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One of the biggest issues for Cryptocurrency investors is fees charged by their cryptocurrency exchange of choice. In this post we will look into the question, why is
Before looking at creating a
Coinspot is one of Australia’s oldest Cryptocurrency exchanges founded in 2013 and currently has over 1million users. It enables users to buy or sell cryptocurrency, as well as trade NFTs, it has OTC trading and the functionality for SMSF users to buy, sell and swap bitcoin and ethereum.
Coinspot doesn’t charge any fees to fund your
If you wish to make an instant buy or sell with
As you can see, the fees charged by
Coinspot Trading Options
Coinspot does offer its users another alternative option for trading crypto on their exchange. You are also able to use
Additionally you can trade with their Over The Counter trading option. This will also give users the ability to get fees of 0.1%. However, you will have to have very high trading volume to access this feature of the
Coinspot So expensive?
The short answer is, it shouldn’t be so expensive. There are competitors in the market like Swytfx and
The spread is the difference between the price of the asset offered when selling, (often lower) and when buying, (often higher). With
Maybe because they are a legacy Australian crypto exchange and have bloated staff numbers they can’t afford to drop their fees. Or they are choosing to keep them high for greater profits, either way it means they have some of the highest fees in Australia. This makes