Comparison of Bitget vs Coinspot [ 2024 ]

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

Your expert: Alejandro Borja

Bitget

Investing risks losing your money

Your expert: Xavier Tarrasó

Coinspot

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,10%/1%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees, especially attractive for copy trading.

3.9 – Reasonable fees with strong local support in Australia.

Level

0,10%

0,10%/1%

Brief explanation

Bitget offers a competitive commission structure that is designed to facilitate both high-volume traders and those new to the cryptocurrency markets. The trading fees on Bitget are tiered based on the user’s 30-day trading volume, with rates decreasing as volume increases. This encourages active trading and can significantly lower costs for frequent traders. Fees for takers can vary but generally start around 0.075% and can go as low as 0.05% or even lower for VIP levels, making Bitget an attractive option for both novice and experienced traders looking for cost-effective trading solutions.

Coinspot employs a straightforward fee structure that varies depending on the type of transaction. For market trades, the platform charges a competitive 0.1% fee, which is below the industry average. Instant buy, sell, and swap orders incur a higher fee of 1%, reflecting the convenience of immediate transactions. Over-the-counter (OTC) trades also attract a 0.1% fee, making them cost-effective for large volume transactions. Deposits via POLi, PayID, and Direct Deposits are free, while BPAY and cash deposits have fees of 0.9% and 2.5% respectively. Withdrawals in Australian dollars are free, but cryptocurrency withdrawals are subject to standard network fees.

Bitget

Security Methods: Bitget employs robust security measures, including cold storage of funds, multi-factor authentication, and regular security audits by external firms. These practices ensure that user assets are well-protected against potential security breaches and hacks.
Reputation and Reviews: The exchange has built a strong reputation within the crypto community, backed by positive user reviews. Users frequently commend the platform for its reliability, user-friendly interface, and innovative features like copy trading.
Trading Volume and Liquidity: Bitget boasts a high trading volume and liquidity, which indicates a healthy trading environment. High liquidity not only enables users to execute trades more efficiently but also minimizes the cost of trading by reducing the spread between buy and sell prices.
Year Founded: Since its inception in 2018, Bitget has quickly risen to prominence in the crypto trading space. Its rapid growth and sustained presence in the market underscore its stability and enduring appeal to traders.
Customer Service: Although there is room for improvement, Bitget's commitment to customer service is evident. The platform offers support through various channels and is proactive in addressing user concerns, which helps in building trust and ensuring a positive trading experience for its users.

Read bitget review

Coinspot

Year Founded Coinspot was founded in 2013, making it one of the oldest cryptocurrency exchanges in Australia. Its longevity in the market provides a level of reliability and trust that newer exchanges might not have established yet.
Number of Users Coinspot has built a substantial user base over the years, serving hundreds of thousands of users. This large user base indicates a strong level of trust and satisfaction among its customers.
Security Methods Coinspot employs robust security measures, including two-factor authentication (2FA), SSL encryption, and cold storage for the majority of its digital assets. These measures ensure that user funds are kept secure from potential cyber threats.
Reputation and Reviews Coinspot has garnered positive reviews from its users and is generally regarded as a reputable exchange. Its commitment to providing a user-friendly platform and responsive customer support has contributed to its favorable reputation in the cryptocurrency community.
Customer Service Coinspot offers comprehensive customer service, including live chat support and a detailed FAQ section to assist users with their queries. This level of support helps ensure that users can resolve issues promptly and efficiently, further building trust in the platform.

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Account Minimum

Get started with just $50.

