CoinSpot is an Australian cryptocurrency exchange platform that allows users to buy, sell, and trade various digital currencies. The platform typically offers a range of cryptocurrencies and provides wallet services for storing digital assets. CoinSpot generally caters to both beginner and experienced cryptocurrency traders through its web-based interface.
Reviewers consistently report positive experiences with CoinSpot. Customers often highlight easy, great, easy use, coinspot.
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A minority mention drawbacks around coinspot, account, money, wallet. Overall sentiment is strongly positive with an average rating of 4.0 stars across 60 reviews.
Each source counts by its number of reviews. Only reviews written by people are scored.
Rating, volume, share of the score, six-month trend and fake-review risk for each source
Source
Rating
Reviews
Weight
6-mo
Fake risk
★
Trustpilot
Imported Trustpilot reviews
4.0
60
100%
● Medium
4.0 / 5 overall
=
60 reviews across 1 scored source
How fake risk works ⓘ
Reputation trend
Monthly average rating from reviews written by people · latest review Sep 2025.
Last 3 months
4.0
12-month avg
4.0
All-time
4.0
Category avg
3.4
Monthly averageCategory average
Monthly average rating and review count
Month
Average
Reviews
Jul 25
4.8
21
Aug 25
2.5
12
Sep 25
4.1
27
What people praise & complain about
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 60 most recent reviews.
Top praiseof 45 positive reviews
Easy to use64%
29 mentions
Website & app29%
13 mentions
Fast & efficient18%
8 mentions
Customer service13%
6 mentions
“I’ve never used cryptocurrency before and this app made everything so simple and easy to navigate”
On “Easy to use” · Sep 4, 2025
Top complaintsof 10 negative reviews
Account issues50%
5 mentions
Customer service30%
3 mentions
Scam30%
3 mentions
“I told them it was none of thier business so they suspended my account for any future forward transfers”
On “Account issues” · Sep 10, 2025
How it compares
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Web3 & Cryptocurrency.
Overall rating and review count for this company and similar companies
I was changing over from Binance, it was rather easy but I am very green with transferring from one platform to another. Just onto the coin spot online chat and was given step by step instructions. Bonus is a didn't even have to wait in a queue to talk to someone.
CoinSpot is an Australian cryptocurrency exchange platform that allows users to buy, sell, and trade over 400 different cryptocurrencies. We offer instant buy/sell services, advanced trading features, a mobile app, and secure wallet storage for digital assets.
How do I verify my CoinSpot account?
To verify your account, you'll need to provide a valid government-issued photo ID and proof of address dated within the last 3 months. The verification process typically takes 1-2 business days and is required to increase your trading limits and access all features.
What are your trading fees?
CoinSpot charges a 1% fee for instant buy/sell transactions and 0.1% for trades placed on our exchange markets. There are no fees for AUD deposits via POLi or bank transfer, though withdrawal fees may apply depending on the cryptocurrency.
How long do cryptocurrency withdrawals take?
Most cryptocurrency withdrawals are processed within 1-24 hours, depending on network congestion and the specific cryptocurrency. Bitcoin and Ethereum withdrawals typically take 30 minutes to 2 hours, while other altcoins may vary.
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Is CoinSpot regulated and secure?
Yes, CoinSpot is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) as a Digital Currency Exchange provider. We use industry-standard security measures including cold storage for funds, two-factor authentication, and SSL encryption.
What payment methods do you accept?
We accept AUD bank transfers, POLi payments, and BPAY for deposits. You can also deposit supported cryptocurrencies directly to your CoinSpot wallet addresses.
How can I contact CoinSpot customer support?
You can contact our support team through the help center on our website, by submitting a support ticket, or via email. Our support team typically responds within 24-48 hours during business days.
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App is easy to use on the go. Keep track of my portfolio and monitor my watchlist. I do wish the Face ID sign in was better and also the widget but minor annoyances.
Depositted usdt via sol and sold it with market order (Low fee) and within 5 minutes already able to withdraw my aud directly and withdrawn into my bank account
I had been depositing into my casino using coin spot for years now and yesterday I made withdrawals to my coin spot,some appearing.. others.. did not. They locked down my account and froze all transactions.. after hours of trying to get someone to contact me and cancel pending transactions and just send them back to my casino and hours later when the money was finally approved and realised it was not sent back to my casino as requested but sent to address I pleaded with them not to send it too. here's no contact phone number to be able to contact anyone when help is required .. no assistance . Couldn't even get a callback from anyone in regards to almost 60k I just won.. being held . Frozen.. being inconvenienced to the point I m a grown man and they had me pleading with them for help.. with no help in any way in site. Their site is a scam, they offer no security.. no seed frse protection.. no live help and no assurance that if U use them that it money is safe as I'm currently out 60k and coin spot refuse to help me all I'm met with is.. all transactions are final and complete and nothingqcan be down. After years of using coin spot .. I highly recommend that your find an alternative crypto don't no why they have said it's ok it's far from safe worst experience I have ever had turned a good win to a bad experience maybe this site might be good to get people not to play pokies once again the government is involved says scam to me
I brought coin spot at 4.1 with there there mark up it turned to 4.5 that is basically $1500.00 they made of me these guys are a scam in my eyes,now ill be going else where 🤬🤬🤬
Do not trust them.
Tried to send my own money from CoinSpot to my MetaMask wallet. They then put my withdrawal on hold and call multiple times to ask questions such as “why are you transferring the money”, “who are you sending it to”, “what are the NAMES of other people that have transferred to that MetaMask wallet”. The fact that they are asking for names of other wallets is concerning, what are they doing to do with that information?
