Coinspot is a legacy Australian Crypto currency exchange, as one of the older exchanges they have some of the highest rates at over 1% per trade. It is advised so look for a more cost effecive option when trading.
As an example of the current fee charges between the platforms:
Swyftx – AUD – Bitcoin, Ethereum and more – Low 0.6% Fee
CoinSpot – AUD – Bitcoin, Ethereum and more – 1% Fee so a bit higher if you trade a lot of crypto.
As an example if you make an order of
$10,000 in Bitcoin on Coinspot the fee will be – $100
Where on Swyftx a trade of $10,000 will only have a fee of $60
Saving you $40.
Our Recommended Alternative to Coinspot for buying bitcoin in Australia is: Swyftx