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- Cointree vs. CoinSpot 2023:...
Cointree vs. CoinSpot 2023: Fees, Pros & Cons
Luis Clark
- Headquarter: Melbourne, Australia
- Year Founded: 2013
- No. of Cryptos: 280+
- Fiats Available: AUD
- Fees: Up to 0.90%
- NFTs Available: No
- Native Coin: No
- Beginner Friendly: No
- Platform App: Mobile
- Security Features: Cold storage, AUSTRAC regulation, Two-factor authentication, YubiKey
- 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: 2FA, ISO 27001, custom withdrawal restrictions and session timeout limit, offline storage
This article compares Contree and CoinSpot. To reach our conclusions in the comparison battle, we carried out extensive research and used each cryptocurrency trading platform extensively. Our team considered several factors like trading fees, security, unique features, customer service, and much more.
Cointree vs. Coinspot: Verdict
Our pick is CoinSpot. The crypto trading platform is one of the easiest crypto exchanges to use for crypto beginners.
Pros
- Supports over 280 cryptocurrencies
- Easy-to-use interface
- Offers OTC trading
- It is in partnership with Rush Gold
- Good customer service
Cons
- Long verification process
Pros
- Supports over 370 cryptocurrencies
- Free AUD withdrawals
- Customizable account security settings
- It has an NFT marketplace
- CoinSpot Mastercard
- Good customer service
- Easy-to-use platform
Cons
- No advanced trading options
- Does not support credit and debit card deposits
Cointree vs. CoinSpot: Unique Features
Unique Features of Cointree
Cointree OTC
Cointree’s Over-the-counter trading desk is for individuals and organizations that wish to trade crypto in high volumes. It is best for large-scale traders, institutional traders, high net-worth individuals, SMSF investors, and corporate authorized representatives.
Trading crypto via OTC gives traders access to global markets at low prices and deep liquidity and tight spread. All trades made via the Cointree OTC trading desk are monitored to ensure safe and secure trade settlements. Every OTC account has a dedicated account manager that provides initial expert consolidation to the trader.
Traders can analyze the portfolios of Cointree’s high-earning investors and top OTC trades completed over the past week. They can compare the performance of these other portfolios with their own. They also have access to patented trading ideas and market updates from the Cointree crypto OTC trading desk.
Customers who wish to trade cryptocurrencies via the OTC trading desk will need to sign up and go through the onboarding process. Once they have been registered, they can contact the dedicated account manager, and complete their trades. The dedicated account manager will help the traders find the best process for their trades and execute them.
Unique Features of CoinSpot
CoinSpot Bundles
A Bundle is a package of cryptocurrencies that can be bought in one single transaction. Instead of buying each cryptocurrency one by one, CoinSpot puts cryptocurrencies with similar attributes in a bundle and sells them as one. This is a great way for users to diversify their crypto portfolio and also save money on transaction fees.
Bundles available on CoinSpot include the NFT bundle, Bitcoin Bundle, Social bundle, Gold/Silver bundle, DeFi bundle, AI bundle, Supply Chain bundle, Green bundle, and Metaverse bundle.
Once a bundle is purchased, each cryptocurrency in the bundle is separated and stored in its designated wallet. The user can sell or swap each cryptocurrency whenever they wish. The process of buying bundles is simple and straight to the point. All you need to do is to fund your account with a supported fiat currency, select the bundle and how much you wish to spend, and confirm the purchase.
CoinSpot Mastercard
The CoinSpot Card is a prepaid debit card that enables users to spend cryptocurrencies on the go. To be able to use the card, it needs to be topped up with the user’s preferred cryptocurrency. The card supports all 370+ cryptocurrencies available on CoinSpot crypto exchange.
The CoinSpot Mastercard can be used online and in-store. The card also supports Apple Pay and Google Pay. It can be used anywhere Mastercard is accepted worldwide. Cardholders are not charged startup or annual fees for using the card.
Winner in Unique Features
CoinSpot wins in unique features. It has a lot of features that enable users to buy and sell crypto with ease.
