Comparison of Blockchain.Com vs Coinspot [ 2024 ]

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

Your expert: Alejandro Borja

Blockchain.Com

Your expert: Xavier Tarrasó

Coinspot

Main points

Fees

0,40%/0,45%

Earns

Yes

Customer service

3/5

0,10%/1%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees with a focus on security and ease of use.

3.9 – Reasonable fees with strong local support in Australia.

Level

0,40%/0,45%

0,10%/1%

Brief explanation

Blockchain.com maintains a competitive fee structure for its trading services. The platform charges a dynamic fee for transactions, which typically aligns with industry standards to ensure affordability while maintaining high-quality service. For cryptocurrency trading, the fees vary depending on the market conditions and the type of transaction, such as buying, selling, or exchanging cryptocurrencies. It’s important for users to review the specific fees associated directly on the Blockchain.com platform before executing any trades to understand the potential costs involved fully. This fee structure is designed to be transparent, allowing users to make informed decisions without hidden charges.

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.

Blockchain.Com

Year Founded: Blockchain.com has been a trusted name in the cryptocurrency market since 2011. Its longstanding presence serves as a testament to its reliability and enduring commitment to serving the crypto community.
Security Methods: The exchange employs advanced security measures including the use of cold storage for the majority of assets, two-factor authentication, and cutting-edge encryption technology. These protocols ensure a high level of security, safeguarding user funds against potential threats.
Reputation and Reviews: Over the years, Blockchain.com has built a solid reputation within the cryptocurrency community. Positive user reviews frequently highlight the platform's reliability, security, and ease of use, which reinforces its status as a trusted exchange.
Trading Volume and Liquidity: Blockchain.com supports a significant trading volume and liquidity, making it a preferred platform for traders looking for a seamless trading experience without the risk of market manipulation. High liquidity ensures that trades can be executed quickly and at desired prices.
Transparency: Blockchain.com is known for its transparent operations, providing users with detailed information on transactions, fees, and the security measures in place. This level of openness is crucial in building trust and credibility among users.

Coinspot

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.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Blockchain Access UK Ltd.

Casey Block Services Pty Ltd

Regulation

Not regulated

Regulated in Australia

Year founded

2011

2013

Founder

Ben Reeves (parte del equipo original de Coinbase también)

Russell Wilson

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Blockchain.Com	FEATURES	Coinspot
Blockchain.com allows users to start trading with a relatively low minimum, accommodating smaller budgets.	Minimum Trade	Low minimum trade amount ensures accessibility.
Fees are somewhat higher than competitors, which could be a deterrent for high-frequency traders.	Trading and Transaction Fees	0.1% for market trades, 1% for instant trades.
Supports a wide range of popular cryptocurrencies, providing good options for diversification.	Number of Cryptocurrencies	Supports over 400 cryptocurrencies.
Offers a solid variety of trading pairs, allowing users to trade popular crypto combinations easily.	Crypto-to-Crypto Trading Pairs	Extensive crypto-to-crypto trading pairs available.
The platform is highly transparent about its operations, fees, and security measures.	Website Transparency	Clear and detailed information, but some fees are high.
While Blockchain.com provides a robust platform for trading and wallet services, the lack of a branded exchange card limits the flexibility for users to spend and earn rewards directly from their cryptocurrency holdings in everyday transactions.	Credit/Debit Card	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.
Provides secure storage options including cold storage, ensuring high safety for user assets.	Storage Offering	Secure wallet services with multi-chain support.
Limited options for staking and rewards, which could be improved to enhance user investment benefits.	Staking and Rewards	Offers staking for 23+ coins with competitive APYs.
Both mobile and desktop platforms are user-friendly and well-designed, offering seamless trading experiences.	Mobile App and Desktop	User-friendly mobile app available for iOS and Android.
Customer support is available but response times and effectiveness can vary, indicating room for improvement.	Customer Service	24/7 customer support via live chat and email.
Efficient deposit and withdrawal processes, though some users may find the options somewhat limited.	Deposit and Withdraw	Free AUD withdrawals; small fees for certain deposit methods.

Key features

Analysis tools

Price tracking, but limited technical analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

Blockchain wallet, lending services, staking, institutional services

Instant buy/sell, staking, Coinspot Bundles, SMSF services

Anonymity

Yes

Key points

Available cryptocurrencies

40+

300+

User-friendliness

Offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides essential features without overwhelming new users.

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.

Value for money

Offers reasonable value for money with competitive fees and a strong focus on security, though it may lack some advanced trading features.

Offers good value for money with competitive fees and a user-friendly platform, making it a good choice for Australian users.

Countries of operation

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

Australia, New Zealand

Best for

Best for traders who prioritize security and want a straightforward platform with competitive fees.

Best for Australian investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

USD, GBP, EUR, BTC

AUD, BTC

Account

Trading

Blockchain.com provides a secure trading platform with a good selection of cryptocurrencies. It is easy to use but has higher fees compared to some competitors.

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.

Deposit and withdrawal

Blockchain.com offers multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, with low fees.

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.

Account opening process

Blockchain.com offers a straightforward and user-friendly account registration process. Users need to provide personal information, verify their identity, and the account is usually approved within a day.

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.

KYC required?

Yes

Customer Service

Blockchain.com offers customer support through email and live chat. The support team is responsive, but the absence of phone support and limited availability can be a disadvantage.

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.

Security

Blockchain.com offers strong security features like 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

CoinSpot ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Blockchain.com for those who prioritize security and a user-friendly trading environment. It’s particularly suitable for new entrants to the cryptocurrency market, thanks to its intuitive interface and robust security measures. However, potential users should be aware of its higher transaction fees and mixed customer service reviews, which are areas the platform could improve to enhance the overall user experience.

Xavier Tarrasó

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.

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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.