CoinSpot Vs. Coinbase - Which One Should You Use?
When it comes to buying cryptocurrencies, you know doubt know by now that there’s a huge amount of exchanges available to get your hands on some. But which of those exchanges offer the best service, reliability and features? Two of the most popular exchanges that Aussies like to buy from are CoinSpot and Coinbase.
In this article, we’ll put them head to head and see which exchange comes out on top.
In a rush and want to know the best exchange for Australians to buy cryptocurrencies? CoinSpot is our pick. Sign up by clicking the button below.
CoinSpot or Coinbase?
CoinSpot
CoinSpot is an exchange that was founded, as is still run in, Melbourne, Australia in 2013. The company prides itself on being Australia’s most popular crypto exchange.
Coinbase
Coinbase was founded by Brian Armstrong and Fred Ehrsam in June 2012. The exchanges headquarters are in California, USA and it operates in as many as 190 countries
The Features Compared
Both CoinSpot and Coinbase offer a similar amount of features. Both of the exchanges make it really easy for new comers to crypto to purchase cryptocurrency, but they also offer slightly more advanced versions of their exchanges for people who have a bit more experience with trading. For Coinbase, this is offered under “Coinbase Pro”, while for CoinSpot, it’s offered under the “Markets” section. At the time of writing, CoinSpot offers the advanced trading option for the following pairs:
- BTC/AUD
- LTC/AUD
- DOGE/AUD
- ETH/AUD
- NEO/AUD
- GAS/AUD
- POWR/AUD
- XRP/AUD
- TRX/AUD
One great feature that CoinSpot has that we are particularly fond of is the dashboard. In your dashboard, among your waller overview, you will be able to see the “biggest movers” and “what people are buying right now” sections. The biggest movers section gives a quick overview of the top 6 biggest gainers (percentage wise) over the past hour. The “what people are buying right now” section is pretty self explanatory, but is the top 4 most popular coins on CoinSpot at the present time.
Amount of Coins
The clear winner here for the amount of coins available to purchase is CoinSpot. CoinSpot currently lists over 100 (!) cryptocurrencies that you can purchase instantly with Australian dollars – and they regularly add more – normally after listening to what their users recommend. This is a great testament to their customer service. For a full list of the coins, you can check them out on our CoinSpot review page. Coinbase on the other hand currently only have 9 digital assets (cryptocurrencies) available to buy. These are:
- Bitcoin
- Ethereum
- Ethereum Classic
- Litecoin
- Bitcoin Cash
- USD Coin
- Basic Attention Token
- 0x
They do strangely have a list of about 40 coins *not* available on Coinbase which you can view on their webste. We’re not sure why they have this list – it could be a sign of what coins they are considering to add in the future.
Support
Both Coinbase and CoinSpot have excellent FAQ/help article sections which are divided up into sections to help you with everything from account management, to buying and selling, to sending and storing your coins. 99% of your support issues should be able to be solved by finding your query in these sections.
For anything else that you might need, both exchanges allow you to submit support requests. When we had to send off a support request to CoinSpot, the response was super speedy – within the hour! You can also contact them via their Facebook page – the response there will be almost instant.
CoinSpot or Coinbase – Which is Better?
Ultimately, it comes down to personal preference. We recommend signing up to both and seeing which one you like best. But for us, the winner is CoinSpot, in fact we even rated them our number one exchange out of all of the exchanges available to Australians.
The reason is simple: they offer a huge amount of altcoins that you can buy directly with Australian dollars, which means you don’t have to mess around with buying BTC, then sending that to another exchange to buy your altcoins.
Their support is second to none, and finally, they’re an Aussie company, which means more money stays in Australia and they’re employing Australian people.