CoinSpot is the most widely used crypto exchange in Australia, with over 2 million users, and they continue to remain the most popular even after 9 years of operation. Crypto.com is a newer cryptocurrency app that is growing incredibly quickly, due to their excellent features and their free Visa debit card. How can you choose which one of these to use for your crypto trading? It comes down to what type of crypto investor you are. If you are completely new to cryptocurrency, then CoinSpot is the one you want to choose. It is incredibly simple to use, with a basic interface and excellent live chat customer service. For those that have a little bit of knowledge of crypto, I would suggest you use Crypto.com app. The fees are lower and there are many more options and features you can explore. Read on to learn about the differences between these two crypto platforms, and you can make up your own mind. 

Header

Coins

360+

250+

Trading Fee

Market buy: 0.1%; Instant buy: 1%

Included in the spread

Deposit Fee

Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5%

PayID, BPAY: Free,

Credit/Debit card: 3.50%

Withdraw Fee

Free

Free

Deposit Methods

Bank transfer, POLi, PayID, OSKO, BPAY, Cash deposit

PayID, BPAY,

Credit/Debit card

Features

- Most secure and trusted exchange in Australia

- Live Chat support 

- Easy for beginners to use

- Crypto lending and borrowing

- Stake 47 cryptocurrencies

- Free Visa debit card to access many benefits

Disadvantages

- No staking available

- Higher fees than Binance

- Desktop exchange is limited

- Fee for credit/debit card use is too high

Cell
Header

Coins

360+

250+

Trading Fee

Market buy: 0.1%; Instant buy: 1%

Included in the spread

Deposit Fee

Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5%

PayID, BPAY: Free,

Credit/Debit card: 3.50%

Withdraw Fee

Free

Free

Deposit Methods

Bank transfer, POLi, PayID, OSKO, BPAY, Cash deposit

PayID, BPAY,

Credit/Debit card

Features

- Most secure and trusted exchange in Australia

- Live Chat support 

- Easy for beginners to use

- Crypto lending and borrowing

- Stake 47 cryptocurrencies

- Free Visa debit card to access many benefits

Cons

- No staking available

- Higher fees than Binance

- Desktop exchange is limited

- Fee for credit/debit card use is too high

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CoinSpot vs Crypto.com Features

CoinSpot is a simple and beginner-friendly crypto exchange. The purpose of CoinSpot is to make it possible for all Australians to get started with cryptocurrency, and they have done this well. Ever since their establishment in 2013, they have continually grown, and in 2021 they reached a 2 million user milestone. CoinSpot is very easy to use, and even someone that has never bought crypto before can work out how to do so easily. If you encounter any difficulties, the live chat customer support team is right there to assist you. There are over 360+ different cryptocurrencies which you can explore at your own pace and you will definitely find one that you want to invest in.

Crypto.com is a feature-rich crypto app, and gives plenty of options for users to explore. There is staking on 47 coins, crypto borrowing and lending, and an NFT marketplace. There's a feature called Supercharger, where you can use your CRO (Crypto.com's native coin) to earn new cryptocurrency similar to staking, but you are rewarded in a different coin, eg: LUNA, ETH, SHIB. They have daily missions where you can check in and receive a free diamond each day, and you also receive diamonds for completing other tasks such as reading an article, or buying crypto. When you save up 25 diamonds, you can open a virtual box which will contain an amount of CRO, ranging from less than 1 up to over 1000. The best part of Crypto.com is their Visa debit card which gives you access to plenty of benefits such as 100% reimbursement of Netflix and Spotify fees, 10% back on Airbnb and Expedia bookings, free airport lounge access, and up to 8% cashback in CRO for every purchase you make with the card. The Visa debit card only uses AUD that you top up, so you are not spending any of your crypto, meaning there's no conversion fees whatsoever.

Features: Crypto.com wins the section on features, because there is so much for their customers to access. CoinSpot is more basic, but is suitable for complete newbies to crypto, as they don't have to worry about being overwhelmed.

Number of Coins

CoinSpot offers more than 360+ cryptocurrencies and they regularly add coins to their range.

Crypto.com has over 250+ cryptocurrencies on offer.

Coins: CoinSpot has 360+ cryptocurrencies, which is the most in Australia, making it the winner. Crypto.com still has a reasonable selection of more than 250+ coins.

