Sirwin
Sirwin
CoinSpot

CoinSpot- a straight shooting review

By jimmy09 | James Clarke | 30 May 2022


The first ever cryptocurrency exchange that I joined was CoinSpot. The reason was quite simple, crypto was beginning to become hot, and it was an easy exchange to sign up too. Do I regret being hasty and not thinking about my options? Yes. Do I think CoinSpot is a bad option? No, not in the slightest. It has done everything a beginner needs an exchange to do, and while there are better ones around, I think it is a fine option for most people.

Recently the platform has undergone some changes, but at the end of the day, it's features are still the same.

CoinSpot Review - Aussie Exchange Offers $10 Free Bitcoin | EveningStar -  Everying Crypto

Pros:

Easy to use interface:

If you say that the CoinSpot interface is difficult to use, then I believe you better leave the realm of crypto while you have money. I have found that both on the mobile and desktop app, the experience is pretty darn good. I have never had a bug, everything is fast and the layout is incredibly intuitive. If you need to go somewhere, the menu will likely take you there with a single click.

Can buy bundles:

While there are other exchanges that do this, I still believe that it is a great addition. When you buy a bundle you can get a bunch of different coins all in the same order. This means that when you want to just spread your risk, you don't have to go to each individual coin and place an order, you just buy a bundle. There are numerous bundles, with each one offering something different. Some are just the biggest coins, while others are more left-field, giving you exposure to certain blockchain sectors. 

Large amounts of coins to choose from:

Nearly every coin that is worth knowing about can be found on CoinSpot, and if the one you want right now isn't there, it likely soon will be. In the time that I have been using the platform, the amount of additions to the platform has been extensive, and likely will be in the future too. If you wish to get into more obscure coins there are platforms that are designed specifically just for this, so I would only use CoinSpot for the more 'bluechip' coins.

Cons:

Fees:

Yes, they have to make money somewhere, but there are many are many exchanges that now have lower fees. However, I look at this as a benefit. It forces me to be a longer term investor which has always turned out to be the better option for me. Instead of trading around a position, I just hold it, and this generally yields better results. So yes, I would prefer no fees now, their simple existence has changed the way I trade for the better. 

No Earn option:

Something that I like about some other exchanges is that they now offer 'earn' programs. You get the chance to stake coins and earn a decent return, along with any capital gains that eventuate. I have no idea whether they will be adding this option and I really hope they do, as it makes the crypto experience far more complete.

 

Overall, CoinSpot does have some faults, but it remains a safe, secure, and very reliable platform that continues to perform. I would give it a solid 7.5/10 and recommend it to anybody that wants to begin in cryptocurrency.

 

If you think CoinSpot is the option for you, join the platform with this link- https://www.coinspot.com.au/join/REFM55HV2 

Both of us will get $10 in Bitcoin, with no strings attached!

 

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jimmy09
jimmy09

A teenager who is highly interested in the area of cryptocurrency as a future global currency and the technological implications of blockchain.


James Clarke
James Clarke

A teenager who has discovered the world of crypto and has become hooked. I look forward to the future of this exciting technology!

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