CoinSpot vs Crypto.com

Dominic Harper // December 24 // 0 Comments

CoinSpot is Australia's biggest crypto exchange with over 2 million users, and Crypto.com is a popular cryptocurrency app that is growing quickly. As an Australian user, which is better suited for you? I have compared the two platforms thoroughly for you so you can make up your own mind.

Comparison Table

Header

Coins

330+

200+

Trading Fee

Instant buy/sell: 1%,

Market trade: 0.1%

Included in spread 

Deposit Fee

POLi, PayID, OSKO: Free,

BPAY: 0.9%, Cash deposit: 2.5%

 PayID, BPAY: Free,

Credit/Debit card: 3.50%

Withdraw Fee

Free

Free

Payment Methods

POLi, PayID, OSKO, BPAY, Cash

PayID, BPAY, Credit/Debit card

Features

- Live Chat support

- Most trusted and secure exchange

- 330+ cryptocurrencies

- Staking on 47 coins to earn interest

- Free Visa debit card with many benefits

Cell
Header

Coins

330+

200+

Trading Fee

Instant buy/sell: 1%,

Market trade: 0.1%

Included in spread

Deposit Fee

POLi, PayID, OSKO: Free,

BPAY: 0.9%, Cash deposit: 2.5%

 PayID, BPAY: Free,

Credit/Debit card: 3.50%

Withdraw Fee

Free

Free

Payment Methods

POLi, PayID, OSKO, BPAY, Cash

PayID, BPAY, Credit/Debit card

Features

- Live Chat support

- Most trusted and secure exchange

- 330+ cryptocurrencies

- Staking on 47 coins to earn interest

- Free Visa debit card with many benefits

Cell

Pros & Cons: CoinSpot

  • P R O S
  • Most trusted and secure Australian exchange
  • Over 330+ different coins supported
  • Extremely easy for beginners to use
  • Live Chat customer support
  • C O N S
  • No staking supported
  • No debit/credit card payments

Pros & Cons: Crypto.com

  • P R O S
  • Over 200+ coins available
  • Staking on 47 cryptocurrencies
  • Crypto.com Visa debit card where you can receive cashback in CRO on every purchase
  • Crypto borrowing, crypto lending and NFT marketplace
  • C O N S
  • Fewer coins to choose from compared to CoinSpot
  • 3.50% fee to pay with credit/debit card (free for the first 30 days)

Fees

CoinSpot has a few deposit methods that are free: POLi, PayID, OSKO. If you want to pay with BPAY it will be 0.9%, or 2.5% with cash deposit. Withdrawals of AUD are free of charge. To instantly buy/sell crypto will cost you 1%, but if you trade on the market it is only 0.1%. Note that only 14 coins are available to trade on the market.

Crypto.com doesn't charge for any deposits using BPAY and PayID. If you want to make a purchase of crypto using a credit or debit card, there is a fee of 3.50%, but they will waive if for the first 30 days of your account. Withdrawing AUD from Crypto.com incurs no charge. In terms of trading fees, Crypto.com does not charge a commission, but their fees are included in their wider spread. The spread is the difference between the listed buy and sell price for each coin. A reviewer from the top Australian crypto review site Marketplace Fairness conducted a test using his personal accounts, and found that Crypto.com's fees were lower than CoinSpot's, after taking the spread and commission into account. See the full test and results here.

Fees Winner: Crypto.com

Crypto.com has lower trading fees than CoinSpot, according to a real-world test by a top reviewer. There are no deposit fees using BPAY and PayID and free withdrawals to your Australian bank account.

Number of Coins

CoinSpot has an impressive range of coins - the largest of any Australian crypto exchange, with more than 330+ cryptocurrencies.

Crypto.com also has a sizable number of coins, with 200+ different cryptocurrencies.

Number of Coins Winner: CoinSpot

CoinSpot has over 330+ coins compared to Crypto.com, with 200+ coins. While Crypto.com's collection is not small, CoinSpot has over 50% more coins to choose from.

Features

CoinSpot does well in creating a straightforward, simple exchange for the everyday Aussie to get their hands on some crypto. This is part of the reason why they have so many users (over 2 million as of late 2021). Their Live Chat customer support is also very responsive and useful, and if it is after hours, you can reach them via email.

