Comparison of Bitrue vs Coinspot [ 2024 ]

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

Your expert: Alejandro Borja

bitrue

Bitrue

  • Threenvest valuation: 4,1/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

coinspot

Coinspot

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0,01%/0,35%

Earns

Yes

Customer service

4/5
0,10%/1%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Low fees, particularly for XRP trading pairs.
3.9 – Reasonable fees with strong local support in Australia.

Level

0,01%/0,35%
0,10%/1%

Brief explanation

Bitrue’s commission structure is designed to be competitive and accessible for traders of all levels. The exchange utilizes a tiered fee system, where the fees decrease as a user’s trading volume increases, incentivizing active trading. Typically, trading fees range from 0.098% to 0.028% for takers and from 0.075% to 0.020% for makers, which are below industry averages. This structure makes Bitrue an attractive option for both high-volume traders seeking to minimize costs and newcomers looking to enter the crypto trading space affordably.
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​​.

Bitrue

bitrue
Read bitrue review
  • Security Methods: Bitrue implements robust security measures to protect user assets. These include two-factor authentication (2FA), cold storage of the majority of funds to minimize exposure to potential hacks, and encryption technology to secure users' data. These stringent security protocols are a cornerstone of Bitrue’s reliability.
  • Year Founded: Established in 2018, Bitrue has quickly risen to prominence in the cryptocurrency space. Despite being relatively new, it has built a reputation for reliability and innovation, indicating a solid foundation and a commitment to long-term growth and stability.
  • Trading Volume and Liquidity: Bitrue boasts a high trading volume and liquidity, which is indicative of a healthy trading environment. High liquidity ensures that traders can execute transactions quickly and at predictable prices, making Bitrue an attractive platform for both casual and serious traders.
  • Customer Service: Bitrue is known for its responsive and helpful customer service. Having a reliable customer support team is essential in the crypto space where users often need quick and effective solutions to their issues. Bitrue's commitment to excellent customer service fosters trust and user satisfaction.
  • Reputation and Reviews: The exchange has garnered positive reviews and a good reputation within the cryptocurrency community. User feedback often highlights the platform's user-friendly interface, range of supported cryptocurrencies, and the reliability of its services. Positive community feedback and testimonials further reinforce the trustworthiness of Bitrue.
  • Pros
  • Broad selection of cryptocurrencies.
  • Competitive trading fees.
  • Strong security measures.
  • Cons
  • Limited geographic availability.
  • No advanced trading tools.

Read bitrue review

Coinspot

coinspot
Read bitrue review
  • 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.
  • Pros
  • Extensive cryptocurrency selection.
  • User-friendly trading platform.
  • Robust multi-layer security features.
  • Cons
  • Higher fees than competitors.
  • Limited advanced trading features.

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Product selection

Native token

Token BTR (Bitrue Coin)
No

Earns

Yes
No

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Bitrue
Casey Block Services Pty Ltd

Regulation

Not regulated
Regulated in Australia

Year founded

2018
2013

Founder

Curis Wang
Russell Wilson

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Bitrue FEATURES Coinspot
Bitrue allows users to engage in trading with relatively low minimum trade requirements, making it accessible for beginners.
Minimum Trade
Low minimum trade amount ensures accessibility.
Bitrue offers competitive trading fees that are lower than many other exchanges, though they can vary based on market conditions and trading volume.
Trading and Transaction Fees
0.1% for market trades, 1% for instant trades​​.
Offers a wide range of cryptocurrencies, providing users with many trading options across popular and niche markets.
Number of Cryptocurrencies
Supports over 400 cryptocurrencies​​.
Bitrue excels in offering a diverse array of crypto-to-crypto trading pairs, facilitating robust trading strategies.
Crypto-to-Crypto Trading Pairs
Extensive crypto-to-crypto trading pairs available.
While Bitrue provides essential information, some users might find it difficult to locate detailed data about certain policies or operational aspects.
Website Transparency
Clear and detailed information, but some fees are high.
Bitrue lacks an exchange card feature, which is a notable omission compared to some competitors who provide this convenient service for everyday transactions.
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.
Provides secure storage options with the integration of cold storage solutions, enhancing the safety of user funds.
Storage Offering
Secure wallet services with multi-chain support​​.
One of Bitrue’s strengths, offering competitive staking options and rewards that are attractive to users looking to earn passive income.
Staking and Rewards
Offers staking for 23+ coins with competitive APYs​​.
Both the mobile app and desktop platform are well-designed, offering full functionality with occasional user interface complexities.
Mobile App and Desktop
User-friendly mobile app available for iOS and Android​​.
Offers 24/7 customer support, though response times and the quality of support can vary, reflecting room for improvement.
Customer Service
24/7 customer support via live chat and email​​.
Bitrue provides a variety of deposit and withdrawal methods, although some users have reported delays with fiat transactions.
Deposit and Withdraw
Free AUD withdrawals; small fees for certain deposit methods​​.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

Yes
No

Security

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

Additional features

Power Piggy staking, futures trading, Bitrue token (BTR) rewards, lending services
Instant buy/sell, staking, Coinspot Bundles, SMSF services

Anonymity

Yes
No

Key points

Available cryptocurrencies

100+
300+

User-friendliness

Bitrue offers a user-friendly platform that is easy to navigate, catering to both beginners and experienced traders. The interface is designed to facilitate smooth and efficient trading.
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

Provides good value for money with low trading fees and a focus on XRP trading pairs, making it an attractive option for XRP enthusiasts.
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

Best for XRP enthusiasts and other traders looking for a platform with low trading fees and a focus on XRP trading pairs.
Best for Australian investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

USD, USDT, BTC
AUD, BTC

Account

Trading

Bitrue offers a wide selection of cryptocurrencies and is known for its staking and loan services. It provides good liquidity but has faced some security issues in the past.
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

Bitrue supports multiple deposit and withdrawal methods including bank transfers and crypto. Withdrawals are processed quickly, usually within 24 hours, with low fees.
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

Bitrue provides a straightforward account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, ensuring quick access to trading.
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
Yes

Customer Service

Bitrue offers customer support via email and live chat. The support team is responsive, and support is available 24/7, ensuring users get timely help when needed.
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

Bitrue employs strong security features like 2FA, cold storage, 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-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Bitrue for those interested in a diverse selection of cryptocurrencies and robust security features. In my experience, Bitrue’s platform is user-friendly and ideal for both beginners and experienced traders. The exchange’s commitment to maintaining competitive fees and offering a reliable customer support service makes it a solid choice for anyone looking to engage with the crypto market effectively.
Xavier-tarraso-mascarell.jpg

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.

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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 Bitrue and Coinspot