Coinspot is a popular exchange that is based in Melbourne which provides a secure way to purchase crypto or other altcoins in Australia with a flat 1% trading fee. However, with the increase in the number of crypto exchanges and local competition, there are new exchanges like Coinspot that offer much lower trading fees.
If low fees are important to you when buying Bitcoin in Australia, continue reading to find out more about our top-rated alternatives to Coinspot to consider.
Crypto Exchanges Like Coinspot
This comparison guide provides an overview of the best Coinspot alternatives to use in Australia with lower trading fees. If you want to learn more about the best crypto exchange in Australia, read our detailed reviews linked below.
$10 Free Bitcoin
$10 Free Bitcoin
0.2% / 1%
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Swyftx is a digital currency exchange in Australia with a core focus on solving the many problems currently faced by traders with existing providers. The platform has been designed to be the best of its competitors by making it fairer and easier for users wanting to convert AUD to BTC. The platform provides Australians a quick and easy way to buy and sell popular cryptocurrencies such as Ethereum, Litecoin, Ripple, Cardano and is a good alternative to Coinspot.
To reduce trading fees, Swyftx has been optimized for increasing liquidity with trade volume to decrease the spread fees. The brokering system allows the platform to offer 4 times lower spreads and 2 times cheaper trading fees than its closest competitors. This is important. The spread fee is often hidden, overlooked or not disclosed in an exchanges trading fees. Swyftx is the only exchange in Australia that are fully transparent with ALL trading fees on the platform.
In comparison, CoinSpot charges a 1% trading fee with an average spread of approximately 2.2%. For more information on the differences between Swyftx and CoinSpot, read our comparison article.
2. Independent Reserve
Independent Reserve is a popular exchange among cryptocurrency traders around the world that offers trading competitive fees and support for traditional fiat currencies such as the Australian Dollar, New Zealand Dollar and US Dollar. The exchange allows users to buy, sell and trade 14 of the major cryptocurrency coins.
Independent Reserve uses a tier-based fee structure that becomes cheaper with the more you trade. The lowest fee starts at 0.5% which gradually reduces as your trading volume increases to a trading fee of 0.05%. This is excellent high net worth investors or SMSF clients that want to invest in Bitcoin.
Independent Reserve has a solid track record and has not been compromised by hackers to date. It complies with local regulations and offers an insurance fund to protect users against hackers and theft of any cryptocurrency assets held in customer online wallets.
Cointree is a digital currency provider that allows individuals to buy cryptocurrency using local AUD currency. Established in 2014, Cointree was one of the first crypto exchanges to start up in Australia and has attracted a massive user base.
The exchange provides an easy, fast and safe service to make owning cryptocurrencies more accessible to the everyday person. The platform allows users to deposit AUD and convert into digital assets such as Bitcoin, Ethereum and other altcoins in Australia.
Similar to Independent Reserve, Cointree uses tiered based fees that vary between 0.5% and 0.9% depending on the volume traded. The trading fees are quite reasonable for high net worth investors. For new crypto investors, a 0.9% trading fee is only marginally better than Coinspot.
Cointree does offer several payment methods that are an attractive feature including:
- PayID (Instant). Most banks and financial institutions in Australia support PayID
- POLi (Instant). POLi Payments is a service provided by Australia Post that provides instant confirmation of payments
- Bank transfer (1-2 business days). Transfer funds directly to a Cointree account
- Cash Deposits (Instant). Buy crypto using cash to make a deposit
Zebpay provides a simple on-ramp to allow investors to purchase cryptocurrencies through their desktop and mobile trading apps. Established in 2014 and headquartered in Singapore, the exchange has served over 3 Million users across the globe and has expanded to provide its digital currency service to residents in Australia.
Zebpay allows its users to convert AUD into crypto coins such as Bitcoin, Ripple, Ether, EOS, Bitcoin Cash and Litecoin. The number of cryptocurrencies is limited however we expect this to increase in the near future.
When it comes to fees, Zebpay charges a flat 0.4% fee across all trading assets which is competitive when compared to other crypto exchanges in Australia. There are also no deposit or withdrawal fees using the platform.
5. Digital Surge
Digital Surge exchange provides a fast and easy way to buy and sell Bitcoin in Australia with AUD. You can even pay bills with Bitcoin. The cryptocurrency trading platform has a core focus providing simplicity and is one of the easiest ways to buy Bitcoin in Australia. Based in Brisbane, the team is committed to building trust and transparency within the cryptocurrency community and take part in a number of community events to help to bring awareness to the industry for all investors alike.
Digital Surge offers a few different deposit methods that most Australian's should have access to. There is a minimum deposit method of $20 to get started.
Digital Surge exchange allows its users to buy Bitcoin in Australian instantly with AUD. If you're looking to purchase other cryptocurrencies, you will need to sign up with another cryptocurrency exchange which is the only downside.
Coinspot remains a reputable cryptocurrency exchange in Australia that is popular among new and experienced investors. However, since its launch in 2013, the exchange has not reduced its trading fees and is becoming less competitive in the market. There are now several Coinspot alternatives with lower trading fees that crypto investors in Australia should consider and research.