🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

Video Courses
Video Courses
Scale your career with online video courses. Dive into your learning adventure!
Our Score 7.5

The world has been swept up by the immense innovation and intrigue that comes with the crypto market. For this reason, there is a huge range of exchanges and platforms that cater to specific countries and nations. So, in this CoinSpot review, I'll cover an Australian exchange.

CoinSpot is a platform that functions as a wide-ranging crypto ecosystem, offering tools for trading cryptocurrenciesbuying and selling NFTs, and even offering methods of using crypto for everyday purchases. While this industry is filled with platforms that function and operate in as many countries as possible, such as Binance and KuCoin, some projects take a more streamlined approach and limit their exposure to a specific nation.

My CoinSpot review will cover such a platform, taking a deep dive into the CoinSpot exchange, questioning “How safe is CoinSpot?” and even assessing whether CoinSpot USA support exists on any level. It's safe to say that this will act as both an overview of CoinSpot, as well as a focused examination of the areas where it thrives, and its potential shortcomings.

Verdict at a GlanceCoinSpot is a crypto exchange and ecosystem with an Australian focusIts simplicityportfolio toolsand self-directed pension funds are of particular interestand allow this platform to shineHoweverits inconsistent and high feesas well as its limitation to the Australian market, prevent it from reaching the top-rated status of many other exchanges on the market.


  • Self-Managed Super Funds (SMSFs)
  • Crypto Bundles
  • Built-in NFT marketplace
  • CoinSpot Mastercard


  • For Australian residents only
  • Considerably high fees

What is CoinSpot?

Before jumping into my CoinSpot Australia review, I want to answer the all-important question of “What is Coinspot?” This is by no means a household name in the crypto space, yet despite this, it has been making waves in the industry and building a relatively solid user base.

The Coinspot exchange and ecosystem is a platform designed for crypto users of all skill levels. It has tools for complete beginners, such as its instant swaps, as well as features that experienced and advanced members of the industry will favor, such as self-managed super funds. In other words, it does not discriminate between how it caters to newcomers and veterans alike.

CoinSpot review: homeage.

Founded in 2013 by an IT consultant and entrepreneur, Russel Wilson, CoinSpot has become one of the top exchanges with headquarters in Australia. Very little is known about the figurehead of the platform, despite its successes in the country, as Wilson rarely takes interviews or is spotted in public.

However, it appears that this has not hindered the platform’s success, as it is a major player in the country.

Latest Deal Active Right Now:

CoinSpot Review: PROS

Let’s kick off this CoinSpot review by taking a look at the strengths that the company offers. This is a natural starting point for any review, as it highlights what makes the platform so exciting and enticing to its growing user base. Naturally, this discussion will help clarify our answer to “What is CoinSpot?”.

Buy BTC, ETH, and Other Crypto With Fiat

One of the most impressive and important features to highlight in my CoinSpot review is that the company offers users the ability to buy cryptocurrency with fiat. This is a major selling point and something that many exchanges are simply unable to do.

Not only can people purchase Bitcoin and Ethereum using Australian dollars (AUD), but they can get hold of a huge range of altcoins, such as Binances BNB, XRP, Dogecoin, Solana, Theta, and Tezos.

CoinSpot review: instant buys.

It's relatively uncommon to come across exchanges that put this level of care into buying altcoins with fiat, rather than just behemoths such as Bitcoin, Ethereum, and occasionally stablecoins like USDC and USDT. Thus, it's a sign that the CoinSpot exchange is highly involved in onboarding people to the crypto space, by providing these types of on-ramps.

There's no surprise that beginners often struggle to get stuck into this market, as they find it troublesome to overcome the very first hurdle; the process of buying cryptocurrency with fiat is not exactly easy, and can feel laborious and frustrating. This gets even more complicated if somebody only has an interest in a specific altcoin, rather than a household name like Bitcoin.

CoinSpot review: instant buying and selling.

