Comparison of Coinstore vs Independent Reserve [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Coinstore vs Independent Reserve comparison!

Your expert: Alejandro Borja

coinstore

Coinstore

  • Threenvest valuation: 4/5
  • US legal: Yes
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

independent reserve

Independent Reserve

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0.20%

Earns

No

Customer service

3/5
≤0,50%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for high-volume trading.
3.9 – Reasonable fees with strong local support in Australia and New Zealand.

Level

0.20%
≤0,50%

Brief explanation

Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.
Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average​​.

Coinstore

coinstore
Read coinstore review
  • Strong Security Measures: Coinstore implements robust security protocols to protect user assets. The exchange stores 70% of its funds in cold storage, uses AES-256 encryption for wallets and private keys, and requires multi-step verification for account access​​.
  • Reputation and Industry Recognition: Coinstore has received accolades within the industry, being named the best exchange in Asia by Crypto 306 and the best rising star by Crypto Expo. Such recognitions highlight the exchange’s commitment to excellence and innovation​​.
  • High Volume and User Base: Coinstore has a significant trading volume and user base. The exchange reports a 24-hour trading volume of around $144 million and supports over 1.1 million registered users across 175 countries, indicating its popularity and trustworthiness among traders​​.
  • Comprehensive Risk Control: The platform uses bank-level security measures, including real-time reconciliation and a comprehensive risk control system, to ensure the safety of user assets. This further enhances the reliability and trustworthiness of Coinstore​​.
  • Regulatory Compliance: As a Singapore-based company, Coinstore complies with the country’s stringent regulatory guidelines. This ensures that the exchange adheres to high standards of security and operational transparency​​.
  • Pros
  • Supports spot and futures trading.
  • Strong mobile app functionality.
  • Robust cold storage security measures.
  • Cons
  • No fiat currency support.
  • Limited advanced trading tools.

Read coinstore review

Independent Reserve

independent reserve
Read coinstore review
  • Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability​​.
  • Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support​​.
  • Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users​​.
  • Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter​​.
  • Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities​​.
  • Pros
  • Strong adherence to regulatory standards.
  • High level of platform security.
  • User-friendly interface for beginners.
  • Cons
  • Limited selection of cryptocurrencies.
  • No margin trading available.

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Independent Reserve Pty. Ltd.

Regulation

Not regulated
Regulated in Australia

Year founded

2021
2013

Founder

Unknown
Adam Tepper

Payment methods

Transfers

No
Yes

Mastercard

Yes
No

Wire transfer

No
Yes

Card

Yes
No

Comparative table

Coinstore FEATURES Independent Reserve
Minimum trade amount details not specified but low barrier to entry.
Minimum Trade
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
0.2% fee for spot trading, and 0.025%-0.06% for futures .
Trading and Transaction Fees
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Supports 96 tokens and 94 trading pairs .
Number of Cryptocurrencies
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
94 trading pairs available .
Crypto-to-Crypto Trading Pairs
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
Lacks detailed information on some aspects, like withdrawal fees .
Website Transparency
The website is user-friendly and transparent about fees, regulations, and available services.
Coinstore does not provide an exchange card for in-store purchases.
Credit/Debit Card
Independent Reserve does not offer a card for in-store purchases.
70% of assets stored in cold storage, AES-256 encryption used .
Storage Offering
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
No dedicated staking program mentioned .
Staking and Rewards
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
Full-featured mobile app for Android and iOS available .
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Provides 24-hour chat service but lacks direct phone support .
Customer Service
Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Only supports crypto deposits and withdrawals, no fiat support .
Deposit and Withdraw
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4,6/5

Additional features

Margin trading, futures trading, staking, Coinstore Launchpad
OTC trading, SMSF services, staking, insurance options

Anonymity

Yes
No

Key points

Available cryptocurrencies

50+
20+

User-friendliness

Coinstore features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.
Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom
Australia, New Zealand, Singapore

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.
Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.

Base currencies available

USDT, BTC
AUD, NZD, USD, BTC

Account

Trading

Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major exchanges.
Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

Deposit and withdrawal

Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.
Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.
Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

No
Yes

Customer Service

Coinstore provides support via email and live chat. The support team is responsive, but the lack of 24/7 availability can be a limitation for some users.
Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Security

Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.
Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.

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View all comparisons against Independent Reserve

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Coinstore and Independent Reserve