Launched in 2013, CoinSpot is the biggest Australia-based crypto exchange, with more than 2.5 million customers. Founded in 2008, Plus500 is a trading platform that offers tradable assets for investors in Australia and worldwide. Crypto investors and traders may have heard of these platforms, but which one is the best? What are the differences between Coinspot vs. Plus500?
In our comparison, Coinspoit is indeed more suitable for Australian crypto traders and new investors. We ranked this exchange as the best accessible one to Australians. CoinSpot is world-famous for its user-friendly UI and mobile app, a wide range of cryptocurrencies (over 350+), diverse deposit methods, 24/7 customer support, competitive staking services, in-platform NFT marketplace, and high-level security measures.
CoinSpot vs Plus500 Comparison Table
 |
 |
|
| Coins | 350+ | 50+, including BTC, Litecoin, and Crypto indexes. |
| Trading Fee | Market: 0.1%; Instant buy: 1% | Trading fees: Free; Account fee: $10/month |
| Deposit Fee | Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5% | Bank Transfer: Free |
| Withdrawal Fee | Free | Free |
| Payment Options | Bank transfer, POLi, PayID, OSKO, BPAY, Cash deposit | Bank transfer, Visa or MasterCard debit/credit cards, PayPal, Skrill |
| Daily Deposit Limit | No limit after full verification | AUD$20K |
| Security | Biometric security, Offline cold storage, 2FA, ISO 27001 certified, AUSTRAC registered | Biometric authentication, 3 tier-1 and 4 tier-2 regulators |
| Website | www.coinspot.com.au | www.plus500.com.au |
| Coins | 350+ | 50+, including BTC, Litecoin, and Crypto indexes. |
| Trading Fee | Market: 0.1%; Instant buy: 1% | Trading fees: Free; Account fee: $10/month |
| Deposit Fee | Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5% | Bank Transfer: Free |
| Withdrawal Fee | Free | Free |
Coinspot vs Plus500: Pros & Cons
Pros & Cons: CoinSpot
Pros
Over 350 cryptocurrencies are available to trade, more than other Australia-based crypto exchanges.
A safe and audited crypto exchange AUSTRAC-regulated and ISO certified.
The NFT marketplace is available for NFT trading.
Staking service requires no lock-in periods and pays rewards directly to users’ accounts.
CoinSpot’s OTC offering accepts larger trades for a low 0.1% fee with no hidden costs.
24/7 live chat support, request-a-call feature to organise a call with support staff, Help Desk
Cons
Currently, it supports only fiat currency deposits and withdrawals for AUD.
Pros & Cons: Plus500
Pros
Plus500 provides users with a wide variety of tradable symbols, including CFDs and shares.
Users can trade cryptos with up to 1:2 leverage; it’s possible to start with as little as AU$200 to gain up to AU$400 capital!
The web platform and mobile app have charting features, with a streamlined trading experience across devices.
Cons
Unlike CoinSpot, the Plus500 platform provides very basic features, making it not ideal for active traders.
There is a limit on the number of products that customers can deal in CFDs.
Plus500’s customer services are restricted to online chat, and email support
Plus500 does not accept U.S. clients due to regulatory constraints
Third-party analytical and automation tools cannot be integrated directly with the WebTrader.
Plus500 lacks comprehensive educational materials and resources for users to learn about financial markets.
Plus500’s research content includes just a few daily articles, and its video content lacks the latest market updates or analysis.
CoinSpot vs Plus500 Fees
As crypto investors or traders, you should know how much the exchanges or platforms charge each time you make a transaction. However, this seems not straightforward since some platforms attempt to mask extra prices via bizarre fees.
Deposit Fees
It’s easy to deposit funds into your Coinspot account to buy Bitcoin without any fees. CoinSpot users can make free and instant deposits via PayID, POLi, or Direct Deposit (through OSKO). If you deposit via BPAY, there is a small fee of 0.9%.
Plus500 charges no deposit fees, but it’s worth noting the trading platform does charge a $10 account fee each month, which is similar to a subscription model.
