Do you want to enter the world of crypto trading? Well, for this, you need to have some basic insight into the best crypto exchanges. Let us explore Coinspot review for Australians here. Well, CoinSpot is an Australian cryptocurrency exchange. It has been in operation since 2013 and offers a wide range of digital currencies including Bitcoin, Ethereum, Ripple and Litecoin.
CoinSpot is available in Australia, Singapore and New Zealand. The site acts as a broker between users and traders so it doesn’t hold any funds on behalf of customers.
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Exclusive features of Coinspot
CoinSpot offers a number of features:
Instant deposits – Your funds are delivered instantly without having to wait for the transfer process to complete. The verification process is quick and simple so you can start trading straight away.
Built-in wallet – CoinSpot has its own wallet which means you don’t have to download an external wallet application onto your device. This means that your funds are always safe with CoinSpot’s secure payment system.
Low fees – With low fees on every transaction, there’s no need to worry about how much money you’re spending when buying or selling. The exchange charges a flat fee of 0% on all trades made at market price plus $0.30 per transaction (or $5 maximum).
How to use CoinSpot
Step 1: Sign Up
The first step is to create an account on the CoinSpot website. You will need to provide personal information such as your name and address. Once you have signed up, you will be able to access the CoinSpot dashboard.
Step 2: Verify Your Account
CoinSpot requires all users to verify their identity. This process usually takes around 24 hours and is done to ensure that all users are legitimate. To do this, you will need to provide proof of identity such as a passport or driver’s license. You will also need to provide proof of address such as a utility bill or bank statement.
Step 3: Fund Your Account
Once your account is verified, you will need to fund your account with money. You can do this via bank transfer or credit/debit card. When depositing funds, make sure that you deposit in AUD as this is the only currency accepted on the platform.
Step 4: Buy or Sell Cryptocurrencies
Once your account is funded, you can start buying and selling digital assets. To do this, go to the “Exchange” section of the website and choose a cryptocurrency pair (e.g. BTC/AUD). You can then place a limit order or market order depending on your preferences.
Step 5: Withdraw Funds
Finally, when you want to withdraw your funds from CoinSpot, simply go to the “Withdraw” section and choose your preferred withdrawal method. You can withdraw funds via bank transfer or digital wallet.You can also convert your digital assets into AUD and withdraw them directly to your bank account.
CoinSpot offers a straightforward and easy-to-use interface. The platform allows users to quickly purchase and sell cryptocurrencies with a few simple clicks, making it accessible for those who are just starting out in the crypto world. Additionally, CoinSpot provides a range of tools and resources to help traders stay informed on the latest crypto developments and make informed trading decisions.
