In order to enable withdrawals you will need to upload an Authorisation photo. Your Authorisation photo should look like the example below and include yourself, the photo ID used to verify your account and a handwritten authorisation statement.
Withdrawing AUD has been made easy using the CoinSpot Mobile App! CoinSpot features the use of instant AUD liquidity, which can then be withdrawn directly to your chosen Australian Bank Account! We also offer this through the CoinSpot Website.
The first withdrawal may take up to one business day, after this you can look forward to near instant AUD withdrawals directly to your bank account. At CoinSpot we understand that the ability to easily deposit and withdraw funds is essential for any trader, and we strive to make the process as seamless as possible.
AUD withdrawal request will be processed on the same day if submitted before 2pm (AEDT) on a Business Day, (Mon - Fri). The funds are expected to appear in your bank account the following day. Requests submitted on a weekend after 2pm will be processed on the next Business Day.
Risks of Trading and Holding Crypto or Digital Currencies. The trading or holding of coins, tokens, crypto, digital currencies, or digital assets of the like (collectively "Coins") involves significant risks, the losses can be substantial and any loss and liability you incur is not insurable.
CoinSpot offers Australia's largest variety of digital assets with over 390 coins listed where users can buy, sell & swap benefiting from the lowest fees starting from 0.1%. Trade with peace of mind knowing that CoinSpot has the highest level of globally recognised security certification in Australia.
Industry Best Practice
CoinSpot maintains industry best-practice by securing a vast majority of assets in highly secure offline locations.
Are CoinSpot Fees High? Yes, CoinSpot fees are considered high, with a 1% instant trading fee and wide spreads of up to 2-3% on digital assets, making it one of the most expensive crypto exchanges in Australia.
After a certain period of time, you will receive Earn rewards depending on the amount of coins you have placed in your Earn wallet and the amount of time they have been there. Simply put, by participating in the CoinSpot Earn Program, you are allocating some of your coins in order to receive Earn Rewards.
Simple, flat fee for OTC and market order trades: CoinSpot offers a flat 0.1% fee on all trades, making it reasonably cost-effective for both casual and frequent traders.
In order to enable withdrawals you will need to upload an Authorisation photo. Your Authorisation photo should look like the example below and include yourself, the photo ID used to verify your account and a handwritten authorisation statement.
As for deposit and withdrawal fees, CoinSpot does not charge any fees to withdraw AUD. For crypto withdrawals, CoinSpot will charge anywhere between 0.0003 - 0.001%.
Overview. Russell Wilson is the Founder at CoinSpot.
Most automatically processed coin and token withdrawals from CoinSpot will be processed within a few minutes, but if manual approval is required or our hot wallet has insufficient funds and requires to be refilled via manual intervention, the withdrawal will take longer to process.
Our verdict
CoinSpot is one of Australia's largest and oldest cryptocurrency exchanges with over 350 coins available. Since launching in 2013, the exchange has gathered over 2.5 million registered users. CoinSpot is a solid choice for beginners.
Refer a friend to CoinSpot and you will both receive $10 worth of Bitcoin* after they complete their first AUD deposit. * the amount of Bitcoin (BTC) credited to both parties will be the equivalent value of AUD $10 at the time the referred party completes their first AUD deposit.
CoinSpot's free multicoin wallet provides your very own wallet address for every asset on the CoinSpot exchange. Simply go to the Receive section of your desired wallet where you will find the Generate Deposit Address button.
AUD withdrawals are FREE. CoinSpot does not charge any fees to withdraw your AUD to your nominated Australian bank account. There is also no minimum or maximum withdrawal amount.
Bybit is the #1 cryptocurrency exchange in Australia since it ticks off every box on a crypto trader's checklist. It has more than $10 billion daily trading volume, ZERO fees for Spot Trading, and extremely competitive fees for Derivatives Trading (0.01% for makers and 0.06% for takers).
BTC, ETH, XRP, BCH, EOS, LTC, BNB, HOT, TRX, ADA, NEO - $100,000 limit per transaction. Other coin limits will range from $100 to $50,000 per transaction depending on market liquidity. These limits cannot be raised on each users CoinSpot account.
Hot wallets are extremely accessible and fast due to their internet connectivity, for example your CoinSpot account. Hot wallets like exchanges or other applications normally have high levels of security and provide a greater level of convenience.
When you use the CoinSpot Platform, we ask you for the information we need to verify your identity and support such services provided on CoinSpot in order to facilitate the provision of buying, selling and trading digital currency.