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CoinSpot

CoinSpot (page 4 of 9)

2.6 from 180 reviews · View Statistics

Reviews

  • Transparency
    2.7 (6)
  • Rates and Fees
    2.5 (6)
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Linda

Linda Sydney, NSW

Its embarrassing to kick someone out without a genuine reason.

published

Despite the fact that I typed my 2fa correctly, I was still pending till they kicked me out of the coinspot, I didn't think I deserved to be kicked out because my bank didn't complain to you about the money I sent to your platform was fraud so why holding my money?

2 comments
CoinSpot
CoinSpotCoinSpot
Linda
Linda

My bank have contacted your team and yet my money have not been reversed back , please what's wrong?

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Hayden

Hayden

  • 2 reviews

Coinspot is actually good - amended review

published
1 comment
CoinSpot
CoinSpotCoinSpot
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Kochie

KochieSydney, NSW

  • 2 reviews
  • Verified

Easy and fun to use

published

Blimey. I wish you could reply to the doomsday naysayers on this. What a bunch of whinging sooks.

As for coinspot - I joined nearly three years ago and initially only invested a few $$ and left it alone for about 2 years. Then covid kicked off and i got bored one day, and invested a bit, then a bit more and it is appreciating very quickly. Its good fun watching the peaks and troughs on the app.

Fees were a little steep when i came to taking some $$ out, but we have a saying in northern england, Owt for Nowt. I literally put a few grand in and its got sufficiently more in there now, so if there are fees etc for using this service, so be it.

1 comment
CoinSpot
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COINSPOTSUCKS

COINSPOTSUCKSSouth-Eastern Region, NSW

ABSOLUTE CRIMINALS!!

published

Don't waste your time with this OVERPRICED hunk of crap exchange....

At the end of the day they will ALWAYS overcharge you in every department; from the price of the coins you wish to purchase, down to the wallet transfer fees...

If you want to make to rich richer; by all means, throw your money into these clowns pockets!

1 comment
CoinSpot
CoinSpotCoinSpot
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Hakan

HakanGreater Melbourne (Metropolitan), VIC

TOP CUSTOMER SERVICE

published

Perfect, trustworthy, easy, good info, facts, 1st class app and outstanding customer service, fees are expensive, but worth it , you are not talking with bots. Good investment platform plus Australian.

1 comment
CoinSpot
CoinSpotCoinSpot
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David

DavidHobart, TAS

Long time customer gone

published

I've been using Coinspot for a few years. I've been more active with buys, sells and transfers the past few months. As stated by many on this page, their fees and rates are excessive and often exceed their claims. I've lost a considerable amount in small trades that have had their profits eaten up by Coinspot. I just encountered this again when I transferred my coins to another exchange. Nearly 5% loss. Borderline criminal

1 comment
CoinSpot
CoinSpotCoinSpot
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Complete rip off

published

selling rates increases up as soon as the rates goes up. if initially bought a coin for $5 and selling was $4.8, once price is $6 and if you wanna sell the new selling rate is now $5.5.. do we traders look dumb and you still think people will stick to this crap after they know this app is rubbish. Switched to binance and also been using vpn to use US sites rather than making this people rich.

1 comment
CoinSpot
CoinSpotCoinSpot
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Easy to use

published

Coinspot is so easy to use. I was confused initially with crypto, but this exchange has definitely made it easy to understand. I had an issue at the start but their support team was very helpful. Thanks guys

1 comment
CoinSpot
CoinSpotCoinSpot
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Greg

GregGreater Melbourne (Outer), VIC

Rates

published
1 comment
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Dean5516

Dean5516Campbelltown

  • 10 reviews
  • 5 likes

Coinspot Fees Fraud

published

I sold NEM for $37,500. 1% fees equals $370. I end up with a final amount of $36,200. Really! The order history is not a true and correct record of the transaction. This needs to be reported and a full transparent audit is required. ASIC needs to be notified.

1 comment
CoinSpot
CoinSpotCoinSpot
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Joel Williamson

Joel WilliamsonGreater Melbourne (Inner), VIC

These guys are a rip off. DO NOT USE THEM

published

They charge so many fees and do not provide an accurate, they always sell for less and buy for more than what appears.
There are much better exchanges out there including btcmarkets, independent exchange if you want an Australian exchange.

1 comment
CoinSpot
CoinSpotCoinSpot
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Furious customer

Furious customerSouth East Queensland, QLD

  • Verified

Charged 190 matic to transfer matic to my Klever account.

published
1 comment
CoinSpot
CoinSpotCoinSpot
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Easy as

published

Coinspot is so easy to use. I was confused initially with crypto, but this exchange has definitely made it easy to understand. I had an issue at the start but their support team was very helpful. Thanks guys

1 comment
CoinSpot
CoinSpotCoinSpot
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Stupid fees

published

Despite the constant canned replies by Coinspot reps on this page, every swap I have done has resulted in between 5 and 10% drop in my AUD holding value instantly. On a $50AUD swap, 1% is $0.50. Not $4.50. Paint it which ever way you like, this is a rort. It is simply not possible to move swiftly and capitalise on small gains whilst minimizing losses.

1 comment
CoinSpot
CoinSpotCoinSpot
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Adrian

AdrianGreater Melbourne (Metropolitan), VIC

  • 2 reviews

Prompt Replies. Thorough Answers.

published

I have accounts with several platforms, however CoinSpot stands out way above the others when it comes to Customer Service. I know that I can always speak with a real person and I usually get a reply straight away on CHAT. The platform is easy to navigate and the security is strong.

1 comment
CoinSpot
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chelsii b.

chelsii b.South East Queensland, QLD

Outstanding customer service

published
1 comment
CoinSpot
CoinSpotCoinSpot
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Thomas

ThomasGreater Melbourne (Metropolitan), VIC

The app is now really good

published

You guys just updated the app and it has gone from a 5/10 to a 10 good job now I can finally use it everyday! I’m excited to see what is next for your app. Maybe markets?

1 comment
CoinSpot
CoinSpotCoinSpot
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My account is closed! It's my fault and I'm Sorry

published

thanks CoinSpot teams
for give me my money back today it's in time to pay for my tax bill, I wish CoinSpot team all the best and keep the good work :)

1 comment
CoinSpot
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Ali J.

Ali J.Greater Melbourne (Outer), VIC

Bloody rip off

published

A simple suggestion, just avoid these hungry dogs. You will start losing from your first purchase without price drop as it will come in to the wallet. You will see that you are already in loss

1 comment
CoinSpot
CoinSpotCoinSpot
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Not Happy Jan

Not Happy JanSydney, NSW

Inefficient, User unfriendly, Suspicious activity, Great platform for suckers

published

I have nothing good to say about this platform and I'm so annoyed with what I have gone through over the last few days, I can't be bothered typing the stupid bloody story so I'll just repeat myself... Inefficient, User unfriendly, Suspicious activity, Great platform for suckers. Go to Binance or Swiftx instead.

2 comments
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Page 4 of 9
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Questions & Answers

Truthseeker

Truthseekerasked

Is it possible that if Coinspot spent the same amount of time on CUSTOMER SERVICE as they spend answering criticisms on here, that they'd have better reviews?

1 answer
Khal
Khal

Does anyone know much a bout Coinbase? I am looking to start investing using platforms other than Coinspot

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

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