As cryptocurrency awareness grows across Australia and more people recognise its compelling advantages, the proportion of people that use crypto has soared. Dozens of crypto exchanges have emerged to tap into the ballooning market. Unsurprisingly, each one claims to be the best.
There are multiple factors you should pay attention to when choosing an exchange but one of the most important is the quality of customer service. Woeful customer service effectively erodes any other strength the exchange may have.
But how can you gauge service quality beforehand? Fortunately, there are pointers. I’ll take you through the customer service attributes that define the best crypto platforms in Australia and highlight why CoinSpot is a cut above the rest.
Criteria for Evaluating Customer Service
Good quality service may seem obviously observable. But to really compare the quality of service between crypto exchanges, you need a more systematic approach. The following are the most important indicators of customer service quality.
Overview of CoinSpot
CoinSpot is one of Australia’s most established cryptocurrency exchanges. Founded in 2013, it has over 2.5 million customers and is adding more each year. Such broad-based appeal that draws both newbies and seasoned crypto investors is driven by a number of factors.
But while these features and technical capabilities are vital to crypto exchange success, they wouldn’t matter much if they were not backed by robust customer service.
Detailed Review of CoinSpot’s Customer Service
CoinSpot seems to recognise the central role of excellent customer service and has gone to significant lengths to develop a customer service experience that other exchanges in Australia cannot match.
Responsiveness
Perhaps the best place to see CoinSpot support representatives in their element, is on enquiries and complaints made on community forums like the company’s Reddit subreddit or review platforms such as Google Play Store. Customers are responded to promptly and in no more than 24 hours.
Availability and Effectiveness
Customer support is available via the following channels:
Team Expertise
CoinSpot’s founder, Russell Ty Wilson, is famously reclusive. So it's perhaps in character that the exchange does not publish the names and credentials of its locally based and knowledgeable customer support team members. However, you can deduce the depth of team expertise in other ways.
User Feedback
CoinSpot has largely positive reviews on key review sites:
Customers cite diverse factors for giving CoinSpot a high rating. However, exceptional customer support is mentioned with substantial regularity.
Additional Resources
Comparative Analysis with Other Exchanges
The largest review platforms would be a great place to run a comparative analysis. Problem is they usually aggregate ratings from users around the world and not just those from Australia. So the best way to gauge CoinSpot’s customer service performance against its rivals is an Australia-specific platform. In this case, ProductReview.com.au.
Exchange | Rating on ProductReview.com.au |
|---|---|
CoinSpot | 4.2 out of 5 stars from 2,120 reviews |
CoinJar | 1.8 out of 5 stars from 5 reviews |
Independent Reserve | 3.4 out of 5 stars from 17 reviews |
Digital Surge | 4.1 out of 5 stars from 70 reviews |
Binance Australia | 3.9 out of 5 stars from 327 reviews |
Cointree | 1.6 out of 5 stars from 23 reviews |
Coinbase Australia | 2.1 out of 5 stars from 19 reviews |
eToro Australia | 1.7 out of 5 stars from 139 reviews |
CoinSpot has a better rating than nearly every other major crypto platform operating in Australia. That includes global leaders Binance and Coinbase. Overall, only a fraction of leading crypto exchanges have consumer ratings of 4 or more, something that makes CoinSpot’s performance even more exceptional.
Importance of Quality Customer Service in Crypto Trading
For many people including first time cryptocurrency investors, the crypto industry remains complex and far removed from the familiarity of fiat currency. Quality customer service helps demystify cryptocurrency by streamlining trading experiences and enhancing risk management.
The average person is more likely to trust and transact with a crypto platform that is responsive, accessible and simplifies the process. Quality customer support improves customer retention, encourages loyalty, generates organic referrals and grows both up-selling and cross-selling.
CoinSpot’s continuous growth is a practical example with thousands of new customers signing up each year.
Conclusion
There are dozens of reasons you could choose a crypto platform over the rest. Few factors will however be more important than the quality of customer service. Bad customer support not only leaves a sour taste in the mouth but jeopardises the very safety of your crypto holdings. CoinSpot’s customer service stands out for its responsiveness, availability, high review ratings, team expertise and expansive knowledge base.
