Coinspot wallet review
Australia
- Overview
- Security
- User Experience
Coinspot is a digital multi-currency exchange and wallet platform in Australia. They offer a hot wallet for every coin they trade. It has an intuitive interface that makes it easy-to-use for all type of consumers. They offer a wide range of Cryptocurrencies and Australian dollar support.
Coinspot is a multi-Crypto wallet platform designed for all types of consumers and is easy to use. The consumer can use a bank account to deposit AUD and to withdraw without any fee. There are no monthly costs included. Currency exchange is peer-to-peer.
Company / organization behind the wallets
The company is based in Melbourne, Australia and it was founded by the former programmer Russell Wilson in 2013. His purpose was to enable anyone to enter the digital currency market by offering trustful and easy-to-use services. There have been no major issues reported with this platform.
Coinspot has a strong user verification process. When the user wants to sign up, extensive personal information is required in accordance with AUSTRAC requirements. Transactions are available after full verification of the information provided. This is a server side wallet designed for easy accessibility and versatility. It is not recommended for saving large amounts of coin.
Coinspot is designed for each type of user. After an involved process of verification, the platform offers several features. They also have an affiliate program and deliver moderate customer service. The user can buy, sell, send, spend or store digital currencies without too much hassle.
Summary:
Overall, Coinspot is a multi-currency platform where no special or technical skills are required. In accordance with Australian law they have a strong verification process and your account is not anonymous. Because it's a hot wallet, we recommend users to transfer their assets to cold storage for savings.