Comparison of Coinspot vs Cryptology [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Coinspot vs Cryptology comparison!

Your expert: Alejandro Borja

coinspot

Coinspot

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

cryptology

Cryptology

  • Threenvest valuation: 3,5/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0,10%/1%

Earns

No

Customer service

4/5
≤0,20%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia.
4.0 – Reasonable fees with additional benefits for token holders.

Level

0,10%/1%
≤0,20%

Brief explanation

Coinspot employs a straightforward fee structure that varies depending on the type of transaction. For market trades, the platform charges a competitive 0.1% fee, which is below the industry average. Instant buy, sell, and swap orders incur a higher fee of 1%, reflecting the convenience of immediate transactions. Over-the-counter (OTC) trades also attract a 0.1% fee, making them cost-effective for large volume transactions. Deposits via POLi, PayID, and Direct Deposits are free, while BPAY and cash deposits have fees of 0.9% and 2.5% respectively. Withdrawals in Australian dollars are free, but cryptocurrency withdrawals are subject to standard network fees​​.
Cryptology employs a transparent and competitive fee structure designed to cater to traders of all levels. The platform uses a progressive fee system where trading fees decrease with higher trading volumes over a 30-day period. For trading volumes under €50,000, both market makers and takers are charged a flat 0.20% fee. As trading volumes increase, fees can drop to as low as 0.016% for makers and 0.018% for takers for volumes exceeding €10,000,000. Deposit fees are generally non-existent, except for certain fiat deposits via debit or credit cards, which incur fees ranging from 1.7% to 2.65%. Withdrawal fees are asset-dependent, with Bitcoin withdrawals, for example, subject to a 0.0005 BTC fee .

Coinspot

coinspot
Read coinspot review
  • Year Founded Coinspot was founded in 2013, making it one of the oldest cryptocurrency exchanges in Australia. Its longevity in the market provides a level of reliability and trust that newer exchanges might not have established yet.
  • Number of Users Coinspot has built a substantial user base over the years, serving hundreds of thousands of users. This large user base indicates a strong level of trust and satisfaction among its customers.
  • Security Methods Coinspot employs robust security measures, including two-factor authentication (2FA), SSL encryption, and cold storage for the majority of its digital assets. These measures ensure that user funds are kept secure from potential cyber threats.
  • Reputation and Reviews Coinspot has garnered positive reviews from its users and is generally regarded as a reputable exchange. Its commitment to providing a user-friendly platform and responsive customer support has contributed to its favorable reputation in the cryptocurrency community.
  • Customer Service Coinspot offers comprehensive customer service, including live chat support and a detailed FAQ section to assist users with their queries. This level of support helps ensure that users can resolve issues promptly and efficiently, further building trust in the platform.
  • Pros
  • Extensive cryptocurrency selection.
  • User-friendly trading platform.
  • Robust multi-layer security features.
  • Cons
  • Higher fees than competitors.
  • Limited advanced trading features.

Read coinspot review

Cryptology

cryptology
Read coinspot review
  • Security Methods: Cryptology employs industry-standard encryption protocols, cold storage solutions, and two-factor authentication (2FA) to ensure the safety of user funds and data .
  • Year Founded: Established in 2017, Cryptology has a proven track record in the cryptocurrency market, demonstrating stability and growth over the years .
  • Regulation: The exchange is registered in Estonia and regulated by the Estonian Financial Intelligence Unit (FIU), ensuring compliance with international financial regulations .
  • Customer Service: Cryptology offers 24/7 customer support through various channels, including email and live chat, enhancing user satisfaction and resolving issues promptly .
  • Reputation and Reviews: Cryptology has generally positive reviews from users, highlighting its reliability, user-friendly interface, and efficient trading environment .
  • Pros
  • Solid major cryptocurrency selection.
  • Advanced trading tools available.
  • User-friendly mobile app.
  • Cons
  • Limited altcoin selection.
  • High trading and withdrawal fees.

