Luis Clark
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- Coinspot vs. Crypto.com 2023:...
Coinspot vs. Crypto.com 2023: Features, Fees and Security
Luis Clark
- Headquarter: Victoria, Australia
- Year Founded: 2013
- No. of Cryptos: 370+
- Fiats Available: AUD
- Fees: Up to 1%
- NFTs Available: Yes
- Native Coin: No
- Beginner Friendly: Yes
- Platform App: Mobile and Web
- Security Features: ISO 27001 certification, 2FA, custom withdrawal restrictions
- Headquarter: Singapore
- Year Founded: 2016
- No. of Cryptos: 250+
- Fiats Available: AUD, EUR, CAD, GBP, USD, ARS, BRL, SGD
- Fees: Up to 0.0750%
- NFTs Available: Yes
- Native Coin: CRO
- Beginner Friendly: No
- Platform App: Desktop/Mobile/Web
- Security Features: Cold storage, Corporate funds in hot wallets, fiat currency in regulated custodian banks
In this article, we compare CoinSpot and Crypto.com after carrying out extensive research and using both cryptocurrency exchanges. We considered their fees, payment methods, security, and more.
CoinSpot vs. Crypto.com: Verdict
Our pick is Crypto.com as it offers more features beneficial to the Australian cryptocurrency market.
Pros
- Supports over 370 cryptocurrencies
- Earn interest on over 20 cryptocurrencies
- Offers free AUD withdrawals
- It has a mobile app
- Offers OTC trading for trade large volumes
- Quick account verification
- Free Mastercard debit card
Cons
- No advanced trading options
- Does not support credit and debit card
Pros
- Large selection of cryptocurrencies
- One-stop shop for all crypto needs
- Users can earn interest on their cryptocurrencies
- Free Visa debit card
Cons
- Lacks educational resources
- Not user-friendly
- High fees for credit and debit card purchases
CoinSpot vs. Crypto.com: Unique Features
Unique Features of CoinSpot
CoinSpot Bundles
A Bundle is a pack of cryptocurrencies that can be bought in a single transaction. Buying bundles allows CoinSpot users to diversify their crypto portfolio. And enables users to avoid paying multiple fees on the crypto exchange.
Bundles available on CoinSpot include Bitcoin Bundle, DeFi bundles NFT bundle, Green bundle, AI bundle, Metaverse bundle, Social bundle, Supply Chain bundle, and Gold/Silver ratio bundle.
When you purchase a bundle, each coin in the bundle is separated and stored in the right wallet in your CoinSpot crypto exchange account.
CoinSpot Mastercard Debit Card
CoinSpot MasterCard is a prepaid debit card that allows users to pay for goods and services directly from their CoinSpot crypto balance. The card is topped up with cryptocurrencies supported on the crypto exchange.
It is compatible with both Apple Pay and Google Pay. which enables users to pay with the card directly from their mobile phones. The card can be used anywhere the Mastercard debit card is accepted worldwide.
Unique Features of Crypto.com
Crypto.com Free Visa Debit Card
The Crypto.com card is a prepaid Visa debit card that enables users to spend cryptocurrencies on the go. The card can be topped up with other credit/debit cards, cryptocurrency, or bank account transfers.
To be eligible for the card, you must stake CRO tokens for at least 180 days. To do this, sign into your Crypto.com account, complete your KYC verification and buy CRO tokens.
Deposit the tokens in your preferred crypto wallet. After this, go to the “Card” tab in the app and select your preferred Visa card and click “Stake”.
Follow the onscreen instructions to complete the process. The amount of CRO staked on the crypto exchange will determine the card tier you can apply for. The exact exchange rate used for the card is dependent on the card tier and the user’s jurisdiction.
Winner in Unique Features
CoinSpot wins in unique features as it has more features than Crypto.com whose primary standout feature is its free Visa debit card.
