?
? !
1 photo
CoinSpot
2.5 from 158 reviews · View Statistics

Reviews

Previous
Next

Reviewer Photos & Videos

  • Thumbnail
  • Thumbnail
  • Thumbnail
  • More
    Thumbnail
Todd M.

Todd M.Sydney, NSW

Bnb missing

published

Forgot the bnb memo....

Coinspot resolved in 1hr...screen shot of transfer. Great service. I would highly recommend Coinspot as the best 8n Australia for Crypto trading and best customer service!! Thanks.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!

Excessive spreads and high fees limit your profits

published
Incentivised ReviewNo
Similar opinion? Write a review on ProductReview.com.au!
Moo

MooNSW, 2567

  • 31 reviews
  • 10 likes

Expensive fees and exchange rate. 9% total mark up for buy and sell.

published
Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Digital Services

Find out how CoinSpot compares to other Digital Services

Know better, choose better.

Compare all
  • Verified customer

Can't withdraw $10k - Strongly advise against

published
Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Stacey. R

Stacey. RSydney, NSW

  • 3 reviews

Referral code: REFPJD7N9 for $10 Bonus

published

I've been using this for a few months now and been fairly happy. It is simple to use and they give you a free $10 when you sign-up so you may as well give it a go. The fees might be a touch higher than others but it's super easy to use.

Incentivised ReviewNo
Similar opinion? Write a review on ProductReview.com.au!
Adam

AdamGreater Melbourne (Metropolitan), VIC

  • 4 reviews
  • Verified customer

TOTAL SCAM - stole $4,000 from me.

published
Incentivised ReviewNo
2 comments
CoinSpot
CoinSpotCoinSpot
Adam
Adam
Similar opinion? Write a review on ProductReview.com.au!
Commbank ex - customer

Commbank ex - customerMetropolitan Adelaide, SA

  • 5 reviews
  • 7 likes

Daylight thieves !!! Stay away now!

published

Transferred $$$$ through PAY ID which is instant transaction, now after two days my money does not show in my account and the support team is seemingly on holidays or hiding somewhere investing our money ...

Have been sending them help tickets NO HELP except receiving automated messages under different fake names saying that “ we have to be patient!!”

IF YOU RESPECT YOURSELF AND YOUR MONEY STAY AWAY FROM THIS ONLINE PET SHOP!!

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Wade

WadeGreater Melbourne (Inner), VIC

  • 3 reviews
  • 2 likes

Too expensive

published

Pros: Easy to use
Cons: Far, far too expensive. Any profits you might make out of buying and selling crypto are eaten away by Coinspot fees and margins, even on market orders. Whatever balance you think you have with Coinspot, subtract 5%.

Much, much better options out there.

Incentivised ReviewNo
2 comments
CoinSpot
CoinSpotCoinSpot
Wade
Wade
Similar opinion? Write a review on ProductReview.com.au!

High fees and can’t handle high loads

published

No matter what they say, their fees are extortionate compared to other exchanges. (Waiting for the cut and paste response).
This aside, yesterday I wanted to capitalise on the DOGE run so transferred from my Trezor wallet which confirmed the transaction within minutes on the blockchain. My CoinSpot account failed to show the new balance for over 8 hours, by which time the price had dropped around 25%. Will be moving to another exchange now.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Digital Services

Find out how CoinSpot compares to other Digital Services

Know better, choose better.

Compare all
B. Johnson

B. JohnsonSydney, NSW

  • 3 reviews
  • 3 likes

Verified Referral Code: REFPJD7N9 for $10 Bonus!

published

This is very trusted platform that many have used for many years. Very happy with my experience and the wealth that I have generating with this app and using bitcoin trading.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Robin G.

Robin G.Greater Melbourne (Inner), VIC

What a rip off

published

Use any other platform but this thieves. They will charge in hundreds even if you sell something. They cut commission on everything, I mean everything Insanely expensive, you do anything will charge you 500 to 600 hundreds bucks I mean you kidding me? Go Binance or any other stay away from them. Simply stay away from them at all cost. Only one good thing about them is faster deposit. Coz they need your money!

Shame on you coinspot. People now have more options it isnt 2014. 2021 people have way more options.

Binance charge only 1% what ever you do including exchange, sell, withdraw. way cheaper then this thieves.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Monica

MonicaSouth East Queensland, QLD

Withdrawal but no money

published

Withdrawal of $500 yesterday morning came straight out of my account and disappeared contacted CS CoinSpot to get just wait so I did a second transaction straight in my account, they are liers and thief's do not trust this company if they lose your money it’s your fault not there’s absolutely joke of a company

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Khal

KhalGreater Melbourne (Inner), VIC

  • 18 reviews
  • 17 likes

Absolute rip off and incorrect FAQs

published

Now only that Coinspot charges fees for every transaction, but there is also a significant gap between buy and sell prices.
Their FAQs state that there is always a gap between buy and sell price in every trading platform i.e cryptocurrency, shares stock etc..
I am not sure about cryptocurrency, but when it comes to shares, this is incorrect. I use commsec and nabtrade amongst other investment platforms and this is the on my time I am hearing or seeing this crap.
I have always sold and bought shares market price, or have capped the price for future purchased or sales.