On many platforms, users need to start their process by buying a top coin like BTC or ETH, and then going through various steps to trade it in for their ideal asset. However, with the range of altcoins that the CoinSpot exchange supports fiat buying for, this step is entirely cut out. People can buy many of the coins and tokens they want without thinking about trading, or any other cumbersome and frustrating elements.

Latest Binance Coupon Found:

Perform Instant Swaps

One of the best methods of discovering whether an exchange caters to beginners is to see if it offers instant swaps and trades. This is something that definitely needs to be highlighted in my CoinSpot review. The company is clear in its support of newcomers by the fact that it offers this service on a wide array of assets that it lists.

For those who may not know what I'm talking about, instant swapping is the process of taking one asset and trading it for another using a simplified dashboard. In essence, doing this is no different from accessing a complete trading interface, with the one significant change being that it is a supremely uncluttered experience.

While many investors will appreciate a fully-fledged application (which the CoinSpot exchange also has), those who are new to crypto, often want to avoid these complexities[1].

CoinSpot review: coin and token listings.

Besides, not only can you perform these swaps with top cryptocurrencies like BTC and ETH, but you can also do it with all 410+ crypto assets listed. To give you an example, users can swap NEAR with Algorand, or even NEM with OpenAI’s Worldcoin. In other words, there is no limit when it comes to performing these trades. That's another aspect that is boasted in several CoinSpot reviews.

On top of that, the swapping process is extremely simple – just select the asset you want to swap (the one you already own) and then pick any other asset you want to swap it with (the one you would like to get). When you do thisthe CoinSpot exchange will reveal how much of the asset in question you will receive.

CoinSpot review: range of asset support.

Once you perform the swap, the assets will enter your custodial wallet. The process is so fast that it could be considered instantaneous. There are two groups of people who will benefit from this. One group is beginners who love features like this as it strips any complications from the activity.

The other group is people who want to quickly make a trade for something so that they can partake in any particular market activity that they think will swiftly happen. The speed of the process makes this element particularly desirable.

Easily Trade NFTs

Not all exchanges support in-built NFT marketplaces, making the inclusion of one deeply important to explore when it comes to my CoinSpot Australia review. NFT exchanging is very much different from crypto trading, in that you cannot divide an NFT in the same way (unless it has been designed specifically with that function in mind).

This means that CoinSpot’s NFT marketplace works more like a third party that connects NFT owners to potential buyers. In this sense, it is not dissimilar to Binances own NFT marketplace.

The platform categorizes each NFT into the name of its collection, for easy searching and discovery. For instance, if you are looking to buy a Bored Ape, you can find all of these NFTs listed on the platform with ease.

CoinSpot review: NFT marketplace.

You can even search for specific names or numbers of NFTs within the collections in question. This is great for people who may be wanting a particular NFT of which they know the issue number.

To take this one step further, the CoinSpot exchange has even enabled a filter for features. Different NFTs use a range of unique identifiers, with some being more rare than others. To be able to filter which ones you see by these features is highly impressive.

Sometimes people want to only buy NFTs that have rare elements, as these can sell for higher in the future, and also tend to have a more intriguing aesthetic. Rarity within an entire collection is not listed on the platform, but you can see a percentage of NFTs that CoinSpot lists that have these features – which can definitely help regardless.

CoinSpot review: NFT collections.

Other users may be looking for pictorial NFTs that represent themselves, so they might want to only see the ones that fit this requirement. In such a case, these users will be happy to see that they can filter multiple features at once.

However, it should be noted in this CoinSpot review that not every NFT collection is supported (Unstoppable Domains is not, for example), but there is nothing preventing the platform from adding more in the future.

Invest Long-Term with Self-Managed Super Funds (SMSFs)

By now, it should be clear within my CoinSpot review that this platform is more of an ecosystem than a simple exchange. Another element that cements this idea is that it provides self-managed super funds, or SMSFs.

