CoinTree Review: Is It Safe & Legit?

Cointree is a digital currency provider that allows individuals to buy cryptocurrency in Australia using local currency. The exchange was one of the first crypto exchanges to start up in Australia and has attracted a massive user base. However, in recent times there has been negative feedback in forum posts and social media. So, we thought that we would try out Cointree to assess the exchange for ourselves. 

In this Cointree review, we will provide an overview and assessment of our experience using the exchange, its features, user-interface and trading fees. While we aim to always provide you with accurate information, we suggest that you visit their site from time to time in case some updates occur afterward.  

P.S. Read our article titled the 10 Best Cryptocurrency Exchanges In Australia to see if Cointree made the list. 

Cointree site

What Is Cointree?

Cointree is a well-established cryptocurrency exchange that is based in Australia to provide an easy, fast and safe service to purchase digital currenciesThe platform allows users to deposit AUD and convert into digital assets such as Bitcoin, Ethereum and other altcoins in Australia.

cointree features

Cointree Compared

Bank transfer is one the most popular methods to deposit AUD on Cointree. This comparison table lists other popular Australian cryptocurrency exchanges that allow its users to buy Bitcoin with a bank transfer.

Exchange

Fees

Rating

Website

swyftx

0.6% (low spreads)

5 / 5

independent reserve

0.5% (volume based)

4.5 / 5

coinjar exchange

0.1% - 1%

4.3 / 5

cointree

0.5% - 0.9%

4 / 5

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Cointree Registration & Login

The process to create an account with Cointree takes only a few minutes if you follow these simple steps:

  1. Visit Cointree.com
  2. Click on the 'Get started' button at the top right-hand corner
  3. Enter in your email, set a strong password and click on 'Create Account'
  4. Verify your registered email address
  5. Login using your credentials
cointree register

Cointree Verification

Cointree users are required to verify their accounts to minimize fraud in accordance with regulations. The amount of verification required depends on the services you would like to use as follows:

  • Signed up only: can explore the user-interface but not perform any actions
  • ID verification: can buy, transfer and pay with crypto 
  • Bank account verification and ID verification: can sell Bitcoin back to Australian Dollars (AUD)

The full identity verification process can take up to 1-2 business days to be verified. You must ensure the information provided is accurate to avoid any delays in processing your application. In comparison to other crypto exchanges such as Swyftx, it does take a bit longer to verify and purchase crypto with Cointree.

Deposit Methods

Cointree offers several options to deposit funds into the exchange that are widely available to customers within Australia to fund their accounts. 

cointree deposit method

Cointree support the following methods:

  • PayID (Instant). Most banks and financial institutions in Australia support PayID. Deposits are credited into your Cointree wallet instantly  
  • POLi (Instant). POLi Payments is a service provided by Australia Post that provides instant confirmation of payments. It is one of the best payment methods available for purchasing Bitcoin as quickly as possible. 
  • Bank transfer (1-2 business days). Transferring funds directly to the Cointree account does take a bit longer, however most Australian's will be familiar with this process. Make sure you record the reference number with your deposit in order to be processed to avoid any delays.
  • Cash Deposits (Instant). Cointree has partnered with Blueshyft that features a network of 1,200+ retail locations around Australia. This payment method allows Australians to buy crypto with cash to make a deposit into your Cointree account. 

Trading Fees

Cointree uses a tiered-fee structure that varies between 0.5% and 0.9% depending on the volume traded. The trading fees are quite reasonable for high net worth investors. However, for beginners that are looking to make their first crypto purchase, Cointree's trading fees are not the cheapest option available in Australia.

Tier

Fee

Trade Volume

Bronze

0.9%

0

Silver

0.8%

$10,000

Gold

0.7%

$50,000

Platinum

0.6%

$200,000

Diamond

0.5%

$1,000,000

Deposit Fees

CoinTree does not charge a fee to deposit Australian Dollars to the exchange using a bank transfer. Other payment methods such as PayID, POLi and Cash Deposit will incur a small fee.

Payment Method

Fee

Limit

PayID

$2.75

$25 min. $2,000 per 24 hours max.

POLi

$3.50

$25 min. $10,000 per 24 hours max.

Bank Transfer (EFT)

None

$20 min. $10,000 per 24 hours max.

Cash

$3.00

$50 min. $8,000 per transaction max.

Withdrawal Fees

There are no Cointree fees to withdraw AUD from your wallet to an Australian bank account. Cryptocurrency withdrawals will incur a standard transaction (mining) fee that is based on the blockchain network load for the specific coin. 

How To Buy Crypto With Cointree

Cointree users in Australia are able to quickly and easily purchase crypto with a fiat currency using several deposit methods as described above once your account is verified. The process takes only a few minutes.

