CoinSpot Review 2026 - Australian Cryptocurrency Exchange
Last updated: June 2026
If you’re at all into the ever-expanding world of Cryptocurrencies, you may have come across or heard about CoinSpot – an Australian cryptocurrency exchange site that has gained some massive popularity. But with all things crypto-related, it’s best to do some research before diving in and trading and exchanging on a site without knowing too much about it.
Read our CoinSpot review where we give you an unbiased and intensive look at the exchange, what they’re all about and what they have to offer.
Basic Details
Name: CoinSpot
Product Type: Australian Cryptocurrency Exchnage
Established: Founded in December 2013, Melbourne Australia
Fiat Currencies Available: Australian Dollars (AUD)
Cryptocurrencies Available: Bitcoin, Ethereum, Solana, DOGE and 480+ more.
What is CoinSpot?
CoinSpot is an online cryptocurrency exchange that aims to make it very easy for users to buy and sell a wide range of cryptocurrency coins and tokens. CoinSpot opened its virtual doors in the first half of 2013, with the original focus being on Bitcoin trading.
Since then it has expanded and evolved to become one of Australia’s most well-known Bitcoin and crypto trading sites, offering a wide array of Cryptocurrencies with an astounding amount of features and different payment options.
The founder and director of the company is a man who goes by the name of Russell Wilson, who has remained active in the media and on internet forums speaking about the company since its inception. The fact that the founder of CoinSpot is active at all is a major point in CoinSpot’s favour – putting it ahead of cryptocurrency exchange platforms with faceless or non-existent leaders.
Creating a CoinSpot Account
Creating an account with CoinSpot is very straightforward, and it is one of CoinSpot’s very best features.
The most complicated part of the sign-up process is getting verified. To get verified you’ll need to provide CoinSpot with: your full name; Australian street address; Australian mobile phone number; a photo of some form of identification, such as a driver’s card or learner’s card; A photo of a utility bill to prove your address.
After you’ve done this, you’ll have to set up your two factor identification, which uses your email and phone number to verify your identity.
Do not be alarmed by the information that CoinSpot requests, this is the same as any large cryptocurrency exchange and is a requirement of the Australian government and their anti-money laundering laws.
This may seem like quite a lengthy process just in order to get verified, but at the end of the day this process does an excellent job in protecting the CoinSpot community against scammers and hackers so we can definitely say that it’s worth the effort – especially considering the fantastic services you’ll be provided with once your verification is complete.
Verification usually takes place within 48 hours of you submitting all your documents and photos, although in many cases it is done within a couple of hours.
Once this is complete, you’ll be able to log in to your CoinSpot account and start trading!
Buying & Selling on CoinSpot
Once you’re officially registered and verified with CoinSpot, you can start buying and selling! There are a myriad of options available, and you may want to do some research into Bitcoin and other cryptocurrencies if you’re a beginner, before you get caught up in the process of buying and selling different coins.
You can make trades at any time of the day or night – whenever suits you best.
Buying or selling is as simple as clicking on Buy/Sell in the top panel, then choosing your desired coin and entering the amount of cryptocurrency, or the amount in AUD you wish to spend.
The panel will automatically calculate the cost of the coins you wish to purchase.
For example, if you were to enter $1000 AUD, it will automatically tell you how much Ethereum you are able to afford. In this example with Ethereum costing $540.81, you would be able to purchase 1.79520321 ETH tokens.
It also works in the opposite way – if you were to enter how many ETH tokens you wish you purchase, it will automatically calculate how much that would cost in AUD.
Having internet banking will make things a whole lot easier for you in order for bank transfer transactions to take place. You have the option to store your funds in your CoinSpot account or at any time you please you can exchange your crypto funds into AUD and withdraw them into your regular bank account.
Each time you want to buy or sell, you’ll need to log in to your CoinSpot account. For this, you’ll need to enter your email address and unique password. From there you can go about buying and selling as you please.
As with any cryptocurrency exchange, it’s recommended you log out once you have finished trading.
What are the Accepted Payment Methods?
