grew it continued its mission of offering the most complete list of cryptocurrencies in Australia, and it now has hundreds of different coins available.
CoinSpot is a crypto exchange from Australia. They are one of the leading Australian gateway companies into the crypto world, meaning that they allow the purchase of crypto with fiat currency. The exchange was founded in Melbourne 2013. They are a member of ADCA – the Australian Digital Commerce Association.
|Exchange Name||Coinspot Cryptocurrency|
How To Start With Coinspot Cryptocurrency
To Start Trading With Coinspot Cryptocurrency Indian Residents First Have To Sign Up For An Account By Following The Steps Below.
Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Coinspot Cryptocurrency Website.
Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.
Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.
Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.
Step 5. Click On The “Confirm Email” Link In The Activation Email.
Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Coinspot Cryptocurrency Account.
CoinSpot Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Instead, they charge a “flat fee” of 0.10%. This means that both takers and makers in a deal pay 0.10% in fees. 0.10% in trading fees is below the industry average (arguably around 0.25%) and thus a competitive advantage for CoinSpot.
CoinSpot also offers an instant buying and selling feature. This feature allows the users of the platform to sell any cryptocurrency available into any other cryptocurrency available. For example, XRP into TRX in one single transaction. The instant buy & sell function has a trading fee of 1.00%.
CoinSpot Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy a house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
CoinSpot, however, only charges the network fees when you withdraw cryptocurrencies. This is a strong competitive edge in the market and distinguishes CoinSpot from most other top crypto exchanges.
This trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card. As wire transfers are permitted, this exchange qualifies as an “entry-level exchange”. Entry-level exchanges are exchanges which make it possible for new cryptocurrency investors to take their first steps into the cryptocurrency world.
You can wire transfer through POLi payments or PAYID instant AUD deposits (no fee is charged by the exchange or the relevant payment service provider for these deposits), through BPAY payments (0.90% fee is charged by the payment service provider) or through Cash payments (2.00% fee is charged by the payment service provider). BPAY payments are processed three times per day.
Special Features Of CoinSpot
Deposit and trade directly from your CoinSpot account using AUD.
Knowledgeable Support Team.
Friendly local support team equipped to help you every step of the way.
Store, receive, and send tokens or coins available on CoinSpot.
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