I’m just going to be doing a review on coinspot. Com au review is going to be sharing with you what I think of it honest review on coinspot for you guys and I’ll leave some tips at the end of the articles on review on coinspot. If you guys have any questions at all, you can leave comments below.
Overall, I appreciate it. Thank you very much for that. And so I’m just going to get started with this review really quickly. I just want to go over some key things right away that a lot of people might have a lot of might have questions about when you’re buying. It’s a simple, easy interface to use the coin spot interface. It’s simple and it’s not really complex. It’s very beginner friendly and yes, I’m just going to get started with you guys. So first up I want to explain like there’s multiple options for you to buy. There’s multiple coins to buy at the moment and I think it’s over like 100 over 102 coins that you can buy. I’ve had no issues at all when buying and selling and withdrawing to over 100.
As you see lots of options for you guys to buy and so on. They also have multiple payment options for you guys to deposit. So if you’re looking to deposit money into coins, but it’s very easy to use deposit. As you can see, there’s mainly two options that I would choose from that I would pick, but there is more options that you can go with, but I don’t recommend BPAY or cash deposit or direct deposit because there is more extra fees on top of what already. Of what fees you’re already paying.
You’re already paying a 1% fee to buy and sell and swap. So I recommend you go with Poly or pay idea as it is 100% free. There’s no fees involved. If you’re looking to buy a Polly, you just tell them what bank you are. Let’s say you’re a me bank. You just click continue to Polly and now you just continue and the transaction login. It’s very easy to use and easy now. I want to go over the drawing and the buying and selling. So the buying and selling is very easy.
Once you deposit the money, you can buy really easily from just having it like it displays in AUB. If you want, you can display it in BTC how much you want in BTC or you can display it in how much Aood let’s say you want to buy $10 worth so it actually displays to you below at the market price. That quick Bitcoin is at right now. Then once you’ve done that you decide you want $10 worth. You just come up with this and then you just confirm the payment and it will tell you the 1% fee as well.
So out of the ten dollar. Once you’ve done that, you just confirm the buyer and you should have the Bitcoin instantly in your wallet. The same thing to sell is really easy as well. You just would come to the same thing. You would click the wallet, the wallet or buy and sell both work just fine. And then you just tell them how much you want to sell. So you want to sell Australian again. So you want to click it to Australia, make sure you want to sell $10 again.
So it tells you how much you’ll get for that $10 again depending on the market price at the time. And once you’ve done that, you just do the same thing. You confirm the sell and then you should have the amount of money come up here. So it’s very easy to use. Very easy to buy and sell. Dropping is like same thing. You just come here, you can swap to any coin that you want. So if you have a theorem and you want BTC, just put it in here. Now it will tell you how much you get. Let’s say you want to swap one theorem and how much will you get for one theorem to BTC to be caught. So for one Ethereum you will get zero points.
You get this much, it will tell you how much Ethereum is worth per Ethereum. So I hope you guys understand the aspect. Of course swapping is a bit more complex because you have to work out values and that sort of stuff if you want to go into that more. But I’ll just make it simple and easy to put in. How much I want to sell. That one of the theory and I want BTC. Now they do have like bundle options here as well. So if you want to diversify your income, you can use this option as well. It allows you to buy a certain amount of coins. So let’s say you want to buy the top 20 coins. You can set up how much you want to buy, but I personally don’t use bundles. I normally do my own research and buying the coins that I believe.
Of course it’s all up to you. You can do this if you like, if you wish, but it’s totally up to you. So also if you want to look now look into the security side of it. Security size is pretty good. You have multiple ways that you can secure your account. As you can see, you can disable. You can have SMS, you can have two factors. You can have session time out for how long you can be on. So let’s say you want to set it to 20 minutes and then it’ll automatically log you out of your account at anti fiddishing or whatever it’s called. So this can help you out. If you do download something that might have like a virus or something in it, then you have like disabled drawers so you can just disabled draws. And I’m sure if you do contact live chat, they’ll ask you multiple questions.