So you’re all set to make your first bank transfer deposit with CoinSpot, but how exactly? Well, CoinSpot has a great array of payment methods to choose from, and there should be something to suit everybody. CoinSpot’s payment methods include:
PayPal:
CoinSpot also allows users to deposit funds using PayPal. This is a convenient option for users who already have a PayPal account and want to make an instant AUD deposit without having to enter their bank details directly into CoinSpot.
Card Deposit:
Card deposits allow users to deposit AUD into their CoinSpot account using a debit or credit card. This payment method is powered by Stripe and deposits are processed instantly, making it a simple option for users who want to fund their account quickly and begin buying crypto straight away.
PayID:
PayID is another instant bank transfer deposit method that CoinSpot offers and uses the using the Australia wide New Payments Platform (NPP). Deposits are completely free, but you’ll have to check with your banking provider for the daily limits, as they can vary.
Direct Deposit (instant with Osko):
The direct deposit method is simply a bank transfer which you can do with your chosen online banking provider. If your bank supports Osko, then the good news is that these bank transfer deposits are instant. There are no fees using the direct deposit method to get your funds into CoinSpot.
PayTo:
PayTo is another instant deposit method available on CoinSpot. It works by creating a payment agreement between your bank account and CoinSpot, which you approve through your banking app or internet banking. Once approved, PayTo can be used for fast AUD deposits and may also be used for recurring payment arrangements through your bank.
Blueshyft Cash Deposit:
Blueshyft keeps things old school by providing an avenue for you to directly deposit cold hard cash for your online needs-in this case CoinSpot. Blueshyft has over 1,200 branches all over Australia at selected news-agencies . So chances are that there is a branch just around the corner from you.
| Payment Option | Fees | Maximum Daily Deposit | Time Until Available |
|---|---|---|---|
| PayPal | 0.5% | $10,000 AUD per 24 hours | Instant |
| Card Deposit | 1.22% | $5000 AUD per 24 hours | Instant |
| PayID | Free | Varies between banking partner | Instant |
| Direct Deposit/Osko | Free | Varies between banking partner | Instant if bank uses Osko |
| PayTo | Free | $3000 | Instant if bank uses Osko |
| Cash Deposit | 2.5% | $8000 AUD per 24 hours | Instant (once deposited at deposit location) |
While there are many exchanges that offer more payment methods than what CoinSpot provides, you can rest assured that your money is in truly safe hands with CoinSpot as they only use the very best and most secure payment methods out there to make sure you are given the very best security.
What are CoinSpot’s Best Features?
There are hundreds of Bitcoin and cryptocurrency exchange sites out there, so there must be something that makes CoinSpot special and unique in order for it to stand out from the crowd.
CoinSpot’s stand-out feature is the fact that their site is very simplistic – making it exceptionally user friendly and even those who are technologically impaired and new to all things Bitcoin and crypto can easily navigate their way through CoinSpot’s site.
Some of CoinSpot’s best features are that it is extremely easy to use, there are low fees for buying, selling and trading, there are a large amount of altcoins and cryptocurrencies available to buy and sell with Australian dollars.
CoinSpot has great customer service and is a safe and secure Bitcoin and crypto exchange.
Keeping things basic has really worked in CoinSpot’s favour as the sites of its competitors are mostly cluttered, crowded and confusing.
Of course, users will need to decide for themselves how much they want to buy and sell on the site but once that decision has been made, things really couldn’t be more straightforward – just follow the prompts, and there you have it!
Obviously, CoinSpot has some other positive features that make it great, but we’ll learn more about those as this review progresses.
What Altcoins Can You Buy and Sell?
The fact that CoinSpot offers so many currencies and altcoins on their site is definitely another stand-out feature of theirs. While they were first solely a Bitcoin exchange site they have branched out to include scores and scores of altcoins and currencies to choose from.
As far as the Australian market goes, CoinSpot definitely has the best variety out there.
They are also well-known for regularly adding new cryptos to the exchange, with several new currencies/tokens being added each month – usually at the request of users on their Facebook page.
