Comparison of Coinspot vs Paribu [ 2024 ]

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

paribu

Paribu

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0,10%/1%

Earns

No

Customer service

4/5
0,25%/0,35%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia.
3.8 – Competitive fees with strong local support in Turkey.

Level

0,10%/1%
0,25%/0,35%

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​​.
Paribu charges a trading fee structure that is slightly above the industry average, consisting of 0.35% for takers and 0.25% for makers. These fees can be reduced based on trading volume, providing an incentive for active traders. This tiered fee system aligns well with traders who maintain high monthly trade volumes, as they can benefit from reduced costs, lowering the fees to as much as 0.15% for both makers and takers under certain conditions. This approach encourages more trading activity while also supporting both casual and serious traders in managing their trading expenses effectively.

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

Paribu

paribu
Read coinspot review
  • Year Founded: Established in 2017, Paribu has been active for several years, allowing it to develop and refine its security and service offerings.
  • Number of Users: With over a million active users, Paribu has a significant user base, which underscores its popularity and reliability in the Turkish market.
  • Security Methods: Paribu prioritizes the security of its users with robust protection measures and has no history of significant security breaches, contributing to its trustworthy reputation.
  • Regulation: It operates under Turkish financial regulations, ensuring compliance with local laws which provides a layer of security and trust for its users.
  • Customer Service: Offering 24/7 customer support in Turkish, Paribu ensures that its users have access to help whenever needed, enhancing user satisfaction and trust in the platform.
  • Pros
  • User-friendly interface
  • 24/7 trading availability
  • Secure transactions
  • Cons
  • Limited global reach
  • No advanced trading tools

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Casey Block Services Pty Ltd
Unknown

Regulation

Regulated in Australia
Not regulated

Year founded

2013
2017

Founder

Russell Wilson
Yasin Oral

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Coinspot FEATURES Paribu
Low minimum trade amount ensures accessibility.
Minimum Trade
Paribu allows trading with very low minimum thresholds, making it accessible for beginners and those with limited capital.
0.1% for market trades, 1% for instant trades​​.
Trading and Transaction Fees
Paribu’s fees are slightly above average, but it offers reductions for higher volume traders, balancing cost with trading activity.
Supports over 400 cryptocurrencies​​.
Number of Cryptocurrencies
Paribu offers a moderate variety of cryptocurrencies, primarily focusing on major ones, which might limit options for those looking to trade less common coins.
Extensive crypto-to-crypto trading pairs available.
Crypto-to-Crypto Trading Pairs
The platform has limited crypto-to-crypto pairs, focusing mainly on fiat to crypto transactions, which could be a downside for versatile traders.
Clear and detailed information, but some fees are high.
Website Transparency
The website provides clear information about trading conditions and fees, though some details about governance and operations could be more comprehensive.
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
As Paribu focuses primarily on cryptocurrency trading within the Turkish market, the absence of an exchange card limits the utility and flexibility for users seeking integrated financial services like spending crypto directly for purchases or earning rewards. This could be an area for potential development to enhance user engagement and overall platform utility.
Secure wallet services with multi-chain support​​.
Storage Offering
Offers secure storage solutions, but lacks some advanced security features like multi-sig wallets or insurance on assets.
Offers staking for 23+ coins with competitive APYs​​.
Staking and Rewards
Limited staking options are available, which might not cater to users looking to earn through staking or participation in network security.
User-friendly mobile app available for iOS and Android​​.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and well-designed, offering good usability but lacking some advanced trading tools.
24/7 customer support via live chat and email​​.
Customer Service
Excellent customer service with 24/7 availability and multiple support channels, including direct responses.
Free AUD withdrawals; small fees for certain deposit methods​​.
Deposit and Withdraw
Offers multiple deposit and withdrawal methods but can improve by adding more international options and reducing fees for certain transactions.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

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

Additional features

Instant buy/sell, staking, Coinspot Bundles, SMSF services
Staking, fiat on/off ramps, Paribu Earn, educational resources

Anonymity

No
No

Key points

Available cryptocurrencies

300+
50+

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.
Paribu features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless 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.
Offers good value for money with competitive fees and strong local support in Turkey, making it a good choice for regional users.

Countries of operation

Australia, New Zealand
Turkey

Best for

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

Base currencies available

AUD, BTC
TRY, 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.
Paribu is a popular exchange in Turkey, offering a good selection of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading tools.

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.
Paribu is popular in Turkey, offering easy fiat and cryptocurrency deposit 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.
Paribu provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes
No

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.
Paribu provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Turkey.

Security

CoinSpot ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.
Paribu ensures security through 2FA, encryption, and cold storage. It is regulated by Turkish authorities, providing a secure environment for 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 a seasoned analyst observing the dynamics of cryptocurrency exchanges, I find Paribu particularly noteworthy for investors who prioritize ease of use and are based in Turkey. The exchange’s robust local currency support and user-centric approach make it an appealing platform for beginners. It’s ideal for those seeking to enter the crypto market with a straightforward and secure trading environment. If you are navigating the complex world of cryptocurrencies for the first time, Paribu’s tailored features and strong customer support structure provide a comforting starting point.

View all comparisons against Coinspot

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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 Paribu