CoinSpot is widely known as Australia's most popular crypto exchange, with over 2.5 million users, while Zipmex is a newer trading platform founded in 2019, and only expanding to Australian users recently. Which of these two crypto exchanges should you choose for your investing and trading - the longstanding favourite, or the new rival? Keep reading and you can see how we compared these two platforms head-to-head before you decide for yourself.

CoinSpot vs Zipmex:
Comparison Table

Header

Coins

360+

50+

Trading Fee

Market: 0.1%; Instant buy: 1%

0.2%

Deposit Fee

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

1% (capped at $3)

Withdraw Fee

Free

$5

Payment Options

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

Bank transfer

Pros

- Most secure and audited exchange in Australia

- Live chat support

- Huge range of 360+ coins

- Staking on 21 coins

- NFT marketplace

- Low trading fee of 0.2%

- Earn interest on crypto with fixed or flexible terms

- Live chat support

Cons

- Higher trading fees

- Deposit and withdrawal fees 

- Fewer coins available

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Header

Coins

360+

50+

Trading Fee

Market: 0.1%; Instant buy: 1%

0.2%

Deposit Fee

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

1% (capped at $3)

Withdraw Fee

Free

$5

Payment Options

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

Bank transfer

Pros

- Most secure and audited exchange in Australia

- Live chat support

- Huge range of 360+ coins

- Staking on 21 coins

- NFT marketplace

- Low trading fee of 0.2%

- Earn interest on crypto with fixed or flexible terms

- Live chat support

Cons

- Higher fees

- Deposit and withdrawal fees 

- Fewer coins available

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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
  • Staking on 21 coins
  • NFT marketplace

Cons

  • Higher trading fees than Zipmex

Zipmex Pros & Cons

Pros

  • Low trading fees of 0.2%
  • Stake your crypto for fixed or flexible terms to earn interest
  • Live Chat customer support
  • Advanced charts by TradingView for experienced traders
  • Instant buy/sell for beginners

Cons

  • Need to pay fees to deposit and withdraw AUD
  • Not as many cryptocurrencies on offer compared to CoinSpot

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CoinSpot vs Zipmex Features

CoinSpot is one of Australia's oldest crypto platforms, founded way back in 2013. They have built up quite a following, with more than 2.5 million registered users on their site. One of the main reasons CoinSpot attracts so many users is because they have made it super easy to use, and you can buy crypto in minutes, even with no prior experience.

The instant buy and sell function makes it so easy to choose what you want to invest in, and they also have CoinSpot Bundles where you can easily diversify your investments. There are different Bundles available, which include a group of similar coins, for example the top ten by market cap, or coins linked to DeFi. If you are a beginner, it is a great idea to buy some Bundles rather than trying to pick your own cryptocurrencies. If you find yourself stuck with anything, you can easily contact their live chat support team who are always very helpful.

CoinSpot also boasts some great features for a basic exchange: they offer staking on 21 coins, and they even have an NFT marketplace where you can buy and sell NFTs straight from your account.

Zipmex is a newer crypto exchange, only founded in 2019, and has recently made it to Australian shores. However, that is not to say they don't have a lot of features, in fact it is the opposite. With Zipmex, you can use instant buy and sell, or trade on the market, depending on your preferences.

Zipmex also has staking available where you can earn interest on your crypto by locking it in for a fixed period, or even keeping it flexible. Zipmex also has a native token (ZMT) that you can trade on their platform. If you stake your ZMT, you not only receive interest on the ZMT, but you access lower trading fees and receive higher interest rates on your other staked coin.

Features: CoinSpot has a lot of great features that is surprising for a basic exchange. They have staking on 21 coins and an NFT marketplace, as well as 24/7 customers support with live chat.

CoinSpot vs Zipmex Fees

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

When you use the instant buy or sell feature, the fee is 1%, but trading on the market is much lower, at just 0.1%. However, you can only trade around 15 different coins on the market. 

Withdrawing AUD to your bank is free of charge.

Zipmex charges 1% for depositing, which is capped at a maximum of $3.

The trading fees on Zipmex are 0.2%, it doesn't matter if you are instantly buying/selling or trading on the market. The fees can be lowered depending on how much ZMT coin you stake.

Withdrawing AUD from Zipmex to your bank account incurs a flat fee of $5.

Fees: Zipmex has lower trading fees of only 0.2%, which is much lower than CoinSpot's 1%. Zipmex does charge a 1% deposit fee (up to $3 maximum) and a $5 withdrawal fee, but if you are trading a lot, the amount you save on trading fees will cover the cost of the deposit and withdrawal fees.

Number of Cryptocurrencies

CoinSpot has the widest range of coins in Australia, with over 360+ different cryptocurrencies.

Zipmex has a smaller offering of 50+ different coins.

Number of cryptocurrencies: CoinSpot wins with over 360+ coins, while Zipmex has only 50+ coins. 

Deposit Methods

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

Zipmex accepts deposits via Bank transfer only.

Deposit methods: CoinSpot offers a range of deposit methods, whereas Zipmex only supports bank transfer.

CoinSpot vs Zipmex Security

CoinSpot is well-known as the most secure, audited and trusted cryptocurrency exchange in Australia. It is the first Australian platform to receive the ISO 27001 certification, and it is also a certified member of Blockchain Australia, meaning it is a legitimate digital currency provider. CoinSpot utilises multi-layered security which includes geo-lock logins, 2FA, session timeouts, anti-phishing phrases, and custom withdrawal restrictions. The vast majority of CoinSpot's cryptocurrency funds are held in cold storage offline, preventing theft and hacks.

Zipmex is another extremely secure crypto exchange, and they use KYC and stringent verification to make sure all their users are who they claim to be. Zipmex stores most of their digital assets in cold storage offline, and the rest is insured up to US$100 million by BitGo. In the unlikely event that Zipmex no longer operates, BitGo has all the digital assets, and users can withdraw their funds. Zipmex is registered with ASIC and is regulated in Australia, so you know they are legitimate. They are also a certified member of Blockchain Australia.

Security: Tie. Both of these exchanges are very secure and you cannot go wrong with either of them. CoinSpot has the ISO 27001 certification, while Zipmex carries insurance with BitGo covering up to US$100 million.

CoinSpot vs Zipmex Summary

CoinSpot and Zipmex are two top-tier cryptocurrency platforms for Aussie users, and you won't be making a poor decision if you choose either of them. Which one you prefer will depend on your personal needs and what type of investor you are. If you are a complete beginner, then CoinSpot is my recommendation for you, because they have built their whole platform around making it simple for newbies. However, if you have a little bit of experience with crypto, or even trading other financial assets, then Zipmex will be more suitable. There are more advanced charts and trading tools for experienced traders, and lower trading fees of just 0.2%. If you are still undecided, you may also want to consider some other crypto exchanges in our article on the top crypto exchanges in Australia where you might find the perfect trading platform for you.

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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