They want to know who you are. Ide whatever bone certification. So that’s another security. So the security system is pretty solid in this. You have multiple ways account. We’re at the point where it’s pretty much impossible to hack it, but nothing is impossible if it gives you a bit of peace of mind. It’s something that you do. This can actually just see, like the vertification and stuff like that. So you do need to actually vertify your account before you can deposit money withdrawal. That’s one thing that I’ll talk to at then. So this just shows you the order history when you’re bought and sold and all that sort of stuff. Withdrawal. I think this doesn’t show the withdrawals, but as you can see, I’ve made a cup a lot of transactions on my account.
You want to go to withdraw if you want to see it should be around here somewhere. There we go. Which raw so you can see which raw money as well. So that’s just another way you can do it all the way I can show you. Like if there’s anything else you want to know, you can leave a question below. If you guys do want to sign up under me, I will leave the link below as well. Thanks. I really appreciate that. So I want to go into the customer support as well. The customer support is actually really great. I contacted them multiple times and I got a reply on this instant.
They are like live during. They do tell you times that they’re actually on. As you can see, they’re very active and 05:00 p.m. On weekends, which is not bad at all. You can also put in a ticket as well if you like to do it that way. So the support is great. I do have no issues. There five customer support now. It does actually also allow you to set up alerts. So if you want to know if something drops, let’s say you want to know when Bitcoin drops to $14,000 or something. It can let you know, like if it does drop for that price, then you could set up then you could jump on and like, sell or buy whatever you want to do. I just also want to go into the fact that you can set up recurring buyers as well, which is really easy to do. So you just want to tell them what coin you want to set up. It can be any coin that they have available. What date you want to start? Maybe you want to start at this date this time or weekly or monthly and tell them how much you want to buy and you’ll just instantly buy that every single week or whatever time you want to set it up. Really easy to set it up. So very easy.
Beginner friendly. Once again, which is what Coinspot is all about. And that’s great because a lot of this stuff can get confusing at times, like with the exchange. So yeah, buying and selling is very instant, and it is really easy to buy and sell on this platform as it is very begin spending, like I said, and then you have things like fees that you can go into right below. Here. The fees are like 1% for buying and selling and swapping a coin, and then you have fees that it tells you deposit fees depending on what payment option you use and then wallet fees as well for, like, swapping around walls or something like that.
I’m not really worried about that. I just buy and sell from this one exchange. I’m on other exchanges, but yeah, I buy myself in this exchange and I withdraw into my ledger. So I want to go into the factors, the good and the bad, the some of the factors that are a little bit annoying to me, maybe some other people. So this is not just coming from me, but I’ve heard from other people. One thing that people get annoyed is the fact that they don’t have an app on the app store, so you have to actually manually go on Google and search it up and then log in from Google, which some people it does get annoying me personally, it’s fine, and I’m not really too worried about it.
And I’m pretty sure the reason they don’t do that is because of security reasons. So it’s not that they don’t want to do it, but it’s just more secure that they have it on the Web. Another factor that is a little bit annoying is that you can’t buy it directly with your debit card or your credit card. Now, this is something that I wouldn’t mind them having, but they don’t have it at the moment, but that’s something a lot of people would probably find way more convenient. And I kind of agree with that. So also, fees can add up over time if you’re buying a large amount. So that’s one issue that a lot of people also have is the fees can add up to thousands of dollars if you’re buying a large sum of money of worth of cryptocurrency, so it can add up to a lot of money overall. When you buy a lot, it’s probably best not if somebody is looking to buy a lot of cryptocurrency. It will be difficult for that for you to do that without paying a lot of fees. But then again, it’s convenient.
And it’s one of the most secure exchanges in Australia that call you up and they call you. If I remember quickly, you have to show like a little piece of paper, like saying you’re signing up or something like that. They might have changed it, but the vertification at the time was pretty annoying, but maybe they have changed.