CoinSpot vs. Crypto.com 2023
CoinSpot is the largest cryptocurrency exchange, with more than 2 million users. Crypto.com is a well-known cryptocurrency application that is growing rapidly.
For an Australian user, which one is the best choice to your needs? I’ve reviewed both platforms in depth for you, so that you can make your own decision. But I found out that CoinSpot is the best overall crypto exchange in this comparison.
The best part about CoinSpot is that it is an Australian-based exchange. This means, it services is best suited for Aussie crypto traders out there. However, Crypto.com offers some amazing features as well that you might be interested in. So, see for yourself which one is the best for your needs!
Table of Contents
CoinSpot vs. Crypto.com Comparison Table
|Trading Fees||Instant buy: 1%, Market: 0.1%||Included in spread|
|Deposit Fee||POLi, Bank transfer, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5%||PayID, BPAY: $0, |
Credit/Debit card: 3.50%
|Payment Methods||Bank transfer, OSKO, Cash Deposit, BPAY, POLi, PayID||PayID, BPAY, Debit/Credit card|
CoinSpot Pros and Cons
- An established track record as an honest company
- A wide range of cryptocurrency options to make instant purchases and sales
- Beginner-friendly design
- Rapid withdrawals and deposits
- NFT market available
- Cold storage is used to keep the company’s and user’s funds inaccessible
- AUD withdrawals and deposits only
- There is no option for credit or debit card deposits
- Costs for purchase in a flash
Crypto.com Pros and Cons
- Has 250+ crypto with staking available on 40+ crypto
- Easy and fast lending and borrowing of crypto
- Offers derivatives and margin trading
- Insurance cover on cryptocurrency
- Crypto.com’s Visa debit card comes with 5% cashback
- Desktop website is limited to trading with only BTC, USDC, USDT, and CRO
CoinSpot is a great choice for an easy-to-use exchange for the common Aussie to access on the latest crypto. This is the main reason they have such a large number of users (over 2.5 million). The 24/7 Live Chat customer service is extremely responsive and helpful as well, and if you’d rather, you can contact them via email. CoinSpot also provides other services including the NFT marketplace, and the option of staking upon 21 coin.
Crypto.com offers a variety of excellent features, including investing for interest in crypto however, the one thing that is causing everybody hopping on board with this app is its free Visa debit card. The card is the Visa debit card for every time you stake at least $500 in Crypto.com’s token, known as CRO. The card you are issued is contingent on the amount you put in, however there are a lot of great advantages with this card, including up to 5 percent cashback on CRO on every purchase, 100% return for Spotify and Netflix and 10% cashback for Airbnb and Expedia as well as access to lounges at airports.
The Crypto.com application has attracted the attention of everyone thanks to their no-cost Visa debit card. Since November 20, 2021, it has been made available to Australian users, which allows users to earn free crypto each when they make a purchase using the card. It is possible to put up 47 different currencies in the app, is another great benefit for those looking to make to invest in crypto for the long term.
CoinSpot offers a wide range of coins – it’s one of the largest of any Australian crypto exchanges with more than 360 cryptocurrencies.
Crypto.com also offers a large quantity of coins. over 250 different crypto currencies.
CoinSpot offers more than 360 coins, compared to Crypto.com and has more than 250 coins. Although Crypto.com’s collection isn’t abysmal, CoinSpot has over 50 percent more coins to choose from.
CoinSpot offers a variety of deposit options that are completely cost-free: POLi, PayID, OSKO. If you wish to pay using BPAY it’s 0.9 percent, or 2.5 percent with cash deposits. The withdrawals of AUD are not charged. Instantly buy or sell crypto costs 1cent, however when you make a trade on the market it’s only 0.1 percent. Be aware that there are only 14 coins accessible for trading with on market.
Crypto.com doesn’t charge fees for deposits made with BPAY or PayID. If you’re looking to purchase crypto using a credit card or debit card, there’s a charge of 3.50 percent, but they’ll waive it you make a deposit within your first thirty days that your account is open. Making withdrawals of AUD through Crypto.com will not cost you anything. Regarding fees for trading, Crypto.com does not charge any commissions, however the fees they charge are part of their larger spread. It is the spread between stated price of purchase and sale for each coin.
Crypto.com offers lower rates for trading than CoinSpot. There are no deposits fees when you use BPAY or PayID and no withdrawal fees from the account of your Australian savings account.
The Live Chat feature of CoinSpot lets you contact customer support quickly. If you happen to encounter issues you can reach the customer support team they are competent, responsive, and skilled in solving customer problems.
You can also reach the support team through our Help Desk 24/7. CoinSpot’s support personnel will get in touch with you to help identify your problems and resolve them typically within 24 hours.
In addition, CoinSpot has a comprehensive guide to information that includes enlightening tutorials for beginners as well as an frequently asked questions section to aid new investors in getting Bitcoin as well as other currencies that are digital.
Support for customers is available through an email, a help page or live chat. However, as of this making this post, Crypto.com does not offer telephone support. Although customer support is available via email and live chat numerous customers have complained about slow response times and the absence of prompt support for problems with their accounts.
