Is CoinSpot safe?

The short answer.

Safety

4/5 2FA, withdrawal restrictions and ISO 27001; no major incident covered.

Regulation

4.5/5 AUSTRAC-registered since 2018 and holds an AFSL.

Worth knowing

• Instant trades and recurring buys cost more than Markets orders.
• A coin listed on CoinSpot is not necessarily available on its Markets order book.
• Sending crypto to an external wallet has a separate transaction fee.

Ratings are Nodora’s own, from published sources, and are not a guarantee. A good rating does not protect you from scams, lost passwords or a falling market.

Security: controls, not a guarantee

CoinSpot describes account-level controls including two-factor authentication, session timeouts and withdrawal restrictions. Enable the controls that fit your use, keep recovery details offline and check account activity.

An account security feature is not proof that a provider cannot fail. Decide how much you need to keep on an exchange, and understand who controls the keys.

Regulation and company background

CoinSpot says it was established in 2013 and has been registered with AUSTRAC since 8 May 2018, now as a virtual asset service provider. It also holds an Australian financial services licence with a non-cash payments authorisation, and says it was the first Australian exchange awarded ISO 27001 information-security certification, since renewed under the 2022 standard.

AUSTRAC registration covers anti-money-laundering obligations, and ISO 27001 is a security-management standard. Neither is deposit insurance or a guarantee that a provider can't fail.

How to protect yourself on any exchange.

1. Turn on two-factor authentication

   Use an authenticator app instead of SMS where the exchange offers it.

2. Check the web address

   Fake login pages are the most common way accounts are emptied. Type the address yourself or use a bookmark. How to spot crypto scams ↗

3. Do not store everything on an exchange

   Coins you plan to hold for years are safer in a wallet you control. Wallet security guide ↗

4. Test withdrawals early

   Send a small amount out before you need to move a large one, so you know the limits, fees and delays.

How CoinSpot compares on safety.

Our safety and regulation ratings for all 13 exchanges, highest combined score first.

1. 1CoinbaseSafety 4 · Regulation 4.5 · Details4.25
2. 2CoinSpotSafety 4 · Regulation 4.5 · Full review4.25
3. 3Crypto.comSafety 4 · Regulation 4 · Details4
4. 4CoinJarSafety 4 · Regulation 3.5 · Details3.75
5. 5Independent ReserveSafety 4 · Regulation 3.5 · Details3.75
6. 6SwyftxSafety 4 · Regulation 3.5 · Details3.75
7. 7BTC MarketsSafety 3.5 · Regulation 3.5 · Details3.5
8. 8KrakenSafety 4 · Regulation 3 · Details3.5
9. 9OKXSafety 3.5 · Regulation 2.5 · Details3
10. 10Digital SurgeSafety 2 · Regulation 3.5 · Details2.75
11. 11BinanceSafety 3 · Regulation 2 · Details2.5
12. 12KuCoinSafety 3 · Regulation 1.5 · Details2.25
13. 13BybitSafety 1.5 · Regulation 2.5 · Details2

Common questions.

Is CoinSpot regulated in Australia?

CoinSpot says it has been registered with AUSTRAC since May 2018 and holds an Australian financial services licence with a non-cash payments authorisation. Registration doesn't protect you from market losses or provider failure.

Next steps.

Visit CoinSpot ↗Affiliate link