1 Level
1 Review
0 Karma
Review on CoinSpot by Kevin Connelly
Neat, reliable and largely transparent Australian exchange
Overall I like the platform as an exchange.
Definitely a good exchange for beginners through and casual traders in Australia.
Can't say that I monitor short term coin performance through the platform or complete my research through it, given it's website is really designed around ease of use and generic insights rather than robust analysis.
With 1% fees on transactions, it's a bit expensive and will likely remain so until more competition catch up in Australia.
The only time I wouldn't recommend it is for anyone looking to do quick currency swaps on coins with volatile movements, as the trades occur below market rate (my personal experience).
This platform does allow you better rates if you manually set a buy/sell order at a particular rate, but this obviously has it's drawbacks from a convenience standpoint.
Despite it leaving me with a bad taste on certain trades, will continue using it for my longer term investments for the moment.
Pros
- Easy to use
- Aesthetic interface
- Well thought out UX
- Fast currency swaps
- Transfers from Australian Banks
Cons
- 'SWAP' section is below market rate
- Wallet has minimal customization for performance tracking