CoinSpot vs. Crypto.com: Cryptocurrencies Available
Cryptocurrencies Available on CoinSpot
CoinSpot users can buy, sell and swap over 370 cryptocurrencies. This includes Ethereum, Bitcoin, USD Coin, Binance USD, Bitcoin Cash, Dogecoin, Litecoin, Cosmos, Ripple, Cardano, etc.
Cryptocurrencies Available on Crypto.com
Crypto.com supports over 250 cryptocurrencies including Ethereum, Bitcoin, Dogecoin, Polkadot, Cardano, Tether, Polygon, Uniswap, Shiba Inu, etc.
Winner in Crypto Availability
CoinSpot wins in crypto availability as it supports more cryptocurrencies than Crypto.com.
CoinSpot vs. Crypto.com: Can You Buy and Sell NFTs?
Can You Buy and Sell NFTs on CoinSpot?
Can you Buy and Sell NFTs on Crypto.com?
The Crypto.com NFT marketplace enables its users to buy, sell, and participate in drops. It supports over 10 million NFTs. Some of the top NFT collections on the marketplace include Bored Ape Yacht Club, Mutant Ape Yacht Club, ArtBlocks, CloneX, etc.
It offers a variety of NFTs including Gaming, Art, celebrities, and sport. The marketplace charges a fixed 1.99% in fees for buying or selling. And allows users to buy NFT using their credit or debit card directly. It is also the only NFT marketplace based on the crypto.org chain.
Winner in NFTs Availability
Crypto.com wins in NFT Availability as it offers more NFTs to users.
CoinSpot vs. Crypto.com: Fees
CoinSpot Fees
CoinSpot cryptocurrency exchange offers the following fees:
- Market Order: 0.10%
- OTC: 0.10%
- Instant Buy, Sell, and Swap: 1%
- Recurring Buy: 1%
- CoinSpot NFT: 0.90%
- Take Profit, Limit Orders, and Stop Loss: 1%
For its various deposit methods CoinSpot charges the below:
- PayID: Free
- POLi: Free
- Direct Deposits: Free
- BPAY: 0.9% Fee
- Cash Deposit: 2.5% Fee
- Card Deposit: 2.58% Fee
There are no AUD withdrawal fees. It also supports free cryptocurrency deposits.
Crypto.com Fees
For spot trading, Crypto.com uses a maker-and-taker model based on trading volume. They also offer fee discounts based on the amount of CRO you hold. That said, Crypto.com charges up to 0.07% for both maker and taker fees. This is for trade volumes below 250,000 AUD and a held amount of 50,000 CRO coins.
For a trading volume greater than AUD 10,000,000, Crypto.com charges zero maker fee and a 0.0500% taker fee. This is with a CRO held amount greater than 50,000 CRO. If you stake more than 10 million CRO and trade more than 10 million in AUD you’ll only pay 0.0350% in taker fees as well as get a 0.10 bps rebate.
Winner in Fees
Crypto.com wins in fees as it offers cheaper fees and discount/rebate offers for staking its native token CRO.
CoinSpot vs. Crypto.com: Payment Methods
CoinSpot Payment Methods
CoinSmart offers 6 deposit methods which include:
- Bank transfer via PayID
- Bank transfer via POLi
- Direct deposits
- BPAY bank transfer
- Cash Deposit
- CoinSpot debit card deposit
Crypto.com Payment Methods
The Crypto.com exchange offers the following deposit methods:
- Bank transfer via NPP (PayID)
- BPAY bank transfer
- Credit/Mastercard and Visa debit card
- Google Pay and Apple Pay
- Cryptocurrency bank transfer
Winner in Payment Methods
Both CoinSpot and Crypto.com offer flexible deposit methods so it is a draw-in payment method.
CoinSpot vs. Crypto.com: Security
CoinSpot Security
CoinSpot holds both Blockchain Australia Certification and an ISO27001 Certification for Information Security Management. It has also completed an external audit undertaken by SCI Qual International. CoinSpot also holds the majority of users’ assets in cold storage offline.