Cointree vs. CoinSpot: Cryptocurrencies Available
Cryptocurrencies Available on Cointree
Cointree users have access to over 280 cryptocurrencies. Supported cryptocurrencies include: Bitcoin, Ethereum, Dogecoin, Penta, Tether, Binance Coin, Ripple, Polkadot, Litecoin, Solana, Uniswap, Avalanche, Wrapped Bitcoin, Chainlink, etc
Cryptocurrencies Available on CoinSpot
CoinSpot supports 370+ cryptocurrencies. This includes; Bitcoin, Ethereum, Binance Coin, Tether, SafeMoon, USD Coin, Binance USD, etc.
Winner in Crypto Availability
CoinSpot wins as it supports more cryptocurrencies than Cointree.
Cointree vs. CoinSpot: Can You Buy and Sell NFTs?
Can You Buy and Sell NFTs on CoinSpot?
Yes, you can buy and sell NFTs on CoinSpot. The CoinSpot NFT marketplace allows users to buy more than 400,000 NFTs including popular collections like the Bored Ape Yacht Club and World of Women NFTs. That said, it only supports crypto purchases and does not permit NFT minting on its platform. So sellers/creators will need to mint their artwork elsewhere before listing it on CoinSpot. The NFT marketplace is supported by the Binance Smart Chain and Ethereum. At the moment, CoinSpot NFT hosts over 2 million active users.
Winner in NFTs Availability
CoinSpot wins in NFT availability. Cointree does not offer an NFT program.
Cointree vs. CoinSpot: Fees
Cointree Fees
Cointree offers a tiered volume based on the user’s trade volume or the number of referrals to the crypto exchange.
Tiers
- Bronze: 0.90% in fees for buy/sell transactions and 0.25% for coin-to-coin trades.
- Silver: 0.80% in fees for buy/sell transactions and 0.20% for coin-to-coin trades. This level is attained by a trade level of AUD 10,000 in the last 30 days or by sending in 2 referrals.
- Gold: 0.70% in fees for buy/sell transactions and 0.15% for coin-to-coin trades. This level is attained by a trading volume of AUD 50,000 in the last 30 days or by sending in 10 referrals.
- Platinum: 0.60% in fees for buy/sell transactions and 0.10% for coin-to-coin trades. The platinum level is attained by a trade level of AUD 200,000 in the last 30 days or by sending in 25 referrals.
- Diamond: 0.50% in trading fees for buy/sell transactions and 0.05% for coin-to-coin trades. The diamond level is attained by a trade level of AUD 1,000,000 in the previous month or by sending in 50 referrals.
Cointree does not charge deposit fees but the exchange places a disclaimer on its fee schedule page that some of its payment providers may charge a fee. There are no fees for crypto deposits. For withdrawals, Cointree does not charge withdrawal fees to facilitate AUD withdrawals from your account to your Australian bank account.
CoinSpot Fees
CoinSpot offers a simple trading fee schedule as listed below:
- 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%
Concerning deposits on CoinSpot:
- PayID: Free
- POLi: Free
- Direct Deposits: Free
- BPAY:0.9% Fee
- Cash Deposit: 2.5% Fee
- Cointree Card Deposit: 2.58% Fee
Coinspot Australian exchange doesn’t charge fees for AUD withdrawals.
Winner in Fees
CoinSpot is the winner, it has low trading fees.
Cointree vs. CoinSpot: Payment Methods
Cointree Payment Methods
The Cointree exchange supports 3 deposit methods: PayID, Online and Mobile Banking, and Cash Deposits. The PayID and cash deposit methods are instant payment methods, while online and bank transfer takes an average of 1 to 2 business days.
CoinSpot Payment Methods
CoinSpot supports 6 payment methods; PayID, POLi, BPAY, Cash Deposit, CoinSpot debit card, and Direct deposit. Direct deposit, PayID, and POLi support instant payments.
Winner in Payment Methods
CoinSpot wins in payment methods as it offers more deposit methods than Cointree which makes it the most flexible choice for most users.
Cointree vs. CoinSpot: Security
Cointree Security
The Cointree crypto exchange in Australia is regulated by the Australian Regulatory Authority and by AUSTRAC. It stores 98 percent of funds offline in cold storage. During the hiring process, all Cointree employees must pass a criminal background check and customers’ personal information are not available to all employees, only those who need it, have access to the information.
