CoinSpot is Australia's most popular crypto exchange, with over 2 million users, and is the most trusted and secure platform. Crypto.com is a very popular crypto exchange app with plenty of benefits and features for their users. Which one should you use as an Aussie looking to get into crypto? It depends on who you are - if you are a complete newbie to crypto, CoinSpot is the better choice as it is so simple to use, with no confusing features or navigation. On the other hand, if you have a little bit of experience with cryptocurrency, Crypto.com app is excellent. It is still relatively simple to use, and is packed with features such as staking and their Visa card, where you can earn free cryptocurrency each time you make a purchase with your AUD. Keep reading this comparison article to see how each of them fare across various aspects.

CoinSpot vs Crypto.com:
Comparison Table

Header

Coins

360+

250+

Trading Fee

Market: 0.1%; Instant buy: 1%

Included in the spread

Deposit Fee

Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5%

PayID, BPAY: Free,

Credit/Debit card: 3.50%

Withdraw Fee

Free

Free

Payment Options

Bank transfer, POLi, PayID, OSKO, BPAY, Cash deposit

PayID, BPAY, Credit/Debit card

Pros

- Most secure and audited exchange in Australia

- Live chat support

- Huge range of 360+ coins

- Earn interest on 47 cryptocurrencies by staking

- Visa debit card where you can receive free crypto when you spend AUD

Cons

- Higher fees

- No crypto staking 

- Credit/debit card fee is high 

- Desktop version is limited

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Header

Coins

360+

250+

Trading Fee

Market: 0.1%; Instant buy: 1%

Included in the spread

Deposit Fee

Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5%

PayID, BPAY: Free,

Credit/Debit card: 3.50%

Withdraw Fee

Free

Free

Payment Options

Bank transfer, POLi, PayID, OSKO, BPAY, Cash deposit

PayID, BPAY, Credit/Debit card

Pros

- Most secure and audited exchange in Australia

- Live chat support

- Huge range of 360+ coins

- Earn interest on 47 cryptocurrencies by staking

- Visa debit card where you can receive free crypto when you spend AUD

Cons

- Higher fees

- No crypto staking 

- Credit/debit card fee is high 

- Desktop version is limited

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CoinSpot Pros & Cons

Pros

  • Most secure and audited exchange in Australia
  • Over 360+ coins available
  • Easy-to-use platform that is perfect for beginners
  • Live Chat customer support

Cons

  • Higher fees than Crypto.com
  • No cryptocurrency staking

Crypto.com Pros & Cons

Pros

  • Extremely popular cryptocurrency app
  • Over 250+ coins available
  • Earn interest on 47 cryptocurrencies through staking
  • Free Visa debit card that earns you crypto while you spend AUD
  • Crypto lending, crypto borrowing, and NFT marketplace

Cons

  • Expensive to pay with credit/debit card
  • Desktop version has limited functionality

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CoinSpot vs Crypto.com Features

CoinSpot is one of Australia's longest established crypto exchanges, founded in 2013. Almost a decade later, they are still growing, with over 2 million users currently using their platform. What draws so many Aussies to CoinSpot is that their site is very user-friendly, and the interface is simple and uncluttered. You can use the instant buy/sell feature to easily trade cryptocurrency, and there are even CoinSpot Bundles where you can immediately purchase a group of coins, for example the top ten by market cap, or DeFi coins, which is a great way to diversify. If you encounter difficulties, you can contact their responsive Live Chat team who are very helpful.

Crypto.com is the fastest growing cryptocurrency app, and for good reason. It has over 250+ coins to buy and sell, and you can stake almost 50 of them, where you can earn interest by HODLing. There are also extra features such as crypto borrowing, crypto lending and NFT marketplace. But Crypto.com's biggest feature is their Visa debit card. You can receive the card for free if you stake their native token (CRO) for 6 months, and then you receive benefits depending on the amount you staked. For example, you can receive 100% reimbursement on Spotify, Netflix and 10% reimbursement on Airbnb and Expedia, plus free airport lounge access, and up to 8% cashback when you spend your AUD. The cashback and reimbursement is paid out in their coin (CRO) which you can sell straight way for AUD if you like, or HODL and wait for the value to increase in the long term. 