Trading Fees
CoinSpot charges a 1% trading fee for instant buy and sell transactions. Coinspot’s customers can benefit from a 0.1% fee for all market trade and OTC orders that support trading of 50K or more with competitive spreads. Also, the CoinSwap feature supports a diverse range of unique trading pairs and you can be charged with a competitive 1% fee.
As is the norm in the brokerage industry, Plus500 generates its revenues principally from customer trades that “cross” the bid/ask spread. The trading broker does not charge commissions on client transactions, and the spread does not vary with trade size. Traders can qualify for a professional account that raises their maximum leverage ten-fold, from 1:30 to 1:300.
Withdrawal Fees
When you transfer 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.
Plus500 provides the vast majority of its services for free, including withdrawals. If you are a verified client, AUD withdrawals may take up to 3 days to process. Plus500 does not allow users to withdraw cryptocurrency from a hard wallet.
Winner: Tie
Plus500 does not require any fees for deposits or withdrawals, while CoinSpot charges a small fee for trading and other transactions. However, unlike the brokerage platform Plus500, CoinSpot has a well-established reputation in the crypto sector. In addition, CoinSpot fee structure is far clearer and more reasonable than most of Australia-based exchanges.
CoinSpot vs Plus500 Deposit Methods
Coinspot features a wide diversity of free deposit options, including Direct Deposit, PayID, POLi, and cryptocurrency. It’s also possible for customers to deposit via BPAY (0.9% fee) or at a newsagent (2.5% fee).
Plus500 allows its users to deposit via three methods: Visa or MasterCard debit/credit cards, electronic wallets (Skrill or PayPal), and bank transfers. The minimum deposit is $100 for debit/credit cards and electronic wallets and $300 for bank transfers. If you use an international credit card or make a bank transfer, the bank may charge a conversion fee.
Winner: Coinspot
CoinSpot clearly outperforms Plus500 since it supports more deposit methods, whereas Plus500 accepts only three ways, and you may have to pay a conversion fee.
CoinSpot vs Plus500 Notable Features
Plus500 and Coinspot are good platforms with several highlighting features to bring the best experience to their customers. Instead of delving in-depth into every service they provide, this section will highlight the qualities that set them apart.
CoinSpot Notable Features
CoinSpot features an intuitive and simple-to-use interface, making the buying and selling process easier for beginner investors. Users can diversify their portfolios thanks to the CoinSpot Bundles and Top 10 Market Cap Bundles services. The exchange platform also enables users to buy many cryptocurrencies in a single transaction, which spreads their risk, reduces costs, and affixes an average cost over multiple cryptos.
Additionally, CoinSpot is one of the first crypto exchanges in Australia to support staking. Currently, the site supports stakes in 22 different currencies, including major coins/tokens such as Bitcoin, Ethereum, Solana, Cardano, 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, the staking service does not require lock-in periods, staking fees, or no minimum/maximum staked amounts.
CoinSpot’s platform now offers an NFT Marketplace, a fantastic tool for Australians. While everyone is familiar with NFTs, acquiring one has never been simpler. There is no need to register with OpenSea or create a wallet; all transactions are conducted in ETH. CoinSpot enables you to buy it straight from your linked cryptocurrency. Besides, you may sell an NFT straight on CoinSpot. To know more about its premium features, you can read our detailed CoinSpot review.
Coinspot’s NFT marketplace. Source: Coinspot.com.au
Plus500 Notable Features
For inexperienced traders, Plus500’s browser-based WebTrader is good to start before moving to a more complicated platform. WebTrader is a basic platform that allows you to create watchlists, analyse charts, and execute and track transactions. Technical analysis charts include over a hundred technical indicators applied to various periods, from tick charts to weekly charts.,
Additionally, with the WebTrader, clients may pick from over 2,000 instruments within the same window, assess their decision using a customised technical analysis chart, and execute their transaction in just a few clicks. Regrettably, advanced traders who depend on third-party analytical and automation tools may be frustrated since none of these tools can directly be connected with WebTrader.
