Before choosing any cryptocurrency platform, it is important to go through various cryptocurrency exchanges and reviews to make it easier to find the right one: there are hundreds of CoinSpot updates available online. CoinSpot exchange review 2022 is narrated below.
What is CoinSpot?
CoinSpot is an Australian-based organization (headquartered in Melbourne) cryptocurrency exchange founded in 2013 by Russell Wilson, a well-known figure who had gained extensive experience in developing online security software.
The forum provides a secure and reliable platform for trading (buying, selling, or exchanging) cryptocurrencies. The company has become an official member of the ADCA or Australian Digital Commerce Association, a non-governmental organization known for its undeniable commitment to providing legal protection to its registered customers.
The CoinSpot exchange allows its registered users (individuals, Super Fund investors, and companies) to immediately buy or sell cryptocurrencies, especially Bitcoin. It also allows them to trade in the open market by specifying crypto prices and earning potential profits.
How does CoinSpot work?
CoinSpot works in the same way as any other digital currency exchange. It compares buyers and sellers and charges trading fees, often referred to as the ‘spread’ of its services. When users start registering their account with CoinSpot, they must deposit some money into their CoinSpot account via bank transfer or through cryptocurrencies. Once the account is funded, merchants can immediately start trading on the platform.
CoinSpot exchange offers the following features to its registered customers:
The forum has been made more user-friendly to suit the needs of all investors – new or experienced. CoinSpot offers ‘Trading View’ charts and other types of advanced orders. Traders can quickly trade crypto-assets (buy, sell or exchange) among a large list of supported cryptocurrencies: more than 210 crypto coins are available on CoinSpot.
In addition to cryptocurrency deposits, the forum also allows cash deposits and fiat money deposits like BPAY, POLi payments, PayID. The exchange uses strict security measures to protect customer finances and information and is licensed by ISO IT securities. Responsive customer support team and ‘Over-The-Counter’ support desk for traders (Australian Super Fund investors). It hires a ‘Partnership Program’ to reward users up to 30% of commissions on referrals.
CoinSpot closes some cryptocurrency transactions with the following useful features:
CoinSpot is a fast crypto exchange that allows traders to buy or sell Bitcoin without negotiating its price easily – the platform contains crypto assets that can be easily sold by registered dealers. In addition, it provides an additional price chart for both desktop and application users, which helps them to perform technical analysis efficiently.
CoinSpot charges fiat transaction fees, and thus when more traders buy or sell on the platform by financing their accounts with fiat money deposit, the platform generates additional revenue. Therefore, the exchange has established a user-friendly program to encourage them to bring in more users.
Users who use their registration transfer code on the platform will earn $10 in Bitcoin as soon as they make their first AUD payment.