Features
CoinSpot is the most feature-rich cryptocurrency investing platform in Australia, boasting an extensive ecosystem that includes a Crypto Exchange, NFT Marketplace, CoinSpot Earn (Staking), CoinSpot OTC & CoinSpot SMSF Support. It also offers Bundles which are similar to Crypto ETFs, and it has its own Crypto Mastercard that allows users to spend tokens on real purchases.
Crypto.com also has a variety of features, however it does not offer all of its services for Australian users. If you are based in Australia, you can use their exchange, NFT Marketplace and staking functions.
Winner: CoinSpot has better features for Australian investors when compared with Crypto.com.
Pricing
CoinSpot has a clear and transparent fee structure that starts at 0.1% per trade for their Market Order feature and 1% for the Instant Buy feature. Most deposits are free except a few like card, cash and BPAY, which incur a 0.9% - 2.58% fee. Withdrawals have no costs.
Crypto.com provides an unparalleled fee arrangement, with trading fees beginning at 0.0750% per transaction and potentially decreasing to 0.05% based on individual trading volumes and the quantity of CRO tokens staked. Moreover, deposit and withdrawal transactions have zero fees.
Winner: Crypto.com has lower trading and deposit fees that can get lower the more CRO you stake.
AUD Deposit Methods
CoinSpot offers a diverse range of deposit options for investors such as PayID, Osko, Bank Transfers, Cash Deposits, BPAY, Credit Cards, Debit Cards, and POLi. This unique exchange is the sole provider accepting cash deposits in the country, and these are done through BlueShyft locations.
Crypto.com has fewer options available, theses include SWIFT, FEDWIRE and SEN deposits.
Winner: CoinSpot accepts a wider range of AUD deposit methods than Crypto.com.
Supported Tokens
CoinSpot boasts the most extensive collection of digital currencies among Australian platforms. With more than 380 crypto assets accessible for purchase, sale, and trading, it features cutting-edge Layer 1 networks, GameFi and NFT tokens.
Crypto.com provides a selection of more than 250 digital assets for Australian traders, featuring leading Layer 1 smart contract systems, decentralised finance (DeFi) tokens, gaming and Metaverse tokens.
Winner: CoinSpot has a wide and diverse range of cryptocurrencies to select from.
Security
CoinSpot was founded in 2013 and is regulated by ASIC and AUSTRAC as a licensed digital currency exchange in Australia. They are also one of the only platforms to have secured an ISO 27001 certification, demonstrating that it is a high-security exchange.
Crypto.com also has the relevant licensing and is regulated by AUSTRAC. However, it was hacked in the past, and the platform suffered a $30m exploit where a hacker was able to drain one of their cold-storage wallets.
Winner: CoinSpot has not had any hacks or vulnerabilities since its founding date in 2013.
Customer Service
CoinSpot’s customer service team can be reached 24/7 via live chat, email, phone and through its online form. The team is also prevalent on several social media channels like Instagram, Twitter, Reddit and Facebook.
Crypto.com provides exceptional client support through a 24/7 live chat option available in eight languages, such as English, French, Spanish, and Turkish, and more. Besides the live chat, customers can contact the support team via email, a web-based ticketing system, and various social media platforms like Twitter, Facebook, Instagram, LinkedIn, YouTube, Reddit, Discord, and Telegram.
Winner: Crypto.com is available on more social media platforms and provides multilingual support.
Conclusion
To wrap up, CoinSpot is the superior cryptocurrency trading platform when compared to Crypto.com because it has better security, more assets, a wider range of AUD payment methods and has not suffered any hacks. While Crypto.com has a fascinating native DeFi ecosystem, it is not worth the time or risk for most Australian investors.