These are a specific type of fund in Australia that is managed by the members themselves, rather than by a third-party trustee. SMSFs are regulated by the Australian Taxation Office (ATO) and are designed to provide retirement income for their members.

Essentially, they are a type of pension-based investment fund. They are not meant to be used as methods of investing in any short-term way, and are rather built to be accessed many years down the line. This is specifically an Australian service, which is directly tied to the way the Australian government views and handles investments.

CoinSpot review: SMSF benefits.

However, there are some equivalents to this in other countries. For instance, in the US, the closest equivalent would be a Self-Directed IRA (Individual Retirement Account) or a Self-Directed 401(k) plan. These retirement accounts allow individuals to invest in a broader range of assets than traditional IRAs or 401(k)s, which can include cryptocurrencies.

However, special scrutiny is placed on these types of investment funds, and with each country using different regulatory frameworks, which all have their own ideas about crypto, it can be hard to make truly direct comparisons. It can also be hard to find crypto services that support self-directed pension funds of any sort. For this reason, it is surprising and exciting to see CoinSpot incorporate them.

CoinSpot review: SMSF trust information.

Along with its SMSFs, it should be pointed out in my CoinSpot review that it offers easy self-auditing tools for tax seasons, and even 24/7 customer service and support. Plus, when people engage in this, they receive a copy of the trust deed, as well as additional trust beneficiary details.

Not to mention, CoinSpot has a registered Australian Business Number, and provides a registered trust name, as well as an address. This goes a long way to helping offer an answer to the question of “Is CoinSpot safe?

Diversify Your Portfolio with Crypto Bundles

Some people enjoy taking the helm with their crypto portfolios and work hard to create the perfect combination of assets, all weighted with a certain amount of money attached to them. For people who love the autonomy that comes with trading, this is highly exciting.

However, many other people want a simple method of diversifying their portfolio without having to think too hard about it.

Thankfully, the company offers pre-created portfolios for people to engage in. This is a highly impressive feature mentioned in many CoinSpot reviews, as it makes diversification much less daunting and more straightforward. The pre-created portfolios are referred to as “bundles”, and they are collections of cryptocurrencies that are connected to each other in some way.

CoinSpot review: what is a bundle?

To some extent, they are not too different from index funds that you can find on traditional stock and Forex exchanges. These are funds that lump together a range of assets, allowing traders to invest in them all with ease. However, tools like this are rarer to find in the crypto space.

CoinSpot offers a staggering 16 bundles, made up of a range of different cryptocurrencies. For people who want to invest in crypto as an overall institution, there is a top 3 market cap bundle that lets users invest in the major three cryptocurrencies based on their market cap. Besides that, there is a top 10 market cap bundle.

If you are looking for a bundle that relates to a specific topic, then there is a Web3 bundle, a gaming bundle, and even an AI bundle.

CoinSpot review: diversification with bundles.

CoinSpot also lists a gold and silver bundle. However, make no mistake, this bundle does not actually place your money directly into either asset. Rather, it places them in ERC-20 tokens that are designed to be pegged to silver and gold, by the names of AUS and AGS.

Technically, these are stablecoins, as their price is backed by a tangible asset. We typically think of stablecoins as being associated with fiat, but precious metal versions also exist. The fact that CoinSpot supports them is definitely exciting.

Spend Crypto Anywhere with CoinSpot Mastercard

This CoinSpot review would be incomplete without some discussion on its crypto card. This is a prepaid debit card that is facilitated by Mastercard. To use it, people must top it up with cryptocurrency, which they can then use to make fiat purchases online or even in physical stores. When you do this, CoinSpot will make a quick swap from the cryptocurrencies on the card to fiat.

To top it up, you can use any asset that CoinSpot supports. This means that Bitcoin and Ethereum are supported, alongside a huge range of smaller altcoins.

CoinSpot review: crypto card overview.

A physical card will be sent to you, which functions almost identically to any traditional debit card, and you can further connect it to your Apple or Google Pay. This is because it has contactless functionality, and so any phone using NFC will be compatible with it.