CoinSpot vs Crypto.com Fees

CoinSpot charges a small fee when you deposit using BPAY (0.9%) or cash deposit (2.5%) but the other methods of Bank transfer, POLi, PayID and OSKO are free of charge.

Instant Buying and Selling on CoinSpot will cost 1% per transaction. You can access lower fees of 0.1% if you trade on the market, but you can only trade 15 different coins. For all other cryptocurrencies, you can only access them through instant buy and sell, for 1%.

All AUD withdrawals from CoinSpot to your Australian bank account are free.

Depositing AUD using PayID and BPAY on Crypto.com is free of charge. If you prefer to use a credit or debit card, there is a 3.5% fee.

There are no explicit fees when you buy or sell crypto on Crypto.com, but the fee is included in the spread.

When you withdraw AUD to your bank account, there is no charge.

Fees: Crypto.com and CoinSpot both have fee-free deposit methods and free withdrawals. Crypto.com has lower trading fees, even after you consider the spreads. This comprehensive test from top Australian review site Marketplace Fairness shows the difference in fees clearly.

Deposit Methods

CoinSpot accepts the following payment methods: Bank transfer, POLi, PayID, OSKO, BPAY and cash deposit.

Crypto.com only accepts payment via BPAY, PayID, credit card and debit card.

Deposit Methods: CoinSpot has more options for users to deposit, but if you prefer to use your credit or debit card, Crypto.com supports this, but it is not accepted on CoinSpot.

CoinSpot vs Crypto.com Security

CoinSpot is known for being the most secure and trusted crypto exchange in Australia. It is a big claim, but it is backed up by their ISO 27001 certification, their 2 million users, and certified membership to Blockchain Australia. With all their security measures such as session timeouts, anti-phishing phrases, 2FA, geo-lock logins and custom withdrawal restrictions, it is easy to see why CoinSpot is the safest crypto exchange. They also store the majority of their crypto assets in offline cold storage to ensure it is safe from hackers. Since their establishment in 2013, CoinSpot has never been hacked, a testament to their security systems.

Crypto.com takes security very seriously, holding 100% of customers' digital funds offline in cold storage, thanks to Ledger Vault's institutional-grade custody. Their hot wallets contain corporate funds only, that are used for fulfilling users' daily withdrawal requests. Crypto.com received the ISO/IEC 27701:2019 certification in 2020, making it the first cryptocurrency platform to be awarded this. They also carry insurance on their crypto assets of up to $750 million which protects users against physical damage, destruction and third-party theft.

Security: Tie. Both exchanges are extremely high in security, with ISO certifications and storage of cryptocurrency offline in cold storage. You can trust that your funds are safe with either of them.

CoinSpot Pros & Cons

Pros
  • Australia's largest crypto exchange
  • Very easy to use, great for newcomers
  • Over 360+ coins available
  • Instantly buy/sell crypto or trade on the market
  • Live Chat Support
Cons
  • No staking available
  • Higher fees than Crypto.com

Crypto.com Pros & Cons

Pros
  • Fastest growing crypto app
  • Over 250+ coins supported
  • Stake 47 coins to earn interest on your crypto
  • Free Visa debit card with benefits like free crypto cashback
  • Extra features like crypto lending and NFT marketplace
Cons
  • 3.5% fee for debit/credit card
  • Cannot trade AUD on desktop version

Conclusion

CoinSpot and Crypto.com are top picks for a cryptocurrency platform, and the one you should use will depend on your specific needs. If you are completely new to the crypto industry, I would suggest you try out CoinSpot, which is perfectly suited for beginners. The layout and the interface is easy to navigate, and there is always live chat on hand if you run into any issues. If you are somewhat comfortable with cryptocurrency then I suggest Crypto.com as the app for you. There are a lot more features that you will find on there, such as staking, and earning interest through other means, like crypto lending. You can even buy NFTs on Crypto.com if that is something you are interested in. If you are undecided, or want to find out more information, read my article about the best crypto exchanges in Australia.

About the author 

Luke Campbell

Luke is an early adopter of cryptocurrency, and was buying and using Bitcoin back in 2011. He has seen the landscape of cryptocurrency change over the years, and firmly believes we are still in the early stages of mainstream crypto adoption. Luke is fascinated about the potential of the metaverse, and invests in virtual real estate.

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