2,713 reviews
AI reviews summary
CoinSpot is highly regarded for its accessibility, with many users highlighting it as an ideal entry point for cryptocurrency trading in Australia. The platform is praised for its intuitive interface, seamless AUD integration via PayID, and a straightforward onboarding process that includes automated KYC verification. While the majority of feedback is positive, a significant segment of users has raised serious concerns regarding restrictive withdrawal policies and security vulnerabilities.
Pros
Cons
Verdict
CoinSpot is a strong choice for novice Australian investors seeking a simple, regulated platform to start their crypto journey with local currency. However, experienced traders or those moving large volumes should be mindful of reported difficulties with fund withdrawals and the necessity for rigorous personal security measures to mitigate the risk of account compromise.
I chose CoinSpot because it is one of the few cryptocurrency platforms in Australia that allows 16-year-olds to create and use an account. The sign-up and identity verification process was straightforward, and the app is simple to navigate, especially for someone new to cryptocurrency. There is also a wide range of coins available. I also… Read more · 1
appreciated that CoinSpot contacted me to confirm my withdrawal for security purposes, which made the platform feel safer. However, my USDC withdrawal remained pending longer than I expected, so the withdrawal process could be faster and provide clearer updates.
Overall, CoinSpot is user-friendly, accessible to younger users and appears to take account security seriously.
Great help from the live chat helping me get setup. Very swift with their response. They were patient with me and made it smooth. The app is easy to navigate and use. Do recommend! Show reply
As a first-time crypto user, I was very nervous, but CoinSpot app made the entire process incredibly straightforward. Setting up my account, verifying my ID, and making my first transaction was absolutely simple actually stress-free. Highly recommend for beginners! Show reply
Reviews with attachments
Works great quick transactions I love the app it’s the most easy one to use for me Show details · 1
Very easy to join and I'm now an investor. I've started small until I gain a bit of confidence.
It’s a fast and smooth crypto app that lets you do a wide range of things with sending reviving and holding stock in a massive variety of coins Show details · 1
Very easy to learn for beginners. Already made money in just 1 day. Show details · 1
The platform is easy to use and trading is smooth. However, it currently doesn’t support perpetual trading, which would be a great addition in the future. Show details
CoinSpot is a solid, beginner-friendly Australian crypto exchange with a clean interface, strong local AUD support, and a reputation for being secure and easy to use. I’d give it a 7/10 for likeability: it does the important things well, but the higher fees on instant buys and some payment methods keep it from feeling exceptional.
Easy to setup and operate, has plenty of coins to monitor and invest/buy. I do however wish there was better sections for recent movers to monitor quick fluctuating coins. (The Dashboard does show 6 recent movers in the last hour but needs expanding) Show reply
- +1
I made a transaction on coinspot and was given a average buy rate price six hours later when returning to view my account my average buy rate had increased. Ive got screen shots of the transaction to verify when bringing the issue up with coinspot I was told to view the information to the way they conduct there transaction. In doing so it states… Read more
that the average buy rate is calculated instantly so back to have a chat with coinspot to be told no it is done periodically I informed them of what it states in their site to be told it is a mistake on the site and it's not done instantly and the information on the site will have to be changed and thankyou for informing them of this mistake. Nothing has changed on their site and every transaction I've done since the average is done instantly.
this is very unprofessionalism of online help desk.while customer is seeking help and asking emergency help the support team close the talks and behave very unprofessional way.i tried to call and reach out but they already closes the lines.very bad experience with coinspot
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I will not recommend anyone using a coin Sport their are bl*ody thief gas fees up the roof I have withdraw the USDT send it to my different bullet waiting for review this is my money I can send wherever I want TO will be putting formal complaint to the fair Trading
Latest follow-ups
For a seasoned IT professional such as myself, the export dealing with coinspot was hair raising. Red flags galore. To give them credit, getting funds of any nature IN TO them is simple and instant. However, when trying to withdraw, that’s another… Read more
story. I had substantial problems getting them to authorise a withdrawal. When I initiated the withdrawal they immediately froze my account and said a rep would call within 24 hours … and they did… around 20 hours later and then I spent 45 minutes on the phone convincing them that the transaction was legitimate and authorised. They wanted me to basically give in that this must be some kind of fraud ….. I did not. They cancelled the transaction at my request putting the funds into coinspot again and then allowed me to return those funds to my nab account… two days later.
Sooooo many red flags
Follow-up · As an overall summary it goes like this: a) have some kind of problem B) fail to resolve due to lack of sensible reply from a human being C) complain somewhere online like trustpilot etc D) some “sozBot” apologises patronisingly while asking for more info which opens an automatic support ticket system in the same system you couldn’t get a human… Read more
Hi Zephyr, Thanks for taking the time to leave a review.… Read more (+1 reply)
BUYER BEWARE - Coinspot only supports the crypto exchange they see fit according to disputable standards and their personal agenda. Their integrity is one-sided, that is, not your side! Your decisions can be easily overturned by them and freedom of… Read more
trade doesn't exist. If Coinspot decides you are trading with addresses they don't like, you will go through days of hassle to get your money back, they will cancel your transactions and block you from any trading that doesn't go through paying fees to them, let alone withdrawing your funds! to be clear, you will remain crippled without actual ability to move your funds away from them. The suited, well spoken white collar scammers at Coinspot are not loyal to free and comprehensive crypto trade, but to their fees and AU government control. Coinspot will take ownership of your money!! it's not as simple to retrieve it - if anything may take days of exhausting phone calls and email and online chats with bots and people and bots again, each time throwing you between different representative of their 'team', dedicated to wear you out. Back to working with Coinbase, equally simple to use without nannies taking over your funds and blocking you.