To buy crypto with Cointree, follow these simple steps:

  1. Visit the Cointree website and login to your account 
  2. Navigate to the top and hover click on 'Buy / Sell / Trade'
  3. Select the cryptocurrency asset you wish to purchase
  4. Enter the amount of cryptocurrency you want to purchase  
  5. Cointree will calculate the amount of crypto you will receive (incl. fees)
  6. Choose your preferred payment method (e.g. PayID, POLi, bank transfer or cash deposit)
  7. Fill in your banking details and review the order
  8. Complete the transaction and receive the crypto in your Cointree wallet

For a complete overview and demonstration of Cointree, watch the video below.

Is Cointree Legit?

Cointree is a legit cryptocurrency exchange based on its strict compliance with Australian laws and regulations. With the strict Know-Your-Customer (KYC) protocols in place, Cointree limits the risk of fraudulent activity on the exchange. 

Is Cointree Safe?

Cointree appears to be a safe crypto exchange that features several security measures to protect the user's information and client funds. These measures are stated on the Cointree website which includes SSL certification, two-factor authentication, wallet and personnel information encryption.

Based on our research there have been no serious or major hacks of theft of client funds on Contree. However, we would also like to see Cointree expand their security measures to increase user safety such as:

  • Remote core servers that are securely located at data centers across the world
  • Majority of funds store in cold storage wallets that have multi-layer encryption and kept offline  
  • Crypto wallet white-listing

CoinTree Alternatives

The following alternatives to CoinTree are reputable, safe and trustworthy cryptocurrency exchanges to purchase Bitcoin in Australia - and other major altcoins such as Ethereum, XRP and Litecoin.

swyftx

Swyftx

Swyftx is a state-of-the-art platform that allows you to purchase cryptocurrencies in an quick and easy manner. The registration process is incredibly simple with rapid sign-up and verification that takes less than two minutes.

independent reserve

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. 

coinspot

Coinspot

CoinSpot exchange is a well respected in the local Bitcoin community and is focused on helping newcomers to buy Bitcoin and cryptocurrency in Australia with Australian Dollars.

Frequently Asked Questions

What Is Cointree?

Cointree is a regulated Australian cryptocurrency exchange that provides an online platform for investors to purchase, trade, sell and pay bills with digital currencies such as Bitcoin and Ethereum. The exchange was established in 2013, is based in Melbourne Australia and includes several payment methods to deposit AUD.

Who Owns Cointree?

Cointree does not provide details on the founder however the website states partnership with strategic companies such as the Blockchain Centre, Blockchain Australia and Everything Crypto Australia

Do You Need To Complete Account Verification?

Cointree requires users that buy or sell cryptocurrency to prove their identity in accordance with Know-Your-Customer (KYC) protocols. To verify your account, the following documents can be uploaded: 

  • International passport
  • National ID card
  • Driving license

Does Cointree Have An Affiliate Program?

Cointree has an affiliate program that rewards between 30-70% of the commissions taken on each trade for all new members that sign up using a unique referral link. The commission rate is based on a tiered structure so the more users referred will generate greater profits.

Can I Buy Crypto With My Super Fund?

Cointree supports Australian investors that decide to use their Super Fund (SMSF) to purchase digital currency like Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies. Users will need to complete a letter of authority which will allow Cointree to set up a SMSF account.

Can I Setup Recurring Payments With Cointree?

Cointree allows its users to setup recurring deposits to automatically purchase crypto. Once a recurring deposit has been setup to a Cointree account, the exchange will convert the available funds to Bitcoin at the current market rate automatically.

Our Final Verdict

To conclude our Cointree Australia review, the exchange provides a simple, easy-to-use platform for Australians to buy, trade, sell and even pay bills with cryptocurrency. We found the process of creating a new account, identity verification, depositing funds and purchase crypto to be fairly straight forward.

The verification process did take a while and could be further streamlined. We did note there are several references to the cause of delays with verification, so assume this has been a frustration with previous Cointree users. However, overall Cointree is one the better crypto exchanges in Australia.  


Exchange fees are a very important consideration for any prospective cryptocurrency investor. The following exchanges - in addition to the above exchange - provide very competitive trading, deposit and withdrawal fees with a wide variety of deposit methods that will suit all types of investors in Australia. 

  1. Swyftx
  2. Zebpay
  3. Digital Surge
  4. BTC Markets
  5. Mine Digital
  6. ZipMEX
  7. CoinJar
  8. Bitcoin Australia
  9. Easy Crypto
  10. Binance Lite

Cointree

4.05

Ease of use

4.5/5

Reputation

3.5/5

Fees

3.8/5

Deposit methods

4.5/5

Customer support

4.0/5

Pros

  • Simple and beginner friendly
  • Recurring crypto purchases
  • Support for SMSF investors
  • Pay bills with crypto
  • Mobile trading app

Cons

  • Lengthy verification process
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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.

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