For added autonomy, people can choose specifically which cryptocurrencies they want the card to use first as its financial source when making payments. This means that if you own Bitcoin, Ethereum, and XRP on your CoinSpot account, you can choose which of the three you want to use for payments and purchases.

CoinSpot review: spend your crypto like cash.

Cards like this are fantastic for increasing crypto adoption, and work as a great reminder that these are not only assets to invest inbut they are oftentimes meant to be used as an alternative to traditional cash.

While many hardcore traders will only ever view crypto as an investment choice, there are tons of people who want to use crypto in a more commonplace way. Crypto cards like the one in this CoinSpot Australia review are perfect for offering this.

Compare Crypto Exchanges Side by Side With Others

Did you know?

Compare Crypto Exchanges Side by Side With Others

All Crypto Exchanges may look similar to you but they're NOT all the same!

Yes! Show me the Comparison Chart

CoinSpot Review: CONS

No matter how good a project or platform is, there is always going to be a handful of demerits. This is true of all companies, and so it must be highlighted here in my CoinSpot review.

Let’s add some balance to this discussion by exploring the faults and pitfalls that the company falls into. Just like with the pros, this will also help us answer such questions as “What is CoinSpot?” or “How safe is CoinSpot?”.

Australia-Exclusive Service

Unlike many crypto exchanges on the market, this is a service that focuses on only one region. CoinSpot is an Australian-native companydesigned to only function inside Australia.

This, therefore, means there is no CoinSpot USA support (or any other country support, for that matter). Naturally, this will disappoint many international users who are reading my CoinSpot review, as there is a wide array of features that are exciting.

CoinSpot review: Australian map.

That being said, it may not come as much of a surprise either. A major clue that this is the case can be found when looking at its SMSFs. These exist exclusively in Australia; therefore, they cannot function in another country. Plus, assessing the bundles that CoinSpot offers will reveal a specific Australia-focused portfolio optionincluding only cryptocurrencies that have Australian origin.

While it is frustrating to come across a company that does not offer its services within your own country or region, it is also deeply understandable as to why platforms like CoinSpot exist.

As the globe tries to make sense of cryptocurrency, and regulators from different regions come up with inconsistent conclusions[2]there are naturally going to be companies that are going to try to influence the regulatory landscape in the countries they're based in.

This is because they will have a greater understanding of how the country works and how it views crypto. They may also find it easier to make inroads in their own native countries as they could have greater connections at a government level and more knowledgeable lawyers.

CoinSpot review: FAQ about Australian support.

If you are disappointed by the lack of CoinSpot USA support, then there are several other cryptocurrency companies that operate here and are top-rated. This includes Coinbase, Kraken, and Bitstamp. All three are well-revered in this industry, and some consider them to be market leaders.

Relatively High Fees for Some Features

One of the biggest pain points within many CoinSpot reviews is that its fees can be somewhat inconsistent. While fees for standard spot trading are relatively competitive, the ones for instant buyssells, and swaps are frustratingly high.

These are set to 1.00%, which is arguably outlandish. This is an extremely steep rate, which makes it feel like beginners are paying a high premium for using a simplified interface.

To some extent, it can be viewed as relatively understandable if you consider that filling instant orders for obscure altcoins could be tough, as there will probably be less liquidity than top market cap assets.

CoinSpot review: fee table.

But the problem is that CoinSpot does not discriminate between these altcoins and assets like Bitcoin and Ethereum when it comes to instant swap feesThereforethis argument only half-works.

Not only this, but take profit, stop, and limit orders are also set to 1.00%, as are recurring buys. Moreover, when examining deposits and withdrawals, it becomes a mixed bag. While AUD withdrawals and direct deposits are free, cash and card deposits are 2.50% and 2.58%, respectively. These, too, are relatively uncompetitive rates.

How to Sign Up to CoinSpot?

To help contextualize and further frame my CoinSpot review, let’s take a look at how to set up an account. This is a tremendously simple process, one that is more streamlined than many other platforms on the market.