Follow-up · The funds were returned back to Coinspot platform, however I was blocked from doing any trade and could only withdraw it back to my bank account, or buy coins i'm not allowed to trade with. Catch 22! The fees were as per usual, and were returned in full to the platform along with the funds. The reason given was that Coinspot doesn't trust the… Read more
Hi Avishai, Thanks for taking the time to leave a… Read more (+3 replies)
Positive reviews
I recently started using CoinSpot and have had a smooth and easy experience so far. The platform is beginner-friendly, secure, and simple to navigate, especially for new users getting into crypto. Deposits and transactions have been quick, and I appreciate the clean interface and helpful support resources. Thank you for the great service, and I look forward to continuing to use CoinSpot. Show reply
Coinspot has been very helpful to help me start trading crypto. It has very low fees and is very easy to understand. I would recommend everyone to use it wither your experienced or new. Show reply
I’ve been using CoinSpot for a as a brand new investor and have been impressed. The platform is incredibly intuitive and makes managing my portfolio straightforward, even on busy days. Most importantly, the deposit feature works seamlessly—it's fast, reliable, and has not given me any trouble at all. It’s a solid, secure choice for anyone looking for a hassle-free trading experience. Highly recommended. Show reply
Negative reviews
if you want to loose money use this. my account was compromised just from my email alone and emptied. support were not in the least interested and blamed me. They obviously have security issues. just don't.
I'm locked out of my account and been trying to do everything to activate with qr and 2fa and biometrics and still not working always saying invalid token , my account has $100 in it , not happy
Hi Lyndell, Thanks for taking the time to leave a… Read more
Terrible customer service after I opened a new account after 1 year of the last one being closed, thought this time would be different. Immediately questioned as if I was a criminal suspect. In a condescending tone the woman on the phone asked me exactly what I plan to do with crypto and if I decided to send it where will I be sending it to as… Read more
well as asking me my about my occupation. Quiet sickening. Still baffled after this disgusting confrontation. The dispute team did not want to resolve this issue after countless emails, same answer and no amicability at all. Refusing to listen to my concerns and even denying the opportunity for a second call to clear up miscommunication and misunderstandings as there were many things twisted and turned in their favor to keep my account restricted. Please steer clear if you want your privacy and peace of mind, they are really not worth your time.
Hi, As with everything, the security and safety of… Read more (+1 reply)
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Recent reviews
I’ve been using CoinSpot for a while now and it’s easily one of the best crypto platforms I’ve tried in Australia. The app is simple to use, deposits are fast, and buying or selling crypto is really straightforward even for beginners. What stands out most is the security and reliability — I’ve always felt confident using the platform. Customer… Read more · 1
support has also been responsive whenever I’ve needed help. Huge range of coins available and the interface is clean and easy to navigate. Definitely recommend CoinSpot to anyone looking to get into crypto or trade regularly.
It is a great platform for beginners and has helped me to kickstart my crypto journey. Highly recommend it and they are friendly and will assist you with everything. Show reply
Very easy to create an account, deposit funds and buy my first ever coins. I did not like having to supply my drivers licence details but I understand that it was necessary to confirm who I am in real life. Show reply
Coinspot was so easy to sign up too. Great fast transactions from other wallets such as PayPal i was able to deposit $5 from PayPal to coinspot so simple to do so. Im also from New Zealand so it works from here too. Love it. Don't regret signing up. Show reply
Honestly, this platform is really easy to use. The layout is clean and intuitive, so you can find everything without feeling overwhelmed. Even as someone who’s not super experienced, I was able to get comfortable with it pretty quickly. Buying, selling, and checking your portfolio all feel smooth and straightforward. Definitely a good choice if you want something simple and user-friendly. Show reply
I jumped ship from DAY1X which were shutting down their platform, over to COINJAR which made me jump through a ridiculous amount of verification hoops, so I switched over to COINSPOT which surprised me having the quickest and automated verification process of any exchange I've come across.
I’ve been using CoinSpot for a while now and overall I’m really happy with the experience. The platform is very easy to use, even for someone who isn’t deeply experienced in crypto trading. I’ve already made a few purchases through CoinSpot, and the process has been smooth every time. Deposits are quick, transactions are straightforward, and I… Read more
like how everything is clearly displayed so you always know what you’re doing.
One thing I appreciate is the wide range of cryptocurrencies available, which makes it convenient to explore and invest in different projects all in one place. Security also seems solid, which is really important when dealing with crypto.
Overall, CoinSpot has been reliable and user-friendly for my needs. I’d definitely recommend it to anyone in Australia looking for a simple and trusted way to buy and manage cryptocurrency.
Hi CoinSpot Support, Here is my review for the $10 Bitcoin promotion: I have found CoinSpot to be easy to use and simple for buying and selling crypto. The app is straightforward and deposits/withdrawals have worked smoothly. Overall it has been a good experience. Thanks.
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Hi Bencando, Thanks for taking the time to leave a… Read more