What Is CoinSpot?

CoinSpot is an Australian cryptocurrency exchange, established in 2013, where you can buy, sell and swap more than 470 cryptocurrencies with Australian dollars (CoinSpot, October 2026). To get started you register with an email address, verify your identity with an Australian mobile number and a passport or driver’s licence, deposit AUD (PayID is the most common instant option) and then buy from the Buy/Sell menu.

Key Takeaways

• You need to be at least 16, with an Australian mobile number and photo ID, to verify a CoinSpot account.
• PayID and direct deposit are instant options for AUD, though first or large deposits can be held by your bank.
• CoinSpot is AUSTRAC-registered and, since April 2026, holds an AFSL with a non-cash payments authorisation.
• Turn on two-factor authentication before you deposit.

Is CoinSpot Australian?

Yes. CoinSpot is run by Casey Block Services Pty Ltd (ABN 19 619 574 186), trading as CoinSpot, according to its terms of use. On its own site CoinSpot describes itself as a Melbourne based company, established in 2013, with ISO 27001 certification for information security. You can check the ABN yourself on the Australian Business Register (ABN Lookup). Checked 5 November 2026.

• Many long-term holders move larger amounts off the exchange to a hardware wallet.

Is CoinSpot Regulated in Australia?

According to CoinSpot (CoinSpot Help Centre), it has been registered with AUSTRAC, Australia’s financial intelligence agency, since 8 May 2018, which means it must run an anti-money laundering program and verify customers’ identities. Since 29 April 2026 it also holds an Australian Financial Services Licence with a non-cash payments authorisation, regulated by ASIC. CoinSpot also says it holds ISO 27001 certification for information security and keeps most customer assets in offline storage (CoinSpot Security).

Registration and licensing set minimum standards. They do not guarantee an exchange against hacks, outages or business failure, which is one reason many investors use a self-custody wallet for long-term holdings.

How to Open a CoinSpot Account

1. Go to CoinSpot and select Register.
2. Enter your email address and a strong, unique password.
3. Confirm your email address from the link CoinSpot sends you.
4. Select Complete Verification to start verifying your identity.

How to Verify Your CoinSpot Account

Verification is required by Australian anti-money laundering law before you can deposit or withdraw AUD (CoinSpot Help Centre).

1. Choose This is a personal account and enter your details, including your Australian mobile number.
2. Upload your ID document, such as a passport or driver’s licence, as a JPEG or PNG image.
3. Select Submit for Verification, then verify your mobile number when prompted.
4. You will see your verification status on screen. A CoinSpot team member may call to confirm your details.

Deposit limits depend on your verification level. You can request a higher limit from the verification page if you need it.

How to Deposit AUD Into CoinSpot

CoinSpot lists these AUD deposit methods (CoinSpot AUD Deposit FAQ and CoinSpot):

Method	Typical timing
PayID	Instant (first or large deposits may be held by your bank)
Direct deposit (Osko)	Instant (first or large deposits may be held by your bank)
BPAY	0 to 2 business days
Card, PayPal, Apple Pay, Google Pay	Instant
Cash deposit	Instant

Fees and limits differ by method and change from time to time, so check CoinSpot’s fees page before you deposit.

Depositing with PayID

1. From your CoinSpot dashboard, select PayID in the quick deposit menu to see your PayID email and reference.
2. In your banking app, pay a new payee using the PayID email address shown.
3. Copy the reference from CoinSpot into the description field exactly.
4. Pay from your own personal bank account. CoinSpot cannot accept payments from someone else’s account (CoinSpot).

How to Buy Crypto on CoinSpot

1. Select Buy/Sell from the top menu.
2. Select Buy next to the coin you want.
3. Enter the amount in AUD or in the coin.
4. Review the details, including the rate and fees, and confirm.
5. Check Wallets to see the coin in your balance.

CoinSpot also has a Swap option for exchanging one coin directly for another.

How to Sell Crypto for AUD on CoinSpot

If your crypto is in your own wallet, send it to CoinSpot first. Go to Wallets, select the coin and generate a deposit address. Check that the network you send on matches the network CoinSpot shows for that coin (CoinSpot). Then:

1. Select Buy/Sell, then Sell next to the coin.
2. Enter the amount and choose AUD.
3. Review and confirm the sale.
4. Withdraw AUD to your nominated Australian bank account.

CoinSpot Fees in Australia (Checked November 2026)

CoinSpot charges a different fee depending on how you trade. These are the rates on CoinSpot’s fees page, checked on 2 November 2026. Fees change from time to time, so confirm them before you trade.

What you do	Fee
Market orders (trade with other users on CoinSpot Markets)	0.1%
OTC desk (larger trades)	0.1%
Instant Buy, Sell and Swap	1%
Take profit, stop and limit orders	1%
Recurring buy	1%
AUD deposits by PayID, direct deposit, card or PayPal	Free
Cash deposit	2.5%
AUD bank withdrawal	Free
Sending crypto to an outside wallet	Flat network fee shown on the wallet page

The simple Buy/Sell button is the Instant option at 1%. If you are comfortable placing an order on CoinSpot Markets, the same purchase costs 0.1%.

Comparing exchanges? Our CoinSpot vs Coinbase guide sets the two side by side on fees, AUD deposits, coin range and regulation in Australia.

Moving Crypto From CoinSpot to Your Own Wallet

To send crypto to a self-custody wallet, open the coin in Wallets, choose to send, paste your wallet address and select the correct network. Send a small test first. Our guides to Ledger Live (now Ledger Wallet) and Phantom wallet show the receiving side step by step.

CoinSpot for SMSFs and Larger Trades

CoinSpot offers accounts for self-managed super funds and an over-the-counter (OTC) desk for larger trades. SMSF rules are strict, so get advice from your SMSF accountant or adviser before investing super in crypto.

CoinSpot Security Settings

CoinSpot offers two-factor authentication (2FA), custom withdrawal restrictions and session timeout settings under Account, then Security (CoinSpot Security). Turn on 2FA with an authenticator app before you deposit, and use a unique password.

Before You Buy

Opening an account is the easy part. Deciding what to buy, how much and when to take profits is where most people struggle. Our free crypto investing guides walk through those steps in order, and our latest insights cover what is moving in the market.

Want the key facts about Collective Shift in one place? See our Collective Shift facts page, or browse more guides in Collective Shift Insights.

General information only. Collective Shift provides research and education, not personal financial advice. We don’t manage your money or hold your crypto. Consider your own circumstances and speak with a licensed adviser and a registered tax agent before acting. Digital assets are volatile and you can lose money. Past performance is not a reliable indicator of future performance. Third-party products are named for education only; Collective Shift does not endorse them and they can change their features at any time.