Coinstash Investment: Is It A Smart Move?

Coinstash is a cryptocurrency exchange founded in 2017 in Brisbane, Australia. It offers a simple and user-friendly platform for users to buy, sell, and trade cryptocurrencies. With over 35,000 clients, it is one of the most well-established and trusted crypto exchanges in the country. The platform offers a wide range of features, including an educational portal for beginners and an easy verification process. It also boasts industry-leading security practices and competitive trading fees. However, it has faced some criticism for its limited payment methods and slow transaction speeds. Overall, Coinstash is a good option for individuals based in Australia who are new to the world of cryptocurrency and want a secure and user-friendly platform to start their investment journey.

Coinstash's user-friendliness for beginners

Coinstash is a user-friendly platform for beginners to start their cryptocurrency journey. The platform offers an educational portal that helps beginners learn how to gather and manage their crypto holdings. It is regarded as one of the simpler platforms globally. The interface is clean, easy to use, and navigate for both new and experienced investors. The simple layout makes it easy to store, buy/sell, and manage crypto holdings. The platform also offers a crypto wallet to store digital savings.

The registration and verification processes are straightforward and quick. Users need a valid ID and government-authorised document to start using the platform. The verification process is completed in less than a minute, and the platform offers multiple options for verification, including birth certificates, foreign passports, and medical cards. The platform also provides a dedicated support team to guide users through the verification process.

Coinstash offers a smooth gateway for buying and selling crypto. It lets users purchase different crypto assets, including BTC, ETH, and XRP, using fiat currency (Australian Dollars). The platform supports multiple payment methods, including PayID, Osko, Bpay, and cash deposits, with more options expected in the future. The trading fees are competitive, with a flat fee of 0.85% for all trades and no charges for depositing or withdrawing AUD.

The platform provides 24/7 customer support through live web chat, email, and phone. The support team is highly responsive, prompt, and supportive, with positive reviews for their helpfulness and friendliness. The team also provides guidance beyond the verification process, ensuring a positive user experience.

Overall, Coinstash is a user-friendly platform for beginners, offering an intuitive interface, a simple registration process, multiple payment options, competitive fees, and reliable customer support. It is a good choice for those new to the cryptocurrency space, providing an accessible and secure entry point into the market.

Coinstash's security measures

Coinstash implements several security measures to ensure the safety of its users' data and assets. Here are some of the key security features offered by the platform:

• Multi-Layered Security: Coinstash employs a multi-layered security protocol that utilises the latest safety measures to safeguard against cyber attacks and vulnerabilities. This includes the use of Single Sign-On (SSO) encryption, which serves as a strong base layer of security for protecting user data.
• Two-Factor Authentication (2FA): Coinstash offers 2FA as an additional layer of security for user accounts. This requires users to enter a time-sensitive 6-digit code in addition to their regular login credentials, providing robust protection for transactions.
• Biometric Login: Coinstash provides users with the option to enable biometric login for personalised security, allowing them to securely access their accounts using their unique biometric identifiers.
• Advanced Access Control: The platform offers advanced access control features, such as linked accounts, to ensure that only authorised users can access sensitive information.
• Fireblocks Integration: Coinstash has partnered with Fireblocks, an industry-leading security provider for cryptocurrency exchanges, to ensure the highest level of custody and protection for user assets. Fireblocks helps Coinstash maintain full currency reserves, guaranteeing that 100% of user assets are safely stored and fully backed on a 1:1 basis.
• Compliance with AUSTRAC Regulations: Coinstash is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) and complies with all relevant Australian financial laws and anti-money laundering policies. This means that the platform is subject to strict regulatory oversight, providing an extra layer of security for its users.
• Secure Payment Methods: Coinstash supports secure payment methods such as Osko and PayID, which offer fast and fee-free transfers from Australian bank accounts.
• KYC Verification: Coinstash requires users to go through a Know Your Customer (KYC) verification process, which includes providing proof of identification, to ensure that only authorised individuals can access the platform and perform transactions.

Coinstash's customer support

The team is highly trained and knowledgeable, offering guidance and solutions to customers' queries and issues. They also assist users with the verification process, ensuring a smooth onboarding experience.

Coinstash's commitment to customer support extends beyond traditional channels, with the platform also offering an educational portal for beginners to learn about crypto holdings and an extensive blog section covering the latest news and insights.

The company's quick response times and friendly approach have been highlighted in user reviews, reflecting Coinstash's dedication to providing a positive and supportive experience for its customers.

Coinstash's payment methods

Coinstash supports several payment methods, including PayID, Osko, Bpay, and cash deposits. The platform also accepts AUD as the only fiat currency. Coinstash is working on introducing more payment methods, such as credit and debit cards, to provide more convenience for its users.

The payment methods currently available on the platform are primarily operated in Australia. This may be a limiting factor for Australians travelling abroad, as these methods may not work outside the country. If users outside Australia wish to use the platform, they will have to go through additional steps, even if they are paying in AUD.

Coinstash also offers a wallet feature that allows users to deposit and withdraw their assets through a simple method. However, to withdraw funds, users must complete the verification process in advance. Withdrawals and deposits are free of charge if done through AUD, but withdrawing through cryptocurrency incurs a small fee depending on the specific currency.

Coinstash's trading fees

Coinstash is a cryptocurrency exchange founded in Australia in 2017. It offers a simple and user-friendly platform for users to buy, sell, and trade cryptocurrencies. With over 35,000 clients, it is one of the most well-established and trusted cryptocurrency exchange platforms in Australia.

Coinstash charges a flat 0.85% trade fee (including GST) on all trades. This fee is highly competitive in the market and is calculated before placing an order, ensuring transparent pricing. There are no fees for withdrawing AUD, but there is a network fee for sending coins to an external address, which varies depending on the cryptocurrency.

Coinstash also offers reduced trading fees as an exclusive benefit for users. The platform provides a secure and easy-to-use platform for investors to buy, sell and trade over 1,000 cryptocurrencies. With seamless DeFi integration, powerful trading tools, and industry-leading security, Coinstash is designed for users to invest in crypto with confidence.

Frequently asked questions