Exchange Review

CoinSpot vs Coinbase

Quick-Take: CoinSpot is the recommended cryptocurrency exchange to use for Australian investors due to its competitively low fees and large selection of cryptocurrencies.

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CoinSpot vs Coinbase: Which is the better cryptocurrency exchange? Theres various things to take into consideration when comparing the two platforms and the most important is where you are currently situated. CoinSpot is Australia's largest and most secure cryptocurrency exchange but Coinbase is the largest cryptocurrency exchange in the United States.

In this article we will compare the two platforms and touch on fees, security, supported cryptocurrencies and deposit methods. These are the key topics you want to look for when comparing exchanges.

Exchanges
CoinSpot vs CoinbaseCoinbase vs CoinSpot
Cryptos Available
350+
150
Trading Fees
0.1 - 1%
1.99%
Headquarters
Melbourne, Australia
United States
Crypto Staking
NFT Marketplace & NFT Wallet
24/7 Local Support
Overall Best

Table of Contents

Fees: Which is more affordable?

Although Coinbase is widely regarded as one of the best cryptocurrency exchanges in the world, its shortfall is its high fees. It is well known that Coinbase charges some of the highest trading fees out of any exchange. Their charges go up to 4.5% where as most exchanges charge between 1 - 2% per transaction. CoinSpot on the other hand has some of the most competitive fees out there charging only 0.1-1%.

For fees, we recommend using CoinSpot as they offer some of the lowest available in the crypto space.

CoinSpot Fees

Is CoinSpot safer than Coinbase?

CoinSpot has recently acquired an ISO 27001 certification which makes it an extremely high security exchange. It is the most secure platform for your crypto assets in Australia.

Coinbase however, is ranked the third most secure cryptocurrency exchange in the entire world. Their platform stores a large percentage of its users funds offline for security measures and only a small portion of it remains online and is completely insured. It recently IPO'd on the U.S stock market therefore adding more credibility to it's already reputable name.

For security, we recommend using Coinbase as they are one of the worlds most secure cryptocurrency exchanges.

Supported Cryptocurrencies

This is an important factor to consider when choosing a cryptocurrency exchange. It is critical to have a large selection of cryptocurrencies available on a platform for investors to buy, sell and trade.

CoinSpot doubles its competitors numbers, supporting a total of 350 different cryptocurrencies. Unfortunately Coinbase only offers 150 cryptocurrencies on its platform.

For supported cryptos, we recommend using CoinSpot as it offers various tokens including stable coins, alt coins and meme coins.

Deposit Methods

Unfortunately for our Australian investors, Coinbase only offers deposits via debit card with a huge 3.99% fee per transaction. If you are not based in Australia, there are alternative deposits methods available on Coinbase.

However, CoinSpot offers its investors deposits through various deposit methods which include Australian Bank Transfers, PayID/Osko, Cash, BPAY, POLi and more. Some of the deposit methods are also free, making is hassle free for traders to use.

For deposit methods, we recommend using CoinSpot as they have various methods available for traders to use.

Final Verdict

For our Australian readers, we recommend using CoinSpot as it's Australia's largest and most trusted cryptocurrency exchange. It has won three out of the four topics we covered in this article.

The platform has more than double the amount of cryptocurrencies on Coinbase and it offers free deposits when you use PayID, Osko or direct bank deposit. CoinSpot also has notably lower fees compared to its popular competitor, Coinbase. On top of that, CoinSpot has excellent customer support offering a 24/7 Live Chat option for investors.

Frequently Asked Questions

Is CoinSpot better for NFTs than Coinbase?

CoinSpot offers better NFT features than Coinbase for Australian users. With CoinSpot, you can buy, sell and hold NFTs through their safe wallets. The Coinbase NFT Marketplace is not available for Aussie users.

CoinSpot or Coinbase for Aussie investors?

CoinSpot hands-down. As a local exchange, they offered the most tailored experience for Australian investors from your first deposit, through to your first trade.

Visit CoinSpot

Author Bio

Timothy Wilson was a former Prop Trader for a notable crypto trading fund based in Hong-Kong. He built BCA after deciding he wanted to focus his career on educating new users about Crypto and DeFi.

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