Features
CoinSpot offers the most diverse range of crypto-related services and products in Australia. Boasting products like trading and staking hundreds of tokens, buying and selling NFTs like Bored Apes or Crypto Punks, a cryptocurrency debit card, Bundles which are Crypto ETFs, an OTC Desk for institutional clients and SMSF support.
Coinjar has a more simple trading experience with trading available and a crypto card that is powered by Mastercard. It also has SMSF support and an OTC desk for larger orders.
Winner: CoinSpot provides the widest range of features that is tailored specifically to Aussies.
Pricing
Coinspot has the lowest fees in the country with free deposits and withdrawals from the platform. The only cost is the trading fee, a commission that CoinSpot takes every time you buy or sell a token. For instant buy orders, it is 1% and for market buy orders it is 0.1%.
Coinjar charges 2% to instant buy crypto with credit or debit cards while it charges 1% trading fees when you buy cryptocurrencies with PayID, Osko or crypto. Another deposit method, Blueshfyt, charges 1.5% to deposit funds with cash.
Winner: CoinSpot has significantly fewer and lower fees than Coinjar does.
AUD Deposit Methods
CoinSpot currently accepts the following payment methods; PayID, Osko, POLi, BPAY, Cash (via BlueShyft), Credit Card, Debit Card and Bank Transfers.
CoinJar accepts AUD deposits from PayID, Osko, Apple Pay, Google Pay, Credit Card, Debit Card or cash via BlueShyft.
Winner: CoinSpot has one additional payment method when compared to CoinJar.
Supported Tokens
CoinSpot has over 380 available cryptocurrencies for its users to buy, sell and hold. It has he most diverse range of crypto assets in Australia.
Coinjar only supports 50 cryptocurrencies, 7 of which are top coins, and the remaining 43 are ERC-20 tokens.
Winner: CoinSpot has 80x more cryptocurrencies than CoinJar, making it the best destination for altcoin flippers and traders.
Security
CoinSpot has further cemented its reputation as the most secure exchange in Australia by obtaining the ISO 27001 certification. This gives it a higher rating for data security than any other exchange in Australia. Additionally, there have never been reports of CoinSpot’s security being breached or penetrated by hackers. It is also regulated by AUSTRAC and ASIC.
Coinjar is a regulated exchange that stores most customers’ funds offline and uses Amazon Web Services to protect users’ sensitive data. It also uses multi-factor verification to access internal services and even runs a bug bounty to ensure the platform is secured. CoinJar is registered with AUSTRAC.
Winner: CoinSpot is the only exchange in Australia to receive its ISO 27001 data security certification, making it the safest exchange in the country.
Customer Service
CoinSpot provides the most responsive and helpful customer support team in Australia. The exchange has an incredible 4.4 star rating on Trustpilot, with most reviews commenting on the incredible customer service. The team can be reached on live chat, email, phone, online form, and several social media channels like Facebook and Reddit.
CoinJar has a slightly lower rating on Trustpilot with 4.1 stars. The support team cannot be reached 24/7 as there is no live chat feature or email support. However, you can submit a request via form to be contacted.
Winner: CoinSpot supports multiple channels to contact customer service including social media platforms.
Conclusion
To conclude, CoinSpot provides a wider range of tokens, is a more secure exchange, has considerably lower fees and offers unique features like staking services and an NFT marketplace. Naturally, these factors will attract more users to the exchange as they seek a cheaper and more convenient way to buy, sell, and trade cryptocurrencies.