These lot should know better.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Commbank ex - customer

Commbank ex - customerMetropolitan Adelaide, SA

  • 5 reviews
  • 7 likes

at least 3% overpriced to buy and 3% underpriced to sell ,compared to other exchange centers.

published

this exchange center will milk you dry with ridiculously overpriced coins and once you notice this you have been already ripped off, costed me hundreds of dollars extra compared to other exchange centers, Do yourself a favor and choose a decent large exchange center which is not hungry for your gains...

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
ALS

ALS

  • 3 reviews
  • 4 likes

Inaccurate prices

published

I had to move to another exchange.

On top of the 1% fee, they are inflating of the actual price of the coins in comparison to what is displayed on other exchanges. Meaning you pay more and they take more.

They will always promote and talk about the their market buys which is ok, but it’s only for select coins. When purchasing direct from their exchange, this is highway robbery, especially when you are doing 10s of 1000s or more in trades.

I don’t think this a trustworthy site. I’ve moved my entire holdings elsewhere.

Change your prices and I’ll consider coming back.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Digital Services

Find out how CoinSpot compares to other Digital Services

Know better, choose better.

Compare all
Expose thugs

Expose thugsGreater Melbourne (Metropolitan), VIC

  • 17 reviews
  • 19 likes

Ok but getting expansive.

published

Joining is easy, easy to use, buying and selling is ok. Very high fees, massive spread and consistently higher prices then other platforms such as BNB. Now moved n saving.

Incentivised ReviewNo
2 comments
CoinSpot
CoinSpotCoinSpot
Expose thugs
Expose thugs

Sorry but on coinspot ADA buying price is $57.20 and selling price is $55.49. That’s big difference. Buying and selling price on BNB is $55.36. Your prices are very high to start with, eating into gains and more profits for coinspot.

Similar opinion? Write a review on ProductReview.com.au!

Great site

published

I have been using this site for about 3 years. I tried others but i find Coinspot is the easiest to use. Some offer lower fees, just to slog you with high deposit charges and require bigger minimum trades. Receiving interest on wallets would be good, hopefully they might add that one day.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Hutcho

HutchoSydney Surrounds, NSW

Use of coinspot and question

published

I find coinspot easy to use and not so daunting to view, it’s a great platform. Do I gain interest on my coins and if so is there a time period for this?

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Darren B.

Darren B.Greater Melbourne (Outer), VIC

Fees are not 1%

published

Sold $500 worth and charged $14 so not 1%, I can't imagine if it was $50,000. I've just stared trading so lucky I've now read all these reviews. I'm finding another site.

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
F.C.

F.C.Greater Melbourne (Metropolitan), VIC

  • 6 reviews
  • 4 likes

Too high fees, thieves!

published

Disgusted on how much profit they make on commissions plus the difference in spread! They sell for much more the real price and they buy for less the real price. I wish you to fail!

Incentivised ReviewNo
1 comment
CoinSpot
CoinSpotCoinSpot
Similar opinion? Write a review on ProductReview.com.au!
Page 1 of 8

Questions & Answers

Isabella Cameron

Isabella Cameronasked

I am extremely unhappy and disappointed with my experience with Coinspot. I have $10k in my account that I would like to withdraw NOW, and they have locked my account, I applied to have withdrawals enabled and followed the instructions correctly (twice) and was rejected both times. I do not understand why my account was locked in the first place, however, I attempted to contact customer support and I currently have 5 open cases and they haven't replied.

A customer service representative has rung me, however, the phone only rung for 3 seconds not giving me a fair chance to pick up and amend the issue.

They also do not supply a phone number for me to contact and ask for help

I find it very telling and convenient that this company will provide fast and efficient service when it comes to depositing money into the website, however when I try to withdraw money, they are very difficult to reach, ignore my requests, and lock my withdrawals.

2 answers

Sorry to hear this , I have had the same experience. I transferred money through PAY ID , the money was deducted from my bank account but did not show up in my Coinspot account . I used their online help literally ten times within two days but each single time I received the same message under different names saying “ we have to be patient “ , you know how crucial time and your money are in the crypto space which seemingly has no value in Coinspot.
Coinspot is not my exchange centre anymore...

Adam
Adam

Even as a regulated company, in Australia, the entity can still be run by d**ks. Any company holding millions or even hundreds of thousands of customer's money (crypto or cash)... every extra day they have your money is another day they are earning interest on it.

File a complaint at AFCA (http://afca.org.au) - and tell them you've done that. Luckily we are in Australia and we have things like AFCA who will get a result. There's also small claims tribunal and as an Australian company they are also regulated by ASIC. They are also a reporting entity to AUSTRAC. In Australia, companies like this will have to eventually give you your money or shut down the business as we have tax-payer-funded protections we can use in these situations.

If you paid by credit card, do a chargeback. And ultimately if you think it's not just a "commercial issue" then report it as a cyber crime to the police.

And then, tell your story on as many websites as possible so people know. It's not "trolling" or "aiming to damage their reputation" if all you are doing is telling (truthfully) your story on as many forums as possible.

Chico

Chicoasked

I would like to open a CoinSpot account for our SMSF, but I am running into difficulties, because I have already a CoinSpot account in my personal name.
1) To open the SMSF account, I tried to use my e-mail address, but it was refused, because it is already used in my personal account. The SMSF does not have an e-mail address.
2) If this can be overcome, can you use my ID you already have also for the SMSF?
3) The linked bank account would be different.

No answers

Get an answer from our members and CoinSpot representatives

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.