All coins undergo major scrutiny before being added, which ensures the exchange remains free from scammy projects.
CoinSpot supports 480+ digital assets, including BTC, ETH, XRP, SOL, ADA, DOGE and many others. Check CoinSpot’s live coin list for the latest supported assets.
What are CoinSpot’s Fees?
The charges and fees that you will encounter on CoinSpot are different for different transactions, but for the most part, they are generally low.
To simplify things – when you are buying or selling instantly you can expect to pay a fee of 1%, which is quite low if we look at industry standards.
When buying and selling through CoinSpot’s Markets section, the trading fee is 0.1% per transaction.
However, not every cryptocurrency on CoinSpot is available through the Markets section, as most coins are bought and sold through CoinSpot’s Instant Buy/Sell service instead. As of June 2026, CoinSpot’s Markets page lists the following market pairs: BTC/AUD, BTC/USDT, USDT/AUD, ETH/AUD, ADA/AUD, SOL/AUD, XRP/AUD, DOGE/AUD, LTC/AUD, XLM/AUD, TRX/AUD, A/AUD, NEO/AUD, POWR/AUD, GAS/AUD and RHOC/AUD.
| Trading | Fee |
|---|---|
| Market Orders | 0.1% |
| OTC | 0.1% |
| Instant Buy, Sell & Swap | 1% |
| Take Profit, Stop & Limit Orders | 1% |
| Recurring Buy | 1% |
| AUD Deposits/Withdrawals | Fee |
|---|---|
| PayID | Free |
| Direct Deposits | Free |
| Cash | 2.5% |
| Card | 1.22% |
| Bank Withdraw AUD | Free |
| PayPal Withdraw AUD | 2% |
All in all, CoinSpot’s fees are very reasonable.
As with any exchange platform, if you or doing a lot of day-trading then the fees can add up, so you need to take that into account, but CoinSpot make everything transparent and easy to use and understand.
CoinSpot Buy & Sell Limits
CoinSpot buy and sell limits are still fairly lenient. There is no limit on the number of trades you can make, however there are limits on the amount of cryptocurrency you can buy or sell in a single transaction.
Larger cryptocurrencies such as Bitcoin and Ethereum can have buy and sell limits of up to $100,000 AUD per transaction. Other coins have varying limits, generally ranging from $100 AUD to $100,000 AUD per transaction, depending on the coin and available market liquidity.
These limits are shown inside your CoinSpot account as the “Buy Max” or “Sell Max” for each individual coin, so it is always worth checking the specific coin you are looking to buy or sell before placing a larger order.
What are the Transaction Times?
Transaction times are always a big talking point when it comes to any exchange platform. You don’t want to be waiting days or even weeks for your funds to clear – it’s online it should be instant!
AUD withdrawals from CoinSpot to your bank account will generally arrive in your bank account the next day if the withdrawal is submitted before 2pm. Withdrawals that are submitted after 2pm, will be processed the following day. Although it is not promised, many users have reported having their AUD arrive in their account instantly once confirming the withdrawal email.
Is CoinSpot Safe?
Safety and security is a major concern for all crypto users. Bitcoin and cryptocurrency scams are common, and no one wants to be the victim of one.
One of the first things that gives CoinSpot credibility is that they have been around since early 2013. They are one of Australia’s longest-running crypto exchanges and have built a strong reputation over that time.
CoinSpot also has some impressive credentials. They are registered with AUSTRAC as a Digital Currency Exchange and are required to follow Australian AML/CTF laws. CoinSpot also holds an Australian Financial Services Licence with non-cash payments authorisation, regulated by ASIC.
On the security side, CoinSpot holds ISO 27001 certification for information security and uses features such as two-factor authentication, withdrawal restrictions, session timeout settings and offline storage for the majority of customer assets.
However, users still need to take responsibility for their own account security. Keep your login details, passwords and two-factor authentication codes private, and never share them with anyone.
What is the Customer Support Like?
If you run into any trouble while using CoinSpot, don’t hesitate to contact the CoinSpot support team.