All CoinSpot users can customize their account security by using several security settings like two-factor authentication, session timeout limit setting, and custom withdrawal restrictions.
Crypto.com Security
Crypto.com holds an Australian Financial Service License (AFSL). It holds 100% of users’ cryptocurrencies in cold storage and all users’ fiat currencies in regulated custodian banks. The cold storage used integrates Ledger Vault’s institutional-grade custody solution.
All funds held in cold wallets are corporate funds and they are secured with HSM and multi-signature technologies.
Crypto.com monitors all transactions and screens all deposits for compliance. All transactions on users’ accounts are protected by multi-factor authentication including email, phone, password, and biometric authentication. All withdrawal addresses must also be whitelisted Via email verification.
Winner in Security
It's a tie. There is no clear winner here as both exchanges have good security measures in place to ensure the security of users' assets.
Coinspot vs. Crypto.com: Earn/Staking Rewards
CoinSpot Earn/Staking Rewards
The CoinSpot exchange allows users to earn on their digital assets by staking them in the CoinSpot Earn program. The program offers up to 70% APY and supports more than 20 cryptocurrencies including CRO, AVAX, SOL, KAVA, and BNB.
Crypto.com Earn/Staking Rewards
With Crypto.com you can stake over 40 cryptocurrencies and stablecoins. The exchange offers up to 12% p.a.
Winner in Earn/Staking Rewards
Crypto.com wins here. The crypto exchange offers a larger selection of eligible staking assets including stablecoins.
CoinSpot vs. Crypto.com: Usability
CoinSpot Usability
CoinSpot offers an easy-to-use trading interface that’s best for beginners. Actions like deposits and withdrawals are seamless for most users. It offers a mobile (iOS and Android) and web interface.
Crypto.com Usability
Crypto.com has a steep learning curve. However, once you get a hang of it, the desktop, browser, and mobile apps are quite simple to navigate. In general, Crypto.com is best for advanced users.
Winner in Usability
CoinSmart wins in usability as it is easier to use for beginners.
CoinSpot vs. Crypto.com: Customer Service
CoinSpot Customer Service
CoinSpot offers 24/7 customer service via its live chat support. Information on their website shows that the average reply rate for live chat support is 30 seconds.
Crypto.com Customer Service
The Crypto.com support team can be reached via email. It also offers 24/7 live chat support.
Winner in Customer Service
CoinSpot wins in customer service. It has a 4.5 stars rating on Trustpilot while crypto.com has just 2.0 stars.
Conclusion: Final Verdict
Crypto.com comes on top as the overall winner as the platform has way more to offer crypto investors. It offers lower fees, a larger NFT marketplace, instant payment methods, advanced trading features, etc. CoinSpot offers more crypto assets but it supports primarily basic features and is more geared toward users who want to execute simple transactions.
Overall Winner
Crypto.com with a 4/5 rating.
FAQ
Most frequent questions and answers
Yes, Crypto.com is a legal cryptocurrency exchange and it operates under the Australian Financial Service’s License (AFSL).
CoinSpot uses a tiered pricing system based on trade volume.
- Copy your wallet address from CoinSpot
- Go to Crypto.com, click Wallet, find the coin you want to withdraw, select withdraw, input the address, and finish the transaction.
Yes, Crypto.com recently expanded its free crypto tax reporting service to Australia.
No, CoinSpot has a clear free structure.
If you want a larger selection of cryptocurrencies, CoinSpot offers more (370+) than Coinbase (160+).
No, CoinSpot does not give a tax report to the ATO.
Yes, but it is not a legal tender in Australia.
AUD withdrawals are processed on the same day if the request was submitted before 2 pm AEDT on a business day.
Crypto lending is when users lend their assets to other traders for interest over a particular period. Crypto.com supports crypto lending.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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