Coinstash Review – Pros, cons and fee comparisons.

In this in-depth review of Coinstash, we look at the pros and cons, fee and feature comparisons vs the top 5 Crypto Exchanges in Australia (right now in 2022). We recommend reading our full review but you can skip ahead by clicking on any of the links below. 

coinstash logo

Table of Contents

Coinstash Review – Pros, cons and fee comparisons. 

coinstash logoIn this in-depth review of Coinstash, we look at the pros and cons, fee and feature comparisons vs the top 5 Crypto Exchanges in Australia (right now in 2022). We recommend reading our full review but you can skip ahead by clicking on any of the links below. 

Table of Contents 

PROS

Hover Here

1. Supports direct AUD deposits and withdrawals
2. Low trading fees
3. Staking available
4. Users can stake xAUD stablecoin
5. Coin bundles available
6. Offers investment through SMSF fund
7. Offers recurring purchase
8. OTC and managed accounts available
9. AFSL licensed and regulated exchange

CONS

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1. Credit/debit cards are not supported
2. Limited support for fiat currencies

Fee comparison Table Coinstash VS the best Australian Crypto Exchanges

Disclaimer: Cryptocurrencies are speculative and may involve significant risks. We are not financial advisors and do not provide advice on any personal circumstances. We have strived to keep our tables as accurate as possible but fees may change from time to time without our knowledge. In some cases, thinkingofbuyingcrypto.com may earn a commission or a fee from its website tables.  

EXCHANGE

CRYPTO ASSETS

TRADING FEES (2022)

EXCHANGE REVIEW

OFFICIAL WEBSITE

DEPOSIT OPTIONS

COINSPOT

RESPONSIVE CUSTOMER SERVICE & LOW MARKET ORDER FEES

4.8/5

RATING 4.8

Thinking of buying crypto rating

300+

Market Orders 0.1%

Instant buy & Sell 1.0%

● PayID
● POLi
● Crypto
● Cash
● Bpay
● Bank Transfer Here

SWYFTX

HIGHLY TRUSTED

4.7/5

RATING 4.7

Thinking of buying crypto rating

290+

0.6%

● PayID
● Osko
● POLi
● Crypto
● Bank Transfer

DIGITAL SURGE

LOWEST FEES

4.7/5

RATING 4.8

Thinking of buying crypto rating

250+

0.5%

● PayID
● Osko
● POLi
● Crypto
● Bank Transfer

COINJAR

GREAT FOR BEGINNERS

4.3/5

RATING 4.3

Thinking of buying crypto rating

30 +

1.0% based on the transaction amount

● PayID
● Osko
● Credit card
● Debit card
● Cash
● Bpay
● Bank Transfer

COINBASE

MOST POPULAR EXCHANGE

3.39/5

RATING 4.3

Thinking of buying crypto rating

95+

Fees vary for australian traders “standard” or “Instant buy/sell”

● Debit card

Fee comparison Table Coinstash VS the best Australian Crypto Exchanges

Disclaimer:

Cryptocurrencies are speculative and may involve significant risks. We are not financial advisors and do not provide advice on any personal circumstances. We have strived to keep our tables as accurate as possible but fees may change from time to time without our knowledge. In some cases, thinkingofbuyingcrypto.com may earn a commission or a fee from its website tables.  

EXCHANGE

TRADING FEES (2022)

OFFICIAL WEBSITE / REVIEW

COINSPOT

RESPONSIVE CUSTOMER SERVICE & LOW MARKET ORDER FEES

RATING 4.8

Thinking of buying crypto rating

Market Orders 0.1%



Instant buy & Sell 1.0%

SWYFTX

HIGHLY TRUSTED

RATING 4.7

Thinking of buying crypto rating 

0.6%

DIGITAL SURGE

LOWEST FEES

RATING 4.8

Thinking of buying crypto rating 

0.5%

COINJAR

GREAT FOR BEGINNERS

RATING 4.3

Thinking of buying crypto rating 

1.0% based on the transaction amount

COINBASE

MOST POPULAR EXCHANGE

RATING 3.9

Thinking of buying crypto rating

FEES VARY FOR AUSTRALIAN TRADERS "STANDARD" OR "INSTANT BUY/SELL"


Feature Comparison table Coinstash vs CoinSpot vs Swyftx 

Let us compare Coinstash with some other cryptocurrency exchanges such as CoinSpot and Swyftx. 

 

Exchange Feature

Coinstash

CoinSpot

Swyftx

Coins Available

250+

330+

290+

Fees

0.85%

0.1-1%

0.6%

Deposit fees

Free

No fees on bank transfer, POLi, PayID, OSKO. For BPAY-0.9%, and for Cash-2.5%

Free

Withdrawal Fees

Free

Free

Free

Coin Staking

Not available

Not available

Available

Customer Service

Live chat support

Live chat support

Live chat support

Demo feature

Not available

Not available

Available

Fiat currencies

AUD

AUD

AUD, NZD

 

What service does Coinstash offer?

1. Coinstash tradeable currencies

Coinstash allows trading activity in 250+ cryptocurrencies. All major cryptocurrency tokens such as Shiba InuICPDIA and Dogecoin are available for buy/sell on the site. 

