Coinspot reaches 2.5 Million Accounts as regulations roll out
Coinspot an Australian owned and operated exchange has continued to grow throughout the years and as a relatively small exchange dealing in Australia little is known or communicated about this innovative and now well established exchange.
While many exchanges dominate headlines with ongoing hacks, failures and liquidations Coinspot remains one of the few to not be dragged into the debacles of the many failed exchanges out there. Coinspot is fast becoming one of the most secure and trusted exchanges in Australia with a number of options available to investors.
The one stop Crypto Shop
Coinspot has come a long way since it first launched in 2013 providing Aussies the ability to invest on a regular basis through recurring buys and direct debit making buying your favorite digital asset easy. Depositing and withdrawing money is an ease with funds typically in your online account within 20 minutes and after your first withdraw which might take a little longer the next withdrawals are available in your account within the same time frames.
NFT Storage
Coinspot has further grown to enable storage of Ethereum NFTs providing a safe space to ensure your NFTs are secure and out of harms way for those who don't want to utilise other storage options. Coinspot has further lifted it's security to 2FA and is also growing amongst digital asset communities becoming a Blockchain Australia member and a regularly promoted exchange amongst crypto enthusiasts and growing it's market dominance now listing over 370 different Crypto currencies including Hive!
In 2022 the platform further refined its services to enable staking for people who don't want to move their tokens around due to the sometimes over complicated nature of wallet transfers and engaging with Decentralised Finance (De-Fi) protocols.
Under the watchful eye of regulators
Aussie's are a hard and different kind of people and while we don't currently have specific regulations for Crypto our agencies will find something to throw at you. Given some of the largest movement in current mainstream media surrounding exchange collapses Aussie platforms were advised to clean up their acts.
coinspot continues to deliver with certification and external audits of their operations as well as building an offline reserve of their assets. Recently parliament announced they wanted all Aussie exchanges to hold 1:1 assets for people who were trading and according to Coinspot they have met their obligation and assets are now 1:1 and regularly audited by an external company.
Image source
Given the financial collapse of many exchanges that over collateralized their assets or more so, over sold them causing a chain reaction of collapse and financial ruin for all, Coinspot appears to not have been impacted with price volatility nor did it freeze it's customer accounts.
If you're interested in joining the other 2.5 Million Aussies with a Coinspot account you can do so by clicking Here
Image sources provided. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.