Features
CoinSpot has most features available to Aussie investors and users can buy and stake crypto, invest and store NFTs, purchase Bundles (crypto ETFs) and even spend their tokens with CoinSpot's Crypto Card that lets you use crypto to buy online purchases at any merchant that accepts Mastercard.
Coinbase also offers many features, but most of them are not available to Australian investors and are only accessible from the US. The exchange offers crypto trading and staking but nothing else aside from that.
Winner: CoinSpot offers more features overall and has more staking options than Coinbase.
Pricing
CoinSpot has the most competitive fees, with its trading fees varying between 0.1% - 1%. It also charges zero fees on deposits via PayID, Osko, POLi & Bank Transfers. However, fees range from 0.9% to 2.58% when you use BPAY, Cash or Credit/Debit Card. Withdrawals are completely free on CoinSpot.
Although Coinbase is widely regarded as one of the best crypto exchanges in the world, its shortfall is its high fees. It is well known that Coinbase charges some of the highest trading fees out of any exchange. Their trading fees go up to 4.5%, and deposits vary depending on the payment method.
Winner: CoinSpot has some of the lowest fees from any crypto exchange globally.
AUD Deposit Methods
CoinSpot offers its investors to deposit AUD through various payment methods which include Bank Transfers, PayID, Osko, Cash, BPAY, POLi, Credit Cards and Debit Cards.
Unfortunately for Australian investors, Coinbase only offers two types of deposits, which are debit cards with a 3.99% fee per transaction, and PayID, which is free.
Winner: CoinSpot supports significantly more AUD deposit types, and most of them are free.
Supported Tokens
CoinSpot doubles its competitor's numbers, supporting a total of over 380 cryptocurrencies. It has the largest selection of tokens out of any Australian digital-asset exchange.
Unfortunately, Coinbase only offers 150 cryptocurrencies on its platform, which is considered pretty low when compared to other popular trading platforms.
Winner: CoinSpot provides the most diverse selection of tokens in Australia.
Security
CoinSpot is a highly secure platform and is regulated by AUSTRAC and ASIC. It stores all of its users funds offline in cold storage, and all assets are insured by top tier banks. CoinSpot has been operating since 2013 and had never once been subject to a cyber attack, proving it's battle-tested and safe.
Coinbase is ranked the third most secure cryptocurrency exchange in the entire world. Their platform stores a large percentage of its users funds offline for security measures and only a small portion of it remains online and is completely insured. It recently IPO'd on the U.S stock market, adding more credibility to its already reputable name.
Winner: CoinSpot is the most secure and trustworthy cryptocurrency exchange in Australia.
Customer Service
CoinSpot has several ways for its users to contact customer support which include a 24/7 live chat feature, email support, phone support (for OTC clients), an online web form and social media channels, including Reddit, Twitter, Facebook and Instagram.
Coinbase, unfortunately, only offers live chat services to users, and if you do not have an account, you will not be able to speak with the team.
Winner: CoinSpot has more communication streams available to users than Coinbase.
Conclusion
In summary, we recommend using CoinSpot as Australia's largest and most trusted cryptocurrency exchange. The platform has more than double the number of cryptocurrencies on Coinbase and offers lower fees plus free deposits. On top of that, CoinSpot has excellent customer support, offering investors a 24/7 Live Chat option. To learn more about the exchange, visit our detailed CoinSpot Review.