2. Investing through SMSF

For clients who prefer investing through a Self Managed Super Fund route, Coinstash allows such accounts as long as the trust is registered. In addition, the site also allows company accounts, and the onboarding process is facilitated by dedicated service managers. 

Coinstash offers Over the counter (OTC) and managed accounts for high net worth individuals. The clients can issue instructions to the account manager for operating the account easily. 

3. Recurring purchase feature

Rather than offering simple purchase and sale of cryptocurrencies, Coinstash has innovated and provides many extra features for its users. A recurring purchase feature allows a user to automatically buy a specific token in periodic intervals.

4. Crypto bundles through Coinstash

Moreover, the site also offers cryptocurrency bundles. These are thematic investments and a client can, for example, invest in a DeFi bundle that would contain coins of the DeFi space. It can help in risk diversification as you get to invest in many coins of the same sector. 

5. Staking Assets on Coinstash

But that’s not all! Coinstash also allows users to stake their assets on the platform including the ability to stake xAUD, the stablecoin version of the Australian dollar. It is one of the few exchanges that currently offer this feature. Users earn STASH, the native currency of the Coinstash platform in return for staking tokens. 

6. Coinstash offer

The site offers $10BTC as a sign up bonus and $10 can also be earned additionally if you refer a user to the site. 

7. Possibility of earning passive income with Coinstash

Moreover, users can earn a passive income through the Coinstash earn feature. Idle cryptocurrency assets can be used to ensure a yield of up to 8% and it is a great feature for users who wish to earn some passive income through their cryptocurrency tokens. 

For making use of the earn feature, all you need to do is transfer your idle and unused cryptocurrency tokens into the ‘Earn’ account and that is it! The cryptocurrency assets will start earning a stable interest that can be redeemed through reward points on the site or can even be used to purchase merchandise. 

8. Exchange AUD for the stable coin xAUD

The Coinstash platform also provides the ability to exchange the Australian dollar for the stablecoin version known as xAUD. The xAUD can be redeemed for AUD at any time and can also be sued to earn an interest of 6.03% through the earn account. 

The platform allows users to gift cryptocurrencies through gift cards. The feature is available on the site and users can purchase cryptocurrency gift cards in various denominations and send them to a user’s email address. 

9. Coinstash live chat

The customer service team can be approached instantly in 2022 through the live chat feature in case a user gets stuck while navigating the platform. The site has been built keeping in mind the needs of both new and experienced users.

10. Coinstash education

The site also runs a popular blog for educating users about the world of cryptocurrencies and blockchain technology in general. Updates related to the site are also frequently shared by the team on the blog and social media channels. 

11. Constash contests

Coinstash hosts regular contests and promotional activities in 2022 for both new and existing users on its platform. It is a great way to earn free coins and merchandise offered through the site.

How long has Coinstash been operational?

The site was founded in 2017 by Mena Theodorou and Ting Wang. It is primarily aimed at Australian users and has come up with many additional features since its launch.  

Over the years, it has attracted many Australian users because of its low trading fees and the ability to earn a passive income on both AUD as well as cryptocurrency assets. 

Coinstash fees 2022

There are no deposit or withdrawal fees on Coinstash. There are no hidden charges and the fee structure is well explained on the site. However, cryptocurrency withdrawals attract a fee. 

The platform charges a flat 0.85% as trading fees and it is comparatively lower than other similar sites. 

Users can deposit funds through PayID, BPay, or Osko. Third party payment processing services such as Flexepin are also supported by Coinstash. Coinstash also provides support for cash deposits. The exchange is planning to add support for more payment methods in the future.  

Is Coinstash a legitimate crypto exchange?

Coinstash is a fully regulated exchange and is registered with the Australian Financial Services Licence (AFSL). The exchange complies with the norms of Know Your Customer (KYC) regulations to ensure the exchange is kept safe for all users. 

All new users are required to submit identity documents to ensure the platform is not used by malicious actors. Two-factor authentication facility is also available to add a security layer to users’ accounts. 

Can I swap coins on Coinstash?

No. Currently, the site does not offer the ability to swap coins directly. You will need to purchase or sell cryptocurrencies paired with AUD. 

Coinstash app

The site is accessible via an app for both android and iOS users. All features are available on the app and it can prove to be very helpful for clients who wish to monitor their cryptocurrency assets while traveling. 

The app can be downloaded on mobile phones or tablets and the user can trade cryptocurrencies at the click of a button. The design interface is very clean and will appeal to even amateur users. 

Coinstash wallet

The platform offers cryptocurrency wallets where users can deposit and withdraw currencies.

The platform uses a mix of hot and cold wallets to ensure customers’ assets are kept safe at all times.

However, if you wish to hold onto your cryptocurrency assets for the long term, it is always a good idea to invest in a secure hardware wallet for personal use. 

Software wallets can also be used as they are freely available and can be downloaded as an app.

However, Coinstash monitors assets and transaction activity regularly to ensure that its customers are protected against phishing and fraud. 

Coinstash verdict

The Coinstash platform is a native Australian exchange that offers the ability to stake cryptocurrencies and also provides useful features such as the SMSF fund and recurring deposits. The cryptocurrency exchange provides support for the AUD currency and deposits and withdrawals are completely free. 

With low trading fees and an attractive sign up bonus, Coinstash will appeal to both amateurs and established cryptocurrency investors. 

www.coinstash.com.au

best crypto exchanges australia
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