And 1% fee on all cryptocurrency trades.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bitget Global

Casey Block Services Pty Ltd

Regulation

Not regulated

Regulated in Australia

Year founded

2018

2013

Founder

Sandra Lou

Russell Wilson

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bitget	FEATURES	Coinspot
Bitget allows small minimum trade amounts, suitable for beginners wanting to start with low stakes.	Minimum Trade	Low minimum trade amount ensures accessibility.
Competitive trading and transaction fees, lower than many industry averages.	Trading and Transaction Fees	0.1% for market trades, 1% for instant trades.
Offers a moderate range of cryptocurrencies, covering most major and several altcoins.	Number of Cryptocurrencies	Supports over 400 cryptocurrencies.
Provides a diverse range of crypto-to-crypto trading pairs with good market depth.	Crypto-to-Crypto Trading Pairs	Extensive crypto-to-crypto trading pairs available.
The website provides clear information on fees, policies, and trading options.	Website Transparency	Clear and detailed information, but some fees are high.
Bitget does not offer an exchange card for in-store purchases.	Credit/Debit Card	CoinSpot offers a digital Mastercard that allows users to spend their cryptocurrencies for in-store and online purchases, with support for over 380 cryptocurrencies. It provides real-time AUD conversion and integration with Apple Pay and Google Pay for easy transactions.
Offers secure storage solutions with cold storage options to protect user assets.	Storage Offering	Secure wallet services with multi-chain support.
Provides staking options with competitive rewards, though not as extensive as some competitors.	Staking and Rewards	Offers staking for 23+ coins with competitive APYs.
Excellent user interface on both mobile app and desktop, offering full trading functionality.	Mobile App and Desktop	User-friendly mobile app available for iOS and Android.
Adequate customer support with room for improvement in response times and accessibility.	Customer Service	24/7 customer support via live chat and email.
Efficient deposit and withdrawal processes, though limited by lack of fiat options.	Deposit and Withdraw	Free AUD withdrawals; small fees for certain deposit methods.

Key features

Analysis tools

Futures trading tools, technical indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Copy trading, futures trading, staking, Bitget Earn program

Instant buy/sell, staking, Coinspot Bundles, SMSF services

Anonymity

Yes

Key points

Available cryptocurrencies

150+

300+

User-friendliness

Bitget offers a user-friendly platform that is easy to navigate, with a focus on copy trading. The interface is designed to be accessible to beginners, allowing them to follow and replicate the trades of experienced traders.

Coinspot 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

Delivers good value for money with low trading fees and a focus on copy trading, making it an attractive option for new and experienced traders.

Offers good value for money with competitive fees and a user-friendly platform, making it a good choice for Australian users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Australia, New Zealand

Best for

Ideal for both novice and experienced traders interested in copy trading and leveraging the strategies of successful traders.

Best for Australian investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

USDT, BTC

AUD, BTC

Account

Trading

Bitget offers extensive trading options including futures and copy trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

CoinSpot is an Australian exchange known for its user-friendly platform and wide range of cryptocurrencies. It offers competitive fees but lacks some advanced trading tools.

Deposit and withdrawal

Bitget supports multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed within 24 hours, and fees are low, making it suitable for frequent traders.

CoinSpot is an Australian exchange known for its easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, typically within a day, with competitive fees.

Account opening process

Bitget offers a seamless account registration process. Users need to fill in personal details, verify their identity, and address. The process is quick and usually takes less than a day, making it user-friendly.

CoinSpot offers a simple and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, typically taking less than a day to complete.

KYC required?

Yes

Customer Service

Bitget provides support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited hours can be a drawback.

CoinSpot offers extensive customer support through email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

Security

Bitget employs standard security measures like 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

CoinSpot ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert reviewing cryptocurrency exchanges, I recommend Bitget for traders who prioritize security and a user-friendly trading experience. The platform’s robust security measures and intuitive interfaces on both mobile and desktop make it an excellent choice. However, potential users should note the lack of fiat deposit options, which might require accessing another exchange to convert fiat to crypto before trading on Bitget. Overall, its competitive fees and diverse trading options make it a strong candidate for those looking to expand their trading strategies in the crypto space.

Xavier Tarrasó

As an expert on our website, I recommend Coinspot for anyone entering the cryptocurrency market. Its intuitive interface and robust security measures make it an ideal platform for beginners. The variety of supported cryptocurrencies ensures ample opportunities for diversification, while its responsive customer service provides excellent support. Although the transaction fees are a bit higher, the platform’s reliability and ease of use make it a strong contender for your crypto trading needs.

View all comparisons against Bitget

View all comparisons against Coinspot

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.