Comparison of Coinspot vs Buyucoin [ 2024 ]

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

BuyUCoin

Buyucoin

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

Investing risks losing your money

Main points

Fees

0,10%/1%

Earns

No

Customer service

4/5
0,24%

Fees

Si

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

Si

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia.
3.7 – Reasonable fees but higher for certain payment methods.

Level

0,10%/1%
0,24%

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​​.
BuyUcoin charges a flat trading fee of 0.24% for each transaction, which is relatively competitive within the Indian cryptocurrency market landscape. This fee applies equally to both makers and takers, simplifying the cost structure and making it easy for users to understand exactly how much they will be charged per trade. This transparency in fee structure is a significant advantage, as it helps users plan their trading activities without worrying about variable costs or hidden charges. In addition to trading fees, BuyUcoin also implements withdrawal fees that vary depending on the cryptocurrency being withdrawn. These fees are generally in line with industry standards, although they may be slightly higher for certain assets. Importantly, there are no deposit fees, which makes it economical for users to fund their accounts. Overall, the cost of trading on BuyUcoin is balanced by the convenience and range of features it offers, making it an attractive option for both new and experienced traders in the Indian market.

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

Buyucoin

BuyUCoin
Read coinspot review
  • Security Measures: BuyUcoin employs robust security protocols including SSL encryption, two-factor authentication (2FA), and cold storage of digital assets, ensuring that user funds and data are protected against unauthorized access.
  • Volume and Liquidity: BuyUcoin handles a significant trading volume, ensuring liquidity that facilitates easier and faster transactions without substantial price volatility, which is critical for both new and experienced traders.
  • Regulatory Compliance: Operating within the legal framework of India, BuyUcoin adheres strictly to the regulatory requirements set forth by Indian authorities, which reinforces its legitimacy and trustworthiness.
  • Transparency: BuyUcoin maintains transparency in its operations with clear information on trading fees, withdrawal charges, and other pertinent operational procedures, enabling users to make informed decisions.
  • Customer Service: The exchange is committed to providing quality customer service with a comprehensive support system that includes FAQs, email support, and social media engagement, ensuring that user inquiries and issues are addressed promptly.
  • Pros
  • Low fee structure.
  • Own NFT marketplace.
  • Virtual demo account option.
  • Cons
  • Restricted to Indian investors only.
  • Higher than average trading fees.

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Product selection

Native token

No
No

Earns

No
Si

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Casey Block Services Pty Ltd
iBlock Technologies Private Limited

Regulation

Regulated in Australia
Not regulated

Year founded

2013
2016

Founder

Russell Wilson
Shivam Thakral, Devesh Aggrawal, Atulya Bhatt

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Coinspot FEATURES Buyucoin
Low minimum trade amount ensures accessibility.
Minimum Trade
BuyUCoin allows users to start trading with relatively small amounts, making it accessible for beginners.
0.1% for market trades, 1% for instant trades​​.
Trading and Transaction Fees
The platform offers competitive trading fees, although they can be higher compared to global standards, impacting high-volume traders.
Supports over 400 cryptocurrencies​​.
Number of Cryptocurrencies
Supports over 40 cryptocurrencies, providing a decent range for traders looking to explore different digital assets.
Extensive crypto-to-crypto trading pairs available.
Crypto-to-Crypto Trading Pairs
BuyUCoin offers a moderate number of crypto-to-crypto trading pairs, sufficient for new traders but limited for advanced users.
Clear and detailed information, but some fees are high.
Website Transparency
The website provides essential information; however, some users may find details on fees and specific policies need clearer presentation.
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
While BuyUcoin provides a range of innovative cryptocurrency services and trading options, the absence of a branded exchange card limits the convenience and utility for users seeking to spend cryptocurrency directly in stores or to enjoy additional cardholder benefits.
Secure wallet services with multi-chain support​​.
Storage Offering
BuyUCoin offers a secure wallet service for storing cryptocurrencies, although it’s not as feature-rich as some dedicated wallet services.
Offers staking for 23+ coins with competitive APYs​​.
Staking and Rewards
Currently lacks options for staking and earning rewards, which could enhance user engagement and investment returns.
User-friendly mobile app available for iOS and Android​​.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly, providing a seamless trading experience across devices.
24/7 customer support via live chat and email​​.
Customer Service
Slow response times have been a notable issue; improvements are needed to provide timely and effective support.
Free AUD withdrawals; small fees for certain deposit methods​​.
Deposit and Withdraw
BuyUCoin supports a variety of deposit and withdrawal methods, including direct bank transfers and UPI, though international options are limited.

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
Staking, BuyUCoin Cash rewards, recurring buys, OTC trading

Anonymity

No
No

Key points

Available cryptocurrencies

300+
30+

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.
BuyUCoin features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

Value for money

Offers good value for money with competitive fees and a user-friendly platform, making it a good choice for Australian users.
Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

Best for

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

Base currencies available

AUD, BTC
INR, 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.
BuyUCoin is an Indian exchange with a good range of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading features.

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.
BuyUCoin offers easy fiat and cryptocurrency deposit methods. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

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.
BuyUCoin provides an easy account registration process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

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.
BuyUCoin offers customer support through email and live chat. The support team is responsive and helpful, but the absence of phone support and limited hours can be a limitation.

Security

CoinSpot ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.
BuyUCoin employs standard security measures, including 2FA and encryption. 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 reviewer on our website, I recommend BuyUCoin for Indian investors looking to enter the cryptocurrency market. Its user-friendly interface, combined with a diverse selection of cryptocurrencies and innovative features like a virtual demo account and NFT marketplace, makes it an appealing choice. However, potential users should be aware of its limited international accessibility and slower customer service, which could impact trading efficiency and user satisfaction. Overall, BuyUCoin is a solid choice for those based in India seeking a comprehensive crypto trading and investment platform.

View all comparisons against Coinspot

View all comparisons against Buyucoin

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 Buyucoin