They tried to make me jump through hoops and provide confidential information to transfer my OWN money to my OWN wallet. They are contradicting the whole point of cryptocurrency and are acting like a bank.
The situation took hours to try and sort out, I needed the money transferred ASAP.
They ended up blocking my account from being able to make withdrawals. Also ended up paying over $50 in fees over this whole ordeal, including fees to then send the money in fiat back to my own bank account.
Do not trust them and use another exchange under all circumstances. They are untrustworthy scammers just wanting control and fees.
They scamed me for fees al I wanted to do was buy some crypto send it to my self I swaped the aud to usdt they charge me $20 in fees wouldn’t allow me to send it to another wallet, highly recommended to stay away from them
Just made my first withdrawal to bank account. No issue saw my bank account got the fund within 1 min from clicking the emal verification.. no issue previously to withdraw coin to external wallet. Price a bit high but worth it if u know that they wont steal ur fund.
WARNING: CoinSpot Hijacked My Crypto and Locked Me Out – DO NOT TRUST THEM
I was a loyal CoinSpot user for over a decade—since 2013. I’ve traded, sent, and received crypto without issue. I’m not a novice: I’m a seasoned investor and Web3 developer, with over 12 years in the crypto space. I use secure offline wallets, I’ve authored whitepapers on smart contracts, and I know how to protect my assets.
But two days ago, CoinSpot turned from a trusted exchange into a nightmare.
I attempted a routine transfer of 10 XRP to my Ellipal cold wallet to test a new Web3 app I’m building. CoinSpot blocked the transaction, froze my account, and banned me from withdrawing any funds—crypto or fiat. Their reason? They suspected I was being scammed. No evidence. No due process. Just a blanket restriction.
I was forced to re-onboard like a new user, told the transaction would be approved. It wasn’t. The XRP vanished from my account, never appeared on the blockchain, and support refused to help. A “specialist” finally called—only to inform me my account was permanently restricted. They threatened to report my cold wallet address to other exchanges and have it blacklisted unless I moved all my assets back to CoinSpot.
They claimed transferring crypto to my own offline wallet was a “financial crime.” Let that sink in: CoinSpot now considers self-custody a criminal act.
Then came the email: I could no longer withdraw unless I submitted a full justification—ID, bank statements, crypto account details, and proof I wasn’t being scammed. Even then, they reserved the right to deny access and confiscate my funds without explanation.
🚨 This is not protection. This is coercion. This is asset seizure.
CoinSpot has now closed my account with my funds still inside. Worse, all my Ellipal wallet addresses have been blocked from sending or trading. I now get “Invalid Sender” errors across all my offline wallets—effectively locking me out of millions of dollars in crypto.
I am currently seeking legal advice and filing formal complaints with AFCA and ASIC.
CoinSpot claims they’re protecting users from scammers. But from where I stand, CoinSpot is the scammer.
If you value your financial freedom, privacy, and control over your own crypto—stay far away from CoinSpot.
They are no longer a safe exchange. They are a risk to your assets.
Just new to all this so all that I can say is it's exciting and risky but if it takes off I would rather be onboard the train when it takes off, I have $500 invested with nephew on his account as a tester 108 coins in total and next investment will be on my account but too early pull the trigger again so hope I was helpful bye for now.
Over 0.11 BTC stolen — CoinSpot failed to protect my funds
In late June 2025, over 0.11 BTC was withdrawn from my CoinSpot account without my authorization. I had 2FA enabled, but I never received any withdrawal confirmation email. CoinSpot claims one was sent, but it never reached any of my inboxes, and they have not provided any evidence that one was actually delivered. I still don’t know whether it failed to send or was intercepted or deleted by hackers.
This withdrawal was highly unusual for my account — I typically only deposited $1,000–$2,000 at a time and had never made a withdrawal of that size. CoinSpot’s system did not flag or block it.
It’s ironic that CoinSpot can be very strict with compliance for small transactions, yet this large, abnormal withdrawal went through unchecked.
Their response was disappointing: no accountability, no evidence that adequate protections were in place, and a tiny goodwill offer that doesn’t come close to what was lost.
In my opinion, CoinSpot’s system failed to safeguard my assets at multiple levels:
I received no alert or confirmation before the withdrawal.
The size and nature of the withdrawal were completely inconsistent with my trading history.
They have not provided any logs or proof that a confirmation email was actually delivered.
I’ve filed reports with the relevant authorities.
If others have experienced something similar, please get in touch. I believe this may be part of a broader issue — and the more we share, the better chance we have of accountability.
Unverified accounts have a $2,000 AUD limit, while verified accounts can trade up to $5,000 daily initially. Higher limits are available upon request and additional verification for established users.
Do you offer a mobile app?
Yes, CoinSpot offers free mobile apps for both iOS and Android devices. The app provides full trading functionality, portfolio tracking, price alerts, and secure access to your account on the go.
Can I set up recurring cryptocurrency purchases?
Yes, CoinSpot offers a recurring buy feature that allows you to automatically purchase your chosen cryptocurrencies at regular intervals. You can set up daily, weekly, or monthly recurring purchases through your account dashboard.
About CoinSpot
CoinSpot is an Australian cryptocurrency exchange platform that allows users to buy, sell, and trade various digital currencies. The platform typically offers a range of cryptocurrencies and provides wallet services for storing digital assets. CoinSpot generally caters to both beginner and experienced cryptocurrency traders through its web-based interface.
