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Coinstash Review: Is It The Best Crypto Exchange to Use in Australia?

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Are you considering using Coinstash for your crypto investment? Here’s our review for everything you need to know.

 

Coinstash is a simple, fast and secure way to buy bitcoin and other cryptocurrency.

 

Unlike most crypto exchanges focus on global market, Coinstash is specially designed for Australian traders and investors.

 

Coinstash is one of the more user-friendly choices for you if you’re new to cryptocurrency…

 

In this article, I’ll answer your most pressing question and everything there is to know about Coinstash.

 

Now let’s get to it:

 

 

What is Coinstash?

Headquartered in Brisbane, Coinstash is an Australian-based crypto exchange that allows you to easily buy/sell more than 340+ cryptocurrencies, directly with AUD.

 

Coinstash was founded in 2017 by Ting Wang and Mena Theodorou. They aim to provide a one-stop solution that allows all Australians to buy, sell, earn, borrow and spend cryptocurrency on a safe and regulated platform.

 

With that said, they do have plans to bring the crypto platform to countries outside of Australia. For those who are not residing in Australia, stay tuned!

 

With Coinstash, you can

 

Key Facts

 

Coinstash Main Features 

Buying is easy

Coinstash makes investing in crypto easy and reliable, that’s why the platform is popular.

 

Select your favorite cryptocurrency, enter the amount you wish to buy and you will receive the crypto instantly on your account.

 

There are two trading charts to choose from: Basic mode (for beginners) and Advanced mode.

 

Coinstash Giftcards

Looking for the perfect gift? Or you feel like you’re all out of gift ideas? Why not send a cryptocurrency giftcard to your friends and family. It’s a fun way to help them learn more about crypto.

 

With a limited supply of 21 million, a gift of Bitcoin has the potential to increase significantly in value over time.

 

Here’s how it works:

  1. You select and buy a gift card on Coinstash.
  2. You enter their email address.
  3. Coinstash will send the gift for you.
  4. Your friend can then redeem the gift card on Coinstash. It’s the best way to intro someone into crypto!

 

 

Wide selection of supported assets

Coinstash has one of the largest selection of cryptocurrencies to buy and sell. You can find over 340+ supported cryptocurrencies including Bitcoin, Ethereum, Litecoin Solana, Cardano, Ripple, Polkadot, Dogecoin, Shiba Inu, Chainlink, Binance Token and others.

 

Recurring Buys

Set it and forget it! Recurring buys help you to automatically purchase crypto on a regular basis.

Simply set up recurring transfers to your Coinstash from your bank account, and the AUD will be used to invest in your favorite coins.

You can automate your crypto investment at the amount and frequency of your choosing. This saves you the hassle of tracking tumultuous market fluctuations.

 

Bundles

Coinstash Bundles is a great way to diversify your portfolio if you’re not sure what to invest in.

 

They have created a few easy bundles that you can buy instantly, such as Big Two, DeFi and Exchange Token. Each bundle together popular cryptocurrencies, altcoins and tokens. This way, you can get exposure to different types of crypto assets without having to do much research or analyze trends all by yourself.

 

Coinstash Earn

One great feature of Coinstash is the ability to earn passive income on your cryptocurrency.

With Coinstash Earn, you can receive up to 8% interest on your crypto assets.

 

CoinStash Affiliate Program

Get rewarded for inviting your friends to Coinstash. Every time they trade, you’ll automatically earn a small commission. With Coinstash generous affiliate program, you can earn up to 55% of referrals’ trade fees, for life!

 

Coinstash Mobile App

Coinstash mobile app is available on Android and iOS, allowing you manage, invest and track your crypto on the go.

 

Coinstash Support

Coinstash takes their support seriously.

The amazingly fast support is available from 9 am to 11 pm, every day. Instead of speaking to a bot, you can talk to a real person with just a single tap to open a live online chat support ticket.

