CoinSpot was founded by Russel Wilson in 2013, so it is not a new exchange.If one is looking for a CoinSpot referral code, they can register today on CoinSpot.com with the referral code REFG3PUNE and get a $10 AUD free Bitcoin sign up referral bonus.
Users can click here to claim the CoinSpot $10 Bitcoin promotion!
About CoinSpot
With new crypto exchanges spurring up on the daily, the developers behind the platforms are doing everything in their power to stand out. Targeting clients based on geography seems to be a strategy that works, and that is what CoinSpot does for Australians.
CoinSpot was founded by Russel Wilson in 2013, so it is not a new exchange. However, it is tailored specifically to the needs of people living in Australia and is regulated by the Australian government.
It offers a wealth of benefits that might make it one of the best crypto platforms for people living down under.
For one, the company has 24/7 support that can be reached through the platform or the app. The platform offers a wallet for storage and the ability to trade with other CoinSpot users for extremely minimal fees.
The platform prides itself on simplicity, and it does not take long to learn how to use the exchange.
One of the biggest advantages of CoinSpot are its extensive referral and affiliate programs that allow one to earn a significant amount of Bitcoin after registering. Let’s take a look at how those interested can take advantage of the programs.
How To Register On CoinSpot & Claim Bonus
Remember that CoinSpot is for Australian users. Although the platform accepts over 300 cryptocurrencies at the time of writing, the only fiat currency accepted is AUD.
While there are reports of people from other countries using the platform, we would not recommend it.
Here is how one can register on CoinSpot and claim their bonus.
1. Users can go to the CoinSpot website and begin the registration process.
2. Input all the credentials. When asked for a referral code, they can enter: REFG3PUNE.
3. For simplicity, one can also click on the registration link to sign up with the code.
4. Once the process is done, users can begin to use the platform after the verifications are complete.
5. One needs to deposit the minimum amount required to receive their bonus.
6. One can join the CoinSpot affiliate and referral programs to receive further rewards.
CoinSpot Affiliate & Referral Programs
CoinSpot has two separate programs that allow users to earn rewards. As long as one can get their friends and family to register on the platform using one’s code, a user will be able to make a hefty amount of money for basically doing nothing.
Remember that while one can take part in both of the programs simultaneously, any new
user can only use a single code to register. As such, each person one invites to the platform will only be able to contribute to one of the programs.
Let’s take a look at each program individually.
CoinSpot Referral Program
The CoinSpot referral program allows both the referrer and the user registering on the platform to receive $10 AUD after the minimum deposit has been made.
The deposit is made in Bitcoin, and it is equivalent to $10 AUD at the time of the deposit. Remember that the deposit must be made within 90 days of opening the account.
CoinSpot Affiliate Program
The CoinSpot affiliate program works in a slightly different manner to the referral program. Here, you receive commissions based on the amount of trading done by the person that signed up using your code.
The commissions are usually 30% of the net fees collected by the company for the first year. This rate then decreases to 15% for the second year, 5% for the third year, and 0% thereafter.
The affiliate program can be a much more lucrative scheme in the long run if the person the user referred to the platform is a regular trader. If they are a hodler instead, it might be better to apply the user’s referral link. More information about the affiliate can be found at the link here.
CoinSpot Fees
One of the biggest advantages of using CoinSpot is the fact that they have one of the simplest fee structures out there. Larger platforms such as Coinbase may offer better benefits, but figuring out the fee structure can be a headache.
There are no hidden costs when it comes to fees, and the starting rate is 0.1% of the total trade (if it is between two CoinSpot users).
The fee then increases to 1% if one uses the instant buy and sell, or if one uses an advanced order like a stop loss or take profit.
Lastly, standard bank transfer rates apply if one transfers the coins from their CoinSpot wallet to an external wallet. More information about the platform’s fees can be found on the website.
CoinSpot App
The CoinSpot app may be the only weak link in an otherwise strong platform. While the app offers you enough functionality to trade on the go, it is riddled with bugs.
Numerous users have reported login issues, and many have been unable to use the app due to out of date data.
However, it is important to remember that most of these issues have come about after a recent update. The app, in general, is more than usable and these issues should be solved in due time.
Currently, both the iOS and the Android app have a rating below 3-stars.
Remember that the app is serviceable enough to track one’s holdings on the go. It isn’t recommended that one trade with it, but one shouldn’t trade on a small screen anyways.
Enjoy A Free Bitcoin
For someone that primarily lives in Australia, they should seriously consider using CoinSpot. While the larger exchanges may offer additional features and a host of other benefits, CoinSpot keeps things simple.
Unless one has a need for a specific feature not offered by the platform, sticking to CoinSpot is a good idea.
Remember to use the referral code REFG3PUNE when signing up to receive a free Bitcoin. After that, the rewards only get better and better as one uses the affiliate and referral programs.
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