CoinSpot vs eToro Fees

Deposit Fees

CoinSpot charges zero fees on AUD deposits using POLi, PayID, or Direct Deposit (via OSKO). If you want to deposit using BPAY the fee is 0.9%, and for cash deposits it is a 2.5% fee.

eToro charges zero fees for depositing, but as an Australian resident, you will have to pay a currency conversion fee. The fee to convert AUD to USD is 50 pips for bank transfer (~0.7%) and 100 pips for Credit/Debit cards, PayPal and POLi (~1.38%).

Trading Fees

eToro charges 1% trading fee for all crypto transactions.

On CoinSpot, if you trade on the market, you only pay a low fee of 0.1% per trade, whether buying or selling. However, there are only around 15 different cryptocurrencies available here. To access the entire range of over 460+ coins, you need to buy/sell instantly from the exchange.

CoinSpot charges 1.0% fees when buying or selling cryptocurrency instantly.

Withdrawal Fees

CoinSpot charges ZERO fees for AUD withdrawals to Australian bank accounts.

eToro charges a flat fee of $5 for each withdrawal (minimum $30 withdrawal). On top of that, users are charged a currency conversion fee of 50 pips (~0.7% fee).

Cryptocurrency Transfer Fees

On CoinSpot, when you send your crypto to an external wallet you will be charged a standard transaction (mining) fee. The fee varies depending on the coin and how busy the network is. 

eToro charges a fee of 0.5% to transfer the crypto from the eToro trading platform to the eToro wallet, with a minimum fee of $1 and maximum fee of $50.

CoinSpot vs eToro Deposit Methods

CoinSpot offers a variety of deposit methods including direct deposit, PayID, POLi, BPAY, cash deposit and cryptocurrency. 

eToro offers bank transfer, debit cards, credit cards, POLi and PayPal for Australian users. 

CoinSpot vs eToro Features 

CoinSpot is a dedicated crypto exchange while eToro is a trading platform with cryptocurrency as one of the trading instruments. I will discuss some of the features that set them apart from the other, but if you wanted to learn the full range of services offered, have a read of my CoinSpot review and eToro Australia review.

CoinSpot is popular for its extensive range of over 460+ cryptocurrencies, which is continuously growing. If you want to diversify your digital assets beyond the usual Bitcoin and Ethereum, CoinSpot is the perfect crypto exchange to find the altcoin you're after.

CoinSpot has industry-leading customer service, with Live Chat support open 9am - 8pm AEDT on weekdays and 9am - 5pm AEDT on weekends. When you use Live Chat, you won't have to deal with any bots, instead you will be chatting to a live agent straight away. If you need assistance from CoinSpot outside of the Live Chat business hours, you can contact their Help Desk 24/7 who will usually respond within 24 hours. CoinSpot also offers a comprehensive information centre providing tutorials for newcomers, and has a FAQ section to assist new investors to buy their first crypto.

CoinSpot has a great feature called CoinSpot Bundles, where you can invest in a range of coins in a single transaction. Not only does it help you to diversify your portfolio and minimise risk, you also save time, fees, and average out the cost over a split of coins. 

'Top Ten Market Cap' is a popular bundle which is the top ten largest cryptocurrencies based on market capitalisation. Here are all the Bundles you can purchase on CoinSpot.

eToro has a Demo account available to all users with the click of a button. This mode enables users to practise trading with the virtual $100,000 provided, completely risk-free. It is an excellent way for newbies to learn the ropes without having to worry about making a mistake.

eToro is unique because of its focus on social trading. They have included a News Feed within the platform, where users can connect and interact with other traders in the eToro community, seeking advice and learning from others. This is a great feature that makes eToro different from other cryptocurrency exchanges.

eToro has crypto staking, which you may have heard of. Staking is where you earn rewards on your crypto holdings, like how you would earn interest on money left in a bank account. On eToro, Cardano (ADA), Tron (TRX) and Ethereum (ETH) staking is supported, with plans to support more coins in the future. Staking rewards are automatically paid every month to eligible investors (anyone whose coins are held on eToro's trading platform).

CoinSpot vs eToro Security

CoinSpot's early establishment in the Australian crypto market has helped it become the most secure and trusted of all Aussie exchanges. CoinSpot uses multilayered security to ensure their users' assets are safe, including storage of the majority of digital assets offline in cold storage, to protect from cybersecurity attacks. It is registered with AUSTRAC, and fulfils all the strict AML/KYC verification obligations to fight money laundering and financing of terrorism. CoinSpot is the most audited Australian crypto exchange and the only one to be awarded the ISO 27001 certification. 

eToro is also a safe broker, securing their customers’ funds in tier 1 banks, and all personal information protected with SSL encryption. Most of eToro's crypto assets are stored offline in cold storage to prevent loss in case of a cybersecurity breach.

Verdict - CoinSpot

CoinSpot is the better choice when compared with eToro, which is no surprise, since CoinSpot is a long-established cryptocurrency-exclusive platform. CoinSpot has an easy-to-use interface, over 460+ coins, staking on 21 coins, lower fees, and Live Chat support.

eToro is an excellent trading platform for other assets such as stocks, but when we are comparing cryptocurrency trading, it is hard to compete with exchanges that are built specifically for crypto. The currency conversion fee on deposits and withdrawals, and the limited range of coins make it hard to beat the best Aussie crypto exchanges.

Still Researching?

To learn more about CoinSpot and eToro, read my full breakdowns of CoinSpot (here) and eToro (here). For more crypto exchange options, take a look at my article on the top exchanges in Australia here and compare them easily using the table below.