To maximize your profits and minimize potential losses, what you need is a reliable trading platform with high liquidity, tight spreads, and an impenetrable security model. 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. 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. 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. For example, while cash withdrawals are instant, bank transfers can take several days to arrive. 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. There are no limits for the amount you can buy per day, but there are limits on the amount of cryptocurrencies that you can buy or sell per transaction. 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. Internal review: 2-4 business days (We will notify you via email and push notifications after our internal review). 4 – Transfer your AUD Once you've sold your crypto on CoinSpot, you can withdraw the AUD to your bank account. A fee of 1% might seem reasonable, but 30% is insane. Once you’re officially registered and verified with CoinSpot, you can start buying and selling! 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. The maximum you can buy and sell per transaction for Bitcoin is $100,000 AUD. The company has been activating for a long time in the crypto space, and its service is suitable for beginner traders. But what is it, exactly? It . AUD - Withdrawals AUD withdrawals are OSKO enabled, so if your bank is set up to receive incoming transactions via OSKO they will be near-instant! You can withdraw the free Bitcoin referral bonus on CoinSpot to an external Bitcoin wallet or sell it and withdraw the AUD to your bank account free of charge. For example, if you were to enter $1000 AUD, it will automatically tell you how much Ethereum you are able to afford. How long do CoinSpot withdrawals take? You must prove your identification documents for the completion of the verification process. You'll also save a lot of money on fees and you'll be able to deposit using POLi and PayID. 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. It’s intuitive, easy to use, and supports all the most popular cryptocurrencies. This will generate a unique wallet address that you can send your coins too. 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. Coinspot verification is r equired to prove identification documents to allow deposits up to AUD $2,000 per day and withdraw funds from the Coinspot … And obviously, it will need to be researched to ensure it’s not scammy. CoinSpot (Cryptocurrency Exchange): 2.6 out of 5 stars from 193 genuine reviews (page 2) on Australia's largest opinion site ProductReview.com.au. In order to cashout your crypto from Coinbase you need to transfer it to a local crypto exchange. So you’re all set to make your first bank transfer deposit with CoinSpot, but how exactly? So here they are: the best and worst aspects about CoinSpot exchange: To withdraw your money (Australian Dollars) from CoinSpot, you first need to tell CoinSpot where you would like them to send your money. If you have your own coin or token, you can contact them about adding it to the register too! After your total deposits have reached $2000 for the first time, your limit will be raised to $20,000 per 24 hour period. Bitcoin deposit & withdrawal Bitcoin deposit Before you can make a Bitcoin (BTC) deposit to your NiceHash wallet you first must have a desired amount of BTC in your own Bitcoin wallet. $25,000 to $500 per transaction depending on market liquidity. CoinSpot doesn’t currently It does not reset at midnight. Next, enter your 2FA code if you have it enabled (highly recommended! 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. This process usually takes around 24 hours. Transaction times are always a big talking point when it comes to any exchange platform. In Australia you can buy Bitcoin and other cryptos from Coinbase but unfortunately you can't sell. 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. 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. CoinSpot is at it again with their Valentines Day bonus referral credit, for new users signing up and making a deposit. This great customer service platform is used by over 200,000 companies around the world and ZenDesk are also involved in the world of Cryptocurrency. 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. 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. So chances are that there is a branch just around the corner from you. Coinspot Review 2021 - In This Guide, We Will Take You Through Of How To Invest In Coinspot Coinspot Review – As the faith in cryptocurrencies continues to increase daily, more and more people are searching for suitable cryptocurrency exchange platforms to buy, sell and trade digital coins. Well, CoinSpot has a great array of payment methods to choose from, and there should be something to suit everybody. The coins are added automatically to your wallet, you just need to wait for the transaction to happen. ). With CoinSpot you have options and options that are a significant advantage! 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. It is really easy and all you have to do is follow the steps bellow. Enter the amount of coins you wish to send, then enter the address you wish to send to (double checking that it is correct). Withdrawals that are submitted after 2pm, will be processed the following day. Exchange Binance Binance is the exchange to use if you’re new to the world of cryptocurrency. Hey guys so I have a bit of money invested in coinspot (fun) and I went to do a test sell on the 4th of Jan. Just sold like $12 worth to make sure I get it. 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. This means that users have to verify their identities when they sign in by inputing a unique code that is on their mobile. Cryptocurrencies Available: Bitcoin, Ethereum, Litecoin, Ripple and 100+ more. CoinSpot also has some impressive credentials: they are members of the Australian Digital Commerce Association, they are officially registered with Australian Business Number and the company completely follows the guidelines of AUSTRAC – which is Australia’s anti-money laundering and counter-terrorism financing regulator. I would recommend converting it into a crypto which you can send with low fees (such as litecoin). Here’s the full list of cryptocurrencies available to buy & sell: The charges and fees that you will encounter on CoinSpot are different for different transactions, but for the most part, they are generally low. With numbers like that, it’s guaranteed to be a trusted payment method. I use CoinSpot, simply because the fee is smaller compared to other exchanges. Obviously, CoinSpot has some other positive features that make it great, but we’ll learn more about those as this review progresses.
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