Coinspot and Coinbase are two of the best crypto exchanges available in Australia. In today’s post, we’ve done a side by side comparison so you can figure out which one is right for you.
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- Longest standing exchange
- Big selection of coins
- Not as user friendly
Coinspot is a cryptocurrency trading and exchange platform that was conceived in 2013. After operating for that long, the company gained a great reputation amongst its users and is one of the best crypto exchanges on Australian soil. It currently offers BTC/AUD as well as 290+ other assets for purchase with AUD.
- Solid variety of altcoin choices
- Extremely simple user interface
- High fees when not using Coinbase Pro
Coinbase is an American exchange. The platform was created in 2012. It has gained immense popularity amongst its users in US, being one of the recognized crypto exchanges for cryptocurrencies such as Bitcoin (BTC), Ethereum(ETH) or 46 other digital assets.
Let’s take a look at the prices for buying and selling Bitcoin on Coinspot vs Coinbase.
The first thing to consider are the deposit fees.
First you’ll need to deposit your AUD on the exchange. Coinspot takes a cut of 0 and Coinbase charges a 3.99% fee via debit card for deposits.
Coinspot charges 0.10% of your purchase price while Coinbase charges 0.50%.
When selling crypto – Coinspot charges 0 while Coinbase is 0.50%.
Coinspot offers 6 methods to deposit AUD on their platform. They are bank transfers, BPay, PoLi, and PayID., which makes it easy for users as they’re already familiar with these methods.
The daily limit is 0 but for most people this shouldn’t be an issue.
Coinbase provides these options: Bank Account, Instant Cashouts, Debit Card, Wire Transfer, PayPal, Apple Pay. Their daily deposit limit is $50 (for initial verification).
Taking this into account, we recommend Coinspot for easy deposits.
Coinspot is well known for their security measures. They use the following methods:
ISO 27001 Certification
HackerOne Bug Bounty Program
Industry Best Practice Offline Storage Protocols
Coinbase also takes the security of their customers seriously. Here is what they do to protect your assets:
2FA via SMS or Google Authenticator app
Cold storage and multisignature wallets
KYC and antimoney laundering protections
While both exchanges are secure, it appears that Coinspot has better security over Coinbase.
Coinspot has a great, user-friendly mobile app which has a user rating of 2.5 on the Apple app store.
While Coinbase does not have an app, it’s website is accessible through a mobile browser.
Either exchange is a great choice but Coinspot is a winner as their service is top notch.
Sign up now using the links below: