Since its inception in 2013, CoinSpot has been the dominant cryptocurrency exchange in Australia. Founded in 2016, Crypto.Com is one of the cryptocurrency exchanges in Hong Kong, offering Bitcoin, Ethereum, XRP, and many other digital currencies. Both of these exchanges are well-known to cryptocurrency investors, but which is the superior platform?
After a head-to-head comparison across various factors, CoinSpot emerges as the best option for Aussie crypto investors and those seeking a highly secure crypto exchange platform. CoinSpot outperforms Crypto.com due to its user-friendly UI, their mobile application, a broad selection of supported cryptocurrencies (360+), multuple deposit methods, 24/7 customer support, staking services, NFT marketplace, and security measures.
CoinSpot vs Crypto.com Comparison Table
|Trading Fee||Market: 0.1%; Instant buy: 1%||0.6%, 1.25% (swap)|
|Deposits Fee||Free POLi, PayID, Bank Deposit||Free bank transfer, OSKO, POLi payment, PayID|
|Payment Options||Bank transfer, POLi, PayID, OSKO, BPAY, Cash deposit||Bank transfer, POLi, Credit/Debit card, OSKO, PayID|
|Daily Deposit Limit||No limit after full verification||$50k|
|Security||2FA, Biometric security, Offline cold storage, AUSTRAC registered, ISO 27001 certified, Blockchain Australia certified||2FA, Biometric security, AUSTRAC registered|
|Customer support||Live Chat support (no bots), request-a-call feature, Support Help Desk, 24/7 available||Robot chat with human assistance sometimes available for complicated issues|
CoinSpot vs Crypto.com: Pros & Cons
Pros & Cons: CoinSpot
More than 360 different coins, more than any other Australian exchanges.
The only AUSTRAC-regulated and ISO certified cryptocurrency exchange in Australia
24/7 live chat support, responsive specialist support team, request-a-call feature to organise a call with support staff
The NFT marketplace – the first of its kind in Australia to simplify the NFT buying and selling process
Simple-to-use staking feature with high rewards and no NO LOCK IN periods required
CoinSpot’s OTC offering, which allows larger trades for a low 0.1% fee with no hidden costs
Only supporting fiat currency deposits and withdrawals for AUD
Credit and debit card payments are not supported
Pros & Cons: Crypto.com
Support over 360 cryptocurrencies with spot trading, futures, and advanced order types.
Ability to receive interest on crypto holdings at a greater rate than most high-yield savings accounts
Visa card that allows users to spend their crypto and earn reward
Slow and low-quality customer support responses.
Higher trading fees for low-volume traders and those without holdings of Cronos (CRO)
High fees for credit or debit transactions (a 2.99% fee)
No crypto-to-crypto trading supported
Many coins are not available in Australia.
Limited educational resources
Some services unavailable in the U.S.
CoinSpot vs Crypto.com Customer Support
CoinSpot Customer Support
CoinSpot’s Live Chat 24/7 feature allows you to contact customer support promptly. Therefore, when you run into any problems, you can contact the customer support staff, who are very professional, attentive, and knowledgeable in resolving customer issues.
CoinSpot’s live chat support. Source: Coinculture
You can also contact the support team via the Help Desk 24/7. CoinSpot’s support staff will contact you to figure out and solve your issues, normally within 24 hours.
Additionally, CoinSpot has a comprehensive information centre with insightful lessons for beginners and a frequently asked questions area to assist new investors in acquiring Bitcoin and other digital currencies.
Crypto.com Customer Support
Customer service is available via a help page, email, or live chat and at the time of writing, Crypto.com does not offer phone support. While customer support is accessible through email and live chat, numerous customers have complained about very slow responses and a lack of timely support with account issues.
Crypto.com receives mostly negative customer ratings and is rated 2.2 out of 5 stars on Trustpilot. In addition to locked accounts, and withdrawal issues, the majority of bad reviews centre on poor customer support. Some other users mention that their accounts have been hacked and they lost funds, which is a cause for concern.
Customer service issues are quite prevalent among cryptocurrency exchanges, and Crypto.com is no exception. In general, it’s a good idea to think of Crypto.com as a self-service website, since customer assistance is not always useful. It’s probably ideal for individuals who are already familiar with online financial products and need little support when issues arise.
Without a doubt, CoinSpot outperforms Crypto.com in terms of customer service, accounting for that CoinSpot acquires the confidence of a sizable user base.
CoinSpot vs Crypto.com Fees
CoinSpot charges a 1% fee for instant buy and sell transactions, so users can buy 360+ crypto assets available on CoinSpot instantly without the fear of unfilled orders. For OCT (Over-the-counter) trades and coin swap (which supports a diverse range of unique trading pairs), the exchange charges a 1% fee. You can receive a 0.1% fee for market orders where the spread is low and dictated by the users.
You don’t have to pay any fees when making instant deposits via POLi, PayID, or Direct Deposit (via OSKO). However, deposits made via BPAY incur a 0.9% fee, whereas physical cash deposits at Blueshyft newsagents are subject to a 2.5% fee.
When you withdraw AUD from your CoinSpot account to an authorised Australian bank account, CoinSpot does not charge you any fees. Also, there are no minimum or maximum withdrawal limits.
By contrast, Crypto.com’s users can get cryptocurrency purchases and sales are commission-free, but fees are included in the spread. Higher-volume traders can be eligible for fees as low as 0.04% as a maker or 0.1% as a taker without CRO staking. You can get discounted trading fees when you hold at least 5,000 CRO in your wallet. At that point, users with up to $25,000 in monthly volume only need to pay 0.36%.
Crypto.com allows users to deposit through PayID and BPAY without any fees incurred, but charges 3.50 % for those using credit or debit cards.
For withdrawals, you may be charged a fee, which varies according to the kind of cryptocurrency. The fee for Bitcoin withdrawals is 0.0004 BTC.
For both Australian and foreign investors and traders, CoinSpot is a better option due to its simple fee structure. Also, CoinSpot’s transaction fees of 1% are much lower than those charged by most Australia-based exchanges.
CoinSpot vs Crypto.com Deposit Methods
CoinSpot supports various fee-free deposit options, including Direct Deposit, PayID, POLi, and cryptocurrency. BPAY (0.9% fee) and cash deposits via BlueShyft (2.5%) are also available for users to make deposits.
You may fund your Crypto.com account by depositing cryptocurrencies you already hold, depositing Singapore Dollar (SGD) via third-party payment gateways such as Xfers or IBAN, or by depositing USD into USDC from your multi-currency account to your Crypto.com wallet. For Australian customers AUD may only be deposited via PayID, Debit/Credit card and BPAY for trading.
CoinSpot provides several deposit options suited to Australian traders. With further free and instant deposit methods, CoinSpot is the winner. Although Crypto.com accepts credit and debit cards, it comes at the cost of a hefty fee.
CoinSpot vs Crypto.com Security
Security is always the number one concern for every cryptocurrency investor, so let’s look at the security features of CoinSpot and Crypto.com.
CoinSpot Security Features
CoinSpot became a Registered Digital Currency Exchange in 2018 and complied with Australian legislation. CoinSpot always takes rigorous efforts to verify users’ identities when they establish an account, in accordance with Know Your Customer (KYC) regulations. It is Australia’s most secure and audited exchange, having gained ISO 27001 certification.
CoinSpot’s customizable features include two-Factor authentication, anti-phishing phrases, withdrawal limitations, session timeout settings, geo-lock logins and Biometric login for mobile apps. These features are designed to assist you in safeguarding your finances and assets, making CoinSpot unravelled in terms of its security.
Crypto.com Security Features
Crypto.com also has some security features, including Whitelisted external addresses and multifactor authentication transactions. Similar to CoinSpot, the exchange also notifies users when a new payee address is entered, and the Worldwide Account Protection Program, which insures users up to $250,000.
However, the exchange was hacked for $35 million in January 2022, resulting in unauthorised Ethereum and Bitcoin withdrawals and affecting 483 users. The exchange said in a statement that all withdrawals were immediately suspended and that no users suffered financial loss.
CoinSpot is the winner as it has been a well-established exchange with high security and its customers have never experienced security issues since it was founded.
CoinSpot vs Crypto.com Notable Features
Each of these two cryptocurrency exchanges has a plethora of features that combine to make them competent exchanges, but we will not go in depth on this post. l We will highlight some of the distinctive characteristics of each exchange, and if you’re interested in learning more about them, you can read our complete evaluations here: CoinSpot review, and Crypto.com review.
CoinSpot Notable Features
CoinSpot has always been devoted to providing a streamlined experience for its users, and its Mobile App speaks for itself. CoinSpot app is available on both Google Play and App Store, so you can easily download and install it right on your smartphone. The app is simple to use and allows you to quickly locate all listed currencies, maintain your holdings in one simple display, access your deposits and make transactions with peace of mind.
CoinSpot – Buy & Sell Bitcoin app. Source: CoinSpot
If you’ve been trading crypto for a time, you can make sensible decisions on the coins/tokens you want to invest in. But if you’re new to the crypto sphere, you will find CoinSpot’s Bundles useful. This feature enables you to diversify your portfolio to hedge against risk. More importantly, you can cut down the fees by just paying one time for the whole bundle instead of paying the fee for each coin (in some instances 10 at a time).
CoinSpot is among the first crypto exchanges in Australia to provide staking services. You can use a CoinSpot Staking wallet to store your Proof of Stake (PoS) coins and expand your holdings over time. The exchange now supports staking on 22 different cryptocurrencies, including major coins/tokens such as Bitcoin, Ethereum, Cardano, Solana, Avalanche and Terra. The returns (APY – Annual Percentage Yields) start at 4.2% and go up to a competitive 78%. Most Australian exchanges that provide staking have far fewer alternatives and significantly lower payouts. Also, CoinSpot’s staking service incurs no fees, no minimum or maximum amounts to stake as well as no lock-up period.
CoinSpot is Australia’s first platform to let users make direct purchases through its in-platform NFT Marketplace. It’s a much-appreciated feature that streamlines the process of purchasing and selling some of the most popular NFT collections. The NFT marketplace has a carefully curated selection of NFT projects that can be purchased directly from your CoinSpot account. If you wish to sell an NFT, you can do it on CoinSpot. Gone are the days when you had to muck around on Opensea to set up a crypto wallet and load the right crypto to place a bid. CoinSpot makes NFTs easy!
CoinSpot’s in-platform NFT marketplace. Source: CoinSpot
Crypto.com Notable Features
Similar to CoinSpot, Crypto.com has mobile applications accessible on both Android and iOS devices. If you’re used to trading stocks using a smartphone app, you’ll likely have a good experience with this app. The app allows you to check your portfolio and a list of popular assets instantly. It offers everything you need to trade currencies, earn money by staking your coins, make payments, and sign up for a Crypto.com credit card.
Staking is a method to earn more cryptocurrency by locking it in for a fixed time, similar to how you earn interest at a bank. The staking feature of Crypto.com allows you to earn up to 14.5% annual APR on staked coins (it is much lower than the APR offered by CoinSpot). While you wait for your cryptocurrency to appreciate in value, you may as well earn incentives from it.
Crypto.com’s users can make spot and margin trading on over 260 popular trading pairs. Since the exchange launched Derivatives in February 2022, it has provided over 70 perpetual contracts in addition to quarterly and monthly futures contracts for BTC and ETH. Users can participate in 13 Supercharger events, enabling them to unlock additional value for their crypto assets.
Crypto.com NFT marketplace, launched in March, allows users to purchase NFTs directly on Crypto.com. The platform debuted with approximately 220 NFT collections in conjunction with about 150 creators, including well-known businesses and high-profile creators and celebrities such as the Aston Martin Cognizant Formula One Team, Ugonzo Art, Snoop Dogg, and BossLogic.
Crypto.com’s in-platform NFT marketplace. Source: Crypto.com
The two platforms offer user-friendly mobile apps, staking services and in-platform NFT marketplaces. However, CoinSpot is better thanks to its Bundles feature and competitive staking APR, as it helps new investors diversify their investment portfolios and direct rewards from their holdings.
CoinSpot vs Crypto.com: Supported Cryptocurrencies
Crypto.com and CoinSpot are two of the most popular cryptocurrency exchanges, allowing users to buy and trade various cryptocurrencies.
CoinSpot – Supported Cryptocurrencies
CoinSpot supports a lot more cryptocurrencies compared to any other Australian-based exchanges. It enables users to buy, trade, and swap many cryptocurrencies (now over 360+) and regularly adds new coins to ensure that users will find the currency they are looking for. For fiat currencies, the Australian-based platform currently supports only AUD.
CoinSpot supports over 360+ cryptocurrencies. Source: CoinSpot
Crypto.com – Supported Cryptocurrencies
Crypto.com offers a broad range of cryptocurrencies compared to other cryptocurrency exchanges or trading platforms globally. Crypto.com supports over 600 different currencies and 1440 tokens and constantly adds new ones to its platform. Along with USD, the exchange supports other fiat currencies such as AUD, CAD, GBP, EUR, HKD, JPY & 35 more.
Crypto.com supports a greater number of cryptocurrencies than CoinSpot, but it’s worth noting that both support major cryptos on the market that investors can focus on to reduce the potential risks.
Overall winner – CoinSpot
CoinSpot is unquestionably the winner of our comparison. When you ever run into any difficulties, you can always contact their professional customer support service 24/7. If you need help during a transaction, you can easily reach out to a live agent using the live chat or Help Desk. The exchange has a very intuitive user interface that even the most unskilled user can navigate. CoinSpot’s users can trade various cryptocurrencies with the highest level of security, making it an ideal option for investors and traders both in Australia and internationally.
Is CoinSpot or Crypto.com better?
CoinSpot is among the top-notch cryptocurrency exchanges globally, while Crypto.com is a less popular name with investors. CoinSpot is undoubtedly better for Aussie investors and first-time traders. It is simple to use CoinSpot with a wide range of premium features and the 24/7 Live Chat support and Help Desk are very helpful.
Why is there a price difference between CoinSpot and Crypto.com?
There are some disparities in crypto rates/prices among exchanges due to differences in supply and demand, trading volume, and other variables. Exchanges also charge different fees for trading, depositing, and withdrawing funds. CoinSpot and Crypto.com provide an excellent user experience, while the latter charges much lower fees.
Is CoinSpot the same as Crypto.com?
CoinSpot is among the top-notch cryptocurrency exchanges in Australia, while Crypto.com is one of the Singapore-based crypto platforms. They differ in some aspects, including trading fees, deposit methods, supported cryptos, customer support and many more. However, it’s clear that CoinSpot is best suited for new traders and most Australian crypto investors.