Crypto.com has a lot of good features, such as staking to earn interest on crypto, but the thing that has everyone jumping on board this app is the free Visa debit card. You receive a Visa debit card when you stake at least $500 of Crypto.com's token, called CRO. The card you receive depends on the amount you stake, but there are so many excellent benefits with the card, such as up to 8% cashback in CRO on all purchases, 100% back on Spotify and Netflix, 10% back on Airbnb and Expedia and airport lounge access. The way you use the card is like a normal debit card, you load it with AUD and spend it online or in-store. You are not using cryptocurrency to pay, so there are no transaction or exchange fees incurred. Just by making your regular payments, you receive between 2% and 8% cashback in CRO, which will be automatically added to your crypto wallet straight away.

Features Winner: Crypto.com

The Crypto.com app has really caught everyone's attention with their free Visa debit card. Since November 2021 it was made available for Australian users, allowing users to receive free cryptocurrency every time you purchase with the card. Staking of 47 different coins on the app, is another big drawcard for those who want a long-term investment in crypto.

Security

CoinSpot is the gold standard for security in the Australian cryptocurrency market. It is known as the most trusted, secure and audited crypto exchange in Australia. It is the only one to hold ISO 27001 certification, and is a certified member of Blockchain Australia. It utilises 2FA logins, geo-locking, anti-phishing codes, and stores the majority of cryptocurrency offline in cold storage.

Crypto.com is another trusted and safe cryptocurrency exchange that stores 100% of user cryptocurrencies offline in cold storage, using Ledger Vault's institutional-grade custody. The funds they hold in hot wallets are corporate funds used to manage daily withdrawal requests from customers. In 2020, Crypto.com was awarded the ISO/IEC 27701:2019 certification, being the first crypto company in the world to receive this. Crypto.com also has cryptocurrency insurance of $750M which covers their users for physical damage, destruction, and third-party theft.

Security Winner: Tie

Both CoinSpot and Crypto.com are at the very top of the pack with security measures. CoinSpot is the most audited exchange, with ISO 27001 certification, and Crypto.com has ISO/IEC 27701:2019 certification, plus $750M of cryptocurrency insurance cover. You can safely trade on either of these platforms without having to worry about your funds being lost.

Overall Winner - Tie

CoinSpot and Crypto.com are two excellent crypto platforms and it is hard to pick a clear winner because it really depends on what you are looking for and what type of investor you are. If you are a new user looking for an easy way into the market, CoinSpot (see full review) is the more suitable option, because it is built with beginners in mind, with Live Chat support and a user-friendly interface. If you have a little bit more experience with cryptocurrency, then Crypto.com (see full review) is the app for you. Staking is available for 47 coins, plus the free Visa debit card, with up to 8% cashback in cryptocurrency makes this a great way to grow your cryptocurrency.

If you are not convinced by either CoinSpot or Crypto.com, have a look at our list of the best exchanges in Australia, where you can compare some other options. The table below also has key information on some of the best exchanges.

Digital Surge
Swyftx
CoinSpot
eToro
Binance
Crypto Exchange
Crypto Exchange
Digital Surge
Swyftx
CoinSpot
eToro
Binance
Fiat Currencies
Fiat Currencies
AUD
AUD, NZD
AUD
AUD, USD, GBP, EUR & 11 more
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BNB, ADA, XRP & 280+ more
BTC, BTG, BCH, ADA, ETH, ETC & 280+ more
BTC, ETH, LTC, XRP, BCH, ADA & 330+ more
BTC, ETH, BCH, XRP, LTC, ADA & 24 more
BTC, ETH, LTC, BNB, ADA, XRP & 300+ more
Deposit Methods
Deposit Methods
PayID, POLi, OSKO, Cryptocurrency
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
Bank Transfer, Credit card, Debit card, PayPal, POLi
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
Market order: starts from 0.5%, Instant buy: 0.5%
0.6%
Market order: 0.1%, Instant buy: 1%
Included in spread
0.1%
About the Author: Dominic Harper

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.

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