It is without doubt that CoinSpot is superior to Crypto.com in terms of customer support and support, and that is the reason why CoinSpot gains the trust of a substantial number of users.
CoinSpot allows for a variety of deposit options, such as Direct Deposit, PayID, POLi and cryptocurrency. BPAY (0.9 fee of.9%) as well as cash deposits made through BlueShyft (2.5 percent) can also be made to customers to deposit funds.
You can fund the balance of your Crypto.com account by depositing any cryptocurrency you already have, or by making deposits in Singapore Dollar (SGD) via third-party payment processors, such as Xfers or IBAN or depositing USD in USDC via your multi-currency account into the Crypto.com wallet. For Australian customers, AUD cannot be deposited using PayID, debit/credit cards and the BPAY payment method for trading.
CoinSpot offers a variety of deposit options that are suitable for Australian traders. With additional instant and free deposit options, CoinSpot is the winner. While Crypto.com accepts debit and credit cards but it comes at a price of a high cost.
CoinSpot has become the standard in protection within the Australian cryptocurrency market. It is regarded as the most reliable, secure and audited cryptocurrency marketplace in Australia. It is the only exchange to have ISO 27001 certification, and is a member of Blockchain Australia. It utilizes 2FA logins for logins, geo-locking, and anti-phishing codes and also stores the vast majority of its cryptocurrency as cold storage.
Crypto.com is another reputable and secure cryptocurrency exchange that keeps all cryptocurrency used by users off-line in cold storage employing Ledger Vault’s institution-grade custody. The funds they store inside hot wallets represent corporate funds that are used to process every day withdrawal requests from customers. In the year 2020, Crypto.com was awarded the ISO/IEC 27701 certification for 2019, being the first cryptocurrency company in the world to obtain this accreditation.
Crypto.com also offers insurance for cryptocurrency of $750 million, which protects their customers against physical damage or destruction as well as third-party theft.
Security Winner: Tie
CoinSpot is definitely the top choice in our test. If you have any issues, you can call their knowledgeable customer service at any time. If you need assistance with an exchange, you can contact live support via live chat feature or Help Desk. CoinSpot offers an intuitive interface for users that even the least skilled user can use. CoinSpot’s users are able to trade a variety of currencies with the highest levels of security. This makes it a perfect choice for traders and investors both in Australia and around the world.
Frequently Asked Questions
Is CoinSpot Regulated In Australia?
Crypto-currency exchanges are considered legal entities in Australia and are required to comply in accordance with Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF 2006). CoinSpot is a seasoned player in the industry, CoinSpot operates in full conformity with Australian laws.
What kinds of NFTs are offered on CoinSpot?
CoinSpot isn’t very closely linked with CoinSpot isn’t closely linked to DeFi part of the cryptocurrency world , but it does have a selection of the hugely popular art tokens known as NFTs. You can locate about twenty NFT collection on sale on CoinSpot which includes Decentraland (MANA), ApeCoin (APE) along with Sandbox (SAND)
Are CoinSpot the best exchange to purchase Bitcoin?
It depends. CoinSpot is always the preferred option for Bitcoin transactions (and trading generally) for those who require the assurance of the services they utilize. Its attractive design and a highly efficient customer service which make CoinSpot among the most reliable Australian exchanges. If you’re an Bitcoin trading day-to-day, you might want to look for a less expensive and more diverse option.
How do I withdraw my money through CoinSpot?
To withdraw funds from CoinSpot it is necessary to trade them to fiat. It’s as easy as buying. All you need to do is click the Sell tab, type in the amount of cryptocurrency you wish to withdraw, then enter the bank details required. The exchange will calculate immediately the exchange rate at the moment and deposit the cash into your bank account once you’ve confirmed the transaction.
What are the acceptable payment methods on CoinSpot?
In a nutshell, nearly every thing you can think of as a legitimate payment method across Australia other than credit and debit card, ApplePay and PayPal. Its CoinSpot list of payment options that are accepted includes cash deposits, bank transfer (Blueshyft), BPAY, Osko, POLi, PayID and, of course cryptocurrency.
What exactly is Crypto making?
Crypto Earn is an Crypto.com product which allows users to earn money from their cryptocurrency. In particular, by depositing cryptos, Crypto.com clients may earn up to 8 percent (this can be increased to 14% for deposits of in stable currencies) of interest that is paid every week.
Does Crypto.com have an account?
Yes. This platform has an uncustodial Crypto.com wallet that is available as an individual application. It’s important to know that when you use this wallet to hold your digital assets, you’ll remain solely accountable for the private keys.
Which countries are covered by Crypto.com?
The company is based with its headquarters in Hong Kong, the Crypto.com trading platform is available to residents in Hong Kong, the United States, Singapore, Singapore, the United Kingdom, and more than 30 European countries.