Step 1: Head to the CoinSpot homepage. In the top right, you will see a button to register. Click on it.

CoinSpot review: homepage view.

Step 2: You will now be taken to a page that asks you to create a CoinSpot account. Enter your email address and password. If you have an affiliate code, you can add it here, as well. However, this is an optional action. Then click “Create Account”.

CoinSpot review: create an account.

Step 3Your account will now be created, and you will be able to see your profile. An email will be sent to you to verify the account. However, you can actually see and use the platform to some extent before even opening this email.

CoinSpot review: account creation page.

Of course, to fully experience the features mentioned in my CoinSpot review, you will need to not only verify your email, but also perform ID verification. This acts as a method of both proving you are a real person, as well as allowing CoinSpot to access sensitive information about you, which they need to do for the purposes of KYC and AML.

Binance Review
  • A very well-known crypto exchange platform
  • More than 500 different cryptos available
  • Two-factor authentication
Main Features
  • Over 500 different cryptocurrencies available
  • Strong security
  • Small withdrawal fees
Bybit Review
  • Very low trading fees
  • Exceptional functionality
  • Mobile trading app
Main Features
  • Very competitive trading fees
  • An intuitive mobile app
  • Up to 100x leverage available
Kraken Review
  • Secure and reliable
  • Low fees
  • A good amount of fiat currencies accepted
Main Features
  • Reputable exchange
  • Multiple fiat currencies are accepted
  • Relatively low trading fees


My CoinSpot review has answered many questions, such as “What is CoinSpot?”, “is CoinSpot safe?” and “Is there CoinSpot USA support?”. Overall, this review has covered a range of areas that highlight the platforms successes and limitations. Among its greatest achievements are its streamlined instant swapsSFMS funds, and its bundles.

Of course, it also contains some glaring negativesIts lack of US or global support is disappointing, and its high fees for some features leave a stain on the platform. While it feels unlikely that CoinSpot will ever aim for a more international audience due to its laser focus on Australia, it could definitely improve its fees at some point in the future.

There is no denying that these negatives are significant, although I would argue that the positives outweigh them by a potentially wide margin. If you live in Australia, then this CoinSpot review should definitely be taken into consideration, as there are some useful tools on offer. Of course, those who are not Australian residents, may wish to look elsewhere, such as Binance or Kraken.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. M. Froehlich, C. Kobiella, A. Schmidt, et al.: 'Is it Better With Onboarding? Improving First-Time Cryptocurrency App Experiences';

2. S. Blemus: 'Law and Blockchain: A Legal Perspective on Current Regulatory Trends Worldwide'.

About Article's Experts & Analysts

By Aaron S.


Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

TOP3 Most Popular Coupon Codes



Exclusive Binance Referral Code
Rating 5.0

UP TO $30,000 BONUS

Get Bybit Referral Code Reward
Rating 5.0


On Ledger Nano S Plus 3-Pack
Rating 5.0

Leave your honest CoinSpot review

Leave your genuine opinion & help thousands of people to choose the best crypto wallet. All reviews, either positive or negative, are accepted as long as they’re honest. We do not publish biased reviews or spam. So if you want to share your experience, opinion or give advice - the scene is yours!


Does CoinSpot operate in the US?

Unlike many exchanges on the market, such as Binance and KuCoinCoinSpot has no international focus. This means it does not operate in any country other than Australia. Naturally, this means there is no CoinSpot USA support. Therefore, my CoinSpot review is designed for Australian residents only.

Can you trade NFTs on CoinSpot?

As I've highlighted in my CoinSpot review, you can buy and sell NFTs from within the platform itself. This means that people can engage in full NFT trades and swaps with ease. The company lists a wide array of NFT collections, including Bored Apes and Hashmasks. For people outside of Australia who are looking to make NFT trades, Binance also has a marketplace set up on their platform.

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.



Earn Huge Exclusive Binance Learners Rewards