Is coinspot a good cryptocurrency exchange?

CoinSpot is one of the most popular cryptocurrency exchanges in Australia. The platform features several products, allowing users to buy, sell, and swap crypto at competitive fees. However, as with all things crypto-related, it is crucial to consider – is CoinSpot safe?

What happens if coinspot becomes insolvent?

For instance, if CoinSpot was to become insolvent, users might not be repaid in full. And moreover, consumers will not be eligible to claim their funds via the Financial Claims Scheme set up by the Australian government. However, this is not necessarily a cause for concern.

Is coinspot hacked?

Yes, CoinSpot is one of the trusted cryptocurrency exchange platforms and one of the few exchanges that has never been hacked since it was founded in 2013. It is also the first-ever Australia-based cryptocurrency exchange conferred the globally accredited ISO 27001 certification for its robust information security mechanisms.

Does coinspot charge a trading fee?

Typically, Coinspot’s fees do not apply to experienced traders but to newbie traders who have just started their cryptocurrency trading careers using Australian dollars. Every time traders place a trade on CoinSpot, the exchange charges a trading fee of 1% for all- buying, selling, or swapping cryptocurrencies.