CoinSpot has continually been at the forefront of Australian cryptocurrency adoption since the exchange’s inception in 2013.
Australia’s most popular cryptocurrency exchange has again been improved by adding increased simplicity for coin-to-coin trading. With an improved new interface, users can easily trade directly from one cryptocurrency to another using CoinSwap.
How does CoinSwap work?
If you have traded cryptocurrency before you would know that almost all cryptocurrencies are bought or sold against (paired with) Bitcoin or a fiat currency like AUD or USD.
This means that if you are holding one currency (for example Ethereum) and you wish to trade your Ether for Stellar you would need to trade back into BTC or AUD before you can reach your desired currency.
This is where CoinSpot removes the hassle and saves you time by allowing you to trade directly from any of the 136 different currencies listed on the platform into any coin that you choose. This creates effectively over 9000 trading pairs available on CoinSpot compared to other international exchanges which only offer around 500 trading pairs.
As well as allowing access to an extremely high amount of trading pairs, this feature also completes the trade instantly. By executing instantly users can be confident with lock-in pricing and trade directly into any of the available cryptocurrencies within seconds.
This eliminates the risks of creating orders, waiting for orders to execute, or receiving only partially filled orders and potentially missing market opportunities.
By simplifying this process for users, CoinSpot has removed the need to complete multiple transactions to obtain another particular asset. With the largest variety of cryptocurrencies in Australia, you can trade into what you want without unnecessary difficulties.
What’s next for CoinSpot?
CoinSpot is continuing to lead the way for Australian exchanges. With a clear focus on usability and simplicity, CoinSpot is continuing to make cryptocurrency accessible to everyone.
With a ton of new features arriving in 2020, there will be more reasons than ever to trade with Australia’s most popular cryptocurrency exchange.