 

How to Buy Bitcoin with Coinstash

Buying and selling crypto with Coinstash is super easy.

 

If you’ve never dabbled with cryptocurrency exchanges before, you can do so within minutes on Coinstash.

 

Step 1: Sign up for Coinstash 

Go to Sign up for Coinstash. Click “Sign Up” to create your free account with your email ID. Enter a strong password and click next.

 

As of writing, Coinstash is only open to customers currently residing in Australia.

 

For International customer, you can sign up for a free Coinstash account to be added to a waitlist as they plan to bring their platform to countries outside of Australia.

 

Step 2: Verify your email address

Next, Coinstash will send a confirmation email to the email address you used when creating your account.

 

All you need to do is open the email, copy the confirmation code, enter the code on Coinstash page and click “Check Verification Code”.

 

Step 3: Verify your identity

Before you can start trading on Coinstash, you need to verify your identity by submitting a valid government-issued ID.

 

Follow the instructions, select the verification method, take a selfie of you holding the document to complete the verification process.

 

In general, you’ll get your account approved within 1 day.

Step 4: Purchase cryptocurrencies

After your account is approved, you’re ready to go. You can start buying Bitcoin, Ethereum and other top cryptocurrencies with AUD.

 

Send fund from your bank account to your Coinstash account and start buying your first (tiny fractions of) bitcoin!

 

Coinstash Payment Methods

Coinstash currently supports Osko, PayID, Bpay, bank transfers and cryptocurrency. Credit card/debit card are not supported, though they plan to include more payment methods in the near future.

 

Coinstash Fees

Enjoy zero deposit fee when you transfer money to your Coinstash account. There’s also zero fee for withdrawing fiat money into your bank account.

 

If you’d like to withdraw crypto to your own wallet, you just need to pay for a network fee.

 

Other than that, the only fee you need to pay is a 0.85% transaction fee.

 

Is Coinstash Safe?

Choosing a reliable exchange is an important decision to make, as you need to trust the company to keep your personal information and money safe at all times.

 

Coinstash is considered one of the safest places to buy and sell cryptocurrencies in Australia. It’s a registered digital currency exchange.

 

Remember to secure your account with two factor authentication (2FA). Moreover, Coinstash has implemented transaction monitoring systems for breaches and transfers to known compromised addresses. This is to make sure your funds are as safe as they can be.

 

While Coinstash is safe to use, it’s your responsibility to practice basic crypto security to protect yourself against human errors and potential attacks.

 

Is Coinstash regulated?

Yes. Coinstash is fully regulated and licensed.

 

This platform is wholly owned by TWMT Pty Ltd (ABN 76 621 581 584), a fully registered digital currency exchange provider in Australia.

 

It is registered with AUSTRAC and is regulated by all Australian financial laws and anti-money laundering policies.

 

Coinstash is also one of the few exchanges in Australia that has successfully acquired an Australian Financial Services Licence (AFSL).

 

That explains why all new users are required to complete the Know-Your-Customer (KYC) procedure to start buying/selling crypto.

 

Coinstash Pros

 

Coinstash Cons

 

 

Conclusion: Coinstash Review

Coinstash is a great crypto exchange to buy Bitcoin and top cryptocurrencies, especially for a newbie in the crypto market.

 

Although you can use Coinstash to store your cryptocurrency, you don’t control the private key. For this reason, if you’re owning a significant amount of crypto, it’s best to use a hardware wallet which you have complete control of your funds.

 

Are you ready for crypto investing?

 

 

What do you think?

Would you use Coinstash to buy, sell or trade cryptocurrency? Why or why not?

 

Last but not least, if this post was of any help to you, please share it on Facebook, Twitter and Pinterest!

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P.S: This Bitcoin resource is One of – if not the most – comprehensive resources for learning about Bitcoin with over 20 categories ranging from history to buying BTC, setting up a wallet, technical information, mining, security, and trading. Enjoy!

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