The Cointree website’s traffic runs entirely over encrypted SSL. Application credentials are separated from the codebase and database and all passwords are hashed and salted in the database.
Users’ accounts are also protected with two-factor verification. Two-step verification is required for the withdrawal of digital currencies from all Cointree accounts.
CoinSpot Security
CoinSpot holds an ISO27001 Certification for Information Security Management and a Blockchain Australia Certification. It stores a vast majority of its assets in cold storage offline.
CoinSpot has a suite of customizable account security settings available to all users which users can activate to secure their accounts. This includes two-factor authentication, session timeout limit settings, and custom withdrawal restrictions.
Winner in Security
CoinSpot wins in security. It is one of the safest crypto exchanges available to Australians.
Cointree vs. CoinSpot: Earn/Staking Rewards
Cointree Earn/Staking Rewards
Cointree doesn’t offer a staking service yet. However, it does intend to launch one soon and is already accepting registration for the program. There is no valid information about what the top APY will be or which digital currencies will be available for staking.
Bitbuy does not offer staking services.
CoinSpot Earn/Staking
The CoinSpot exchange staking service offers up to 70% APY on over 20 cryptocurrencies. Investors also have the opportunity of increasing their APY by boosting the number of their holdings.
Winner in Earn/Staking Rewards
CoinSpot wins in staking. The exchange offers up to 70% APY and ample digital assets for staking.
Cointree vs. CoinSpot: Usability
Cointree Usability
The Cointree exchange is one of the best Australian exchanges for Australian investors who want an easy way of purchasing over 280 crypto assets. That said, the exchange is more targeted to investment professionals and users searching for bespoke investing options like managing SMSF or wealth management services. Cointree offers a mobile app and a browser app.
CoinSpot Usability
CoinSpot is best for beginners. The crypto exchange offers a mobile app for Android and iOS users with instant trade features. They also feature live chat support with real people to help users get a hang of the platform if they’re facing issues. That said, CoinSpot does not offer advanced features like derivatives or margin trading. It also doesn’t allow users to make credit card deposits (except the Cointree MasterCard prepaid debit card.)
Winner in Usability
Usability is a draw. Both crypto exchanges are easy to use. Also, the ease of use is dependent on what the user wants to use the exchange for. CoinSpot is best for beginners/casual traders while Cointree is best for bespoke investment options.
Cointree vs. CoinSpot: Customer Service
Cointree Customer Service
Cointree provides support to customers via live chat, phone, and email. Users with complaints can call Cointree support at 1300 389 414 from 8 am – 5 pm Melbourne time on weekdays. Live chat is also available during the same time frame on weekdays.
Cointree also has a help center where users can check for answers to common questions and detailed steps on how to get started.
CoinSpot Customer Service
CoinSpot offers 24/7 customer support via email at support@coinspot.com.au and live chat. It also has a well-equipped Help Center with answers to frequently asked questions.
Winner in Customer Service
CoinSpot wins as it offers better customer service than Cointree.
Conclusion: Final Verdict
CoinSpot wins overall. The cryptocurrency exchange offers more flexibility to users concerning the type of products offered. On CoinSpot users have access to over 360 crypto assets, an NFT marketplace, a staking platform for more than 20 cryptocurrencies, and much more. Cointree is more suited to users who want specific investment options and basic crypto trade services.
Overall Winner
CoinSpot wins with a 3.7/5 rating.
FAQ
Most frequent questions and answers
Cointree is a cryptocurrency exchange.
Binance is the largest cryptocurrency exchange in the world.
CoinSpot cryptocurrency exchange is one of the crypto exchanges in Australia with competitive fees.
Both CoinSpot and Cointree are legal in Australia and are registered under AUSTRAC.
Binance offers a larger selection of cryptocurrencies, payment options, trading pairs, and lower fees.
Yes, Bitbuy is a legitimate and regulated platform.
Yes, Bitbuy is regulated.
It is safer to keep crypto in cold storage.
Cold Storage simply means storing your digital assets offline.
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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