Plus500’s browser-based WebTrader. Source: WebTrader.
It’s also worth mentioning that the Plus500 mobile trading app is identical to its online platform cousin in terms of functionality and features. The firm only offers a simplified WebTrader platform and comparable mobile trading applications for iPhone, iPad, and Android smartphones via which customers can execute and monitor transactions. You may access the demo account by choosing the More button and then selecting switch to demo mode.
Winner: Coinspot
CoinSpot is more suitable for both new and experienced investors and traders who favour a more user-friendly and convenient exchange with the in-platform NFT marketplace, high security features, 27/7 Live support and many other exclusive features.
CoinSpot vs Plus500: Supported Cryptocurrencies
Plus500 and CoinSpot are the leading trading crypto platforms that allow users to purchase and sell a wide range of cryptocurrencies.
CoinSpot – Supported Cryptocurrencies
CoinSpot supports the most cryptocurrencies compared to any Australian-based exchange. It enables users to buy, trade, and swap various cryptocurrencies (now 360+). It continually expands its cryptocurrency list, making it easier for users to locate the coin they wish to invest in. The exchange presently supports just AUD as a fiat currency.
Plus500 – Supported Cryptocurrencies
Plus500 supports a diverse selection of stocks, commodities, and ETFs. However, they do not support native cryptocurrencies or crypto wallets as CoinSpot does. You can trade over 50 cryptocurrencies, including Bitcoin, Ripple XRP, Ethereum and other crypto indexes, by speculating on their price movements. But you DO NOT OWN or have any actual rights to the underlying assets (Trading without physically acquiring the underlying asset)
Winner: Coinspot
Coinspot vs. Plus500 both support some major cryptos, but Coinspot undoubtedly wins here as it supports a greater number of cryptocurrencies than Plus500
CoinSpot vs Plus500 Security
Security is among the significant concerns for every crypto investor and trader, and both CoinSpot and Plus500 are leaders in this regard.
CoinSpot security features
CoinSpot is a member of AUSTRAC and complies rigorously with anti-money laundering and know-your-customer (AML/KYC) regulations. Also, the platform is a recognised member of Blockchain Australia and strictly adheres to the Australian Digital Currency Industry Code of Conduct. It claims to be Australia’s most secure and audited cryptocurrency exchange and the only one certified to ISO 27001 standards.
CoinSpot’s multi-layered security features includes Two-Factor Authentication (2FA), anti-phishing phrases, customisable withdrawal limits, session timeout settings, biometric and geo-locked logins. These industry standards are in place to guarantee that Coinspot users can protect their cash and valuables to the fullest extent possible.
Plus500 security features
Plus500 is a publicly listed trading platform regulated by three tier-1 regulators (high trust), four tier-2 regulators (average trust), and zero tier-3 regulators (low trust). The brokerage platform is authorised by the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS).
In addition, Plus500’s mobile application has security features such as biometric authentication, and there is a timer that automatically logs the user out of both the web-based and mobile apps when they are not in use.
Winner: Coinspot
CoinSpot is the most secure platform because it has the best industry practices to ensure the highest security for their users.
CoinSpot vs Plus500 Customer Support
CoinSpot customer support
If you run into any problems, Live Chat support is available 24/7 to help you. I’ve used the Live Chat feature of Coinspot a few times and am always connected to a real person (no bots) within a few minutes. I’ve always found the Support Service team to be kind, professional, and capable of addressing my difficulties swiftly. You can also contact Coinspot’s specialised support staff through the Help Desk or use the new request-a-call option to schedule a call with a Coinspot support member.
Coinspot’s support is 24/7. Source: Coinculture
Plus500 customer support
Plus500’s customer care is restricted to online and email support, which means that you can hardly contact it via telephone. Should clients encounter any issues, they must submit questions using 24/7 support or an email ticketing system. However, the 24/7 support is somewhat misleading as there is no option for in-person help. When you opt for 24/7 support, it will direct you to a simple FAQs page that contains a wealth of pertinent information and answers to the frequently asked questions.