CoinSpot now offers 24/7 customer support through both Live Chat and their Help Desk. This means users can either start a live chat with CoinSpot’s locally based support team or submit a support ticket through the Help Desk if their issue requires a more detailed response.
If you feel that your issue or query may be a common one, a good idea would be to check out the many FAQs that have been answered on CoinSpot’s official Help Centre. This saves you the time of having to type out a full support request and then wait for a response.
By using the Help Centre, your issue could be resolved in an instant.
CoinSpot really does value their customers’ needs and opinions, and this is made obvious by the fact that they allow users to request new cryptocurrency projects to be added to the site.
Obviously, there needs to be quite a bit of interest shown before a coin is considered. And obviously, it will need to be researched to ensure it meets CoinSpot’s listing requirements.
If you have your own coin or token, you can also contact CoinSpot about having it listed on the platform.
Is there a CoinSpot App?
CoinSpot has recently released a app for both Android and iOS users. The app allows users to easily perform majority of the functions of the desktop site, such as: instant buys and sell, depositing and withdrawing funds, as well as an overview of all your current digital assets in the wallet section.
What are the Pros & Cons?
While we have given you a wealth of information in this article, it’s always nice to sum things up in a pros and cons list. So here they are: the best and worst aspects about CoinSpot exchange:
Pros
- Many different altcoins available to be bought and sold
- Simple and straightforward site with easy navigation
- Relatively low fees
- Many different payment methods offered
- Safe and secure site with all regulations in place
- Reliable and helpful customer support team
Cons
- Some people might consider the verification process to be a hassle
- Only available in Australia
- Transaction limitations in place for new users
- AUD is the only accepted Fiat currency
Frequently Asked Questions
How do I withdraw money from CoinSpot?
To withdraw your money (Australian Dollars) from CoinSpot, you first need to tell CoinSpot where you would like them to send your money. This is as simple as clicking on ‘Account’, then ‘Bank Details’, and then filling in the account number for where you would like your funds sent to.
Does CoinSpot have a wallet?
CoinSpot does not currently have a desktop or mobile wallet, but you are able to store your cryptocurrency on their online wallet, which you can access anytime you login. However, it is never recommended to store large amounts of crypto on any cryptocurrency exchange, even if they do have an impeccable safety history like CoinSpot does. An offline/hardware wallet is one of the safest options.
How long do CoinSpot withdrawals take?
For money withdrawals, if you make the withdrawal before midday, you can expect the money to be in your bank account the next day.
Crypto withdrawals are processed instantly, but the time it will take to arrive in the recipients address will depend on a range of factors, including the network congestion. This can make the waiting time anywhere from a minute to a few hours or more.
How do I send coins from CoinSpot?
CoinSpot make it incredibly easy to use the ‘send’ option, which will allow you to send your coins to anyone in the world. Once you have purchased your coins, click on Wallets from the top menu, then open the wallet that you wish you send coins from. Once you have opened the wallet, click Send. Enter the amount of coins you wish to send, then enter the address you wish to send to (double checking that it is correct). Next, enter your 2FA code if you have it enabled (highly recommended!), and click Send. You will need to approve the transaction via an email that CoinSpot will instantly send you – this is a security feature to ensure that it was you that made the transaction.
Has CoinSpot been hacked?
In these times when you often hear of overseas exchanges being hacked, it’s comforting to know that due to CoinSpot’s rigorous security standards they have never been hacked.
Conclusion
From this review, we can safely say that CoinSpot is definitely not a scam but rather a fantastic cryptocurrency exchange with a lot going in its favour. CoinSpot may have a few limitations and downfalls but it is the perfect platform for beginners and traders who want to keep things simple because of their straightforward navigation and simple site.
With CoinSpot you have options and options that are a significant advantage! You have options when it comes to payment and withdrawal methods, which cryptocurrencies you want to trade and if you want to do this all on your mobile or desktop.
All in all we can say that CoinSpot is an excellent choice of crypto exchange platform if you are based in Australia.