Features: Crypto.com has plenty of great features, such as staking, crypto lending, and a Visa debit card, with heaps of benefits. CoinSpot is quite basic, but is perfect for beginners.

CoinSpot vs Crypto.com Fees

CoinSpot has several fee-free deposit methods: Bank transfer, POLi, PayID and OSKO. If you decide to deposit using BPAY the fee is 0.9%, and via cash deposit is 2.5%. 

For instantly buying or selling crypto, the fee is 1%, but trading on the market is much lower, at just 0.1%. Note that you are only able to trade around 15 different coins in this way. 

Withdrawing AUD from your CoinSpot account to your bank is free of charge.

Crypto.com has free deposits via PayID and BPAY, but if you want to pay with credit or debit card, it will cost you 3.50%.

Buying and selling crypto has no commission, but the fees are included in the spread. 

When you withdraw AUD from Crypto.com to your bank account, there is no charge.

Fees: Crypto.com and CoinSpot both have fee-free deposit methods, and free withdrawals. Crypto.com's trading fees are lower than CoinSpot's, even after taking into account the spread. The results from a comprehensive test by the #1 Australian review site shows this.

Number of Cryptocurrencies

CoinSpot has a huge selection of over 360+ different cryptocurrencies, the largest of any Australian exchange.

Crypto.com has over 250+ different coins.

Number of cryptocurrencies: CoinSpot wins with over 360+ coins, while Crypto.com has a respectable 250+. 

Deposit Methods

CoinSpot offers Bank transfer, POLi, PayID, OSKO, BPAY and Cash deposit.

Crypto.com accepts PayID, BPAY, credit card and debit card.

Deposit methods: CoinSpot offers more deposit methods, but it depends what you prefer to use. If you want to use your credit or debit card, Crypto.com supports these, but CoinSpot doesn't.

CoinSpot vs Crypto.com Security

CoinSpot is known in Australia to be the most secure, audited and trusted cryptocurrency exchange. It is the first one in Australia to be awarded the ISO 27001 certification, and it is a certified member of Blockchain Australia, making it a legitimate digital currency provider. CoinSpot's multi-layered security comprises 2FA, geo-lock logins, session timeouts, anti-phishing phrases, and custom withdrawal restrictions. The majority of CoinSpot's digital assets are stored in cold storage offline, preventing hackers from stealing them.

Crypto.com is also a very secure crypto platform, and they store 100% of users' crypto assets in cold storage offline, backed by Ledger Vault's institutional-grade custody. Crypto.com only holds corporate funds in hot wallets which are used to facilitate daily withdrawal requests from customers. In 2020, Crypto.com was awarded the ISO/IEC 27701:2019 certification, being the first crypto company in the world to receive this. Crypto.com also has cryptocurrency insurance of $750M which covers their users for physical damage, destruction, and third-party theft.

Security: There is no clear winner here, because both CoinSpot and Crypto.com are extremely secure, with ISO certifications and storage of digital assets offline. 

CoinSpot vs Crypto.com Summary

CoinSpot and Crypto.com are both excellent cryptocurrency exchanges, and there is no definite winner between these two. Ultimately, it depends on what you need from your crypto platform. For beginners to crypto, CoinSpot is the better choice since it is very user-friendly, and has a live chat support team that is always ready to help. Crypto.com is slightly more confusing to use, but if you have a little experience with cryptocurrency or if you have someone to guide you through it, you will have no issues. There are many more features on Crypto.com including the Visa debit card that everyone is talking about. If you are still unsure about which one you want to use, you can also read our article on the best crypto exchanges for Aussies where you can find out more information.

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About the Author Andy Carter

Andy Carter is the CEO of Freedom Dividend, where he teaches you about dividend income that can change your life for the better. As a financial expert, Andy explores securities investing (stocks & shares) with an aim to provide a steady flow of income, enough to sustain you in your life.

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