Review on CoinSpot by Fanuel PORPORTY
Coinspot: An Australian cryptocurrency exchanger
Launched in 2013, Coinspot is a third-party cryptocurrency exchange based in Australia. The platform has an extensive range of supported coins, with more than 100 cryptocurrencies available to buy and sell.
This includes crypto-to-crypto trading pairs, as well as crypto-to-AUD.
The Coinspot platform is rather simple to use, with a clean and crisp interface. The main drawback to using Coinspot for your cryptocurrency needs is that the exchange only accepts fiat deposits and withdrawals from Australian residents. This means that you’ll need to deposit funds with cryptocurrency if you’re based elsewhere.
Pros
- More than 100+ cryptocurrencies supported
- Australians can deposit with fiat currency
- No hacks reported to date
- Very simple platform which makes it perfect for beginners
Cons
- Fiat currency deposits and withdrawals only for Australians
- No regulatory licenses
- No ability to short coins or apply leverage
- Security features are lacking