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Casey Block Services Pty Ltd
Cryptology Asset Group Pte Ltd

Regulation

Regulated in Australia
Not regulated

Year founded

2013
2018

Founder

Russell Wilson
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Coinspot FEATURES Cryptology
Low minimum trade amount ensures accessibility.
Minimum Trade
Cryptology allows users to start trading with a minimal amount, making it accessible for beginners.
0.1% for market trades, 1% for instant trades​​.
Trading and Transaction Fees
Fees are competitive but not the lowest in the market. The fee structure benefits high-volume traders but could be more advantageous for smaller trades .
Supports over 400 cryptocurrencies​​.
Number of Cryptocurrencies
The exchange offers a wide selection of cryptocurrencies, providing ample choices for diverse trading strategies .
Extensive crypto-to-crypto trading pairs available.
Crypto-to-Crypto Trading Pairs
Cryptology has numerous crypto-to-crypto pairs available, facilitating versatile trading opportunities and allowing traders to diversify their portfolios .
Clear and detailed information, but some fees are high.
Website Transparency
The website is highly transparent, providing detailed information about fees, security measures, and company policies. This transparency helps build trust with users ​​.
CoinSpot offers a digital Mastercard that allows users to spend their cryptocurrencies for in-store and online purchases, with support for over 380 cryptocurrencies. It provides real-time AUD conversion and integration with Apple Pay and Google Pay for easy transactions.
Credit/Debit Card
Cryptology does not provide an exchange card for in-store purchases.
Secure wallet services with multi-chain support​​.
Storage Offering
Cryptology provides secure storage options, though it could improve by offering more detailed information on security protocols and insurance coverage for stored assets .
Offers staking for 23+ coins with competitive APYs​​.
Staking and Rewards
The exchange offers staking options, but the rewards programs are not as extensive as those of some competitors. Enhancing the rewards system could attract more users looking for passive income opportunities .
User-friendly mobile app available for iOS and Android​​.
Mobile App and Desktop
The platform is available on both mobile and desktop with robust features, though some users report minor usability issues on the mobile app. Continuous updates and improvements can enhance the user experience further.
24/7 customer support via live chat and email​​.
Customer Service
Customer service is responsive but could benefit from 24/7 support availability. Providing more channels for support and ensuring round-the-clock service would greatly improve user satisfaction.
Free AUD withdrawals; small fees for certain deposit methods​​.
Deposit and Withdraw
Cryptology offers various methods for deposits and withdrawals with reasonable processing times and fees. This flexibility makes it easier for users to manage their funds efficiently.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4,5/5

Additional features

Instant buy/sell, staking, Coinspot Bundles, SMSF services
Margin trading, futures trading, staking, Cryptology Earn program

Anonymity

No
Yes

Key points

Available cryptocurrencies

300+
50+

User-friendliness

Coinspot offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
Cryptology offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to provide a seamless trading experience with all necessary features easily accessible.

Value for money

Offers good value for money with competitive fees and a user-friendly platform, making it a good choice for Australian users.
Provides decent value for money with competitive fees and a user-friendly interface, though it may not have the lowest fees compared to some competitors.

Countries of operation

Australia, New Zealand
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Best for Australian investors looking for a user-friendly platform with competitive fees and strong local support.
Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

AUD, BTC
EUR, USD, RUB, BTC

Account

Trading

CoinSpot is an Australian exchange known for its user-friendly platform and wide range of cryptocurrencies. It offers competitive fees but lacks some advanced trading tools.
Cryptology offers a good selection of cryptocurrencies and competitive fees. It has a user-friendly platform but lacks some advanced trading tools.

Deposit and withdrawal

CoinSpot is an Australian exchange known for its easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, typically within a day, with competitive fees.
Cryptology supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

CoinSpot offers a simple and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, typically taking less than a day to complete.
Cryptology provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes
No

Customer Service

CoinSpot offers extensive customer support through email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.
Cryptology provides support through email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

CoinSpot ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.
Cryptology employs standard security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Coinspot for anyone entering the cryptocurrency market. Its intuitive interface and robust security measures make it an ideal platform for beginners. The variety of supported cryptocurrencies ensures ample opportunities for diversification, while its responsive customer service provides excellent support. Although the transaction fees are a bit higher, the platform’s reliability and ease of use make it a strong contender for your crypto trading needs.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert in cryptocurrency exchanges, I find Cryptology to be a secure and reliable platform, especially suitable for traders who prioritize security and transparent fee structures. The exchange offers competitive trading fees that decrease with higher trading volumes, which benefits active traders. Additionally, Cryptology’s commitment to security through industry-standard encryption, cold storage solutions, and two-factor authentication (2FA) provides peace of mind for users concerned about the safety of their funds. While the platform excels in these areas, it does have some limitations. The selection of altcoins is relatively limited compared to other exchanges, which might not appeal to traders looking for a broader range of digital assets. Furthermore, there have been reports of customer support issues, indicating a need for improvement in responsiveness and service quality. Overall, Cryptology is a strong choice for traders focusing on major cryptocurrencies and seeking a secure trading environment. Enhancing altcoin variety and improving customer support would further solidify its standing in the competitive cryptocurrency exchange market.

View all comparisons against Coinspot

View all comparisons against Cryptology

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Coinspot and Cryptology