There is no limit on how many trades can be made!
If you have a trade over the limit, simply complete a second trade and the overall fee will remain the same. BTC, ETH, XRP, BCH, EOS, LTC, BNB, HOT, TRX, ADA, NEO - $100,000 AUD limit per transaction.
Your coins will be sold into AUD which will be held in your CoinSpot account. You can then request to withdraw the AUD back to your bank account. AUD withdrawal request will be processed on the same day if submitted before 2pm (AEDT) on a Business Day, (Mon - Fri).
CoinSpot Features
Market Orders: 0.1% OTC: 0.1% Instant Buy, Sell & Swap: 1% Take Profit, Stop & Limit Orders: 1%
Withdrawals are also quick and easy. You can withdraw your funds at any time, and the process is simple and straightforward. 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.
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.
The Services provided by CoinSpot are limited to users resident in the following jurisdiction: Australia. If you are not a resident in that jurisdiction you should cease using our Services.
At a Glance: Converting Bitcoin to cash and transferring it to a bank account can be done through third-party broker exchanges or peer-to-peer platforms. Broker exchanges like Coinbase or Kraken require signing up, depositing Bitcoin, and requesting a withdrawal to your bank account.
Go with a peer-to-peer trade
With an online peer-to-peer trade, you can sell cryptocurrency online in exchange for dollars. These transactions are often facilitated by an exchange, and Binance runs a well-known online peer-to-peer platform called Binance P2P. After agreeing to a trade, the platform escrows your crypto.
To cash out your funds, you first need to sell your cryptocurrency for cash, then you can either transfer the funds to your bank or buy more crypto. There's no limit on the amount of crypto you can sell for cash.
In general, Coinbase does not limit how much crypto you can sell to your Coinbase cash balance (USD, GBP, EUR, etc). Withdrawing from Coinbase will be dependent on the payment method you are using to withdraw.
Capital Gains Tax: If you sold or swapped crypto - including NFTs - on CoinSpot, you'll pay Capital Gains Tax. Although it's referred to as Capital Gains Tax, it's based on the same Income Tax rates - so you'll pay between 0% to 45% tax depending on how you earn.
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.
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 owned and operated by Casey Block Services Pty Ltd (ABN 19 619 574 186).
Unless your bank has set a withdrawal limit of its own, you are free to take as much out of your bank account as you would like. It is, after all, your money. Here's the catch: If you withdraw $10,000 or more, it will trigger federal reporting requirements.
Your ATM Withdrawal and Daily Debt Purchase limit will typically vary from $300 to $2,500 depending on who you bank with and what kind of account you have. There are no monetary limits for withdrawals from savings accounts, but federal law does limit the number of savings withdrawals to six each month.
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.
CoinSpot and Binance are both ISO 27001 certified, use multi-layered security, and allow users to keep their digital assets offline. However, CoinSpot is the winner as it has been a well-established exchange with high security and its customers have never experienced security issues since it was founded.
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.
It has never been easier to send crypto on CoinSpot. Simply go to the Wallets section and locate the asset you wish to send from the wallet list. Select Open Wallet, then click Send, here you will be able to send to your desired wallet address. Frequently used wallet addresses can be saved into a secure address book.