Comparison of Coinspot vs Mudrex [ 2024 ]

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

Your expert: Alejandro Borja

Coinspot

Your expert: Xavier Tarrasó

Mudrex

Main points

Fees

0,10%/1%

Earns

Customer service

4/5

0,25%

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 – Reasonable fees with additional benefits for automated trading.

Level

0,10%/1%

0,25%

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.

Mudrex does not charge any trading fees for its automated trading bot services, which is a significant advantage for users looking to maximize their profits without worrying about the cost of each transaction. This fee structure is particularly beneficial for both high-frequency traders and those new to the crypto markets, as it allows them to experiment with different strategies without the burden of additional costs. The absence of trading fees makes Mudrex an attractive platform for users seeking to optimize their trading efficiency and profitability in the cryptocurrency market.

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.

Mudrex

Security methods: Mudrex places a high priority on security with robust measures to protect user funds and data. This includes using encryption for data protection and storing the majority of user funds in cold storage to reduce the risk of hacking.
Reputation and Reviews: Mudrex has garnered positive feedback from users for its innovative platform and customer service. Its unique approach to automated trading through bots has been particularly well-received, contributing to its strong reputation in the crypto community.
Transparency: The platform operates on a 'no profit, no fee' basis, which ensures that they only profit when their users do. This policy promotes transparency and aligns the interests of the platform with those of its users.
Customer service: Mudrex offers dedicated customer support that assists users with their queries and concerns promptly. This reliable customer service enhances user trust and satisfaction.
Innovative investment solutions: The use of algorithmic trading bots allows users to automate their trading strategies, making sophisticated trading accessible to novices and reducing the barrier to entry in the complex world of cryptocurrency trading.

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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

Mudrex Inc

Regulation

Regulated in Australia

Not regulated

Year founded

2013

2019

Founder

Russell Wilson

Edul Patel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Coinspot	FEATURES	Mudrex
Low minimum trade amount ensures accessibility.	Minimum Trade	Mudrex allows users to start with relatively small amounts, making it accessible for beginners.
0.1% for market trades, 1% for instant trades.	Trading and Transaction Fees	One of Mudrex’s significant advantages is its no trading fee policy on automated bot strategies, which is highly cost-effective.
Supports over 400 cryptocurrencies.	Number of Cryptocurrencies	While Mudrex supports popular cryptocurrencies, its range is less extensive compared to larger exchanges.
Extensive crypto-to-crypto trading pairs available.	Crypto-to-Crypto Trading Pairs	Mudrex focuses more on trading strategies than on offering a vast number of trading pairs.
Clear and detailed information, but some fees are high.	Website Transparency	Mudrex provides clear information about its trading strategies and results, but could improve transparency regarding its operational aspects.
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	Mudrex does not currently offer a debit or credit card for customers to use in their day-to-day transactions or at their shops.
Secure wallet services with multi-chain support.	Storage Offering	Mudrex offers secure storage options, with a majority of assets held in cold storage ensuring high security.
Offers staking for 23+ coins with competitive APYs.	Staking and Rewards	Offers competitive staking opportunities and rewards, though these might be linked to specific conditions and availability.
User-friendly mobile app available for iOS and Android.	Mobile App and Desktop	The Mudrex platform is accessible via desktop and has a functional mobile interface, although it may lack some features available on the desktop version.
24/7 customer support via live chat and email.	Customer Service	Generally responsive and helpful, but there could be improvements in wait times and support hours.
Free AUD withdrawals; small fees for certain deposit methods.	Deposit and Withdraw	Deposits are straightforward, but the platform currently lacks support for direct debit/credit card deposits, and withdrawal options could be more diverse.

Key features

Analysis tools

Basic charting tools

Automated trading bots

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

Automated trading strategies, staking, Mudrex Coin Sets

Anonymity

Yes

Key points

Available cryptocurrencies

300+

Platform for crypto algorithms, not direct trading

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.

Mudrex 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 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 with competitive fees and automated trading strategies, making it an attractive option for new and experienced traders.

Countries of operation

Australia, New Zealand

United States, Canada, United Kingdom, Australia, India

Best for

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

Ideal for traders interested in automated trading strategies and competitive fees.

Base currencies available

AUD, BTC

Platform for crypto investments, not direct trading

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.

Mudrex focuses on automated trading strategies, allowing users to invest in pre-built algorithms. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

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.

Mudrex focuses on automated trading strategies and supports various deposit and withdrawal methods. Withdrawals are processed efficiently, with competitive 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.

Mudrex offers a seamless and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick and typically completed within a day.

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.

Mudrex offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which 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.

Mudrex provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

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 one of the experts on our website, I would recommend Mudrex for anyone interested in cryptocurrency trading, especially if you’re looking to leverage the power of automated trading bots. Mudrex simplifies the process by providing a platform where even those with minimal trading experience can participate effectively. The user-friendly interface and the “no profit, no fee” model make it an appealing choice for both beginners and seasoned traders. Whether you’re looking to actively manage your investments or prefer a more hands-off approach, Mudrex offers tools that can help you achieve your financial goals in the crypto space.

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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 Mudrex [ 2024 ]

Coinspot

Mudrex

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Coinspot

Mudrex

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 Mudrex