CoinSpot review

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In Australia, CoinSpot is the leading cryptocurrency exchange today. If you are new to digital currency trading, you must have heard about this popular trading platform from your peers. You should not think twice because CoinSpot can assure you that you are in good hands.

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If you are an experienced cryptocurrency trader, you must be well aware that purchasing and selling digital currencies were quite a hassle in the past. One of the inconveniences you must have encountered was the limited number of virtual coins available in most of the cryptocurrency exchanges. You must have felt that you deserve better because you believe you can relish trading other digital currencies other than the conventional Bitcoin, Litecoin, and Ethereum’s Ether.

Furthermore, as a seasoned virtual currency trader, you must have experienced getting glitches during the cryptocurrency transfer process. Well, today is the day that you have made the right decision! Joining CoinSpot will genuinely give you a whole new and improved experience. Hence, read on to discover how you can make the most of your hard-earned investment money!

 

A) History of the Cryptocurrency Exchange

 

In December 2013, Russell Wilson established CoinSpot in Melbourne, Australia. He set up the cryptocurrency exchange utilising his existing Australian Business Number (ABN). Wilson obtained his existing ABN from his information technology consulting career. Also, Casey Block Services Proprietary Limited is the enterprise running CoinSpot. Its ABN is 19 619 574 186.

Wilson has managed CoinSpot as a sole trader. Also, the cryptocurrency exchange’s founder registered the business one year after opening it. Then, in 2017, CoinSpot began to expand, with its team members increasing substantially. That time, virtual currency trading continued to gain popularity in Australia as well.

With a concentration on robust security, Wilson’s virtual currency exchange has grown its customer base. Over the years, traders believe and have witnessed CoinSpot as the most trusted and secure cryptocurrency trading platform. Hence, as of 2020, it is now the number-one digital currency exchange Down Under!

 

B) Advantages of Trading Digital Currencies in CoinSpot

 

You will surely feel proud if you join CoinSpot. The cryptocurrency exchange is the leader in the digital currency trading business today. You can relish the following benefits:

1.Beginner and seasoned traders will find the platform user-friendly.

CoinSpot is a digital currency exchange that is quite easy to use. Anyone interested to engage in cryptocurrency trading can enter the market effortlessly.

2.You can feel completely secure when trading on the platform.

Using bank-level security in the system, you can trust CoinSpot in safeguarding your personal and financial data. Its security features guarantee that the platform has little chances of getting hacked.

Moreover, the Anti-Money Laundering and Counter-Terrorism Financing Act and CoinSpot’s registration under the Australian Transaction Reports and Analysis Centre (AUSTRAC) – Digital Currency Exchange further the cryptocurrency exchange’s dependable nature.

3.You can buy and sell cryptocurrencies using the Australian Dollar.

At CoinSpot, you will not have a hard time trading digital currencies because you can utilise the local currency.

4.You can choose from a tremendous selection of virtual currencies available.

Wilson’s brainchild has the most massive selection of cryptocurrencies. You can purchase more than 100 virtual coins using Australian Dollar and trade between them.

5.Deposits, withdrawals, storage, and sending of virtual currencies are seamless.

CoinSpot offers a wide range of choices when you withdraw or deposit funds. Besides, you get the freedom to send your virtual currencies to other digital devices or platforms with zero restrictions and whenever you desire.

CoinSpot offers a multi-cryptocurrency wallet system, too, and it features built-in trading advantages. With its massive amount of support for ERC-20 wallets, you can keep your cryptocurrencies safely in escrow and transfer them whenever you need to do so.

As you can see, CoinSpot is genuinely revolutionising the cryptocurrency trading market. With its strong concentration on security, you do not have to think twice of starting to trade in this virtual currency exchange. So, start trading now!

 

C) How to Begin Trading at the Cryptocurrency Exchange

 

Purchasing, selling, trading, and switching virtual coins are incredibly effortless at CoinSpot. You can begin engaging with this most trustworthy digital currency exchange through the following easy steps:

1.Create your account.

When you set up your trader’s account in CoinSpot, you also need to enable the Two-Factor Authentication or 2FA. This measure is a component you need to perform when you log in to your account.

2.Verify your credentials.

The cryptocurrency exchange requires you to authenticate your smartphone number and e-mail address. Also, you need to fill in all of your personal details and include the necessary documents. The verification process ensures the safety and accountability of the platform’s traders.

3.Link your bank savings account.

Australia’s go-to site for cryptocurrency trading requires you to connect your bank account before you can avail of the virtual coins on the platform. You will need to fill in the necessary bank details, such as the names of the account holder and the financial establishment.

4.Start trading.

Once you have verified your account and supplied your bank account information, you can begin purchasing and selling cryptocurrencies at CoinSpot. The “Go to Buy/Sell” page lists all the virtual coins available at the platform. You simply need to click on “Buy,” fill in the number of cryptocurrencies you want to purchase, or the amount of Australian Dollars you intend to spend.

You can utilise POLi, the online payment service available for Australian cryptocurrency traders. It permits near-instant transactions. Also, you can transfer your digital currency to a hardware wallet if you plan to hold it for a while. If you intend to trade reasonably regularly or engage in day trading, keep trading on the CoinSpot platform to experience the ultimate!

 

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Free quently asked questions

1Is it safe to trade at CoinSpot?

You do not have to feel anxious about your financial and personal data security when trading at CoinSpot. It is because it has the most reputable status out of all the cryptocurrency exchanges in Australia. Plus, Russell Wilson’s virtual currency exchange complies with the Anti-Money Laundering and Counter-Terrorism Financing Act. It completed its registration under the Australian Transaction Reports and Analysis Centre or AUSTRAC as well.

2What does the Two-Factor Authentication or 2FA mean?

As a part of its stringent verification procedure, CoinSpot utilises the popular security method called Two-Factor Authentication or 2FA. Hence, every time you log in to the trading platform, you will have to enter a code on your smartphone. The 2FA makes your account and the cryptocurrency exchange protected against hackers.

3At CoinSpot, how long does a virtual token or coin withdrawal take?

After you have approved the withdrawal confirmation e-mail, you can expect most virtual tokens or coins to get dispatched right away. Withdrawals can take up to a half-day or 12 hours, though most withdrawals of virtual currencies and tokens get immediately processed.