BTC, ETH, XRP, BCH, EOS, LTC, BNB, HOT, TRX, ADA, NEO - $100,000 limit per transaction. Other coin limits will range from $100 to $50,000 per transaction depending on market liquidity. These limits cannot be raised on each users CoinSpot account.
Can you convert Bitcoin Cash to cash? Yes! With CoinSpot you can convert your Bitcoin Cash to AUD (Australian dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.
Sell your coins on CoinSpot instantly and with ease using our Instant Sell trading option. Each Instant Sell transaction will incur a low fee of 1% per trade! When selling your coins through the Instant Sell page, please ensure you are viewing the Instant Sell price of the coin and not the Instant Buy price.
Large differences between the Buy and Sell price are often a result of low depth or liquidity in the market. This occurs when there is a large discrepancy between how much the market is willing to pay for a digital currency and how much the market is willing to sell the digital currency for.
Although most coin and token withdrawals are processed immediately, withdrawals can take up to 12 hours. We endeavour to process your withdrawals and have them broadcast on the Blockchain as soon as possible. However, we are unable to guarantee instant withdrawals.
In order to enable withdrawals you will need to upload an Authorisation photo. Your Authorisation photo should look like the example below and include yourself, the photo ID used to verify your account and a handwritten authorisation statement.
CoinSpot Fees
Clear & simple fees with no hidden costs anywhere. Australia's lowest fees from 0.1%. Multiple trade options to suit your needs.
CoinSpot does not charge any fees to withdraw your AUD to your nominated Australian bank account. There is also no minimum or maximum withdrawal amount.
Select the price (Trigger) you would like to sell your Auto if the market rate falls. Enter the quantity you would like to sell if the market rate falls to your selected price. Click 'Set Stop Loss' to confirm your AUTO Stop Loss and your order will be created.
Low level accounts will have a maximum deposit limit of $2000 per 24 hours. If you wish to increase this limit, you will need to further verify your account by uploading your Verification Photo to our Verification Page. For further instructions please click here.
There's no limit on the amount of crypto you can sell for cash.
Stop Loss and Take Profit Orders via our Instant Buy/Sell pages allow you to execute your trade at a 1% fee per trade.
But crypto is not legal tender in Australia and is not widely accepted as payment. Most people don't use it for everyday transactions. It is not the sort of investment to use to build your savings. Once you invest there are no regulatory restrictions on how your funds are used.
There are a number of methods to sell Bitcoin and other cryptocurrencies. In Australia, crypto can be sold via exchanges, peer to peer trading, crypto ATMs, as well as through brokers.
Yes. You can convert bitcoin to cash directly, either through a bitcoin ATM or a peer-to-peer transaction and choosing to sell it in person.
Yes. The ATO track cryptocurrency activities tied to individuals. Exchanges operating in Australia, such as Binance, & Coinspot are required to report the details of Australian users to the ATO.
Withdrawals of both cryptocurrency and fiat currency are limited. Coinbase Pro account holders have a daily withdrawal limit of $50,000/day. This amount applies across all currencies (for example, you can withdraw up to $50,000 worth of ETH per day).
Transaction Fees on CoinSpot
However, CoinSpot is different from other exchanges in that they are very transparent about the fee structure. There will be no hidden costs, and you will only pay one flat fee. Market Trades: 0.1%– All market trades will be subject to a 0.1% fee.
CoinSpot is owned and operated by Casey Block Services Pty Ltd (ABN 19 619 574 186). It has been a Certified Digital Currency Business and a member of Blockchain Australia since 2014. In addition to this, they are the only Australia-based crypto exchange to be accredited with ISO 27001 and is regulated by AUSTRAC.
Yes, CoinSpot is a safe and secure platform that lets users access crypto-related services in Australia. It is registered with AUSTRAC and holds certification from Blockchain Australia. It is also one of the few crypto platforms to hold an ISO 27001 certification for information security.
Yes, CoinSpot is a trusted cryptocurrency exchange and one of the few exchanges that has never been hacked since it was founded in 2013. It is also the first-ever Australia-based cryptocurrency exchange conferred the globally accredited ISO 27001 certification for its robust information security mechanisms.
The price changes as we adjust for depth of the order book and to ensure we can execute your order instantly. Using the above order book as an example, if you wanted to buy 1 Ethereum you could purchase at the market rate for $200 (as there are two sell orders currently placed at $200).
Does CoinSpot supply a financial statement? No, but you can use your CoinSpot trading history as a financial statement. Your CoinSpot transaction history can work as a financial statement which you can use to generate a tax report for the ATO. Just follow the steps above to download your CoinSpot transaction history.
EOFY Report from Coinspot
The Transaction History is all the trading (buys and sells). Match the sells with the previous buys to calculate capital gains. The EOFY report and tax return from the previous years will give you starting balances and previous purchase prices.