Top Crypto Exchanges Compared
|Exchange||Deposit Methods||Fiat Currencies||Cryptocurrencies||Trading Fees||Deposit Fees||Withdrawal Fees||Sign Up|
|Bank Transfer, Crypto, Credit and Debit Card, Osko, PayID||New Zealand Dollars and Australian Dollars||Over 320||0.6%||Australian Dollars Deposits: 0% Crypto: 0%||Australian Dollars Withdrawals: 0% Crypto: 0%||Visit Swyftx|
|Crypto, Credit and Debit Cards, Osko, PayID||10 Fiat Including USD and AUD||Over 600||0% to 0.1%||0%||Vary||Visit Binance|
|Bank Transfer, Fiat, Crypto, POLi, and PayID||Australian Dollars||Over 370||Instant Buy/Sell: 1% OTC: 0.1% Market Order: 0.1%*||Direct Deposit: $0 Cash: 2.5% PayID, POLi, and direct deposits: $0 BPAY: 0.9% Direct Bank Transfer: $0||Australian Dollars Withdrawals: $0||Visit CoinSpot|
|Crypto, electronic funds transfer (EFT), wire transfer, bank transfer, credit card, and debit card||50+||160+||0.1% spot trading 0.01% – 0.06% market makers/market takers fee||$0||Does not support direct fiat withdrawals Crypto withdrawal fees: Network fees||Visit Bybit|
|PayPal, Cryptocurrency, SWIFT, Fedwire, Wise, Debit Card, Credit Card, SEPA, BPAY, Bank Transfer (ACH)||USD, AUD, SGD, and 15+ more||250+||0.04% to 0.4%||$0||FREE via bank transfer. $25 for USDC withdrawal via SWIFT Network||Visit Crypto.com|
|Bank Transfer, Crypto, POLi, Osko, PayID||Australian Dollars||Over 300||0.1% to 0.5%||Deposit Fees Bank Transfer: $0 POLi: $2 (capped at $3.30)||$0 for AU Bank Accounts Cryptocurrency: Depends On the Network||Visit Digital Surge|
|Fiat, Bank Transfer, Crypto, Credit or Debit Card, Apple Pay, Google Play||Pound Sterling and Australian Dollars||Over 50||Maker: 0.04 to 0.1% Taker: 0.04 to 0.1%||Fiat: 1.5% CoinJar Users: $0 NPP: $0||$0||Visit CoinJar|
|Crypto, Osko, PayID, Electronic Fund Transfer, SWIFT||Australian Dollars, US Dollars, New Zealand Dollars||Over 25||0.05% to 0.5%||For SWIFT Deposit: $15 for deposits under Australian $5,000 equivalent $0 for deposits over Australian $5,000 equivalent For Electronic Fund Transfer: Australian $0.99 for deposits under $100 $0 for deposits more than Australian $100||Crypto: Fees vary Bank Transfer: $0 for AUD $20 for non-AUD||Visit Independent Reserve|
|Bank Transfer, Debit Cards, Neteller, PayPal, Online Banking, and Skrill||15 Fiat Currencies Including USD and AUD||Over 70||Vary||Vary||$5 but minimum withdrawal of USD50||Visit eToro|
|Debit Card||More than 20 Fiat Currencies Including USD and EUR||Over 200||Vary||Credit Card and Debit Card: 3.99%||2.49%||Visit Coinbase|
|Bank transfer (ACH)||Euro and US Dollars||Over 320||0.25%||$0||Vary||Visit Bittrex|
|Bank Wire Transfer, Crypto, Credit Card||US Dollars, Japanese Yen, Euro, Pound Sterling||Over 200||Taker: 0.055% to 0.2% Maker: 0% to 0.1%||Crypto: $0 Wire: 0.1% (min 60 Euro/USD)||Crypto: $0 Wire: 0.1% Express Bank Wire (within 1 day on business days): 1% (min 60 Euro/USD)||Visit Bitfinex|
|Bank Card, SWIFT, Google Pay, SEPA, and Fedwire||6 Fiat Currencies Including USD and AUD||Over 10||2.93% to 3.9%||0% to 5%||N/A – assets are directly sent to the user’s crypto wallet||Visit Coinmama|
|Bank Transfer, Crypto, Wire Transfer, osko, SEPA, Apple Pay and Google Pay||7 Fiat Currencies Including USD and AUD||Over 140||Maker: 0% to 0.16% Taker: 0.10% to 0.26%||Vary||Vary||Visit Kraken|
|Crypto, PayPal, Wire Transfer, Credit or Debit Card, SEPA||9 Fiat Currencies Including USD and AUD||over 645||0.1%||$0||Vary||Visit KuCoin|
|Bank transfer, P2P, POLi, OSKO||AUD||100+||0.5% – 1.6%||$0||Fiat Withdrawal fees: $0 Crypto withdrawal fees: Network fees||Visit Easy Crypto|
|Crypto, PayID, Bank Transfer||AUD||410+||0.85%||$0||Crypto withdrawal fees: Network fees Fiat Withdrawal fees: $0||Visit Coinstash|
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This page was last updated on July 14, 2023