CoinSpot Reviews

Be careful before you put your money into this site. Coin Spot failed to safeguard my investment. I got scammed; all the cash I had with Coin Spot vanished overnight, and there’s been no reasonable explanation. This is definitely not a safe investment platform.

Crypto is pretty fresh territory for me. I gave another well-known platform a shot initially, but I just didn’t have the know-how to navigate it. Then my husband suggested I check out CoinSpot, and man, it’s super easy to use, especially for newbies like myself who are figuring out what Crypto really means. So far, I’m really pleased!

Using the app is a breeze, no fuss or issues at all.

So simple and just incredible! This product really blew me away.

I’m just getting into this and when a buddy pointed me to Coinspot, it made everything so much easier. A+++++

This platform is super easy to navigate and has really low charges. I found it quite user-friendly!

So far, looks solid with bitcoin and the Coinspot app is a breeze to use.

So, I went ahead and made a deposit on Coinspot. I mentioned to them that my buddy had put some cash into my account, which I knew was a bit of a dumb move. Now, they’re not letting me withdraw my funds, even though I've been using their service for quite some time. Just one little mistake, and now I’m stuck. I told them it was my friend's deposit, but they still want me to provide my transaction history. It’s a load of nonsense! This could’ve been easily avoided. Sure, it’s just $20, but I’ve also referred a few folks through my link who’ve deposited money. But nah, that doesn’t seem to matter to them as long as they’re raking in the cash!

There are essentially two operations at play here: one is a legitimate exchange, while the other is a backend con that employs outrageous spreads and deceitful methods to push trades that result in losses. They never clarify the difference between buying and selling spreads, instead using the buying rate to lure customers into trading without ever disclosing the adjusted selling rate. Typically, there's about a 40% gap in the spread. They even hand out fake receipts at the buying rate, while the actual exchange happens at a much steeper loss. Understanding their transaction history feels like needing a degree in forensic accounting or just being another layer of a complex scam. It's obvious this is a scam, and their lack of transparency and accountability is bound to lead to deregistration as their illegal and fraudulent practices come to light. Stay safe, folks! Just remember, when their house of cards comes crashing down, any crypto you have on their platform is gone. Better to transfer than trade—get out while you still can!

This platform is super simple to use, and I'm just starting out with this kind of investing. I came across some helpful YouTube videos that break it down nicely.

Transactions that feel super safe; with Two-Factor Authentication and additional security measures!

This platform is super easy to navigate. I was a bit scared to dive into buying crypto, but it really simplified the whole process.

I’m just getting into Crypto and began with a different platform that was pricey and tricky to navigate. Then I found Coinspot, and man, what a breath of fresh air! It’s super easy to use, offers various payment options, and you can see exactly where you stand.

Heads up, their spread is massive and honestly, I can't wrap my head around how they manage to pull it off. There are some newer Australian exchanges out there that offer way better spreads.

Coinspot hit me with $10,000 in fees from my super account in a short time. Just be cautious if you decide to use them. I’d recommend Coinspot mainly for long-term trades, not for swing trades or anything like that. Even then, I’d think twice.

EDIT: In response to Coinspot's reply:
Your spread is where you rake in most of your profits, and it’s consistently way off compared to your competitors in Australia. I’ve done a few comparisons, and I’ve seen BTC prices differ by $100-200 on multiple occasions. The fees you mentioned aren’t what I experienced.

If you can provide a comparison showing your spread is competitive or very close, I’d be more than willing to revise my review.

Just a quick note for all y'all that Coinspot sends all your Crypto dealings to the ATO. I went to file my tax returns last week, and my accountant started asking me about my Crypto activities from Coinspot! I was like, what the heck?