Comparison of Coinspot vs Blocktrade [ 2024 ]

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

Your expert: Alejandro Borja

Coinspot

Your expert: Xavier Tarrasó

Blocktrade

Main points

Fees

0,10%/1%

Earns

Customer service

4/5

0,30%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia.

3.9 – Competitive fees with additional benefits for European traders.

Level

0,10%/1%

0,30%

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.

Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.

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.

Blocktrade

Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.
Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.
Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.
Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.
Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.

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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

NFT marketplace

Cripto/debit card

Full name

Casey Block Services Pty Ltd

Blocktrade S.A.

Regulation

Regulated in Australia

Regulated in the UE

Year founded

2013

2018

Founder

Russell Wilson

Luka Gubo

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Coinspot	FEATURES	Blocktrade
Low minimum trade amount ensures accessibility.	Minimum Trade	Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
0.1% for market trades, 1% for instant trades.	Trading and Transaction Fees	Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
Supports over 400 cryptocurrencies.	Number of Cryptocurrencies	Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
Extensive crypto-to-crypto trading pairs available.	Crypto-to-Crypto Trading Pairs	Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
Clear and detailed information, but some fees are high.	Website Transparency	The website provides clear information about trading conditions and fees, though some users might seek more detailed data on security practices.
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	Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Secure wallet services with multi-chain support.	Storage Offering	Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Offers staking for 23+ coins with competitive APYs.	Staking and Rewards	Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
User-friendly mobile app available for iOS and Android.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
24/7 customer support via live chat and email.	Customer Service	Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Free AUD withdrawals; small fees for certain deposit methods.	Deposit and Withdraw	Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.

Key features

Analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

300+

10+

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.

Blocktrade provides a straightforward and easy-to-use platform, ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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 focus on European markets, making it a good choice for regional users.

Countries of operation

Australia, New Zealand

Germany, Austria, Switzerland, Slovenia, France

Best for

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

Ideal for European investors looking for a reliable platform with competitive fees and a focus on security.

Base currencies available

AUD, BTC

EUR, 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.

Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable for beginners.

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.

Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

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.

Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick and typically takes less than a day to complete.

KYC required?

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.

Blocktrade provides support via 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.

Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

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 Tarrasó

As an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.

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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.

Comparison of Coinspot vs Blocktrade [ 2024 ]

Coinspot

Blocktrade

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Coinspot

Blocktrade

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Coinspot and Blocktrade