Winner: Coinspot
Coinspot clearly outperforms Plus500 due to its professionalím and various channels to support clients, and this indeed helps Coinspot earn the trust of a large number of people.
Overall winner – CoinSpot
CoinSpot is one of the leading cryptocurrency exchanges in Australia, while Plus500 is among the greatest trading platforms. However, when the aspects mentioned above are considered, it’s evident that CoinSpot is the better option for those making every first foray into the crypto space.
Coinspot supports over 350 coins and charges a flat fee of 0.1% for each transaction. The NFT marketplace is integrated directly into the Coinspot platform, allowing users to swap their currencies and take advantage of its no-lock-in staking service. Additionally, the responsive and professional 24/7 support and Live Chat help are all Coinspot’s selling points.
By contrast, Plus500 supports approximately 50 cryptocurrencies, which is rather limited than those supported by other brokerage trading platforms. Despite ensuring good security for clients, Plus500 offers no special features typically available at other online CFD brokers. Particularly, the lack of in-person online support is among the factors that make Plus500 less attractive to crypto traders.
*Comparison Table with all exchanges
 |
|
 |
 |
 |
|
| Fiat Currencies | AUD, USD, NZD, SGD | AUD | AUD | AUD, USD, GBP, EUR & 11 more | AUD, NZD |
| Cryptocurrencies | BTC, ETH, LTC, XRP, BCH, ADA & 20 more | BTC, ETH, LTC, XRP, BCH, ADA & 350+ more | BTC, ETH, BNB, ADA, XRP & 300+ more | BTC, ETH, BCH, XRP, LTC, ADA & 24 more | BTC, BTG, BCH, ADA, ETH, ETC & 310+ more |
| Deposit Methods | Bank Transfer or PayID/Osko | Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency | PayID, POLi, OSKO, Cryptocurrency | Bank Transfer, Credit card, Debit card, PayPal, POLi | POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency |
| Trading Fees | 0.5% | Market order: 0.1%, Instant buy: 1% | Market order: starts from 0.5%, Instant buy: 0.5% | Included in spreads | 0.6% |
FAQS
Why does the price differ between CoinSpot vs. Plus500?
Across exchanges and trading platforms, there are differences in the crypto rates/prices due to varying levels of supply and demand, the trading volume and other factors. In addition, the trading, deposit or withdrawal fees may differ across different platforms. This applies to all crypto platforms, and Coinspot and Plus500 are no exception.
Is CoinSpot the same as Plus500?
CoinSpot is one of the top-leading cryptocurrency exchanges in Australia, whereas Plus500 is a broker trading platform in Singapore. There are discrepancies in the transaction fees, cryptocurrencies supported, customer service and many more. Though both are good venues for trading cryptos, CoinSpot better serves Australian crypto investors and new traders favouring an exchange with a user-friendly in-platform NFT marketplace and many other useful features.
Which supports Australian users better: Coinspot vs. Plus500?
Between CoinSpot and Plus500, Coinspoit is without doubt more suitable for Australian crypto traders and investors. We ranked this exchange as the best accessible one to Australians. The rationale is straightforward: it is user-friendly, supports a wide range of cryptos, and has an in-platform NFT marketplace and special staking service. In addition, their customer support service is excellent, which helps customers resolve any issues quickly and easily.
The following review is for informational purposes only and should not be construed as financial or investment advice. It is important to note that cryptocurrency is a highly volatile and speculative market, and there is no guarantee of profit or loss. This review is based on the author’s personal experience and research, and individual results may vary. The author is not affiliated with any of the exchanges mentioned in this review and does not receive compensation for their mention. It is recommended that readers conduct their own due diligence and consult with a financial advisor before making any investment decisions.
The information regarding performance may be different from the time of publication. Past performance does not guarantee future results. While we believe that all content was accurate at the time of posting, it is possible that some offers included in the content may no longer be valid.
