Comparison of Coinspot vs Ascendex [ 2024 ]

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

altcoin trader

Ascendex

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0,10%/1%

Earns

No

Customer service

4/5
0,10% /0,20%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia.
4.1 – Low trading fees with discounts for token holders.

Level

0,10%/1%
0,10% /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​​.
Altcoin Trader’s commission structure is designed with simplicity in mind, aligning with its overall user-friendly approach to cryptocurrency trading. The platform charges a flat fee of 0.25% on all trades, whether you are buying or selling. This rate is quite competitive within the industry, particularly for an exchange that prioritizes ease of use for beginners. The straightforward fee model eliminates any confusion about variable rates that can affect the cost of transactions, making it easier for new traders to understand exactly how much they will be paying per trade. This transparency in fees is part of what makes Altcoin Trader a preferred choice for those new to the crypto markets.

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

Ascendex

altcoin trader
Read coinspot review
  • Year Founded: Established in 2015, Altcoin Trader has been in operation for several years, allowing it to develop a deep understanding of the market dynamics and user needs. This longevity in the volatile crypto market underscores its resilience and adaptability.
  • Security Methods: Altcoin Trader employs robust security measures, including cold storage for the majority of the assets, which significantly reduces the risk of hacks and unauthorized access. This focus on securing user funds is a critical factor in building trust.
  • Reputation and Reviews: The platform has built a strong reputation within the South African cryptocurrency community. User reviews often highlight the reliability of the service, the responsiveness of customer support, and the ease of use of the platform.
  • Transparency: Altcoin Trader is known for its transparent operational practices, including clear communication about fees and any changes to the trading environment. This transparency helps build trust and ensures users feel secure in their trading decisions.
  • Customer Service: The exchange has a dedicated customer service team that is accessible and responsive. This service ensures that users can receive quick and helpful responses to their inquiries or issues, which is crucial for both new and experienced traders.
  • Pros
  • Supports direct ZAR deposits.
  • User-friendly interface for beginners.
  • Offers a wide range of altcoins.
  • Cons
  • imited advanced trading features.
  • Lower trading volume than competitors

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Product selection

Native token

No
Token ASD

Earns

No
Yes

NFT marketplace

No
Yes

Cripto/debit card

No
Yes

Company information

Full name

Casey Block Services Pty Ltd
AscendEX (formerly BitMax)

Regulation

Regulated in Australia
Not regulated

Year founded

2013
2018

Founder

Russell Wilson
George Cao and Ariel Ling

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Coinspot FEATURES Ascendex
Low minimum trade amount ensures accessibility.
Minimum Trade
The minimum trade amount is reasonable, accommodating both small and larger investors.
0.1% for market trades, 1% for instant trades​​.
Trading and Transaction Fees
Fees are competitive but could be improved to match or undercut major competitors.
Supports over 400 cryptocurrencies​​.
Number of Cryptocurrencies
Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
Extensive crypto-to-crypto trading pairs available.
Crypto-to-Crypto Trading Pairs
Limited to more common pairs, lacking the extensive options found on larger platforms.
Clear and detailed information, but some fees are high.
Website Transparency
The website provides clear and straightforward information on fees, policies, and trading options.
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
Altcoin Trader lacks a branded exchange card, limiting the versatility of funds access and usage beyond the digital platform.
Secure wallet services with multi-chain support​​.
Storage Offering
Provides secure cold storage options, ensuring a high level of security for stored assets.
Offers staking for 23+ coins with competitive APYs​​.
Staking and Rewards
Limited options for staking and rewards, not as competitive as other exchanges offering these services.
User-friendly mobile app available for iOS and Android​​.
Mobile App and Desktop
Offers functional mobile and desktop platforms, though they lack some advanced features.
24/7 customer support via live chat and email​​.
Customer Service
Responsive and helpful customer service, providing support through multiple channels.
Free AUD withdrawals; small fees for certain deposit methods​​.
Deposit and Withdraw
Efficient processes for deposits and withdrawals, though mainly catering to local (South African) users.

Key features

Analysis tools

Basic charting tools
Technical analysis tools, charting

Mobile APP

No
Yes

Security

High 4,9/5
High 4,6/5

Additional features

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

Anonymity

No
No

Key points

Available cryptocurrencies

300+
150+

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.
AscendEX offers a well-designed and user-friendly platform that caters to both novice and experienced traders. The interface is intuitive, and the platform provides helpful resources to guide users through the trading process.

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 good value for money, offering low trading fees and access to a variety of trading tools and features.

Countries of operation

Australia, New Zealand
United States, United Kingdom, Canada, Australia, Singapore

Best for

Best for Australian investors looking for a user-friendly platform with competitive fees and strong local support.
Great for both novice and experienced traders who want access to a variety of trading tools, low trading fees, and advanced features.

Base currencies available

AUD, BTC
USD, BTC, USDT

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.
Ascendex, formerly known as BitMax, offers comprehensive trading options including spot, margin, and futures trading. Its advanced trading tools are beneficial for seasoned traders. However, new users might find the platform’s complexity challenging initially.

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.
Ascendex offers diverse deposit and withdrawal methods including bank transfers, credit/debit cards, and crypto deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive.

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.
Ascendex’s account opening is fully digital and quick. Users need to provide personal information and verify their identity. The process is streamlined and user-friendly, allowing for account approval typically within a day.

KYC required?

Yes
Yes

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.
Ascendex offers customer support through email, live chat, and a comprehensive FAQ section. The response time is quick, and support is available 24/7, ensuring users can get help whenever needed.

Security

CoinSpot ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.
Ascendex ensures security through 2FA, encryption, and cold storage. While the platform is secure, it is not regulated by top-tier authorities, which might be a concern for some users.

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 on our website, I recommend Altcoin Trader for South African users new to the cryptocurrency market, given its user-friendly interface and robust security measures. While it offers a decent variety of cryptocurrencies and straightforward deposit and withdrawal processes, potential users should be aware of its limited crypto-to-crypto trading pairs and the absence of credit/debit card support. For those starting out or primarily trading in major cryptocurrencies, Altcoin Trader provides a solid platform to begin your investment journey securely.

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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.

More comparatives Coinspot and Ascendex